Baltimore daily commercial. [volume] (Baltimore, Md.) 1865-1867, 1866-04-10
The Civil Rights Bill in the House
PASSAGE OF THE BILL OVER THE VETO.
SENATE.

MIR. Williams presented the petition of citizens of
oregon and Washington TerritOr;, praying that
their claims growing out Of the Indian war of 1855
may oe ADJUSTED ana paid Referred to the Commit-
tee on Claims.
Mr. sumner presented the petition of citizens of
Massachu:etts, praying for change in the tax on
imports, so as to protect home labor. Referred to
the Committee on Finance.
DISTRICT SUPREME COURT.
Mr Irumbgll presented the memorial of the
judges OF the Supreme Court of the District of Co
lumba, stating that no provision now exists by
which counsel appointed to, defend those who are
unable to provide one for themselves NAV he com-
pensaed and asking Congress to take such action as
to the Committee on the District of Coiumbia
Mr.. Morgan presented the concurrent resolutions
OF the Legislature OF New York relative to the re-
admission Of the lately rebelious States. Read and
BUREAU OF EDUCATION.
. Nr Anthony presented the petition of professors
IiShment OF National Bureau Of Education. Re-
ferred to the Committee on the Judiciary.
MT. Johnson presented the petition of the Numis-
matte Society of Philadelphia, asking q change in
the present mode of coinage. Referred to the Com
mittee on Finance.
BoUYTrEs.
Mr. Wilson. from the Committee on Military AZ
fairs, reported the House joint resolution giving con
structIon to the act providing for the payment of
was passed.
Mr.. Wilson. from the Committee on Military Af-
fairs, reported voraby the bill to reimburse the
state OF Pennsylvania for monies expended in rails
NATIONAL CURRENCY.
MIR sherman introduced bill to eQualiZe the dis
ributon of the national currency. Referred to the
Committee on Finance.
Mr.. Sherman introduced a bill to regulate the oc-
cupaOn of mineral lands and the right of pre-emp-
ton thereto. Referred to Committee on Miners and
Mining.
.wAREHoUsING GOODS.
Mr.. Morgan introduced bill to provide for the
erection of warehouses in the port of New York
subject to the quarantine laws of the State of New
York. Referred to the Committee on Commerce.
=. On motion of Mr. Poland. the bill to provide for
United States, was taken up and passed.
THE LOAN BILL.
On motion of Mr.. Fessenden, the bill to amend an
act entitled An act to provide ways and means to
support the Government" and commonly known as
the loan bill, was taken up.
MIR. Sherman of the opinion that this bill con-
11erred too much power on the Secretary of the
Treasury. Under it he had the absolute pow II to
mat our finances were IN much more tavorabl con-
dition than was generally supposed, aud essiy
existed for comforting the Secretary such absolute
power. The compound interest notes and 1905
would not mature before August '67.
Our income now from the Internal Revenue ia xes
and other sources, exceeded largely expenditures
Under the circumstances the right to reduce the cur
Tency should not be vested in the Secretary There
was nothing in the bill to restrain the Secretary from
accumuating IN the Treasury, two hundred millions
OF legal tender notes. and my opinion is that the
Secretary of the Treasury in carrying out his own
policy, will do There in the Treasury now more
money than has been before. Why is the reason
of this? 1t shows that he is carrying out his own
policy OF Contraction this he has the do
Notwithstanding the construction put the bill by the
House, and the fact that it not designed to con-
fer that power on him. With every respect for and
confidence in the integrity and ability of the present
incumbent of the Treasury. he opposed to giving
the power to man, to aectthe currency of the
country at his will to contract expand it at his
pleasure The business men of the country are
alarmed, as | know from letters, which | am daily
receiving and it is my serious belief that the appre
tensions of the etfectof this bill are materially affect
ing the business interests and prosperity of the
try There two provisions of this BILL giving
to
notes and bonds of the United States, even those
which are not duo for years.
The other power is to reduce at his will the cur
rency of the country, power which never given
to any Secretary before: He had proposed bill
with care, meeting his views the subject but did
II o confident that the House Of Representatives.
did not understand tho bill confer such power or
they would not have passed it.
Mr. EeSsenden said the reason probably that the
House Of Representatives did not understand the bill
as the Senator, was because heir imagination had
not taken so wide range. When peace came the
idea OF the secretary was that return should be had
to specie payments as possible and his policy
had been to bring that about as possible.
His (Mr Fs) objection to the bill was its weaknsss
not its strength. We should get back speediy
possible TO the ola system to specie payments, -
soon as it can be done with safety to the business in
teTeSs OF the country. This is about the effect and
substance of the BILL except that the
what the Secretary do. 1t is to be supposed that
the Secretary of the Treasury is an honest man and
sensible man in my opinion, he IS very honest and
lying effect the business of the country would be
produced by such action the Senator suggests he can
take 1t Is likely that as sensible man he will do it,
Just because he has the power. 1t would strike a
blow at credit if it was understood that the
present state Of our currency WAS to continue The
evils alluded to by the Senator are, in my opinion,
purely imaginary. | hope the bill will pass.
Mr.. Chandler said under this bill the Secretary
could do what he pleased with $2700000 900 of the
public debt The bill was evil and Only evil. Under
il there would be no limit speculation. He did not
k sReb v as IF 6 e Should
certainly would not consent to accept such. We do
not know that the present Secretary of the Treasury
will always continue in his position. have doubt
that he is honest, but do know that man who was
not honest could with the power which this bill gives
could make more money than any man in the United
Mr.. Anthony said his opinion it was not safe to
count on an increase in the receipts from internal
Mr. Anthony thought that the receipts would be less
than last year.
Mr.. Sherman again alluded to the enormous bal
ance in the Treasury and the fact Of the Secretary
retiring bonds and notes before they are due With
the great and growing prosperity of the country,
enormous resources, the cotton crop of the South,
&C., one doubted our ability to pay the national
debt at its maturity. lie willing to give the Sec
retary the power to provide for accruing il debted
ness, but could see necessity for this bill. He
thought that if the Secretary Of the Treasury would
sit in his chair, and issue his warrants to meet
ing Indebtedness the debt would take care Of itself.
60 far from thinking that tho future of the country
gloomy, he looked upon it joyous and full Of
hope The amount Of money in circulation was less
than thatin England or France. 1t was only S704,-
100000. He would repeat his opinion that if the
Secretary Of the Treasury would keep out of the
stock market, and pay his debts as they became
due the people of the United States would take care
of the currency.
Mr. Chandler was opposed to going out of the Uni
ted States to borrow money, and going on the Eng
lish and French Stock Exchange, cap in hand, and
begging for loan We had carr led on the war with
out foreign assistance and he should be mortified to
think should ask it now Ii would move TO strike
out either in the lth line OF first section, and or
elsewhere" in the l2th line of the saroe section.
Mr. Fessenden-There is nothing that to au-
thorze the contraction OF any foreign 1t is only
to render the Secretary independent O. Wall street
combination or any other combination.
Mr. JohnsOn-Thatis all.
Mr.. Guthrie said there was no one who had more
faith than he in the ability of the Government to pay
its debt, in fact in its ability to pay much if ne
ceSsary but he thought it eminenly just and proper
to provide for the payment of the debt as soon as
possible, and gave his hearty approval TO the policy
of the Secretary.
Mr.. Howe was opposed TO putting provision in
the bill to enable the Secretary to to foreign
tries and pedde the credit of the country. If such
necessity ever had existed, it did now He was
not one of those who thought it ever had existed.
Mr. Morgan said large discretionary power must
be lodged somewhere, and why not with the Secreta-
ry of the Treasury? 1t was no new thing to him.
Our debt unprecedentedly large, and measures
should be taken to reduce it. He expressed himself
as in favor of the policy of the Secretary,
no possible objection to 1t. 1t was very simple
remedy.
Mr.. Chandler said this bill was surrender of the
Treasury and all its safeguards into the hands Of one
man, power which no man on earth ever possessed
before II there any necessity would be willing
TO grant II, but there none; and why him alb
sOlute control the entire Indebtedness Of the
country? hat is condition? Our receipts less
ening the debt daily credit materially improved
anG Is improying daily. believe with the Senator
from Ohio tMr. Sherman, that if the Secretary will
only SIT behind his desk and pay the accruing oblga
tons everything will come right. | am sorry that
the Senator from Maine (Mr. Fessenden), seems so
anxious to press this bill to vote to-day. am de-
sirous that a full Senate should be present In my
opinion If passed. it will be the most dangerous bill
ever passed by Congress. | move Mr.. President,
to re-commit the bill to the Committee on Finance
Mr.. McDOugall said the late Secretary iChief JUS
tice CEaSe,4 never had any financial policy. The
present Secretary came into Office with the confidence
of all in his ability nancier and has established
policy. Senators seem unwilling 10 trust the Sec
reary but II is feature of republican governments
to trust public servants.
The question was then taken on the motion of Mr.
Chandler to recOmmit which was decided in the
negative.
Tie question was then taken on the amendment
offered by Mr.. Chandler, which was disagreed to By
vote of sc to g. those voting in the affirmative be-
ing Messrs. Chandler, Howard, Howe, Norton, Sher-
man and Wade.
The bill having been read three times, was passed
by the following vote
Ayes-Messrs. Anthony, Brown, Buckalew Clark,
Conness, Cowan, Cragin, Davis Doolittle Edmonds
Fessenden, Foster, Grimes, Guthrie, Harris John
son, KirkwOod, Lane, Of Ind, MeDougall, Morgan,
Morrill, Nesmith, Nye, Poland, Pomeroy, Riddle,
Sumner, Trumbull, Van Winkle Wiley, Williams
and Wilson-32.
Nays-Messrs Chandler. Howard, Howe. Norton,
Ramsey, Sherman and Wade.
1t is aa fpllOwsi
SEor1oY !. That the act entitled "An act to pro-
vide ways and means to support the Government"
approved March g. 1865, shall be extended and con-
srued authorize the Secretary of the Treasury at