Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1884-05-20
PORTY-EIGHTH CONGRBSS.
First session.
sen ATE.
WASHINGTON. Nav 10.

over the Senate today, having been designat
ed for that purpose under the rule by the
President of the Senate.
The following bills were reported favora-
bly, from the committees and placed on the
calendar:
From the committee On pensions, to amend
the pension laws by increasing the pensions
Of soldiers and sailors who have lost an arm
or leg and for other disabilities contracted
in the service.
From the committee on judiciary, to limit
the time within which prosecutions may be
instituted against persons violating the in
ternal revenue laws.
MIR. Sherman from the committee on the
library reported the current resolution which
the Senate agreed TO, accepting the portrait
in mosaic of the late President Garfield, the
work of DIR. Salviati of Venice, Italy. The
resolution also conveys the thanks of Con-
gress TO DIR. Saiviati.
The chair laid before the Senate a resolu-
tion offered Thursday By Mr.. Morgan, di-
recting the committee on finance to examine
the causes of the recent failures of the Ma
tional banks and whether such failures are
due TO violations and evasion of the law on
the part of the officers or directors of the
banks.
Mr.. Morrill, moved to amend by substitut-
ing. ''for the purpose of investigation" and
''comptroller of the currency" for ''finance
committee"
Mr.. Morgan said that the very reason why
he had moved to devolve the duty on the
committee was because the officers who had
been appointed to see that the banks COM
piled with the laws, had not Away performed
their duty. There was, for instance, law
against Over-certification of checks. 1t had
become notorious and was utterly disregarded.
A.,t Esl.z A.
the subject in July, 1882, New York news
papers had broken out into spasms of merri-
ment, and told Congress that the banks
laughed at the acts of Congress, aud were
beyond Congressional control. The failure
of the Marine Bank had been due to the fact
that the bank was connected with a firm of
brokers; that the bank had supported the
firm of Grant Ward in all the wild schemes
in which the young spectators saw proper
to engage. The spectacle had been presented
to the world that argued painful condition
of commercial honor in the city of New
York. There had been a time when the
honor of New York merchants was a standard
for all the world and was SYNONYM for
probity. What has it become? 1t has be-
come by-word. reprOach and cause of
suspicion. 1t had only to be said of Ward
that he was engaged in speculative transac-
impression that he was a robber and gambler.
man of no honesty or commercial integrity.
Mr.. Morrill, modified his motion by moving
a reference of the resolution to the finance
committee.
Mr. Bayard supported the motion. He
thought the laws now on the statute books
were sufficient, if enforced.
Mr.. Morrill, said there had, in this instance,
been no money lost from over-certification,
except in the case of the Marine Bank and
there had been no disturbance of credit out
side of New York.
Mr.. Sherman supported the reference. He
had been in New York the day when the
trouble occurred and he could assure the
Senate, although there might here and there
been over circulation of checks vet that had
not been the trouble. In every case the
trouble was caused by speculative operations
of officers of banks and in some cases by GER
tifying checks, but by non-certi6cation. The
proper remedv would be to prescribe Sc
we're penalty against any dealing in speculs-
tive transactions by officers of banks or using
of monev of bank in any transactions that
officer might engage in. He said there was
no special use in committee investigation
in New York. We had government officers
there who could give US all the needed in
formation. If the committee go there to
regard to the failures it might embarress
others.
Mr. Morgan said that the fears of the Sena-
tor from Ohio (Mr. Sherman) were ground
less if he supposed that any INJURY could come
to the proper business of the country by the
Investigation proposed.
MIR. Morgan criticised the action Of the
secretary of the treasury for his interference
in the late troubles, and the officers of the
government generally for not seeing that the
banking laws were enforced.
The resolution without the objection by
Mr. Morgan was referred to the committee
on finance.
A message from the House was read an
nouncing non-concurrence in the Senate
amendments to the Indian appropriation
bill.
The Senate insisted on its amendments.
and agread to the appointment of a COM
mittee of conference.
The chair having announced the regular
order of business to be the Utah bill. Mr..
Blair attempted first to secure the considera-
ton of the bill for the creation OF a bureau of
labor statistics.
Mr.. Hoar contended that the Utah bill had
precedence, but consented to let it go over.
Mr.. Morgan resumed his remarks in sup
port of Mr.. Garland's amendment, which
places the cOllectlOn OF laOOr STATISTICS IN
charge of the statistical bureau of the treas
ury department.
Mr.. Van Wyck moved to amend by re-
quirng that the chief of the bureau of statis
tics should be identified with the laboriug
classes and prohibiting the importation of
foreign laborers from any country under con-
tract.
Mr. Blair had read letter from the chief
of the bureau of statistics in which he ex-
presses the belief that adding to the bureau the
functions of bureau of labor statistics will
be incongruity and very undesirable.
Pending debate the Senate went into ex-
ecutive session and later adjourned.
HOUSE.
Mr.. Turner of Georgia. chairman of the
committee on elections, said owing to the
fact that the report on the contested election
case of Wallace VS.. Mckinley had not been
properly distributed, he would not call up
that case for consideration today. but would
postpone doing so until tomorrow.
Mr. Mckinley hoped thst the case would
be disposed of today, or that its considera-
tion be postponed for one week. He had i'm
portant business to attend to during the re-
n, 4. ;ndar of the week and IL wuuld be very