WASHINGTON, February 12.
SENATE. – Mr. Sherman objected to amendment of the treasury note bill, providing for deposit, as it would tend to prevent exchange into bonds, and do great harm.
Mr. King, moved to reduce the percentage to one per cent. Rejected.
The amendment providing for a deposit at five per cent was rejected.
The amendment setting apart the proceeds of the public lands, confiscated property and duties on imports, for the interest of the debt in bonds and notes, and for a sinking fund, was adopted.
Several other verbal amendments of the committee were adopted.
Mr. Fessenden moved to amend the first section, so as to make the bonds redeemable at pleasure in five years instead of twenty, and payable in twenty years.
Mr. Sherman Opposed the amendment as tending to depreciate [the] character of the bonds.
Mr. Fessenden said the amendment was to prevent paying to high interest for a long number of years.
Mr. Chandler said there was no time since the first of November that the war could not be closed in sixty days. Only one obstacle stood in the way for four months, which Congress could remove to-morrow. He believed the order “forward” would be given and the war closed by the first day of May.
A messages was received from the House, saying that it disagreed with the Senate’s amendment to the civil and miscellaneous appropriation bill.
The Treasury note bill was taken up. The question was on Mr. Fessenden’s amendment, to make the bonds redeemable after five years or at the pleasure of the U. S. which amendment was withdrawn.
Mr. Collamer moved to strike out that portion of the bill which makes the notes a legal tender for private debts.
Mr. Wilson apposed the amendment. He considered it unjust to place all this money in the hands of the soldiers and employees of the Government, forcing them to take it, and then not to protect it after it was in their hands.
HOUSE. – The House proceeded to the consideration of the joint resolution, reported by Mr. Holman from the committee on government contracts, authorizing the Secretary of War to pay the Hannibal and St. Joe and Pacific railroad companies for the transportation of troops and munitions of war, but at rates not greater than those required from private individuals. Congress, in granting lands to these roads, reserved the right to transmit troops, &c., free of charge. Without waiving this principle, it is proposed to compensate them on the ground that their ability has been greatly impaired by the rebellion, destruction of their bridges, &c.
– Published in The Davenport Daily Gazette, Davenport, Iowa, Friday Morning, February 14, 1862, p. 1
SENATE. – Mr. Sherman objected to amendment of the treasury note bill, providing for deposit, as it would tend to prevent exchange into bonds, and do great harm.
Mr. King, moved to reduce the percentage to one per cent. Rejected.
The amendment providing for a deposit at five per cent was rejected.
The amendment setting apart the proceeds of the public lands, confiscated property and duties on imports, for the interest of the debt in bonds and notes, and for a sinking fund, was adopted.
Several other verbal amendments of the committee were adopted.
Mr. Fessenden moved to amend the first section, so as to make the bonds redeemable at pleasure in five years instead of twenty, and payable in twenty years.
Mr. Sherman Opposed the amendment as tending to depreciate [the] character of the bonds.
Mr. Fessenden said the amendment was to prevent paying to high interest for a long number of years.
Mr. Chandler said there was no time since the first of November that the war could not be closed in sixty days. Only one obstacle stood in the way for four months, which Congress could remove to-morrow. He believed the order “forward” would be given and the war closed by the first day of May.
A messages was received from the House, saying that it disagreed with the Senate’s amendment to the civil and miscellaneous appropriation bill.
The Treasury note bill was taken up. The question was on Mr. Fessenden’s amendment, to make the bonds redeemable after five years or at the pleasure of the U. S. which amendment was withdrawn.
Mr. Collamer moved to strike out that portion of the bill which makes the notes a legal tender for private debts.
Mr. Wilson apposed the amendment. He considered it unjust to place all this money in the hands of the soldiers and employees of the Government, forcing them to take it, and then not to protect it after it was in their hands.
HOUSE. – The House proceeded to the consideration of the joint resolution, reported by Mr. Holman from the committee on government contracts, authorizing the Secretary of War to pay the Hannibal and St. Joe and Pacific railroad companies for the transportation of troops and munitions of war, but at rates not greater than those required from private individuals. Congress, in granting lands to these roads, reserved the right to transmit troops, &c., free of charge. Without waiving this principle, it is proposed to compensate them on the ground that their ability has been greatly impaired by the rebellion, destruction of their bridges, &c.
– Published in The Davenport Daily Gazette, Davenport, Iowa, Friday Morning, February 14, 1862, p. 1
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