The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1895-09-29

tended for "Buncombe," and his refer
ence to the losses sustained by the loca
banks he said had nothing to 90 with TIL
question.
Mr.. Ingersoll, of Connecticut, sus
tanned the views of Mr. Wickliffe, anC
after some further remarks by the latte
gentleman. Mr.. Whittlesey, of Ohio, de
manded the previous question, which
was ordered: and on the main question
''Shall this bill be rejected?" it Was de
cided by yeas 102, nays 81,
So the bill was rejected.
Messrs. Barringer, John Branch, ReIch
err, VIM. B. Shepherd and Lewis Williams
voted with the majority. Messrs. Be
thune, Conner, Hall, Hawkins, Mckay
and Speight voted with the mi1ority
Carson did not vote.
The first session of the 23rd Congress
met December End, 1888. On the 10th
Mr.. McDuffie obtained the floor tc
move that the report of the Secretary OF
the Treasury to Congress, on the subject
of the removal of the de. osits, which
was on the clerks table, be referred to a
committe of the whole House on the
State of the Union.
Mr.. Polk wished to have the report
referred to the committee of Ways and
Means, of which he was chairman; and
after debate running through several
DAYS, and numerous votes, he succeeded
in this purpose. The administration in
this 23rd Congress, had a majority in
the House. A committee was appointed
to investigate the affairs Of the bank.
Mr.. Frank Thomas, of Maryland, was
chairman. He, with majority of the
committee, made report, May 22nd,
1884. The President and directors of
the bank refused to submit their books
to the inspection of the committee;
whereupon, the committee adopted
a resolution calling upon the
Speaker of the House TO issue war
rant to the Sergeant Arms to arrest
Nicholas Biddle, President, and Manuel
Eyre, Lawrence Lewis, Ambrose White,
Daniel W. Coke, John Holmes, Charles
Chauncey, John Goddard, John Netf,
William Plat, Matthew Newkirk, James
@. Fisher, John S. Henry and John Ser
geant, Directors of the Bank, and bring
them to the bar of the House, to answer
for their contempt of its lawful author
ity.
Edward Everett, of Massachusetts,,
and William W. Ellsworth, of Connect
cut, made minority report.
The resolution proposed by the major
ity of the committee for the arrest OF the
President and Directors of the bank was
not adopted by the House. In place OF
il, a resolution was prof. os ed by Mr..
Adams, that the proceeding proposed
would be violation of the Constitution,
but it was never called up.
The report made during the
22nd Congress by the majority and
minority of committee of investigation
show the condition of the bank, as to its
solvency. The report of the majority,
with Mr.. Polk at its head, states the case
as follows:
The liabilities of the bank in 1888 were
$37, s07, 222, consisting Of circulation,
amounting to ST., 459,571. Deposits,
public and private, $13,547,517; due to
holders of funded debt, Sc, 1913, 703, and
$78, $40 of unclaimed dividends.
These liabilities are off set by specie in
the vaults of the bank amounting to
So, SAT; notes and obligations of
State banks, held by the National bank,
amounting to 50, 1897, 9O7; funds in
Europe and foreign bills of exchange,
80, 100, 225; real estate worth So, 036, 241;
on notes discounted and domestic bills,
amounting to $e1, $685. t3; mortgages,
&c, $103, $50.
Total resources, $50, ,465
Deduct liabilities, 37,807. 1922