The Express.
London, England, 1862-01-20 00:00:00

DEBATEf3 IN CONGRESS.

In the Senate, on the 7th, petitions in favour of
emancipation were presented. A bill for increasing
the number of cadets at West Point was reported.
In the House of Representatives a message was
received from the President, with documents rela-
tive to the Trent affair. Mr. Vallandigham, of
Ohio, expressed his dissatisfaction at the delivering
up of Mason and Slidell; and predicted war with
England in leas than throe months, or else a tame
submission to a recognition of the Southern Con-
federacy, and the breaking of the blockade. Mr.
Hutchins, of Ohio, replied, saying that his col-
league had heretofore been opposed to ooercing the
South, but is now against the delivering up of
Mason and Slidell. The position of his colleague
rendered him liable to the suspicion that his bellige-
rent attitude was one which would benefit the rebels
by getting up a war which the South desired with
that view. Mr. Thomas, of Massachusetts, said it
was too much to assume that the country could
take another war on its hands, and we must there-
fore wait. But we are not called upon to say that
the conduct of England was manly and just. It
was unmanly and unjust. He denied that in
capturing Mason and Slidell an insult to the
British flag, or a violation of international law, was
intended. He argued that we had a right to do
what was done on that occasion. England has
done to us a grevious wrong in demanding Mason
and Slidell. It was insolent in spirit and unjust.

England is treasuring up for herself wrath against
the day of wrath, and has placed in the 'Warta of"
our people a deep sense of wrong at a time when we
cannot respond. But we shall be watching to strike
the blow of righteous retribution.
!ti the course of another debate, Mr. Wright, of
Pennsylvania, thought, if Mason and Slidell were
to be surrendered, it should have been done under
protest, and we should remember this as a question
to be hereafter settled with England. In the course
of a colloquy Mr. Vallandigham asked Mr. Wright
if he was in favour of a war with England if she
should break the blockade? Mr. Wright replied
that he was, or with any other power, for we would
thereby be placed in a position from which
we could not escape. A long debate ensued,
mainly devoted to the discussion of the rendition
of MAIM and Slidell. Mr. Kelly, of Pennsyl-
vania, in the course of some remarks, said that
we are carrying on a war upon peace principles, the
main duty performed during the last seven months
being to prevent desertions from the enemy. Let
us show something of the vigour of war. England
does not regard international laws, but does regard
power. Let the boom of cannon and the rattle of
musketry be heard. Let England hear the shouts of
the victors blending with the groans of the dying,
and then there will be no trouble about a foreign
war. So long as our armies are acting as policemen
to prevent the escape of those who would dig our
trenches, so long will foreign nations depreciate
our power, and to the same extent elevate their
pretensions and demands.
FINANCE.

The bill matured by the Committee of Ways and
Means, authorising the issue of demand treasury
notes, provides that for temporary purposes the
Secretary of the Treasury be authorised to issue on
the credit of the United States one hundred mil-
lions of them, not bearing interest, payable gene-
rally, without specifying any time or place of pay-
ment, and of such denominations, not lees than
five dollars each, as he may deem expedient, and
such notes and all other treasury notes payable on
demand and not bearing interest that have been
heretofore authorised to be issued, shall be receive-
' ble for all debts and demands due to
the United State*, and fur all salaries,
dues, debts, and demands owing by the United
States to individuals, corporations, and associations
within the United States, and shall also be lawful
money and a legal tender in payment of all debts
public and private, and shall be exchangeable in
sums not less than one hundred dollars at any time,
at their par value, at the treasury of the United
States, and at the offices of the assistant treasurers
in New York, Boston, and St. Louis, and at the de-
pository in Cincinnati for any of the six per cant.
coupon bonds or registered, which the Secretary of
the Treasury is now or may hereafter be authorised
to issue, and such treasury notes shall be received
the same as coin at their par value in payment of
any bonds that may be hereafter negotiated by the
Secretary of the Treasury, and such treasury notes
may be issued from time to time as the exigencies
of the public service may require. There shall be
printed on the back of the treasury notes which
may be issued under the provisions of this act, the
following words :—" The within note is a legal
tender in payment of all debts, public and private,
and is exchangeable for the coupons or registered
bonds, or the United States, bearing six per oast
interest."

On the 3rd an exchange of 239 prisoners look place
near Shipping Point on the James Rine. The