The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-12-20
House OF Representatives.


WASHINGTON, Dec. 10, 1857.
PACIFIC RAILROAD
The House resumed the consideration OF Mr. BENEFITS
resolution providing for the appointment of q special
committee to take into consideration all papers the
ject Of a railroad to the Pacific
Mr.. BAIKspAIE, (adm.) of Miss made an unsuccessful
motion to table the resolution the 81 to %.
Several incidental questions determined by yea
and nay votes.
Mr.. FLoRxScE (adm.) Of Pa, said that the House had
evidence that good came of sitting on Saturday. He
then made an Intellectual motion TO adjourn.
The subject was passed over aud the House went into
committee
TREASURY MOTIF BILL.
Mr.. CLANCY JONES, (adm.) of Pa, explained the prov
sions Of the BILL which he said similar those
tofore passed under both democratic and wing admins
traons. He would endeavor TO get vote upon to-day.
Mr.. RIr1nE, (opp) of Pa called attention to the fact
that there are two sets OF democrats, theoretical
VINO VIII nave nothng Out goa anu suver anu the other
practical who will have anything they get, and
ask for treasury notes.
Mr. BANKS, (opp.) of Massachusetts,, remarked that
statesmen at all times had asserted that the resort
TO treasury notes Of doubtful expedcncy and dan
gerous IN principle, and should never be adopted
If any other measure Of relief could be obtained. II
is not true government cannot obtain relief except
through treasury notes. There was a period al
which loan could be effected either for large small
sums for short or long time, better than the
country richer than ever has been before He wished
the bill amended authorizing the issue OF treasury notes
stock bearing six per cent interest the
gregate sum borrowed not to exceed twenty millions Cir
cumsiances different from those when the
note bill OF 1916 passed. There then with
Mexico.
Mr.. Conn {adm.) Of Ala Gnterruptng) remarked that
there was prospect Of war with the Mormons
Mr. BANKS replied that there here representative
from Utah. with the standing that Mr. Cobb has and
therefore could not be said that with
Utah but there spcck Of war In another direction,
0aaghter) from which the adminstran could not be
leved by the issue OF treasury noosA
Mr. Muscs, (adm OF Va, argue Mat Congress ought
10 prefer 10 supply the public nessities by treasury
notes rather than by loans for long period There may
be necessity for resortng loan but at this time
when threatened by deficiency the revenue, IL Is Inn
porlant that the public credit should be maintained
Mr.. BlsHop, adm of Conn, supported the bill, the
ground that the notes would 60 into circulation and be
used . medium Of exchange. II would meet the neces-
stiles Of government and benefit the business Of the
try, which Is not in prosperous condition the banks
described II may be true that there money than
country but Is not available and he (Mr.
Bishop would be glad II the gentleman from Massachu
sets would point out where 1t may be found.
Mr.. DAVIS opp Of Md, opposed the bill There was
period fixed when the notes be presented for
dempton, and they would therefore continue in crcua
ton irredeemabe currency based the faith OF the
government Tho striking down OF banks IN the country
being recommended in tho Presidents message, may DO
that the Of twenty millions Of treasury is de-
signed 10 all void-tho dominant party 10 make
substitute the paper Of the treasury tor the paper OF
the banks
Tho committee then rose and the House adjourned,