New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1862-02-13

telegram saving that he had chanSed DIS ihhu, "h"
that must vote for the legender, as II was neces-
sary 20 the welfare of the country; and ON that same
DAY 1 received another telegram from his frenn,
stating that be had changed his MUD, and that the
leqal-lender clause must he stricken out, or the
coantry would not he safe. Laughter. Bat, olr,
with orr credit unaffected as II ought 10 be by 'hs
war; would get rid OF this difficulty bya few simple
principles. First, by taxation. we are All agIeeo
upon that, and the people are, perhaps agreed bet
ter than we are. We must tax, Sir,
sIeedily, vigorously, and strongly. There
is another means of sustaining our crecit ana pre-,
serving our character for good fsith WIN all men ara
losing nothing of that which has attended us hther-
TO since We were people, ana GIVING 10 nan no.
no set of men, any ground upon which TO gay that
we were unwilling at any time TO make any sseri-
ice necessary to redeem orr pghted faith. mean
Sir. by economy, strict economy. aud believe, Sir,
We are beginning 10 learn how 10 pracuceH' 90
not mean by this TO do Us my friend from Massachu
sets Alr. Wilson, proposes, TAX tnose VINO &c III
the employ of the Government more than anobody
else, hut economsing in the great sources OF waste
and loss and in laying tax upon TINS people
believe there never has been time when There was
cause for SO much hope a. to-day. Inere nave Deeu
times when the people were mott despaifihs,
but / believe those umes are past.
,yould not have il calm always. Ii is only IN the
Dead Sea Of despotism that you can have perfect
calm. In the wide ocean of liberty you must expect
Ia find a continual tossing Of the waves, sometime
even tem,ests, but they viii Subside, and thousands
of tall ships snail loa. thereon, laden richly Win
hope for the nations. .
Mr. COLLAMER (Rep. VT said H. proposition
was now to issue Treasury notcf, aud make them u
legal tender, or payable Tor everything. Treasury
notes have been issued before, bnt have always been
PAYABLE at the option OF the person IN the payment
of public debts. NeDever before attempted 10 MAKE
them payable by coercion ana receiVaoie py lor,e.
Rut the bill goes still further and proposes to MAKE
them legal payment for all private debts with wh,h
Congress has nothing TO do. But what was the
meaning of tenderl We only compel those TO take
them who have debts TO be paid. We cannot make
them tender for property. lie may 90 ~ ne
pleases and they call this equality. we SLOPPY -!
we engage all YOU who debts TO take this paper,
depreciae it az much as you can, to cheat creditors
with. This temporzing policy wouli destroy an
credit, public and private. lie referred 10 ana Ieau
from Story on the Constitution, IN regard to paper
money and from accounts Oi the rtaie oi ihiisn pc
fore the adoption Of the Constitution. DEsulie tils
MEASURE as we will, IL is simply TO enable IA man
WHO owes debts to paw tbcin at par VIII Deprecated
paper This was really impairiug tie obligation OF
sllcontracs Such PAPER, pnt out ard made payable
By coercion, depreciatcs, and always has IN eve
country; and never In The history OF TIE Worl WIS
such paid and never will he. He referred to the
proyirion OF the Constitution, that no new State
shall emit bills OF credit, and read from the
debates in Convention on tho subjec, ana
contended that the trainers OF the Constl.u'
ton intended expressly to shut out the power
of the States 10 issue any such paper, and esp.-
ciaily make II legal tender; and they oouic not
have meant that tie States were not allowed T. de-
bauch citizens, Int Congress would be allowed to
debauch everybody. lie contended that Congress
had no power under the Constitution 10 make any
thing legal tender, except coin. This proposition
was not half 70 HONORABLE. a. "a forced Loan. la
forced loan the Government takes n mans property
and piye- bin certificate which II pays some time,
Il On g.
take paper al bali value, and which would never he
raid at al by anybody. II WIS like young law
ver's definition OF a DrlDid tacic case" II was
Gaze that WAS good In front but bad in the rear Il
il practical deception of the people, In which be
was not wiling to participate He did not believe
there was any necessity for this thing.
Mr. SHERMAN REP, Ohio Offered an amend
lneni to The amendment OF ,he Committee, that tie
vote. authorized July, also be received IN pay
uent OF public dues, &c. Adopted.
The Committees amendment with regard TO pay
ment Of interest in coin was adopted.
Also. the amendment striking out the provision
hpt the notes be exchanged Tor bonds bearing seven
Ger cenl iiu.cre.l. ADOPTED.
MIR. HOWE rep. Wiz spoke a, some isns,h 10
favor O. the hill lie contended that We must nave
money 10 carry on the Government, and we could
NOS raise efficient amount oi coin 10y taxation IN
inc sufficient to effect the object. Con-eq uen'ly,
he Government must Issue something tha' VIII Tor
Government owes large amount, I'D must pay
-olne way either ia cOiu something else. IL had
better paw in notes than bot pay al all. lie denied
that any other GQycTnwent bad lried such An expert
ment az this lie declared that the county was
diving for want Of currency aud the currency needs
Initiation. lie oontendcd tia. England preserved
her credit for a long time on paper currency. lie
urged the necessity OF this currency because the
country needs it, aud because it ID safer.
Mr.. FESSENDEN moved an amendment to the
it, That mi
only ten DAYS notice. Adopted.
Mr. SHERMAN objected TO the amendment pro.
vidng for deposit az il would tend to proven, eX-
change into bonds and do great harm.
Mr.. KING Rep, y. y thought il would be Civ
ing the banks too much advantage. lie moved 70
reduce the percentage 70 one per cent. Rejected.
The amendment providing for deposit at i've per
cent was rejected.
The amendment setting apart the proceeds Of the
public lands and coniiscaed property and duties on
imported goods special fund for the payment OF
the interest OF the debt in bonds and notes OF the
United States and for a sinking fund, was adopted.
Several other verbal amendments o. the Committee
were adopted.
Mr. FESSENDEN moved to amend the first SEC
ton 70 a. 10 make the bonds for which the notes are
funded redeemsble at pleasure in five years instead
of twenty, and payable in twenty years.
Mr.. SHERMAN opposed the amendment as tend
ing TO dspreciate the character of the bonds.
Mr.. FESSENDEN said the amendment was TO
prevent paying too high interest for u long number
Of years.
Mr.. CHANDLER rep, Mich.l said there was no
time since the first Of November that the conld
not be closed in sixty days. Only one obstacle stood
in the way for four months, which Congress could
remove tomorrow. He believed the order forward
would be given, and the war closed by the fret day
Of May.
Adjourned.
Mr.. HICKMAN, Rep PENN from the Judiciary
Committee, offered II preamble, setting forth that
Henry Wikof having transmitted portion Of the
Presidents last annual Message for publication Ill