The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-02-26
F0BTY-THIRD CONGRE9s
First Session.

|
| First Session.
SENATE
WASHINGTON, Feb %, 1874.
| The Senate discussed the bill relating TO the
liquor traf1ic In the morning, which was post
pOned to allow two members, who so desired. 10
express their views before the vote upon 1t should
be taken. The Centennial Appropriation bill was
also laid aside ut the suggestion OF Mr.. Sumner
until the financial question should be definitely
settled.
Mr.. FERRY, rep.) of Mich, presented petition
! Of the workingmen Of Michigan, asking the sub
stItution of national bank currency for legal ten
ders, and that such currency be made legal tender
for all debts, pubic and private. Referred to the
Committee on Finance.
FINANCE.
The Senate then resumed consideration Of the
bill to eQualize the distribution Of currency the
pending motion being that Of Mr.. BuCklpgham.
OF Connecticut, TO recommit the bill to the Finance
| Committee with Instructions agreed upon, direct.
ing the committee to report In favor of in
creasing the volume Of national bank currency to
| $500, 900, 200,
Mr.. MERRIMoN, (dem.) Of N. c., argued that
the country to meet the wants OF the community.
| Ii more banks could be established in the West
and south the tendency would be to lOcalize capt.
tai and tue eject to stimulate enterprise and IN
Mr.. SHERMAN, (rep.l of Ohio, said he was weary
! OF this discussion and hoped 1t would soon be
ended. This measure proposed to increase the
currency, but no provision was made for It's dis
tributlon in the lace Of all the promises made by
Congress and the President. Here was deliber-
country. He would ask his friends from the South
how they were going to get this increased Circua-
ton. They must buy II, and what had they to buy
Mr.. MERR1xoN satd that they had cotton crop
worth $27S,ooo, 600 and other productions which
Mr.. sHERMAN-Yes, but your cotton crop has
Mr.. MERRIxoN-I beg the geutleman's pardon.
In my State not One-haf OF the crop has been
NOPE PAPER IN THE SOUTH THAN EVER
| Mr.. SHERMAN said-For every pound OF cotton the
South had 1t could get either paper money or'god.
ever before. Both political parties are pledged to
90 no act to carry the country away from specie
and ana mot man see thai the
from specie resumption. 1t had been held out
that to innate the currency would help the poor,
plenty d work Tnere was never greater decep
ton. More money would be gwen the laboring
would be diminished. Why was it that petitions n
were received here every day from Chambers Of
IN az sSsn sse
sss Ky ~ vS ssS E: s: ss:ss
the S0r na,0 Sa1 Ssnf Z nSg Is
bad as some Of the Others but it's tendency was to
turn back on the promises Of the past There
paymenss ana " he believed eli he senate
accomplish great result II It should only resist
BY the panic which existed When Congress I met
have passed away money Is abundant now, and
aa three months whc eaye have %
| INITIATION WOULD BE CRIMINAL.
TO embark the country on sea OF more paper
with the Senator from Massachusetts tMr. Bout
welll, "Stand still il we can do nothing more. -
portion of the 900 reserve Issued should be
retired and not be issued again, except in some
a to the disereon 'n Of the Secretary Of the
| Treasury alone. He would go further still and
Ak s next IN the When Gtr the say hS
would redeem its broken promises either with in
terest-bearlng bonds or gold; The people would
would care whether he received gold or bonds for
his greenbacks, knowing that such greenbacks
me redemption in bonds because that would do
away with maintaining In the Treasury great
be- ased IN liquidating the public debt and
still kept in circulation. He was not welded to
right direction. only stand still ana prevent any
imitation and one step. would be gained. He be-
issued without the authority OF law, bnt knew
there was an honest difference OF opinion on the
proposion and Vote foF the bin as il came from
the cOmmittee, ana thus give the sections now in
want authority to organize k local banks. The
sCHURz SLABS NORTON WITH SARCASM.
Mr.. scHuRz Qb.) said the Senator from Indiana
to him as being foreigner. he (Mr. Schurz) remem-
iitcal interests Of the senator nom Indiana. with
some others, ana then the Senator agreed with him
'h0Hhs xoS ne We o se
born constituents OF the Senator from Indiana to
understand that they were all right and under
stood the country so long as they agreed with him
but II they offered from him, they dtd not under
stand the country, aud must keep quiet. 1t was a
the Senator rom Indiana in his opinions, for pub
lic man was found on both sides OF a question as
often rs that Senator. he (Mr. schurz) felt that
! he was an American citizen, and understood our
country. but could not keep UP watn the Senator
Mr. ALLISON, (rep1 Of Iowa, said ne would not
give his vote for any measure which ne believed
would deprsciats values or cause distress: He
contrary, would be beneficial.
! MR. NORTON Is RpALLY TIRED.
BEEN tired Of sns dscasson and Would S not IT have
sa'a ans ma ssn ''s
him into it. He tAs. Morton, had not
had n sanssd e to ss ~
the Feasibility or return to specie payment and
the tine q which y shoola DC stss%pted Fur
to meet the business interests Of the country; but
! he did not think that inconsistent with hls past
record. He had changed his views several I'M
| portant questions during has life, but had always
tried to do right. His friend from Ohio tAr Sher
many Il seemed had changed his views also on sew
eral questions He tMr. A0rtOn) In 1885, being
then young and inexperienced senator,
introduced plan In the Senate ~
return to specie payment, by which he proposed
to dix time when such resumption should be COM
menced. The senator from Ohio mr. Sherman)
opposed 1t, and SAID such measure would head
| to disaster and destruction. Nov the gentleman
came forward with similar plan himself. As to
| his tread from Missouri (Mr. Schurz) that gen
tleman directed o considerable part OF his argu-
ment to hun (Mr. Mort0n) yesterday, and made it
as offensive 10 manner ana expression as he could
[ and still De parliamentary. When he Mr.. MOrtOn)
said the Senator did not understand the country
In which he liyed he did not mean te say that all
| our foreign born citizens did understand
| country, and the Senator mr. SchurZ) should not
| array himself at the head OF such citizens. He
| ONT Mortonl remembered some two or three years
! ago when his friend MIR. SchurZ tried to put him
! self at the head OF our foreign born citt-
! zeps, ana eudeavored to lead them out OF