New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1866-03-16
the Secretary bad been compelled TO direct to De done
and to do those acts which possibly he mignt no

w thp ,JUllOIlry INllHIITge
offer such amendments 70 the Dii as Won" give ' "
demnity TO the Secretary IL war. 81, ,,., f,or,
Mr. WILSON Qowa) replied that the Judiciary Com.
mis.ee consiternga Dill looAihs I" TIC 'A
nifty to which the gentleman referred. .. .na
Mr.. COEKrING said he was very glad 70 near !" ""1
would vote for judicous bill on that SUBJECT mr..
Mr.. SHELLABARGER mentioned the case OF so,1e Pe,
sons being under indictment in Grant County NY, 'o
having in the arrest Of guerrilias shot one o.
them; and he stated that they would be tried con,
yicted and executed and asked whether this Dill
Mr. UaHpIyG wanted 10 know what authority the
gentleman had for reporting that these persons WYNN"
be condemned and executed.
NJ SUCILApARGgR gave as his authority, frst tho
fact that the persons were indicted; and second tho
fact that one Of them had made that statement 10 ni,
J based on what lie regarded as the state OF puohc
| opinion. A., 49,, ,s
| be removed ~ another county by ehanSe oI Feb'e'
Mr. Cook stated that tie bill would cover such case.
but if not its phraseolory could be changed 70 make
do Several eases Of the same deception n"u 'ee"
brought 10 toe attention OF the Committee
Tie morning hour having expired, the OH wen' o'er
! 70 the next mOrD!1g hour.
COMMITTEE APPOINTMENT.
| TIE SPEAKER obtained consent TO appoint tniro
member on the Committee on Enrolled Bills, aud APP
pointed Mr.. TrowDridge
PETITIONS.
| Mr. RAYMOND IN. y, presented petition oil inc
| Adams Express Company, praying for the passage OF
an act authorizing the issue 10 II OF legal tender noes
in place Of like notes destroyed by FIRE, which was aIso
referred to the Committee on Claims.
| Mr. RAYMOND presented petition Of Messrs. Ogden
orJ ,;otaan of NewYork. praying for a reduction Of
the duty barley imported from the British loyhce
which was referred TO the Committee on ways anu
Mr DARLING presented the petition of brewers in tho
| City Of NeB-York for reduction OF duty on oarev;
which referred TO the Committee on ways ana
Means.
THE LOAN BILL.
Tie House then proceeded. special order to the
consideration Of the loan bill.
Mr. MogRILI, from the Committee Oh WAYS and
Means reported the following amendment !" ne OH:
bonds which NAV be disposed of elsewhere than in the
United States may be made payable both principal and
interest," in the coin currency Of the country IN when
they are made payable bG. shall not bear rate OF III
terest exceeding five per Centlm per annun.
Mr. HULBURD addressed the House He referred, on
the opening of his remarks TO letter IRON tle Con-
troer OF the Treasury TO the Secretary OF the treasury
dated March TO- showing serious errors 10 the report OF
the Secretary TO the money on hand on the lst OK
March. The total amount returned oy the seeiety
was slO6 1850. The amount which the Controller
claims as being in the custody Of tie Secretary on the
lat March sl66, 76s,9ii, making discrepancy
between the two statements OF over fly millions.
Mr. Hulburd desired to have from the Chairman OF
tue Committee on Banking and Currency an explana.
ton Of this discrepancy.
Mr.. HooPER ,fass), in tie absence Of the Chairman
of the Committee and gave the explanation osked
The Secretary of the Treasury bad represented the
amount Of coin In the Treasury on tie lst 81 March as
So, 10000, and Of currency, S000)1Oe, making
total Of si50O0 CO. The letter to which the gentle
man from New.York referred stated thai that vas in
excusably erroneous aud that the Secr ary bad omit
ted to include the amount deposited in National oanks,
aud other items, amounting together 70 more than
SJJ0O00O0. the Committee OF Ways and Means hay-
ing that letter. bad appointed subcommittee 20
ascertain whether there was any foundation Tor tie
statement; that the subcommittee had learned
that the amount OF money in the National banks bad
been included IN the Secretsrys calculation, and Lad
made part OF the 900 reported by the Secre-
tary Therefore the Controller in adding that sun 81
So GEO. 600 in the National banks mistaken that
sam lad already been included. The Controller had
further stated that there amount OF United States
notes that had been retired bat which tAe Secretary
shOd not have retired but the fact was that they
retired He would not now go into the question
whether the Secretary he'd the authority 10 retire them.
Ii had been done and therefore, that amount was not in
the Treasury The Controller had then added a Of
81 800 900 for the difference between the amount Ot
Sevcn-thirtes purchased and Of Fige.twenty bonds
sold saying that that money should BE- IN the Treasury.
also because the Secretary hsd authority 10 maze
that disposition of the bonds bat the fact was that that
disposition had been made, and therefore that aQnnt
was not in the Treasury. The Controller had teeoad-
ied $4,000 900 for the value Of gold beyond currency;
that is If the Secretary undertook 10 sell BIS gold no
would get FOR premiums omit SIS 900 CO., The fact was
that the coin had not been Sold end therefore the
amount of premium could not be in the Treasury there
therefore reason to suppose that the monthly
statement Of the Secretary not entirely accurate.
mittee that Sis Geo Geo the correct amount in
the Treasury the first of March.
Mr. HuLBuED. after stating the amount Of the pres
Tent debt and the amount that will become due ID thu
next two wears swelling up TO near o, zoo OOQO0 said
provision must be made either by Immediate heavy tax
alton by funding He avOwed his belief that for the
present tie MAXIMUM Of taxation had probably been
reached. That If the system ably recommended by
the Revenue Commissioner, as he hoped. should be
adopted for years could be expected to yield our gov
eminent expenditures and interest on the public debt
only s1t7 coo per annGm, and resort must bo
had 10 funding. he examined at some length the loan
acts of June 1854 and Msrc0 1862 aud coutended that
they yet contained uneXhaustibe power sufficient TO
enable the Secretary Of tae Treasury TO fund all tie
outstanding eresbearng obligations Of the Govern
ment. This he thought should be sufficient. He stren-
uousy objected 20 granting the power IN addition TO
retire by paying or funding the nonnerest bearing
lie gal.tenders species Of currency everywhere pop
ular and acceptable until the short obligations
were provided for. In reference 10 the foreign
feature provso OF the bill he cOntended that as all
our short obligations held at home, The hold
ers able and would gladly receive in exchange
Five. Twenty bonds having long fixed term OF years
10 and that there was no necessity since war ex-
pendures had ceased that should go abroad bat IN
hand to borrow money. He pointed olt the danger OF
such a in foreign panic should take place.
He said stocks would be thrust back upon our mar
we too in the throes Of crisis. He said If the
loan offered and taken at five per cent. after COM
missions expenses, &C were deducted there would DO
very little saving Instead Of legisatilg inducements
for il to be taken abroad might regret we had not
more prevalent inducements 10 keep stocks at home
He examined at considerable length the bearing OF the
foreign feature upon the resumption OF specie payments
and failed 10 find a Justification OF IL even as q
preparation thereto lie contended there could
be resumption until the short obligations
OF the Government, ont Of the way that resuDp-
ton must be the Simultaneous act of the Government
and Of banks by CONT action of paper cir
culaton by economy by manufactures, and, Of COURSE
BY expectation Of surplus productions then there could
be resumption, and It could be maintained lie re-
ferred to the fact that after July State bank notes
wcud by taxation be drawn from circulation and that
that would produce contraction. perhaps a. much 40
the Secretary or business men would care to see In tho
country on Change. he objected that the bill con-
tinued in peace the vast war powers OF the Secretary
over the currency and the business Of the country He
thought the Secretary should give public notice OF kind