Daily Iowa State Democrat. [volume] (Davenport, Iowa) 1856-1859, 1857-12-22
DAVENPORT IOWA, TUESDAY MORNING, DECEMBER a. 1851

~ millions # shinplas'ers. he was however.
willing TO vote for it, If il could be reduced
so a. TO provide only for the raising OF 90
much money as was Immediately wanted
he wished to prevent the circulation Vi
these notes as bank notes
The bill was amended limiting the opera
tion Of the act until the first of January
1856, and prohibiting notes Of a less dehom-
nation than 100 dollars and then passed by
81 against ID, as follows
Yeas-Messrs Allen, Bayarj, Biggs, BIZ,
ler Brown, Clay. Crittenden, Douglas.
Evans, Fitch, Fitzpatrick, toote, Green,
Hale, Hunter, Iyerson, johnson Of Ark,
Jones. Kennedy. Mallory, Mason, Pearee,
Polk. Reid, Sebastian, Seward stewart,
Thompson Of NJ j., Wilson and Wright.
Nays-Messrs. Bell, Brodie, Chandler,
Chandler, Clark, Clark, Colamer, Davis,
Dixon. Doolittle, Durkee, Fes-enden, iIam,l-
ten, Harlan. johnson of Tenn, King, Pugh,
Simmons, Irumbull and Wade.
A. half-past six the Senate adjourned
Hor-E-The House resumed cou=idera-
tiot. of Mr.. Bennett's resolution providing
for tie appointment of special committee
to take into consideration all papers on the
suhjec, Of railroad to the Pacific.
| tion to table the resolution Votes oi to
9s.
several incidental questions were deter
mined hy yeas and nays
The subject was then passed over, and
the House went into committee on the
Treasury Note Bill Mr. ] G Jones explain
ed tie provisions Of the bill which he said
were similar to t.iose heretofore passed TN
der both Whig and Democratic adninistra,
tons; he would endea,or to get note Oh
it to-day.
Slr Rltehie called attention to the fact
that there were two set of Denociat at, one
theoretical, who vii! lave nothing bat gold
and silver, and the oiher practical, who
would have anything they en- get-now
as. for treasury notes.
Mr Bauhs remarked that statesmen Al al
times had asserted nat tile resort u t,cas-
ury notes was OF doubtful eApcdiency and
dangerous in principle, and should never
be adopted il any other measure Of relief
could be obtained. /, IS not true that the
government could not obtain relief except
through treasury notes There never was
a period in which a loan could be effected
either for large or small sums, for short or
/ long time, better than now ~ the country
is richer than il ever has been before lie
wished tie bi,l amended authorizing the
issue oi treasury notes only in case it shall
he found imprayticatle 10 effect a loan Oh
government stock bearing i per cent. inter
est, the aggregate sum borrowed not exceed
ing 20 00e, 500. circumstances are differ
ent now than they were when tie note bill
OF SO Was passed; there was thei. war
with Mexico.
Sir. Cobb Gnterrurringl Reminded
him that there was prospect of a war with
the Mormon.
Mr. Banks replied that there was here a
Representative from | tab with the same
standing that Cobb has, and there it could
not be said that We are At war with Utah,
I hu, there was prospect OF war in another
direction, from which the Administration
coalI be relieved by the issue q treasury
notes
Mr Wilson argued that Congress ought to
prefer 10 supply the pui lie necessities hy
treasury notes rather .han lv loan, ha. al
this time when threatened by deficiency
III Revenue, il Is import IL that the pub
lie ct,.i. should be maintained
Mr. Bishop supported tie LII Oh the
ground that the noies would 20 into eireula.
iron aud be Lsei as a medium of exchange.
1t woald meet the necessities If tie govern
ment ana benefit the business of the country.
which il lot in as prosE erous a condition u
/ the banks describe. II NAV letrne there
is more money than ever in the Treasury.
hut it Is not available. He Mr.. Bishop
would he CAD if tie gentlemen from Ma. al
chusetts would point ont where it might be
I found
Mr. Davis Of Maryland, opposed the Ill.
There was no period fixed when tie notes
can be presented Tor redemption. and they
wou.1 therefore, continue in circulation a.
ir,leemalle currency, based on the fact Of
! the goyeInr.ent The Ell king down Of
banks il the country Icing recomm,nled
by tie President Message ii may be that
the issue ef S2e.eoo,eoo Of treasury notes
is designed to fill void The dominant
1 paris mean to make and substitute tie ia
per Of the treasury for the aper Of The
arhs.
laThe committee then arose and the House
adjourned.