The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1872-02-02
ADDITIONAL TELEGRAPH.
42d CONGRESS.
WASHINGTON, February /.
HOUSE.

The debate was resumed on the report oil
the Committee on Ways and Means as 10
the transactions Of the syndicate.
Mr.. MAYNARD, Of the committee, made
an elaborate argument In defense Of the
Secretary and In support Of the resolution
Of majority Of the committee.
Mr.. KELLEY, Of Pa, followed on the
same side.
Mr.. DAWES, Chairman Of the Commit.
tee on Ways and Means, closed the dc.
bate, and apOlogized for addressing the
House at this late stage Of such u dry
debate, his Justification for 1t being IL the
charges made against the Secretary OF
tho Treasury that he had made transac.
tiOns with the syndicate In defiance Of
law were true, and IL tho House pro.
nOunced them true, that fact would deal u
blow al the credit Of the nation more
severe than any II had sustained, even
from rebellion and war. He proceeded
10 defend the Secretary, and said he had
VIGOROUSLY shown that he had not viola.
ted but had executed the law, surprising
that the syndicate had made such profits
us the gentleman had alleged he had
made there at the expense Of the govern.
ment, which was not the case. What
profits had the United States made out Of
the Transaction In negotiating $780,.
100000 at per cent bonds and with.
drawing the same amount Of per cent
bonds Il had saving OF $2,000O00 a
year on $20,000,000 at the end Of ten
years, and that put at interest would
make $26 ,0O0, 900 at the end Of ten years
The present value Of that saving was
$A,Si0.000. The benefit OF the success
Of funding that $2000OO,0OO did not end
there, but 1t had so strengthened the
American credit abroad US 10 render il
certain that the balance Of the debt would
be funded ut four per cent. In that con.
nection he read u letter from Assistant Sec.
rotary, Richardson, dated London, Dec, 80,
relating TO q conversation which the
writer had had recently with the Gov.
ernor Of the Bank Of England, who Is rep
resented as saying that until lately he
had always thought the debt could not be
funded, but that 1t had been shown that
tho resources Of the country werc so i'm.
meuSe, and the determination to maintain
its credit so fixed and settled, that we
should soon be able 10 borrow money at
Jour per cent.
The vote was taken, and resolution de.
claring that the Secretary Of the Treasury
in negotiating the loan, had neither in,
creased the bonded debt, nor incurred an
expenditure contrary TO law, which was
adopted by strict party vote; yeas, ITO;
nays, Sc.
The House then went into a Committee
Oi the Whole, and resumed consideration
OF the Indian appropriation bill. After
the committee had got through with forty
pages Of the bill, and while there
was still thirty pages unread, an ar
rangemcnt was made that the committee
should rise and report bill allowing Ger.
tain amendments TO be offered in the
House.
Mr.. TAFFE offered an amendment pro.
Viding that no payment shall be made to
tribes that are at war with the United
States, but that il portions Of such
tribes shall remain at peace, and
observe their treaty. The obliga.
lions for payment may be made TO such
portion pro rata, and also providing that
all appropriations for the Indians shall be
liable to payment for deprcdations COM
mitted by any OF those tribes without
dispOsing Of the other amendment. The
House adjourned.
SENATE.
Bills were introduced and referred ms
follows:
BY Mr.. MORRILL,, OF Maine, authorizing
tho Secretary Of the Navy to distribute
among the officers and crew belonging 10
the U. s. steamer Kearsarge while en-.
gagged in the capture and destruction of
the Alabama che SUN Of 100000 as prize
money in lieu OF the bounty authorized
by the act oil June 30, 1864; provided, the
money shall not be paid to the assignees
OF mariners, but only to themselves or
legal representatives; by Mr.. KELLOGG,
establishing drawback on all foreign
materials used in the construction of
American built vessels; increasing the
compensation OF letter carriers to 81, zoo
per year, and re establishing mint at
New Orleans.
Mr.. SHERMAN introduced bill for the
relief Of Miles Greenwood, naval cOntrac.
tor.
MIR. SAWYER introduced bill 10 en-.
courage Geographic communication be.
tween America, Asia and Europe.
MIR. LEWIS made personal explana.
ton, sayins that he was always in favor
of equal rights to the colorcd people.
MIR. LOGAN called up the pending reso.
luton TO reconsider the vote by which the |
Chicago relief bill was passed.
At the expiration Of the morning hour
the bill went over, and the amnesty bill
was taken up without reaching vote.
The Senate then went into executive
session and soon after adjourned.