The national Republican., 1862-02-06

n0eoengo, HOWARD, HOWE, johnson, King,
Laas Of Indiana, hoDougall, Morrill,. Pomeroy,
Simmons, Sumner, Trum6ull, wade,
Wilmot, Wilson Of kAsssohusetts,
and Wilson Of Nissouri-s2. W E
.NAYH-nsssrs. Bsyard, Carlile, Cowan, Har.
rig, Kennedy, Latham, Nesmith, Pearoe, Pow.
w,hs slIi Klos; salisbury, Ton Eyok, Thomson, and
Adjourned
HOUSE OF REPRESENTATIVES.
The regular order being the joint resolution
on the subject Of certain railroads In the State
NJ. HOLMAN, of Ksa.uety, moved 10 po..
pone the subject until tomorrow.
Mr.. KELLOGG, Of Illinois, moved 10 amend
the motion by postponing the bill until next
Friday. Ths latter motion wAs carried.
Several bills, Of no special public interest,
were presented and referred.
On motion Of Mr.. SPAULDING, Of New
York, the House resolved itself into Commit
tee Of the Whole on the state Of the Union, for
the purpose Of considering the treasury note
bill, Mr.. Mallory, Of Kentucky, IN the chair.
Ar. CRISFIELD, Of Maryland, addressed the
House on the bill. He did not support the
President or the party platform on which he
was elected, In the last canvass, nor did he
contribute to bring him into power. Yet be
believed him 10 be honest and patriotic, and
he took the Constitution for his guide.
He thought the Committee Of Ways and
Means had commenced ct the wrong point In
the presentation OF their financial measures.
The tax bills ought TO have been presented
first. They have begun at the top Of the build
ing and are trying to build downwarda He
approved Of the main features Of the financial
plan presented by the Committee Of Ways and
Means, but he objected to some Of its details.
He was decidedly opposed TO the tender clause.
He reviewed the arguments presented on the
other side. and defended his own position on
the subject.
Mr.. PIKE Of Maine, addressed the House
10 favor Of the bill. The people have come 10
the subject Of taxation. They have sent their
men-fathers, sons and brothers, 10 the field TO
fight our battles. We have commenced our
operations under most favorable aspects. A
national debt Is inevitable. 1t only remains
for us to adopt the best measures Of assuming
the debt, and also Of paying It. He presented
some historical "reminiscences on the subject oil
the financial schemes Of other countries.
There seems to be shrinking from the issue
Of paper currency by many parties, because
they seem to think that gold and silver Is the
only normal currency. There Is neither rea
son or history 70 sustain this theory. Belts Of
wampum, trinkets, tobacco, aud almost every
thing else has in different ages and countries
been currency. In the centre Of Africa, ne
groes are considered the larger currency, and
cotton shirts the smaller.
The people require that our army shall do
its work vigorously and thoroughly. And II
they are satisfied on this point, We shall have
no difficulty with these notes
He reviewed the constitutional arguments
which had been presented in opposition to this
bill.
The argument that the action Of JEFF. Davis
and his associates coufers no new power, 10 q
ialse one. The lighting up Of our houses by
the torch Of an incendiary confers new power
on the fire department. They can forcibly en-.
ter our houses, under these circumstances, and
damage a portion Of our property, in order 70
save another portion. He was opposed To
placing ourselves in the power Of the banks.
He gave an illustration Of what be deemed
TO be the practical workings Of the bill, when
stripped OF the clause making the notes legal
tender, and urged Its passage In its present
form.
He had hope in this contest. He believed
II to be contest of ideas, and 1t would end in
emancipation.
Mr.. ALLEY, of Massachusetts, thought these
financial measures were OF the greatest i'm.
portance. He thought the liberties of our
country were as much due to the financial
measures of Robert Norris as TO the negotis.
tions Of Benjamin Franklin. He reviewed the
history Of the banking institutions and past
financial measures Of our country, and favored
| this bill In Its present form.
Mr.. SPAULDING, Of New York. moved thai
the committee rise for the purpose OF limiting
the debate on the bill. He stated that he had
within few hours, received note from tht
Secretary Of the Treasury, saying that 1t was o.
the utmost importance that immediate actor
should be taken on this bill.
Mr.. HORTON, OF Ohio, said that this motor
| did not come from the Committee Of Ways ani
Means, and he hoped that 1t would be voted
down.
The motion was lost-56 to e..
Mr.. SPAULDING stated that his object wa
that the debate might be closed at one o'clocl
tomorrow.
Mr.. WRIGHT, of Pennsylvania, prooeede,
to oppose the bill. Especially did he objeo
to that clause which proposes to make the note
q legal tender. There may be times, befort
this rebellion closes, when we shall be con
strained, by the very necessities Of the exi
gency In which we shall find ourselves, to re
sort TO many measures from which we nov
shrink with horror; but he did not think tn
time had yet come for US to resort to sucl
measures a. this. +
Mr. HORTON, Of Ohio, opposed the bill. ~
said toat the country never was weskhier
never had more money, never larger resources
than at the present time. There Is 0occaslol
for financial crisis in the RESOURCES Of tn
country. The only reason Ia touHd In tha fac
that the Government requires more money thai
usual. He disliked this plea Of necessity.
was equal to confessing that We are unable 4
meet the crisis which Is upon us He woul'
term this an act of oppression.
He drew a vivid picture Of what he deeme
would be the sad results of this measure. d.
probation OF currency would ensue-ipaatio
Of pr.cs would follow-importadon Of foreig
luxuries, and consequent expectation Of golt
would be'amoDg the consequences Of this bill
, The people want action, in this House, in tn
Administration, and In the military depar
} ment. This will give the people confidence.
Mr.. SPAULDlNG, Of New York, stated ths
, the Secretary OF the Treasury had informe
him taat be has yet unexpended forty million
, OF dollars, but be Is unable TO pay 1t out will
| out a discount, until Mr.. Morrill's bill or on
, similar shall pass the House.