New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1864-03-04
the expcn Auro Of the millions upor millions lavishy
appropr Ia,edt
The resolution for printing 900 copies Of the Agri'
cult mi Report was ordered to be printed

nv rcsont01 Tor printing tOOOO copies OF tfe Ayr
CUT mi Report was ordered 10 be printed
TIE SALE OF SURPLUS CONVENIENT GOLD.
The SPEAKER announced the next business before the
tuusc 20 be the adverse report Of the Committee OF
Ways and Means the bill authorizing the Secretary
Of the Treasury sell the surplus gold beyond the pub
lie vents and the demands Of law.
Mr. SrEBBNs Dem. N. Y. said that, IN the remarks
which be heretofore made he regarded the question in
other point of view than of interest 70 the Govern
meat He had felt constrained TO express his hostility
10 paper money system, but az was have always been
carried on Ulder such system. Judgment ard eApe-
Renee show that our country cannot be an exception 10
me rule We arc in the midst Of war; and the National
credit must be sustained IL all its integrity. The pres
eLt financial system is the offspring Of the necessity
whch bso grown up by the operations of three years
war Il Is interviewer with orr system and we ought
not TO dispense with it if We could To under
mine and destroy 1t was TO assis IN bringing tho
nation 20 ruin. He ia favor OF instructlns lne
Secretary of the Treasury TO sell AL the surplus eod
beyond the wants OF the Department lie desired MN
10 be instructed and reflection had confirmed nm III
the correctness Of his Judgment In the former deV"to
on this subject, statements were inade eaculhcu W
swell the current Of embarrassment and speculation
set higher price on the precious metals Just III tt
proportion to the burdens Of the people by the pcdic
tons OF national bankruptcy and rcTudiation IN ms
Judgment such statements could not he made without
damage both public and private interests and to our
army in the field, who iocS on Congress 10 srehstno
the public credit, in order that they may
receive supplies OF men and money until inc
war shall be successfully terminated. He protested
against the predictions as 10 financial emharrass
rcnis and bankruptcy and argued that there was
nothing in the condition. Of our debt TO Justify differ
ence If thrtyhIee and and third per cent Ms between
gold and paper. The PLANS % se Secretary comncndsu
themselves 10 his Judgment, and should be acceptable
10 oil Democrats and others for they we're demandro
by the necessities Of the The Secretary sought 10
establish more solid system AZ finance, and while the
Secretary stroye 70 carry ont Lis plans he Stebbih
would support them because. IN doing, he supported
and checked The undue depreciation OF paper
and, TO that extent diminished The public expenditgI
He proceeded TO show the unsoundncss of the dccara
ton that the country is the verge Of ruin lie womb
urge the Secretary of the Treasury 70 act promptly on
Che principle of his report, ai sell from day 20 ay o
bonds Of the Government other evidences OF pubc
debt TO any extent which may Dee necessary; ana ne ap
pcncd to the House to facilitate the operations oi the
Secretary in the most effective manher In The eo9f
Of his remarks Mr. St"bhns referred 10 Indiana ana IL
Hnois as illustrations If the wonderful recuperavo
power within State limits. which had recoye ed nom
former financial disasters, and now enjoyed hlgh stare
VI prosperity II tins was so of small community u
wtnd be so Of a great oue--of the United Stntrs-aDd
they will pay every dollar borrowed nnd expended to
perpeuate the strength OF the Goyenment ~ AL ~
graceful outlines lie also referred % the former &C.
precision of RI road stocks and bonds and Of their re-
cOycry from that condition. What was the difference
be- asked between the funded debt ola small community
and large In pTincipc' The only thing the coun
Try Lad 10 fear was the depreciation OF the s5UOpVU
OF ega'ender notes, which spectators sought 10 phce
at 81 per cent discount TO d.sarm and dheredt the
spectators should fnmiliarize the people with The
wealth and faith Of the nation. Take the example In
New York where the market Is Influenced by false re-
ports Speculation IL Carried on under the nhuence OF
this CITY and other points 10 influence the gamblers
speculaons. Electricity phys an important part IN tie
affairs OF men, IL concentrates and ~ nens lee the
incidents of human NE that those who would Judge the
pre-cn, by tho pes, cannot draw Irst conclusions
They must look 10 the time when men will zee with
clearer vision and helm the spectators hnd alarm
lists with shame and modification Every man, he con
tended was guilty of a crime who sought to diminish
the value Of the United States currency for while capt
talists thus prosper the masses suffer. We must
relieve the Government from being q hoarder
~
retention Of coin without participating In its
own ruin We should allay all fears as Ia the legal
tenders there were only 500 900 Of them, and not
600 600 CO., has 90 often been stated. The repre-
scntatyes Of the people should exhibit constantly The
absolute and power Of the nation 10 NEE, all
the emergencies Of this No parallel can be drawn
between this and other nations. France had issued
600 COO while have issued only 500 co. COO In
Nj Stebbins offered the following for tho pending
resolution:
Re.ted Tha, the Secretary Of the Treasury be and he
sufficient TO meet the payment. o. gold required by Awl 70
,s from time to time at public auction, aeI having given
Of the urpu, gold in the Treasury ,he United States, pro
rtde that the Secretary Of tue Treasury instead Of such
, ss u H. interest," Coupon Of ne nn State. ~seh by
LAW 1.s s:id ,1 s::' s
mr., FrsIoS (Un., N ~ offered the following as
substitute:
to eel rod or other coin received IN payment 9 u
hnge that may b. received by The ay'ns or ofe OF the
Treasury Of the United State. provided TIA, nothing herein
shall be construed to authorize the sale Of gold
other coin hand that may be received hereafter
"a sytn.n, Of Cnsomilouse duties.
SECTION D That the Secretary Of the Treasury be and he
anon he public dobt from time 10 time either with or With
u rebate o Interest upon the coupons. ss be msy deem
pedisnt.
Mr. FESroS spoke on the finances Of the country and
epelled tho arguments Of bic colleagues (Fernando
Mood and Brooks. lie said the Secretary Of tho
Treasury amid the greatest difficulties. had managed
Iur fiscal affairs with unnynled ability and snccess.
Public confidence had been Inspired and our credit hal
been secured during period Of civil commotion, peril
md expenditure hith,rto unknown. He said the o.
lancia strength Of the United States could not be
judged correctly by those prevailing In tuIoe met De
its basis largely In the property Of the country
10 lands and agricultural products, whose value Is not
adequately represented In money second, because Of
he labor Of men employed In agriculture and arts pro
luce here than In Europe. The industrious poor
md middle classes Of Europe coming to our shores
n the midst Of civil war In numbers that lind no para
e IN the history Of the Notion. II We merely estimate
he amount Of property that In brought over 10 our
{ reaches hundreds Of thousands annually But
TO this We add tho influx OF labor
expanding basis Of public credit altogether In
,apable OF estimation The man who speaks OF i'm.
Dending failure in financial affairs either ignorant
the facts mischcy0usy designs ~ awaken dstrust
md weaken the public credit. hope that a certain
,ass Of men. disappointed and eIaspcrated at the sue
of the Union and the progress Of liberty VIII not
vince malignant opposition by detractlOn OF our
public men, aud an attempt 10 depreciate our true
financial strength and success. In conclusion he said
with the Union maintained. the people united. and
irmly intrencbed In the highest and most perfect
liberty compatible with free Government. and the re-
OH 10 the whole people Of those industries which Gu
rich and elevate the of mankind We shall rise
nom the burden ofdebt aud from vast resources,
sttain the most ample wealth and independence known
10 &Iy nation. 4
Mr. HOLMAN Oem.. indy movei, as @ test vote that
The whole subject be laid on the table.
This was disagreed 10. 81 against -
Before taking further action on the above subject
THE WHISKY TAX.