Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1864-06-24

The Secretary of the Treasury is further nm
thorized 10 issue in lieu Of any bond heretofore
authorized by Law and not now issued in pnr.n.
auce thereof bonds similar to and in denomina-
ton hereby authorized All treasury notes o,h,,
than United States notes shall cease to be leesi
tender on the payment of public or private in
debtedness on and after October |. 1864. and M
treasury notes made legal tender other than II
5 notes, shall hereafter be issued or re issued.
nor shall the total amour, Of U S. notes issued
or 10 be issued ever exceed 81 900 900 600. and
such additional SUN not exceeding $50 900 900
a. NAV be temporarily required for the redemn-
tion of a Temporary loan.
Mr. Pomeroy said the present advance in gold
is cot the result Of speculation. and is not to be
obviated by the temporary expedients, but by the
return, i'm practice rs we'll as in theory. 10 the
policy of gold values established in 1869
With the amount OF paper currency in circulation
the issuing of interest bearing notes would add
nothing 10 the value of paper MONEY! and could
only work mischief The policy Of 1862, of ad-
herring to gold values. must be returned TO. as
the theory advocated by the chairman of the COM
mittee on WAYS and means. Mr.. Stevens, adopted.
namely:
Regulating the payment Of Interest in gold
and reyng entirely upon the issue of govern.
ment paper, the effect of the present imitation
people
The fatal mistake of the Secretary of the
Treasury was in abandoning the per cent 20
loan and attempting to float a 5 per cent bond
and upon its failure restoring the interest bear
ing legal tenders. and on the part OF Congress in
not speedily supplying efficient system of tax
alton IL was still possible. by adhering to cor
rect natural laws. TO restore the credit of the
country to a healthy condition
Mr. Stevens said be did not agree with the
committee of ways and means. and hence had
offered substitute for the first section of the
bill
The question having been taken. the substitute
of Mr. Pomeroy for the second section of the bill
as given above was adopted BY yeas 65. NAYS A.
After considerable debate, the Committee of
the Whole acted upon aud agreed to Mr.. Stevens
substitute for the first section-ayes ~. nays 81
The House also refused TO concur in Mr. Pome
rows substitute for the second section by vote
Of "A against ST.
The bill was then passed without division,
the yeas and nays having been demanded and
refused
The bill authorizes the Secretary of the Treas
ury to borrow. from time TO time. on the credit
of the United States. $500, 600 600; to issue
therefor coupon and registered bonds of the U
s., redeemabe at the pleasure of the Govern
men after any period not less than FIVE nor more
than thirty years
SENATE
Mr. Collamer reported the House bill to es.
tablish certain post roads Passed
Mr. Wilson reported the bill for the examina.
ton of certain officers OF the army, and recon-
mended concurrence in the amendments of the
House Agreedto.
Mr Wilson also reported bill to amend the
act To provide for the payment of horses and other
property destroyed in the military service of the
United States Passed
Mr.. Sherman reported the House bill To amend
an act providing for the deficiency in the pay of
officers and men in the western department of
Missouri
Mr., Powell offered resolution of inquiry as to
the suppression of the Cincinnati Enquirer in
the State OF Kentucky by military orders Reso
luton ordered to be printed.
House bill to repeal the fugitive slave law was
then taken up "a unfinished business
Mr. Davis addressed the Senate az loneth IN
opposition the bill
Mr. Brooks of New York, called attention TO
the TACT that the bill provides one per cent for
the necessary expenses of engraving. printing,
preparing and issuing the the U ) notes TO
Treasury notes. fractional notes and bonds, and
OF dsposing OF the same To subscribers and pur.
chasers
He said only few DAYS ago SIin. 900 were
appropriated for similar purposes, and the
whole amount 10 be printed under this bill was
six hundred and tour milton dollars. the one per
cent, would makea sum total OF over four NIL
lions. II could be done for "A great deal less.
He himself would print the public money for
onc.ibnth of that sum
On motion OF Mr. Brooks. mn amendment was
made To the effect that the imprint of the seal of
Treasury Department shall be made in "A room
apart from the printing bureau.