New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1864-03-05

tarys declarations respecting the amount of circulation
he had Issued and .houd ssue, the fullest credit Hold
ing the report IN his hand, be continued;
Page presents an estimate Of the condition n the
pub finances 1p to the LIST of July, 1904 and the est
mated total debt up 10 the LIST of July 1865 On July
ls6t that deb, will be 81 OF which eiO0 GO9-
Oc is cnrreao7 On the lst of July. 1865 II will be
s. 23l g35 lgp Of which 500 600 600 giH sill be cur
c.aey. peducting this currency from tho debt. tho
Funded debt of the United States viii in Jnly 1865 be
81 gu ga 100 | class all tut the 800 eco coo legal
tender as funded debt and assume that the extreme
limit of this kind Of money has been Tcachod-tLs II Kill
neccr Dc src,ed>d"
The orator practically famihsc with banking. and
knowing mans WAYS with money and his passion Tor
interest and weakness for coupels demonstrated this
proposition in the clearest manner He showed that
the 1900 600 600 Legal Tendo, cent like tho
Funded Debt merchantable commodity, partasng OF
the character OF the English ExeheQuer bills rising and
falling in price with the value Of mOncy-1creasng IN
vane daily with the augmentation Of inioost-foatns
currency few days after being issued bnt presently
absorbed and gone from the market ne. " reapPcsx
W til presented for payment maturity In the Same
amer he showea that the Debt Certificates were BOT
currency they arc bought and SOLD Tor invest
gent and as marketable commodities and occupy p-e-
isey the relation - Capital that tho Iroussofy
Note occupies Tho Lcng Loan he next showed % be
like any other funded DEBT and when nc concludes ts
branch of has triumphant argument with the words
nd So Mr. Speaker out Of sixteen hundred pallOLs
Of debt TINS far oreatel but four hundred mihons rs
Currency" tho assent and iath OF the House fooWeu
him and the Copperhesds shruns back in their chairs
They shrunk deeper back under as manly robuEt OF INC
arguments and statements they had resored W win ue
hbe stely malicious purpose OF s' iihs INC Va
iproy ,dsnt speculation-Of Weakening sti more inc
puho confdenceof depreciating stil more the puDnc
|credof pushing still higirr the price Oh The pre-
cious meslsof increasing TO ett gieater eeg1ee .he
necessities Of the Government snd in the same proper
ton the burdens Of people already staggering under
their load Of BLOODY sacrifices great aDxietoS and ex
pensosand Of attempting 70 shTye the war arm oi the
country with predictions Of ns1onal bankruptcy ana re-
pudie,ion. He said;
Sir such prod ctons and statements causot be made
in tina House without damage To the publc credit ana
injury TO private interests Nor can they b. made with
out hurfuf inference tse hundreds IL Thousands oT
solsrs in the field FAR away from their homes and IN
the Dids. Of enemies Try look TO Congress 10 buDd
up the national credit 10 strengthen II u 1t s endsn'
eeYsl and 20 tortify il where 1t neds Qualification
lley wish 10 fcel a. ample supplies Of men and
money, until they can terminate the war suoeeSSDiJ
aIl honoruby. i symysthise with these sold"rs
With all my objections the present financial system
Of the country feoi % be duty To ;ustan i ur!l
tss is And think Sir thu, u Is "a, duty q
eperv tis House &c s Jealous and ndustrious IN
his labor 10 inspire tie Hblio eih cot Ed>Hot ~ tT.
CAcSes financial system and 10 enable III GouerrHeH; 10
negotiate rs loans. and -Gse ruth frorp'fHde ' 0esSa-
A0HS."
Had there been holaa in the ncigh orhood Of Yer.
aando Woods seat numerous chairs bad been vacated
s1Ger the ring Of those Democratic words VaoStcd
with unduatory haste sod hisses Of leTe.t taking
The orator then rose with his theme. and treated
naper money hike statesman as well a. banker lie
said:
been carried on with paper money. Ny judgmen- and
my experience teach that this country cannot hope
20 be exception TO fhis rule. therefore do no. pro
pose 10 dscnss the stem Of paper money nor 10 point
ont It's mperfections desire 10 nothing bat the
great facts that we are in the midst Of civil waf-tha
men and money nre essential to its the
Ne Of the nation must be sayedthe honor OF or aT
integrity OF the DATED States pre-
the authority Of the Federal Government vind
Gated. financial Csteml the offspring OF tins grcat
the past zhree years II is interviewer through every
part Of or industrial system. W. 'innot aeo1,A
re DoHid; ye ought rot &c aeosssA u u pe could we
mus, wait for peace prevail bcfG-c we undertake 20
pun down the struetre and build In Its place another
TO pHd>r,iRs and dstroy mo-, ~ouid bs 10 bhry hs
Sweeping onward In his nrgumen.to the poin. where
ne return 10 tse specie basis IA Mr. Chsses policy
the speaker declared
nv judgement the correct steps TO healthier and
sounder Of things. They ~ that any Demo
cIa considering the condition Of the country, and the
existence of fear civil war should expect or dem and
The Secretary has claim 20 the support OF this House
in his efforts to graytae toward more solid system of
finance So long seeks 10 carry out these prnci
pies shall support them. because. IN so dong, shall
support the best intrest Of commerce. shall
support the best int est Of all classes and conditions
Of my cou1trymen shall support the efforts OF the
10 CHECK expansion. ~ reduce 1ees. TO r..
strict speculation. to restore confidence to dimnsh
Mr. Snbbns neIt Endorsed Mr. Chaees National
Banking scheme calculated 10 strengthen the ma
tional credit 10 proYice mode and means Of selling
GoyernnsEt debts IA considerable quantities. and 10
prepare tn way for re sumption OF specie payments ana
the gradual displacement Of the legal sender And this
RESUMPTION Of specie payments. he believed, would
take place through the Influence Of the National Bank
ing Law without any Of tie disorders and oofvusons
which alwIys heretofore have followed great financial
He uttered his faith in the Funded Americsn Debt,
and based tie faith Of the People in the bonds OF the
limited States with economical truth welits rhetor
cn beauty; die plowed fields and the homesteads be-
tween the tantic and the Missouri the public do
main Of tholsand MILLION Of square miles vest Of the
..ow ayuttl 1a fFtfnH tls NJ pn1 iron
copper silver and godon It's Pacific Railroad 10 ira
verse and cut through this bed Of eternal wealth and 10
tap the commerce OF the Pacific word-os the cnisr
mise and inte gence Of the FREQ race that VIII buBd
This rad mine that wealth, and draw on hat Com
Uerce. 1T, a.,
basis OF their corntri's debt believe in 10 know
the great economical trnE that shiie from me year
1901 to 1851 the pOpatiOn o. France increased At 81
Der cent and THAI al Prussia Increased but ~ yer cent
ard that Of Eneianl l2l per cent the growth oi ppr
la.iOn in my country jgJ per cent know 100.
from the statistics Of the increase Of the National
wealth Of America tor the Ia ten years maj ~ LrI0I
the middle Atlantic carrying and manufacturing and
tho Western food producing States VIII surely have
ity five thousand millions " taxable properly ana ia
d eighty thousand millions Sir tho iCur hundred
rnisns OF Legal Tender divided equally nmong these
staes 20 be paid by them out OF Their Increased WeIth
ON 800 H. 100 alone would have been extingushed
in tbe ,rs n, months of lsG0 eud tie balance Of in
crease 81 wealth remaining on hand he the enormous
sum OF 81 900 600 90 Measured IL CONNECTION with
the Nations ability 10 pny ibis Lesu icndsr Dcpt or
Is wholly nnmportant Have not twenty five millions
VI Americans Endorsed this paper NJ wen as all the
Debt of the United States and is not this Endorsement
guaranteed by fOrtytwO millions OF Ansrlcahs thhkihe
and sboring In 1910; and Is not their guaranty under
written bv the ffty.Sx millions OF Americans or the
year 1870 backed up b. their accumulated wealth OF
$50 CO. CO0COO"
The orator seizing the Copperhead bugbear Of bank
rupcy aud reputation night by the neck, while denying
utterly the possibility Of their happening drew lessons
from the suspension Of payments by Indiana Illinois