New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-11-27

Mr. Blaine then proceeded 10 argue az some length the
impossihy Of paying the tvetwoniics without rock
the end g. gulf us all In financial disasters with wide
nifty. Gen. Buffers idea OF procuring the by offer
ing for sale new series of. currency bonds would be
round deceptive and deiusiye The Government would
be IN an exceedingly awi attitude when 1t should
enter the money market to negotiate loan such rs Gen
DueI oCaied we dfas OF Whrh were 10 be devoted
10 breaking faith with those who already held its most
sacred ObgatOns But the worst delusiOn Of this whole
schtme laI winch terms the exchanging of green
backs for bonds payment at all II is no payment
at all II Is no payment In any proper II neither
gives te creditor MS honest due nor does release the
debtor from subsequent responsibility You may get rid
OF the fyetwente by issuing the greenbacks but how
VIII yOu get rid Of the geenbacks except by paying the
gold In conclusion, Mr.. Blaine urged thar the true
rshly, toward the resumption OF specie payments, and
at the same time TO reduce our expenditures within the
including the interest on the public debt Ought not TO
exceed S225OOOOO0; but 20 attain his we must rgidy
aud severely economic; our military peace esiHPii1h
mcuts must be cut down Onc-haf at least and al the
leaks and gaps and loose ends must be tapped up and
stopped. With such policy steadily pursued heliheI
our debt nor our current expenses will be burdcnsoue 10
the people and we can al once have vast reducion ~
our taxation il Will. doubtless cost us vast dea 10
pay indebtedness, but 1t VIII cost us lnoacuiaDy
more %T T BF6 20 R2y dem n w. referring to remark made
by Mr. Blaine that ne (Nr Brooks had moved an amend
meut making the debt payable IN CON- but hat upon eN
PLANTATION from Mr. Hooper, ana after tho leaulns Oh
letter from Secretary Chase stating tna an bonus WIRE
doomed by him payable III CON- had declared he was SAILS
fed and withdrew his amendment, said was very far
frOm being satisfied; on tue contrary was very u15
fled, but being the minority IN which was, could DO
OF ways and Means
Mr. BUTLER REP Mass) replied to the speech OF Mr..
Blaine. He declared the proposition which he hed 10 De
that by the law OF the land and by the term OF the con
tract the FyeTwenty bonds were payable, not III CON-
but in the lawful money Of the United states Every dol
lar OF the Indictment Of the United States that
traCted by the act Of Congress making II 10 De payable M
coin should be paid In coin, though should take the last
dollar and the last COW i'll the barn 10 DO H. But every
debt contracted not payable III cOin should be pau ia
lawful money Of the United States, such as the Govern
mont furnished to its citizens and such now Their
only currency Referring TO remark mat MI steven.
had said he had not inserted in the Loan bill that the debt
was payable In coin because nobody would suppose u
was payable in paper currency, he OR Butel quoted
Mr. Stevens saying that the reason he had not
done so was that he thought nobody could be such fool
as TO suppose the bonds were payable in com Laugber
rs 20 ue declarations IN Jay COOKIES advertisements ihat
me bonds were TO be paid In gold he declared That he
dd not acknowledge the right Of aIy broker either ia or
out Of the Treasury bind the United States IL the
country was to be bound by that, why should IL not also
he bound by the dicum in that advertisement that
national debt Is national bessingV The gentlemen
Ir Bainel had referred 10 Mr. Fessendens decision
the question He Alr Butler glad Of it, for he bad
bone to pick with the xSecretary OF the Treasury, Mr.
Fessenden. He had In face Of the fact that the Seven
Thirty notes were issued when all debts pay able in
coin decided that they should be paid in paper
Mr.. BLAINE reminded Mr.. Butler and the Committee
that that decision had been made by Secretary Chase
SIX weeks before Secretary Fessendcn went into the
Treasury aud that the latter found himself oreclosed by
mat decision. The gentleman tButleD would therefore
lind that IN that matter he wrong.
Mr.. BUTLER retorted that the House could judge
whether ne was wrong without the dcum OF his friend
from Maine. He Buep had not said that Salmon T..
Chase was not guilty of the thing he had only said
that VIM. i. Fessenden lLaughter.l II Mr. Chase
that they heard about why should Mr Fessenden have
been retained by "res Goudicqta" when IL was res
badly ddtHtcGtdf Laughter They had had many
things from Maine-Maine law ana Maine finances. lie
himself had repudated the one and he was afraid his
State had repudiatcd the other Laughter
When Mr. ButleTs hour was nearly expired he yielded
to motion that the Committee rise it being understood
that he would have full hour tomorrow
The Commtto rose, and the House, at socock. adj
jOurned