The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1882-06-17
LATEST TELEGRAMS.
XII VII CONGRESS-.
REGULAR SESSION.
SENATE.

- q
Washington, l6.-Hoar introduced
a bill providing that in the case OF
the removal. resignation. inability
or Death Of the President and Vice
President, the succession to the
Presidency shall fall On members of
the cabinet, beginning with the sec
rotary Of state and concluding with
the secretary OF the interior, in the
same order as named in Waihing-
tons cabinet, and excluding uncon-
firmed cabinet officers.
Garland said the proposition now
presented was identical with that
which he presented and urged last
January; and he was glad to know
that Senator Hoar realized its i'm
portance. He suggested the refer
ence OF the bill to the judiciary COM
mittee iii which his own measure
was still pending. So ordered.
Blair introduced a bill for statue
IN Washington of Benjamin Frank
lin.
The Senate bill authorizing the
Oregon Pacific Railroad Company
to construct bridges across the
Willamette River, Oregon, passed.
The bill to Inappropriate $3.50, 900
to pay southern mail contractors for
services prior to the secession OF
their states, was taken up. After
discussion the bill went over.
Bank charters extension bill was
read for the first time, upon the COM
mittee amendments. A proYiso in
serted by the Senate committee to
exempt national banks from attach
ment and injunctions by the state
court. was objected to by Vest who
said he could see no reason for ex-
emption.
Allison, in charge of the bill, ex-
planned that the existing law gave
the United States courts sole juris-
dictiOn in relation to these banks.
The House had inserted q provision
giving the state courts jurisdiction.
The Senate committee had merely
inserted in this provision a proviso
that had existed in the national
banking law since its creation.
Sherman said the bringing Of suits
against banks in state courts was
not to interfere with, but merely to
issue arbitrary process against a
falling bank, fer which the national
banking law pointed out the differ
ent modes applied only to cases of
bankruptcy. The House, in obedi-
ence to popular demand had adopted
q principle that national bank is
not an Institution foreign to the
state and its people. -
Jonas, of Louisiana, contra
verting the statement Of Sherman
that the purpose of writs OF
injunctions as applied to a
national bank is merely to
marshal or protect assets, stated
that in nine out of ten cases, it was
used as means of defense to pre-
vent some illegal or tortuous act.
He moved to strike out the word
'injunctiens" from the exemption
proposed. Agreed to.
The committee amendment was
voted down-yeas "a, nays 47. The
affirmative vote was wholly Tepub-
lican. The democrats voted no, and
were reinforced by Dawes, Miller,
of California; and Mitchell, Davis, OF
Illinois, and Malone voted yea.
The bill was proceeded with up to
the sixth section, providing that all
notes of existing banks now IN cir
culation shall be returned, destroyed
or cancelled, and new notes bearing
different dates and descriptions sub
stituted for them, as they come IN
and are redeemed. This section, as
passed by the House, provided that
whenever the old circulation was re-
duced to 5 per cent. OF the capital
stock of banks, banks should depo-
sit lawful money for that 3 per cent.
amount.
Allison said it was the opinion OF
the finance committee that the bank
intending to evade this proposition
could very easily do so by laying
aside portion of its circulation and
not taking new circulation for the
old. Therefore they were uBanlm-
out that the per cent. provision was
unWise. All members, however,
had agreed to the general PROPOSE
ton of circulation; they believed
some three years would elapse be-
fore the great body Of these notes
would come under the ordinary pro
cess of redemption, and had inserted
a three year period as securing the
necessary time.
Beck offered an amendment to re-
quire banks, at the end OF one year,
instead of three years, to deposit
lawful money for whatever portion
of the old notes may not be in at that
time.
Allison objected, as this would
necessarily involve the large con-
traction Of the volume of paper
money. 1t was possible that, after
authorizing banks 10 put into
the treasury lawful money for
tnQJT PIrart Io{SNa aud h0Ulnn TINS