The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-12-19
TIFIIaTY-FIFTH CONGRESS-.
FIRST SESSION.
Senate.

WASHINGTON, Dec. 49, 1857.
ELL KANSAS
Mr.. DorGfAs, opp of H., introduced bill TO autho
rize tho people Of Kansas to form constitution and state
government preparatory to their admission into the
Union equal footing with the original States.
The resolutions submitted yesterday By Dir. Pugh and
Mr. Trumbuu, calling upon the President for further
formation in reference to Kansas affairs, agreed
TREASURY hill
The Senate then the consideration the Trea-
sury Note bill.
sr. HUNTER, adm Of Va, whiic explaining the provi
sio13 CT the b said aitAoug the crisis commercial
revival 81 trade before Tho last Of Apr or rs e May
Before tha time the money nov proposed TO be raised
would be needed by the Treasury department.
necessity for the issue OF notes, but the bill not suf
GENTLY guarded in several particulars. 1t had ma
ton the time during which these notes might be is
sued. He or the opinion that tho 10 be col
iec during tho present. year would meet all deficiencies
and there would be another session OF Congress ncxt
when any further action might be taken which seemed
Necessary He therefore proposed to limit the bill to the
would be sufficient AMI the rate Of interest
seemed too high Fonr centum would procure all the
money of which the government might stand in need
Mr. HUsrrI had no objection to limiting the time. A
large surplus needed carry the operations of the
tary ofthe Treasury 10 justify them in suppong that
will be safe Ia issue this aoun or so mach thereof as he
might find necessary The surpius in the treasury bad
beea rapidly diminishing since the suspension Of
specie pay ments by the banks.
IT1e proceedings were here interrupted by message
from the House announcing the death of Mr. Montgome
Ty, of Pennsylvania when Mr. Bg!er pronounced
euiogy upon the character of the deceased
Mr. HUNTER resuned-As TO the rate of interest he had
idea that the to be issued at per cent,
but i. better to fix tina, rate the maximum He
presumed Secretary would try the market three
per cent.
Mr. SIMMONS, (opp Of r j. vindicaed the Banks from
the chsg the President message that they the
Of the present commercial revulson. He thought
they ought not to DO called irresponsible institutions.
The evils the Effect Of speculation Productive labor
tie Only basis Of wealth The change Of duties
Treasury, mad encouraged speculation. He advocated
protective tariff the OF preventing England from
that commercial ascendency which she has
been directing all her efforts since she found she
could DOT conquer by He only waited ten mil
lions, AID would vote for bill with that reduction.
Mr. HyxIgR could not consent TO such reduction. II
only millions authorized he thought they would
be called for another bill in January lie willing
TO reduce the maximum interest TO AZ per
and limit the operation OF the bill TO year.
Mr. CRrTEspYs, (opp) OF KY, preferred 10 have 40 in
terest the notes but 10 let them circulate as bank
notes rather strange, after the crisis past and
the banks re everywhere rcsurnng tina, the govern
nent should suspend, and Congress must supply the
1t only from the imperative necessity OF the
that he could consent to vote for the bill! He
hoped tos would be followed by measure to increase
the TO extent sufficient TO meet all coningen
Ces.
Mr BILL (cpr) Of reun., alluded to tho fact that many
hones, importers driven from trade consequence
OF frauds committed under the tariff bill Of the last
sion. lie thought revision Of that system Indispensable
lie could not vote for the issue Of twenty millions but
moved for much as is now necessary.
Without concluding the subject the Senate adjourned