, 1874-02-20
YEAS.

Mr. COOPER moved to inBort tho following
~. as 4 snbsLitnto ID for kr Morrmons amonauons:
Tint tho Committee on Finance bo instructed
to report bill providing for the convortiIility
Of United States Treasury notes into gold coil
or por cent bonds of tho United Statos, and
also for FREQ banking undor tho provisions Of tho
National Bank aot. Adopted without roll.cail.
Tho question then recurring on tho motion of
Dir. buckingham to recom,nit the bill viii, tho
resolutions above provided. by Coopcr's amend
mont, several Senators inquired II tho substitute
Of Cooper had been adopted.
Tho CHAIR announced TINT Il Ind, 10 ono
having called for tile ycas and naya.
Ar. MORTON demanded tho yeas and nays.
Tho CHAIR (Carpentor) decided it WAS too
late, tho vote having beou announced.
nlr: NlERRlMON moved to reconsider tho
, yo.o ny Which tho substitute Of Mr. Cooper Lad
1ir. coNKL1NG said ii tho Senators wanted
illustration OF tho nflrmity of thjB whole pro-
ooedlng. he submitted that thoy had 1t now.
tho appropriate Conmittoo Of Tho scllato having
givon 70 tho Senate anything which might bo
termed q financial sclomo. There Ind boon
several bills from tho Finance Committee touch
ing tho skirts Of tho gcnornl question; but as
the Senate Ind beon proceeding, it Ind been de-
nying itsolf nliy scheme vol considered by tho
Committee. Tho proposition Of tho gentleman
from Ienneesoo, just adopted, need no ox-Sccre-
tary Of tho Treasury, no export in finances. to
explain 1t to the most ignorant mombor Of the
SENATE. It meant both expansion and coutrac-
ton. Tho pronosition looked upward aud looked
downward. What had tho Hennto been dong
excepting spending tlmo in making what ho Ind
heard politicians call record, and ono whicl,
would not be usoful hereafter All tho Senate
had been doing was dealing in nebulous gonor-
nlltcs:. Ho thonght the bill Light DO allowed to
90 back to tho Finance Committee without in
atructons. and lot that Committee worm out
aud ropoJ aono Plan which would command tho
approval Of 9 majority Of tho Senate. Flo ap-
pealed to eonatosa to put on end to Tho
discussion by recommitting tho bill With
out Instructions. Ho must SOY tLnt
b, no. & felt he e;, would fall short Of
new issue Of irredeemablo paper money. There
wore many thingsl ho lid NOT know,
hut ono thing ho did know, and TINT waB.
1t would lanncl1 this nation On sea without
shore, without harbor, to doolarc in favor Of au
volvcd falsoliood, q lie, and lilo in tho ond
would upset everything from m applicant to nm
Empire. It was falso That tho stamp upon tho
paper transformedit it to q dollar. Tile coin dolur
ror'resonts Tho cost of production. and paper
am''nGy in9noy We. vas merely ,y symbol'cal of that
behind it. # was 81 morely ~ a made nndo
promise to pay. Ho would aay nothing about
tho Legal-Tendor ACT but he would Bay, when
no war engaged the country and no oyoIaHtor
mad indeed, in his belief, would bo that actiou
by which the two Houses of Cougress would ut-
dortako to solve tho financial problo,n Of tho
day by tho unlimited issue Of irrclecmable
promises to pay. Ho again appealed to tho
sonate to stop this splitting Of hairs,
and let tho Committoo OIL Fiuauce resume
possession OF this question, and bring in so1no
measure upon which tho eminent gontlemen
around hiul, 80 long in finance, should agree
Mr. OGLESBY said he thought tlore was in
tho scnato to-day body in intelligence aud OK
porionco to compare with tho most favorable era
Of the American Republic. Ho had been beno-
fitted by tho discussion on this subject. IIo
commended the wisdom of the Republican Con-
greBs which Eayo the country tue groou-
backs and tho National Bank system, and Ind
no doubt echoed tho feoling OF the whole couu-
try whom llo made tho assertion TINT tho green
buck currency was n uoblo ono, mud sealed with
the best blood of to nation. 1t would be ro-
deemed in gold, overy dollar of it.
Air. MOllBlLL Baid it was evident that tho do
bato could not bo closed today. IIo proposed
that tho gentleman give way to d motion to ad-
journ.
AIr. oGLEsDY snid he did not want tho
Senate to adjourn in the middle Of his speech,
aB it would leave it with no moro Intelligence
than tho resolution which Ao held in lis hand
holding up Coopor's substitute. [Laughtor.1 Ro-
sumilE, ho said ho thought tint resolution
would become very important pnpnr in Alstory
of American financial literature, and le would
take it with him to tho people Of hs State.
Pending discussion on tho motion to recon-
slider tile Senate adjourned.