Constantine republican. [volume] (Constantine, Mich.) 1836-1838, 1837-10-04
CONGRESSIONAL.
IN SENATE.
Mondau SEPT. Is. 1897.

~. Monday Sept. 10, 1897.
Mr.. RyEs gave notice that he should to-
morrow ask leave to Introduce bill TO de-
signate the funds in which the revenue
shall be received.
TREASURY NOTES
The Bill to authorize the issue of Treas
AIRY notes was taken up for consider alton.
Mr.. CALHOUN concluded a speech of
great length, and embracing wide range
of argument and illustration, BY reading
an amendment, the object of which, he said
was 10 produce agradual reform. The
substance of it is stated as follows
After the first Of January next, three
fourihs The public dues may be paid in
the notes Of :, G, paying banks; after the
LIST Of January, 1889, one-hali'; and after
the lst Of January, 1910. fourth and
after that tie whole revenue of The govern
lnent shall be collected in the constitution
al currency-gold and siIver--or- such
NOES and such bills or paper issued under
the government, as the laws shall authorize
TO be issued.
The question on this amendment Mr.. C..
o"'ib, "OdIh tSob luO vi liit
administration. 1t could be carried if the
administration chose--if they opposed it,
he new his course. He did not wish it to
pass if they did not support i.--for he was
unwilling 10 entrust il to hands that would
not be disposed TO carry it into execution.
MIR. WEBSTER asked to what bill this a
mendment was offered.
L., Il al II
bill which separates the government and
The banks.
Mr.. BENTON moved the bills which he
offered three years ago, as an amendment,
and moved the printing, which was agreed
10.
TIE bill was then reported tothe Senate,
the amendments filling the blanks were a.
greed TO, anu The question being on the en-
grossment OF the bill.
MIR. BENTON made some remarks, in
which he gave his view of the influences and
increase 0, bink,. He stated that the gov.
ernment would be able to turn these notes
into hard money, before they went into cir
culoton, so that they could not be regarded
as pap currency. There was four tim S
as much 5, ccIe IN the country as Their,
was IN 1916, and not one 1.-THE of the distress
which then existed. He wished to vindi.
cate the bl ffotn the Oh racter of paper
money bill. He was opposed to the issue
OF Treasury NOES in time Of peace, and he
wonld not have voted for it. but that it plr.
took OF the character of ioln, and could
b. reimbursed oat ofthe means of'he Treas
ury in short time.
Mr.. NILES asked for the yeas and nays
on the engrossment of the bill, and they
were ordered.
Mr.. WALKER moved to strike out all of
the bill which relates TO interest on the
Treasury notes. If they were to bear
interest, they would be Immediately substi.
tutcd for the cotton of the south as mcdi.
um ofremittance TO foreign countries.
Mr.. WRIGHT hoped that the motion
would not prevail. He disclaimed any de-
sign to compel the public creditor TO take
Treasury noes as an equivalent for gold
and silver. He believed that the co,ntry
would not bear an emission of ten millions
without interest without depressing the
notes in the market. lie hoped the bill
would be pormicd to pass in its present
safe, TO undergo trial for few month !,
wlon the Congress would again be Ia
session, and could remedy any inconyen.
lence.
Mr.. KING Of Georgia. referred to the
fact that our protested Treasury drafts
were equal to specie for some purposes.
but not for currency. So in reference TO
the Treasury bills, every man will asI; him.
selfiflhey are worth specicl He did no.
fear that our paper notes woud ny any
mere 10 Europe. He opposed the idea thai
in the expectation of these notes the inter-
est OF the Gotten planter would be iniur.
cd. He hoped the amendment would not
prevail.
Mr.. WALKER said The crop Of cotton was
now about TO be picked and sent out to
Europe, and to put adoat at this mome'i
ana paper issues, which could be substitu-
ted for cotton, would he to shut out the sta
pie OF the south as an export. He modified
his motion so as TO reduce the interest TO
three per centum.
Mr.. WEBSTER said the interest was ad-
ded to the bonds issued by the Bank Of
the U. s., to give them currency in Eu-
rope.
Mr.. CALHOUN expressed wish that dis
erection should be left with the Secretary to
make the notes bear interest or not.
Mr.. KING of Ga. doubted the practi.
cabiIity OF getting these notes into crcula-
ZION.
Mr. BENTON asked for the yeas and nays
on the amendment, and they were taken.
Ncgativcd; yeas 6, nays 40.
The question was then taken on the en-.
grossment of the bill, and decided in The af.
trmative; yeas az, nays 5, as follows:
Yeds--Msssrs. Allen, Bayard. Benton,
Black, Brown, Buchanan, Calhoun. Cay of
Ala, Clayton, Fulton, Grundy, Hubbard
Kent, King of Ala, King Of Geo, Knight,
Lyon, Mexican, Morris, Nicholas, Niles,
Norvell, Pierce, Rives, Roane, Robbins,
Robson, Ruggles, Sewer, Smith of Conn,
Smith of lad, Strange, Swift, Tallmadge,
rpIon, Walker, Wall, Webster, Wine,
Williams, Wright, Young--42.
Nays-Mossrs. Clay KY, Critiendon,
Preston, SouIhard, Spence--5.
DUTY. BONDS BILL.
The Senate then proceeded to consid.
or the bill to extend the time for the pay
ment of duty.bonds.
Mr. WEBSTER did not think the time
named. six months. would be suiiicent.-
lie moved to strike out six and insert nine.