The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1881-02-18
Last Nights Dispatches.
xLvI CONGRESS.
SENATE.

SENATE.
WAsHIsGrsS. Feb. IT The debate on
the refunding was Temporarily suspended
and the conference reports on the consular
and diplomatic and naval appropriation
| bills were presented and adopted.
Mr., Wallace, from the conference on
the Indian appropriation bill. reported an
agreement on all items except that relating
to retaining the Indian com mission. and
in reply to Mr. Allison. Explained that
the effect Of the adoption OF the report
| would not be to pass the bill, but to settle
the difference between the houses on all
items except The single one stated, 10
regard to which new conference could
| be ordered.
The funding bill was again taken up.
AT 4:45 vote being called for. Mr..
Ferry moved the amendment OF the COM
mittee, fixing the rate for long bond by
inserting the words. not exceeding
thus applying the sliding scale provided
for Treasury notes to the long loan:
Mr.. Baysrd intimsted his willingness
to accept the amendment on condition
| that it would strengthen the 81 rate.
Az this point Is 800 an ineffsctuai effort
vas made to adjourn,
Mr., Davis. OF Illinois, insisting that it
was duty the Senate owed the country to
pass funding bill of some kind before
adjourning He thought the sunject had
been talked to death and that every mem
Der chad made up his mind on it they
should come to Vo:e,
Dir, Ferry advocated his amendment
and Mr., lAllison opposed it. 1t was re-
ected, ayes II. nays 45.
A vote was then taken on the amend
ment of the COMMITTED fxing tbs interest
rate at 81 instead of per cent. as fixed
by the House. Rejected, yeas %, nays
80.
The next amendment Of the committee,
making the bonds payable semi-annually
| was agreed to without objection.
The next amendment was to create a
| 500 instead of $40 loan.
Mr.. Mcpherson moved to amend so as
to make it $50 loan. Not agreed to,
yeas II, nays 49,
The pending amendment then prevail
eb without objection. The amendment
| substituting the term Treasury notes"
fer certificates" rs applied to the short
loan inserting the words mot exceeding
before the amount of 100000 900 Of
| such notes" and providing for their issue
In denominations of $40 or some multiple
| of that sum not exceeding $1,000 Agreed
| 10 without formal vote,
The next amendment, to>fx the into r
est rate of the 10 loan at not exceeding
81 instead OF the per cent rate, passed
By the house. Lost. yeas 81, nays 81,
The vote was identical with that upon
| the interest rate for the long Loan, except
that Dir. Logan, who then voted in the
| affirmative did not respond, and MIR. Coke,
| in the latter instance. added his vote in
| the negative. Amendments providing
| that Treasury notes shall be payable semi
annually and those of less denominations
than 800 shall be registered, we're agreed
| to without further debate. An amend
| ment increasing the expenses of prepar-
| ing. advertising and dispesing Of loans
from one quarter to of one cent was dis
ccssed. The smepdment of the commit
| tee fixing of one per cent was retained 10
| the bill. ayes 80. nays. 20.
| The next amendment was in the fourth
| section, allowing the secretary from time
| TO time to assist the process OF refuuding
| by purchase or paying of matured bonds
from funds iG the treasury. The amend
ment provides that this shall not be per
manently reduced Adopted; ayes 26;
nays 10.
The river and hsrbor appropriation bill
was received from the House aud read the
| first time.
| Mr, Morrill, objected to its second read
ing, and the bill was temporarily tabled
On motion OF Mr. VOORHEES, the house
joint resolution authorizing the placing of
the books and mementos in the possession
of the government relating to the essassi'
nation of President Lincoln In the Memori
| ali Hall Of the national Lincoln monument
at Springfield, I'll. passed.
The funding debate was then resumed.
/ The next amendment to the bill was
one to strike out the fifth section. which
axes new bonds the only ones rsceiv
able as security for national bank circu-
lation or government del otits, and COM
pcls banks to exchange five and ak per
cents for those now Issued The commit
tees amendment adds as q substitute fol
this two sections-5 and 6, The frs,
relating 10 the payment of new bonds and
that tho interest thereon shall increase a.
the expiration of such notice, while ths
other sectien provides for the deposit OF
none but United States bearing securitie.
as collateral for government deposits.
After discussion the Senate voted t.
disagree IN the amendments of the cou
mittee striking out the FIRST half of th.
fifth stc:ion in the bill as it came from tb,
House, the effect being to retain the sub
stantial features of the House section
. yeas ~, nays Il. L ne remdlDGer OF IN
committee amendment relating to the ht,l
section was then rejected, aud tn,
section restored as agreed to by tn
House
Il The next amendment OF the sommitte
being two new sections relating to th
payment of the loan 10 amounts to b,
! designated by the Secretary of the Treas
ury. etc making the bonds receivable TO
! circulation. and providing that only inter
est bearing securities of the United State
shall be received as collateral fer g0verr
meut deposits, were agreed to without be
bate This disposed of the committe
amendments, gS
} MIR. Kirkwood offered the followiu
amendment: Ii shall be the duty of III
] secretary of the treasury. under such rule
and regulations as Le may prescribe t
au,horize public pbsciip,ions at not les
than par. to be received at all depositorie
CT the United States and at all nations
banks for the treasury notes herein pre-
vlded fer thirty days before he shall cor
tract for or award any portion of said bon
! or trsssury notes TO any syndicate [
Individuals or bankers, or otherwise ths
under such public subscription, and if
shall happen that more than the entir
amount of said bends and treasury netel