New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1864-03-15

vGte letter written ty nrrn enppolter Ol thc n,pup
from this meas .ne and stating that the bil IN u OIL
inally passed the House, authorizing tue oecIeth; "
Anticipate the payment Of the pubc interest," TG nn'
sufficient and The best and only remedy, aLd this op
ION was expressed after the writer had cons He WIN
able and intelligent men, and noting gold speena.!hg
ciques No matter how the secretary Mny aei; 'nei'
will continue to be specializing in gold III he sells OUT
gold will 20 down and spectators buy ~ am Tue r,"
spectators viii then put up its price 10 aathol1e le
power now proposed was tae nrsI sIp ,GWIu @
ton and be would give a vote that would give
power 10 the Government to dab5o IN stocks WIZ eoi
! sir. PRUyS dem, ~ " said n lew days ago the
House by decided vote provided merely for anticplt
ing the payment Of interest en- the public DEBT !le
Sanate Il appeared added an amendment authorizing
the Secretary Of the Treasury ~ zen lhc surplus sou
The question was whether anything had occurred SINCE
the House took lis vote now induce IL 10 change ls
ground The idea that the action OF inc House hpleu
The rise IN gold few days ago vas entreY Hb'oun'ou
they were then wrong they should now change tier
curse bat not otherwise. By the act Of 1902 the pay
neut OF interest on The public dcbt ana one per cehu
toward tho sinking fund would take tho surplus goIu
out 81 the iroasuTy. The on'y result G; tho measure
os /, came from the Senate must be mischief. HIS
coli, ,ague (Mr. S.ebbin) days ago did not sue
coed IN conyncin- him thut matter what might
be TIE extent Of the public debt there sihceney
" resources 20 meet II, ybcrc was limit IT, thc
credit u 0venSeht az vel a. to that Oi an lhd'1-
uai The limit must he reached. II must stop some.
where He repeated We ought not 10 get mo nifhc'
- shave own psper. tie objected 10 placing tue
power proposed in the hands Of sny one irn ahd *
pressed the hone that the House would stand by the
aiding the Secretary Of the Treasury to anticipate liz
jelest on ;he public debt
/ ". Cox sad when tie pgopogi ion authorizing the
Secretary Of the Treasury 20 sell gold was first brought
before the House. Le and hs friends objected to ITS con
sid Grafton. II was thea charged by TIE lRiB NJ taat
they were ia the ntarcet OF ockVbb"fr II 80, TOO
gentleman IRON Massachusetts, (joutweiD Was IN the
sai1o company. Tie in favor II the proposition 20
authorize The Sccrc.ry 70 anticipate tho payment Ok
interest on the public debit II that necessary TO
reduce the amount OF gold IN the Treasury and because
that would be legal But he Was opposed to authorizing
him to scl ito gold Tho pfieo 81 goa was . not lot
] effected by legislation here. and II might go
IN or down for = time without power on their part
70 contr" u. They might ~ well ieghirle on
graytaon or hydrostates rs 10 attemptto me
laws II trade They might affect temporarily the mar
k,t bu. gold after OIL would seek II. proper Eel Inc
guards prevent .pecalaton had bren hFus hcd away
by the Scnatc. lie opposed comforting the authority
contained in the Senate amendment lie opposed II a.
man Jealous Of power II would give 10 the Sccre-
tary Of ne Treasury absolute power 10 control the inter
osts Of 30 eco GOO oi people lie hoped The iou-e W"hd
adhere t. its original position, HHd not yield 20 the
camors II kobbers aid brokers snd rehoed from
tbs Senate but siud up for straightforward measure
! rs commended By tie honest men ol tue iaud
! Mr.. ALLEY Un. Miss) would vote ,or the amend
O the senate believing The ineIcsa "i the Gov.
eminent aud country would be promoted BY It's adop-
Ion Although u might nos DO much, yet IL WGUd De
Tire Instrument Of doing something 20 check gold rccG
lt.on. By giving tho Secretary of tho Treasury the
pow sell gold might bo reduced ten or fifteen per
cont. No one exercised power IAoro wisely ad pau,
IDENTITY than the Secretary OF the Treasury. II nc Bad
not confidence in the honesty Of that officer he would
have doubt ~ 20 The poPie! OF the measure but
bgy.ag confidence IN him. and belleyiBR that IN BIS
Lands te authority would be productive 81 great good
and evil be Wiling 20 confer y. In TIC remarks
delivered by the gentleman irOm New ioTA Fernando
Wood Who detained home by sickness, II was tGli
VIC On the eve o; reputation. lie vas aHid THIS
" ISL Of the gentleman farther q the thought.
There only measure We viii hive t0 resort 60
VIZ, excessive taxation. II We tax INC p.ope as VIC
should. shall tie confidence Of the gdbc Ia
tie Ultimate payment Of our s.cnI.;,e-.
Mr.. HILBUAp said he hc.d IN ria hand letter from
Ia the CIV q Neg - Work winch he
stated that Il this measure, amended by tro Srnai"
slnll pas Il would 10 very large extent ri.e ne
price II lDd. He In favor ~ tue bill ~ II passed
the Hou. and appealed 70 gentlemen 20 pGnso b'"To
lucy conferred upon tie Secretary q! t15 Treasury
authority To soli gold as now proposed
| Mr. BOUTWELL, said thus tar tIe Secretary Of the
Treasury has not publicly cODnitted h.mson tn tho
passage 81 TINS lie wrs not opposed % giving
the Secretary 81 the Treasury authority O." ~' !"i p
Gauge he was not willing trust Elm, tGt nc Vas o.
posed to granting this power hceaHse ih'y have 20
~ az Ia ff,bt H. He believed tL.y had mora right
10 gran! i and II Lc satisfied Ley had the
right be- should think ungi-e IN The highest degree 10
agtEoryc exercise. They should consider the cues
ton With reference O the pfOoDynu"n 81 thr Nhf' m
In time Of PEACE they could not with better under
@ rs d s Rf sd sJhcy not rcqnred ior
date waGs Instead Of going into market and investing
. stocks. be would anticipate ,he payment Of lbs
ohy eons AM thus establish his credit; and should
be with Government and In the bill proposed by him. and
which had posed the House b.. applied ms sound
principle lie did not fear 10 nislsl aAy mnn niihsuch
power the Senate amendment proposed unless on The
ground II necessity AID there no Saca ncccs5iiy
| at tie present time.
Nj. ALLEY Inquired Of lis colleague whether 10 did
believe the 'act 81 the passage II the bill would
not have the effect Of chee king gold spocgtons.
the power proposed o. be conferred on the Secretary
should not he exercised
Mr. BOUTWELL, rrriicd that the chief oleruen, which
entered into speculation uncertainty nnd this
measure % tie S.Eat- introduced OF
i.Aiy. How could gohtl men disregard the pi"ig"
OF the public faith. setting apart the con tp tue pay
ment OF interest ana the gradual liquidation Al, tie
prneni of the doh' by converting tho roid 10 general
usrs. The Secretary wuuid nave cUundr another
the sale of th coin and be- did not know whether sach
agent would De Trustworthy Cr not.
Mr.. SLEEVES asayd whether The Secretary has 10
trust agcLts With the cus tody Ci gold.
MIR BOUTWELL, replied that IL diilrreut from sell
INK gold; for when II 10 De spd that fact would
become known aud thus speculate, would profit 10y II
In nd, ance. lie further Indicated his opposition The
Senate amendments.
Mr. HOOPER thought his colleague entirely mistaken
whc he said hey were about 10 divert tie coin hom
uAo purpose for which 10 reserved. Tie bill Is
originally introduced provided for comforting the
Secretary Of the IrrnsurY authority "a sell any surplus
gold necessary for the payment Of interest TIE
public debt ard for other pgrpgsps Sinr3 EC spoke tho
other day bee had made careful examination Of
The condition Of the TrrGsury. There was now hand
80 90 90 IN cola and according to estimate, after
5ayuy nearly $2 GO coo the fret 81 July next there
would he at that time of 10000 COO and 10y
the end Of the year. at the same rate Of receipts
$50, OU0OO0 50 aiter paying what is required by law
~ 90 90 may be disposed OF between nov anu July
without importing the cngations II the Treasury o
trusted the House would concur IN the amendment Of
The Senate.
ar STgyEss said that as other gentlemen desired 10
speak and as II the House adjourn now this subject
would come up as unfinished business tomorrow, he
made that motion.
/, was agreed to. and at n o'clock the House sd.
IOurnod.
CITY ITEMS.
DISTINGUISHED YIsIToR.-Brig. Gen J. w.