Withdrawal of National-bank Currency.

Mr. Cobb also introduced a bill (H.R. No. 435) providing for the withdrawal of the national-bank currency and the issuing of non-interest-bearing Treasury notes to the amount of $500,000,000 to supply the place of said national-bank currency, making said Treasury notes a legal tender for all sums public and private, except where by the terms of the contract it is expressly provided otherwise, and repealing the third section of the act of Congress entitled "An act to provide for the resumption of specie payments," approved January 14, 1875, and providing for the coinage of gold and silver bullion, and fixing the standard thereof, and making all silver coin of the same standard a legal tender;  which was read a first and second time, referred to the Committee on Banking and Currency, when appointed, and ordered to be printed.

Mr. Bland.  I move that the rules be suspended so that the House may now pass a bill to authorize the coinage of a dollar of 412½ grains silver standard, and for other purposes. [Laughter.]

Mr. Atkins.  I move that the House now adjourn.

Mr. Sampson.  I rise to a question of order.  The resolution which was adopted this morning on motion of the gentleman from Kentucky [Mr. Durham] required that the call of States should be proceeded with nuder Rule 130.  That rule requires that the States shall be called for resolutions after the call has been completed for the introduction of bills for reference.  My point of order is that the States must now be called for resolutions.

The Speaker.  The Chair thinks that point is not well taken.

Mr. Springer.  If the House now adjourns will the proposition of the gentleman from Missouri [Mr. Bland] come up as unfinished business on Wednesday next ?

The Speaker.  The motion of the gentleman from Missouri is to suspend the rules and pass the bill the title of which has been stated to the House;  of course it will not come up as unfinished business on Wednesday.

Mr. Springer.  Then I hope the House will not now adjourn.

The question was taken upon the motion to adjourn;  and upon a division there were--- ayes 161, noes 39.

Before the result of this vote was announced, Mr. Bland called for the yeas and nays on the motion to adjourn.

The question was taken upon ordering the yeas and nays;  and upon a division there were--- ayes 26, noes 164;  not one-fifth voting in the affirmative.

Before the result of this vote was announced, Mr. Bland called for tellers on ordering the yeas and nays.

The question was taken upon ordering tellers, and there were 26 in the affirmative;  not one-fifth of a quorum.

So tellers were not ordered, the yeas and nays were not ordered, and the House accordingly (at five o'clock and forty minutes p.m.) adjourned until Wednesday next.

Silver-Dollar Coinage.

Mr. Bland.  I now insist upon the regular order.

The Speaker.  The regular order is the motion of the gentleman from Missouri, [Mr. Bland,] coming over from Monday last, to suspend the rules so as to enable him to introduce and the House to pass a bill to authorize the free coinage of the standard silver dollar and to restore its legal-tender character.  The bill will be read.

The bill was read.

The first section provides that there shall be coined at the several mints of the United States the silver dollar of the weight of 412½ grains troy of standard silver, as provided in the act of January 18, 1837, on which shall be the devices and superscriptions provided by said act;  which coins, together with all silver dollars heretofore coined by the United States of like weight and fineness, shall be a legal tender at their nominal value for all debts and dues, public and private, except where otherwise provided by contract;  and any owner of silver bullion may deposit the same in any United States coinage mint or assay office to be coined into such dollars for his benefit upon the same terms and conditions as gold bullion is deposited for coinage under existing law.

Section 2 provides for repealing all acts and parts of acts inconsistent with the provisions of the act.

Mr. Reagan.  I would ask the gentleman from Missouri if be will consent to an amendment.

The Speaker.  Amendments are not in order pending a motion to suspend the rules.

Mr. Bland.  This is the bill which passed the House last winter--

Mr. Mills.  I object to debate.

The Speaker.  Neither debate nor amendment is in order.

Mr. Eames.  I ask unanimous consent of the House to ask the gentleman from Missouri a question.

The Speaker.  Objection is made to debate.

Mr. Mills.  I have no objection to a question being asked.

Mr. Eames.  I desire to ask the gentleman from Missouri in the presence of the House whether this bill authorizes the coinage of silver bullion at the expense of the Government.

Mr. Bland.  This bill, as I stated just now, is substantially the one that passed last winter with free coinage, and is recommended by the committee of which I believe the gentleman from Rhode Island [Mr. Eames] is a member.

Mr. Kelley.  Is debate in order ?

The Speaker.  It is not.

Mr. Kelley.  I object to debate.

Mr. Eames.  I ask unanimous consent.

Mr. Kelley.  I object.

Mr. Eames.  Will the gentleman allow a proposition to be read to the House ?

Mr. Kelley.  I object to any debate and call for the regular order.

Mr. Eames.  I do not ask for debate.

Mr. Cox, of New York.  Let the bill be again read.

Mr. Reagan.  If the gentleman from Missouri [Mr. Bland] will listen to me, I think he will consent to take the sense of the House upon a single point.  I desire to offer an amendment, to strike out "412½ grains" and to insert "399.9 grains," so as to make it the same as the French standard and that adopted by the Latin monetary union.

The Speaker.  The Chair cannot entertain any proposition or amendment, pending a motion to suspend the rules.  The gentleman from Missouri [Mr. Bland] can accept the amendment.

Mr. Bland.  I call for the regular order.

Mr. Cox, of New York.  Let the bill be again read.

The bill was again read.

Mr. Hardenbergh.  I move that the House now adjourn.

The motion was not agreed to.

Mr. Bland.  I call for the yeas and nays on my motion to suspend the rules.

Mr. Hunter.  I desire to ask the gentleman one question.

Mr. Kelley.  I object to any question.

The yeas and nays were ordered.

Mr. Conger.  I would inquire of the Chair if this motion includes the passage of the bill, or is it simply a motion to bring the bill before the House for consideration ?

The Speaker.  It includes both.

Mr. Durham.  I would like to hear the bill again read.  I was necessarily detained from the House until this moment.

The Speaker.  That requires unanimous consent.  Is there objection to the bill being read again ?

Mr. Patterson.  Yes;  it has been read twice already.

The Speaker.  Objection is made, and the Clerk will proceed to call the roll.

The question was taken;  and there were--- yeas 163, nays 34, not voting 93;  as follows:

Yeas--- Messrs. Aldrich, Atkins, John H. Baker, Banning, Boll, Bicknell, Bland, Blount, Boone, Bouck, Brentano, Bridge, Brogden, Browne, Buckner, Bundy, Burclick, Cabell, Cain, John W. Caldwell, W.P. Caldwell, Calkins, Candler, Cannon, Carlisle, Caswell, Chalmers, John B. Clarke of Kentucky, John B. Clark, jr., of Missouri, Rush Clark, Conger, Cook, Jacob D. Cox, Samuel S. Cox, Cravens, Crittenden, Culberson, Cummings, Cutler, Danford, Darrall, Joseph J. Davis, Deering, Dibrell, Dickey, Dummell, Eden, Elam, Ellis, Ellsworth, John H. Evins, Ewing, Felton, Finley, Forney, Foster, Franklin, Fuller, Gardner, Garth, Giddings, Glover, Goode, Hamilton, Henry R. Harris, Harrison, Hartridge, Hartzell, Haskell, Hatcher, Hayes, Hazelton, Henderson, Herbert, Goldsmith W. Hewitt, Hooker, House, Hubbell, Humphrey, Hunter, Hunton, Ittner, James Taylor Jones, John S. Jones, Keifer, Keightley, Kelley, Kenna, Knapp, Knott, Lathrop, Ligon, Luttrell, Lynde, Mackey, Maish, Manning, Marsh, Martin, McKenzie. McKinley, McMahon, Mills, Money, Monroe, Morgan, Morrison, Muldrow, Neal, Oliver, Pacheco, Page, Patterson, Phillips, Pollard, Pound, Price, Pridemore, Rainey, Randolph, Rea, Reagan, Americus V. Rice, Riddle, Robbins, Robertson, Milton Robinson, Sampson, Sapp, Sayler, Scales, Sexton, Shelley, Singleton, Slemons, William E. Smith, Sparks, Springer, Steele, Stewart, John W. Stone, Joseph C. Stone, Strait, Thornburgh, Throckmorton, Tipton, Amos Townsend, Richard Townshend, Turner, Vance, Van Vorhes, Walldell, Welch, Michael D. White, Willets, Charles G. Williams, Jere N. Williams, Richard Williams, Albert S. Willis, Wren, Wright, Yeates, and Young ---163.

Nays--- Messrs. Bacon, Ballou, Blair, Brewer, Briggs, Chittenden, Claflin, Cole, Covert, Horace Davis, Denison, Eames, Field, Frye, Gibson, Hardenbergh, Hart, Hendee, Abram Hewitt, Joyce, Leonard, Lindsey, McGowan, Morse, Norcross, Peddle, Powers, Reed, William W. Rice, Schleicher, Stephens, Swann, Ward, and Wood ---34.

Not Voting--- Messrs. Aiken, Bagley, William H. Baker, Banks, Bayne, Beebe, Benedict, Bisbee, Blackburn, Bliss, Boyd, Bragg, Bright, Burchard, Butler, Camp, Campbell, Alvah A. Clark, Clymer, Cobb, Coffins, Crapo, Davidson, Douglas J. Durham, Dwight, Eickhorn, Errett, Newton Evans, James L. Evans, Fort, Freeman, Garfield, Gause, Gunter, Hale, Hanna, Harmer, Benjamin W. Harris, John T. Harris, Henkle, Henry, Hiscock, Hungerford, James, Frank Jones, Jorgensen, Ketcham, Killinger, Kimmel, Lauders, Lapham, Lockwood, Loring, Mayham, McCook, Mitchell, Muller, O'Neill, Overton, Phelps, Potter, Pugh, Quinn, Reilly, Roberts, George D. Robinson, Ross, Ryan, Shallenberger, Sinnickson, Smalls, Herr Smith, Southard, Starin, Stenger, Thompson, Martin Townsend, Tucker, Turney, Veeder, Wait, Walker, Walsh, Warner, Watson, Harry White, Whitthorne, Alphens Williams, Andrew Williams, James Williams, Benjamin Willis, and Wilson ---93.

So (two-thirds voting in favor thereof) the rules were suspended and the bill (H R. No. 1093) was passed.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
That there shall be coined at the several mints of the United States, silver dollars of the weight of 412½ grains troy of standard silver, as provided in the act of January 18, 1837, on which shall be the devices and superscriptions provided by said act;  which coins, together with all silver dollars heretofore coined by the United States of like weight and fineness, and shall be a legal tender, at their nominal value, for all debts and dues, public and private, except where otherwise provided by contract;  and any owner of silver bullion may deposit the same at any United States coinage mint or assay office, to be coined into such dollars, for his benefit, upon the same terms and conditions as gold bullion is deposited for coinage under existing laws.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Secretary of the Treasury is hereby directed to purchase, from time to time, silver bullion to the aggregate amount of four million five hundred thousand ounces, or so much thereof as may be offered in each month, at the market price thereof, not exceeding one dollar for three hundred and seventy-one and twenty-five hundredths [371¼] grains of pure silver, and to issue in payment for such purchases of silver bullion Treasury notes of the United States to be prepared by the Secretary of the Treasury, in such form and of such denominations, not less than one dollar nor more than one thousand dollars, as he may prescribe, and a sum sufficient to carry into effect the provisions of this act is hereby appropriated out of any money in the Treasury not otherwise appropriated.

Sec. 2.  That the Treasury notes issued in accordance with the provisions of this act shall be redeemable on demand, in coin, at the Treasury of the United States or at the office of any assistant treasurer of the United States, and when so redeemed may be reissued;  but no greater or less amount of such notes shall be outstanding at any time than the cost of the silver bullion and the standard silver dollars coined therefrom, then held in the Treasury purchased by such notes;  and such Treasury notes shall be a legal tender in payment of all debts, public and private, except where otherwise expressly stipulated in the contract, and shall be receivable for customs, taxes, and all public dues, and when so received may be reissued;  and such notes, when held by any national banking association, may be counted as a part of its lawful reserve.  That upon demand of the holder of any of the Treasury notes herein provided for the Secretary of the Treasury shall, under such regulations as he may prescribe, redeem such notes in gold or silver coin, at his discretion, it being the established policy of the United States to maintain the two metals on a parity with each other upon the present legal ratio, or such ratio as may be provided by law.

Sec. 3.  That the Secretary of the Treasury shall each month coin two million ounces of the silver bullion purchased under the provisions of this act into standard silver dollars until the first day of July eighteen hundred and ninety-one, and after that time he shall coin of the silver bullion purchased under the provisions of this act as much as may be necessary to provide for the redemption of the Treasury notes herein provided for, and any gain or seigniorage arising from such coinage shall be accounted for and paid into the Treasury.

Sec. 4.  That the silver bullion purchased under the provisions of this act shall be subject to the requirements of existing law and the regulations of the mint service governing the methods of determining the amount of pure silver contained, and the amount of charges or deductions, if any, to be made.

Sec. 5.  That so much of the act of February twenty-eighth, eighteen hundred and seventy-eight, entitled "An act to authorize the coinage of the standard silver dollar and to restore its legal-tender character," as requires the monthly purchase and coinage of the same into silver dollars of not less than two million dollars, nor more than four million dollars' worth of silver bullion, is hereby repealed.

Sec. 6.  That upon the passage of this act the balances standing with the Treasurer of the United States to the respective credits of national banks for deposits made to redeem the circulating notes of such banks, and all deposits thereafter received for like purpose, shall be covered into the Treasury as a miscellaneous receipt, and the Treasury of the United States shall redeem from the general cash in the Treasury the circulating notes of said banks which may come into his possession subject to redemption;  and upon the certificate of the Comptroller of the Currency that such notes have been received by him and that they have been destroyed and that no new notes will be issued in their place, reimbursement of their amount shall be made to the Treasurer, under such regulations as the Secretary of the Treasury may prescribe, from an appropriation hereby created, to be known as "National bank notes: Redemption account," but the provisions of this act shall not apply to the deposits received under section three of the act of June twentieth, eighteen hundred and seventy-four, requiring every National bank to keep in lawful money with the Treasurer of the United States a sum equal to five per centum of its circulation, to be held and used for the redemption of its circulating notes;  and the balance remaining of the deposits so covered shall, at the close of each month, be reported on the monthly public debt statement as debt of the United States bearing no interest.

Sec. 7.  That this act shall take effect thirty days from and after its passage.