Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-03-09
The Senate.

WASHINGTON, March S.-The Senate CON-
menced at noon. The galleries were well
filed with spectators, and large number of
the members of the House occupied seats on
the floor of the Senate, an impression prevail
ing that the Democrats would move to organ
iZe the committees. Communications were
laid before the Senate from ex-Senators Kirk
wood and Blaine, announcing that they had
forwarded to the governors of their respective
States their designations as members of the
Senate. The communications were ordered
placed on file of the Senate.
AT 1920 message from the President was
announced, and upon motion of Mr.. Bayard
the Senate went into executive session.
The president nominated Nathan Goff, Jr.,
L. S. attorney for West Virginia; Lewis Rich
mond, of Rhode Island, consul general at
Rome; I. s. consnls, John L. Frisbie, OF
Mich, at Rhiems; P. NJ. Teder, of Nevada, at
Guayaquil; Albert Rhodes, of the District of
Columbia, at Rouen; Edward Backin, of Hi
nois, at Para Emil Courtalo, at Lounian
John A. Holderman, of Kansas, at Bangkok
Abbot i. Doer, at Althphy, India John F.
June, of n. j., at Nubia. The Senate con-
firmed the nominations of Goff, Richmond and
Frisbie, and left the others on the table for
further action. When the doors were reopened
the Senate adjourned until tomorrow. Fris-
bic and Richmond were nominations of Presi-
dent Hayes that were favorably reported but
not acted upon.
The Question Of Wtthdracing Surrender-
ed Bonds.
WASHINGTON, March S.---Attorney General
MaoVeagh is iniPhladelphia arranging his
business affairs. With these exceptions the
new cabinet attended the meeting of the cabi-
net In the absence of Lincoln Secretary
Ramsey represented the war department. The
,Off1 o1,,
voted to discussion of the question whether
or not national banks shall be permitted to
substitute bonds for legal tenders
deposited by them with the treasury
for the purpose of Withdrawing their
circulation. The importance of a correct
decision in the matter was recognized, and
with view of securing the fulling informa-
ton, further consideration was postponed
until the next meeting of the cabinet. Mr..
New, meanwhile comptroller of the currency,
and the treasurer of the United States; will be
called upon to present their respective views
and all facts bearing on the case. The weight
of opinion at the meeting to-day inclined to
vote the whole matter hinged on the question
OF ruling or departmental regulation,
the decision should be such as would least
injuriously affect the financial and business
interests of the country. It was suggested
decision against Immediately restoring to cir
culatlon the legal tenders which had been
deposited would operate as serious contrac-
tion of the currency for some time to come,
and cause renewal of the stringency and un-
certainty experienced few days since, while
to allow the banks to substitute bonds and
withdraw their legal tender would
at once restore confidence and relieve the un-
certainty. On the other hand, it was suggested
such decision would be opposed to former
precedents and rulings, and would afford an
opportunity to the banks to initiate or contract
their circulation at will, or, to suit their
suppressed interests, while to compel
them to resort to ordinary means of restoring
the former volume of their circulation would
involve at most but short delay and couldn't
cause any serious inconvenience or alarm in
business circles in view of the fact that the
treasury department is prepared to begin the
printing and reissue of notes from day to day
Immediately upon receipt of application from
the banks, and that the issue of the entire
amount could probably be completed within
three weeks