Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1874-01-16

hOlic liquols. Referred.
Senators ingalls,, Logan, Sargent and
| FentOn presented petition asking for
the right of suffrage for women.
YELLOW FEVER.
Senator FentOn offered a resolution,
which was agreed to, reciting the pre-
valence of yellOw-fever in portions of
the United States last year, and the
belief that the disease is usually intro
duced into this country by sea, and
therefore directing the supervising
geon of the marine hospital service to
\ prepare a brief history of the yellow
fever epedemie of 1873, as it appeared
at various ports of the United States,
with special reference to the details Of
prevention, hygiene and treatment of
the same to the senate.
POsT-RoUTEs.
! The consideration of the bill to estab-
lish post-routes through the country was
resumed.
Senator Merrill Me. again urged that
the service be divested of all express
and freight system.
| Senator Ramsey said there were but
six or seven States in the Union which
paid expenditures for Transporting the
mails, and he desired 10 say to the gen.
1 tlemen from Maine and Vermont that
their States were not Of the number; yet
the department had not been in the
habit Of curtailing the service in those
States.
Senator Hamlin thought the pest
route bill should be carefully guarded.
He would offer an amendment, in the
proper time, to provide that the service
! should not be established on new routes
until examination showed such service
was necessary.
Pending the discussion the morning
hour expired, and the senate resumed
the consideration of the resolution re-
ported by the finance committee.
! THE CURRENCY QUESTION RESUMED.
Senator Morton reviewed the speech
OF Senator SchurZ, made yesterday,
and said he could not agree with that
gentleman. He (MOrtOD) believed that
/ in order to bring our currency to par we
must resort to some other means than
contraction. He was opposed to reduc-
/ tiOns in the price Of labor OF cOmmodi-
/ ties. If it be done it should be done
very gradually. Senator Schurz would
do it all at once. He would descend
| from lake Erie TO lake Ontario, over Nj
agara falls.
Senator Schurz said that the senator
was mistaken; that he did not desire it
all to be done at once.
Senator Morton replied that he accept
ed the correction Of the gentleman. A
thoughtful sailor, in going from Lake
Erie to Lake Ontario, will 60 by way OF
the Welland canal, but an impulsive one
would go over the Niagara; and it was
the same way in regard to the resump-
fion of specie payment.
Senator FentOn said that while he
concurTed in the views OF the gentleman
from Missouri, he did not desire to he
understood as advocating a rapid with
drawal Of currency. 1t should be done
gradually, and the time fixed to COM
mence the resumption of specie pay
ment.
Senator Morton said that the remedy
presented by the gentleman from New
York [FentOnl was like that offered by
the gentleman from Missouri [SehuIzl
contraction OF currency. 1t would
understand that we return to
specie payment by the contraction
Of currency. the great body Of the peo-
! pie of the northwest and, be believed, of
the south, now thought the currency
too small. He argued that the United
States could not be guided by the expe-
rience of England in the matter of con-
traction. There was hardly a man in
England living five miles from bank,
and most of them living in towns aud
cities in sight of banks Facilities for
banks there were much greater than
in this country and there was no neees-
sity for so great a volume of currency.
England with her thirty-one millions of
people had six bundled millions of cur
rency, and the United States with her
forty millions of people had only eight
hundred millions of currency. He did
not think our currency redundant. It
had been argued that we had built rail |
roads too fast; he did not believe any
senator on this floor would say that
his State had one railroad too !
mary. Probably sometimes they
mad been built in advance of set |
uement, but they were always pioneers
Of civilization. he inquired of the gen.
tleman from Missouri Schurzl what |
four countries had made the greatest |
progress in the last ten years?
Senator SchuTz replied that ne could |
not answer, not having the statistics be-
fore him.
Senator Morton said he had been in |
and Italy had made such progress. |
Austria the greatest comparatively !
speaking to the United States; Russia |
next. Germany next, and then Italy. Dur
ing this period the currency of Austria
had been at discount of from one to
twenty per cent; that of Russia from
ten to twenty-five per cent, aud that of
Italy somewhere from five to twenty
per cent. He desired to again state that
the recent panic in our country did not
spring out of any defect in our curren-
cy. The currency did not run down du-
ring that panic, but, on the contrary, it
increased in value. He saw be-
hind all this contraction argument
the only State banking system looming
Ut. He hoped the country would never
return to that system nor anything like
il. He said he had understood that his
friends on the other side of the house,
Democrats with but two exceptions, Op-
posed the present national banking sys-
tenn. One Of the senators from Mis-
souri, Mr.. BOgy] few days ago said his
State wanted more currency, while the
other Mr.. Schurz yesterday said that
it had too much. Which Of these gen. |
tlemen represented the people? He ven
tured to say that the former Mr.. Bogy1 |
represented lue maJOIltN. III CODtlu-
sion, he argued that the scheme
Of contracting was disastrous and
ruinous. He would rather see the cur
rency increased a small amount. There
was smaller volume OF currency to-day
as compared with the wealth and busi-
ness of the country than there was five
years ago as compared with the wealth
and business Of the country at that time.
These things were not to lie whistied
down, and settled by visions of John
Stuart Mill. The system of wages and
prices in England would no more answer
In this country than the map of Europe
would answer for the map of North
America.
ANOTHER REMEDY.
Senator Howe said that, as 81 many
plans had been devised, he began to
think il would be unpatriOtic in him not
To say something, aud he had, there
fore given notice few days ago that he
would introduce a bill. In accordance
with such notice he sent to the clerks
desk. and had read bill. the title Of
which is ga bill to provide for the gradu-
al withdrawal from circulation ire
deemable national hank notes, and sub
stitutes therefor redeemable national
bank notes, and 20 remove un-
Just res rictions on the banks Of