The Portland daily press., 1874-03-18

SENATE.

aark shadow of heavy grief. A vacant chair
IS before us, a noble presence has been borne
nence to be committed "earth to EARTH dust to
dust, ashes to ashes" He shall not come to
us again, hut we shall go to him.
MT Ferry of Michigan said that a great eft
Iort mad been made recently to show that mon
ey is abundant in the city of New York. sub
was perverson of the true state of affairs as
Wouiu De seen by petition which he present
ca from about 400 leading business men of that
Guy, some OF them using millions of money in
their business, in which they protest against
the enorts now being made to reduce the vol
uIne OF currency and pray that the same may
try may be safely carried on. Referred to the
Finance Committee.
MI Logan presented petitions of citizens of
Illinois and New York City in favor of an in
crease of currency
Other petitions in favor of specie payments
and for an increase of currency were present.
ed.
Mr. Frelinghuysen said that some weeks ago
when the Civil Rights bill was under discus
SION, upon the statement that if the bill should
De referred to the JudiciaryCommittee it would
De reported back soon, the late Senator from
massachusetts, (Sumner) agreed to the refer
ence and he (Frelinghuysen) now desired to
state that the committee had spent two days in
perfecting the bill. 1t was now ready to lie re-
ported to the Senate, having received the ap-
proyal OF the majority of the committee, but
ne lfrelinghuysen) would not report or call it
up until the chairman of the committee ed
mundsl who favOrs it, should be present, that
ne might take part in the debate.
AFTER some explanation by Mr.. Stewart and
some debate the record was corrected so that
MI. Stewart should be a member of the Joint
D!Scrlct committee and not as chairman.
:. Inc bill to equalize the distribution of Ma
tlonai bank currency was taken up.
MI. Logan spoke in favor of increased circu
lation.
In the course of his remarks, Senator Logan
SAID the arguments and sophisms of the Sc: "a
tor from Missouri (Schurz) might be consider
ed simply as attempts to amuse, if it were not
for the grand scheme which appears to be at
the bottom of this onslaught upon greenbacks
and cutlery for specie payments. Every plan
they offer embraces the plan of retiring green
backs which do not bear interest and substi-
tuting in their places interest bearing bonds
payable in gold, without power of reconversion
into greenbacks so to keep them in circulation,
thereby imposing upon the backs of the people
an additional burden of $20000,000 per annum
for what purpose and for whose benefit? To
enable eastern money holders to have a secure
place to loan their surplus funds and at the
same time to get additional interest upon these
bonds they seem to want some way to drain
the treasury of its gold and thus leave the
whole monetary power of the government in
their hands and at the mercy of eastern mon
ey holders. Is it any wonder then that the
West and South who understand this thing
should look upon it as movement to strength
Ell and perpetuate money monopoly, which
present legal restriction gives to the East 1t
may not surprise us that an Eastern Senator
should advocate this policy, but what are we to
think when We see Western Senators in the
very front of this movement? Is the present
movement among farmers, mechanics and
workngmen without significance? Are we SO
silly as to suppose they will see their wages re-
duced to mere pittance without a severe
struggle? If there are labor strikes and stop
page OF business now, what may we expect if
wages will not purchase bread? We had more
money during the time when the whole
South was shut ont from its use than we have
now and yet less amount must supply the
wants of the whole country with sill, O0O, 900
more of people to be furnished with a circulat-
ing medium, to say nothing of the fact that
100000 of the people formerly slaves are
now free and must be supplied with medium
of exchange. 1t is said speculation in rail-
roads was the cause of the panic and that this
speculation was induced by an abundance of
money. Where did these railroads sell their
bonds to raise the $34O,OOO,O 900 annually used
by them? Were these all taken here? No
sir, they were based on gold and sold in Eu-
rope.
Therefore this mania for speculation spoken
of has nothing more to do with the amount and
character OF our currency than did the tulip
mania with the money of Holland or the Da-
rien scheme the money of Scotland. WHY do
we go to Europe to sell railroad bonds and paw
interest to foreigners? Simply because we had
not the money here and if Senator Schurz is
allowed to lead the Senate in this matter we
will still continue to pay tribute TO Europe
He presented table giving the conditions of
the New York banks for five years past show
ing that these bear no evidence of unusual
loans Immediately preceding the panic. The
Senator from Missouri had said that the moor
m Oft nof
on deposit in savings banks. A larger amount
than there is now in the United States suffi-
cient, if run should be made to drain every
bank and the United States Treasury of every
dollar. This will certainly be good news to
those who are starving in New York and other
cities, and while this scheme of contraction is
before the country these poor people would do
well to look after their money a little.
In conclusion I! he called upon the Senate to
properly guarded, will not only do justice to all
but will develope latent resources Of the South
which lay dormant under a former mistaken
policy, and which will utilize till the water
power of Virginia and the power locked up in
the vast coal fields of Indiana and Illinois, the
iron mountains of Missouri AID the agricultu-
raj resources of the whole country-a policy
that will put our manufactures again in oper-
alton and iron boundaries in blast and give en-
ployment to idle hands, prosperity to producers
and happiness to the whole country. He warn
ed the moned power of this country that if
they attempt to impose further burdens upon
the masses of the people, they will finally lose
their power altogether. He would stand by
the rights of the people no matter how the
monied monopolies might attack him or
the metropolitan newspapers abuse and crit
icise him.-Adjourred.
HOUSE.
WASHINGTON, March, II.
Mr.. Cox of N, Y, presented resolutions recit-
ing the allegations that bills for advertising
have been presented to the Treasury Depart
ment, which advertising has been done in def
aEce of the law of the 18th of July, 1870, re-
quiring written orders for all advertising, and
directing the Secretary of the Treasury to fur
nish copies of all such bills and of the cores
pondence thereto. Adopted.
Mr.. Cook of Ga, Offered resolution instruct
ing the committee on expenditures in the de-
partment of Justice, to inquire into the Judi
cial expenditures in the southern district Of Or
egon. Adopted
A bill was reported favorably, providing that
public mineral lands, unless shown to contain
bona fide mining claims, shall not be excluded
from presumption of homestead laws.
Mr.. Lowe, of Kansas, advocated it, and Mr..
Ward of ILL.,, opposed it, as surrendering all
government control over them and practically
opening all mineral lands of California at 81. %
per acre.
Mr.. Kelley, of Pa, thought if this law pass
ed, the rich mineral lands would shortly fall in
to the hands of a few people.
Mr.. Randall, of, New, favored the bill, say
ing it was needed to secure progress and proper
ty in the old mining belt of California
Mr. Kasson, of Iowa, approved of the bill.
After further debate the bill was referred to
the Committee on the whole.
After conflict for precedence between the
cheap transportation bill, legislative appropria-
ton bill, and contested election case, the
House went into Committee of the Whole on
oric Eycn on6 Ind nj al
ton bill.
Mr.. Willard of VT, called attention to the
inequality of compensation provided for the Of
ficials of Congress, and those of various other
departments Of the government, and offered va
rious amendmentsifor the reduction or the pay
of door KEEPERS and messengers in the capitol,
all of which were reje ,ted.
The Committee rose after having got through
only two and half pages of the bill.
Mr. McCrary of Iowa, proposed that to- NOR
row be set apart for discussion on transporta-
tlon bill, giving as a reason, that members will
be absent to witness launch of the Pacific Mail
Steamship, City of Peking, at Chester, Pa.
Mr. e. H. Roberts of New York, objected
MI Marshall, from the Appropriation Com
mlttee, reported the Military Academy Appro-
priation bill Referred to Committee of the
whole.
Mr.. Coburn of Ind, Chairman of the Militia
ry Committee, reported bill to provide for the
gradual reduction of the army, which was made
special order for first Tuesday in April.
Mr.. Todd of Pa, moved to adjourn over till
Thursday. Negatived.
Mr. Conger, member of the Committee on