The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-07-22

the amendment in reference to the expenditure for
rivers and harbors means this-that the secretary u
the million and half for any works other than those
named in the River and Harbor bill passed by the
House.
Mr. WAsHBURNE- is the provso to the amend
ment.
Mr. EGGLEsrON-That is right.
Mr. WAsHBURNE, OF ILL.,, sad that he was glad TO
say to the House that Deficiency bill just passed
the last OF the appropriation Dis, ana tne pub
lie could now figure up the entire amount o. the
year. He said the bills had been considered with
the greatest care by the Appropriation Committees
OF both houses, and he thought there were less OBJ
lectionable items in the bills than there had been
Tor many years. The expenditures had been largely
cut down. and great deal OF vicious iegisla-
ton that had crept in during the war had been
purged from the statute books, and he could
say, too, that the bills were all through in
good season and at period anterior TO the
time of liking the day OF final adjournment. That
was matter which he believed was unprecedented
in the history OF the legislation OF the House. For
merly the most OF the large appropriation bills were
rushed through al the very last hours of the session
and in the most hurried and confused manner, but
few OF the members having any idea OF what they
contained. AS to the amount OF the appropriations
for the present year, Mr.. Washbune said that there
was the fixed sum for interest on the
public debt for pensions and for bounties,
amounting in the aggregate to $1,000.
That amount cOuld not be essened. IL was the 0rdl-
nary expenses for carrying on all the operations OF the
government for the present fiscal year that this Con-
gress was responsible for, and the people would de,
mand to know what they were. Mr.. Washburne said
millions, and that would be against seventy millions in
gold coin in the administration of Mr.. Buchanan.
Considering all things--the increase OF population,
the natural Increase OF expenditures and the In
creased prices OF everything the government had to
buy, he considered the comparison more favorable
one, and the fact will forever stand out to the credit
OF this Congress- The estimates Of expenditure for
TINS year sent in by the present democratic admins
traton-
Mr.. RANDALL with an air OF astonishment)-Th
present what? (Laughter.)
Mr.. WAsHBURNE without noticing the Interrupt
ton)-Were three hundred and seventy-twO millions,
including all interest on public debt, pension and
bOunties |; but the entire amount appropriated by
this republican Congress, including such interest,
bOunties and pensions, will not amount to more than
two hundred and nnety-two millions, difference OF
eighty millions in favor of Congress With these ap
preparation bills through, and without thrustng
upon the country the schemes or robbery and plum,
der with which we are threatened and which are
now lying in wait-if we should now promptly adj
J0urn and 60 home we would be welcomed by our
constituents as faithful public servants.
Mr. RANDALL said he wanted to express the
one that s
The report Of the Conference Committee was
agreed to-.
CONSIDERATION OF THE FUNDING BILL RESUMED.
The consideration Of the Funding bill was re-
sumed and the discussion was continued by Messrs.
Lawrence, of Ohio, and Benton in favor Of the pro-
Mr. SoHENCK, (rep) of Ohio, closed the discussion
and advocated the passage of the bill as one that
would put an end to all doubts and questions that
perplexed and disturbed the public mind, fixing
definitely the principle OF exemption of bonds from
all taxation and fixing their mode OF payment.
The debate being closed, Mr.. HOLMAN moved to lay
the bill on the table, which was negatived-yeas 49,
nays 100.
The House then proceeded to vote on the amend
ments reported from the Committee OF the Whole.
The first amendment, fixing the lowest denomination
of bonds at 500, was agreed to without division.
The second amendment strikes out the provision
for twenty, thirty and forty year bonds at various
rates of interest and substitutes for it issue Of
forty year bonds at 3.65 per cent interest.
Mr. BROOKS demanded the yeas and nays
The amendment was agreed tO-yeas "A, nays 81.
The third amendment changes the language in re-
gard to taxation OF bonds so that the income from
them shall not ever be liable to income tax.
This amendment was agreed tO-yeas IS, nays SO.
Amendments from four to nine, being merely
verbal, were agreed to.
The tenth amendment is to strike ont the section
of the Senate bill which legazcs coin contracts The
amendment was agreed tO-yeas 81, nays As.
The eleventh and twelfth amendments being
merely verbal, were agreed to.
The thirteenth amendment being q new section
offered In committee by Mr.. Randall requiring sales,
&C., OF public bonds to be made by advertising for
proposals, was agreed to without q division.
The fourteenth amendment, being q new section
offered In committee BY Mr.. Logan, requiring the
tax on income Of bonds to be assessed and collected
by the Treasurer, was agreed to on vote by tell
ers-yeas 30, nays 20
The fifteenth amendment, being new section, was
also offered in committee by Mr. Logan Terminating
the authority OF the Secretary to issue bonds SC
under existing laws, and was agreed to without u
division.
substitute Tor the bill providing for three classes Of
bonds at per cent, 41s per cent and 3.65 per
cent; the latter payape IN London, Paris OF Frank
fort.
The substitute was rejected-yeas SO, nays 70
Mr. WARD (rep.l Of n. u. moved that the bill be
laid on the table, which was rejected, only "a voting
in the Affirmative.
The question then being on the passage OF the bill
Mr.. BOUTWELL, rose and said, that inasmuch as this
bill, II 1t passed. would postpone all possibility Of
paying of any portion OF the public debt for forty
years, which TO his mind was equivalent TO an in
definite postponement OF all effort to pay the public
debt Of the country he would be constrained to vote
against 1t. 1t provided for a sinking fund by
which there would be a residuum applicable
and he asked how the people were to hold that ac-
cumulatOn OF fifty millions year for forty years
He considered the whole proposition so entirely
wise that he would be constrained TO vote against it.
Mr. SCHENCK replied briefly to Mr. Boutwells re-
MARKS and reiterated the strong points OF the bill.
The vote was taken and the bill was passed-yeas
70, nays SO.
motion to reconsider was laid on the table, The
bill Is IN the same shape as 1t appeared at the close
OF Saturdays proceedings.
The House then, at quarter after ten O'clock ad-
.-....