The daily union. [volume] (Washington [D.C.]) 1845-1857, 1857-01-17

OF from one TO orty-three years. according TO the durs
ton of their lives. confess that my conscience 10
not tender enough TO appreciate TINS mora oonsa ,
ton confess that my moral perceptions are not
Keen enough 10 discover it. ! have assimated ~
Ike nv friend from Ohio lMr. PueHl to an individual
case and borrowing the ron nnn WI
wears after date with interest for which give MN my
mote or my bond and suppose before the expiration OF
that period my credit declines my solvency IS doubted
and my paper sinks eighty per cent the dollar and ne
dsposts of il TO for twenty cents In the dollar ana
sells il after awhile for fifteen cents in the dollar 70
for ten in the dollar in whose hands md H. ana
ultimately redeem il by paying the entire amount of prin
cipal and interest With what grace, with what hones
pretence could my friend come TO me and demand that
should nav him his oss-tha should pay him eighty per
cent on the original which be had sunk in the trans
er2 II there was moral obligation resting on me to pay
him this eighty per cent by parity OF reasoning ought not
to pay the losses Of all the intermediate holders oho
not pay the five per cent which he lost and the hve
per cent to which he ostf And thus should DC re-
quired pay ninety per cent more than was stipulated
That is the result Of the reasoning of gentlemen who con-
tend for moral obligation to lquidate this claim
No government ON earth has held itself bound to
do what the advocates of this bill maintain we are bound
10 do-pay losses upon It's stock during our last war
with England if correctly informed the stock OF the
deprecated forty per cent but 1t was never
proposed any Congress, that the government should
paw their loss of sixty per cent to the stockholders IL
was never asked by any of the stockholders At this day
the Of Of States has deprecated below par
But few years since they had deprecated to forty cents
on the dollar in cases. according to my reco-
lection Such proposition that which is now pre-
scented was entertained by any State legislature and
was proposed No stakeholder had the unbush
ing mpudence and audacy to demand indemnity for his
loss such stock.
Now wish to bring the attention of the Senate to what
has not advered before and that the enormous
amount which will be realized may be realized, under
this bill by Individuals have taken some pains to make
calculations of the which may be realized by the
survivors of the Sd of March, 1885, the period when this
halfpay ceases Let il be borne in mind that the only
Limitation in this bill to the pay of an officer his hall
pay In previous hapay bills, there has been some lin
ation below the highest grade of officers for instance In
one the hafpay not TO exceed the halpay ola lieu
tenant colonel and by the of 1918 the haray was
not exceed the halpay Off captain of infantry But
this has limitation other than the hapay of the oihcer
and hence from msjor general down TO an ensign they
will realize the various amounts of hapay which would
accrue If they survived the year 1898.
have made calculation TO ascertain the sums that may
be paid under this bill pedcaed upon the resolves o
Congress June l6 l775 and May ~ IT'S fixing the
of army officers will exhibit tabular statement, show
ing the that paid Communication ap to 1913
what the officer his widow, child or grsndchild would
be entitled up $685. if he survived the period Gov
cred by the communications fifteen years. the average pero
OF survivorship according the opinion of the Comm
sioner of Pensions) and what the officer his widow
child or granebd would be entitled TO if he survived
1926 The three periods 1893, 1903, and 1926