The Burlington weekly hawk-eye. [volume] (Burlington [Iowa]) 1860-1876, 1864-02-20
BURLINGTON WEEKLY HAWK EYE.

was opposed to it, for the reason that gold
was required AZ the basis for sustaining the
Government He argued that no nation
could live by borrowing, and when the ex-
penditure exceeds the income the result
will be bankruptcy, ruin and reputation.
| Mr.. KASSON explained that the resolu-
ton only proposes to appropriate the sur
plus gold beyond the wants of the Govern
ment, and did not extend beyond the sum
required by law to preserve the public
! faith. While il was true the resolution
gives discretion to the Secretary TO sell the
gold, it was absolutely necessary that it
should be SO. No one could say that the
Secretary of the Treasury had not observed
all his obligations.
Mr.. PENDLETON, a member or the
Committee on Ways and Means, differed
in opinion with the Committee. The
amount to be realized would be small and
offered but little relief The Secretary of
the Treasury now has power to buy gold,
and he, Pendleton, would not trust any
officer with the power to sell gold, thus
giving him the opportunity to raise or de-
press the market at his own particular
pleasure.
! Mr.. MALLORY OF Ky. announced the
fact that the Secretary has not asked for
this power.
Mr.. PENDLE1ON said, in the course Of
| four months we will have to pay as inter-
|
hand.
| Mr.. BROOKS said that by the public re-
cord gold is selling that is pledged to pay
| the public debt 1t cannot be denied with
GU; violation of faith. Ii remedy is
sought for relieving the Treasury Of its
surplus, let the July interest on the public
debt be anticipated. The President has
| the sword, and through the Secretary Of
the Treasury the purse, and he stands the
impersonation of despotism, if he chooses
to use power. AT the conclusion of his re-
marks, Mr.. Brooks earnestly appealed TO
gentlemen to stand by specie basis.
Mr.. HERMAN opposed the resolution,
because he believed it u violation of the
pub faith.
Mr.. COX advocated the amendment that
the sale of gold shall be by bids, with at
least five days notice given.
On motion of Mr.. STEVENS, the reso-
luton pending the amendments was sub
mitted to the Committee on Ways and
Means, TO be reported back tomorrow.
Mr.. CLAY, of Ky, introduced bill
which was referred to the Committee on
Ways and Means, providing that when a
special express contract has been made
since Jan. LIST, 1862, or shall hereafter be
made upon the deposit or loan in gold,
for the payment of such loan or deposit in
gold, nothing shall be a legal tender for the
discharge of such contract, or Of any judg-
to the contrary notwithstanding.
Mr.. GARFIELD introduced bin which
was referred to the Committee on Military
Affairs, to organize regiment OF veteran
volunteer engineers.
A joint resolution, explanatory Of certain
acts of Congress relative to the So bounty,
was reported from the Military Committee
and passed.
The bill establishing Freedman's Blu
reau was taken up, but without action the
House adjourned.
Mr.. GARFIELD advocated the sale. say
ing that, according to his estimate. there
would be in the Treasury, the lst Of July,
S50,000.0 900 in gold over and above what is
required to pay the interest on the public
debt.
Mr.. BOUTWELL, offered an amendment
that the Secretary of the Treasury be au
thoriZed to anticipate the payment III gold,
of the interest on the public debt at the rate
of six per cent.
SENATE.-Mr. UPHAM, from the Com
mittee of Conference on the part OF the Sem
ate, on the Enrolment BILL made "A report
which, after "A partial reading, was made
the order OF the day for tomorrow. The
House provision for $500 Communication, is
agreed to- with provso that it shall ex
empt for no longer than one year, and that
at the expiration of that tine such persons
shall again be Liable to the draft. The bill
as reported also provides that free colorcd
persons, who may be drafted, shall not be
assigned as State troops, but shall be mus
tered into the service as United States col
ored volunteers OF the District OF Columbia.
The Senate went into Executive session,
and then adjourned.