The daily Evansville journal. (Evansville, Ind.) 1862-1863, 1863-01-23
NEWS BY TELEGRAPH.
BY THE T. W. LINE
Exclusively for the journal.
CONCRES SIONAL.
XXXVIIth COngress.-First Session.
WASHINGTON, January %.

OF S2,9OO per annum, and extending Tor
the period of two years from date.
The bill was amended by making the
salary of the Deputy 81 900, and limiting
the term of the Assistant Secretary to
one year from date.
The bill then passed. 'l-
The House went into Committee of
the Whole to provide ways and means
for the support of the Government
Among the amendments which are
subsequently, to be voted upon is one
authorizing the Secretary of the Treas
ury to dispose of bonds on such terms us
he may deem most advisable, for the law
full money of the United States, or for
any of the certificates of indebtedness
that may at any time be unpaid, or for
any of the Treasury-notes heretofore
issued, under the provisions of this act
Cox moved TO amend by making the
revenue payable in legal-tenders, as he
said, pro lorna, to express his fear of
the effect of the increase of paper money
ON Western interests.
he always opposed its issue. He now
opposed it because every dollar of new
issue burdened the West by increasing
the protection to New England manu-
facturers.
The Customs being paid in coin, the
price of coin goes up. As paper money
increases, the price enters into the price
of the article, which money tax the cur
rency pays For instance, the importer
purchases 800 worth of prints in Eng
land, when he enters them for consump-
ton he pays the 30 per cent duty, which
he adds to the cost of the original pur-
chase. He also adds the exchange 60
per cent, which makes with the first
cost and duty 81 90. On this he charges
his profit of 10 per cent. or 10 cents.
which makes 81 o. On this sum the re-
taller adds his profit of 90 per cent, or
AZ cents, making the cost to the con-
sume; 81 81. This, under the present
tariff and paper money system, the manu-
facturer gets an actual protection of 80
per cent
Do you wonder that the manufacturers
of Massachusetts divide their regular 10
per cent and from 90 to &C per cent.
extra2
On the LIST of January the Naumkeag
Mills Of Salem divided GO per cent ex-
ira, and the Pepperill Mills at Belleford,
Maine, divided 80 per cent extra.
Many other mills divided large extras
at the same time.
Do you wonder that certain persons in
Massachusetts want the war to continue
for selfish purposes?
This and other fncts show how the ag-
ricultural interests are impoverished,
and how the life's blood is sucked BY
these manufacturing vampires from the
veins of labor through high tariff and
inconvertible money.
Agriculture gets no protection. Its
surplus above domestic consumption
seeks foreign market, and receives no
benefit from prohibiture or protective
tariffs, or from an inflated currency.
Hence agricultural products do not rise.
Let this process 90 ON few years and
the wealth of the west will be transfer
red to the New England monopoists and
capitalists. This is poor way to sus-
tain the credit of the Government, which
depends on taxes, confidence and union.
1t is a poor return for the patriotic de-
votion of the west to the republic.
If such policy prevail it will increase
and not mitigate the feeling of the west
against New England l speak this in
warning and in devotion to the whole
Union.
Morrill,, of VT, remarked, that as the
gentleman from Ohio was distinguish
ed leader from the other side of the
Honse it was, perhaps, necessary to say
that it was the almost unanimous con
clusion that the interest on the perma-
nent debt should be paid in coin
If this feature of the bill was stricken
out, whence would the Treasury procure
coin for this purpose.
Coxs amendment was rejected.
The ID section was amended so as to
authorize the Secretary to issue $780,.
600 in Treasury notes, the interest not
to exceed g per cent payable semi-annu-
ally in coin, and the principal payable
any time after three years from date,
such notes receivable for Internal duties,
and all debts and demands due the Uni
ted States, except imports
Nothing in this section to be construed
to authorize any additional issue of legal
tender notes. ..-.
Pendleton moved to strike out this
third section of the bill providing for the
issue of $300,000O00 Legal Teuder
Notes, saying that on this subject the
Administration is divided against itself
After considerable discussion, Pendle-
tons amendment was rejected
A new section was odvPted, that after
the LIST of March, 1868, the coupons OF al
bonds of the United States heretofore is
sued under this act may at any time
thirty days before they become due, BE-
received for customs as coin under the
regulations, as the Secretary Of the Treas
ury may prescribe.
Trumbull said the bill was to revis'
the action of the advisory board of TIN
navy. Congress had passed one bill las
year, and now having legislated out o
relieved certain officers, we are her
about to shift them back again, and tn
bill provided for an increase Of rank S
as to make places for so many of tn
men as might be restored.
The morning hour having expired
the Joint Resolution to annul the treatle
with the Sioux Indians for their late GU
RACES in Minnesota was taken up ID
offered a substitute for the resolution
and for the House bill to indemnify tt
State of Minnesota for her losses.
1t provides LIST, that treaty stipulation
Il. Al IL.