New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1866-04-10
NETWORK, TUESDAY, APRIL 10, 1866.

tract lIo ala not believe the Secretary Of the Treasury
woui- The power given him uHder tiNs ON 70 ino
der lcut Of tho business interests Of the county, De-
nsto DO so would be 10 reduce tho income Of the Coy
Y CiA,p1rn sail that when wo had million Of men
in o. fch aud spending seven or el6At huloI-u
ilote year IL was Necessary 20 confer extraordinary
powes on the Secretary Of the Trcasnryi bnt that now
that To war was over there was 10 necessity ioI confer
/ ring .Lat power any longer no would nag a n'.S
iuTlir time 20 examine the b, but IL suItk mn uS
cy 10 conferred power which no man oug 10 accept.
There wrs 40 limit TO the amount OF speculation lA4'
| could or. yinate under the bill.
Mr.. j ssFxDES-Only to exchange ono kind Of bond
! for auotLer; that il all the power. f.,
hfr CHANDLER SAID there was power conferred 10 issue
l0year bonds in lieu Of five year bonds man VINO vas
rof borr' rosf.rr power under the BIZ, could make
more money under 10 than any man IN TINS country lau.
Mr. ANTHONY said that argument drawnirom present
returns OF the Internal Revenue was not SAFE 10 Iey
upon FOX the future In several articles Of m2nuacuue
tleI.cdpts would fall Of materially durns tue VoAnhs
Mr. SHERMAN replied to the argument of Mr. Fessen-
don that there was necessity for passing the Dill 10 en-
able the lry a tho Treasury TO meet present or ac
c.uirg indebtedness; the seyen.thrles W9uil uAuog.
edy be paid ia hye-twentes, which would postpone tho
payment OF tho principal for i've years lAor1 OF ior 70 ~
| The option of the Government. He could see no
! objection In passing the bill except to de-
| clare policy as Mr. FessendSn had sara,
tat the Secretary would not contract me currency Iqo
that was his ayowed policy, declared IN his reports lie
did uot think wise give the Secretary 80 muc pow
or lie dr Sherman had hopeful view OF tho iutute,
| believed
self lie expected TO 60 back to specie OASIS De. ne
cxpoctld TO do 20 without any material reduction of the
currency. The entire amount Of currency nov IN clreu-
tion was a70IG0000O. o did not believe this was SUI
parabundant No power on earth could keep gold from
going down. If the Secretary of the Treasury Eoud just
keep of the stock market, AID meet Indebtedness
when due, the people OF the United olutcS "Oti" t"A0
| care 81 the public debt.
M, CHAsDnR raoyed so TO amend The bill as to te-
strict the fae Of honda TO this country b. striking out the
words or elsewhere In the following sentence. And
ala . Of
said either in tie United States or elsewhere to such
! en- amount, &C.
amendment me words proposed TO b. stricken ont were
or "a The bills this subject. They did not proVide fof
foreign loan 1t simply that the secretary OF o
NY ,ht have the poHer 70 90 70 Europe 20 ' DouSi
when shore vas combination against Inn n W lliil
MIR enqafF snL in f~y"r e 'o i'ii' byh,lHs ~ ~
Dr. vice measure end c9nicIpg no more power on 'ho
S,v of the Treasury than ho ought 10 have IN orlei
{, cuauc hu. 90 perform bis dnty faithfully II ne Asa
Been in The riaoe Of the Secretary OF The Treasury ne
woad have done just the Secretary bad done ile on
rata. H. give no power that faithful officer ought not
/ 10 iava If the debt TO bs paid Mr.. hc'Wloch
mast have latitude and discretion lie had Known lne
stcctly ci the lfca ufy i"r years rs bl,r'li N ~
Lm iu Bank Conventions, and bad Always known MN as
| Gu lo.csf capable intelligent inanccr.
i,r How ofuod with lir Fosscudcn Is 20 the ncces-
.y Tor rcurlae to specie basis soon ae possible
DID iswr tho intention If tits Bill to enable tAe Secie
tay of tAc Treasury se bond for less tnan lts lace
10 us opposed Co allowing tIe Secretary OF tho treasury
tu ode bonds H foreign markets. lie did not bcle'e
J t.crc Ras any rsect. 10y i0rtI . %,
Mr IoaGs SOD ri. agreed a. 70 the object Of tho
BILL but tl.rc was question as tO tie time % would DO
e-clcll e. nance tie work proposed Il seemed 70
la 80 present favorable slime. Tho AguoAalD e9t
WIS unpf,ced. n,acy afse and ought 10 be reduced ne
/ oil tIss I-.,slly aad of bis exercising 10 now.
lir CowAS sd Doc was also in favor Of tho bill, and
c.i zee no objections to g.. 1t vas simply proposition
I o. rKrlanvr short securities for long ores.
b. Cu,suLEl sI tlo bin proposed to transfer moro
,9wer 30 ls Secretary o. tho Treasury Than Was ever re-.
! io.ad u ono man grdcr the Government lie agreed
D q . I..f fr hes
o. l.rI ,0q. go O. RIO u his Office aud aJ interest
lsi ecued and l. tl, national 0cb' take caro- q itself
DO lc bil would raf, or hc considered II tho
I mos lgrroIs h. ctsr presented 10 NoiDes' hn a'u
upg believe abs i..c4ols financial uau would acc pt mo
power contained ,ac t i rendered 70 iiui He moved
7 o., QUAINT OIL, h! o. fte FinafCr Committee.
.i.. 1., DCuolIL .,okc n favor II -fc b. Senators
lrd In. 40 900 amount II powog conferred by ths IN
Ifiift l remembered that Do foe Government can DO
tH.t.rf.4 without I,Itsig confidence "a tA"'o IT au-
/ th1nty.
81 tuNrIfr's notion 10 recommit disagreed 10.
TIE question itcl REQUIRED 10 amend, as stated above'
v vas disagreed 90, by te following VOC; leas'oi Nays
/ SO. Mons. Chandler, Hoso, Norton, sherman and
Wai, voted IN tle Affirmative Tho bal was t-oa passed
| -Negs, -; Nayr, AS follows;
YrAs-No,,rs Anthony. Brown Boo. ier CLARK Conncss
Cogsl CIaril D.ya D.ouo Edmlals Fssss.len, Foster
/ e.sraD Nrl.ae.M MORGAN Mor'u Ncsnltl Nye Po.
/ an'. fomsroy, RIDDLE sauaer, IrgGbul. Wan Win.ie
! Wr,y. Wiu,mslld Wilson,.
NAm-Aie,,rs. Chandler. Howard Howe Norton, Ramsey
As passed by both Houses and submitted 70 the Pres
\ dent tAa bill 90 follows:
IS &C. g. au,ld an act entitled Act Provide Ways
a.d Menus sOflOu tAo Government approved Miich
BsH1a9 D. - S,ge. and Hasr po,aiaiirs'o Of ths
U1l,d Hefes u rr.cf o. C1agrs dssmhfs Ihot the Not
crtj Act 90 Provide WHys and Means e. suppo the
Government, opp owed March let1 shdl te eh' ,u g4o
sfaed "a ,o the Secretary Of the Treasury a. his ds
clctuu receive Treasury notes n other Obligations
Issued gudo 81 Congress whether bearing niees, or
rot n exchange for any description Of bonus h-I9"u Wy
tie Act 10 which meIdu cut and also 90 dispose o
any dcsc II bonds authorized by said Act eLer 10 mo
United elsewhere % snch ~ auouA ~ stch man
rer snd NJ such ro as be think advisable from law "a.
ilcaies Of ndchetrc certificates Of deposit or ohor
| representatives OF value when have been o. moy
/ thereof 10 BIS used only for retiring Treasury
Notes other Obligations Issued ulaeF any act OF congress
u nohng cJut7ucd shall be construed TO authorize
aay increase Of the Puio Debt provided th't Oh uhued
than ten millions Of dollars mag be 70
AID cancel within I months nom the passage Of ts
act; aud thereafter than four millions 81 doars
any month. Aud provided iWtLei thet te seI 70 "heh
amendment shall continue IN force IN All ITS pro
kept roo hed ny This act $50
SIC @ md BE- (Ttr rsacsi That the Secretary Of Tho
Treasury shall rcGo "a Congress AZ the conn e-celeit o no
neYt TIE Of exchange madeor money borrowed
tins act Gud Of whom, and on whht erms FRA, also
tie character of indebtedness retired under thus
act aud at TO which this Ia an amendment with detailed
statement OF the expense Of making such loans and exchanges
RETRsCTIOS
| Mr. WADE roso 30 a personal explanation: On Friday
lat he lad said in debate that Mr. NoOres 40
tins keeper tho records of the Knights Of tho Golden
Circle lie lad since learned that such was not tho fact
and desired to retTact the statement made by him on
/ Friday
The senate at 3;l5 adjourned.
HOUSE OF REPRESENTATIVES,
| CONCERNING TIE PRfsiDENT
The first business in order the call Of Committees
for Reports 20 be placed tho Calendar There was no
rfoft made under the cell. Tho next business IN order
] fr Inv q NtW Wy