The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1870-01-29
HoUsE.-..-..W WAsHIxoroN, Jan. Is

By wilson, or Minnesota, To preserve tne
navigation of the mississippi, at or near
the Falls OF st. Anthony.
By Strickland, granting lands to the
Deer Creek d Marble Quarry Railroad, IN
By Mercer, for the collection of debts
due from Southern railroads and corpo-
rations.
BY DoeEery, amendatory bankrupt law
bills, reported from the committee as fol-
lows:
By Clark, from the Committee on Indian
Affairs, for the removal OF Usage Indians
to the Indian Territory, and TO dispose OF
their lands to actual settlers only rscom-
mitted.
By Snanks, from the same committee,
for a similar removal OF KRpsas tribes OF
Indians kecommitted.
The bill was explained and advocated
by MessIs. Coke and Latin, the latter ia k
ing pains to exonerate the Congressional
Printer from the newspaper charges, de-
of his office. IT was then passed without q
Churchill, from the COMMITTEES on Etec-
rlons, made report in the case of claim
ants of seats from the state of Georgia,
under the election of A pril goth, 1868, de :
caring them not entitled 10 their seats.
The claimants were admitted TO seats last
Congress, and claim to have been entitled,
under the same election, 10 seats In the
present Congress. After some discussion
and explanation, the resolution was
Paine, from the Committee on elections,
asked that the Committee be disch arged
from further consideration of the claims of
Simpson, a member elected from the
Fourth District OF South Carolina, he be-
ing u1abl7 to take the oath so ordered.
The following bill were introduced and
By CnlIun, to organize the Territory of
Lincoln, and TO consolidate the indian
tribes into a Territorial Government; also
to provide a Territorial Govern nment for
the Dis trict of Coium biG.
Stevens offered resolution calling on
the Secretary of the Navy for reports of
Rear Admiral Davis on the subject of the
Darien Canal. Adopted.
The House then, at 2;20, went into Com
m1ttee of the Whole, with Cessna in the
Chair, on the Legislative, Executive anu
Judicial Appropriation Bill
Voorhees, addressed the House
1n discussing the origin and cxistenes of
the National Debt he solemnly asserted
as stated in the papers, had no existence
in reality; that 1t was fiction created. by
unjust and scandalous legislation, or still
more, unjust and scandalous perverslon
of the true contract; that it was fraud
fastened upon the labor. OF the nation,
utterly without cons deration, either legal
or moral: that it was sheer aud naked ex
toTtion from the wants, necessities. and
heiplessness of the people, and when they
were wholly at the mercy of capital. he
had made his calculations and male them
safely. He had under estimated the
wrongs OF the people and the enorm us
advan tages of the bondholders rather
than over estimated them. In 1852, there
were issued bonds TO the amount of 600, ,992,-
2 i'd was then 1881 in currency. At that
rate, purchasers OF the first fssue-over six
ty m1llions-patd for those bonds 44030,-
$40 in gold. If those bonds were to be
paid back in gold, the holders would re
ceive &l6, ,95l sol more than they paid to the
On this bonus interest TO the amount of
Sc, ,l02, ,654 was already paid, and the inter
est yet to accrue on 1t would reach the sum
OF Sl4, ,&9 526. The account, therefore, in
1862, stood as follows: amount of honGs
sold StO. .9S2, ,450; amount paid for them S44,-
O31, SO; amount of bonus gI6 a5l sol: inter
ar atTaadW I'll rsaf the l. In
tefeSt yet TO be p ltd on the bonus Sl4 423f,
628; amount of bonus and interest thereon
So, ,293, 9SI. Thus it wouli be seen that on
an investment of 8 little over forty-four
millions, the trafhcker in national bonds
had obta1ned securities for over thirty ssv-
en- miI1ans, not one dollar OF which mad
left their Golfers or ever found its way to
the vault of the Treasury. Some system
OF calcull ion on bonds Issued IN 1868 were
el60, ,037 $40, with gold averaging at l5S,
showed that the bondholders had paid
only S10l, $50 ,S54, and that the bonus and
0o3,736 on transactlonsifor that year. The
result for 1sO4, when gold averaged pol,
was as follows: the amount of bonds Is
sued. - u ~ ,Z5O; amount paid for them,
Sl89, ,697 ,G36: amount -Of bonus, Sl9l 59f, ,6I4 :
interest already paid on bonus, S45 $50, 708 !;
interest TO be paid on bonus, Sls3,930 ,s32 ;
amount of bonus and interest on bonus
S42I sos. Isl Like calculation FOR 1865, with
average price Of gold at liS, showed an
issue of Z79,748, $50; bonus and interest
thereon Tor the amount Of Sl57 5000. The
result Of 1875, on an issue ofsi9 9I4 ,40], with
gold at l4l, Wa1 2 bonus and interest
thereon OF s79,907 ,769. The result of 1867, on
an issue of S42l, ,48J.550, with gold'at l39, was
bonus and interest thereon OF $780,
15s,s07 The result for 1858, on an
I35 was bonus and interest thereon
of S247, ,755, ,457. a like calculation on per
cent. bonds, SlQ5, l39,550, showed the result
of bonus and interest thereon of S216. $780,
994. The amount OF interest and bonus
thereon on the whole bonded debt he
showed, by this calculation, to reach a
stupendous n al of 81, ,52e, ,558, ,956. The total
amount psid to the Government or the
whole bonded debt was 81, ,s7I, ,424, ,23S Who
history Of Constitutional Governments,
And to sustain all this injustice tue peo-
pie were taxed as no people ever were be-
fore. The amount of Federal taxation was
$500, ,923, ,402; amount of State and local tax
alton S25OO0O,O00. the total amounting to
S6I6, ,924, ,402. There was no language within
The scope of the human tongue that could
exaggeEate the overwhelming significance
Of these figures In the face of all tuis
policy which made free from all tax or
trloute more than one.tenth OF the prop
erty OF the United states Painting had
theme Il presented a sinister and shock
Ing aspect TO the tax payer.
ster. The sight of 1t ext tOrted desperate
cry FOR relief. It could not, il would not
be borne: but should they therefore at
tempt 70 build city refuge from this dis
tress or the shifting quIcksands of repu-
diatIon? Mighty wrongs and q CALLING
minds to embrace that fearful doctrine,
and many more might yet follow with the
same disastrous tendency, as the issue was
IN the hands of the party in power. He
himself was not for repudiation. He saw
in 1t neither safety nor honor. Ifrepudia-
tiOn should hereafter come to dIsnonor
our a merican name at home and abroad,
1t would be because the dominant party
pcrsistently enable creditors ard class
of bond holding monopoly to violate their
part OF the contract, to D under the people
70 an alarming extent. The doctrines on
which he placed himself with an absolute
faith In lis legibility-, was that embraced
in The noble and upright resolution
of the recent Democratic Convention
of Indiana, that the debt should be
contract, the FiYe-tWenty bonds being
payable in greenbacks. The law which
d nth rjZed the issue of national currency
said, in very plain and simple words that
it is a legal tender for all debts public and
pLlVate, except duties on imports and IN
lerest on tue public debt; therefore, If
people owed anything else besides dutfes
on imports and Interest on the pubic
debt greenback currency was LEGAL tender
for It's pay ment. That rose at once. bv The
bare statement, to the fun force of demon-
stration.
the PRESIDENT and his administration
Butler, of Massachusetts,, obtained the
HO0r Tor the purpose, as he said of savinU
q lew words In addition In defense OF the
Republican party aud the administrator
1t would survive the assaults made nv the
gentleman from Indiana tVoorheesl in MS
DNN@ete%AA1 RSA4ONAos Jul IL GOula not stand
an assault IN Tue mouse of It's friends He
declared that his colleague, Dawes. yester-
day. had eontroverted no word. or figure.
or calculation, or estimate which he Tf3ut-
lerl had submitted to. with one exceptfon.
and that was an error of 500 Geo or $500 O06
over and above the error of s., COO 600 in
the estimate of the POstodice The esti-
mate was made by adding the estimated
revenue of the Department 10 ita esti-
mated expenditure. What had prevented
his colleague from stating In his first
speeen the particulars of the inter-
view which he had had with the
President He would over xpsl,,T