The New York herald., 1862-01-29
lrousc Of Representative.

WASHINGTON Jan. rs ls62.
SrwsrAPEs sI.rMtSrs Aor rRivEEerp orEsuoss
Mr.. wars delegate from New Mexico, rcse 10 qoss-
sion of privilege desiring to correct statement ia
newspaper but the Speaker ruled that newspaper state
ment is question Of privilege.
TIE DEMAND NOTE mLI---xxrosuoS raK or
THE NATIONAL FINANCES.
The House in Committee resumed The consideration OF
the Executive Judicial and legislative Appropriation bill
Jhis subsequently laid aside and the special order
proceeded with namely The bin TO s1horize the issue
United notes. and for the redemption or funding
thereof and for funding OF the floating debt a. the
United states, copy Of which published last week.
Mr.. spAuLpNe, (rep) Of n. ". rose to address the
committee, when
Mr.. MoRanI, (rep) OF Vt, inquired whether The gen.
Jlemsa Proposed to leave the bill open discussion and
amendment. Tss''s'
4. NJ srItiTNe replied that the bill would take the usua
rsarse and opportunity would be afforded for debate
~ long as practicable compatible with the pressing
nands OF the Treasury.
Mr. MORRILL, gave notice OF his intention introduce
substitute for bill ointing such part makes he
note legal tender.
Mr.. srArrpSo, rep.) Of ", proceeded TO explain
the bill. He said:--our finances deserve most
rous attention The ways OF carry ing the
should enlist the grave consideration Of svsry
teman this floor who desires the preservation OF this
government We never in greater peril than at this
moment. i'll require all our best energies 10 success
fully meet the crisis through which are passing
am oppressed by the magnitude Of the work before US
But sir will not dare noI trust we shall not any
fusshrnk from the responsibility Of performing every
auy devoved upon this great crisis Of national
AFFAIRS Tic bill before us is measure, a measure
Of necessity and Of choice, presented by the Com
mittee OF ways Mears the most pressing de-
de the IN he ruuy
until they make vigorous upon the traitors
end crush out the rebellion. These extraordinary y
times and extraordinary must be resorted 10
order to and preserve nation
atty This bill in addition atty millions Of demand
authorized by the act Of July last authorizes the
Secretary Of the Treasury issue the credit or the
United states hundred millions dollars os Treasury
notes bearing interest, payable the bearer al the
Treasury or at the Office Of the Assistant Treasurer
the city Of New York, AZ the pleasure OF the United
states and Of such denominations may deem es
pedient not less than Ave dollars each notes
and all other United payable demand no,
bearing interest heretofore authorized made e.
csiyabic for all debts and demands due TO the United
states and for all salaries debts and demands owing by
the United states ndiv viduas corporations and
rafonS within the United States and are also declared
lawful money aud legal tender in payment Of all debts
,rJblic and private within the United States, making
Altogether $50 600 900 legal tender demand notes Pro
vision s also made for the convenient exchange
states 1redecmab.s in twenty years furtbs,
e. enable the secretary OF the Treasury "a
fund the treasury and floating debt OF the United
states he authorized TO issue, on the credit Of the
United States coupon bonds or registered bonds, 10 an
amount exceeding Ave hundred millions dollars, and
rcdeeuabe at the pleasure of the government after
twenty years from date and bearing interest At the rate
Of siy per cent per annum, payable semisnDuay and
the btnds thus authorized be Of such denorons
t,oDnot less than hfty dolarsas may be determines
upon by the Secretary the Treasury, sums Of not
less than 500 for which requested The secretary
the Treasury, II he deem IL eXpeient may issue sini.
lar bonds the principal aud interest ~ which may be
expressed in the currency ~ sny foreign country and
payable there. The Secretary authorized irsue said
bonds ~ their par value 10 creditor creditors Of
the United who may est TO receive tlo ia ,ate
fkctpp u Their demands provided, tLGt AL such