New-York tribune., 1868-07-27

and tn the reduction of the principal of the
debt. No change was made in the bill which
i'm any manner affected the question OF the pay
ment of the principal of the bonds.
On the 14th of February, the bill came back
fo the House and was made q special order iOT
February 10, when it was again debated, some
of the amendments adopted, and some re-
iccted and, after submitting the differences
between the two Houses to Conference Com
mittee, it was passed February %, and on the
following day became a law 10y receiving the
approval of the President.
! have carefully gone over all the proceed
ingS as recorded in The Globe and in the Jour
nal of the House, and | have not found an in
tlmatiOn made, directly or indirectly, by any
member, that 1t was ever dreamed the prlncl-
pal OF these bonds could be paid in anything
but gold. On the contrary, all who did reIer
to the subject spoke in the most positive terms
that, as a matter of course, they were payable
in gold.
Mr.. SPAULDING of New-York said
They iutcnd to foot all the bills, and ultimately pay
the whole principal and interest GSe q Ssa VOL Si a. s' p sa
Mr.. POMEROY, who is now member oil the
House, said:
payment OF both these classes of indebtedness ultimately
ia gold; each derives its entire value from that %.
Mr. PIKE of Maine, now a member of this
House, said:
"With all due Difference to the gentlemen who differ
with me on TINS subject II does seem 70 lt .C s's bnt
goats WOOL The interest Will be paid in coin in any
Now, Mr. Speaker, have proved from the
record the correctness OF every declaration j
made in reference to the opinion OF Congress
at the time of the passage OF the FIVE twenty
BILL and particularly the opinion of the gentle
man man ' from n" PENNSYLVANIA. This might seem
sufficient but wish to carry the investigation
a step further.
About one year later, when the House was
debating the bill for issuing what are, now
n II 10 tba non
from Pennsylvania Mr.. Steyensl who mad
offered an amendment to make the interest
payable in paper, inteTiected into speech OF
MI Horton OF Ohio the following remark (Sce
Globe, January 10, 1868; page 3oS):
"If would be fair suppose, 10 state mat my amend
meut proposes pay for these bonds at the end OF ten
years in COIN but to pay the Interest ~ currency We
redeem the bonds III currency.
" MI HORToN-l cannot state What the gentleman ashs
to state because according TO my YeW Is not cor
rect The bill OF the Committee of Ways and MeaHs does
not contemplate paving in paper
"Br. sTEvENs-Wii the gentleman allow me to ask HIM
@Mr HoRroN-Cortainly.
"Mr sTEyESs-Are not the bonds payable in lawful
money, whatever that Is
mir. HoRTON-NO. Sir.
"Mr' sTFvEXs-Thcn the Committee OF Ways aud
Means and do not agree as 60 its meaning
"Mr. HORTON-I speak only for myself ana appear 70
the bill The policy Of the bill is TO pay the interest n
coin and to collect the impos IN coin, aud tofedeen me
So far as / can learn. this was the first word
ever spoken in Congress suggesting the posi-
bilty of paying these bonds III anything Dut
Now. notice the effect of this suggestion. On
the following day, Jan. %, while the same OH
was pending, Mr.. Thomas of Massachusetts
moved to amend by inserting the words III
COIN in the first section. Mr. Molllil OF Hetr
mont moved to add the words ana bullion.
Then Mr.. Horton said (See Globe, vol. AZ, page
42l: .,.o ...,.,,,,,.,,, -, ,,o ,o,,,or,or
from Vermont, winch Is TO include bullion WIN E9dlh
-. of lncnh
amendment Of the gentlemen from Massachusetts, to
male he gaqbe N gom WISH TO- say & tiat m !no ca S%
dreamed that these twenty year bonds were pdydJ ~ any
thing other than gold until tho gentleman IRON lSn
S{{d'a3@ ~ IIoTsc S'lr' ''o''"'' 'O''' II
Mr. sTfvExsI do not like to refer to what occurred
in Committee. but | ask the gentleman from vermont
whether he did not state that lie expected they would be
Mr. HoRroS-i say to the gentleman and to this Com
mtee that never heard an expression by any member
of the Committee Of Ways and Mean, OF the possibility
that these bonds TO be payable in anything other
than coin. The form here proposed ne FORM 9l"ay
they have always been paid in coin mp 70 this day even
as late as the 8is day Of December the bonds then com
ing due were paid in coin in accordance with the UNIFORM
"Mr s1EvESs-I oqght TO say that am informed by Ry
the gentleman from Vermont that ne dld ot naHH nc
remark in the Compttee which just attributed TO MN
MIR. HoRroS-I know nothing Of any such remark"
The amendment of Mr.. Thomas was then
adopted without division.
Thus, Mr. Speaker, | have shown that when
D II
House in 1862 all WhO referred to the subject
stated that the principal Of those bonds cdS pay
dJle in gold; that the gentleman from Penhs.N-
rdRiG Mr.. StevensI so stated IRE d'ShRct tmeS,
and DO member suggested anything to the con,
/ trarv; that when in 1868 that gentleman raised
a doubt on the subject he was promptly met
hy the statement of leading member of the
Committee of Ways and Means that he nerer
| before heard such Il suggestion, ana nobody on
! the Committee Of Ways and Means dreamed Of
the possibility Of paying them IN anything 6W
coin: and finally, from abundant caution, and
because of the doubt thus raised, the words
" in coin" were inserted in the law authorizing
the ten forty bonds and so far as the record
shows no other member, either IN 1862 or IN
1863 shared the gentlemans doubt. Let 1t be
remembered that | have not discussed the IAN
guage Of the law, but only its history and the
construction placed upon it by those who made
it at the time they made It.
At the expiration Of the fifteen minutes al
lowed Mr.. Garfield,
Mr.. WAsHBUENE of Illinois moved that his
time be extended for three minutes.
Mr.. BUTLER of Massachusetts-l object. !
do not want to have a speech on one side only.
Mr. GARFIELD--lt is not speech.
Mr BUTLER of Massachusetts-It is as near
like a speech as anything | ever heard.
Mr. GARFIELD ask leave to print the con
cusiOn OF my remarks.
There was 10 objection, and it was ordered
accordingly.
Mr.. STEVENS PAL suppose I am not
allowed to reply to the gentleman now. /
have no controversy with him. Why it is he
has renewed the attack upon me, God only
knows. | only referred to him as speaking the
language of another, the Secretary of the
Treasury; and, when the proper time comes
will show there is not a word OF truth III what
either one of them says.
MY FIRST BEES AND HOW GOT THEM
| always liked bees, and always wanted to
own some myself had the impression that people
who had bees were mostly wealthy, ana i thought
! 81, I gffc | would bp rich