The Plymouth weekly Democrat. (Plymouth, Ind.) 1860-1869, 1869-03-04
CONGRESSIONAL.
SENATE.

Feb. 27.-Mr. Ramsey introduced
bill to encourage telegraphic communi
cation with Europe. Referred.
Mr.. Ramsey moved to take up tn
joint resolution declaratory of the &C
to establish an American line O
steamships between this country am
Europe. 1t gives the company anoth
sryear to build their ships.
Mr.. Hendricks opposed taking u,
the bill.
Mr.. Whyte also opposed it, and sale
he would oppose the bill itself. There
were already two lines Of American
steamships from Baltimore.
Mr.. Nye asked him what flags those
ships sailed under.
Mr.. Whyte admitted that they sailed
under foreign flag.
! Mr.. Thayer was in favor of taking
up the bill. He liked, at least, the
object of ito take our mail carrying
business from foreign vessels.
Mr.. Morton then addressed the sem
ate on the bill in relation to the public
debt and currency.
Mr.. Morton thought the bill report
ed by this committee less remarkable
for what it did that what it failed to
do. It was not bill for the resumption
of specie-payments, nor for funding the
debt represented by greenbacks, and it
made no provision whatever for the
resumption of specie-paymcnts by ex-
listing national banks. The committee
seems to have been at loss for an ap-
propriate title for the bill. He thought
the might have better called it a bill to
improve the value of the bonds of the
country, for it was not designed to I'M
prove currency. 1t made no provision
for the payment Of that portion of the
public debt already due and dishonor-
ed; bu. provided that the surplus gold
in the treasury should be devoted TO
purchase, through the medium of gold
note 9, of bonds that would not be due
for fourteen or fifteen years. The
speech of the chairman Of the commit
tee, Mr.. Sherman, upon the bill, SEEM
ed to him inconsistent with itself, be-
cause, after declaring that sold aud
silver were the standard values of the
world. and setting forth the impol lance
OF an early return to specie payment,
he had made an elaborate argument to
show the disasters that would result to
the business Of the country from appre-
ciatipg the currency to par, aud bad
drawn such dark picture of the con =
dition of things to be brought about by
such appreciation, that, if his views
were correct, it would seem to be the
duty Of congress to avoid resumption
as long as possible but he believed the
dangers and hardships Of resumption
had been greatly exaggerated by the
senator from Ohio, and by others, in
and out of congress, and that the re-
sumption, if brought about gradually,
and by proper means, would not result
in evils Of the hundredth part Of the
magnitude anticipated by those gentle
men. 1t should be remembered that
there was great interest in the coun-
try opposed to the resumption Of specie
payments, for the premium on gold was
demoralizing the nation. That inter
est was trying to alarm the people in
regard to the effects of redemption and
indirectly attempting to control the
Legislation Of congress; and it was idle
to expect that those whose incomes
were payable In gold, which they could
sell at a premium Of at least 50 per
cent, would release their advantage
until compelled to do so.