The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1870-01-13
CONGRESSIONAL.
xlIst COSHREss-sECO ~ sE,sgoE

SENAT E......... WAsHINCroS, ia =. =.
Conkling presented resoluti0ns Oh
the Legislature of New YoTkSWithS
drawing the assent of that State to
the ratification Of the Fifteenth
Amendment He said he thus dis
charged a distasteiul dnty, and re.
gretted that q record 50 iil-a0vised
shall have come from the State Of
New York. Another day he would
show how little such a proceeding
deserved the confederation of the
Senate.
Drake offered Resolution. which
was laid on the table. that Indian
treaties be considered in open ses-
sion.
Sumner INTRODUCED bill 10 author
ize debt and to extend the banking
facilities, and TO establish specie pay
ments. He said the bill contem-
plated the prompt extinguishment of
the ) 20y Of 1862, upon certain
period ofn0tice, say six months, so that
distant holders in Europe may be
advised that the interest on the five
twenfies of 1862 shall cease, and t q
boads be forthwith redeemed In coin.
These six per cent five tWenties of
1867, amounting to upwards Of
$500, 100000, would be refunded into
the five per cent. ten-forties, whose
payment Ia coin was expressly stipU-
lated by the act authorizing the issue,
with new issue of the latter limited
to $500, ,000, 600. Foreign holders of
six per cent. bonds Of 1862 would
accept five per cent. bonds in lieu of
coin.
So much Of that loan as IS held at
home, may be paid In coin if prefer
red, by the holders, from the pro-
ceeds of an equal amount Of iives
placed in Europe at par for coin
Our five per cent. bonds being limited
in amount after being taken at par in
preference to coin. will advance in
value so that the Investment will be-
come popular, aud the national credit
/ will thus be maintained. the offer be-
/ ing plain bonds or coin, giving the
world assurance OF our determlna-
( ton to answer, will be as prompt as
| TO offer bonds and not coin "a re-
gard to the National Banks which
| had done SO much to furnish uni.
/ form currency, two things were EBces-
| sary. Bonds deposited by them with
| GoYernment, must be reduced in inter
est, and the system must be extended
/ SO as to supply much needed facilities,
| especially at the West aud South.
Tht requirement from all banks of
/ the hew four per cent. bonds, at the
/ rate of 800 for $50 Of notes issued
and TO be issued, would absorb f625,
! 600, 600 Of the national debt Into four
I per cent. bonds, which. with the with
| drayal of one dollar in greenbacks
! for each additional dollar of notes,
/ will 60 far to extinguish the out
standing greenbacks, TINS quietly re.
/ moving an impediment to. specie pay
ment. BY this bill It is sought to
bring national obligations to a par
value with coin. and to resume specie
/ payment without effort, by which our
bonds would be made the most popu-
/ lar Ia the market.
Wilson, from the Military Com nit
/ tee, reported favorably on the joint
/ resolutions setting apart portion of
I Fort Smelling as military reserva-
I ton, for a permanent military post,
and for the settlement Of claims in
relation thereto.
| Ramsey introduced bill granting
lands to aid IN the construction of a
railroad from the western boundary
trict of British Columbia.
\ The Virginia bill was then taken
up, and the consideration of the
amendment offered by Drake, to pre-
vent the resembling of the ratification
4 of the Fifteenth Amendment by Vir-
! ginia, was resumed.