The New York herald., 1868-03-12
upon the people Of the Territory. Laid on the

npon the people OF the Territory. Laid on the
table,
Mr. MORGAN, frep.1 OF N Y, presented memorial
OF shipbuilders and owners OF New York asking the
remission OF duties on ship building materials Re-
ferred to the Committee on Finance.
Several petitions were presented for the reduction
Of the army and navy and other expenses of the gov
ernmenL and suitably referred.
Mr.. BucKALEw, ldem.) OF Pa, presented petition
OF publishers OF Philadelphia, praying for some
remedy for dinculties arising from decision by tne
Postmaster OF Philadelphia charging postage on city
circulation Referred to the Committee on Com
merce. Also remonstrance of citizens OF Pennsyr
vania against pending legislation OF Congress, more
particularly the bin affecting the jurisdiction OF the
Supreme Court, and comforting certain powers oh
the General of the Army. Referred TO the commttee
Mr.. FRELiNaHuysEN, rep.) Of N. j.: presented q
petition Of morocco manufacturers OF New Jersey
that goat skins and sumac be relieved 1rom duty
and that the two and half per cent internal revenue
tag on manufactured morocco be removed and the
import duty increased hfteen per CENT heierreo W
the Committee on Finance
AMENDMENT OF THE JUDICIARY LAWS.
Mr. WILLIAMS trepl OF oregon, caied up OIL NC 70
explained that 1t had been prepared at the instance
OF The Treasury Department, and that 1t authorizes
writs OF error TO be taken to the Supreme Court
where suits brought in regard TO the collection
of internal revenue after the money had been paid
into the Treasury. The bill was passed
THE PROCEEDS OF CAPTURED AND ABANDONED PRO-
PERTY,
Mr.. EDMuNDs, trep) OF VT. moved that the senate ser
n-concur In the House amendment TO the bill di-
recting that the proceeds Of captured and abandoned
property be paid into the Treasury, and that com
Mr.. TRUMBULL, rep.) Of ILL.,, moyed as an amend
ment that the Senate agree to the House amend
Which M d strikes out the ~ s q1 n
ing suits against the same, &c.
The motion was lost-l6 to 26-and the m0uon OF
Mr.. Edmunds was agreed to.
THE FUNDING BILL.
On motion OF Mr.. SHERMAN, Fep) OF Ohio, the
Funding bill was again taken up.
Mr.. CoRBETT (rep) of Oregon, took the floor in op.
position 10 the bill. He proposed TO amend the Dill
by substituting twenty years instead OF ten years SO
"a all hD hnnl n
able AT the pleasure OF the government after twenty
years. principal and interest payable in coin and free
Sherman position in favor OF paying OF the i've
twentes in legal tender notes unless the bondhod-
ers would accept the proposed five per cent bonds.
He contended that great majority OF the bondhold-
ers would fund their bonds into twenty year bona;
| that the longer the loan the more popular u
| would be. He claimed that Congress had al
ways contemplated the payment OF the prin-
cipal Of the debt in gold, otherwise they
OF and threetenths as they had, allowing the
extra one and three-tenths per cent to make the
scan ve % 9 e act o
1862, specially appropriated the coin duties on i'm
ports-frst, to the payment OF the interest on the
public debt: second, to sinking fund, for the pay
men OF the principal out of the issue Of $780, 900
of the original seven-thirties. The poorer and middle
classes took 2S77,313 bonds, being hftes one hun
dreds and five hundreds, and probably the capi-
talists only took the 3Tl,197 one thousand dollar
bonds. Reputation would therefore fall heaviest
upon the mechanics laborng men, &c, who, when
appealed TO in the day of our distress, Withdrew
their money from savings institutions and invested 1t
in United States bonds II was due TO then as wen
as to the foreigners who spewed out the rebel
bonds and came to our assistance that
we should fulfil our promises. He needed neither
the example Of foreign nations nor the argument or
shrewd lawyer to tell him what was right between
man and man and nation and nation. The most
sacred thing in life next TO mans duty TO God was
to fulfil all his engagements, written or implied. II
that important in private how much more SO in
nnd the pay he
and not the glorious Union party, who had fought
through fire and blood for the right, and should not
now take up the wrong and crown an act so n0bly
begun with an act that would sink so low In the
estimation Of those who had hitherto IN tnhe trusted
that II we must continue on the present
state of expansion 1t was better for the government
to reduce its legal tenders to such amount that 1t
could safely resume specie payments and increase
the bank circulation an equal amount In the west
under proper safeguards, allowing the banks to issue
only sixty per cent OF the amount they had invested
In five per cent bonds and leaving them to resume
specie payment when specie should become more
plentiful. He favored section six, which provides
that all contracts for payments in coin should be en-
forced, believing 1t would retain coin in the country.
He opposed section five, and said II ought to be
stricken out as II would have tendency to keep
down the price Of bonds and prevent the funding OF
the five-twenties into long loan at five per cent
interest. If TO continue the expectation Of
bonds the higher can keep them the better 1t will
be in paying the balance of exchange against u.s.
Mn mr. ep re- OF 70 address
merely to the financial but to the reconstruction
measures Of Congress and Its general policy.
II.
should pass at an early day that he would have to
object to the Senator's making political speech on
the subject and raise the point OF order that such
speech would not be pertinent
Mr.. PoMEKoY, lrep) Of Kansas lin the chair) said
the Senator could not be decided out Oi order before
he had made any remarks.
Mr.. SUMNER, trep.) OF Mass, suggested that the
Supplementary Reconstruction bill be taken up ana
that the Senator could make his speech on that.
Mr.. FEsSESDEN. trep) OF Me-, hoped no such new
rule would be adopted as that Senators must conine
themselves TO any particular subject OF debate II he
made any remarks at all on the subjects OF finance
and reconstruction he expected to make them in one
speech.
DIXON addressed the Senate at length, arraigning
the republican party for its policy towards the South
He reviewed the whole ground OF reconstruction.
Reading from a speech OF Mr.. Sumner the asser-
OF the South into the hands Of the blacks.
he appealed TO them for the enfranchise-
| ment, not of the black, but OF the white race.
| He reminded those who charged the conservatives
and President Johnson with desire to deliver the
country into the hands OF bloody handed rebels that
the present presiding officer (Mr. Wade) had, In jan
uary 1866 supported the policy OF Mr.. Johnson, and
had said that had Mr. Lncoln's policy been like 1t he
| would have supported that also. Had that example
| been followed the present runous condition o
| things would have been avoided.
AT the conclusion Of Mr.. Dixon's remarks the bill
| was laid over.
i CONFERENCE COMMITTEE.
| The PRESIDENT pro tenn. appointed as the Com
| in regard to proceeds Of captured and abandoned
property Messrs. Edmunds, Fessenden and Trumbull
/ EXECUTIVE SESSION.
On motion of Mr.. CoNSESS ut Il quarter before foul
\ the Senate went into executive session, aud sooi
/ after adjourned.
| HOUSE OF REPRESENTATIVES