New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-04-02

Mr. MORRILL, rep. Vt) offered an amendment pro-
issued for shall be fixed a. SlO0O000O and that
the excess outstanding be Withdrawn as carry as prac-
Mr.. JONES rep, Ncv) said it appeared to him II
- Middle and Southern States which lacked
prosperity In STATE they produced nothing but gold
md silver and that gold silver gwen TO those
who brought goods there for it, IL good all over
the world and would remain in this country had IL not
been driven OUT bv vicious legislatlon..
Mr. MORTON C}ep., Ind) said that the people Of
Nevada had refused 10 take the greeIbacks which Con
grcss had made legal-tonder and he would like 10
know what would have become OF the country If the
other States lad followed ihe example Of Nevada
Mr.. JONES said the rebellion would have been nut
down Tor s5O0OOo,OOO less than 1t dd cost The first
move IN putting down the Rebellion was the mannfac-
turo of IRE 1cemabIe paper money, Which demOraized
the entire country and allowed debtors to nay their
cfcdiOrs from 30 TO % per cent less IMAM they
owed. AS q last resort, however, he would have
Issued this reCecmable paper money, and not at the
almost afraid TO investigate into the manner in when
tue Rebellion suppressed lie believed IL 10 he the
duty OF TINS senate tue highest bo'{ IN The land 10 N
Vestigate this matter. because another rebellion might
be raised ana little Investigation would show that 1t
which cost double the amount 1t should have The SEN
ate mad voted nothing pay TINS rredeemable pa
per money lie quOted IRON the census 10 snow mat
farmers received less than any other class Tor their
would aggrayate speculation, and the farmer,
each year, would got less for his products
The last things wanted this country are banks, as
they 90 but little toward the production OF wealth
The result OF this irrcde mabe paper currency was TO
have the haUHs ana streets Of the Spectators covered
all over with pslailal residences, while farms Were
covered all with bl!sters in the shape Of mort
paper money measured nothing but the hopes and the
confidence OF the people.
The amendment OF lir Morrill,, fixing the volume OF
fractional currency at Si00000OO rejected-Yeas 10
Nays. 20.
MI. SHERMAN moved amendment repeating pOr
81 and 50 OF the National Currency act
10 "a TO require that National Danks shall keep their
awtu money within their own vaults, forbid
ding them 10 keep their reserves elsewhere and pro
vGing National bank shall redeem It's notes at
any other place than over its counter. Mr. Sher
gave notice that ne would offer other amendments
OF which would be to rentae the second section OF
the bill modified FORM 10 provide for return
specie payment in 1877, even 1873 Again he would
Ike the fourth section renStated. noGlhed by
striking out seventy the ratio OF legal tenders "
De retired, and inserting in lieu thereof hfJY."
Mr.. LOGAN offered as an amendment the bill intro
duced in the House OF Representatives few days
by Mr. Merriam. requiring National banks " keep five
per cent OF their circulation in the Treasury Of The
United States, 10 be used in redemption thereof: but
subsequently, withdrew 10.
Mir. CHANDLER rep, Mich) moved that the Senate
adjourn
Upon this motion the Yeas and Nays were called and
the motion was adopte0-Yeas. 70; Nays, 70; and the
seuate al o'clock adjourned.