New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1866-03-17

such resolution.
Mr.. Ross-I should rather he (Mr. Wentworth
should be chairman Of such committee than YOU
object.
| CHARLESTON AND LIVERPOOL STEAMERS.
Mr.. KELsoN (Mo) introduced bill to authorize the
establishment Of Ocean Mail Steamship service be-
tween the ports Of Charleston. s. Ca and Liverpool BY
way Of Queenstown, Great Britain; which was read
twice and referred to the Committee on the P0sOce
PURCHASE OF THE ILLINOIS
Mr.. TAYLOR IN. W introduced resolution which
adopted directing the Secretary Of War to report
the facts in relation to the purchase OF the steamship
the Quarterma ster General and Secretary Of War.
ANNALS OF CONGRESS"
Mr. STEVENS QPenn) asked leave to introduce reso'
luton instructng the Committee on Claims to inquire
what disposition should be made OF the publication
called Annals Of Congress" deposited by Gales aud
Seaton under alleged contract with the house an0
to determine whether the same or any part OF tnem
should be returned and. If any part OF them shan Do
retained, at wha. price they should be paid for.
Mr.. WILSON objected.
FULLER ACT. DAWSON
Mr. DAWES presented papers in the contested election
case of Fuller agt Dawson which was referred to the
Committee on Elections.
WESTERN INTERESTS.
Mr. HUBBARD Uowa) offered resolution which was
adopted instructing the Committee on Indian Affairs
to inquire into the expedency OF concentrating the
different tribes OF the Dakotah or Sioux INDIANS on ond
reservation. -,
Mr. HoLBRooK idaho introduced bills to establish .
postroate from Idaho City to Rocky Bar in the Ter
rtory of Idaho and to create the office OF Surveyor:
General Of that Territory, which were read twice ana
referred
Mr. BRApFoRp Colorado introduced bill in relation
to the Colorado Land District, which was read TWICE
and referred TO the Committee on Territories
Mr. HENDERSON COregon) presented joint resclu-
port Of entry at Portland; in reference to the Pro.
visonal debt and In reference TO daily
mail route to the Territory Of Idaho which were all ap-
CONSTRUCTION OF THE ARMY APPROPRIATION BILL.
Mr. HAYES Ohio introduced joint resolution to
construe the fourth section of the army appropriation
funo IN IN
three months pay provided for therein all officers %
volunteers below the rank OF Brigadier General, who
were In the service ateas three years aud whose res'
ignaons were presented and accepted after the sur:
reader of Lee in April 1865 which read twice and
referred to the Committee on Military Affairs.
The SPEAKER proceeded 10 eau committees ior Ie'
ports OF private character.
LAND CLAIMS IN ST. LOUIS.
Mr.. THAYER, from the Committee on Private Lana
Claims reported back an act authorizing documentary
evidence titles to be furnished to the owners Of ceE.
tain lands in the City of ST. Louis He explained tie
object OF the bill and the importance Of its to
most of the property OF ST. Louis The bill was
passed.
THE LOAN BILL.
At the expiration Of the morning hour there being no
business the private calendar Gan unprecedented cir
cumstance). the House resumed the consideration u
the Loan bill.
Mr. PIKE said he would offer an amendment to the
BILL providing that any bonds issued hereafter except
those issued in accordance with the existing obge.
TONS should be subject to the same State and municipal
taxation as other property OF like value ne saa no
Wentworth) the score OF deprecated currency.
Congress entered upon the of rredeemabie paper
knowing the danger Of the voyage 1t was about TO take
Il was fully argued by Valandgham and others on the
other side OF the House The John Law French assig-
mats and mendats and Russian rolbes and other
currency that below par fully described.
and the prediction was freely made that it would be-
come as worthless the old Continental currency or
which hundred dollars had been offered for break
M and M Congress s5G us sstS from Ss
food of paper, but greater had been averted AS to
sgislatng for against gold gamblers It was non
sense TO make the attempt But as many were inter:
esed for fall Of gold for rise. part one way and
part the other Instead following the plan advocated
BY the gentleman from Illinois, Congressman would
act more wisely to legislate for their constituents
The only legislation gold gamblers could be made to
feel was taxation. The problem to be solved by the
bill was the proper mode OF returning
Hou. s1P Sy rs resolutions Of Ss 18th
approved that policy. The question was how 10 carry
The given the % oy tine O e we're
them be given He had full faith in the present sec
this hi, II he was sure the Secretary in these ohangs
ing times would continue 70 hold the place and not give
way to somebody when Justification was less apparent.
The bill proceeded the assumption that 1t IS abso-
utey necessary to contract the currency BY coercion
But the ordinary Of business transactions tended
so rapidly in that way that 1t might be doubtful whethef
legislation would not be injurious than beneficial
We had already gone from 2s7 to 100 for gold witboue
the aid Of any such legislation. More than three
the Journey has been performed, SHOWING
hatt is possible 10 60 through the whole Of IL without
legislative assistance. Thus far the currency has NOT
legally been contracted single dollar In this we fo-
lowed the English example where 1t is well known
that specie payments were resumed after the
long Napoleonc wars without any material con-
traction Of the currency. To-day our author:
lied currency 10 greater than ever before ana
still gold declines. The present amount OF currency
actually In use is less than e5C000 o00 The Controller
fixed the amount, In his annual report, at 500
The currency authorized is fully $e0000o,00o. Tha
statement shows forciby that trade knowsi its own
needs Business took for its use but fveeighths OF the
amount offered TO it by Government 1t knew better
than Congress what it wanted. Before the war egis-
Iaton never fixed the amount OF currency Bank chart
ers conld be had for the asking and men put out az
much currency they could make it profitable to keep
sfoa The laws of trade regulate such matters better
than legislation. Whether the present currency II
actually in excess it is difficult to say. France has
circulation Of about s07 600 0O0 or about SO per head
Great Britain has 800 COO or about s2o per bead
Ours is but half as much theirs proportonatey We
have much more than before the war; but We have an
enlarged volume of trade greater agrcuturaI produc-
tous more manufactures, daily Developments OF natu.
raj wealth increased population and larger capacity Tor
Transportation. We need more paper for all this az
well as in OF the different methods OF dona
business. But If necessary TO contract we should
begin. Tho resolution OF December 10 proviaee
for contraction fast as the business: wants Of the
country would permit. But which should Da
contractedf We have three currences United SIatea
currency including postal ei5o eJe l07 National banH
about 100000 900. Total. s76s, o32.0l7. The State
bank circulation goes frst What nexti Why not tag
the National Bank circulation. aud drive that out as
far ss may be found necessary 70 eontraet WA! cue
down greenbacks when they cost nothing except the
charge OF making them The people are satisfied with
this currency 1t is exceedingly convenient Why
not make it the permanent circulation OF the coantryt
Why give tho profits on circulation to Dapkersf IL
will cost k27 900 year to drive out the Govern:
ment notes. The taxpayers are already bufdened
sufficiently without trying this foolish experiment..