New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1864-03-12
xxxvssrsh CoNGaRss. PRS, scs.ion,
SENATE. WASHINGTON. March IL, leCi
RAIIPOAn FACILITIES.

| RAILROAD FACILITIES.
Mr.. MORGAN (Un.. n " presented memorials from
citizens Of Philadelphia for additional railroad facilities
between that city aud New-Y0rk. Referred 10 the
COMMITTEE on Post.O,ices and Roads.
nr WRIGHT offered similar memorials rom citizens
OF Nev-JeIsey.
! TAX Of niPoRTTD LIQUORS.
Mr.. CLARK UIn, n. H. submitted so much Of the act
to Increase the Internal Revenue, and for other par
poses pas. ed March lecI Imposes an additional
tax upon distilled spirits imported from foreign coun-
trea. Read twice and referred 10 the Committee on
Finance.
a message was received from the President OF the
United establishing the initial point of The Union
TTed to the coase on Sfe
AID FOR BRANCH OF THE PACIFIC RAILROAD.
A resolution Of Mr. LASR (Un, Kansas was agreed
TO- inGuring into the e1pediency o. providing aid for
branch of tho Pacific Railroad from WarreHsburg, in
Missouri 10 Emporia. in Kansas.
THE PAYMENT OF INTEREST on THE PUBLIC DIRT.
The Senate then took up the House Joint resolution to
authorize the Secretary Of the Treasury anticipate
the payment Of the interest On the public debt
Mr. HEsDsicKs Dem. Ind modified his amendment
lie seSr5ry hereby authorized dispose q any gold
o nsee , ,oa i1 p sgppe. or m ID. pyeS Of debts
he uni,'d Sites then egs pLfiss o ;ac yd p sa
received the yaue Of gold IN tie ciy OF NC" oh N com
pa4ison " IN legal tender notes.
| Mt HrxDRIcKs said re approved Of the purpose Of
distributing tie money IN he Treasury among ts P,o
ule I'm a proper and safe mode that nigh. again re-
turn 10 fc channel Of commerce IL his measures were
adopted the money would De paid out not IN very isTse
sums but the sustenance 81 the circuit o th. ppci
nent mig Int require. If there was ~ O1o 10 convey
10 Government creditor. he would as ne take the
gold al lie value legal tender ncte- The effect OF
Tho proposition Of the Senator from ONO would De 70
throw mon the country from S6OO0CoO % s@iOOWn
in gold The ultimate elect OF this he thought would
be 10 depreeac the price Of the currency Tor as coon
az the Government has withdrawn from the market up
GOES god again, u speculation then commences
The proposition he made was that the Secretary should
issue the gold in the ordinary course Of business OF che
Treasury Then If there was any great value In the
gold on hand the Treasury would reap tho advantage
II be would refer 70 the speech OF the senator from
New mpshirc, now absent he would have no aiii
Guilty in proving that the Navy Department had made
friends and fayortes rich. He might also refer 10 tho
fact that banking company had been made rch ny its
connection with the Treasury DepaTtmcn,tne hTia Oh
jaw Cooke & Co.-in its disposal OF the bonds OF the
Government These bonds might have been disposed
of on as good terms by the ordinary machinery OF The
Department If tho Secretary was gong TO sell .ls
desire attend he sale and what would be ms sur
prise 10 present the members Of the bankln9house
Of jay Cooke Co., rich from the;drippiDgs nom NC
Mr. SHERMAN Up.. Ohio would cay but few words
In reply ~ this unjust attack upon the secretary VI
Treasury. The Senator would pay out the gcid 70 we
contractors and forget entirely the claims Of the sol
dier lie did not sec why any class Of persons should
be selected for the purpose Of receiving this gold The
Senator knew well that II impossible TO set aside
his gold Ia the way be proposed under the rules of the
Department. Mr.. Sherman defended tho Secretary in
his action in placing the $50 loan ~ ihe hahds OF Jay
Cooke g. Co. He stated that the Secretary had made
the arrangement with them after Repeated failures TO
negotiate loans In New York except at ruinous rates
They procured the ten-miliicn loan On favorable
terms and the Secretary continued their agency
In the sale Of the $50 bonds. They were
taken by the people in all parts Of the country,
and the money caIno pouring INTO me treasury 70
riyuleis ard streams. The banks OF The country
knew that Jay, Cooke & Co. were employed to ncso-
tate and that they received eeghth Of one per cent
only while their agents received onequa.er o. one per
cent Out OF this meager per centage oil We banking
company came oil the expenses OF advertising tee-
graphing and expressing No loan had ever been ne.
goiated IN this OF other countries on more iaToioo
terms than the ewcny loan The fortunes ci these
bankers were made before the war commenced ana inc
Secretary was induced to employ them ior their bkbi
and sagacity and the result was an a1o ,S M
If Mr. Chase had gone 10 New.York and asked or the
loan IL could have been taken az she Lad only one
seventh of the money of the country. lie had an al
mrat!on for Louis Napoleon above some OF Ills conn'
trymen and he appealed from tho Paris Bourse TO the
people themselves to sustain tho national credit 80
with Secretary Chase. Instead Of going into the mar
ket of NewYork, he gave them only The same al ant
age lie gave TO other citizens Of the Union. lie De-
heyed that three millions Of people wcro interested Ia
the fyetweny" loan OF every class and Interest III
the country. .,
Mr.. HiNpRIcKs denied that his amendment provided
for any favored class lie proposed that tho Secretary
should take the gold at its value In New York ana pay
ing che contractor He would 30 further than the
Senator in paying the soldier tie equivalent Of thirteen
dollars in gold
the effect To check speculation In gold. He would vote
for the bill lie believed another and better way 70
check speculation in gold was for Congress 70 address
itself diligently to the perfection Of bills increasing the
revenue. -
Mr. SHERMAN said Mr.. Wilson seemed to forget that
all revenue bllg must originate in the House.
Mr.. FEssRNDEs (Un.. Me) knew that tho House
Committee were using all their endeayors ~ perfect
proper revenue measures.
Mr. WILSON Gun, Mass) had great confidence In
the Finance Committee and was glad to hear what he
had Just heard from the CHAIRMAN 1t could not pe DC
measure to the fact Of our inability to pay own ex
penses 60 along He believed 1t TO be the duty OF
Congress at the earliest possible moment TO double the
internal revenue OF the country.
The people were better able to pay an increased