Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1882-01-13
CONGRESSIONAL.
SENATE,

WASHINGTON, January 12-The
president presented a communication
from Isaac n. Arnold, president Of
the Chicago Historical Society, ask
ing the CO operation of Congress in
celebration on April 9th, at New Or
leans, of the 200th anniversary of
the discovery of the mouth of the
Mississippi River, by Robert Cavalier
De Lazelle.
Senator Frye reported from the
committee on rules a resolution
authorizing the select committee on
woman suffrage to employ clerk.
Adopted.
At1:25 o'clock the Sherman Fund.-
ing bill was proceeded with, Senator
Garland having the floor.
On motion of Senator Teller, his
resolution calling on the Secretary of
the Interior for detailed information
in regard to the decisions of the
Commissioner of the General Land
Office, and the former Secretaries of
the Interior, affecting the land grant
of the Northern Pacific Railroad
Company, was taken up.
Senator Allison moved an amends
ment to include in the call for infor-
nation any opinion of the Attorney
General on the subject. Agreed to
and the resolution was passed.
Senator Garland argued to show
that the relation of banks to the gov
ernment was that of mere fiscal
agents, and that Senator Vests
amendment waslogical and legal
sequence of funding. He was not
welded to the idea of three per cent.
bonded debt, and was willing to take
the assumption of the saving of ST.
100000 annually for what it was
worth.
Senator Allison's amendment call
ed for information whether upon
Senator Garland's construction of its
language, Senator Vest S amendment,
making the new bonds the sole basis
of the bank circulation, would re-
quire banks having 81 per cents. on
deposit, to surrender those and take
three per cents. He did not so un-
derstand it.
Senator Garland-"We will try to
make it broad enough to cover that. "
Senator Plumb renewed his
amendment so as to require the use
of all funds now in the Treasury for
the redemption of United States
notes in excess Of S100,000,000 in re-
demption of 81 per cents; such re-
demption to be made in not less
than three installments and said sum
of Sl00,000,000 so left in the Treas
ury, shall not be increased or dimin
ished except in the redemption of
United States notes. He also gave
notice of additional propositions and
proceeded to argue that upon any
calculation of interest, the Cover
ment would now lose more than it
could realize by an attempt at reA
funding.
Replying to Senator Allison's in
quiry, Senator Vest explained that
his amendment did not apply to
bonds held by banks now. It mere
ly applied to bank now in existence
which seeks to increase it's capita
after July l, 1882, or to new bank
which seeks to go into business after
that date.
The debate was continued by Sen
ators Allison, Sherman and Plumb.
The fact becoming apparent at 4:20
that, as several Senators desiring to
speak had not yet participated in the
discussion, the bill was informally
laid aside until Monday.
Bills were introduced as follows:
By Senator Jones: For the relief
of the Mechanics and Traders bank
of New Orleans.
BY Senator Edmunds: Relating
to quorum of the Supreme Court
of the United States; providing that
hereafter majority of the justices,
instead of six, shall constitute a
quorum.
By Senator Kellogg: To extend
the limits of the port Of New Orleans,
and making an appropriation of
100000 for the improvement OF the
harbor.
By Senator Johnson: By request,
three bills, as follows: To authorize
the coinage of silver dollars, and
fractions thereof, of full standard
value upon the metric system. To
authorize the coinage of goloid
metric dollars, two dollars, and fras-
tions of dollars; and also the coinage