The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1873-12-04
The Standing Committees.
FOrtJ Third Congressional Session.
SENATE.

| WASHINGTON, Dec. 3.
Bills introduced: To provide for the better
| protection of the northern and northwestern
| frontier and facilitate commerce between the
| States; to organize the territory of Pembin O.;
| to authorize the construction of the custom
house, &c., at Portland, Oregon; to aid in the
| execution of the laws OF Utah; to. construct a
| fire proof building in Nebraska City, Neb.
| Bills were introduced by Mr.. Sherman TO pro-
vide for the redemption of the loan of 1858,
| authorizing the Secretary of the Treasury to
| issue in exchange for any of said bonds an
| equal amount at par of five per cent. bonds of
| the funded loan under the act Of July IA, 1870,
| and the amendatory act of January 20, 1871,
and declaring it to be the intention of the Unit
ed States to pay all coupon bonds OF said loan
of 1853 on the LIST of January 1774, except such
as holders thereof may elect within six months
| from said date to exchange for i've per cent
bonds of the funded loan, with interest from
| said January 1st
| Mr.. Pratt submitted resolution instructing
the Committee on Judiciary to inquire whether
| Congress has constitutional authority to create
corporations for constructing railroads or canals
| penetrating two or more States, and whether it
| has the authority to regulate the rates of rail-
| road transportation over the existing roads
| chartered by the States, which, by consolida-
| ton have continuous lines running through two
! or more States.
Mr.. Mitchell introduced resolution provid-
| ing for paying the losses sustained by Oregon
| by Indian depredations.
Mr.. Fenton's bill to provide for the better
| protection of the northwest frontier, &C., pro-
| vdes for loan of 100000 in U. S. ten-ffty
| Al per cent. bonds, to be made by the United
| States government to the State of New York,
| for the purpose of enlarging the acqueducts and
| one tier of locks on the Erie and Oswego canals
| to capacity to pass vessels of war 25 feet in
| width and 200 feet in length, and merchant
| vessels of 600 tons propelled b. steam, wherever
| said canals are less than 81 feet wide upon the
| bottom.
| The bill also provides that after the payment
| of the amount for which the canal revenues
| are now constitutioually Pledged, and after the
| canals are thus enlarged, their net revenue
| shall be paid into the Treasury of the United
States until toe proposed loan Of $8,000,000 is
| repaid. The bonds are to be issued upon the
report of the Commissioners as the work pro-
| crosses, every three months,
Mr.. Morrill, of VT, addressed the Senate on
| resolution instructing the Committee on FL
| nance to consider the expediency of reporting
| a bill to provide for the resumption of specie
| payments on January 1. 1875.
| He thought Congress should take advantage
| OF present circumstances to return to specie
| payments to relieve the people of the fuctua-
| tons OF currency. and people expect Congress
| to provide sound currency. He cOntrOverted
| many objections which have been made to re-
turn to specie payments. The continued flow
OF gold abroad was a continued advertisement
| of the depreciation of currency. If no efforts
| are made to prevent our bonds going 10 specie
| paying markets abroad, our currency will be
| handed down from generation to generation as
| incurable, The expansion of paper currency
had shipwrecked many enterprises that other
| wise would have been successful and the mer-
camille community has been seriously incon-
| venienced by the operations of Wall street. The
| proposed issue of bonds interchangeable for U.
| s. notes, he considered scheme fer the expan-
sion Of currency and he deprecated an excess
sive paper currency Outside of our own coun-
try, our paper does not pass at par. Oar depre-
ciated paperis working ruin to the morals of
people. Laboris cheated and disguised; work
is out of fashion Longing is.autocrat of the
times.
All obstacles to free banking should be re-
moved by return to specie payments He fav-
ored the plan that the Secretary of the Treasury
issue year certificates at $50 per anuum, re-
quring banks TO keep one moiety of revenue in
these certificates; the government on the first
day of January 1875, to pay its notes in cash,
and negotiate loan of $500, 000. 900 in coin at
used by the Treasury to pay claims. 1t would
be an honor to the Republican party to sweep
away the dark cloud of greenbacks and he
would soon offer bill for return tc specie
payments. Adjourned.
HOUSE.
Mr.. Butler of Mass, at the request of Mr..
Pinchback of La, moved that portion of the
resolution pending yesterday in regard to the
7, uisana, elections which applied to him
(Pinchback) be laid on the table. Mr.. Butler
said that he would introduce a resolution to re-
fer all credentials to the Election Committee.
The resolution SO far as it referred to Pinch
back was laid on the table.
A resolution to admit Davis and Hogan of
West Virginia, to seats without prejudice to
the contestants, was debated and referred to
the Election Committee.
Mr.. Storms gave notice of a bill repeating the
act prohibiting weekly papers passing through
the mails tree of postage.