Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1886-03-09
FORTY-NINTH CONGRESS-.
First Session,
SENATE.
w surNrrnN \


WASHINGTON, March s.
Among the petitions were a large number
from local assemblies of Knights of Labor
favoring the building of the Hennepin canal.
MIR. Plumb said they all seemed to emanate
from the same central source, AS they were
handsomely printed, and while greatly re-
specting the bodies that sent the petitions, he
presumed that there must be some strong
private interest behind this movement in the
interest of the canal.
Mr.. Cullom thought it was matter OF
great public interest,
The morning business having been dis
posed OF Mr.. Bowen addressed the Senate on
the subject of his bill to provide a new basis
for the circulation of national banks.
The bill provides that banking associations
shall deposit with the United States treas
urer silver dollars, gold dollars and United
States bonds to aggregate the amount OF
10 per cent of the circulating rates as de-
sired by such association. In lieu of these
they are to get United States notes for SlOO
for each $40 so deposited. The active circu-
lation OF the United States shall be $50 per
capita of the population and the secretary of
the treasury shall assume the population to
be 60,000,000. The volume of the currency
is to be increased yearly at the rate of three
AID One-third per cent. The government
shall have the first lien on the bank as fur.
ther security for the notes issued, and indi-
vi dual stock holders shall be liable to the ex
tent of twice the par value of their shares.
The per capita of circulation shall not be
held to include the bank reserves fixed BY
low or the gold and silver that may from time
to time be in the treasury. The new notes
are to be legal tender for all debts, public or
private, except customs dues and principal
and interest of United States bonds, made
payable in coin. The bill also gives the Sec
retary Of the treasury, with the approval of
the President, authority tG suspend and re-
sumo specie payments by the government
from time to time, whenever in his judgment
the same will be conducive to the safety and
to the business interests of the country.
The bill that Mr.. Bowen had introduced
WAS intended, he said, to provide a remedy
for the ever-present menace and supreme
danger that would stare us in the face as long
as the volume of circulation depended on the
ever changing interests of the national banks.
Those banks were not the guardians of any
interests except their own. His Mr. Bow
en's) bill provided for the issue of all money
by the government and that no retirement
and consequent contraction could ever occur
The circulation of the national banks would
consist of the same kind of money as the di-
rect circulation of the government and the
provision being made for keeping the whole
amount in circulation the banks would be
shorn of their present dangerous power.
At 3.20 ?. NJ. Mr. Stanford announced to
the Senate the death of Senator Miller of
California, and out of respect to the memory
of the deceased senator, moved an adjourn
ment.
The Senate then adjourned.
HOUSE.
Under the call of the states the following
were introduced:
By Mr.. Symes of Colorado-To provide
for an equitable inheritance of business of
railroads engaged in interstate commerce.
By Mr.. Seymour of Connecticut-Propos-
ing constitutional amendment requiring
Congress to make provision by general law
for bringing suits against the United States
forbidding the passage of the special acts
making compensation for any claim against
the United States.
By Mr.. LYMAN of Iowa-For the better
protection of the lives of officers and men in
the United States navy.
By Mr. Boutele of Mane-Providing that
printed reports of all religions, educational
and beneficial associations shall be rated as
second class matter.
By Mr.. Buchanan of New Jersey-To in
crease the efficiency Of the life saving ser
vice.
By Mr.. Belmont of New York-To reform
the organization, regulate the salaries and
increase the efficiency of the consular ser.
vice to limit the exaction of fees for the YER
ifcation of invoices and to regulate the use
of official seals and the collection of fees
thereon in the legations and consulates of the
United States. 1t provides for the paymen,
of consuls exclusively by salaries and regu
lates the number and character of their en-
ployes.
Mr. Regan, from the committee on com.
merce, reported back the interstate com
merce bill and it was placed on the calendar
Mr.. O'Neil of Pennsylvania was granted
leave to file a minority report on the bill.
In the morning hour MIR. Crisp of Georgia,
on behalf of the committee on Pacific rail.
roads, called up the bill requiring tina Pacific
railroads to pay the cost of the survey OF
lands granted to them and to take
out patents for the land.
Pending further discussion the morning
hour expired.
Mr.. Morrow of California arose and said
1.-The melancholy duty devolves on me to an
nounce the death of Senator John +. Miller
of California who died in this city today
after a prolonged illness. Congress will IN
doubtedly set apart hereafter time for the
purpose of giving expression to the senti-
ments for the character and great public ser
vice of Senator Miner. offer the following
resolutions:
Resolved, That this House has received
with profound sorrow intelligence of the
death of Senator John F. Miller of Califor-
MIA.
Resolved, That out of respect to his men,
ory this House do now adjourn"
The resolutions were unanimously adopted
and accordingly the House at 4.05 adjourned.