Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1862-02-14
FROM WASHINGTON.


and the House has expelled specie from the
national currency. The treasury note bill,
passed by the House yesterday, 80 to 90,
will. if concurred in By the Senate, be the
greatest and gravest act ever passed by Con-
press. 1t provides for the issue of addition
al treasury notes to the amount of one hun
deed millions Of dollars that issue, with the
fifty millions previously authorized, will make
a federal currency Of one hundred and fifty
millions of dollars in paper. This paper is
made legal tender for all debts, public and
private The act provides that these notes
may be converted into per cent. bonds.
which may be issued to the amount Of FIVE
hundred millions Of dollars. The notes may
therefore run through the federal mill over
and over again until the five hundred millions
Of bonds shall be absorbed and then doubt
less. Congress will issue another batch Of
bonds. Specie is not required or pledged,
for anything not even for so much as the in
tercst on The bonds. The debate was sharp,
add through the closing hours Of yesterday
the House exhibited all the excitement and
interest that attended the conflicts which pro-
coded secession aud rebellion last year The
contest was between the bill, as ! have de-
scribee it, and a substitute originated by Mr.
Morrill, of our State and presented by Mr..
Horton Of Ohio-who, by the way, is YER
montcr. The substitute provided for the
same amount Of treasury notes, bearing
small interest aud convertible into bonds at
1910 interest. The notes we're receivable
for all public dues except duties on imports
and the interest on the bonds was to be paid
San specie The radical difference was that
The bill makes treasury paper legal tender
while the substitute made gold and silver as
legal tender. The friends Of the substi-
tute doubted The pouer Of Congress to make
paper a legal tender at east they held that
the power should be used only the ground
Of absolute necessity, and they doubted the
present necessity The friends Of the bill
were finally forced TO take shelter under the
doctrine that Congress may make anything
moaey-gold, or silver, or copper, or iron, or
hides OF paper. They chose paper Of course
on the ground that it is the best TO meet the
necessities Of the case. Vermont voted unan-
imously for the substitute and against the
BILL
The first draft Of tax bill has been made
and printed for the use Of the committee Of
way. and means, aud will be reported to the
House at the earliest moment possible. 1t is
expected that the committee will also report
bui TO carry out the banking scheme Of the
Secretary Of the Treasury.
observe that the Freeman ntimates that
Members Of Congress are guilty Of swiud
ling in respect to mileage, aud regrets ." that
Vermont couldn't have shown a clean record
on this question The Freeman following
TIE New York Tribune Is ignorant Of the law
In respect TO the time Of payment, ami under
which members received their first mileage at
the hrst sessian Of this Congress which was
special session. Both newspapers ignore
the law Of 1857, and base all their complaints
on a supposed violation Of the law Of 1856.
The payment was made on the law Of 1857,
and without any order by Congress, either of
Senate or House If the law was violated,
the error lies with the Executive Department.
rather than with Senators or Members. But
H. was sofyiolsted. The Freeman apprehcuds
that members mean to get a third mileage,
w5.ch would be violation of the law.
Doubtless that paper will be glad to hear
chat Vermont does present " a clean record on
tb. question: Jan. 9th, in committee Of
the whole. one Of the Vermont members Cthc
name would be distasteful, perhaps, to the
editor Of the FreemU,,) proposed to strike
out the appropriation for mileage to Senators
for the next session, for the ayowed purpose
Of prev1ttip9 the payment Of a third or extra
mileage. and every member from Vermont
voted for il. The amendment was rejected
perhaps for doubt whether all the Senators
have received their second mileage The
same amendment was proposed, by Mr.. Al
drlch Of Minnesota, to the appropriation for
the House, but was withdrawn for the reason
that the existing appropriation cannot be used
next year, If the second payment of mileage
shall be postponed. You will see from the
" Globe that only one member Of the House
claimed third mileage In t,uth | suppose
the House is nearly unanimous against IT,
No vote by yeas and nays on these amend
ments could be taken in the House, because
the amendments were not adopted in eomit
tee. and therefore could not come before the
House at all.
From BURSsIDE's EXPEDITION. - We
have at last reliable news from Burnside's
4 operations, far as reliance can be placed
upon what comes through rebel sources
BY the flag of truce at Fortress Monroe,
tue rebels admit that our troops have effected
landing on Ronoke Island, and we suspect
/, that when direct information shall have been
received, great deal more than this will
prove true. They have undoubtedly taken
the Island, as Gen Burnside was confident
of success when he left Hatteras, and had
force which for numbers, strength, equipment
were superior to those of the rebels OF the