The midland journal. (Rising Sun, Md.) 1885-1947, 1893-12-08

~uonSOu tuo ieSdL GeuueI SecLiou,
intended originally to accompany the
bank bill, into separate bill, with
alterations and additions, and on bis
own motion introduced it into the
House by unanimous consent on the
Both of December, 1861. 1t was read
twice, and referred to the Committee
on Ways and Means, and ordered
printed ( House Bill No. 1922 and is as
follows:
Mr.. Spaulding, on leave, introduced
the following bill:
A BILL.
Be at enacted by the Senate and House
of Representatives of the United
States of America an Congress
assembled:
That, Tor temporary purposes, the
Secretary of the Treasury be, and be is
hereby authorized to issue fifty millions
of dollars of Treasury notes, on the
faith of the United States, payable on
demand, without specifying any place
OF payment, and of such denominations
as be may deem expedient, not less than
five dollars each, which shall be receiv.
able for all debts and demands due to
the United Ststes, and for al salaries,
dues, debts and demands owing b. the
United States to individuals, corpora
tions, and associations within the
United States, and such Treasury notes
shall also be legal tender In payment
of all debts. public and private, within
the United States, and shall be ex-
changeable at any time at their par
value, the same as coin, at the Treasury
Of the United States, and the offices Of
the assistant treasurers in New York,
Boston, Philadelphia, St. Louis, and
Cincinnati, for any of the coupon or
registered bonds which the Secretary Of
the Treasury is now or may hereafter
be authorized to issue, and such Treas
ury notes may be re-issued from time
to time as the exigencies Of the public
service may require. Such Treasury
notes shall be signed by the Treasure r
Of the United States. or by some officer
of the Treasury Department designated
by the Secretary of the Treasury, and
shall be countersigned by the Register
of the Treasury, or some officer of the
Treasury department designated by the
Secretary of the Treasury for the Reg
lister; and all the provisions of the. act
entitled "An act to authorize the issue
of Treasury notes. approved the
twenty third day Of December. one
thousand eight hundred and fifty seven,
so far as the same can be applied to the
provisions OF this act and not incon-
sistent Herewith, are hereby revived
and re enacted.
As soon as the bill was printed, it
was taken up in the Committee of Ways
and Means, and duly considered. Mr..
Hooper took active ground in favor OF
the bill Mr.. Stevens at first had some
doubts about its const.tutionality, bu,
very soon decided to support the meas
ure Mr. Morrill, Mr.. Horton, and
Mr.. Corning actively opposed the bill
in the Committee and in the House.
Mr.. Maynard and Mr.. Sratton took no
active part in the discussions while tht
hill was under consideration in the
committee. 1t is believed however,
that Mr.. Maynard was favorable to the
bill from the start, while Mr.. Stratton
was very much in doubt what course he
would take 10 relation to it, either IN
Committee. or in giving his vote in the
House. Mr.. Phelps was absent an
took no part while the bill was under
discussion in the Committee
Mr.. Spaulding finding that the Com
mittee was about equally divided, and
that some members of the COMMITTEE
had doubts as to the constitutions
power of Congress to make treasury
notes legal tender, called upon the
Attorney General, Hon. Ed ward Bates
for his opinion. He declined to give
an cfficial opin Cd, but consented TO
write an unofficial rote in favor OF ITS
constitutionality. The following is
copy of the opinion thus obtained