The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1882-01-31
CONGREan.
The Funding RiII In the senate -RiII Day
In the House.

WARRINGTON, January SO.-In the senat,
to-day, after an extension Of the morning
hour to dispose Of routine business OF NJ
special Importance, the Senate resumed
the consideration Of the funding bill.
Mr. Pugh proposed amendments, which
were accepted by Mr.. Vest, as modiGca.
tons Of his proposition.
The question was upon the amendment
offered by Mr.. Hawley, allowing the banks
to retire their bonds deposited for Circula.
ton in amounts not exceeding 5000 00O
per, month and only upon thirty days
notice. The discussion was confined 10
the merits Of the fourth section OF the Acts
OF 1874, which the amendment OF Mr.. Vest
repeals, and sections 8, 1850 and 8, 100 Of the
Revised Statutes, which II re-enacts. The
FIRST mentioned allows any national bank 10
deposit United States notes to the
amount Of the bonds it seeks to Withdraw,
and thereupon withdraw It's bonds
and reduce its circulation, aud requires
It to have fifty thousand dollars
instead Of one-third Of itscapital on deposit
with the Treasurer, irrespective Of the
amount OF its capital. This section OF the
Revised Statutes revives the old law requir.
ing one-third Of the capital Of bank to be
held by the Treasury in United States
bonds, prohibiting the deposit OF green.
backs In lieu oil bonds, and further reqair.
ing the bank seelringto reduce its circula.
ton to deposit its own notes. The latter
feature is the one insisted upon in the dis.
cussion as preventing combination OF the
banks from contraction Of the currency
arbitrarily and without notice before an
action was reached.
Hawley got the floor and the Senate
went into executive session, and soon after
adjourned.
The following is the text the of pending
amendment of Vest TO the funding bill:
From and after the first day Of July,
lSS2, the three per centum bonds author.
lied by this act shall be the only bonds re.
celvable as security for national bank cir.
cCulation, or as security for the safe keep.
ing and prompt payment Of public money
deposited with such banks hereafter or.
ganlEed, and banks applying hereafter for
an increase OF their capital, to the extent
OF such increase. provided, that the SeCre-
tary OF the Treasury shall not have issued
all the bonds herein authorized, or so
many OF thereof IS to make It impossible
Tor htm to issue the amount Of bonds re-
quired; and provided further, that section
4 OF the act OF June 20, 1874, entitled "an
act fixing the amount OF U. S. notes pro-
YidiDg for the redistribution Of national
bank currency, and for other purposes, ~ be
and the sameis hereby repealed, and sections
5,l59 and 8, l60 ofthe revised statutes OF the
United States be, and the same are hereby
re'enacted, with the word "any" stricken
out OF satd section 2,l59, aud after the
word Interest" in said section the words
"at rate 3 per cenLum." An amendent Of
Mr.. Hawiey TO the amendment OF Mr..
Vest modities the latter by striking out
the last proviso, and then adding the fol-
lowing: THAT any National banking asso-
eiatlon now organized, or hereafter organ
lied, desiring TO withdraw its circulating
notes, deposit, Of lawful money, with the
Treasurer Of the United States, as proyi.
ded in section Of the act OF
June Goth, 1874, "An act fix.
ing the amount Of United States notes
providing for the redistribution Of national
bank cuFenCy, shall be be required to
give thirty days notice to the Comptroller
Of Currency Of its intention to deposit
lawful money and withdraw It's circulating
notes provided that not more than S5,00O,.
600 OF lawful money shall be deposited
during any calendar month for this pur-
pose, and provided further that the pro.
visions Of thus section shall not apply TO
bonds called for redemption by the Secre.
tary Of the Treasury.
In the House to-day a number OF bills
were introduced and referred, among them
tina following important ones: BY Mr.,
Berry proposing o constitutional amend
ment preventing State Legislatures from
voting on the ratification OF constitutional
amendments except at the regular session
held following the election OF more
numerous branch OF the State Legislature.
Also, to regulates railroad fares. II makes
it unlawful for any railroad company Ia
charge fare for the transportation OF pas.
sengers in excess Of the following rates per
mile: Under 100 miles. 4! cents; over loo
and under 800, cents; over 800, 3! cents.
Also proposing constitutional amend.
ment making u person holding office OF
President ineligible for reelection, bro.
viding that at the end OF his term OF office
the President shall receive u pension Of
$4,000 perannum, and declaring the Cubi-
net officers ineligible for election to the
Presidency for the term following that
during which they held such Office.
By Mr.. Phelps An. apporiionment
bill fixing the number Of Representatives at
247. ~
For the admission Of Arizona and Idaho
into the Union us States.
The Committee on Education and Labor
reported back the bill to regulate, limit
and suspend the immigration Of Chinese
laborers was made special order for Feb,
ruary Z.
The Consular and Diplomatic appropria.
ton bill was reported. Il appropriatcs
81, ,198,5sO, being Sl2,452 less than the
amount appropriated last year, and 81 525
less than the estimates.
The resolution was reported back calling
on the Secretary OF the Interior 10 commu'
nicate the decision Of the Commissioner Of
the General Land Office, declaring the
land grant made the Northern Pacific
tapsed, and the text OF the decision of his
predecessor, Carl Schurz, ovcrruling the
decision OF the Commissioner OF the Gen.
eral Land Office and restoring the grant Of
land TO the Northern Pacific without refer.
ence OF the matter to Congress. Adopted,
The resolution calling for all the core.
spondenCe between the State Department
and t g United States Minister at St.
Peters burg, relative to the expulsion Of
American IsraClites from Russia and the
persecution Of the Jews in the Russian
Empire, was adopted.
A MIDwINTER mILLroS.