New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-29

Tho bill allowing National banks to increase their
circulation up to the par value OF the bonds ne
posited by them was taken up. the question pe'hs
1 on the amendment offered by Mr.. Cockreli tDem'
| Mo, for the redemption Of such per cent bonds
| ,s may be presented. and the payment THEREFOR
| in a new issue OF Treasury notes. The vote was
| taken without the discussion being renewed ana
| the amendment rejected; yeas, %; nays ~
| The following Is the vote In detail:
Yeas-Mcssrs. Allen Bate, Berry, Call. Cockrci ,oke
Hun.on Irby. Jones (Ark), Kyle. Mills PETER Ie'tl'
grew power Roach shonp. Squire. Teller. Vance Vest
| walthalI, White (Cal). and Wocott-2S
Nay--Messrs Aldrch. Allison, Cafery. Carey CuIom'
| Davis Dixon Faulkner Frye. GalIinger Gray. Hans
| trough Uawley Hin, Lindsay. Mcmillan McPhersoh
Mitchell wis. Palmer. Pasco. Perkins Plat rroc'o
| sherman stockbrdgc. Villas, Voorhees, W'shDufh anu
White (I.a)-2o. .,
| Mr. Cockrell then offered amendment author
;,r;, tho holder of any United states bond to de-
nost and to receive in exchange legal-tender notes
| equal to the face value Of the bond. Inc poii' 10
10 be held I'm the Treasury subject 10 redelp''" III
the same amount Of legal-tender notes. WHICH arc
| then to be destroyed No interest Is 10 De paul VI"
the bonds while they are held In the ireasui
| but when they are again withdrawn the interest
| IS to be paid less IL per cent per annum.
| Afr Henderson (Rep Neb) inquired OF MT COCK
| rell how mt his amendment Wouu ihe'ed'o III
| culation. LA.
| Mr. Cockre-Whatever amount the people WISH.
| Afr uanderson- What would be the maximum!
| Nr cockrel-The maximum would be the amount
! Of the United states bonds, less the amount "e
| posted by the National banks
| Mr. Palmer Dem. Ill)-What would be the ei
| feet Of the amendment as to gold being dennahne'
| by the holders Of these legal-tender notes!
| Mr. Cockrcll-The effect would be precisely "na'
| It now is Any holder of United States legai-ehnei
notes has right to demand and receive coin at ''e
| Treasury. But the people OF the Cntea o'aoeo
| know that greenbacks are money-aoso'u'e''
| money. a,
| Nr Vim dem n Y)-Is this proposition the
cana as what is known az the Johnson bill in the
House?
| Mr. Cockrel-Not at all.
AIR Um-In what respect does 1t differ from the
| Johnson bill? 90,
Nr Cockrell-I have not seen the Johnson bill
| but / have seen his letter on the subject n'e'
fine Johnson bill the owner OF the bond would iose
all the interest on 1t while held In the treasury
| while nv amendment would only deprive MN VI
~, per cent per annum OF the interest," VIM
would place him the same terms as 'Ne va
,onaI banks now have. am under the IMPRESSION
| ,ha, some other people have rights as we'll "a
| National banks | am willing to give them all the
| rights they ought to have
ur JIIll-Does the Senator think that the Cen
o-a, covernment ought to issue a large amount OF
| rreenbacks with the possibility OF their being eN-
changed for gold without providing an additional
gold reserve
Mr. Cockren-I hold that any honest. just Gov
| eminent that is I'm debt and that can MAINTAIN
lts credit and honor by the issue OF non-interest
bearing obligations will keep as much OF It's debt
! IN TINT form az can be maintained In circulation
at par
Mr. TnIl-Does the Senator think II wise on the
mart OF the Government TO maintain any goid
reserve AT all FOR the redemption Of greenbacks'
Mr. Cockrell-Oh yes-coin reserve
Mr. Uul-I understand that we have about Sio-
ouo, Of greenbacks in circulation and Npv""
| ~, ,,la reserve Does the Senator think that the
creenbacl issue ought TO be largely extended with
ont some Increase Of the gold reserve?
Mr. Cockrell--If that Is the only objection OF the
senator
Mr. Ulll-That is zone objection.
| Mr. Cockrell-If that is not the only one we VIII
talk about H. This bill proposes to allow National
hanks 10 issue slg 10000 additional in bank notes
| Every one Of these notes can be exchanged into
rrecnhacks and the grcenbacks into gold
Mr. Hll-Where do the holders Of National bank
notes demand gold?
Mr. Cockrcl-At the banks. They have right
To demand greenbacks. and they have right 10
demand gold on these greenbacks.
Mr. TInl-But under this bill there is TO be no
new issue Of greenbacks.
Mr. Cockre-Oh, you do not want any more
money for the people. then. You want to restrict
the currency.
THE MANTLE CASE DECIDED.
The discussion interrupted at O'Clock. when
the bill laid aside and the Lee Mantle case
/ before
on Mr. Vances motion to lay the table Mr.
| Mandcrsons motion to reconsider the vote whereby
| the Senate deciled last week that Mr.. Mantle
was not entitled to the seat Shortly before the
matter taken up. Mr.. Morgan entered the
chamber. and welcomed back by many Sena-
| tors.
The motion to lay on the table was agreed to
yeas. 81 nays. IS. Before the announcement of the
result Mr.. i'm demanded that, as there had been
so much confusion ABOUT pairs. a statement should
be made OF them. The pairs stated 10 be as
| follows: A1rch and Higgins. Allen and Colqutt,
| German and Turpie. Gibson and Daniel Allison
and Gordon. Wilson and Hale. Lodge and Brice,
| Chandler and Morrill,. Mitchell (Ore) and Quay
Dolph and Cary, Harris and Hoar. The following
| Is the vote In detail:
Yeas-Gerry. Carcry. CaIl Camden. Coke Cuon.
Dixon. Faulkner, Gallnger George Gray. Lindsay Ne.
| Millan. MCPHERSON Mills. Mitchell (wls). Murphy,
Palmer, Pasco, Plat Proctor. Ransom, Smith, stock.
| bridge Vance. Vest. Villas voorhrc.. washburn White
| UCalJ. white (Ia)-3i.
Nays-Eate Butler. Cameron. Davis Dubois Frye
liansbroueh. IIawcy. Hill, IIunton, rrby Jones (Arkl
Jones fNevl Martin. Morgan PETER. Perkins. Pctti1rcw
Power Puch. Rosch sherman. Shoup Squire, STOW art
| Teller. Wothali. wolcott-.S
| The vote was then taken the original reso-
luton AS amended. and 1t agreed to-yeas g.
| nays 49, The effect OF the vote is declaration
that Mr. Mantle is not entitled to the seat. The
vote was then taken the right OF John g.
Allen to a seat from the State OF Washington
claimed under similar circumstances. and It was
also decided in the negative by exactly the same
vote-32 to -.
No action was taken the third case from
the state Of Wyoming. Mr.. Beckwth having re-
signed.
| The consideration OF the National Bank Clrcula-
ton bill was then resumed. the question being on
Mr. Cockres amendment permitting the depost
OF United States bonds and the withdrawal OF their
face value in greenbacks
Mr.. voorhees, Dem, Ind) chairman OF the Com
mittee on Finance advised the friends of the hill
to vote down all amendments and said that To-
morrow the Senate would be engaged in other
business. and then this bill. as n minor feature of
the extraordinary session. would have to take a
subordinate place and give way TO the great and
major proposition that had brought Congress to-