The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1882-05-19
BANKS
Of a National Character.
Debate Yesterday for their
Existence.
IreIand, "A Feeling against
Parnell.
The agitation to be continued
Hs-4t----
Sporting, Criminal and Ac-
eidents, General News.
The agitation to be continued
CONGRESS-.
HOUSE.

CONGRESS-.
HOUSE.
WASHINGTON, May 1S-On motion of
Mr.. Kasson, the bill passed providing that
auy person being originally a citizen of
the United States who has been natural
lied as subject of Great Britain may
nublicly declare his renunciation of such
naturalization and resume his character
and privileges as a citizen of the United
States by signing an instrument to that
effect.
The house resumed consideration of the
hank charter extension bill the pending
question being on the amendment offered
by Mr.. Buckner, reducing the period for
which banks, may extend their charters
from twenty to ten years. Lost-92 to
116.
Cameron offered the following amend
ment as an additional section to the bill:
That the national banks, now or hereafter
organized, holding a capital of $150,000
or less, shall not be required to keep on
deposit with the treasurer of the United
States bonds in excess of Sf0,O as secu-
rity for their circulating notes, and such of
those banks having on deposit bonds in
excess of that amount are authorized to
reduce their circulation by the deposit of
lawful money as provided by law.
Adopted yeas, 102; nays, 100. Cameron
moved to reconsider and lay that motion
on the table. Agreed to-yeas, Ill;
nays, 81, s~s.~-.
Hammond then offered his amendment
providing that the jurisdiction for suits
hereafterbreaght by or against national
banking associations except suits between
them and the United States or it's officers
or agents shall be in the same jurisdiction
as for suits brought by or against banks
not organized under any United States
law which do or might do such banking
business, where such national banking as
sociation may be doing business when
such suits may be begun; which was
agreed to.
Rada1l offered the amendment providing
that the organization of any banking busi-
ness intended to replace any existing bank
ing business retain the name thereof.
Holders of stock of the expiring associa-
ton shallbe entitled TO preference in the
allotment Of shares in the new association
in proportion to the number of shares in
the old association held by the different
Stockholders respectively. The amend
ment was adopted. - -@
Holman offered an amendment previd
ing banking association which shall obtain
benefit OF this act shall pay the cost of
preparing plates for such new circulating
rates as shall be issued it and all other
costs incident tosthe substitution of such
new circulation rates for old, in addition
to the tax now imposed on banking asso-
Citations by law. Adopted
On the motion Of Crapo ethe following
amendment was inserted at the endsof
section seven of the bin and the franchise
of such associations as is hereby ex xtended
for the sole purpose of nquidating their
affairs until such affairs finally may be
Section seven has reference to banking
associations which do not avail themselves
of the privileges of the act.
Randall then offered his amendments o as
an Independents section. Crapo offered as
substitute the following: THAT any
National Banking Association now organ
lied desiring to withdraw its circulating
notes on depositing lawful money with the
Treasurer of the United States, as pro-
vided in Sec. d, act of June 20, 1874, shall
be required to give 90 days notice to the
secty of the Treasury of its intention, de-
posit lawful money and Withdraw its
circulating notes, provided that not more
than Five million dollars lawful
money be deposited during any calendar
month for this purpose. and provided, fur
ther, that the provision in this section
Shall not apply to bonds called for re-
demption by the secretary of tlae treasury,
Dut, when bonds are called for redemption,
banks holding such called bonds shall sur
render them within thirty DAYS after ma
tarity of call. Randall declared his will
hngness to accept the substitute. Haskell,
OF Kansas. said he had intended to vote for
the pending bill, but be was not prepared
10 support it since the amendment offered
Dy Cameron had been adopted, because it
radically changed the national banking
system, He dare not cast his vote for a
proposition that would open the door to a
possible contraction of currency that
might reach 500, ,0oo, ,ooO Cameron op
posed the amendellt offered by Grape.
Inc effect of it, he contended. was to or
game corner on 4s and 4}s and squeeze
oanks out. Atkins moved to adjourn,
pending which the speaker laid before the
mouse . message from the president, trans
mittng the concluding report of the sec
fetary of state and accompanying papers
seiatiVe the Imprisonment of Thomas
shields and Charles Webber in Mexico.
Referred
oonger failing to secure immediate CON
''Asea''on OF bills for public buildings,