Weekly national intelligencer., 1864-03-17

| lntp uhe business OF speculation. a
Mr. HOOPER d ff-red from the views which had been
expressed by gentlemen The bill now before them L.
th0rz the Secretary of the Treasury sell any surplus
com over and above what required to pay the interest
on the public bt and for other purposes Since he last
addressed the House, he had made careful exami
nation OF the Hars If the Treasury There was now ON
hand twenty two millions OF coin and assuming the pre-
sent basis a calculation there will be in ths Treasury
forty five mlhns of gold on the first day of July neKt
and after peying the required OF IT, there will be
excees of twenty millions So all obiea ious can bs met
aod this amount disposed OF the bill proposes. He
urged at some length The concurrence of the House in the
Senate's snendments.
Mr.. STEVEnS moved that the House adjourn saving
that il ID now did this subject would come up as un
hDished business To- morrow.
The House, at half-psst four o'clock, adjourned.
The House resumed the consideration of the gold bill
meet authorizing the Secretary of the Treasury sell the
surplus gold of the Government The pending question
was agreeing to tbs amendment
Mr.. GRlSWOLD said that having bean brought in
contact with business men gold specultors in New
York they generay cncurred in the hope that Sec-
fetary OF the Treasury would be authorzei to sell the
snrplus gold The only question t, the means by
which tire coin was to be taken OF the Treasury The
gentleman from Massachusetts (Mr BoUTwRLL) yester-
day said the Secretary had not recommended t
Bot he mr. GRIswoLD) believed the Secretary hsd sent
letter to the Committee Of Ways and Means asking for
the authority to sell
Mr. BOUTWELL, here caused to be read letter ad-
dressed 10 I'm by Secretary Chase which the Secretary
says he was iatormed this morning that Mr.. BOUTWELL,
under the impression that he Indifferent 10 the
gold bill as amended by the Senate. His views
expressed 70 the Committee of Ways aid Means on tie
l9h ritmo, 10 favor Of giving him authority sell sur
plus gold Hs thought thst time, az ha did now that
such authority would tend TO speculation and pre-
vent sudden fluctuations the gold market The nf
such power might butte this desirable end His
opinions unchanged
Mr.. GRI5WULD resumed his remarks saying that
having confidence IN the patriotism .pd integrity of the
Secretary of the Treasury he would c the him with the
power desired The present price of gold merely specu-
atve. We have almost much fear from the army Of
kD- IRA N o. Hs front tho nUrfr.h .hela
Mr.. HUBBARD answering The obi sctlons of geutle-
who had opposed the bill, said the Secretary could
not erdanger the credit of the country any by the
power proposed to BE- conferred by this than by
the power with which he was invested. He could
not borrow from England France if they would send
their money The only way to pantain the credit
OF be aion was by relying, with boldnes and frmness
on our own resources If more moDey wanted,
must cnntuoe tax ourselves still more and the people
would continue 10 pay.
Mr.. BROOMALL remarked that be had voted steadily
against this from he beginning, and be would
steadily vote against il TO the end The power proposed
to be given wholly unnecessary The only parties
who need h7 gold the importing merchants Looking
upon importatious the evils of he day.
hs was wiling 70 LEI gold remsin up till importatcns
down. This would relieve the pressure. Ii there is
surplus OF gold ia the Treasury let the Secretary seek
out aad pay honest creditors. The bill would be wholly
Intellectual to FIX the pce Of gold The Secretary Of the
Treasury the best that could be put in the
he occupcs but he could not individually, affect the
sale ot gold the spectators gsniug knowledge Of the
tune this would take place through agent would been
this bill would Be adisgrace 10 was reputation.
Mr. NORRIS did not profess to understand every thing
reains 10 the finances and therefore be deferred to the
judgment Of those who have full knowledge o the subject
The Secretary Of the Treasury has reputation for sk
asiuteness patriotism and ability for conducting the nan-
csl sfsrs Of the country ami therefore, be obliged
to respect the request Of that officer that the power
sell the surplus gold be conferred
Mr.. DENNISON said we should not make pro ft ont
Of our broken promises The money proposed to be sod
appropriated by law to our creditors an therefore
should not violate the pgh@d faith Of the Govern
ment IL proposed so turn the Treasury into bro
kers shop with the sign Uncurrent funds are bought
and sold this DepsFtment He protested against such
prostitution Of power and regretted that Govern
ment should he reduced to this Disgrace
Mr.. WOODBRIDGE gave the reasons why be sup
ported the bill which, he bseeedS if passed would de-
preciae the price Of gold FIVE ten per cent The Com
mttee of Ways and Means should bring in bill taxing
the people to obyate the further emission Of paper
Then let g. ii Grant, who is the most piounent
military he country, be sent for u l-nd the well
discplirei Amy Of the Potomac against General Lee
combination Of victry with the depreciation OF the price
oi gold, and the means of carrying on the war by taxing
the property If the coutr would have the effect OF re-
ducng geld to forty forty two cents the highest price
il sh,uld bear in war
Mr GARFIELD said the sinking OF the funded debt
ana the anticipation OF the payment Interest failures
The only wby left to stnp afng and bartering IN
gold While the Secretary main aims iuvioats the credit
of the Government he should be permitted to ke the
residue of he IA and held it the heads Of the gold
specul.prs aid keep them back from presnmptuous sins,
that they mey not bear rule We ought to give
the Secretary power 10 protect from the bulls and bears
Of Wall street
Mr.. DAVIS said speculation merely gambling in
paper for the price o gold. We are importing hundr.d
millions year. winch has bo pad TO foreign countries
gold which, by aV, hlve declared sacgety reserved
for the payment Of the public debt The House was Gu
desvor1v b. 20 what could not be done by legislation
Mr.. PRICE maintaiued that the assurance that the
interest the public debt would be paid in CON the
bonds value than when they fret issued Re
this foundation aud the superstruoure of cur credit
fails. The money ought t. be Ectsined TO meet the obgs
tiods tr which tie public faith is pledged
Mr. JAS ALLEN opposed the bill; regarding il as
coucycsi somewhere 10 speculate on the Gov
ernmen : old, For &c Goy-rnmeDt - 40 into the mar
k"t and buy up IT. promises would De dlshonorable
10 the Government aud t. those who administer its al
fairs.
Mr. HUBBARD offered an amendment pro-
yded that ths obligation 70 create sinking fund by
the act rassed February 25ta -t2 shall DOT be impaired
thereby"
Mr. STEVENS, OF Pennsylyapa, expressed the hope
that the vote the bill would be taken early to-
morrow.
CThis bill was passed yesterday amended by the
Sena;e
REVOLUTIONARY PENSIONERS
Mr. LAW, Of Indiana from the Committee on Revou-
tonsry Pensions reported bill giving to esch oi the
revolutionary pensioners hundred dntis year, to com
from the rst OF January, 1864 aud to continue
during their natural lives IN add ion to the pensions 10
which they entitled u1der former acts o Congress
Mr.. FARNSWORrH desired to know how many sucn
pc sicuers thero naw
Mr.. LAW replied that only twelve renamed, ann tnas
the youngest o them was uueytwo and the od 20 one
hundred and FIVE and It not probable thai the PEN
| s0ns would en- iuus more than two years
Mr. STEVENS inquired VIII ther the pensions would
continue &, the wIinws of the pensioners
ata y ~ ~ vyyput not "A Ian