The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-11-28

-H. forAIizAuoS TkxATIoR
Mr. WARHBURks, tTepl OF Ind, called up the motion
70 reconsider shs vote by which resouson Of his Wns
on July IL, referred The COMMITTEES - Waya and 1
o. ae Ne =
portion to property held that exemption Of any w~
teai portion Of the wealth uf this coanry from " die
proportion u taxes Is wrongful unjust and should be
avoided and that carry out thoso tho r!gy to
tar inc bonds Of tins government shond be gwen In
Any fulure yGem for funding such honda
Mr. WAspsuRxv, Of H.. moved 70 lay ahe M ,on 10
reconsider on the tabla
The latter notion was agreed 70. and he resolution
remains with the Committee on Ways and No ans
LIGHTING THE Cry OF WASHINGTON, - q
The Senate bills to light the STREETS Of Wa hnaton city
10 THAI Of Samuel Chase Do Kraafs wsss AIKEN from The
Speakers table and referred 70 the Cog ,mise the
District Of Columbia.
Mr.. CovoOx (rep.) Of Pa, lnirodu0 I'd bill extending
the ACT 81 February 20 1857. for vls relief Of
Tho house, ~ two O'CLOCK p. "a went neD Committee
Of the Whole on the state Of the Union. Mr. Dawes Ia
NJ BgrI.R, ,5spl Of nss. resumed sIs speech 2:
enact that an tho naasoDai bank balls which hnd
their way into the Treasury should b retained and
cancciod and cEE tender Notes 10 the Barne amount
issued tho whole national bank currsncy would With
drawn from 0rcuasn1 IN f0Ur or i've months and its
place supplied With ,srs:noacka IAs could Ds done
tween 500 ooo0Oo ind $40 600 pssd bonds which
ere deposited 70 secure the natsosAt bank currency.
rsssrn Their day ~sa pas; tnsy lad ssss eos rid o.
and Congress she people wo1ed never again permit
decided 70 illustrate how the national banks
mons prcnts A. ahe expense OF the government
y ~. ne 90 -
bonds then got banking charter and $90.00o 4 cur
rsncy This currency he again invested Donds, went
buspcas he wanted 70 da He thus got interest on
$3.50 COO which. when gold 200 per cent premium
That was he way in wnsh shis national bank
system worked In ro1erence 70 The supposed re-
dssaan ,Ss o. currency !. c,culso. r. showed INA:
hundred and sixty millions u dollars 1t had actually In
circulation only i've hundred and nity millions, while
before the there was In circulation, according 10
Mr. Chases estimate, four hundred and seventy seven
misons, in.sludng specie, and the country Vas nov
before tho war He believed that the country could
bear thou sand millssns Of circulation that should
prove 20 % = any ms reaunaant sasn snas poroa q
brcugh TO the Treasury and exchanged for bonds and
when more currency became needed the bonds would
be brought back and exchanged for currency this cur
rsrcy % in the legal tenoer currency OF the govern
mcnI This would enable the " reduce the
interest bearing debt 70 fifteen hnndred millions, twelve
hundred nllions Of which would be in fye-tsentss
This would hxye changed nto long loan Of thirty
years or NIFTY years would Dc better taxable y STATE
ton rnying al mo debt be thought u bad done rs
share IN contracting Il Ganshter h.d ossn con-
In @rrow and in travail 70 save the government Tor
postHri,y was not fair thss shis generation should
81 a. the M
ADJ Ut home and not taxable abroad they would range
mr'ch higher abroad than At home, and tneze would,
danger OF their being cent back Tho gold car
tfcales OF the government were actually a premium
gold in the markets Of the world showing that
neither ability nor willingness Of the country
ray is debt doubted. There doubt Of their
MUM over gold o. account Of their being IN con-
vsnient form Bue i've twentiss we're NOT payable IL
gold and that ": s they s S.' sn 81. = ns
twsnties Tho reason Tor that was that shs principal Of
had been asked why he agitased ths matter whom by
the time the Gvstwsntiss s due gold and paper would
be Of co-relAtvs value What was hs always getting up
Mxxsx,.-A very sensible question Laughtsr)
Mr. BcrIEa-Yss, very ssnsibis question; and win
IT, At the present rate Of gold these bonds
double themselves every seven or eight years. and will
have doubled themselves three times in twenty years.
would double once in twelve years Ct SIX per cent
Mr.. BrrIER-Sx per cent interest in gold, payable
pound interest," IN i.ss than twelve year, DO nos know
anything abont figures in Ohio but figures In Messchu
Mr. Pmc rep, Of Iowa Iowa read the les. quotation Of
nvssventes and tsn-forcs to show that the difference
price -. between ~ nys :s and * per cent
che fact that the interest on the dvstwentss q 1862
was pasd only last month he censnded u conclusion.
that he had shown that he was not for repudating
single contrast Of shs United s,ass he was only
Ing TO sst rid OF syssm which, n the language Of
should not be driven from nom power because
ssss. A: :op ,Ss ''' coa Sas "' e
the currency, which contraction amounted last year
sasSry ssd = publ; auction A. n1sd times and .hd
70 repeal the Immense number Of discretionary laws
which put the Treasury of tho United States In The
Secretary Of fhe Treasury had that the ave-
sen;iss were payable in sod the government vas nos
Mr. BUTLER replied that the Secretary OF the Treasury
bad no sn, . make . any such promise .Is no man
tween the people Of the United Sates the debtor and
the eOndhoidsr me creditor ana had right % "a
equity hut exactly according to tho form Of the contract
M BLAME, Wsp o. Ne, got the ncor and referring
senden refusng 70 paw sevsn-thrties In gold, asked
hiin II ne knew a Gugle holder II those notes who
had applied a the Treasury for gold for hsm and bsen
Mr. 8rrxs seplssd TIA. be had seen ssssr Of refusal
from Secretary gesee.dsr
Sse. y . csss and that csnssss had
attempted 70 REVERSE THAI asclson would have been
fyisG In the face OF Cos1gress The ssventhrues bad
= the hands %, 8 Tss,: sas a:,
dirsstisiscuon with thH arrangement. The gentle
.aa or sa,ls., h,a spokss yesterday q Main. ~
Ss1 lsSsd il rhs city o. Bangor and .uoss
nsighboS caa1s N and nd, Tou have MOE dated the
notice. Nos saiS be ~ do not intsad 70 O. - u
would run outsH did, uaughtsrJ 50 - was with
the gsuuemsnN tMr Butsy's proposition 70 issus
obligsssus Of re government Ihout hxng any tims
for their redeem tton A " the small dtdsrs1es r.
quotation between the nvctwsates and tsn-Jorfes.
vas easily account for That difference mad between
eight and nine per till ihr gentleman ~. Butler)
had commenced this agitation, and the gsntlsnAa wns
welcome 70 ali sbs sDos winch psrtaned result
n he pridsd hmsef bsins ~ chief Of the noasrA
school OF repudAt,sn He had casd rspeate1ly that
Wont would n0t
Of the hs could b sxnsssd With the national
honor end credit asong Other ssoVss OF The ceuuTy
insinaAtien
Mr. Baooxs, tdsma q NJ ". said nv did not propose
70 express ANY opnsun the subject ~ the dsuss0n
bsswsoa NE suo gsuxemsu txsssrs Batter and Bs:V),
Ne desired 70 call she attention Of tbs HOUSE 70 the
debate tnst had taken place on the aet June, 110o
porllous course tnAt Congress purxukng On the
knances an0 he inlc ultes that would enxue 10 was
aifnnion thai tho bill thal under ilcQgloa