The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1869-03-01
CONGREssEoNA14
xLth CONGRESS- THIRD SESSION.

sENATE......W W AsHINGToN. February q.
Fessenden presented the credentials of
Hannibal Hamiin, SENATOR eject from
NJ aine.e..s rf un H8o ~ ~
more effeetuaIly t0 insure the faithful COM
pleLion of the Pacific Railroad by with
holding Government bonds Till certain
conditions are com led with 3 Eab@
After discussion, the resolution was
tewart offered a resolution requesting
the President TO transmit for hwtth To
each Executive of the several States copy
of the constitutional Amendment 50 as 10
secure An early ratification.
Davis objected.
The resolution went over.
Toe bill to strengthen the public credit
Davis proposed a substitute, and adyo
Bavsrd had no objection to the first sec
tton of the bill, but believed the second
section. making coin contracts legal, was
wholly unnt cassary and likely to multiply
litigation, and therefore he moved 10 strlke Q
Morton said the section was necessary as
q Limitation upon the power TO make coin
contracts under the decision of the Hupe-
rior Court.
FreIinghuysen moved to strike out the
clause OF the se:tioi pFoviding Bhat in a
trial brought for the enforcenlentof a coin
contract proof of the real consideration
may be given.
pie of the country should net be allowed
10 make their contrac > in whatever form
they please and he believed that any
limita ion of their right to do so would
tend o postpone the resumption of specie
ConkIing also thought it better to leave
the people Tree TO make such contracts as
they might choose.
Howe thought tue clause proposed to be
struck out should be retained as a protec-
ton.
Dixon spoke in favor of the bill.
Henderson moved to amend the second
section, SO as to leave out the words "only
contracts hereunder made spec hcaily pay
able in coin shall De legal and valid, and
may be enforeed according 10 the term~.''.
Hend Icks was ming TO vote for this
provision but was opposed to Inc frs sec
ton OF the bill because il was not dssisu-
ed to have any practical effect, but merely
to put upon the past financial legislation
of Congress conetIuctton u wuch Chey
/ e bonded debt OF the country six hum
dred millions without increasing IN any
degree the abi!it5 OF the country 70 pay
the debt The bonds OF the country hitd
been bought by the monied men OF the
country with view to profit
F.dmnnds asked what the senator from
indiana meant by saying that the bonds
had been bought by the monied mon or
the country, when the candidate OF his
in his speeches that the bulk OF them Were
held by widows, orphans and other peo-
pie.
he meant men who had monty vino hid
the wherewlthaI to buy bonds, and AL
though some o. them were douOJleSs COM
paratively poor, yet he believed they were
chiefly persons OF large meanS who soug1t
q profita Gie investment. ts W. - w
Edmur ds inquired whether he wished
to sacrifice poor bondholders in order to
punish the rich. HE
Hendricks said he did not wish tosacri-
flee any bodyl according to the contract.
| and in tn II way nobody woult be s"crl
| feed, and the pending blli II a>Ned.
would, in his Judgment, cOrtrIet the cur
| rency, because that would interfere with
/ our national enterprise ana commerce,
/ W hich should be raj har promoted tn every
IA a In
| trade with Europe ~ our favor, an lsv Ien
| that result ShOul have been attained, the
nation cOul ID resume specie pay III :nt+, out
| no sooner. g- -
| Ctrb Il thought thevalue of our bonds
would be increased. aud our credit abroad
| strengthened by Se hrSt section OF the oil,
| and tiiat therefore, il ought to be passe l..
/ Hendricks amendment vas rejected;
yeas 10, nays 35.
| Bayard's nlotton to strike out the second
section was then lost; yeas I, nays 81.
| Recess.