New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1868-03-12
XLTH CONGRESS-IID SESSION.
aEYATE. ...wAsn.xorox. March Il. 1868.

GINA i.--. " Aoi'NtIoFt MATCH IL A'eo
Mr.. C0NKLING rep, n. " presented
a memorial OF citizens Of Boston demonstrating
against the passage OF the lNrrESAr.ONAL Cory
RIGHT LAW. Also a memorial fiou citizens Of JefIer-
son County, Territory OF Colorado, demonstrating
against the ADMISSION or COLORADO as state,
stigmatizing the present movement 10 that end as
a fraud upon the people Of the Territory. Tabled BIT.
MORGAN Rcp, ". " a memorial OF ship
builders aud owners, OF Hew-York ASKING the
REMISSION or DUTIES shiPbuilduR materials.
Finance. Several petitions were presented
for the REDUCTION OF EXPENSES Of the Army and Navy
aud other departments Of the Government. Mr.. BUCK
AlEW Dem. Penn.l-A petition Of publishers OF Phld-
dcpIa praying for remedy FOR difficulties aishg
from decision by the Postmaster OF Philadelphia carg
Ing POSTAGE ON CRY CIRCULATION. Also, TeIhoh
STRANGE ot citizens OF Pennsylvania against pendg os
at0n Of Congress more particularly the bin affecting ne
JURIsDIcrOS or THE SUPREME COURT aud coh istilns
Mr.. FRElINGHUYsEN G;ep y. ia petition ol Ino,
rocco manufacturers OF NeWJersev that goat anu
per cent ISTERSAL REvESuE TAX on manufactured mo
rocco De removed and the import duty oi'"Seu l'ech
Mr. WILLIAMS Gep., oregonl called mp bill to
amend the Judiciary acI Of nc Instance ~ b srv
Department and that 10 authorizes wits on error 10 be
taken 10 the supreme Court, where suits brought
i'm regard 10 the collection OF Internal Revenue after the
money has been paid into the Treasury. Tue bill was
passed. ,.,.,, .,,,u,. ,..,...-
Mir EDMUNDS rep, VI moved that me sonate now
concur the House amendment 10 the hill directing that
the proceeds OF captured and abandoned property be
paid into the Treasury, and that Committee OF Confer
ence be appointed.
Mr. TEUMBULL moved as All amendment that the
senate agree 10 the House amendment which strikes en
the appropriation 81 100000 10 the use OF the Secretary OF
the Treasury in defending suits against the same
The motion was lost i6 TO 2G and MrEdmundss motion
FUNDING THE NATIONAL prm
On motion of Mr.. SHERMAN tkep, Ouol the pending
Mr.. CORBTTT Glep., Oregonl proposed TO amend the
bill 10y substituting 20 years instead OF 10 years, so as 10
make the bond payable IN 40 years. rede6nabe n the
interest payable I'm coin, and free from taxation. He
took strong ground against Mr. sherman's position In
favor of paving of the FiveTWcuties IN legal tender
unless the bOndhOdCr would accept the proposed
per cent bonds He cOntcnded that great majority Of
the boldholdcrs would fund their bonds into d twenty
year bond ANA he held that the longer the loan the more
popular L would be. He claimed that Congress had
always contemplated the payment Of the principal Of the
debt IN gold otherwise they would have allowed but6
per instead OF and l0hs they had allowing the
extra and l0hs per cent TO make the currency inter
est equal 20 gold interest upon gold principal see
tion 3 of the act OF February lj 1867. specifically
appropriated The coin duties imports; First 10 tine
payment oi the interest on the public dent secondly 10
sinking fnd for she payment OF the principal ont 90 the
issue Of $50 the original sos The poorer and
middle CLASSES took S2s1713 bonds. being ffcs, one
capitalists took only 37lg7 SiOpO bonds liquidation
would therefore. ial heaviest upon the mechanics la-
boring men, ana others Who when appealed 10 IN the u+
OF Distress Withdrew Their money rom SAVING lhsi-
uOns ana invested 10 in United States bonds IL was
due 90 them as wei a. ~ the foreigners VINO Weu OuJ
tic Rebel bonds and came H. our as,lsaice, that We
should fulfil our promises lie needed neither Tho exam
pie OF foreign nations, nor inc ,afSumehl N rhieNu
lawyer. 90 tell him what was right between man ard man
or between nation and nation. The most sacred
thing IN hfc next 20 maus duty 20 God.
was 10 ful1u an his engagements written or
implied IL that was important 800 private how much
more u public affairs u thrrc to bc reputation
let Pendptou and the party which ho represents begin H.
and not the glorious Union party which hhd fought
through fire and blood for the night. Hc held that n
must continue the present state ~ expansion. 70 was
better for The Government % reduce is legal tenders 10
such amount that 10 could safely resume specie pay
monts and increase the bank circulation au equal amount
ina the West, under proper safeguards, allowing
the banks u issue only 90 per cent of The amount
they had invested in hfe per cont bonds,
and leaving them to resume specie payment when
specie should become plentiful. lie favored sec
ton which provides Thar All contracts Tor payments no
coin bee enforced, believing that V would retain coin u
the country. lie opposed Section % aud said y ought to
he stricken out 10 would have tendency % keep down
the price of bonds and prevent the funding oi the yr
TwCnes into long loan 81 I'VE Per cent interest II We
continue the expectation ~ boud, the higher We
can keep them the better.
NJ DiXON ODcm. Comb rose o. speak on the bIl and
proposed address himself. nO- merely 20 the financial
but 10 tine reconstruction measures ut Congress ana To-
general policy.
Mr. Is, stEHlS Not b- pertinent ', '' ' ''
Mr.. POAlERON rep. Kansas. Zoo the chair, held that
the Senator could not be- decided out Of order bnorc BE-
had made any remark
Mr.. SUMNER rep. Ma,-) suggested that the supple
mcHtary Reconstruction bin boo taken up, and that the
senator could make bis speech on that
Mr.. FESSLNDEN rep. McJ hopc0 That no such new
rule would established Senator must canine
themselves o. any particular subject Of debate.
MI SHERMAN withdrew his point Of order. and Nr
Dixon addr -cd The senate go length. aragnug the Re
publican party for it, policy toward tho south.
AT tho conclusion of III DiXOn's remarks te bin was
laid over
The PRE-: DENT gro tt. appointed A. the Committee
OF Conference the amendments 90 the bill Boo regard To
on motion OF Mr.. COSNEss H.ep. Cali Tho senate
went iuto Executive Session, ANA soon attef"ad al
JOuincd.