Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1862-02-14

Neon Reports.


s7t4t- fftf" W 6sHIScTCy, February ~.
SENATE Mr. Sherman objected 20 the
amendment to the Treasury note bin providing
for deposit on il. a il would tend 10 prevent ex
change bonds and do great harm.
Mr.. King moved TO reduce the percentage 20
one per cent Rejected
The amendment providing for deposit of five
per cent. was rejected.
The Amendments setting apart the proceeds OF
the public lands, and confiscate property and
duties on imports for the interest of the debt ia
bonds and notes, and for a sinking fund. was
adopted
Several other verbal amendments Of the com
mittee adopted
Mr.. Fessend-n moved to amend the first sec
ton 50 as to make the bonds redeemsble at pleas
ure in fye years instead of twenty and pay able in
twenty years. - tA 81 81 flA .ll
Mr. sherman opposed the amendment as tend
ing 10 depreciate the character of the bonds
Mr Fessenden said the amendment Was to pre-
vent paying too high interest for long number
of years y ts1lfTe e1N
Mr.. Chandler said there was no time since the
first Of November that the war could not be closed
in sixty days. Only one obstacle stood in the
way for months which Congress could remove
TO morrow He believed the order forward wouIo
be given and the war closed by the lst day of
May
A message was received from the House say
ing it disagreed with the Senate's amendment to
the civil and military Appropriation bill. ADJ
journed
The Treasury note bin was taken up.
The question was on Mr. Fessenden's amend
ment TO make the bonds redeemabie after five
years 1T the pleasure of the United States, which
amendment was Withdrawn.
Mr.. Collarer moved to strike out that portion
of the bill which makes the notes legal tender
for private debts.
Mr. Wilson was opposed TO the amendment,
and if it was adopted he should vote against the
bill. He considered that it would be wickedly
unjust to place all this money in the hands of sol
dierS and employees of the Government, forcing
them to take it, and not protect it after 1t Was in
their haiids
Mr. Collamer modified his amendment soas to
strike out that portion of the bill which makes
The notes a legal tender for debts Of the { nitea
States or any kind of debts including the amend
ment OF the committee, providing that all the in
terest be paid in coin.
Mr. Sherman believed there a necessity for
mixing these notes a legal tender.
Every organ of financial opinion in the country
agrees that it is indispensable.
We have to ply before the first day of July
three hundred and three million two hundred and
thirty five thousand dollars. OF this sum, one
hundred millions is now due this day.
How going to get this amount?-that is
question hardly necessary
We can not pay our debts in coin, for there is
not enough of II in circulation since the banks
suspended.
The banks can not'let us have any more mon
ey, tor We have already taken more than their
capital IN bonds.
Capitalists can not buy tie bonds of the Gov
eminent. for they not get get the coin TO do
so, which is the only thing tue Government can
receive.
If the bonds of the Government were now
thrown on the market of the world, they would
depreciate To 90 cents on the dollar There is no
money to pay the bonds; ulen how are we going
to pay the soldiers and the contractors who feed
the armesY There j. no other way than to gise
them notes which near money as possible
After further discussion Mr. Sermons offered
an amendment to allow the notes to be funded in
two years bonds bearing $40 per cent in
terest. Adopted
The bill. as amended, then passed-yeas 80,
nays 81. Adjourned.
HOUSE--The House proceeded to the con-
sideration of the joint resolution reported by Mr.
Holman from the Committee on Government
Contracts. authorizing the Secretary of War TO
pay the Hannibal aad st. Joseph and Pacific
railroad Companies for the transportation of
troops, munitions of war, &c., but at rates not
greater than those required from private indiyid
uals
Congress in granting lands toward the construc-
ton of these roads reserved the right to transport