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John W. Noell, Moses F. Odell, Abraham B./ ward H. Smith, John B. Steele, William G. Steele, Olin, Nekemiah Perry, John H. Rice, James S. John L. N. Stratton, Benjamin F. Thomas, FranRollins, John P. C. Shanks, Socrates N. Sher-cis Thomas, Charles R. Train, Carey A. Trimble, man, George K. Shiel, A. Scott Sloan, Elbridge Clement L. Vallandigham, Chauncey Vibbard, G. Spaulding, William G. Steele, Thaddeus Ste. Daniel W. Voorhees, Charles W. Walton, E. P. vens, Burt Van Horn, Robert B. Van Valken- Walton, Elijah Ward, Ellihu B. Washburne, burgh, John P. Verree, Daniel W. Voorhees, Edwin H. Webster, Kellian V. Whaley, Wil. William Wall, John W. Wallace, Elijah Ward, liam A. Wheeler, Charles A. Wickliffe, George Albert S. White, James F. Wilson, William Win-C. Woodruff, Hendrick B. Wright-88. dom, George C. Woodruff, Sannuel T. Worcester Nays-Messrs. Cyrus Aldrich, John B. Alley,

Elijah Babbitt, Joseph Baily, Stephen Baker, Nays-Messrs. John B. Alley, Isaac N. Ar-John A. Bingham, Francis P. Blair, jr., Samuel nold, James M. Ashley, Portus Baxter. Harrison S. Blair, Harrison G. Blake, James Buffinton, G. Blake, William G. Brown, Alfred A. Burn- James H. Campbell, Jacob P. Chamberlain, Amham, Charles B. Calvert, Andrew J. Clements, brose W. Clark, Wm. Morris Davis, Henry L. Frederick A. Conkling, Roscoe Conkling, Martin Dawes, R. Holland Duell, Thomas M. Edwards, F. Conway, Samuel S. Cox, James A. Cravens, John Alfred Ely, Reuben E. Fenton, Samuel C. FesJ. Crittenden, Henry L. Dawes, R. Holland Du senden, George P. Fisher, Richard Franchot, ell, George W. Dunlap, W. McKee Dunn, Thomas Augustus Frank, Bradley F. Granger, James T. D. Eliot, James E. English, John N. Goodwin, Hale, Luther Hanchett, Richard A. Harrison, Henry Grider, John A. Gurley, Edward Haight, John Hickman, Samuel Hooper, George W. JuWilliam A. Hall, Aaron Harding, John Hick lian, William Kellogg, John W. Killinger, Wilman, Valentine B. Horton, William D. Kelley, liam E. Lansing, Edward McPherson, Gilman Anthony L. Knapp, William E. Lansing, John Marston, Horace Maynard, James K. Moorhead, Law, Cornelius L. L. Leary, Dwight Loomis, Anson P. Morrill, John W. Noell, Abraham B. Owen Lovejoy, Robert McKnight, Robert Mal- Olin, John H. Rice, John P. C. Shanks, A. Scott lory, Henry May, John W. Menzies, James K. Sloan, Elbridge G. Spaulding, Thaddeus Stevens, Moorhead, Justin S. Morrill, John T. Nixon, Rowland E. Trowbridge, Burt Van Horn, RobWarren P. Noble, Elijah H. Norton, Robert H. ert B. Van Valkenburgh, John P. Verree, WilNugen, John Patton, Timothy G. Phelps, Fred-liam Wall, John W. Wallace, Albert S. White, erick A. Pike, Theodore M. Pomeroy, Alexander James F. Wilson, William Windom, Samuel T. H. Rice, Albert G. Riddle, James C. Robinson, Worcester—55. Aaron A. Sargent, Charles B. Sedgwick, William After other amendments were acted on, and P. Sheffield, Edward H. Smith, John B. Steele, the fifteenth amendment adopted, wbich authorJohn L. N. Stratton, Benjamin F. Thomas, Fran- ized the Secretary of the Treasury to sell the cis Thomas, Charles R. Train, Carey A. Trimble, bonds at the market value thereof”-yeas 72, Rowland E. Trowbridge, Clement L. Vallandig-nays 66, as follows: ham, Charles W. Walton, E. P. Walton, Ellihu YEAS— Messrs. Sydenham E. Ancona, GoldB. Washburne, Edwin H. Webster, William A. smith F. Bailey, Portus Baxter, Fernando C. Wheeler, Charles A. Wickliffe, Hendrick B. Beaman, Charles J. Biddle, George H. Browne, Wright-72.

William G. Brown, Charles B. Calvert, Ambrose The 6th Senate amendment, establishing coin W. Clark, George T. Cobb, Frederick A. Conkinterest, was then agreed to-yeas 88, nay: 55: ling, Roscoe Conkling, Martin F. Conway, John

YEAS—Messrs. Sydenham E. Ancona, Isaac Covode, James A. Cravens, John J. Crittenden, N. Arnold, James M. Ashley, Portus Baxter, William P. Cutler, George W. Dunlap, W. McFernando C. Beaman, Charles J. Biddle, Jacob Kee Dunn, Thomas D. Eliot, James E. English, B. Blair, George H. Browne, William G. Brown, John N. Goodwin, Henry Grider, William A. Alfred A. Burnham, Charles B. Calvert, Andrew Hall, Aaron Harding, William S. Holman, ValJ. Clements, George T. Cobb, Frederick A. Conk entine B Horton, Philip Johnson, William D. ling, Roscoe Conkling, Martin F. Conway, John Kelley, Anthony L. Knapp, John Law, Cornelius Covode, Samuel S. Cox, James A. Cravens, John L. L. Leary, Owen Lovejoy, Robert McKnight, J. Crittenden, Alexander S. Diven, George W. John W. Menzies, Justin S. Morrill, John T. Dunlap, W. McKee Dunn, Thomas D. Eliot, James Nixon, Warren P. Noble, Elijah H. Norton, E. English, John N. Goodwin, Henry Grider, Robert H. Nugen, Moses 'É. Odell, John Patton, John á. Gurley, Edward Haight, William A. George H. Pendleton, Nehemiah Perry, Frederick Hall, Aaron Harding, William S. Holman, A. Pike, Theodore M. Pomeroy, Albert G. Porter, Valentine B. Horton, Philip Johnson, William Alexander H. Rice, Albert G. Riddle, James C. D. Kelley, Anthony L. Knapp, John Law, Cor Robinson, Edward H. Rollins, James S. Rollins, nelius L. L. Leary, William E. Lehman, Dwight Aaron A. Sargent, Charles B. Sedgwick, William Loomis, Owen Lovejoy, Robert McKnight, P. Sheffield, George K. Shiel, Edward K. Smith, Robert Mallory, Henry May, John W. Menzies, William G. Steele, John L. N. Stratton, BenjaJustin S. Morrill, John T. Nixon, Warren P. min F. Thomas, Francis Thomas, Charles R. Noble, Elijah H. Norton, Robert H. Nugen, Train, Carey A. Trimble, John P. Verree, ChaunMoses F. Odell, John Patton, George H. Pendle-cey Vibbard, Daniel W. Voorhees, Charles W. ton, Nehemiah Perry, Timothy G. Phelps, Fred-Walton, E. P. Walton, Ellihu B. Washburne, erick A. Pike, Theodore M. Pomeroy, Alexander William A. Wheeler, George C. Woodruff, HenH. Rice, Albert G. Riddle, James C. Robinson, drick B. Wright-72.' Edward H. Rollins, James S. Rollins, Aaron A.] Nays-Messrs. Cyrus Aldrich, John B. Alley, Sargent, Charles B. Sedgwick, William P. Shef. James M. Ashley, Élijah Babbitt, Joseph Baily, field, Socrates N. Sherman, George K. Skiel, Ed. 1 Stephen Baker, John A. Bingham, Francis P.

Blair, jr., Jacob B. Blair, Samuel S. Blair, Har- | tee of conference on the disagreeing votes of the
rison G. Blake, James Buffinton, James H. Camp-two Houses on the bill of the House (H. R. 240)
bell, Jacob P. Chamberlain, Andrew J. Clem. i to authorize the issue of United States notes, &c.;
ents, Samuel S. Cox, William Morris Davis, submitted a report.
Henry L. Dawes, Alexander S. Diven, Sidney The principal point in the report of the com-
Edgerton, Thomas M. Edwards, Alfred Ely, mittee of conference was to recommend the House
Reuben E. Fenton, Samuel C. Fessenden, George to recede from its disagreement to the 10th Senate
P. Fisher, Richard Franchot, Augustus Frank, amendment, (relating to a sinking fund,) and
Bradley F. Granger, Edward Haight, James T. agree to it in this form:
Hale, Luther Hanchett, Richard A. Harrison, "That all duties on imported goods shall be
John Hickman, Samuel Hooper, John Hutchins, paid in coin, and shall be set apart as a special
George W. Julian, John W. Killinger, William fund, and shall be applied as follows:”.
E. Lansing, William E. Lehman, Dwight Loomis, Also, to make the legal tenders receivable for
Edward McPherson, Gilman Marston, Horace “internal duties," and make them not receiv-
Maynard, James K. Moorhead, Anson P. Mor- able for “imports," and to insert the words
rill, John W. Noell, Abraham B. Olin, John F. / “except duties on imports," in the two places in
Potter, John H. Rice, John P.C. Shanks, Socrates the clause in which they appear.
N. Sherman, A. Scott Sloan, Elbridge G. Spaul- The House agreed to the report-yeas 98,
ding, John B. Steele, Thaddeus Stevens, Rowland nays 22; and the Senate without a division.
E. Trowbridge, Clement C. Vallandigham, Burt! Next day the Senate reconsidered the vote,
Van Horn, Robert B. Van Valkenburgh, Wil and ordered the report recommitted, to which
liam Wail, John W. Wallace, Albert S. White, the House, by unanimous consent, assented.
Charles A. Wickliffe, James F. Wilson, William | February 25--The same report was made,
Windom, Samuel T. Worcester—66.

except the sinking fund clause was made to Mr. HOOPER moved that the Senate amend-read as it does in the act; and in that form the ments be laid on the table; which was disagreed report was adopted in each House without a to-yeas 21, nays 110. The yeas were:

division. Messrs. Stephen Baker, Samuel S. Blair, Alexander $. Diven, Thomas D. Eliot, George P.

Note B. Fisher, Bradley F. Granger, John Hickman,

ACT OF JUNE 30, 1864–38th CONGRESS, 1st SESSarouel Hooper, Anson P. Morrill, Justin s.

'I SION-LIMITING THE ISSUE OF “GREENBACKS." Morrill, Elijah H. Norton, Abraham B. Olin,

The following is the declaration referred to in George H. Pendleton, Charles B. Sedgwick, Wil. the PRESIDENT'S message: liam P. Sheffield, George K. Shiel, A. Scott Sloan, SEC. 2, * * Nor shall the total amount of Thaddeus Stevens, Benjamin F. Thomas, Charles United States notes, issued or to be issued, ever R. Train, Clement L. Vallandigham.

exceed four hundred millions of dollars, and such The 19th amendment, being to add the fol. / additional sum, not exceeding fisty millions of lowing section to the House bill:

dollars, as may be temporarily required for the SEC. 5. That all duties on imported goods, the redemption of temporary loan. * * * U.S. proceeds of the sale of the public lands, and the Statutes at Large, vol. 13, p. 219. proceeds of all property seized and sold under . (The bill contains an authority to borrow the laws of the United States as the property of $400,000,000, and issue bonds therefor redeemarebels, shall be set apart as a special fund, and ble in from five to forty years, interest 6 per shall be applied as follows:

cent. semi-annually in coin. It also authorized First. To the payment in coin of the interest the issue, on the credit of the United States, and on the bonds and notes of the United States. I

| in lieu of an equal amount of bonds above auSecond. To the purchase or payment of one thorized, not exceeding $200,000,000 in Treasury per centum of the entire debt of the United notes, payable in three years, and bearing inStates to be made within each fiscal year after terest at 7 per cent. in lawful money. And the first day of July, eighteen hundred and sixty- it also anthorized the issue of fifty millions of two, which is to be set apart as a sinking fund, I dollars of fractional currency. and the interest of which shall in like manner

In the progress of the bill through the House be applied to the purchase or payment of the and Senate there was no separate vote on the public debt, as the Secretary of the Treasury above clause. While the bill was in Committee shall, from time to time, direct.

of the Whole, in the House, a substitute for the Third. The residue thereof to be paid into the second section was adopted, b

second section was adopted, but it also contained Treasury of the United States.

this precise clause, and the substitute was subWas disagreed to, on a division-yeas 51, sequently rejeco

sequently rejected in the House-yeas 44, nays nays 52.

81. But as this vote manifestly turned upon

those features of the two propositions on which CONFERENCE COMMITTEE.

they differed from each other, and not upon that Messrs. FESSENDEN, SHERMAN, and CarLILE on which they agreed, it is not considered neceswere appointed conferees on the part of the sary to repeat said vote. There was no division, Senate, and Messrs. STEVENS, HORTON, and in either House, on final passage.] SEDGWICK, on the part of the House, to reconcile the points of difference.

Note C.



OPERATION IN CONTRACTION. February 24—Mr. STEVENS, from the commit-! The following is the House resolution referred

to in the message, and the vote by which it | Welker, John Wentworth, Kellian V. Whaley, passed:

| Thomas Williams, James F. Wilson, Stephen F. 1865, December 18.-Mr. ALLEY, (the rules Wilson, Edwin R. V. Wright-144. having been suspended for that purpose,) sub Nays-Messrs. Jehu Baker, Amasa Cobb, mitted the following resolution:

Ephraim R. Eckley, Benjamin G. Harris, Green Resolved, That this House cordially concurs in Clay Smith, M. Russell Thayer-6. the views of the Secretary of the Treasury in re- ! NOT VOTING-Messrs. John F. Benjamin, lation to the necessity of a contraction of the James G. Blaine, Henry P. H. Bromwell, Ralph currency, with a view to as early a resumption P. Buckland, John W. Chanler, Charles V. Culof specie payments as the business interests of ver, Thomas T. Davis, Ignatius Donnelly, Ebethe country will permit; and we hereby pledge nezer Dumont, Benjamin Eggleston, John F. co-operative action to this end as speedily as Farnsworth, Adam J.Glossbrenner, Charles Goodpracticable.

year, Josiah B. Grinnell, James M. Humphrey, The resolution was agreed to--yeas 144, nays Francis C. Le Blond, Benjamin F. Loan, John 6, not voting 30:

Lynch, Hiram McCullough, Daniel Morris, Wil- Yeas--Messrs. John B. Alley, William B. Alliam A. Newell, Theodore M. Pomeroy, Andrew lison, Oakes Ames, Sydenham Ē. Ancona, George J. Rogers, Robert C. Schenck, Thaddeus Stevens, W. Anderson, James M. Ashley, John D. Bald. Francis Thomas, John L. Thomas, jr., William win, Nathaniel P. Banks, Abraham A. Barker, Windom, Charles H. Winfield, Fred'k E. WoodPortus Baxter, Fernando C. Beaman, Teunis G. bridge-30. Bergen, John Bidwell, John A. Bingham, Henry

Note D. T. Blow, George S. Boutwell, Benjamin M. Boyer,

Boyer: Act of APRIL 12, 1866–39TH CONGRESS, 1st Augustus Brandegee, James Brooks, John M.

SESSION-PROVIDING FOR A REDUCTION OF THE Broomall, Hezekiah S. Bundy, Reader W. Clarke, Sidney Clarke, Roscoe Conkling, Burton C. Cook,

CURRENCY. Shelby M. Cullom, William A. Darling Henry L. The following is the text of the act, as it passed Dawes, John L. Dawson, Joseph H. Defrees, the House March 23, 1866, and the Senate April Columbus Delano, Henry C. Deming, Charles 9, 1866, and was approved April 12, 1866: Denison, Nathan F. Dixon, John F. Driggs, Be it enacted, &c., That the act entitled "An Charles A. Eldredge, Thomas D. Eliot, John H. act to provide ways and means to support the Farquhar, Thomas W. Ferry, William E. Finck, Government," approved March third, eighteen James A. Garfield, Henry Grider, John A. Gris hundred and sixty-five, shall be extended and wold, Robert S. Hale, Aaron Harding, Abner C. construed to authorize the Secretary of the TreasHarding, koswell Hart, Rutherford B. Hayes, Jas. ury, at his discretion, to receive any treasury notes H. D. Henderson, William Higby, Ralph Hill, or other obligations issued under any act of ConJohn Hogan, Sidney T. Holmes, Samuel Hooper, gress, whether bearing interest or not, in exGiles W. Hotchkiss, Asahel W. Hubbard, Chester change for any description of bonds authorized D. Hubbard, Demas Hubbard, jr., John H. Hub | by the act to which this is an amendment; and bard, Edwin N. Hubbell, James R. Hubbell, also to dispose of any description of bonds auCalvin T. Hulburd, James Humphrey, Ebon C. thorized by said act, either in the United States Ingersoll, Thomas A. Jenckes, Philip Johnson, or elsewhere, to such an amount, in such man. George W. Julian, John A. Kasson, William D. ner, and at such rates as he may think advisable, Kelley, John R. Kelso, Michael C. Kerr, John for lawful money of the United States, or for H. Ketcham, Andrew J. Kuykendall, Addison any treasury notes, certificates of indebtedness, H. Lallin, George R. Latham, George V. Law- or certificates of deposit, or other representatives rence, William Lawrence, John W. Longyear, of value, which have been or which may be Samuel S. Marshall, Gilman Marston, James M. issued under any act of Congress, the proceeds Marvin, Joseph W. McClurg, Walter D. Melndoe, thereof to be used only for retiring treasury Samuel McKee, Donald C. McRuer, Ulysses Mer- notes or other obligations issued under any act cur, George F. Miller, James K. Moorhead, Jus- of Congress; but nothing herein contained shall tin S. Morrill, Samuel W. Moulton, Leonard be construed to authorize any increase of the Myers, William E. Niblack, John A. Nicholson, public debt: 'Provided, That of United States Thomas E. Noell, Charles O'Neill, Godlove S. notes not more than ten millions of dollars Orth, Halbert E. Paine, James W. Patterson, may be retired and canceled within six months Sidney Perham, Charles E. Phelps, Frederick A. from the passage of this act, and thereafter not Pike, Tobias A. Plants, Hiram Price, William more than four millions of dollars in any one Radford, Samuel J. Randall, William H. Ran- month: And provided further, That the act to dall, Henry J. Raymond, Alexander H. Rice, which this is an amendment shall continue in John H. Rice, Burwell C. Ritter, Edward H. force in all its provisions, except as modified by Rollins, Lewis W. Ross, Lovell H. Rousseau, this act. Philetus Sawyer, Glenni W. Scofield, George S. Sec. 2. That the Secretary of the Treasury Shanklin, Samuel Shellabarger, Charles Sit- shall report to Congress at the commencement greaves, Ithamar C. Sloan, Rufus P. Spalding, of the next session the amount of exchanges John F. Starr, Thomas N. Stillwell, Myer Strouse, made or money borrowed under this act, and of Stephen Tabor, Nelson Taylor, Anthony Thorn whom, and on what terms; and also the amount ton, Lawrence S. Trimble, Row'd E. Trowbridge, and character of indebtedness retired under this Charles Upson, Henry Van Aernam, Burt Van act, and the act to which this is an amendment, Horn, Robert T. Van Horn, Daniel W. Voor with a detailed statement of the expense of bees, Hamilton Ward, Samuel L. Warner, Ellihu making such loans and exchanges. (U. S. StatB. Washburne, William B. Washburn, Martin ! utes at Large, vol. 14, p. 31.)

The House passed the bill-yeas 83, nay8 53, \ E. Niblack, James W. Patterson, Tobias A. not voting 47:

Plants, Theodore M. Pomeroy, William Radford, YEAS - Messrs. John B. Alley, Sydenham E. William H. Randall, Henry J. Raymond, AlexAncona, George W. Anderson, James M. Ashley, ander H. Rice, Lovell H. Rousseau, Robert C. John D. Baldwin, Nathaniel P. Banks, Abraham Schenck, George S. Shanklin, Charles Sitgreaves, A. Barker, Portus Baxter, Teunis G. Bergen, John Ithamar C. Sloan, John F. Starr, Stephen Taber, Bidwell, James G. Blaine, Benjamin M. Boyer, Lawrence S. Trimble, Samuel L. Warner, Kellian James Brooks, Roscoe Conkling, Shelby M. Cul. V. Whaley, Frederick E. Woodbridge--47. lom, William A. Darling, Henry L. Dawes, John The vote in the Senate was-yeas 32, nays 7:

L. Dawson, Ignatius Donnelly, Charles A. El- YEAS-Messrs. Anthony, Brown, Buckalew, dredge, Thomas D. Eliot, John F. Farnsworth, Clark, Conness, Cowan, Cragin, Davis, Doolittle,

John H. Farquhar, William E. Finck, James A. Edmunds, Fessenden, Foster, Grimes, Guthrie,
Garfield, Adam J. Glossbrenner, Henry Grider, Harris, Johnson, Kirkwood, Lane of Indiana,
Robert S. Hale, Aaron Harding, John Hogan, McDougall, Morgan, Morrill, Nesmith, Nye,
Sidney T. Holmes, John H. Hubbard, James M. Poland, Pomeroy, Riddle, Sumner, Trumbull,
Humphrey, Ebon C. Ingersoll, Morgan Jones, | Van Winkle, Willey, Williams, Wilson-32.
John A. Kasson, Michael C. Kerr, John H. Ketch-1 NAYS—Messrs. Chandler, Howard, Howe, Nor-
am, Andrew J. Kuykendall, Addison H. Laflin, ton, Ramsey, Sherman, Wade—7.
George R. Latham, George V. Lawrence, Francis (Under the above act the Secretary of the
C. Le Blond, Samuel S. Marshall, Gilman Mars- Treasury retired $44,000,000 legal tenders, re-
ton, James M. Marvin, Hiram McCullough, Don- ducing the amount in circulation to $356,000,000.
ald C. McRuer, Ulysses Mercur, James K. Moor- But from the period commencing with the panic
head, Justin S. Morrill, Daniel Morris, Samuel W. of September, 1873, and up to July 1, 1874, at
Moulton, Leonard Myers, John A. Nicholson, which time this page goes to press, the Secretary
Thomas E. Noell, Sidney Perham, Frederick A. issued (or reissued) $26,000,000 of legal tenders.]
Pike, Samuel J. Randati, John H Rice, Burwell
C. Ritter, Andrew J. Rogers, Edward H. Rollins,
Lewis W. Ross, Philetus Sawyer, Glenni W. Sco-

Note E. field, Green Clay Smith, Rufus P. Spalding,

18 ACT OF FEBRUARY 4, 1868—4018 CONGRESS, 2D Thomas N. Stillwell, Myer Strouse, Nelson Taylor,

SESSION-SUSPENDING FURTHER REDUCTION OF Anthony Thornton, Charles Upson, Burt Van Horn, Robert T. Van Horn, Hamilton Ward,

THE CURRENCY. Ellihú B. Washburne, Henry D. Washburn, Be it enacted, &c., That from and after the William B. Washburn, John Wentworth, Wil passage of this act the authority of the Secretary liam Windom, Charles H. Winfield, Edwin R. V. l of the Treasury to make any reduction of the Wright83.

currency, by retiring or canceling United States Nays—Messrs. William B. Allison, Jehu Baker, notes, shall be, and is hereby, suspended. * * * Fernando C. Beaman, John F. Benjamin, John (U. S. Statutes at Large, vol. 15, p. 34.) A. Bingham, Henry P. H. Bromwell, John M. Broomall, Ralph 'P. Buckland, Hezekiah S.

In HOUSE. Bundy, Reader W. Clarke, Burton C. Cook, 1867, December 7—The bill, as above, passedNathan F. Dixon, John F. Driggs, Ephraim R. yeas 127, nays 32, not voting 28. Eckley, Benjamin Eggleston, Thomas W. Ferry, ° YEAS-Messrs. George M. Adams, William B. John A. Griswoid, Abner C. Harding, Roswell Allison, George W. Anderson, Stevenson Archer, Hart, Rutherford B. Hayes, William Higby, Samuel M. Arnell, James M. Ashley, Samuel B. Ralph Hill, Samuel Hooper, Asahel W. Hubbard, Axtell, Jehu Baker, Nathaniel P. Banks, Demas Chester D. Hubbard, Demas Hubbard, Jr., Edwin Barnes, William H. Barnum, Fernando C. BeaN. Hubbell, James R. Hubbell, George W. Julian, man, James B. Beck, John F. Benjamin, Jacob William D. Kelley, John R. Kelso, William Law- | Benton, John A. Bingham, George S. Boutwell, rence, Benjamin F. Loan, John Lynch, Joseph Benjamin M. Boyer, Henry P. H. Bromwell, W. McClurg, Samuel McKee, George F. Miller, James Brooks, Ralph P. Buckland, Albert G. Charles O'Neill, Godlove S. Orth, Halbert E. Burr, Benjamin F. Butler, Samuel F. Cary, Paine, Charles E. Phelps, Hiram Price, Samuel Johnc. Churchill, Reader W. Clarke, Sidney Shellabarger, Thaddeus Stevens, M. Russell Clarke, Amasa Cobb, John Coburn, Burton C. Thayer, Francis Thomas, John L. Thomas, Jr., Cook, John Covode, Shelby M. Cullom, Nathan Rowland E. Trowbridge, Henry Van Aernam, F. Dixon, Greenville M. Dodge, Ignatius DonMartin Welker, Thomas Williams, James F. nelly, John F. Driggs, Ephraim R. Eckley, Wilson, Stephen F. Wilson-53.

Benjamin Eggleston, Jacob' H. Ela, Charles A. Nor Voting-Messrs. Oakes Ames, Delos R. Eldredge, John F. Farnsworth, Orange Ferriss, Ashley, Henry T. Blow, George S. Boutwell, Thomas W. Ferry, William C. Fields, J. S. Gola Augustus Brandegee, John W. Chanler, Sidney laday, Joseph J. Gravely, John A. Griswold, Clarke, Amasa Cobb, Alexander H. Coffroth, George A. Halsey, Cornelius S. Hamilton, Abner Charles V. Culver, Thomas T. Davis, Joseph H. C. Harding, Isaac R. Hawkins, John Hill, WilDefrees, Columbus Delano, Henry C. Deming, liam Higby, William S. Holman, Benjamin F. Charles Denison, Ebenezer Dumont, Charles Hopkins, Julius Hotchkiss, Asahel W. Hubbard, Goodyear, Josiah B. Grinnell, Benjamin G. Har- Calvin T. Hulburd, Morton C. Hunter, Ebon c. ris, James H. D. Henderson, Giles W. Hotchkiss, Ingersoll, Thomas L. Jones, Norman B. Judd, Calvin T. Hulburd, James Humphrey, Thomas George W. Julian, William D. Kelley, William A. Jenckes, Philip Johnson, John W. Longyear, H. Kelsey, Michael C. Kerr, John H. Ketcham, Walter D. McIndoe, William A. Newell, William J. Proctor Knott, William H. Koontz, Addison H. Laflin, William Lawrence, William S. Lin-1

Note F. coln, Benjamin F. Loan, John A. Logan, Wil

LETTER OF SENATOR Morton, May 5, 1874, IN liam Loughridge, John Lynch, James M. Mar.

EXPLANATION OF THE SENATE CURRENCY BILL. vin, Horace Maynard, Dennis McCarthy, Joseph W. McClurg, Ulysses Mercur, George F. Miller, To the Editor of the Indianapolis Journal: James K. Moorhead, George W. Morgan, James SIR: There appears to be a misapprehension Mullins, William Mungen, Leonard Myers, Car- in a portion of the press in regard to the provisman A. Newcomb, William E. Niblack, David ions of the finance bill which lately passed the A. Nunn, Charles O'Neill, Godlove S. Orth, two Houses of Congress, but from which the Halbert E. Paine, Sidney Perham, William A. President withheld his approval. The bill is Pile, Tobias A. Plants, Daniel Polsey, William criticised as if it authorized a new emission of H. Robertson, Lewis W. Ross, Philetus Sawyer, United States notes, which would increase the Robert C. Schenck, John P. C. Shanks, Worth- difficulty of a return to specie payments, and ington C. Smith, H. H. Starkweather, Aaron F. thereby involve a breach of the national faith Stevens, Thaddeus Stevens, Thomas E. Stewart, pledged for the redemption of those notas in William B. Stokes, Frederick Stone, Caleb N. coin. The first section of the bill, and the only Taylor, Francis Thomas, John Trimble, Row'd one which relates to the United States notes, is E. Trowbridge, Charles Upson, Henry Van in these words: Aernam, Robert T. Van Horn, Philadelph Van “That the maximum amount of United States Trump, Charles H. Van Wyck, Cadwal'r c. notes is hereby fixed at $400,000,000." Washburn, Henry D. Washburn, Martin Well To understand the effect of this provision refker, Thomas Williams, William Williams, James erence must be had to previous legislation. By F. Wilson, John T. Wilson, Stephen F. Wilson, the act of June 30, 1864, it was declared that the Frederick E. Woodbridge—127.

United States notes in circulation, or to be cirNays-Messrs. Oakes Ames, Delos R. Ashley, culated, should not exceed the sum of $400,000,James G. Blaine, John M. Broomall, Henry L. 000. By the act of April 12, 1866, it was proDawes, Thomas D. Eliot, James A. Garfield, J. vided that of United States notes not more than Lawrence Getz, Adam J. Glossbrenner, Asa P. | $10,000,000 may be retired and canceled within Grover, Charles Haight, Samuel Hooper, Richard six months of the passage of this act, and thereD. Hubbard, James M. Humphrey, James A. after not more than $4,000,000 in any one month. Johnson, George V. Lawrence, Hiram McCul- Ou the 4th of March, 1868, another act was lough, John A. Peters, Charles E. Phelps, Fred passed, forbidding any further reduction of Unierick A. Pike, Luke P. Poland, Hiram Price, ted States notes. At that time the amount outJohn V. L. Pruyn, Samuel J. Randall, Charles standing was $356,000,000, and that is the limit Sitgreaves, Rufus P. Spalding, Stephen Taber, below which the United States notes cannot be Daniel M. Van Auken, Hamilton Ward, Ellihu reduced without congressional enactment. B. Washburne, William B. Washburn, George W. Under the operation of these statutes succesWoodward32.

sive Secretaries of the Treasury have assumed the Not Voting-Messrs. Alexander H. Bailey, right to reissue at their discretion $44,000,000 John D. Baldwin, Austin Blair, Henry L. Cake, that is, the difference between $356,000,000 and John W. Chanler, Thomas Cornell, Darwin A. $400,000,000--and to withdraw the same again Finney, John Fox, Chester D. Hubbard, Thomas from circulation. Under this asserted power A. Jenckes, Bethuel M. Kitchen, Rufus Mallory, about a million and a half of dollars of these Samuel S. Marshall, William Moore, Daniel J. notes were issued in September, 1869, and afterMorrell, John Morrissey, John A. Nicholson, ward withdrawn, and a like sum issued in the Theodore M. Pomeroy, Green B. Raum, William fall of 1871, and afterward withdrawn. Since E. Robinson, Glenni W. Scofield, Lewis Selye, the 1st of October last there have been issued of Samuel Shellabarger, John Taffe, Ġinery Twich- these notes by the Secretary of the Treasury ell, Burt Van Horn, William Windom, Fernando $26,000,000, making the whole circulation of Wood-28.

United States notes $382,000,000.

The right of the Secretary to reissue any part

of this $24,000,000, or to increase the circulation IN SENATE.

of these notes above $356,000,000, has been con

tinually denied by many lawyers in Congress The Senate adopted a substitute for the House and out of it, and a large portion of the press. bill, to wit: “That so much of the act approved The question cannot be said to be free from April twelfth, eighteen hundred and sixty-six, doubt. At the last session of Congress a majorentitled 'An act to amend an act entitled “ An ity of the Finance Committee of the Senate, act to provide ways and means to support the through the chairman, Mr. Sherman, reported Government," approved March third, eighteen to the Senate for its adoption the following reshundred and sixty-five,' as provides that the olution: Secretary of the Treasury may retire and cancel Resolved, That, in the opinion of the Senate, United States notes to the extent of four millions the Secretary of the Treasury has not the power of dollars per month be, and the same is hereby, to reissue any portion of the forty-four million suspended until Congress shall otherwise pro- dollars retired and canceled under the several vide." But subsequently receded from it, on laws on that subject." report of a Committee of Conference, without a My first impression had been against the exdivision.

istence of the power, but on further examination The above act became a law by lapse of time I thought it fairly deducible from a comparison ANDREW JOHNSON, President.

of statutes, and personally urged upon the Pres

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