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Yeas-Messrs. Anthony, Brownlow, Buckingham, YEAS–Messrs. Boreman, Buckingham, Casserly, Cole, Cameron, Conkling, Corbett, Ferry, Hamlin, Howard, Corbett, Ferry, Fowler, Ilarlan, Harris, Howell, JohnsHowe, McDonald, Morrill of Vermont, Pomeroy, Ram- ton, McCreery, McDonald, Pratt, Ross, Sawyer, Schurz, sey, Scott, Wilson-16.

Scott, Sprague, Sumner, Thayer, Tipton, Wilson-23. Nars-Messrs. Bayard, Boreman, Casserly, Chandler, Nays-Messrs. Chandler, Conkling, Drake, Edmunds Cole, Drake, Fowler, Gilbert, Harlan, Harris, lowell, Fenton, Gilbert, Hamlin, Howard, Kellogg, Morrill of Johnston, Kellogg, McCreery, Osborn, Pool, Pratt, Revels, Vermont, Osborn, Pomeroy, Ramsey, Revels, Rice, Rice, Ross, S-hurz, Sherman, Stewart, Stockton, Sum- Sherman, Stewart, Warner, Willey, Williams-20. ner, Thayer, Thurnian, Tipton, Trumbull, Warner, Wil

Mr. Stewart moved to amend the 9th section ley, Williams-32. Mr. Howe moved to amend the 10th section by the word ninety;" which was disagreed to

by striking out the word "eighty" and inserting inserting in line 6, after the word “States,"

oneout the words "section 3” and inserting “each ton, Pomeroy, Ramsey, Ross, Scott, Sprague, Stewart, third of wrich shall be," and in line 7'striking yeas 12, nays 30, as follow:

YEAs---Messrs. Boreman, Cole, Fenton, Fowler, Morof the first three sections," which was disagreed Warner-12. to-yeas 16, nays 25, as follow:

Nays — Messrs. Buckingham, Casserly, Chandler,

Conkling, Corbett, Drake, Edmunds, Ferry, Hamlin, Yeas-Messrs. Buckingham, Cameron, Corbett, Gil. Harlan, Harris. lIoward, Howell, Johnston, Kellogg, bert, Hamlin, Harlan, Howe, Howell, Morrill of Ver- McCreery, McDonald, Morrill of Vermont, Osborn, Pratt, mont, Pomeroy, Ramsey, Revels, Schurz, Scott, Revels, Rice, Sawyer, Schurz, Sherman, Sumner, ThaySprague. Trumbull-16.

NAYS-Iessrs. Bayard, Casserly, Chandler, Cole, er, Tipton, Willey, Williams-30. Drake, Ferry, Fowler, Harris, Howard, Johnston, Mc

Mr. Morton moved to strike out the 10th secStewart, Strickton, Sumner, Thurman, Warner, Willey, as follow: Creery, Morton, Osborn, Pratt, Rice, Ross, Sherman, tion; which was disagreed to-yeas 12, nays 29, Williams, Wilson-25. Mr. Boreman moved to amend by striking out ton, McCreery, Morton, Ramsey, Revels, Rice, Ross,

Yeas–Messrs. Boreman, Cole, Fowler, Howell, Johng. in line 2, section 4, the words: "And the an- Sprague-12. nual interest thereon."

Nays—Messrs. Buckingham, Chandler, Conkling, Which was disagreed to-yeas 14, nays 29, as

Corbett, Drake, Edmunds, Fenton, Ferry, Hamiin,

Harlan. Harris, Kellogg, MeDonald, Morrill of Verfollow:

mont, Osborn, Pomeroy, Sawyer, Schurz, Scott, SherYEAS—Messrs. Bayard, Boreman, Casserly, Cole, Har man, Spencer, Stewart, Sumner, Thayer, 'Tipton, Warlan, Jolinston, McCreery, Pomeroy, Pratt, Sprague, Stock- ner, Willey, Williams, Wilson-29. ton, Thurman, Willey, Wilson-14.

The bill then passed-yeas 32, nays 10, as folNAYS-Messrs. Buckingham, Cameron, Chandler, low: Corbett, Drake, Fenton, Ferry, Fowler, Gilbert, Harris, Howard, Howell, Kellogg, McDonald, Morrill of Ver- YEAS-Messrs. Chandler, Cole, Conkling, Edmunds, mont, Osborn, Ramsey, Revels, Ross, Sawyer, Schurz, Fenton, Ferry, Fowler, Gilbert, 'Harlan, Harris, How Scott, Sherman, Stewart, Sumner, Tipton, Trumbull, ard, Howell, Kellogg, Morrill of Verinont, Morton, Warner, Williams-29.

Osborn, Pomeroy, Pratt, Ramsey, Revels, Rice, Sawyer,

Schurz, Scott, Sherman, Stewart, Sumner, Thayer, Mr. Bayard moved to strike out the 4th sec- Tipton, Warner, Williams, Wilson-32. tion, which was disagreed to--yeas 7, nays 38, NAYS--Messrs. Bayard, Boreman, Buckingham, Cas. as follow:

serly, Corbett, McCreery, McDonald, Sprague, Stockton,

Thurman-10. Yeas-Messrs. Bayard, Boreman, Casserly, Johnston,

McCreery, Stockton, Thurman--7.

Nays-Messrs. Buckingham, Cameron, Chandler, 1870, June 6~Mr. Schenck, from the Com-
Cole, Corbett, Drake, Fenton, Ferry, Fowler, Gilbert mittee of Ways and Means, reported the follow-
Hamlin, Harlan, Harris, Howard, Howell, Kellogg,
McDonald, Morrill of Vermont, Morton, Osborn, Pomeling as a substitute for the Senate bill:
roy, Pratt, Ramsey, Revels, Rice, Ross, Sawyer, Schurz,
Scott, Sherman, Stewart, Sumner, Tipton, Trumbull, authorized to issue, in a sum or sums not exceed-

That the Secretary of the Treasury is hereby Warner, Willey, Williams, Wilson-38.

Mr. Cameron moved to amend by inserting at ing in the aggregate $1,000,000,000, coupon or the end of the bill the following:

registered bonds of the United States, in such SEC. That it shall be the duty of the Secre- of $50 or some multiple of that sum, redeemable

form as he may prescribe, and of denominations tary of the Treasury, on the 1st day of July, in coin of the present standard value at the pleas1870, to redeem and fund in bonds hereby authorized all the fractional currency of the United ure of the United States after thirty years from States that may be offered for redemption at the the date of their issue, and bearing interest payTreasury or any of its branches, which he shall able semi-annually in such coin åt the rate of at once cause to be canceled; and it shall not be and the interest thereon shall be exempt from

four per centum per annum, which said bonds lawful for him

after that date to issue any such the payment of all taxes or duties of the United paper fractional currency, but he shall make all States as well as from taxation in any form by paymentz of fractions of the dollar in the legal

or under State, municipal, or local authority; coin of the United States.

and the said bonds shall have set forth and exWhich was disagreed to--yeas 18, nays 26, as follow :

pressed upon their face the above specified con

ditions, and shall, with their coupons, be made Yeas Messrs. Bayard, Buckingham, Cameron, Cas- payable at the Treasury of the United States. serly, Corbett, Hamlin, Harlan, Howard, Johnston, Kellogg, Morrill of Vermont, Pomeroy, Scott, Stockton, But nothing in this act, or in any other law now Sumner, Thurman, Trumbull, Wilson—18.

in force, shall be construed to authorize any inNAYS–Messrs. Boreman, Chandler, Cole, Drake, Fencrease whatever of the bonded debt of the United ton, Ferry, Fowler, Gilbert, Harris, Howell, McCreery,

McDonald, Morton, Osborn, Pratt, Ramsey, Revels,
Ross, Sawyer, Schurz, Sherman, Stewart, Tipton, War-

Sec. 2. That the Secretary of the Treasury is ner, Willey, Williams-26.

hereby authorized to sell and dispose of any of Mr. Wilson moved to amend by inserting in the bonds issued under this act at not less than line 8, section 6, after the word “exceeding," the their par value for coin, and to apply the prowords “one-half of;" which was agreed to-yeas ceeds thereof to the redemption of any of the 23, nays 20, as follow:

bonds of the United States outstanding and

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bonds, par


known as five-twenty bonds at their par value, \ 4th section of this act; and any certificates of or he may exchange the same for such five-twenty deposit issued as aforesaid may be received at

for par; but the bonds hereby author- par, with the interest accrued thereon, in payized shall be used for no other purpose whatso- ment for any bonds authorized to be issued by

this act. Sec. 3. That the payment of any of the bonds SEC. 6. That the United States bonds purchased hereby authorized after the expiration of the said and now held in the Treasury, in accordance with term of thirty years shall be made in amounts the provisions, relating to a sinking fund, of secto be determined from time to time by the Secre- tion 5 of the act entitled "An act to authorize tary of the Treasury at his discretion, and by the issue of United States notes and for the reclasses to be distinguished and described by the demption or funding thereof and for funding the dates and numbers, beginning for each successive floating debt of the United States," approved payment with the bonds last dated and numbered, February 25, 1862, and all other United States of the time of which intended payment or redemp- bonds which have been purchased by the Secretion the Secretary of the Treasury shall give tary of the Treasury with surplus funds in the public notice, and the interest on the particular Treasury and now held in the Treasury of the bonds so selected at any time to be paid shall United States, shall be canceled and destroyed, cease at the expiration of three months from the a detailed record of such bonds so canceled and date of such notice.

destroyed to be first made in the books of the Sec. 4. That the Secretary of the Treasury is Treasury Department. Any bonds hereafter aphereby authorized and instructed, with any coin plied to said sinking fund, and all other United in the Treasury of the United States which in States bonds redeemed or paid hereafter by the his opinion and discretion can be conveniently United States, shall also in like manner be canapplied to that purpose, to pay at par and can- celed and destroyed; and the amount of the cel any six per cent. bonds of the United States bonds of each class that have been canceled and of the kind known as five-twenty bonds which destroyed shall be deducted respectively from the have become or shall hereafter become redeem- amount of each class of the outstanding debt of able by the terms of their issue. But the parti- the United States. In addition to other amounts cular bonds so to be paid and canceled shall in all that may be applied to the redemption or paycases be indicated and specified by class, date, and ment of the public debt, an amount equal to the pumber, in the order of their nuinbers and issue, interest on all bonds belonging to the aforesaid beginning with the first numbered and issued, in sinking fund shall be applied, as the Secretary public notice to be given by the Secretary of the of the Treasury shall from time to time direct, to Treasury, and in three months after the date of the payment of the public debt, as provided for such public notice the interest on the bonds so in section 5 of the act aforesaid. selected and advertised to be paid shall cease. June 30-Mr. Blair moved to insert in the 1st But it shall be competent for the holders and section, before the last sentence, as follows: owners of any said bonds so specified for pay- And the amount of interest specified in each ment to exchange the same for bonds issued under coupon shall be expressed in dollars, and the the authority of this act at any time before the equivalent thereof in English sterling currency end of the notice provided for in the 2d section and in francs. of this act.

Which was disagreed to. Sec. 5. That the Secretary of the Treasury is Mr. Mayham moved to strike out of the 1st hereby authorized to receive gold coin of the section the words “of the United States, as well United States or bullion on deposit for not less as from taxation;" so that portion of the section than thirty days, in sums of not less than $100, would read as follows: with the Treasurer or any'assistant treasurer of Which said bonds and the interest thereon the United States authorized by the Secretary of shall be exempt from the payment of all taxes or the Treasury to receive the same, who shall issue duties, in any form, by or under State, municipal, therefor certificates of deposit made in such form or local authority, &c. as the Secretary of the Treasury shall prescribe, Which was disagreed to-yeas 25, nays 97, on and said certificates of deposit shall bear interest a division. at a rate not exceeding three per centum per an- Mr. Ingersoll moved to amend the 1st section num; and any amount of gold coin or bullion so by striking out the words in coin of the present deposited may be withdrawn from deposit at any standard of value,” and the words "such coin," time after thirty days from the date of deposit, and inserting in lieu the words “lawful money and after ten days' notice and on the return of of the United States;” which was disagreed to. said certificates: Provided, That the interest on Mr. Marshall moved to amend the clause fixall such deposits shail cease and determine at the ing the time these bonds shall run, by making it pleasure of thie Secretary of the Treasury. And twenty" instead of “thirty” years; which was not less than twenty-five per centum of the coin disagreed to-yeas 22, nays 85, on a division. and bullion deposited for or represented by said Mr. Coburn moved to make the time fifty certificates of deposits shall be retained in the years; which was disagreed to. Treasury for the payment of said certificates; and Mr. Holman moved to add to the 1st section the excess beyond twenty-five per centum may be the following: applied, at the discretion of the Secretary of the Provided, That no agent or agents shall be emTreasury, to the payment or redemption of such ployed in the United States or elsewhere for the outstanding bonis of the United States, hereto- sale or exchange of such bonds. fore issued and known as the five-twenty bonds, Which was disagreed to-yeas 36, nays 87, on as he niay designate under the provisions of the la division.

Mr. Wood moved to amend the 2d section by | ker, Wheeler, Whitmore, Wilkinson, Willard, Williams,

Winans--127. adding to it as follows:

Mr. Judd moved to strike out from the 4th But nothing in this act shall authorize the section the following words: “which in his opin, Secretary of the Treasury to allow or pay any ion and discretion can be conveniently applied commission or percentage for the sale of the to that purpose," and insert the following words: bonds so issued, or any part thereof.

Mr. Ingersoll moved to amend this amendment which may be derived from the sale of any of by inserting before the words “sale of the bonds” the bonds the issue of which is provided for in

this act. the words “transfer, exchange, or” which Mr.

Mr. Schenck moved to amend this amendment Wood accepted. Mr. Wood's amendment was then disagreed to-yeas 57, nays 102, as follow:

by adding the words “or which he may lawYeas-Messrs. Ambler, Barnum, Beck, Biggs, Bird, to. Mr. Judd's amendment was then agreed to.

fully apply to such purpose,” which was agreed James Brool's, Burchard, Calkin, Cleveland, Amasa Cobb, Cox, Crebs, Degener, Eidridge, Farnsworth, Ferriss, Getz,

Mr. B. F. Butler inoved to amend the 4th secGriswold,' Humill, Hawkins, Hay, Holman, Ingersoll

, tion by adding to it the following: Thomas L. Jon's, Kelley, Kerr, Knott, Lewis, Logan, Mayham, McCormick, McGrew, Niblack, Packer, Randall,

But none of said interest-bearing obligations Reeves, Rice, Rngers, Shanks, Sherrod, Shober, Slocum, not already due shall be redeemed or paid before Joseph S. Smith, William J Smith, Stiles, Sweeney, Taffe, maturity, unless at such time United States notes Trimble, Van Trump, Van Wyck, Voorhees, Ward, Wells, shall be convertible into coin at the option of Williams, Winchester, Wood, Woodward-57.

Nays-Messrs. Allison, Ames, Armstrong, Arnell, As- the holder, or unless at such time bonds of the Benton, Bingham, Blair, Boles, Booker, Boyd, Buck, I than the bonds to be redeemed can be sold at par per, Atwood, Ayer, Bailey, Banks,

Beatty, Benjamin, United States bearing a lower rate of interest Buckley, Buftinton, Benjamin F. Butler, Roderick R. Butler, Cessna, Churchill, Sidney Clarke, Clinton L. in coin. And the United States also solemnly Cobb, Coburn, Conger, Covode, Cullom, Davis, Dawes

, pledges its faith to make provision at the earliest Dockery, Donley, Ela, Finkelnburg, Fisher, Fitch, Hale, Fil. Iloar, Kooper. Jenckes, Judd, Julian, kel practicable period for the redemption of the logg, Kelsey, Ketcham, Knapp, Laflin, Lash, Lawrence, United States notes in coin. Loughridge, Marshall, McCarthy, McKenzie, Mercur, Which was disagreed to-yeas 54, nays 98, as Eliakim H. Noore, Jesse H. Moore, William Moore, follow: Daniel J. Morrell, Myers, Negley, O'Neill, Orth, Paine, Peck, Peters, Phelps, Poland, Porter, Prosser, Roots,

Yeas-Messrs. Allison, Ambler, Armstrong, Bennett, Sargent. Sawyer, Schenck, Scofield, Lionel A. Sheldon, Boles, George M. Brooks, Burchard, Benjamin F. ButJohn A. Smith, Worthington C. Smith, William Smyth, ler. Cessna, Amasa Cobb, Coburn, Cullom, Dickey, DickStarkweather, Stevens, Stokes, Stoughton, Strickland, inson, Dockery, Dox, Lyer, Ferry, Finkenburg, Fitch, Strong, Tanner, Taylor, Tillman, Townsend, Twichell, Griswold, Hale, Ilawkins, Hawley, Hay, Heflin, Hoar, Tyner, Upson, Van Horn, Wallace, Welker, Wheeler, Judd, Kelsey, Loughridge, McCormick, McCrary, MerWhitmore, Wilkinson, Willard, John T. Wilson-102. cur, Jesse H. Moore, Orth, Packard, Packer, Paine, Po

land, Pomeroy, Rogers, Shanks, Lionel A. Sheldon, ShoJuly 1—Mr. Schenck, from the Committee of ber, John A. Smith, Worthington ·C. Smith, William Ways and Means, moved to amend the 4th sec- Smyth, Stevenson, Stokes, Tyner, Wallace, Williams,

John T. Wilson, 11 oodward-54. tion by striking out the words “in the order of

Nays-Messrs. Adams, Ames, Archer, Asper, Axtell, their numbers and issue, beginning with the first Ayer, Bailey, Beaman. Benjamin, Benton, Bingham, numbered and issued.”

Bird, Blair, Booker, Boyd, Janes Brooks, Buck, Buckley, Which was agreed to.

Buffinton, Burdett, Burr, Roderick R. Butler, Calkin,

William T. Clark, Clinton L. Cobb, Conger, Cook, Cox, Mr. Holman moved to amend the 4th section Crebs, Davis, Donley, Ferriss, Fisher, Getz, Hamill, by striking out the words "coin in the Treasury Harris, Hill, Holman: Hooper, Ingersoll, Jenckes, of the United States," and inserting in lieu thereof Knutt, Laflin, Lash, Lawrence, Maynard, McCarthy,

Thomas L. Jones, Julian, Kelley, Ketcham, Knapp, the words “United States notes in the Treasury McGrew, Mck'enzie, William Moore, Daniel J. Morrell, of the United States arising from ti e sale of bonds Morrissey, Mungen, Myers, Negley, Nihlack, O'Neill authorized to be issued by this act, or other such Sanford, Sawyer, Schenck, Schumaker, Scofield, Slocum,

Peck, Peters, Phelps, Prosser, Randall. Reeves, Rice, notes in the Treasury."

Joseph S. Smith, William J. Smith, Stevens, Stiles, Stone, Which was disagreed to-yeas 41, nays 127, as

Stoughton, Strickland, Swann, Sweeney, Taffe, Tanner, follow:

Taylor, Tillman. Townsend, Trimble. Twichell, Upson,

Welker, Wheeler, Whitmore, Willard, Winans, Win YEAS-Messrs. Adams, Beatty, Bird, Burr, Cleveland, chester-98. Coburn, Crebs, Dickinson, Dockery, Dox, Eldridge, Getz, Mr. Griswold moved to strike out the 4th secGriswold, Hamill, Ilolman, Thomas L. Jones, Kerr, Knott, tion; which was disagreed to. Lewis, Marshall, Mayham, McCormick, McNeely, Morgan, Mungen, Niblack, Orth, Reeves, Rice, Rogers, Shober, Mr. Mungen moved to add to the 4th section Joseph S, Smith, Stiles, Sweeney, Trimble, Tyner, Van the following: Provided further, That nothing in Trump, Voorhees, Wells, Winchester, Woodward-41.

Nays-Messrs. Allison, Ambler, Ames, Archer, Arm- this act contained shall be construed to operate in strong, Arnell, Asper, Atwood, Axtell, Ayer, Bailey, conflict with the act of February 25, 1862, authorizBarnum, Benjamin, Bennett

, Benton, Bingham, Blair, ing the issue of United States notes, bonds, &c. Boles, Booker, Boyd, George M. Brooks, James Brooks, Buck, Buckley, Buffinton, Burchard, Burdett, Cessna,

Which was disagreed to. Churchill, William T. Clark.Amasa Cobb, Conger, Cul- Mr. Davis moved to amend the 5th section by lom, Davis, Dawes, Degener, Dickey: Donley, Dyer, inserting after the word “bullion,” the words Ferriss, Ferry, Finkelnburg, Fisher, Fitch, Hale, Marris, Hawley, Hay, Hays, Heflin, Hill, Hoar, Hooper,

assayed and stamped under the laws of the Jenckes, Alexander H. Jones, Judd, 'Julian, Kelley, United States,” which was agreed to. Mr. Davis Kellogg, Kelsey, Ketcham, Knapp, Laflin, Lash, Law- | also moved to reduce the interest on gold deposrence. Logan, Loughridge, Maynard, McCarthy, McCra: its from three per cent. to two per cent. ; which ry, McGrew, McKenzie, Mercur, Eliakim H. Moore, Jesse 8. Moore. William Moore. Morphis, Daniel J. Morrell

, was disagreed to. Myers, O'Neill, Packard, Packer, Paine, Palmer, Peck, Mr. Townsend moved to add to the 5th section Peters, Poland, Pomeroy, Porter, Prosser, Randala: the following: Provided, That if on a demand for

, SchenckScofield, Lionel A. Sheldon, Slocum, John A. Smith, William J. payment of any of said certificates in coin there Smith, Worthington C.Smith, William Smyth, Stevens, should not be sufficient gold coin in the Treasury Stevenson, Stokes, Stone, Stoughton, Strickland Swann, Taffe, Tanner, Taylor, Tillman, Townsend; arising under this act, then it shall be lawful for Twichell, Upson, Van Horn, Van Wyck, Wallace, Wel. I the Secretary of the Treasury to appropriate any



other gold coin in the Treasury in payment of Cobb, Clinton L. Cobb, Coburn, Cook, Conger, Cullom, said certificates.

Dawes, Degener, Dickey, Dockery, Donley, Ela, Fer

riss, Ferry, Finkelnburg, Fisher, Fitch, Hale, Harris, Which was disagreed to.

Hawley, Hay, Hill, Hoar, Hooper. Jenckes, Alexander Mr. Ingersoll moved to add the following: 1.Jones, Judd, Julian, Kelley, Kellogg, Kelsey, KetchThat from and after the passage of this act it am, Knapp, Lailin. Lash, Lawrenc Logan, Lough

ridge. Maynard, McCarthy, McGrew, McKenzie, Mercur, shall not be lawful for the Secretary of the Trea- Eliakim il. Moore, Jesse H. Moore, William Moore sury to sell any gold coin on account of the United Morphis, Daniel J. Morrel!, Myers. Negley, O'Neill, States; which was disagreed to.

Orth, Packard, Packer. Paine. Palmer, Peck. Perce

Peters, Phelps, Porter, Prosser. Roots. Santorul. Sargent, Mr. Maynard moved to amend section 6 by rer, Schenck, Schum ker, Scofield. Shanks, Por: inserting after the word “Department” the words ter Sheldon, Slocum, John A. Smith, William J Smith, “and a statement of the sinking fund shall be William Smyth. Stark weather, Stevens, Siune, Stough

ton, Strickland, Strong. Taffe, Tanner, Taylor. Tillman, kept, so as to show the principal of the fund, with Townsend. Twichell, Tyner, Upson. Van llo:n, Var the current interest, as it would be if the bonds Wyck, Wallace, Cadwalader C. Washburn, Welker, Wells, composing the said fund were kept to represent it.” Whitmore, Willard, Williams, John

T. Wilson—129.

NAYS-Messrs. Adams, Archer, Bratty, Berk, Birrl, CalWhich was disagreed to.

kin, Cleveland, Crebs, Davis, Dox, Eldridge, Cetz, Griswoli, Mr. Davis moved to add at the end of the bill Hamill, Hawkins, Ingersoll, Johnson, Thomus L. Jones

Kerr Knott, Lewis. Marshall, Mayhem, McNeely, Morgan, the following sections:

Mungen, Niblack, Randall, Reeres, Rice, Sierrod, Shober SEC. 7. That the Secretary of the Treasury is Stevenson, Stiles, Sweeney, Trimblé. Van Trump, Voorlees, hereby authorized and directed to issue registered Eugene M. Wilson, Winchester, Wood, Woodward42. bonds of the United States, in such form and of The Senate refused to concur in the amend. such denominations, of not less than fifty dollars ments of the House, and asked and obtained a and multiples thereof, as he shall think proper, conference. The committee was composed of payable in thirty years from date in gold, bear- Messrs. Sherman, Sumner, and Davis, on the ing interest at four per cent., payable semi

part of the Senate, and Messrs. Schenck, Hooper, annually in gold, and free from all excise and | and Marshall, on the part of the House. taxation whatever, either on such bonds or the

July 12–The committee reported a bill preincome derived therefrom, and redeemable in cisely similar to that which finally passed, with gold at the option of the United States after ten the addition of the following section : years, upon six months' public notice, which said

Sec. 7. That from and after the passage of this bonds shall be known as the convertible bonds act the Treasurer of the United States shall reof the United States; and such bonds shall ex-ceive no other than registered bonds issued under press on their face that they are convertible at the provisions of this act as security for the circuany time into legal-tender notes.

lating notes of national banking associations isSEC. 8. That henever any person shall pay sued under the act entitled "An act to provide a any legal-tender notes of the United States at national currency secured by a pledge of United the Treasury or at any assistant treasury of the States bonds, and to provide for the circulation United States, to the amount of fifty dollars or and redemption thereof,” approved June 3, 1864, any multiple thereof, for that purpose he shall or any act supplementary or amendatory thereof. receive at par value an equal amount of such Which report was rejected by the House-yeas convertible bonds, and whoever shall present one 88, nays 103, as follow: or more of said convertible bands at the Treasury

YEAS-Messrs. Ambler, Ames, Armstrong, Atwood, or at any assistant treasury of the United States, Ayer, Bailey, Banks. Bennett, fienton, kingham, Boles, or at any public depository of the moneys of the G. M. Brooks, Buffinton. Burdett, Roderick R. Butler, United States which the Secretary of the Treas- Cake, Cessna, Churchill, Conger, Covode, Cowles,

Davis, Dawes. Dixon, Donley, Duval, Ela, Ferriss, ury shall have designated for that purpose, and Ferry, Finkelnburg, Fisher, Fitch, Gilfillan, Hoar, demand redemption thereof, at any time before llooper, Jenckes, Julian, Kelley, Kellogg, Kelsey, the maturity thereof, he shall receive the face of Ketcham, Knapp, Laflin, Lawrence, Lynch, Maynard,

McCarthy, McCrary, McGrew, Mercur, Eliakim II. his bond or bonds in legal-tender notes at par Moore, William Moore, Myers, Neg!ey, O'Reill, Orth, value, and the accrued interest remaining unpaid Packard, Peck, Peters, Phelps. Poland, Roots, Sanup to the date of such demand in gold; and ford. Sargent, Sawyer, Schenck: Scofield, Shanks,

Porter Sheldon, John A. Smith, William J. Smith. Wilsuch bonds shall be immediately canceled and liam Smyth, Starkweather, Stevens, Stokes, Stoughton, returned to the Treasurer of the United States Strickland, Strong: Tanner, Taylor, Twichell, Upson,

Cadwalader C. Washburn, William B. Washburn, 'Wels as vouchers of the amount paid thereon.

ker, Wheeler, Willard, Williams-88. Sec. 9. That the Secretary of the Treasury NaYs--Messrs. Adams, Allison, Archer, Asper, Axtell, shall, as soon as practicable after receiving the Barnum, Barry, Beatty, Beck, Benjamin, Biggs, Bird same, use or invest at least eighty per cent., and Blair, Booker, Bowd. James Brooks. Buckley, Burchard,

Burr, Callein, William T. Clark, Sidney Clarke. Cleven as much more as he shall deem expedient, of all lud. Ainasa Cobb, Coburn, Conner, Cox, Crebs, Cullom, legal-tender notes received for such bonds, in Darrall. Dickinson, Eldridge, Fox, Garfield, Getz, Grisbuying up or redeeming the six per cent. gold llawkins, 'Hawley, Hlay, Hays, Iletin. Ho'man, Inger

woul. Haight, Haldeman, Hambleton, Hamill, Harris, interest bonds of the United States. And he soll, Johnson, Thomas L. Jones, Judd, Kerr, ki nott, Lash, shall have authority to make such regulations Lewis, Loughridge, Marshall, Mayham, Mc Cormick, Me as he shall deem needful to carry the provisions Daniel J. Morrell, Mungen, Niblack, Packer. Paine,

Kenzie, McNeely, Jesse H. Moore, Morgan, Morphis, of this act into effect.

Palmer, Platt, Pomeroy, Potter, Randall, Reeres. Rice, Which was disagreed to.

Rogers, Schumaker, Lionel A. Sheldon, Sherrod, Slocum, The substitute was then agreed to and the bill Joseph Smith, Worthington C. Smith, Stiles, Stume,

Swann, Taffe, Townsend, Trimble, Tyner, Van Auken, passed-yeas 129, nays 42, as follow:

Van Horn, Van Trump, Van Wyck, Vocrhees. Whitmore, YEAS-Messrs. Allison, Ambler, Ames, Armstrong, Wilkinson, Eugene M. Wilson, John T. Wilson, WinArnell, Asper, Atwood, Axtell, Ayer, Bailey, Barnum, chester, Witcher, Wood, Woodward103. Berjamin, Bennett, Benton, Bingham, Blair, Boles, The same committee was appointed on the Booker, Boyd. George M. Brooks, Buck. Buckley, Butfinton, Burchard, Burdett, Roderick R. Butler, Cessna, second conference, and the bill, as finally passed Churchill, William T. Clark, Sidney Clarke, Amasa' and printed above, was agreed to.





Stokes, Stone, Stoughton, Strader, Strickland, Strong,

Swann, Sweeney, Tanner, Tillman, Townsenıl, Trimble, 1870, May 27-Mr. Schenck, from the com- Twichell, Upson, Van Auken, William B. Washburn, mittee of Ways and Means, reported “ A bill to Wells, Wheeler, Winans, Winchester, Wood, Woodward reduce internal taxes and for other purposes,"


NAYS-Messrs. Ambler, Ames, Arnell, Asper, Beatty, which, he stated, reduced taxation about $34,- Benjamin, Benton, Bingham, Blair, Boyd, Burdett, 000,000. Among other things, it provided for Benjamin F. Butler, Roderick R. Butler, Amasa Cobb an income tax of five per cent. on all incomes Coburn, Crebs, Dyer, Ela, Finkelnburg: Garfield, Alex:

ander H. Jones, Kelsey, Knapp, Knott, Lash, Lewis, over $1,500.

Loughridge, Maynard, McCormick, McCrary, Eliakim June 1-Mr. Cox moved to reduce the tax H. Moore, Samuel P. Morrill, Paine, Rice, Roots, from five to three per cent.

Schenck, Schumaker, William J. Smith, William Smyth,

Taffe, Taylor, Tyner, Van Horn, Wallace, Ward, Wel. Which was agreed to-yeas 114, nays 76, as ker, Wilkinson, Willard, Williams, Eugene M. Wilson, follow:

John T. Wilson, Witcher-51. Yeas-Messrs. Allison, Ames, Archer, Armstrong, Ax- Mr. Potter moved to amend by adding the foltel, Ayer, Banks, Barry, Beck, Bennett, Bigjs. Bingham, lowing proviso: Bird, Bowen, George M. Brooks, James Brooks, Buffinton, Burr, Sidney Clarke, Cleveland, Covode, Cowles,

Provided, That the tax imposed by this section Davis, Dawes, Deweese, Degener, Dickinson, Dopley, shall not continue or be collected after the exDox, Duval, Eldridge, Ferriss, Finkelnburg, Fisher, piration of the year 1870. Fitch, For, Getz, Gilfillan, Griswold. Haight, Hambleton,

Which was disagreed to-yeas 72, nays 107, Hamill, Hamilton, Harris, Heflin, lill, Hoar, Holman, Hooper, Hotchkiss, Jenckes, Johnson, Judd, Kelley, as follow: Kellogg, Kerr, Ketcham, Knapp, Laflin, Lawrence, Lynch, 'Mayham, McCarthy, McGrew, McKenzie, Mc YEAS-Messrs. Ames, Archer Armstrong, Banks, BenNeely, Milnes, William Moore, Morgan, Daniel J. Morrell, i nett, Biggs, Bird. Bowen, Buffinton, Burr, Benjamin F. Morrissey, Myers, Negley, Newsham, Niblack, O'Neill,

Butler, Cieveland, Covode, Cowles, Crebs, Davis, Dickinson, Orth, Packer, Perce, Peters, Porter, Potter, "Prosser; Dox, Eldridge, Fisher, Fitch, Fox, Garfield, Getz, Gibson, Randall

, Reeves, Ridgway, Sargent, Sawyer, Scofield, Por? Haight, Hamill, Hill, Hotchkiss, Johnson, Kelley, Kelter Sheldon, Slocum, Joseph S. Smith, Worthington C. logs, Laflin, Lynch, Mayham, McCarthy, McKenzie, Smith, Starkweather, Stevenson, Stiles, Stone, Strader,

McNeely, Milnes, William Moore, Daniel 'J. Morrell, Strong, Swann, Sweeney, Tanner, Taylor, Townsend,

Morrissey, Myers, Negley, Newsham, Niblack, O'Neill, Trimble, Twichell, Upson, William B. Washburn, Welo Packer, Paine, Phelps, Platt, Potter, Randall, Reeves, ker, Wells, Wheeler, John T. Wilson, Winans, Win- Sargent, Schumaker, Slocum, Joseph S. Smith, Starkchester, Il’ood --114.

weather, Stevenson, Stiles, Stone. Strader. Strong, Nays-Messrs. Ambler, Arnell, Asper, Atwood, Bailey, Swann, Sweeney, Taylor, Trimble, Upson, Whitmore, Beaman, Beatty, Benjamin, Benton, Blair, Boles,

Wood, Woodward72. Booker, Boyd, Burchard, Burdett, Benjamin F. Butler,

NAYS-Messrs. Allison, Ambler, Arnell, Asper, AtRoderick R. Butler, William T. Clark, Amasa Cobb, Co wood, Ayer, Bailey, Barry, Beaman, Beatty, Benjamin, burn, Cook, Conger, Crebs, Cullom, Dockery, Ela, Farns. Benton, Bingham, Blair, Boles. Bo iker, Boyd, George worth, Garfield, Gibson, Hale, Hawkins, 'llay, Hays, M. Brooks, Burchard, Burdett, Roderick R. Butler, Ingersoll, Alexander II. Jones, Kelsey, Lash, Lewis, Sidney Clarke, Amasa Cobb, Coburn, Cook, Conger, Logan, Loughridge, Marshall, Maynard, McCormick', Cullom, Dixon, Dockery, Donley, Duval. Dyer, Ela, McCrary, Mercur, Eliakim II. Moore, Jesse H. Moore,

Farnsworth, Ferriss, Finkelnburg, Gilfillan, Hale, Morphis, Samuel P. Morrill, Packard, Paine, Peck, Hambleton, Hamilton, Harris, IIawkins, Hawley, Hay, Phelps, Pomeroy, Rice, Roots, Schenck, Lionel A. Hays, Heflin, Hoar, Holman, Hooper, Ingersoli,' Alex: Sheldon, Sherrod, John A. Smith, William J. Smith; ander H. Jones, Judd, Kelsey, Kerr, Knott, La-h, LawWilliam Smyth, Stokes Stoughton, Strickland, Till

rence, Lewis, Loughridge, Marshall, Maynard, McCor. man, Tyner. Van Anken, Van Horn, Wallace, Ward, Wil- mick, McCrary, McGrew, Mercur. Eliakim II. Moore, kinson, Willard, Williams, Eugene M. Wilson, Witcher- Jesse H. Moore, Morphis, Samuel P. Morrill, Orth, 76.

Packard, Peck, Perce, Peters, Rice, Ridgwry, Roots,

Sawyer, Schenck, Scofield, Lionel A. Sheldon, Sherrod, Mr. Hawley moved to amend by raising the John A. Smith, William J. Smith, Worthington o. amount exempted to $2,500.

Smith, William Smyth, Stokes, Stoughton, Strickland, Which amount Mr. Hale moved to reduce to Taffe, Tanner, Townsend, Twichell, Tyner, Van Auken,

Van Horn, Wallace, Ward, William B. Washburn, $2,000; which was agreed to.

Welker, Wheeler, Wilkinson, Williams, Eugene M. WilMr. Hawley's amendment as amended was son, John T. Wilson, Winans, Witcher-107. then agreed to-yeas 138, nays 52, as follow : Mr. Woodward moved to strike out all of sec

YEAR-Messrs. Allison, Archer, Armstrong, Atwood, tion 35, levying the income tax, and insert the Axtell, Ayer, Bailey, Banks, Barry, Beaman, Beck, Bennett, Biggs, Biru, Boles, Bowen, George M. Brooks,

following: James Brooks, Buffinton, Burchard, Burr, William T.

That there shall be levied a tax at the rate of Clark, Sidney Clarke, Cleveland, Cook, Conger. Covode, five per cent. per annum upon the interest of Cowles, Cullom, Davis, Dawes, Dickinson. Dockery, Lonley, Don, Daval Eldridge. Farnsworth, Ferriss, Fisher, interest-bearing bonds issued or to be issued by Fitch, Fox, Getz, Gibson, Gilfillan, Griswold, Haight, Hale, the Government of the United States, to be deHambleton, Hamill, Harris, Hawkins, Hawley, Hlay, ducted and retained from the payments of interHays, lieflin, Hill, Hoar, Holman, Jooper, Hotchkiss, est upon said bonds, under regulations to be Ingersoll, Jenckes, Johnson, Judd, Kelley, Kellogg, Kerr, Ketcham, Laflin, Logan, Lynch, Marshall, May prescribed by the Secretary of the Treasury. ham, McCarthy, McGrew, Mck'enzie, McNeely, Mercur, Which was disagreed to. Milnes, Jesse II. Moore, William Moore, Morgan, Mor

Mr. Holman moved to add the following: rissey. Myers, Newsham, Niblack, O'Neill, Orih, Backard, Packer, Peck, Perce, Peters, Phelps, Platt, Pome- And a tax of ten per centum per annum on the roy, Porter, Potter, Prosser, Randall

, Reeves, Ridgway, interest and income accruing from all bonds, Sargent, Sawyer, Scofield, Lionel A. Sheldon. Porter Sheldon, Sherrod, Slocum, John A. Smith, Joseph s notes, and other securities of the United States Smith, W. C. Smith, Starkweather, Stevenson, Stiles, the same to be deducted and withheld from such

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