New-York tribune., 1874-03-11

during the time OF debate on tbe g, Tpesaatio
Commee but had understood that some aas ,Scro
fore ask to take up the bill again tomorrow aiter the
reading Of the Journal ,.-,o,on with tho con
sent the Chairman of the Committee on T. % tha
and Labor that an additional memDer %G Mr. Pease
Rep., Miss.) as such member. -. ,,.,.o rim 20
MI. RAMSEY ep., Mimi called up inc niouse q, e, t -
The CHAIR laid before the Senate w
the Of New regard TO certain
private land claims in that Territory
TUE CURRENCY EQUALIZATION BILL
The bin to equalize the distribution OF the Natiohai
bank currency was then taken up, ana MI. Loon'
Nep M who WAS entitled tho floor, yielded 10 mf'
FERRY Gep Mich.), who delivered long argument ia
favor of free banking ON the National banking sys'e"'
He reiterated his preference for the whole ina
the agent OF the people, and charged to do Their viii VIII
The people had perfect iinth IN the Wv, nov lis
would be perfectly satisfied with such currency hs
aoundness mad been thoroughly illustrated III tne
recent panic. He had no doubt tnst s1ch to cold
and would be as stable as the Republic He % tns
this plan would sooner OF iateI ne M anv narSusr
theory stand in the way OF any plan 10
the sea, % sos epsh g, s the history Of European
tries as population. area railroad and telegraPn @
TENS of those countries with the welpaid labor OF inns
country deprecated any attempt 70 ioiee .nao
iaEnr as was the case in Europe, he advocated the
American system of labor honorng capital In Europe
they INDUCED IN titles salaries ana row Tasv, % tn
waiter, except that of an American genteh.n' mivn
cannot be dispensed with except by conduct no h. AN
swered seriatm the arguments OF BIZ Scnurz, MI MI
sherman, and Others ana sau @ 'noSo hooIS we're
upon theories aid down In oVoAs snec"Ia %
ton Instead of the American system me an OF sss
sun ght experience. He argued that tne act o 80
nIedng the national faith that the currency should no'
exceed s400o0o0O0 was vOlated Dy M ISSo GU dc m
therein provided for the issue or s2OVvVVV IL
notes and made them legal tenders on their face; 80
that Instead s4OOooOoo rs contemplated by tnat ac.
there were s6OOoOO,coO and tnat the pedge was hos
lie 1noted from tho speech of Mr.. sherman, made IN
industrial slavery bequeathed US by Great Brie.n
had bloted ont by the war ana II IL was no" W
he financial bondage with New-England against the
South and West he ready to meet It, benevug tg4t
IL would as emphatcaly aud eheetuay setIIeu. uo
referred to the proposed plans ISr spGee on t nine
prostrate ali kinds Of industry: on the other
hand, with u plentiful supply OF currency enter
nrlses would quicken and industries thrive. The per
capita circulation OF New-Engiand, including the Ma,
tiOnal bank currency and legal tenders, wac 6pont
S62 in the Middle States $6 in the south So and IN
West, s4 The per capita oircuiatloh on Lno Wmoi
country on the basis OF New-hngand would require
yolume OF S24SOOOOOO. The question here OF more
money even # IL should be decided adversely hah YET
70 pass the tribunal OF public opinion ana the people
wonld saw that the volume must be increased.
MIR. BBoWNLOW (Iaep., Tenn) introduced bill TO ad
mt certain pieces OF sculpture into The country free Oh
duty ReierIed 20 the conmtteo on Finance ,,o u,
Mr.. CONKLING rep, N " presented petton OF
Morton GnswOld and other prominent cltizehs OF New
York, holders Of bonded Indebtedness OF the sae Oh
Louisiana, stating that the Legislature OF that oGte 10
engaged m process OF reputation, and praying Con
gres tnat the bill introduced by Senator carpenter DC
passed OF some tautamOunt legislation be had To pro
tect their rights. Referred 10 the Committee Oh PrY
| ileges and Elections. . . ,o,-r1>, M.
| GAL went into Executive session hHl alver "a lew
| minutes the doors were Toopened and the Senate al
| journed