The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1884-06-18

|
oy dead silence In the chamber and the
crowded galleries. When Mr.. ingalls,
added This Is all I desire to say, sir. In
was heard, and the galleries were instantly
hali-emptiedl
Mr.. Hampton said that In Justice 10 both
senators he ought to say that he Hampton)
was sitting just by the Senator from Geor-
gla when he used one OF the expressions
referred to, or words OF their tenor and ef-
iect, the Senator from Kansas not being at
the time In his seat but in the back aisle OF
the chamber.
On motion OF Mr.. Sherman, Mr.. Ingalls's
motion TO expupge the word, complained
OF was laid on the table.
Mr.. Sherman. in calling up Mr.. Buffers
resolution OF inquiry into the condition OF
the New York banks, made a verbal report
from the Committee on Finance. After re-
viewing the circumstances attendant upon
the recent financial troubles in New York
city, Mr.. Sherman contended that all that
had been done TO prevent the panic had
been done by the banks themselves.
Mr.. Sherman submitted a statement
showing the condition OF the associated
banks OF the city OF New York by weeks
from May 3lst to June a., 1884, which
would give the Senator from South Caro-
lima almost all the information called for
by his resolution. 1t contained statements
OF eighty-three banks showed the amount
OF loans, the amount Of specie and OF legal
tender on hand, the amount Of deposits
and OF circulation rs well as OF reserves.
The general result to be gathered from the
statement, Mr.. Sherman said, was that
there was a very greatly improved condi-
ton OF the banks Of New York. Imme-
diately after the panic the reserves were
very largely drawn upon, the legal re-
serves being sometimes reduced to one
half the amount required, but every
bank had within thirty days made its
reserve good. The statements showed
that although the amount OF clearing
house certificates was one time s24,-
| 100000, it bad been reduced to $500, 900
now in actual use; S6,3O0,000 OF them had
been cancelled, about SG,000,00 were now
held in hand. and they were diminishing
at the rate OF S1,00O,0O0 daily. Mr.. Sher-
man felt satisfied that a normal condition
OF affairs Will very shortly be resumed.
Mr.. Sherman had not been authorized by
the committee TO speak for it as to any
specific legislation IN the nature OF a rem
edy for the troubles complained Of. There
was one thing, however, which he would
| personally uggest-namely, that there
| should be severe and stringent law pro-
hibiting bank officers other than directors
from dealing in speculative operations.
He would not extend such prohibition to
& directors because they were generally
| businessmen. Whether the law on the
subject. however, would be effective he
did not know. He read resolution pro-
| posed by John C.. Emo to the directors OF
In i
mously adopted. expressing their emphatic
! disapproval OF the practice OF dealing in
speculative ventures by officers OF banks,
and expressing determination not to en-
| pOy as an officer any person guilty OF such
conduct AT the very time, apparently,
| that Emo had drawn up this resolution he
was himself engaged in the very things he
was dcnouncing. The substance OF such
| resolution should be embodied in the
law, and bank officers should be punished
for an iniracton OF that law.
| Mr.. Beck said that the papers exhibited
| by the Comptroller Of the Currency to the
Senate Committee on Finance this morning
not only showed that he had vigilantly
| prosecuted offenders, but that he was in
possession Of. papers the contents OF which
| the Senate would not desire, in the interest
Of jus ice, to see made public. lie thought
that officer was doing all that could be
done
The matter then went over. and the
Utah bill was placed before the Senate.
The question pending was on the amend
ment OF Mr.. Vest to the 1st section OF the
bill. That section provides that "a lawful
husband or wife shall be competent wit
ness in prosecutions Tor blgamy, and may
be compelled to testify" Mr.. Vests
amendment provides that in no case shall
such husband or wife be competent
witness except as to the fact OF q lawful
marriage having been contracted.
The legal bearings OF the question in
volved in the right OF the husband or wife
to testify one against the other was dis
cussed by Messrs. Garland, Lapham, Nor
gan. Call. and Bayard, and the amend
ment on reaching a vote was rejected
yeas. IS; nays, 80.
Other amendments relating to witnesses,
ETC., were discussed till 6 O'Clock. when the
Senate adjourned. Before adjournment
Mr.. Hoar secured an agreement that vote
should be taken on the bill at O'Clock to-
morrow.
House OF Representatives.
Mr.. Holman, Of Indiana, asked unani- |
nous consent TO offer resolution
directing the Committee on Foreign Al
fairs to inquire into the proceedings OF
the French and American Claims Com |
mission as to whether they were according
to public law, justice, and equity, and
without fear, favor, or affection, with |
powe. to send for persons and papers.
Dir. Poland objected.
Mr.. Slocum, Of New York, presented |
the conference report on the Fitz. John !
Porter bill. The effect OF il is to strike !
out OF the bill the words together with |
all rights, titles, and privileges" and to
insert the words "provided that the said |
Fitz. John Porter shall receive no pay, |
compensation, or allowance whatsoever |
prior to his appointment under this act"
instead OF the following words in the bill
" But this act shall not be construed as au-
thorizing pay, compensation, or allow
ances prior to his appointment under it,"
The conference report was agreed to-
yeas, 15S; nays, 81.
Mr.. Young, OF Tennessee, presented the
testimony taken in the Hot-Springs In
yestigation. Ordered TO be printed. Re-
committed.
Mr.. Payson, OF Illinois, from the Com
mittee on Public Lands, reported back the
bill TO restore all lands held in indemnity
limits for railroad or wagon road purposes.
Placed on the calendar.
The House then, at II O'Clock, went into
Committee Of the Whole (Mr. Dunn, OF
Arkansas, in the chair on the deficiency
appropriation bill.
When the committee had reached the end
OF the bill, Mr.. Randall, OF Pennsylvania,
moved as an additional section PROPOSE
ton against political assessments, making
1t unlawful for any Senator, Representative,
or Delegate, or any clerk or employee OF the
Government, or any contractor with the
Government, TO contribute directly or in
directly for any political object whatever.