New-York tribune., 1868-03-09
HOUSE OF REPRESENTATIVES,

The House met for debate in Committee OF
the Whole Mr.. ASHLEY CRepr ohOl in the chair
THB FINANCES
Mr. CLARKE rep, Kansas) addressed the House
on the question Of the finances, expressing his op
position 10 immediate resumption, or to the li1ui-
datos OF the national debt within this genera
ton; but he was I'm favor Of lending the credit OF the
Government in aid OF the great continental Pacific rail
roads.
Mr.. BLAINE Rep. Me- next addressed the House.
The Democratic newspapers, he said lad deliberately
asserted that proposition had been MADE III congress 70
pay of the ve-twenty bonds nicon vhilegod was at
high premium This was not only untrue, but absurd
As to paying off the bonds Treasury notes. those who
camored for it deluded themselves most budy ana In
yoked the most destructive consequences upon all classes
The imitation implied in such payment would depecate
the currency unsette values, and be especially runos
10 the laborng Let the folly OF paper expansion
be avoided and he believed the country ana
surely get on TO the specie basis THIS couIl DC dOhe
without rashness and without contracton whereas 'hS
opposite policy would lead TO bankruptcy, nD' ana
~ THR T,RrPF AND REvENUE LAWS
Mr BROOMALL Rep., Penn apIEcneld@ea @ thai me ,ils
necessity for protection viii always exist TO long a. abO
in foreign countries shall not have risen 10 te dgny
which has acquired IN the United sIe 81 % o
now imposed imported wlneB ana hglofs ana manu- W
factures OF iron, cotton wool and slk, e said That ne
despared of seeing any general revision ~ the tarn IA"
with q view Of checking importation AM protecting ~
mSSt lead TO- something in the proper direction
ronce.siou 10 the demands OF the augishng manuisc
turing interests OF the country. HG recognized the dr
Guilty and delay attendant upon me peiiee.ing oi
any general system OF internal OF customs fosehuo
The measure which he proposed lad Two objects
one being the alternative OF the 0thtI 70 lhclehse
the revenue derived by foreign commerce O D ueces
Inc importations Ia enable American industry the better
10 near the weight or Internal taxation Both OF tose
might be combiued In the general ogect OF increasing
the aggregate OF the Government without III
Creaslng the burdens OF the citizens.
TfIE PUBLIC DLbI.
Mr. HOLMAN Dem, Ind was ia tafof eI even lahufu
Justice 10 the bOndhoder and 10 the huu-tnal Classes
The nation could not afford 10 violate Tvs la ana must
reerve ts fame from faint or suspicion. The
deht ahould be paid the basis on whlch was con
tracted IN the people paid the debt OF G5OoO00OO on
tbe ba sis on which IL made dollar TOT dollar paylpg
in lawful money that part not expressly agreed 10 be
paid In coin aud paying IN coin that part agreed to be
raid i'm COIN the bondholder would receive All that he
'Oe Mr. BLAiNE Rep Me) referring 20 remark 10 favor
NJ Mr. I0raps proposition to tax United Stat't bonds
per cent asked MI hoiuldh "h1the' ~ WIN Wv i"'
'"T Mr. HOLMAN replied that he would.
Mr. BIAINE asked. furthor, whether me Deuiocratlc
side of the HOUSE would vote for t with anything like
Mr HOLMAN responded that the subject had never
been a matter OF consultation anons tne Oppositloh
MI LOGAN Rep, ND said that be intended TO press
be nronositlou as he believed that bonds should De
taxed the same as other property; - .,o.- ,,,. -
gan or Mr. Holmanl To inform him whether te properly
OF the country Is fam valuation 'sAeu Ah''s Ae
MrF'"vAE TRUMP Dem, Ohiol In Ohio IL Is more
Mr. LOG AN said that the average OF state, municipal
aud valuation taxation Is little over over q per cent
TIE CURRENCY.
M ryNCU Rep Mel explained and advocated two
biils ON the finances which he ntrOduced ~ tnt cOul
cenan of The SO sion and which were then referred
TO tho Committee OF Baa4lls agd CuLGsneJ' oyIHe VI