New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1864-02-19

amount Of gold on hand sic COO and OF this sun
sls.s0o0O were in the sub-Treasury in New fotk ];
The estimates from now 10 July will increase tbs
amount by from sixteen to eighteen millions, making al
The LITTER period thirty seven millions The require
ments for gold from now until July 10 make payments
OF nrest on the public debt viii be ess than twenty
four millions which will leave an excess from
eleven to thirteen millions which mas he disposed or
The gentleman from Ohio (Mr Cox had asker
What would be the effect of giving the proposed
authority 70 the Secretary of the Treasury This
was rather difficult TO answer and he should REFER %
effects or thing oy way 81 illustrated ss
made to letter from Mr. Lamar in which he advises
his Rebel friends To get up the price o god az we ue
way Of attacking our Government He Chopper
discourage the plans Of those gentlemen " no are as
posed to follow Lanars suggestion, as IL would DC I'M
possible for them 10 effect their object when Inc Secr
ary of the Treasury exercises the authority now sought
20 be conferred.
Mir PENpLToN Dem Ohio differed from his col
leagues the Committee OF Ways and Meane Inc
passage Of the resolution would b. very unfortunate
The Secretary the Treasury now has power to buy
gold when he thinks it necessary and this resolution
proposes to give him power to sel-tbns giving MN
power to control the money market whenever he thinks
proper. Besides the amount of gold was 30 compora.
lively small that is would afford but little, II any relief
| 10 the Government.
Committee on Ways aud Means, inquired whether any
body knew what the desire Of the Secretary OF the
Treasury on this subject The Secretary had neither
communicated with the Committee or Congress as 10
the propriety Of comforting hs additional power of sell
| ing gold
! Sir. Pryptrrov. Tesuminr said that he would not
intrust this delicate power to single head Of depart
nent. He did not intend To say an unkind word de-
rogaiory the Secretary but lie Repeated he would not
trust any officer with the power 10 buy and sell gold
TINS giving him an opportunity TO raise or d"press the
market in that particular. Within the next four months
there is 20 be pad, as interest on the public debt
crca,oramount of gold than We now have on hand.
What proposed was a transaction IN which no
wonld engage who auuged bis private affairs.
Mr.: BROOKS (Deun., y. y, showed that our imports
largely exceeded our exports the former 1kng h'avy
drains upon the specie of the country We had become
agaHt owing To the superabuDdance OF paper
money that the agricuursts have almost ceased 10 la
Dor, while nearly everybody is attempting TO speculate
and are deserving their farms and oyer-populaug our
cities. We should not, BY such eXpedent ~ IL now
proposed. cut loose from anchorihe basis OF the
credit Of the Goyernment-and throw oil our gold upon
the market IN order 10 buy paper lie repeated thht
the Of tho country was the oyerinporaffon of
m1nrics such silks, satns and cashmere shawls and
If gold would rise high enough TO stop imPorfaiions 1t
would be the greatest blessing OF which we conld have
any conception. He argued that the public faith is sol
emmy pledged devote the receipts Of gold 20 the pay
ment Of the interest on tie public debt Here was the
law Of 1862 Ii there Was surplus Of specie IN the
Treasury let the Seeretary II ho VIII. anticipate the
pay ncnt Of the interest on the national debt falling
due in July next. The President mas the sword, and
through the Secretary Of She Trcasry tbe purse and
he tar,i6fe stands fo.h NE impe:sonaon 81 despoi-
ism if he chooses IN exercise H. Tue bocrtsry Oh me
Treasury has the manufacture and disposition Vi hvl
sands of millions in paper money. lie DeleN"d tuh uio
Secretary honest and upright man, but never IN
le whole course Of his public lie had he seen sn officer
surrounded with thieves aud robbers. He coTd
name dozen whose standing was such that neihef
Reu.hoaps nor Democrats would trust them III ihcir
private affairs and now The proposition Is To give the
Secretary Of the Treasury power over The money mar
ket Of tie country Let us hold fast to the specie BASIS
Ny SILpUNs (Dem., y. y msIn,.nned that Tie
House itself with great glglin.ty should n.Ee orlsn
ated bill requesting aud dif;c.ng the Secretly o'
the Treasury ~ use the gold accommodating u the ITeas
ury beyond It's requirements, aud not have waited FOR
sla mia AID
the Government boarding gold irom necessity, be
cause there was no legal was Of parting with II. In
consequence Of the interest on the funded debt gold
daily becoming moro scarcesO scarce that the large
transactions caused by the customs the export demand
by maturing in Wall street, the stock Ex
change through sterling exchange transactions by the
gold room transactions and through the tIac al the
hotels. were tending 10 enhance its value, and conse
qucny the value Of sill the necessarics Of life IL was
simply question as 20 whether the Government should
continue to occupy this position whether should
be empowered TO sell at the market price all the gold
that II did not require for the special purposes Indicated
hy the laws He believed thnt the Secretary 81 the
Treasury would use the power with wsdom that all his
efforts looked in that direction. and that the House had
good 10 doubt that he would continue 10 man
S1estion as purely one Of interest 10 all elias.
- sr ENC Community and the necessities OF
the nation and not IN any way political spd be shouid
Mr.. GARFIELD made "a estimate =, 10 Tho receipts
into the Treasury. They we're a. Tie ratio 81 100000
d day In July next tw.nl,-thIee millions AL half
which the Government was pledged 10 pay onihe lrst
OF that month. There would then remain suylus. on
the basis Of the present recert greatly eiing the
estimaios. There would b. fifty and rnf Millions in
god In tie Treasury the lst OF July and tler0 was
no law 20 enable the Secretary to dispose Of dis sun
He Garfield -ld IN o0uclus on that greet R4ra were
not conducted viii gold but with paper
NJ. BOuIwFLL On. Mass said tdai the hIs secur
It's o. public credit h laitl. All pubic officers should
b. held To rigid responsibility by taxation and Ju Il
dicous e s.atou they lad provided or tic payment Of
the n,Crest on The public debt and Designated the me
dunn Ia which il should Dee paid. They had gntuln.oed
by legislation, sanctioned by public opinion. that the In
were told c. % 20 have surplus % gold. lat h.
did not concur In TIE statement Of the gentleman from
Ohio t'ardrd); II tie proposition now pending should
not b. accepted, BE- would move amendment author
i1iugt tie Secretary ~ the Treasury 20 anticipate tie
pay Hcn Of Gre July interest from time 70 time AZ the
rate OF SIS per cent I'm gold. and thus redeem the cOu.
pODt The true way 70 relieve the lIeas1iy OK it, sur
Plus % coin was 10 pay II Out IN THE way. II
TERShyDO WOOD DEN. n. y deprecated The
character OF that species o legislation and Executive
action whici resor.d t. these Temporary eXpcdieus
While he did moi picpoao - dlscu's The Immediate II
guegion before the ouFe IN factiou- partisan spirit II
candor compelled tm 10 sag that The urdamota. error
was in thc financial system adopted b. the Adm!l ifa
tion. II wac uasfd on an Witry iaise frLcpe. IL II
was ueller safc. IL hal been IN 10y other II
couutTic' AID frequent! by cu'oprisiug al street
Guarcafs and IN every case hn'. led tDiikr results Il
naney. min bankruptcy and Population. There wns
no mystery IN tins question n Was tmpl Hhc.hef hn
individual government could -1 "a. lt-eli long |
10y rrlyirE upon iNfIo"lug hnu noe Nroi it"Niibto
s0nrcrs 81 rcsoluo He appealed c the reIr seneiyes
NJ the Government 80 bling forward souoPropoi,ons
which would enable us 10 pass hTough ht present ter
Tbe ordeal without bankruptcy and ruin. DO imminent
l,nger ~ collapse IN tle ruho credit 3h0d admoDish
{, en- that by mathematical calculations mother three
years End VI not only m,y have ten year o this war
vii end IN me collapse q, tne treasury, tn IN lao pros
tratiol az i the rational inter- 81 Of the fOTlr.
Mr. EAfsOy OJn, Iowa) would 50 far dfart from the
Question 40 ~ fhd; ~ No gentleman who lad Just
,a.en his seat aud lis friends Uoul oniayor 10 unite
Tie North in solid plomx 10 slppTcsstho Rebellion
by fore oil armf the .olcrs for Gh0u tlpso gortemen
profess 90 sympeh.. would be- permitted 70 return
ga. H. H.. I'd lfssf ou