New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-05-02
THE NATIONAL BANK BILL ~ DE WV
SIDERED.
inv rgLgGRAPu 10 THE rRiBuNE'I


THE NATIONAL BANK BILL 10 bh o'N
SIDERED.
Try TELEGRAPH TO THE rRiBuNEI
WASHINGTON MAY 1.-The Dernocia''o N"
Sank haters in the House OF REPRESENTATIVES, "'i.
defeated to-day aud by vote OF lou u o'' ~
NaoI,;on was adopted fixing Tuesday of next week
t the consideration of the bill 10 provide thaI 'ne
.harters of National banks may be extended
A. nre>ented by Mr.. Grape to-day, the resolution
,.ar.d materially from the which had beeh
.,rice defeated and it was apparent tha' lnc
hoces had been made in order to capture lhe
,,es of Democrats who, while they dare mol assam
~. National banking system openly and directiy'
40 willing to do all they can by lnSldious ATTACKS W
;,nle IFS usefulness. Indeed Mr.. Crapo hmsel sac
tbst he had supposed that an understanding h"o
hsen reached which wonld prevent any opposiuon
+o the resolution MessTs. Hatch, McMlillIl' auu
others excitedly demanded to know WIN "noun'
~ whom. when and where" any such arrangement
had been made; and the inquistive Mt. Mills Vi
,exas wanted also to know whether MI OraPo
would vote for the proposed amendments 10 INC
lil Tho curiosity of none of the lnqulrers was
srati6ed. . t,o+
Az modified the resolution provides IN terms tia''
when the bill shall come up, ii shall he III oroei
=. o0er and have considered amend
,nspts to prohibit National banks from
,.i,h1rowinc their bonds deposited to
- circulation on depositing lawful money for
tbo REDEMPTION of their notes; providing tha'
c++ corrts NAV have jurisdiction of suits allect-
49,; National hanks IN the localities where they are
it,ot4d affecting the right of National banks 10
land money on real estate security; substitute
far the whole bill. and ans other aiheuuIHeh'S
which may be germane to the bill
Tborc wac n halfhour's discussion, mainly con-
fined TO the merits of the proposed measure MI
Buckner of Missouri, member OF the committee
on Banking and Currency. occupied the time III op-
rosition to the bill Mr. Buckner did not disclose
the remedy which he would apply, but he makes
no secret of his desire that the National BANK cur
repcy shall be abolished and Treasury notes De
substituted therefor.
Waldo Untchins advocated the resolution, ana
made n futile aud hopeless appeal to his party aS'o-
ciates to act in this matter with wisdom and palrl-
ot,,m. Mr Hardenbergh of New-Jersey, also ad-
yocated the resolution. and again called attention
10 the fact that unless some action shall be taken
by Congress at this session, there will be dlsas-
trous contraction of the currency within the next
few moaths Mr. Hardenbergh illustrated his atgu-
p,ent bv explaining how the National bank of which
he is president would be affected should Nc action
be taken ,.,.,
shall pass his bank will be compelled to 60 INTO
liquidation 7" asked Mr.. Mills, of Texas.
I" | Go," replied Mr.. Hardenbergh.
Then Mr. Speaker" exclaimed the Texas states
nan, make the point of order that the gentleman
Mas no right to vote on this resolution OF Oh the bill
itself because he is personally interested"
No attention was paid to this point OF order MT
Mills renewe ed 1t immediately before the vote was
taken and the Speaker remarked that the matter
was one between the member and his own con
science and therefore the Speaker could not inter
fere Mr. Hardenbergh voted for the resolution, as
md about thirty other Democrats and all the Re-
;ublcans present. Fifty-nine Democrats anG SIX
tireeDbackcrs made up the negative vote. = 5
Cox was the only New-York Representative who
voted In the negative.