New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-01-10
PROCEEDINGS IN TIE TWO HOUSES.
BILLS AND RESOLUTIONS IN THE SENATE.

INVESTMENT or BANK FUNDS HELD IN THE TREAS
URY-MEAsUREs IN THE HOUSE.
WASHINGTON, Jan 9.-Among the memorials and
petitions presented joint resolutions from the
Legislature Nebraska asking for the passage of the
Grand Army Pension bill and for the repeal OF the law
relating to arrears of pensions.
Among Others the following bills were Introduced ana
referred:
By Mr.. EYARTS 10 prevent distractions aud iniur-
ions deposits within the harbpr and adjacent waters of
New.York City by dumping and otherwise.
BY Mr. MANDERsON--ro amend the Mexican Pen
sion law; also prevent the summary cancellation Of
pension certificates and providing for hearing IN such
By Mr. RANSOM pproprating 100000 for the
erection OF a ligi thouse Diamond shoals He made
brief appeal for the prompt consideration and passage OF
the BILL stating that the location was ten OF hltee
miles from the point OF Cape Hatteras where the exist
ing lighthouse stands.
nv Mr. JONES of Nevada--A concurrent resolution
requesting the President TO negotiate treaty with
China containing provision that no Chinese shall enter
the United state, except ambassadors and others ell
gagged in the diplomatic service and merchants engaged
in trade between the United States and foreign conn
tries. Laid on the table
Mr.. HOAR offered resolution, which was adopted
calling Postmaster General for Information as 70
what length of time books or other parcels received Dy
mail from foreign countries are detained az we Jew
The Senate then took mp The resolution offered oy M
January 4, declaring FOR Abolition OF internal
Revenue taxes.
At the close OF Mr. Browns remarks in support OF his
resolution moved that the resolution be referred 70
the Committee on Finance. -
Mr. Beck objected that reference on the ground tina:
the House OF Representatives alone coud initiate bill
for the reduction OF He wished 10 have the re,O
luton lie on the table The Senate mad jlst listened 10
defence OF the Georgia moonshners and tn an attack
on the Government and It's officers He wished chance
The resolution was laid the table and the Blair
Education bill then taken UP as the unfinished bush
| Mr.. Vest opposed the bill.
bill which was introduced by Senator sherman Ia
provide Investment OF certain funds In the Treas
ry directs the Secretary of the Treasury from time 70
time invest exceeding 50 per cent OF the fund held
in the Treasury for redemption OF notes OF National
banks. failed" in LIQUIDATION. aud reducing clrcu
aton by the purchase in open market OF any bonds oil
the United States bearing interest Ii further provides
that whenever the nOney hand 10 the credit OF said
fund shall fall below 30 pr cent OF the funds deposited,
the Secretary of the Treasury s directed from time "
time sell in open market any portion or the bonds
purchased for said fund that may DO necessary In his
opinion enable him 10 presented any notes 81
National banks for the redemption OF which the bond Is
held tina purpose being D nanai IN the Treasury Tor
such redemption nat less than 10 6r Osht ana not eA
ceeding 80 per cent ef The money deposited
ANY National bank aHherisod 10 Issue 30 Per cent oil
the bonds deposited by 1t as security fer circulating
stes authorized after the passage OF the act to issue
circulating To the amount OF 100 per cent OF the
par value OF the bonds fepesitsd.
40 the Senate adjourned.