Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-05-19
THE BANK CHARTER
Extension Bill Further Considered in the
House, and a Number OF Important
Amendments Adopted.
Message from the President Relative to
the Imprisonment Of American
Citizens i'm Mexico.

ton of Mr.. Kasson, the bill was passed pro-
viding that any person being originally q
citizen of the United States who has been
naturalized as a subject of Great Britain
may publicly declare his remuneration of
such naturalization and resume his character
and privileges as citizen of the United
States by signing an instrument to that effect.
The bill passed changing the boundaries of
the Fourth collection district of Virginia,
and making Newport News port of entry.
The House resumed consideration of the
bank charter extension bill, the pending
question being on the amendment offered by
Mr.. Buckner reducing the period for which
the banks may extend their charters from
twenty TO ten years. Lost-yeas, go; nays, 1l6.
Mr. Springer offered an amendment pro-
viding that all charters of national banks
shall expire at the end of twenty years from
the LIST of January, 1883, unless Congress
shall provide for an earlier period for the
expiration of such charters. Rejected.
Mr. Cannon offered the following amend
ment as an additional section TO the bill:
THAT the national banks now organized, or
hereafter organized, and having capital of
$4,000 or less, shall not be required to
keep on deposit with the treasurer of the
United States United States bonds in excess
of the 100000 held % security for their
circulating notes, and such OF those banks
having on deposit bonds in excess OF that
culation by a deposit of the lawful money
provided for by law" Adopted-yeas, 102;
nays, 100.
Mr.. Cannon moved to reconsider it, and to
lay that motion on the table. Agreed to
yeas, Ill; nays, SO.
Mr.. Hammond then offered his amend
ment providing that jurisdiction for suits
hereafter brought by or against national
banking associations, except suits between
them and the United States or Its officers or
agents, shall be the same as jurisdiction for
suits brought by or against banks not organ
lied under any law of the United States
which do or might do banking business,
where such national banking association
may be doing business when such suits may
be begun. Agreed to.
Mr.. Randall offered an amendment pro-
vidipg that the organization of any banking
association intended to replace any existing
banking association. and retain the name
thereof, the holders of stock in the expiring
association shall be entitled to preference in
the allotment of shares in the new associa-
ton in proportion to the number of shares
held by them respectively in the exp irlng as
ISOLATION Adopted.
Mr.. Holman offered an amendment pro-
viding that every clearinghouse association
which shall obtain the benefit of this act,
shall pay the cost of repairing the plates for
by it, and all other costs incident to substi-
tuting such new circulation for the old, in
addition to the tax now imposed on banking
associations by law. Adopted.
A wordy war here ensued, Messrs. Brumm
[Pa1, Bland, Burrows Mol, Jones Tex.
and Ford Mo- participating.
On motion of Mr.. Grape the following
amendment was inserted at the end of sec
ton of the bill: sand the franchise of
IL E. Al.
sole purpose of liquidating their affairs until
such affairs are finally closed"
Section has reference to banking associa-
tons which do not avail themselves of the
provisions of this act.
Mr. Randall then offered his amendment
as an independent section.
Mr. Grape offered, as a substitute, the fol-
lowing: "rhat any national banking asso-
citation now organized, or hereafter organ
lied, desiring to withdraw its circulating
notes upon a deposit of lawful money
with the treasurer of the United States as
provided in section 4, in the act of June 20,
1874, shall be required to give ninety days
notice to the secretary of the treasury OF its
to deposit lawful money and
withdraw its circulating notes, provided not
more than IS, 100000 of lawful money shall
be deposited during any calendar month
for this purpose; and, provided further, that
the provisions of this section shall not apply
10 bonds called for redemption by the
of the treasury, but when these
bonds are called for redemption, said banks
holding such called bonds shall surrender
them within thirty days after maturity of
the call"
Mr.. Randall declared his Willingness to
accept the substitute.
Mr.. Culbertson Tex. moved to amend
the amendment by providing that no bank
shall surrender any more than one-tenth OF
its circulation in any one year. Rejected.
Mr.. Haskell KS. said he had intended to
vote for the pending bill, but he was not pre-
pared to support it since the amendment
offered by Mr.. Cannon had been adopted,
because it radically changed the national
banking system. He dare not cast his vote
for proposition that would open the door
to a possible contraction of the currency
that might reach $10,000,000.
Mr.. Cannon opposed the amendment
offered by Mr.. Grape. The effect of it, he
was to organize a corner on TOURS
and fours and half and squeeze the banks
out.
Mr.. Atkins moved to adjourn, pending
which the Speaker laid before the House
from the President, transmitting the
report of the secretary of state
and accompanying papers relative to the
of Thomas Shields and Charles
Webber in Mexico. Referred. Among the
papers is copy of a letter signed by Shields,
Weber and Salm, to Representative Bayne
Pa l. as follows: ave are released from
all and have had an interview with the
Hon. D. H. Morgan, and, from evidence pro-
iuced we are satisfied that he has done all
in his power for us. We make this state
nent without any mental reservation."]
The House then adjourned.
Sendte-The Senate resumed discussion on
he extension Of the Spendlaw steam grain
shovel patent The bill was indefinitely
25; nays, 10.
The House bill authorizing the receipt of
United States gold coin in exchange for gold
oars passed.
The bill passed to refund S22, III to Hiram
Johnson and forty-six Others being sur
plus OF the military assessment paid by them
md accounted for by the United States in
excess of the amount required for the in
lemnity for which it was levied and col
ected.
Senator Conger, failing to secure imme-
iiatc consideration of the bills for public
buildings, said he would urge action on
hem tomorrow.
The five per cent. land bill was then taken
lp. The bill was considered at some length,
senator's Salisbury, Vance, Conger, Allison,
dcDill and Morgan participating, after
which Senator Morrill, gave notice of amend
nents, and the bill went over.
After an executive session the Senate adj