The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1864-06-24


Riddle aud Salisbury
The bin provides that 80 much or the Enrolment act
Of March 1884, and the acts amendaory Thereof 40 an
20 military service BY reason OF the Of three
hundred dollars Tor tho procurston Of substitute BE-
repealed: provided that nothing contained In this act
shall DO construed to alter the provisonsof existing laws
relative 10 actually furnishing substitutes the
section provides that In all calls for drafts here
made under the act for enrolling and oang out the
national Forces and the acts amendatory theroo the
doc not exceeding n Section three
provides that the number OF furnished from any dis
trct for the service Of the United States beyond ana
service OF such men, shall DO considered and allowed 70
districts. Section -four provides that no person
same shall be liable TO DO again drafted until he existing
enrolment sh Ill DO exhausted.
At halcpast twelve the Senate adjourned. NeA
House or Representative.
WARRINGTON, June %, 1864.
BlIs PASSED BIT TEE HOUSE.
Among the bills passed this morning relating to the
District OF Columbia authorizing new street IN
Washington city, TO be called Coltax street. 3
The House passed the Senate bill amendatory Of the
law Of March, 1858, which extends the time within
which patcptees who neglected may pay the final
balance eea within months from the passage Of this
act to secure their patents
rnB BOUNTY FOR SOLDIERS.
Mr. TRACY, (rep OF Pa offered resolution iustructing
the Committee Military Affairs to inquire into the cx
pedency and proprsty OF reporting bill giving TO COL
ders who volunteered for less than three and not
less than nine months the bounty rs allowed BY
exisng laws &c This refers TO those who have died or
nr. FEsros, frep 81 N Y, said the committee was
instructed to the effect by his mr. rcsou.
Sn three or o sseks ns nau o
hoped It would have good result.
The resolution was adopted
@A 4l@ TIE NEW LOAN BILL. l
The House, IN the Committee OF tha- Whole on the
state OF the Union, resumed the consideration OF the
Mr. RRoox opp) Of N Y called attention TO the fact
that the b provides per centu for the necessary
sns
and bonds and OF dsposng OF the same to subscribers
and purchasers he said that only few days ago four
similar purposes and as the whole amount to be printed
under this bill was six hundred and fourteen millions OF
over four millions. Il could be done for great deal less
III himself would print the public money for ZENITH
On motion OF Mr.. Books, an amendment was made
thst the imprint Of the seal Of the Trcisuy Department.
shalt BE- mado in apart from the Printing Bureau.
asubsttute for the second section OF the BILL
Th. he seSrs.Ty q the Treasury may i.sns upon The
h;Tss.
certificates Of certificates OF deposit issued
e :, ss ia s
S1 this 81
&C. h United assS
81 mol S.p Ono os sSs :, q se
s1Ss
to hf ~
and no! issued Ia thereof honda similar 70
All treasury notes other han United States shall
ssss s and ne
.p n. uGs IS - ssp
shall the tots amount Of United States notes issued or
and sSs ess@ a
Of . temporary loan. - -
Mr. Poxm,oY said that tho present advance 10 gold Is
not me result o 70
well theory 10 the policy Of gold values established
In 1892 with the amount Of paper mnsy 70 circulation
the value OF paper money and could only mako
mischief The policy OF 1862 OF adhering to gold values
chairman Q, the Committee en- Ways and Means (Mr Ste
vene Of Pcnnsy lvnnia adopted namely repudating the
pay sus anu pas The Of
the present initiation must soon become ruinous to
the masses Of the people =, Tho fatal , mistake
the popular six per cent Ave twenty ioan and attempting
TO feat i've per cent bond and upon It's fnurc resort
ing TO interest bearing legal tender, and on the part Of
Congress In not speedily supply efficient system OF
taxation was however. still possible by adherng to
correct natural laws to restore the credit OF the country
Mr. HoofxR, rep, Of Mass. briefly replied He ex.
pressed the hope that the substitute offered by tho gen.
tlcman from New York tMr. Pomcroy) would not be
adopted He thought that thcrewas great deal OF dan.
ger IN accepting such an important proposition In this
hasiy way lie knew that the Secretary oil tue Treasury
had slecpess nights over this bill.
Mr. Books said that tho gentleman from Massachusetts,
r Hooper, wished TO give this bill the sanction OF tho
Secretary OF thereasury. Ho Mr. Brooks held in bis
bands three distinct bills, and he wanted 10 know which
wns the proper one.
Mr. HoorEa replcd:The bill now under consideration
based that sent bhcr from the Secrety Of the
Treasury, and was the same BILL With some slight atera-
TORS.
Mr. BROOKS. remarked that there were essential
changes.
Mr. HoorHR would like the gentleman to point out one.
Mr.. BRooKs said that the third bill from tho chair
man Of tho Committee on Ways ard Means
Mr. HooER replied that the chairman reported his sub
stitute I'm his own responsibility
Mr.. STEVENS rep) Of Pa, said he did not agree with
tho majority OF the Committee on Ways and Means, and
herce he had offered substitute for the rs section OF
the BILL
The question having being taken the substitute Of Mr.
Pcmeroy Tor the second section OF the BILL given above
was adopted, by yeas IS, nays ~.
MIR STEVENS said while advocating mis- amendment,
poor Statesmen Instead Of passing the Gold bill TO re-
strain speculaons would BIO better 10 take away the
o had ~ his
tho principal OF the ave tweies Ia pay able COIN but
The courts In three states bad not so decided.
Mr.. SrAULDSa, rep) Of ohio said he had CONVERSE
tiou with the Secretary Of the Treasury, who believes
the pay mont OF the principal is to DO In gold.
Mr.. STEVENS replied that such rot the law, which
says tina, the interest 10 payable Ia coin, and silent
about principal. Tho latter Is payable in currency
lie briefly replied 10 Mr.. romcroy. showing that the
Committee Of Ways and Means had faithfully performed
their duty In providing the bills necessary for revenue
aud then expressed tue opinion that oil the trouble rose
from the extraordinary demand for gold for gold " not
currency. In 1862 the banks falling TO loan the
government morcy, we were driven to the necessity q
Issuing legal tenders No system worked better In
any obos country lie supposed that specie pay
penls would not he resumed Tor ten years to come
During The gfea, Napoiconc the Bank Of England
suspended specie pay from 179s TO 1892 Whoever
looks speedy resumption In this country was In
his Judgment and studied history but little
proht lie deprecated the present policy Of paying tho
interest ~ tho debt In gold, and asserted that u this
should continue with increase OF debt the governments
would fail II fatal policy, which rests like an IN
osbus upon us and gold would continue 10 50 up as he
long predcted until the government procure tho
coIu IL 20 the country from Reputation that
no then explained the character OF his amendment,
which TO authorize tho borrowing OF four hundred
millions OF dollars and 20 issue these tor coupon OF regis
bonds OF the Urci States, rsdeeabe at the plea
Of the government after period not css than
1--WE than forty and, deemed expedlent
made payable at any period not more than twenty yerrs
date payable IN coin such bonds 70 be OF sucn
denominations tho sccreary Of the Treasury shall az
rect less fh,n nfty dollars, boar annual To-