The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-01-22

therefore twenty per cent less valuable than gold.
was in the United states Treasury and the banks
receive i've per cent from the governments on
Of the rates Of interest," and sad ne put 4 70 the
Senate. he put 1t to the world. TO answer n IN
%s Of
could not be nxed BY law. It could not
b controlled by politicians and statesmen,
regulate It. Tho merchants and business OF tho
nation would NIX IL the banks should belong 20
IKE 70 see GongGess grant CHARTER for great
national bank. Let the shares be az SO eacn' 30
the cspa socs P Be- and 10
In every State. In time OF war such bank would
70 the relief o. os aa once
come near destroying the government. ana unless
Congress do something TO produce an equlliDrium
Mr.. EDMUNDs, OF Vermont, inquired II the gen.
tieman believed Congress- could produce this
! there should be, where located, Scr
4 Mr.. MERRIMoN SAID Congress- could improve the
ana ~ shs Country snp bn,
ing, and thousands OF other things could be done
to produce such eq1ihorium. But while No 60 on
interest," New England with another, the South
with another. and when they come In conflict the
result WIN DC CLASH OF arma They did 1t once
Mr.. EDNuNDs said ne did not rise for the purpose
urs senaency Of wSs to the pocxets
those having the right 20 It. be knew Of no con-
trlvance BY which Congress- could keep money in
any SeCtiOu unless the circumstances OF the people
IN such section should entitle them to keep the
money. Every citizen has the right to put his
money where he thinks he can make the most OF
It. Neither Congress nor any other power could
interfere with this right OF the people. Money Is
rest. Granting thss nifty millions mo more be given
70 the South and West, IL would nuctuate to
The pockets Of those entitled to It. He did
not believe there was dollar more in Vermont
now than there would be II every bank in the State
was removed to Louisiana. Every man entitled to
triyance or legislation could force money to
main IN the West or South until by industry and
became the owners Of it New England could not
keep money which she owed to the West She
must send l. where + oeiongs and the same II she
the money must come there. To provide, there
lore, BY law any policy which would compel the
circulating medium TO remain In Ona section rather
than Ia another was an imposstbiity
Mr.. MERRIMoN said the Senator from Vermont
Mr. Edmunds) went upon the principle that the
normal condition. There were circumstances
which have I'VE .orced the money from ON the West ana
cotton annually, and the money paid for 1t should
be at the south. What, in the natural course OF
somew here-some false basis. Ii the people OF
the South had the capital they would build up
and Wall street. instead OF being In New York,
would be in Charleston, Savannah or New Orleans
Our industrial affairs are not IN their normal state.
people Of the south having capacity to develop
resources II they had the capital. How were they
MI. MERRixoN-we wish your people to come
there.
Mr.. EDxuNDs-Well, Mr. President, to that say
amen. But how are they to go theref Will they
ind equal justice In the courtsf Will they ind
honest LABOR respeotedY tne south desires capital
administered in every State. that life and prop
erty will be a. safe as In New England. Then the
sources Of the country viii be developed; but not
until then VIII the people invest their earnings
to promote equal Justice, have peace and order
everywhere, then Northern capital would go there.
Mr. M5naIsos SAID he hoped they would n s cease
The war Is over, and those statements should be
OF the past He would assure the gentleman that
anybody rom New England or California was Just
as safe In his State North CarOna} or anywhere
in the South as II he were In Vermont or any.
crime, and the ratio Of crime and outrage were In
favor OF the south BY two to one.
Mr. ED1gSps Sad ne naa eeen ,n to c, on go0d
burn, In the gentieman's own State, and estaD-
hshed business, was entirely ignored: He had
the only reason for such treatment was that he
was Yankee. New England men had been taught
to believe in the honesty OF labor. He did not
make this statement as reproach to North Caro-
Lima or 10 his friend from that State but he would
rom New Enaano to ansaae IN pur
suits IN the South, just so long would the south
wither and cry for more money, which she cannot
Mr.. MERRMoN-In the case at Newborn, referred
to by the gentleman, there were some cincum-
stances connected with the man which deprived
him OF that society he sought to enter. lew days
ago the Treasurer OF the United States stopped at
Charlotte, N. G. grand reception was rendered
him, and SO well was he pleased that he remained
there several days. The statements whispered in
the ears OF bis honored friend tMr. Edmunds) were
not true; respectable people were welcome IN the
South, no matter where nom. With man seek
ing society in the south IL was just the same as
seektng 1t in New England. II he were worthy he
c0a1d go into society
Mr.. EDMUsDs said he was glad to know that
these statements In regard to Ill treatment OF
people In the South were not true now; but until
recently they we're true As q rule no on1cer or
the United states Army, sent TO any particular
post or station, was received into society. lie
lMr. Edmunds had visited the South. and had
been told that the only people who associated with
army Ofncers were those termed 'scalawags'' by
those oil their own section.
Mr.. MERRMoN-Will my friend allow me to state
that know that Is not true In my own StateS
Mr.. EDhUNDs said he was glad 10 hear that times
had changed since he was In the South in 1867.
He had received his Information from army Off,
GERS, and he had high respect FOR them, as they
had been taught to tell the truth as well as to
work IT out sometimes with their own good
swords.
EXECUTIVE SESSION.
Mr.. EDMUNDS then, at fifteen minutes past three
O'Clock, moved that the Senate proceed to execu-
tive business, which motion prevailed At half
past four O'Clock P. NJ. the doors reopened and the
Senate adjourned
HOUSE OF REPRESENTATIVES,