The New York herald., 1868-03-04
THE FORTIETH CONGRESS.
Second Session.
SENATE.
WAsBISGroN, March 8, 1886

INCOMES MANUFACTURES.
SIR CoLg ep) Of Cal offered resolution directing the
Committee Finance to inquire into the expedency Of
repeating all laws imposing incomes and
factures. Adopted.
TAXATION DISTRICT OF
COLUMBIA.
Mr. HARLAN rep) of Iowa, called up tho bill exempt
ing properly the District Of Columbia held for school
purposes from local taxation, which was passed.
PUBLIC THROWN MARKET.
Mr. THAYER !rep) Of Neb, called up the bill restoring
and branches which was passed The alternate even
sections are restored to market.
TnE HEIRS OF GENERAL ANDERSON.
On motion of Mr.. FEssESDEN. trep OF Me-, the Senate
nonconcurred in the amendments to the bill max ing
appropriation 10 the heirs Of General Anderson.
UNIFORMITY
Mr. FRELrSehuYsEY, rep) OF N. j., introduced tbe
following BILL which was referred to the Committee
Finance
n" Se "i1n
Se od 81 said be
and sd most
s ss s fS pe sss & sa be s h h
sraa weight md w nSa ,ss
80. ali s ehe s o 81 %
States shall contain pure gold IN like proportion namely
iHs pure 's gold and ali ALL other gold
s b e % S an he b
at the rate according to The amount Of gold therein
which government the United states concerned
same shah be W take" % and At and
order to the c'ous par Of exchange Of orr
Of dollar to the pound sterling, which has heretofore been
SIC that after the first day of January mex, nd
1 OF Of o. e
such fictitious OF exchange any other par OF exchange
and
internal and duties shall be by law directed 10
be returned levied and collected
IDAHO TERRITORY
Mr. YATES, rcp) Of H. from the Committee on Terri
tories reported with amendments tho bill 10 provide
for government for the Territory OF Idaho.
SETTLERS RESERVATION
Mr. RAMSEY. Qep) Of Mimi. called up the bill for the
relief OF settlers the late SIOUX Indian reservation,
which was passed.
Mr.. WILSON ldem) OF Mass, called up the bill to
facilitate the payment OF soldiers bountes under the
act OF 1865. 1t authorizes the employment OF addi-
tona clerks and additional Office accommodation. After
discussion, the bin was referred TO the Committee on
Finance
TIE xpFAcHNEvr QUESTION.
Al one O'Clock the Clerk OF the House appeared and
announced the appoint mcnt OF tho managers on tho
directions to The ARTICLES to the Senate for Their
maintenance
MT HOWARD (repI OF Mich. offered the following
order behalf OF the select committee Of tho
question OF mpeachmenOrdered. That the Secretary
OF the Senate be directed TO Inform the House o Repre-
senatives that the senate ready TO receive tha
gers appointed by the House OF Representatives TO carry
10 tho Senate articles OF impeachment against Andrew
johnson, President Of the United States which was
/ adopted
1 FUNDING rnK NATIONAL prBr
On motion OF Mr.. MoaRlLL, trepI OF VI, tho Senate
took up the bill to fund the national dept and for the
OF United States notes. The qdestion
the substitute c reported by VIZ SHERMAN from The Com
! miltce Fiuarce. Mr Morrill, the door in oppo-
ston to the bill and in reply 10 Mr. Shermans speech
OF Las, week. He thought the most important ngs 10
the welfare Of the country al this time were ~
First, reduction OF expenditure as low pos
sble; second a reduction OF taxation, leaving II
only cerian that something tha bc paid annually
on the national debt; third, some measure looking
the speedy resumption OF specie payment fourth, an
extension the national banking system, TO
comnodate all sections when United States
retired specie payments resumed hfth new loan ~
absorb the national debt al lower rate o interest he
approved OF the provision in the bill tor lover rate
interest but bo denied that could be carried by throat
that without It their condition would be worse tie
would rather prop mp the public credit With faitn
and good WORKS than stab II In US vulnerable
part THO Senator from Ohio pir. sherman)
had claimed that there is reasonable DOUBT
whether we have the rsht 10 pay the Gve.twenes
in geenbscks, the ground ths. would be just 10
re- .sd,en % .e 10 n ,n "y ,bsy we're .sSed Ins, y
there a contract under winch they were issued
limiting greenbscks TO the amount then authorized, any
pay thom of In such currency would he vi
oa,on public engagements that we dare not commit
and that Il this new Eve per cen, loan be rejected
he would vote TO redeem the nve-twentes IN green
backs These declarations might alarm The umid
holders oil bonds ard create glut OF sales lie tMr
cou d be rghtmIy paid IN greenbacks. aud yet there
was no rght 10 Issue the greenbacks obviously -FOUR
hundred millions Of greenoacks woud not pay one .nou
sand millions OF bonds and without reputation green.
| backs must in tho end he redeemed. Ine
| party In power aiwavs rightly he'd re-
sponsible for the adopted by IT, and the ma
orty be responsible for It's financial policy without
regard the clanor OF the opposition Tor inhation
He the right because was rgnt aud 80 as "a
keep them always the wrong. Doubtesi they would
seize every petext here as tney lad IN Ohio and New
jersey, 10 battle against the measures oi the majority
but the nion pary could afford TO frnme the measures
on plos that will endure, regardless OF the demo-
cratic candidate for the Presidency. II they want
| out We can do better The proposed i've per cent
loan would give prompt relief 10 the extent OF seventeen
or eighteen millions annually, and IL was questionable
IN view OF the and the vast nsds of enterprise
Ia the country whether such large debt could be car
RED al less rate than Gvc per cent al any Time "
certainly could not rne rate ol interest m and
must long remain higher hore than in Europe. Thi'
mont one Of uniform value and remove Immediately
one-sixth OF the burden OF carrying the pubic ceb
| Our credit snouid command sr per cent al
| least, all the engagements OF The nation
| should be Kept and this beng longer
| loan was q full equivalent FOR the reduction Ia
those seeking permanent investment. Five per cent
too, with The exemption from taxation was preferable
70 six per cent with stale taxation Of per csDtu
privilege which the government could not surrender 10
States without grave peril that would lead carrying
the debt abroad and thus lead TO OF the greatest
| evils OF absenieeism, earning money 1T home
aud spending u abroad; but beyond all they
| should seek 10 lessen taxation Inc provision ol
contracts for coin would remove an unjust
and nconvenient restriction and bring 90
boarded gold, and would OF paper crculst
be the retired and knavery longer be
by the Law. The provision for the payment Of M cd
amount Of the debt interest and prinaipsi, was he
thought IN the right direction, and would strengthen
our securities. Hs wsbed there were DO EsRwes IN