Port Royal commercial and Beaufort County Republican. [volume] (Port Royal, S.C.) 1873-1874, 1874-02-19
XLHId CONGRESS-.
SENATE.


the army, whose name shall have been borne
upon the register 45 years or who shall be 62
years Of age.
In the financial discussion, Mr. Sherman, of
Ohio, said that on June 80, 1863, the legal tenders
outstanding amounted to $3.50, ,OOO, 900. On tho
1st Of January last they amounted to S37S, ,4S1,-
$780, or an increase in the form Of security of
$22. .4S1, ,339. The fractional currency, which
in 1869 amounted to S27, sos, 92S, now amounte
to S48, ,554, 1872, being an increase OF over 81,
000. 900 and again, the national bank circula-
ton had been Increased from S299, 7S9, 900 to
SS39, 1881, ,O00 making the total increase on the
currency over sS2, ,000, 900. He argued that it
had been practicable during the last four years
to advance our notes to specie value. II not,
when would it be !?
Mr.. Mitchell, Of Oregon, introduced bill to
provide for the incorporation Of the Portland,
Oregon and Salt Lake Railroad and Telegraph
Company, the United States Government to
guarantee the payment of interest on the COM
pany's bonds to the extent Of ten thousand dol
lars per mile.
Mr.. Logan, OF H., in discussing the finance
question said he did not oppose an ultimate re-
turn to specie payments, but considered such
return at present impracticable and unneces-
sary. Gold and silver are not sufficient in
amount to return to coin payment. They do
not and cannot represent the value Of labor,
industry and commerce, consequently gold and
silver cannot now serve as the standard OF
value or medium Of exchange in this country.
The confidence Of the people in our paper
currency has never wavered. In the days OF
the panic gold fell to one hundred and six. The
Senator from Missouri showed that the amount
Of our currency per capita in 1860 was fourteen
dollars and fifty cents, and that it is now
nineteen dollars The logical result goes even
further. In 1860 the amount Of property per
capita was five dollars and twenty-si1 cents,
which increased to seven dollars and ninety
one cents in 1870. The same ratio Of increase
Of currency would now require twenty-five
dollars per capita, a total circulation Of eight
hundred and fifty million dollars. This amount
is now needed for active circulation. 1t would
not be in excess Of the amount per capita in
Great Britain and France. The most reliable
recent statistics represent the circulation in
France at fifty dollars per capita and in Great
Britain at twenty-five dollars per capita. which
latter is ten per centum more than is here
demanded.
Mr.. Sherman, Of Ohio, presented petition
of the National Board of Trade against any
increase Of the volume Of currency, asking that
the national Banking act be amended, and that
the volume Of fractional currency be reduced.
The Committee on Transportation Routes
was requested to report on the subject within
a reasonable time, giving full details OF the
cheap transportation question 30 far as they
were able.
Petitions we're presented by Senators Bout
we'll, Sherman, Fenton, Ramsey, Wright
Chandler, Anthony, and others from women
in various parts Of the country asking for
legislation comforting upon them the right to
vote.
Mr. Merriman, of N. c., said our country
enjoyed the confidence Of its people more than
any country on the face of the earth, yet our
o,,yropoy bod baan laua 1.aluad than p0ld by On
per cent. He argued that it was impossible to
make paper currency equal to gold. 1t was
idle and criminal for Congress to undertake to
bring greenbacks up to the standard OF gold.
We must put ourselves OH level with the com.
mercial nations of the earth, and to do this we
must have a gold and silver currency. Until
we establish medium Of exchange based upon
gold and silver we can never have the advan.
tage of commerce. He advocated an immediate
resumption Of specie payment.
The Senate unanimously confirmed the
nomination Of Mr.. Waite to be Chief-Justice.
A substitute was reported by the Finance
Committee for Mr.. Howes Liquor Traffic bill.
Mr. Sargent Of California, presented long
petition of Susan B. Athony, relating the cir
cumstances of her registering and voting in
Rochester, n. Y. and subsequent indictment
and trial for illegal voting before Judge Hunt
Of the United States Supreme Court, stating
tDat her tTldl WIS uOt u ldiT Oue, dlu COu-
viction in violation Of the statute, and asking
that the fine imposed upon her be remitted.
Mr.. Morton, Of Ind, submitted the following
resolution, which was laid on the table and
ordered to be printed:
Re,olved, That the Committee on Transpor-
tation Routes to the Seaboard be instructed to
consider and report bill creating commission
Of five eminent and skilled persons to be
appointed by the President, by and with the
&c tl,aG hall
examine and report to Congress what legisla-
ton is necessary and practicable in regard to
Interstate railroads to promote the following
objects, viz: The speedy transportation at
reasonable rates of freight and passengers
the safety and comfort OF passengers by pro-
yiding for the inspection Of bridges, tracks.
locomotives, and cars and the reform of any
abuses that may exist in consequence of ex-
tortion, or unjust determinations in the trans
portation of freight and passengers, and. in
general, what regulations are necessary to
promote the efficiency Of railroads, the interests
of commerce, and the convenience and safety
of the travelling public.
HOUSE.
Mr. Small. Of n. H., asked leave to offer q
resolution. instructing the Committee on
Appropriations to inquire and report how many
horses are owned and maintained by tho Gov
ernment Of tho District Of Columbia, the
expense and uses Of the same, and who use
them and whether they are required for the
public service; and also, as to carriages and
other vehicles owned by the Government and
used with such horses.
Mr.. Dawes, Of Mass, from the Committee
on Ways and Means, reported q bill to reim-
burse distillers for amounts paid 10y them IN
procuring Tice meters, by order Of the Internal
Revenue Bureau, but which meters were subse-
nueutlv abolished by law.
Bills introduced: To provide currency in
coin and paper of equal and uniform value
throughout the United States; to abolish the
system Of mileage; to establish department
Of manufactures. Also, to allow national
banks circulation equal to the face of their
deposited bonds; for the purchase OF Mon
ticello. Va. formerly the homestead OF Thomas
Jefferson. and containing his grave; to amend
the national banking law 10 as to provide for
free banking give better security to depositors.
prevent usury, give elasticity to the currency.
and place the finances OIL more secure and
substantial basis.
Mr.. Ward. of n. j.. introduced bill pro-
viding that the heirs Of any soldier who was
killed or died while in military service during
the late war. whose period OF enlistment was
for less than one year, or who shall have died
by reason of wounds received or disease con-
tracted shall be entitled to receive the same
bounties as if said soldier had enlisted for
three years This bill includes all who enlisted
for three or more months at the commence
ment of the war, and who have never received
bounty Referred to Committee OIL Military
Affairs.
The House refused to suspend the rules to
admit resolution by Wilson. of Ind, to III
crease the circulating medium, the vote being
1874 to %.
Mr.. Young. Of Ga. moved to suspend the
rules and pass the bill providing that all
printed matter printed by order Of the Govern
ment and bearing the official signature of a
member of either House of Congress. shall
pass through the mails free Of charge until the