The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-02-26
PROCEEDINGS OF CONGRESS-
TIE SENATE.
The Bill Providing for National Bank Cir
cuIation.

The Bill Providing for National Bank Cir
cuIatiOn.
WASHINGTON, Feb. 25.-N[r. Logan, from the
committee on judiciary, reported two original
resolutions, which were agreed to-, relative to
railroad lands one calling upon the Secretary of
the Interior to inform the Senate whether any
of the railroad companies mentioned in the act
of May 7, 1878, had failed to comply with the
requirements of said act, and when and in what
respect they have failed, and whether they had
subsequently complied; and, further, whether
said companies had paid dividends, and to what
amounts, and what steps, if any, had been
taken to enforce the provisions of said act. The
second resolution called on the attorney general
to furnish similar information.
Mr.. Voorhees, offered preamble and resolu-
ton, which was referred to the committee on
judiciary, instructing that committee to inquire
concerning leases of land in the Indian Terri
tory for cattle grazing, how much money had
been paid into the Treasury for such leases, and
whether such lessees had surveyed the lands, etc.
Mr.. Ransom offered joint resolution to ap-
propriate 100000 for the relief of the sufferers
by the recent great wind-storm in the Southern
States. He said that over 500 people have been
killed, and many thousands wounded and suf
fering, resulting from the awful storm. Messrs.
Messrs. Harris and Morgan opposed the reso-
luton on the constitutional grounds that
neither had received the request from his State
for government aid
Mr.. Garland thought the measure constitu-
tional
Mr. Voorhees, thought these sufferers should
not be left entirely to private charity.
The resolution was referred and the Senate
resumed consideration of the currency bill, and
Mr.. George spoke in opposition to it.
At the conclusion of Mr. Georges speech, a
vote being taken on Mr.. Vests amendment, it
was rejected-yeas IA, nays &C.
The question recurring on the bill as modified
by the amendment of Mr. Morrill,, 1t was passed
yeas 43, hayes IL.
The bill as passed is as follows:
Be it enacted etc. that upon any deposit already
hereafter made of any United States bonds bearing i'm
terest in the manner required by law, any national
banking association making the shall be entitled
to receive from the Comptroller of the Currency circ
ating notes of different denominations in blank and
countersgned provided by law, not exceeding in
whole the amount of the par value of the bonds de-
posted; provided, that at time shall the total
amount of such notes issued to any such association
exceed the amount at such time actually paid in of its
capital stock and that all laws ard parts of laws in
consistent with the provisions of this act be- and the
same are hereby repealed.
Sec. 2. That associations organized for the purpose
of issuing notes payable in gold under the provisions
of section of the Revised Statutes of the United
States, upon the deposit of any United States bonds
bearing interest with the Treasurer of the United
States shall be entitled to receive circulating notes to
the amount and in the prescribed in the act
for other national banking associations
See. g. That all laws and parts of laws of the United
States inconsistent with the provisions of this act be-
and the same are hereby, repealed.
The presiding officer then laid before the Sen
ate the bill to authorize the construction Of ad-
tional steel vessels for the navy.
After executive session, the Senate adj ourned