New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-12-09
LIE loan IAMs

Mr.. sCHENCK moved that 900 copies OF all the Loan
laws of the United States be- ordered printed the
pamphlet prepared under the direction OF the Com
mittee on Ways and Means referred to the Committee
| Oh Printing.
resolution ~ print additional copies Of the Post Office
report was referred to the Committee on Printing.
Mr. ECIIENCK then moved that the House 20 into Com
| mittee Of the Whole on the state Of the Union.
| TIE PRESIDENTS MEssAGE-REFERESCE TO COMMITTEES
Mr. STEVENS Kep, PENN offered the usual resolutions
ordstrbung the President Message among the various
proposition 10 refer portion Of the Presidents
| Message to the Committee on Reconstruction
Mr.. ROSS Dem. H. made the point OF order that that
resolution was out OF order as there was no such commit
| The CHAIRMAN overrued the point OF order
MT, STEVENS stated in explanation that new states
would be coming N rom week TO week Tor ten weeks and
icct lilo would however, modify his resolution to
! refer the subject o. Select Committee OF ume.
all He denounced this az n covert way OF reviving
ferTng subject to it. The Committee on Reeohsirae
on had stood I'm the way OF Reconstruction, and had
Obstruced the wise, autay and iudcious measures OF
the President 10 give peace and harmony TO the country
The time had come when the voices Of the people had
representatives heed that warning The House
had 10y its to-day condemned the action OF the Com
the iudiciou measures OF the President Laughter lie
felt like taking by the hand the members the other
side % the House. He repentance IN their faces
They evidently sorry FOR their past conduct aud he
willing 20 take them on probation into tho great Union
party Of the country lie moved TO strike out that part
MIR. STEVENS PENN said he had been very much
pleased with the remarks Of the gentleman from Illinois
That gentleman was right IN many Of his points especially
when he referred to that fraction OF party which voted
with him Nir Ross this morning. lie asked for vote
Mr. Ross motion was rejected
Hir BUTLER rep, Mass offered an additional reso
luton 20 refer 20 the Committee Appropriations that
part Of the Presidents Message relating 10 the purchase
Of the Russian possessions in America.
Mi STEVENS said that without special reference the
subject with the Committee on Foreign Affairs aud
he no reason 10 change that.
Mir Buffers amendment rejected and the other
resolutions laid aside 10 be reported 10 tho House
. IlE FINANCE.
MI PAINE tkcp., WEI addressed the Committee
tho subject Of the finances lie replied % the argument
Of Mr. Butler made last week against the payment Of the
principal 81 the tve wentes n gold lie undertook 70
coniroYeil that position ana prove ny me law list mat
ruary %. 1862 1t only the hundred and nifty mil
lions of gecubncRs authorized by that act which
made legal tenders ~ the gentleman from Massachn
grccnback then that gentleman should be transferred
To the head Of the Treasury Department where lac
could soon, By such magical powers pay OIL the national
MI ROSS rrcndcd ffTr-1f these bondholders were
paid IN the chroncy which was then provided there could
Mr. W4SHBTRNE rep, III desired to know whether
he MIR Ross IN iaycr Of issuing more greeh6acks 10
NJ ROSS aid not want 10 issue too much paper money
but he thought would do no harm the currency were
watered a little lie did not think II would be very judi
cous 20 return too % specie payment. lie would
however have the currency ~ the national banks subs
tutcd by greenbacks IN reply TO another question fom
Mr Warhburne Of Illinois he said that the bonds should
he pad i'm currency II that could be under the laws
and without violating the honest good faith Of the coun
try. Laughter Eighteen millions OF gold must be saved
Annually rs caucong sSOOOOOOOO Of national bank cur
roucy by issuing that amount Of greenbacks and buying
up that amount Of SIX per cent bonds. He would then
take tho balance Of the national debt and issue gradually
from year 10 year. greenbacks to redeem A. More cur
reucy was needed for the trade Of the country
Mr. WAsHBURNE Gep, III asked Mr. Ross what The
effect Of duting the currency was aud remarked that,
willie everything consumed by the laborng man Increased
price % per cent the laDoing mans wages Increased
only G3 per cent lie glad his colleague had declared
himself In favor OF watering the currency and ho pre-
sumcd that that would be the policy Of hs OR. ROs5s
party IN Illinois next year. .
MI ROSS retOrted that since the policy OF contracting
the currency had been established the wages OF the no
ing man had decreased and his colleague had favored
that policy His colleague policy had also been 70 eN
cmpf from taxation the property Of the rch bonaholdcf
thereby imposing moro burdens on the property OF the
poor lie would tell his colleague that II he planted
himself the bOndhOldors platform he would soon ma
himself solitary and alone that platform IN the state
Illinois His colleague willing 10 turn on TIE
decrep soldier and the widows and orphans OF soldiers
with paper currency, and to reserve the gold
TO nav Of the rich bOndhOders. He had been originally
opposed to making greenbacks legal tenders but now he
was reOced that that had been done aa 1t opened way
TO the people 20 get rid OF the enormous debt.
Mr.. SPALDING asked him what amount VI greenDaCks
he would Issue. .
Mr. ROSS said he had made calculation, but he had
not II with him. lie thought that with the help OF taxa
ton OnesIth one-eghth Of the bonded debt might be
The committee rose and the House, at $40 o'clock, ad