The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1874-02-05
Editorial Correspondence.
WASHINGTON. y. G., |
February 2, 1874.

Editorial Correspondence.
WASHINGTON. y. c.
February 2, 1874.
The legislation in Congress is COMPARE.
lively docile There has been nothing Of
an extraordinary character to excite the pop
ular mind here, 10 an undue degree, since the
disposal oGahe Chief Justiceship, and the
salary bill. The repeal of the law increas-
ing the psysof Cengresssicn. &C., was voted
for with great reluctance, but was forced
out OK members in Difference to their ccnstit-
uents. There was very little Of conscience
in the matter. | met with two members
from Texas, who had voted for the repeating
bill much against their wishes, as it drew
Hdt Of each Of their pockets about $1,000.
but who are published throughout their State
10 the provincial press as having supported
the increased salary. They were in guam
dairy, and felt greatly asgrieved. The idea
of having been depleted of the 81 800 and
then to have the credit of not voting for the
bill that,d the work. seemed too monstrous.
They sought the telegraph wires to commu-
hicate with the. leading New York papers,
and those of their own State, to correct the
misstatement.
The Bankruptbill will soon engage the at
tcntion Of Congress. There are two bills up
one from the judiciary Committee of the
Senate, ind the other introduced few days
ago by Hon. j. Amber Smith, of Va
This latter bill makes some material amend
ments to the old law While it retains the
homestead, exemption, it provides for bank
rupt exemption Of $1,000 including the
necessary household and kitchen furniture
and such other property, either real or per.
sonal, as shall ana cunt to that sum. Also
wearing apparel of the bankrupt, lis wife
and children. basi des the State exemptions
1t also strikes out the clause providing that
s'no discharge shall be granted to debtor
whose assets shall not be equal to fifty per
cent of the claims proved against his estate
and that which requires application for faal
discharge to be ma de within one yeaf fem
The filing of the debtor. -
N is believed that some such law will 10
passed, 1t is possible that some Of the p'o-
visions of Mr. Smiths bill will be modii ed,
but the general purpose will be retained
1t is becoming more apparent every Cay to
members that judlcious bankrupt law is
public necessity, both for the psotectioa Of
creditors and debtors, and am satisfied
bill will soon be perfected and passed.
To-day, Mr.. Young, Of Georgia, ;utroduc-
ed a resolution providing for the payment OF
the amounts due to mail contractors prior to
the war, without reference to tie question OF
loyalty. 1t involved the repeal of past leg
isation, and was not such as suited the
views Of the majority of the House, and was
defeated.
Immediately. after this adverse action,
Mr.. Ssner, Of Va, very useful and practi-
cal member, offered resolution instruc,iug
the Cohmittee os. appropriations to inquire
into the expediency of estimating the an cunt
due mail contractors for services 1cneered
previous to the l4th of April, 1861, and re-
port the same. This was passed, and places
GAe matter ina much more favorable relation
T ian if MIR. Young's reso' u ion had passed.
1t will bring tile estimates into the general
hill, and will doubtless pass. Mr.. Seaers
bill had the approval of such Republicans as
Butler, Maynard, aud Garfield, and with
their favor it i. aot probable that it will en-.
counter any serious opposition. Mr.. 'Scner
is Republican, .ad is .keenly alive to the
interest OF oil the people irrespective of par
ty. ss So ssa s4s
The fact is, were it not for the contracted,
sectional and selfish policy of some 81 the
Democrats and Conservatives, TIE Republi
cans would be governed by more generous
and liberal policy towards the people of the
South than heretofore. Practically, Repub
licans are the frietds Of Democratic and
Conservative constituencies, while the Demo-
Gratis are practically their enemies, for they
pursue policy that excites feeling and ex-
resentments.
Tho financial question is still at sea, but
the manifestations indicate that there will
be an increase Of the currency. Members
begin to see that contraction means starva-
ton tosthe labesing classes, and the stimula-
ton of an encounter between labor and cap
ital, which must necessarily be followed by
aisasterous results.
I have heard number of intelligent gen.
amen give it as their opinion that the a.
oasl bank system is really I'll the bottom f
the distresses Of the country, and that there
never can be g. healthy condition of the f.
nances, until they are abolished. Through
their operation the people are made TO pay
at least Is per cent. for money, and they
argue that no country can stand 1T. The
greater the distress of the people, the larger i
are the profits Of the banks, and when it1
hannens that n bank srtsuepds there is DO