bonds deposited for the purposes aforesaid shall be designated for purchase or redemption by the Secretary of the Treasury, the banking association depositing the same shall have the right to substitute other issues of the bonds of the United States in lieu thereof: Provided, That no bond upon which interest has ceased shall be accepted or shall be continued on deposit as security for circulation or for the safe-keeping of the public money; and in case bonds so deposited shall not be withdrawn as provided by law within thirty days after interest has ceased thereon, the banking association depositing the same shall be subject to the liabilities and proceedings on the part of the Comptroller provided for in section 5234 of the Revised Statutes of the United States: And provided further, That section 4 of the act of June 20, 1874, entitled, "An act fixing the amount of United States notes, providing for a redistribution of the national bank currency, and for other purposes," be, and the same is hereby, repealed, and sections 5159 and 5160 of the Revised Statutes of the United States be, and the same are hereby, re-enacted. SEC. 6. That this act shall be known as "The funding act of 1880;" and all acts and parts of acts inconsistent with this act are hereby repealed. January 19-The amendments made in Committee of the Whole were concurred in by the House without a division, with these exceptions: The amendment changing the rate of interest from 31⁄2 per cent. to 3 per cent. was agreed to -yeas 149, nays 104: YEAS-Messrs. Acklen, Aiken, Atherton, Atkins, Bachman, Barber, Beale, Beltzhoover, Berry, Bicknell, Blackburn, Bland, Bliss, Blount, Bouck, Bragg, Cabell, Caldwell, Carlisle, Chalmers, Clardy, J. B. Clark, N. N. Clements, Clymer, Coffroth, Colerick, Conger, Converse, Cook, Covert, S. S. Cox, Cravens, Culberson, Daggett, Davidson, J. J. Davis, L. H. Davis, DE LA MATYR, Deuster, Dibrell, Dickey, Dunn, Dunnell, Elam, Evins, Felton, Finley, FORD, Forney, FORSYTHE, Frost, Geddes, Goode, Gunter, N. J. Hammond, J. T. Harris, Hatch, Henkle, Herbert, W. D. Hill, Hooker, Hostetler, House, Hull, Hunton, G. W. JONES, Kelley, Kenna, Kimmel, Kitchin, Klotz, Knott, Le Fevre, Lounsbery, Lowe, Manning, Marsh, B. F. Martin, E. L. Martin, McCoid, McKenzie, McMahon, McMillin, Mills, Money, Muldrow, Muller, MURCH, New, Nicholls, O'Connor, O'Reilly, Persons, Phelps, Philips, Phister, Poehler, Reagan, J. S. Richardson, Richmond, E. W. Robertson, Ross, Rothwell, D. L. RUSSELL, J. W. Ryon, Samford, Sawyer, Scales, Scoville, Shelley, Simonton, J. W. Singleton, O. R. Singleton, Slemons, H. B. Smith, W. E. Smith, Sparks, Speer, Springer, Steele, Stevenson, Talbott, R. L. Taylor, P. B. Thompson, jr., Tillman, R. W. Townshend, Tucker, O. Turner, T. Turner, T. Updegraff, Upson, Van Aernam, Vance, Van Voorhis, Waddill, Washburn, WEAVER, Wellborn, Wells, H. White, Whiteaker, Whitthorne, T. Williams, Willis, Wilson, Wise, F. Wood, WRIGHT, YOCUM-149. | NAYS-Messrs. N. W. Aldrich, W. Aldrich, Anderson, Bailey, Baker, Ballou, Belford, Bing | | ham, Blake, Bowman, Boyd, M. S. Brewer, Briggs, Brigham, Buckner, J. C. Burrows, Butterworth, Calkins, Cannon, Carpenter, Caswell, Claflin, Cowgill, Crapo, G. R. Davis, H. Davis, Deering, Dick, Dwight, Einstein, Errett, Ferdon, Field, Fisher, Fort, Frye, Godshalk, Hall, J. Hammond, Harmer, B. W. Harris, Haskell, Hawley, Hayes, Heilman, Henderson, Henry, Hiscock, Horr, Hubbell, Humphrey, Hutchins, Keifer, Ketcham, Killinger, Lapham, Lindsey, Loring, Mason, McGowan, McKinley, McLane, Miles, W. Miller, Mitchell, Monroe, Morrison, Morse, Morton, Neal, Newberry, Norcross, O'Neill, Overton, Pacheco, Page, Pound, Prescott, Price, Reed, W. W. Rice, D. P. Richardson, G. D. Robinson, W. A. Russell, T. Ryan, Sapp, Shallenberger, Sherwin, A. H. Smith, J. W. Stone, E. B. Taylor, W. G. Thompson, AĂ. Townsend, Tyler, J. T. Updegraff, Urner, Valentine, Voorhis, Wait, Ward, A. J. Warner, Wilber, Willits, W. A. Wood-104. The amendment inserting in Section I the following words: "Provided further, That before any of the bonds or certificates authorized by this act are issued it shall be the duty of the Secretary of the Treasury to pay on the bonds accruing during the year 1881 all the silver dollars of 4121⁄2 grains, and all the gold over and above $50,000,000, now held in the Treasury for redemption purposes," was disagreed to -yeas III, nays 140: YEAS-Messrs. Aiken, Atkins, Beale, Belford, Berry, Bicknell, Blackburn, Bland, Bouck, Bragg, Cabell, Caldwell, Chalmers, Clardy, J. B. Clark, N. N. Clements, Coffroth, Colerick, Cook, S. S. Cox, Culberson, Davidson, J. J. Davis, L. H. Davis, DE LA MATYR, Dibrell, Dickey, Dunn, Elam, Ellis, Evins, Felton, Finley, FORD, Forney, FORSYTHE, Frost, Geddes, GILLEITE, Goode, Gunter, N. J. Hammond, J. T. Harris, Hatch, Henkle, Herbert, W. D. Hill, Hooker, Hostetler, House, Hull, Hunton, G. W. JONES, Kenna, Klotz, Knott, Le Fevre, LowE, Manning, B. F. Martin, McKenzie, McMahon, McMillin, Mills, Money, Muldrow, Muller, MURCH, New, Nicholls, Persons, Phelps, Philips, Phister, Reagan, J. S. Richardson, Richmond, Rothwell, D. L. RUSSELL, Samford, Sawyer, Scales, J. W. Singleton, O. R. Singleton, Slemons, H. B. Smith, W. E. Smith, Sparks, Speer, Springer, W. L. Steele, Stevenson, Talbott, R. L. Taylor, P. B. Thompson, jr., Tillman, R. W. Townshend, O. Turner, T. Turner, Vance, Waddill, WEAVER, Wellborn, Whiteaker, Whitthorne, T. Williams, Willis, Wilson, Wise, WRIGHT, YOCUM-III. NAYS-Messrs. Acklen, N. W. Aldrich, W. Aldrich, Anderson, Atherton, Bachman, Bailey, Baker, Ballou, Barber, Beltzhoover, Blake, Bliss, Blount, Bowman, Boyd, M. S. Brewer, Briggs, Brigham, Buckner, J. C. Burrows, Butterworth, Calkins, Cannon, Carlisle, Carpenter, Caswell, Chittenden, Claflin, Clymer, Conger, Converse, Covert, Cowgill, Crapo, Cravens, Daggett, G. R. Davis, H. Davis, Deering, Deuster, Dunnell, Dwight, Einstein, Ferdon, Field, Fort, Frye, Godshalk, Hall, Harmer, B. W. Harris, Haskell, Hawley, Hayes, Heilman, Henderson, Henry, Horr, Hubbell, Humphrey, Hurd, Hutchins, Johnston, Keifer, Kelley, The amendment adding to Section 3 the following: "And the Secretary of the Treasury is hereby authorized and directed to make suitable rules and regulations to carry this act into effect: Provided, That the expense of preparing, issuing, advertising, and disposing of the bonds and certificates authorized to be issued shall not exceed one-quarter of one per cent.," was agreed to-yeas 151, nays 103: | man, Henderson, Hiscock, Horr, Hubbell, Humphrey, Hutchins, Keifer, Ketcham, Killinger, Lapham, Lindsey, Loring, Marsh, Mason, McCoid, McCook, McGowan, McKinley, McLane, Miles, W. Miller, Mitchell, Monroe, Morse, Newberry, Norcross, O'Neill, Overton, Page, Pound, Prescott, Price, Reed, W. W. Rice, D. P. Richardson, G. D. Robinson, D. L. RUSSELL, W. A. Russell, Sapp, Shallenberger, Sherwin, A. H. Smith, J. W. Stone, E. B. Taylor, W. G. Thompson, A. Townsend, Tyler, J. T. Updegraff, T. Updegraff, Urner, Valentine, Van Aernam, Voorhis, Wait, Ward, Washburn, Wells, H. White, Wilber, C. G. Williams, Willits, W. A. Wood-103. The amendment striking out Section 5 and inserting the following: "From and after the 1st day of May, 1881, the three per cent. bonds authorized by the first section of this act shall be the only bonds receivable as security for national bank circulation, or as security for the safe-keeping and prompt payment of the public money deposited with such banks; but when any such bonds deposited for the purposes aforesaid shall be designated for purchase or redemption by the Secretary of the Treasury, the banking association depositing the same shall have the right to substitute other issues of the bonds of the United States in lieu thereof: Provided, That no bond upon which interest has ceased shall be accepted or shall be continued on deposit as security for circulation or for the safe so deposited shall not be withdrawn as provided by law, within thirty days after interest has ceased thereon, the banking association depositing the same shall be subject to the liabilities and proceedings on the part of the Comptroller provided for in section 5234 of the Revised Statutes of the United States: And provided further, That section 4 of the act of June 20, 1874, entitled, 'An act fixing the amount of United States notes, providing for a redistribution of the national bank currency, and for other purposes,' be, and the same is hereby, repealed, and sections 5159 and 5160 of the Revised Statues of the United States be, and the same are hereby, re-enacted" YEAS-Messrs. Acklen, Aiken, Atherton, Atkins, Bachman, Baker, Barber, Beale, Beltzhoover, Berry, Bicknell, Blackburn, Bland, Bliss, Blount, Bouck, Bragg, Buckner, Cabell, Caldwell, Carlisle, Chalmers, Clardy, J. B. Clark, N. N. Clements, Clymer, Coffroth, Col-keeping of the public money; and in case bonds erick, Converse, Cook, Covert, S. S. Cox, Cravens, Culberson, Daggett, Davidson, H. Davis, 7. J. Davis, L. H. Davis, DE LA MATYR, Deuster, Dibrell, Dickey, Dunn, Elam, Ellis, Evins, Felton, Ferdon, FORD, Forney, FORSYTHE, Frost, Geddes, GILLETTE, Goode, Gunter, Hall, N. J. Hammond, J. T. Harris, Haskell, Hatch, Hayes, Henkle, Henry, Herbert, W. D. Hill, Hooker, Hostetler, House, Hull, Hunton, G. W. JONES, Kelley, Kenna, Kimmel, King, Kitchin, Klotz, Knott, Le Fevre, Lounsbery, LOWE, Manning, B. F. Martin, E. L. Martin, McKenzie, McMahon, McMillin, Mills, Money, Morrison, Muldrow, Muller, New, Nicholls, O'Connor, Pacheco, Persons, Phelps, Philips, Phister, Poehler, Reagan, J. S. Richardson, Richmond, E. W. Robertson, Ross, Rothwell, T. Ryan, J. W. Ryon, Samford, Sawyer, Scales, Scoville, Shelley, Simonton, J. W. Singleton, O. R. Singleton, Slemons, H. B. Smith, W. E. Smith, Sparks, Speer, Springer, W. L. Steele, Stevenson, Talbott, R. L. Taylor, Thomas, P. B. Thompson, jr., Tillman, R. W. Townshend, Tucker, O. Turner, T. Turner, Upson, Vance, Waddill, A. J. Warner, WEAVER, Wellborn, Whiteaker, Whitthorne, T. Williams, Willis, Wilson, Wise, F. Wood, WRIGHT, YOCUM-151. Was agreed to-yeas 137, nays 119: YEAS-Messrs. Acklen, Aiken, Atherton, Atkins, Bachman, Beale, Berry, Bicknell, Bland, Blount, Bouck, Bragg, Buckner, Cabell, Caldwell, Carlisle, Chalmers, Clardy, J. B. Clark, N. N. Clements, Clymer, Colerick, Converse, Cook, Covert, S. S. Cox, Cravens, Culberson, Davidson, J. J. Davis, L. H. Davis, DE LA MAYTR, Deuster, Dibrell, Dickey, Dunn, Elam, Ellis, Evins, Felton, Finley, FORD, Forney, Frost, Geddes, GILLETTE, Goode, Gunter, N. J. Hammond, J. T. Harris, Hatch, Henkle, Henry, Herbert, W. D. Hill, Hooker, Hostetler, House, Hull, Hunton, G. W. JONES, Kenna, Kimmel, King, Kitchin, Klotz, Knott, Le Fevre, Lounsbery, Lowe, Manning, Marsh, B. F. Martin, E. L. Martin, McKenzie, McLane, McMahon, McMillin, Mills, Money, Morrison, Muldrow, Muller, MURCH, New, Nicholls, O'Connor, Persons, Phelps, Philips, Phister, Reagan, J. S. Richardson, Richmond, E. W. Robertson, Ross, Rothwell, D. L. RUSSELL, Samford, Sawyer, Scales, Scoville, Shelley, Simonton, J. W. Singleton, O. R. Singleton, Slemons, H. B. Smith, W. E. Smith, Sparks, Speer, Springer, W. L. Steele, Stevenson, Talbott, R. L. Taylor, P. B. Thompson, jr., Tillman, R. W. Townshend, Tucker, O. Turner, T. Turner, Vance, Waddill, A. J. Warner, WEAVER, Wellborn, Wells, Whiteaker, Whitthorne, T. Williams, Willis, Wilson, Wise, F. Wood, WRIGHT, YOCUM-137. NAYS-MESSRS. N. W. Aldrich, W. Aldrich, Anderson, Bailey, Baker, Ballou, Barber, Beltzhoover, Bingham, Blake, Bowman, Boyd, M. S. Brewer, Briggs, Brigham, J. C. Burrows, Butterworth, Calkins, Camp, Cannon, Carpenter, Caswell, Chittenden, Claflin, Coffroth, Conger, Cowgill, Crapo, Daggett, G. R. Davis, H. Davis, Deering, Dick, Dunnell, Dwight, Einstein, Errett, Ferdon, Field, Fisher, FORSYTHE, Fort, Godshalk, Hall, J. Hammond, Harmer, B. W. Harris, Haskell, Hawley, Hayes, G. C. Hazelton, Heilman, Henderson, Hiscock, Horr, Hubbell, Humphrey, Hutchins, Keifer, Kelley, Ketcham, Killinger, Lapham, Lindsey, Loring, Mason, McCoid, McCook, McGowan, McKinley, Miles, W. Miller, Mitchell, Monroe, Morse, Morton, Neal, Newberry, Norcross, O'Neill, Overton, Pacheco, Page, Pound, Prescott, Price, Reed, W. W. Rice, D. P. Richardson, G. D. Robinson, W. A. Russell, T. Ryan, J. W. Ryon, Sapp, Shallenberger, Sherwin, A. H. Smith, J. W. Stone, E. B. Taylor, Thomas, W. G. Thompson, A. Townsend, Tyler, J. T. Updegraff, T. Updegraff, Upson, Urner, Valentine, Van Aernam, Voorhis, Van Voorhis, Wait, Ward, Washburn, H. White, Wilber, C. G. Williams, Willits, W. A. Wood-119. The bill then finally passed-yeas 135, nays 125: YEAS-Messrs. Acklen, Atherton, Atkins, Bachman, Barber, Beale, Berry, Bicknell, Blackburn, Bliss, Blount, Bouck, Bragg, Buckner, Cabell, Caldwell, Carlisle, Chalmers, Clardy, 7. B. Clark, N. N. Clements, Clymer, Coffroth, Converse, Cook, Covert, S. S. Cox, Cravens, Culberson, Davidson, J. J. Davis, L. H. Davis, Deuster, Dibrell, Dickey, Dunn, Dunnell, Elam, Evins, Felton, Forney, Frost, Geddes, Goode, Gunter, N. J. Hammond, J. T. Harris, Hatch, Henkle, Henry, Herbert, W. D. Hill, Hooker, Hostetler, House, Hull, Hunton, Hurd, Hutchins, Johnston, Kelley, Kenna, Ketcham, Kimmel, King, Kitchin, Klotz, Knott, Le Fevre, Lounsbery, Manning, Marsh, B. F. Martin, E. L. Martin, McKenzie, McLane, McMahon, McMillin, Miles, Mills, Money, Morrison, Muldrow, Muller, New, Nicholls, O'Connor, Persons, Philips, Phister, Poehler, Reagan, J. S. Richardson, Richmond, Ross, Rothwell, D. L. RUSSELL, Samford, Sawyer, Scales, Scoville, Shelley, Simonton, J. W. Singleton, O. R. Singleton, Slemons, A. H. Smith, H. B. Smith, W. E. Smith, Sparks, Springer, W. L. Steele, Talbott, R. L. Taylor, P. B. Thompson, jr., Tillman, R. W. Townshend, Tucker, T. Turner, T. Updegraff, Upson, Vance, Waddill, A. J. Warner, Washburn, Wellborn, Wells, H. White, Whiteaker, Whitthorne, T. Williams, Willis, Wilson, Wise, F. Wood-135. NAYS-Aiken, N. W. Aldrich, W. Aldrich, Anderson, Bailey, Baker, Ballou, Belford, Beltzhoover, Bingham, Blake, Bland, Bowman, Boyd, M. S. Brewer. Briggs, Brigham, J. C. Burrows, Butterworth, Calkins, Camp, Cannon, Carpenter, Caswell, Claflin, Colerick, Conger, Cowgill, Crapo, Daggett, G. R. Davis, H. Davis, De La MATYR, Deering, Dick, Dwight, Einstein, Ellis, Errett, Ferdon, Field, Fisher, FORD, FORSYTHE, Fort, Frye, GILLETTE, Godshalk, Hall, J. Hammond, Harmer, B. W. Harris, Haskell, Hawley, Hayes, G. C. Hazelton, Heilman, Henderson, Hiscock, Horr, Hubbell, Humphrey, G. W. JONES, Keifer, Killinger, Lapham, Lindsey, Loring, LOWE, Mason, McCoid, McCook, McGowan, McKinley, W. Miller, Mitchell, Monroe, Morse, Morton, MURCH, Neal, Newberry, Norcross, O'Neill, Overton, Pacheco, Page, Phelps, Pound, Prescott, Price, Reed, W. W. Rice, D. P. Richardson, E. W. Robertson, G. D. Robinson, W. A. Russell, T. Ryan, J. W. Ryon, Sapp, Shallenberger, Sherwin, Speer, Stevenson, J. W. Stone, Ezra B. Taylor, Thomas, W. G. Thompson, A. Townsend, Tyler, J. T. Updegraff, Urner, Valentine, Van Aernam, Voorhis, Wait, Ward, WEAVER, Wilber, C. G. Williams, Willits, W. A. Wood, WRight, YOCUM, T. L. Young-125. The bill as passed by the House was as follows: An act to facilitate the refunding of the national debt. Be it enacted, etc., That all existing provisions of law authorizing the refunding of the national debt shall apply to any bonds of the United States bearing a higher rate of interest than four and one-half per centum per annum which may hereafter become redeemable: Provided, That in lieu of the bonds authorized to be issued by the act of July fourteenth, eighteen hundred and seventy, entitled "An act to authorize the refunding of the national debt," and the acts amendatory thereto, and the certificates authorized by the act of February twenty-sixth, eighteen hundred and seventy-nine, entitled "An act to authorize the issue of certificates of deposit in aid of the refunding of the public debt," the Secretary of the Treasury is hereby authorized to issue bonds in the amount of not exceeding four hundred million dollars, which shall bear interest at the rate of three per centum per annum, redeemable, at the pleasure of the United States, after five years, and payable ten years from the date of issue, and also certificates in the amount of three hundred million dollars, in denominations of ten, twenty, and fifty dollars, either registered or coupon, bearing interest at the rate of three per centum per annum, redeemable, at the pleasure of the United States, after one year, and payable in ten years from the date of issue. The bonds and certificates shall be, in all other respects, of like character and subject to the same provisions as the bonds authorized to be issued by the act of July fourteenth, eighteen hundred and seventy, entitled "An act to authorize the refunding of the national debt," and acts amendatory thereto: Provided, That nothing in this act shall be so construed as to authorize an increase of the public debt: Pro vided further, That interest upon the six per cent. bonds hereby authorized to be refunded shall cease at the expiration of thirty days after notice that the same have been designated by the Secretary of the Treasury for redemption. SEC. 2. The Secretary of the Treasury is hereby authorized, in the process of refunding the national debt, to exchange, at not less than par, any of the bonds or certificates herein authorized for any of the bonds of the United States outstanding and uncalled bearing a higher rate of interest than four and one-half per centum per annum; and on the bonds so redeemed the Secretary of the Treasury may allow to the holders the difference between the interest on such bonds from the date of exchange to the time of their maturity and the interest for a like period on the bonds or certificates issued; but none of the provisions of this act shall apply to the redemption or exchange of any of the bonds issued to the Pacific Railway Companies; and the bonds so received and exchanged in pursuance of the provisions of this act shall be canceled and destroyed. to the liabilities and proceedings on the part of the Comptroller provided for in section fifty-two hundred and thirty-four of the Revised Statutes of the United States: And provided further, That section four of the act of June twentieth, eighteen hundred and seventy-four, entitled "An act fixing the amount of United States notes, providing for a redistributiou of the national bank currency, and for other purposes," be, and the same is hereby, repealed; and sections fifty-one hundred and fifty-nine and fifty-one hundred and sixty of the Revised Statutes of the United States be, and the same are hereby, re-enacted. SEC. 6. That this act shall be known as "The funding act of eighteen hundred and eightyone;" and all acts and parts of acts inconsistent with this act are hereby repealed. IN SENATE. The bill having been reported from the Finance Committee, February 4, by Mr. BAYARD, with amendments, and the Senate being in Committee of the Whole February 17-Mr. FERRY moved to amend the first section, referring to the rate of interest on the bonds, so as to read: SEC. 3. Authority to issue bonds and certificates to the amount necessary to carry out the provisions of this act is hereby granted; and the Secretary of the Treasury is hereby author-ceeding three and one-half per cent." ized and directed to make suitable rules and regulations to carry this act into effect: Provided, That the expense of preparing, issuing, advertising, and disposing of the bonds and certificates authorized to be issued shall not exceed onequarter of one per centum. "Which shall bear interest at a rate not ex SEC. 4. That the Secretary of the Treasury is hereby authorized, if in his opinion it shall become necessary, to use not exceeding fifty million dollars of the standard gold and silver coin in the Treasury in the redemption of the five and six per cent. bonds of the United States authorized to be refunded by the provisions of this act; and he may at any time apply the surplus money in the Treasury not otherwise appropriated, or so much thereof as he may consider proper, to the purchase or redemption of United States bonds or certificates: Provided, That the bonds and certificates so purchased or redeemed shall constitute no part of the sinking fund, but shall be canceled. SEC. 5. From and after the first day of May, eighteen hundred and eighty-one, the three per centum bonds authorized by the first section of this act shall be the only bonds receivable as security for national bank circulation, or as security for the safe keeping and prompt payment of the public money deposited with such banks; but when any such bonds deposited for the purposes aforesaid shall be designated for purchase or redemption by the Secretary of the Treasury, the banking association depositing the same shall have the right to substitute other issues of the bonds of the United States in lieu thereof: Provided, That no bond upon which interest has ceased shall be accepted or shall be continued on deposit as security for circulation or for the safe keeping of the public money; and in case bonds so deposited shall not be withdrawn, as provided by law, within thirty days after interest has ceased thereon, the banking association depositing the same shall be subject Which was disagreed to-yeas 12, nays 45: YEAS-Messrs. Anthony, Baldwin, Cameron of Wisconsin, Ferry, Groome, Hoar, Kirkwood, McMillan, Morrill, Paddock, Pendleton, Windom-12. NAYS-Messrs. Allison, Bayard, Beck, Blair, Booth, Brown, Bruce, Burnside, Butler, Call, Cockrell, Coke, DAVIS of Illinois, Davis of W. Virginia, Farley, Garland, Grover, Hampton, Harris, Hereford, Hill of Colorado, Hill of Georgia, Ingalls, Johnston, Jonas, Kellogg, Kernan, Lamar, Logan, McDonald, McPherson, Maxey, Morgan, Platt, Plumb, Pugh, Rollins, Saulsbury, Slater, Teller, Vance, Vest, Voorhees, Walker, Williams—45. The amendment of the Finance Committee to make the rate of interest of the bonds "three and one-half per cent.," was disagreed to—yeas 22, nays 34: YEAS-Messrs. Allison, Anthony, Baldwin, Bayard, Blair, Burnside, Cameron of Wisconsin, DAVIS of Illinois, Ferry, Groome, Hampton, Hill of Colorado, Hoar, Kernan, Kirkwood, Logan, McMillan, Morrill, Paddock, Platt, Rollins, Windom-22. NAYS-Messrs. Beck, Booth, Brown, Call, Cockrell, Coke, Davis of W. Virginia, Eaton, Farley, Garland, Grover, Harris, Hereford, Hill of Georgia, Ingalls, Johnston, Jonas, Kellogg, Lamar, McDonald, McPherson, Maxey, Morgan, Pendleton, Pugh, Saulsbury, Saunders, Slater, Teller, Vance, Vest, Voorhees, Walker, Williams—34. The amendment of the Finance Committee to make the bonds payable "twenty" years from issue, pending Mr. MCPHERSON moved to make the amendment read "thirty" years. Which was disagreed to-yeas 14, nays 43: YEAS Messrs. Booth, Butler, Cockrell, Groome, Grover, Harris, Hill of Georgia, Kel logg, Lamar, McPherson, Paddock, Pugh, Vance, Windom-14. NAYS-Messrs. Allison, Anthony, Baldwin, Bayard, Beck, Blair, Brown, Burnside, Call, Cameron of Wisconsin, Coke, DAVIS of Illinois, Davis of W. Virginia, Farley, Ferry, Garland, Hampton, Hereford, Hill of Colorado, Hoar, Ingalls, Johnston, Jonas, Kernan, Kirkwood, Logan, McDonald, McMillan, Maxey, Morgan, | Morrill, Pendleton, Platt, Plumb, Randolph, Saulsbury, Saunders, Slater, Teller, Vest, Voorhees, Walker, Williams-43. of Wisconsin, Eaton, Ferry, Groome, Hampton, Kernan, Kirkwood, McDonald, McMillan, Morrill, Paddock, Platt, Randolph, Rollins, Saulsbury, Voorhees, Wallace, Windom—26. NAYS-Messrs. Beck, Cockrell, Coke, DAVIS of Illinois, Garland, Harris, Hereford, Ingalls, Jonas. Kellogg, McPherson, Maxey, Morgan, Pendleton, Pugh, Slater, Teller, Vest, Williams-19. The Committee having amended by striking out the fifth section Mr. PLUMB demanded a division of the ques The Committee's amendment was then agreed tion; and that part of the amendment which to, without a division. The amendment to fix the rate of interest on the bonds at "a rate not exceeding three and one-half per cent. per annum," was disagreed to-yeas 21, nays 34: YEAS-Messrs. Allison, Anthony, Baldwin, Bayard, Blair, Burnside, Cameron of Wisconsin, DAVIS of Illinois, Ferry, Groome, Hampton, Hill of Colorado, Hoar, Kernan, Kirkwood, McMillan, Morrill, Paddock, Platt, Rollins, Windom-21. NAYS-Messrs. Beck, Booth, Brown, Call, Cockrell, Coke, Davis of W. Virginia, Eaton, Farley, Garland, Grover, Harris, Hereford, Hill of Georgia, Ingalls, Johnston, Jonas, Kellogg, Lamar, McDonald, McPherson, Maxey, Morgan, Pendleton, Pugh, Saulsbury, Saunders, Slater, Teller, Vance, Vest, Voorhees, Walker, Williams-34. The amendment (to section 3) to limit the expense of preparing, etc., bonds to one-half of one per cent was agreed to-yeas 30, nays 20: YEAS-Messrs. Allison, Anthony, Baldwin, Bayard, Beck, Blair, Burnside, Butler, Call, Cameron of Wisconsin, DAVIS of Illinois, Eaton, Ferry, Hampton, Johnston, Kellogg, Kernan, Kirkwood, Lamar, McMillan, Morrill, Paddock, Platt, Plumb, Rollins, Saulsbury, Saunders, Teller, Voorhees, Windom-30. NAYS-Messrs. Cockrell, Coke, Farley, Garland, Groome, Harris, Hereford, Hill of Georgia, Ingalls, Jonas, McDonald, McPherson, Maxey, Morgan, Pendleton, Pugh, dolph, Slater, Vest, Williams-20. The amendment of the Finance Committee to amend the fourth section by inserting after the word "use" the word "temporarily," and after the word "act" where it first occurs, these words: "Which shall from time to time be repaid and replaced out of the proceeds of the sale of the bonds or Treasury notes authorized by this act," so as to read: proposed to strike out these words: "SEC. 5. From and after the 1st day of May, 1881, the three per cent. bonds authorized by the first section of this act shall be the only bonds receivable as security for national bank circulalation, or as security for the safe keeping and prompt payment of the public money deposited with such banks; but when any such bonds deposited for the purposes aforesaid shall be designated for purchase or redemption by the Secretary of the Treasury, the banking association depositing the same shall have the right to substitute other issues of the bonds of the United States in lieu thereof." Was disagreed to-yeas 19, nays 21: YEAS-Messrs. Allison, Anthony, Bayard, Blair, Burnside, Call, Eaton, Ferry, Groome, Hampton, Kernan, McMillan, McPherson, Morrill, Paddock, Platt, Teller, Wallace, Windom-19. NAYS-Messrs. Beck, Butler, Cockrell, Coke, DAVIS of Illinois, Farley, Garland, Harris, Hereford, Ingalls, Jonas, Lamar, McDonald, Maxey, Morgan, Pendleton, Pugh, Slater, Vest, Voorhees, Williams-21. The remaining portion of the amendment was then disagreed to without a division. The other amendments of the Finance Committee having been agreed to, Mr. KIRKWOOD moved further to amend by adding to the first section the words: 'It shall be the duty of the Secretary of the Ran-Treasury, under such rules and regulations as he may prescribe, to authorize public subscriptions, at not less than par, to be received at all depositories of the United States, and at all national banks, and such other banks as he may designate, for the bonds and for the Treasury notes herein provided for, for thirty days before he shall contract for or award any portion of said bonds or Treasury notes to any syndicate of individuals or bankers, or otherwise than under such public subscriptions; and if it shall happen that more than the entire amount of said bonds and Treasury notes, or of either of them, has been subscribed within said thirty days, he shall award the full amount subscribed to all persons who shall have made bona fide subscriptions for the sum of two thousand dollars or less, at rates most advantageous to the United States, and the residue ratably among the subscribers in proportion to the amount by them respectively subscribed, at rates most advantageous to the United States." "That the Secretary of the Treasury is hereby authorized, if in his opinion it shall become necessary, to use temporarily not exceeding $50,000,000 of the standard gold and silver coin in the Treasury in the redemption of the five and six per cent. bonds of the United States authorized to be refunded by the provisions of this act, which shall from time to time be repaid and replaced out of the proceeds of the sale of the bonds or Treasury notes authorized by this act." Was agreed to-yeas 26, nays 19: YEAS-Messrs. Allison, Anthony, Baldwin, Bayard, Blair, Burnside, Butler, Call, Cameron Mr. ALLISON moved the following as a sub. stitute for the above: |