The New York herald., 1868-03-10

strsnces o. nSsa Appleton Co, Harper brotlcs
Ess1sd q ,ns hs
abolish once eP Ss Hnss sse
ne did 80. o. he said without any sympathy with its
Several petitions were presented Tor the removal OF
political disabilities.
RAILaoAD AND TELEGRAPH.
Mr.. CoNKLINg introduced bill to authorize the
construction OF railroad and telegraph line from
New Orleans La, to Mobile, Ala, and to secure the
Sr ohsr ai S
the Committee on Post Oiices and Post Roads.
THE RESTORATION OF ALABAMA.
a estSaon 81 asa asSaS e rsprs pap.
sentation In Congress. Mr. Wilson said he had re-
a "a 1 ws
ened with dismissal from employment and were dis.
missed after they had voted, and that professional
tions that they would otherwise be injured In their
business He stated several instances where such
Fitzpatrick formerly Senator Of the United States
who had threatened to dismiss men In his employ
ment Il they participated In the election and after
would have been bound to recognize the election as
VALID. but as that had not been the case, and as
otherwise have voted for the constitution,
he understood that General Meade was now inves.
tigating the matter and would soon make report,
and that 1t was proposed to hold q new election In
the counties where violence had been used to deter
the voters and where there had been no election He
they would report it ut an early day.
NEW FINANCIAL BILL.
MI. WILSON introduced q bill to provide for the
conversion and funding OF the interest bearing debt
and to amend the Banking laws Of the United States
laid on the table. It authorizes and requires the
Secretary Of the Treasury to issue coupon or regis
bonds sufficient to redeem the entire
years bonds and provides that said bonds shall be
psa0f interest In % bearing .sS sT sr
per cent after twenty years, interest payable
semannually, principal and interest payable in coin.
The third section provides that said bonds shall be
issued solely Tor the redemption and exchange OF
existing bonds, and such exchange may be made
scribed by tie Secretary Of the treasury The fourth
secton lays tax or one per cent per annum on the
accrues. The fifth section directs the Secretary OF
the Treasury to ascertain as nearly as possible the
State the amount tax received from its citizens
municipal and local taxation the bonds
Section six provides for the gradual reduction and
| applying annually to the payment Of the principal
| AL taxes paid on bonds held or owned out OF the
the Treasury for the first decade hereafter to re-
deem na ANN ally by IN coin ten mil
lions annually, for the third decade forty millions
annually, for the fourth decade sixty millions
naally, and for tine fifth decade eighty millions an
nually, or until the whole debt is redeemed.
The seventh section authorizes the increase OF the
national currency to $500 GEO. and directs prefer
OF issue thereof to sections OF country not
| quately supplied with banking facilities The eighth
section directs the Secretary Of the Treasury when
the whole currency exceeds s7OO 600 OOO to retire
and cancel as rapidly as possible until the oustand-
ing United States notes reduced to 5000 000 0O0
The last section directs each banking association to
hold its coin interest received bonds a specie
reserve until able to redeem its currency and not TO
use said coin reserve for any other purpose Accom-
panyng the bill, and ordered to be printed with II,
is table showing that under the provisions of the
sixth section the interest bearing debt now amount
ing to 81 1000 600 900, would be reduced in 1878 to
nineteen hundred millions, and the interest to one
| hundred and fourteen millions, while the national
1s4o to 1860, will have increased from twenty-five
thousand millions to thirty thousand millions
IN 1883 the debt would be seventeen hundred mil
lions, with interest one hundred and one Millions
and the national wealth sixty-fve thousand millions
In 1893 the debt would be thirteen hundred Millions
with an interest OF slxyve millions and the public
wealth enc hundred and fourteen thousand
millions. In 1905, the debt would be seven
/ lions, and the public wealth two hundred
and three thousand millions; and in 1916 the last pay
ment required to extnquish the debt would be only
sixty-three millions while the national wealth would
| have reached the enormous figure Of three hundred
| and twenty three millions of dollars.
THE DIPLOMATIC APPROPRIATION BILL.
the Senate again took up the Consular and Diplo
amendment by the Committee on Appropriation
striking out the appropriation to the Minister Il
Mr.. MORRILL,, Gep.) OF Me-, again explained the
considerations which had influenced The committee
MI FEssENDEs, trep) OF Me-, said the law OF 1851
out OF the existing approximation
law providing that no compensation belonged to this
Minister, and the same Congress In 1867 refused to
make any appropriation to this mission On this state
of facts the committee feel bound to strike out the
! appropriation.
Mr.. SUMNER said that since the session OF Saturday
he had seen the Secretary Of state, had informed him
that AT this moment Harvey was Minister Of Portugal
although he was now i'll Washington. lie (Sumner)
| hoped that the amendment of the committee would
| be agreed to-
Mr.. WILEY, trep.l of W. Va, opposed the amend
mont saying that II the Senate had not called for the
letter OF Harvey which had given rise to this trouble
| IL would have been long since forgotten. II was in
consistent with the dignity OF the Senate 10 make
4 much ado about private letter never intended for
| their eyes. He was opposed to the amendment.
Mr.. MORRILL,, trep.) Of Vt, thought Mr. Harvey
to treat this as II 1t were original question. lie
understood Mr.. Harvey had appeared before the
House committee and made an explanation saisfac-
The amendment wac not adopted
On on amendment by the committee striking ont
the appropriation for the mission TO Ecuador cOnsd
cradle debate took place IN regard to the necessity OF
the mission during WHICH it was stated that IL was
proposed to class II with the mission to Peru and
that for the sake OF economy there being minister
al present appointed, it had been thought best to
dispense with this mission. Tie amendment was
agreed 10.
on an amendment TO the section which appropri-
ated for contingent expenses Of all the missions
abroad $4,000, inserting the words 'and for the
the contingent expenses Of foreign ntercourse and
reducing the amount to $4,000, general discussion
ensued on the subject OF economy. Mcssrs. Sumner
Fessenden and others opposed the amendment on
the ground that the sum proposed was entirely too
small, the last named saying ironically he wanted 1t
understood that In accordance with the prevalent
fashion he declared himself tn favor OF economy, but
he wished to see the government carried on
The first part OF the amendment, to include in the
item for the contingent expenses OF foreign inter-
course for which $780, 900 was appropriated in the
bill as it came from the House, was lost.
The question recurred on reducing the amount to
500 0O0.
Mr.. CoSKLING said II had become so now that no
one could advocate economy In any measure without
provoking ridicule on the ground that one thing
too small and another too large, conveying the idea
that II was all mere flourish of trumpets, mere
demagoguism. Nevertheless, he thought this bill u
proper subject for an attempt to top Oh excresences
In the public service lie read some of the items
which went TO make up the amount last year.
Dir. FEssENDEN said it was not the fact OF economy
that lie had objected to- but rather that necessary
appropriations were objected TO on the score OF
economy thus holding out hopes to the country
that could not be realized. He explained that his
GnrIun M ha hal LARA atAfnrn