, 1874-03-25

rom an expression Of Lila opinion, md read
from llcw'parcrs to support his argument. Do-
foro scuator 1nade charges against anothor
.'hefcot ho spoke. 11o trlurman) denied that
le lad ovor said tia panic was tho result OF On
attempt Of tho creditors Of tlo East to force the
DEBTORS OF tile South a,,d Woat Into specie, re-
lous a4aeItion In hs fc. On tho contrary. hc ha!
always said that lilo panio was the result u
ovor.tratlng mud Congressional legislation. en- @
barking IN now enterprises, and especially ID .ne
Nolthcrn Pacific Railroad eol'on,o. Lie neyef
uttered word in favor Of Initiation. but had or
presaed tho opinion TINT he wns oppoaod to my
violent or Buddon moaH'lro8 for spec1o fcsuhip,,
tiun. He wan too mitch Of All od-taBl'ionea
Democrat TO favor cnlbarAing on any cnrceT ,,a OF
inilaton Which meant no resumption At h! Ing
aonator (orry3 ud CHARGED m WIN atna hoS e,arc np,
takon on several amendments. II no , nsa
haSe ascortatnod that at TINT Time 10 {r!,urmao)
uas on sick bod, and unable to 10 ~ tno ; een;
rio. Had l,o boon presont, ho would hayo voteu
against alt tho amendments and Tor the motion
to reeomnt as o boteyo tl'e Uothn,"o nm asoots "''
hIr. FERRY said lo had comn,onted on tho
action Of the Senator as c1presaou W QUO Of we
leading mi ers III Cncinnati: II hc had oliena1
cd, lilo journalist hud offended. lie !Feiry)
van stlIl At d loss to know wllere tie eenator
stood to.day, aB ho had submittcd 10 propuBi"
tion. no plan. Iro inquired Of tue gentleman
trlll,nlll II he WIS Ill fhvOF OF tho Dill )ust fc-
nprtcd 1y lilo Finance Committee.
MIR. THURMAN tatd hIa present belief "aa
that ho would oppose It, though lle had not ex-
sm,1lrd 1t carefully AZ no had mt time to do 10.
HIS imprcaaou was tint llo would yote against 1t.
Mr.. FERRY sad lo would yo'e to nuke tho
volume OF legal-tendcra $i00. .ooo, ,ooo and Tor
freo-b -bnnking.
Nlr. THURMAN aafl this bin fl1od the amount
Of grcanbachs Mt a3S2, ,0)p, 900, and only increased
Tho National Bank ci Q ,laton TO tle extent of
e1l0, 900. Froe banking meant m extene!on
Ut tho National Bank circulation to many millions
Of dollars Tho only limit would he tho
rmount Of Government bonds which could
le procured to put up as sccn,tties. 1t neaht
M indefinite extension OF itrojccn,ab'e Paper
currency and porpetuntion Of nationnl indebted"
ness 1f National Banking was to bo ror-
potuated, tho national indebtedness m,lDt bot
End, with this high debt, heavy taxation aud
ldyh tariff would continue. Tho perpetual Na.
tional Banking system meant That tue people o1
Ohio mtlst paY IS or 81 NOR e CT Thousand tur
tLoir lumber from Michigan tilan they would
Aavo to paY If thcy could ret IL from Canada. II
1ocant death to freo-trado, and If tho Senator
(Torry) was in favor OF extending tlle System OF
Rational DaukB, he WAS in favor OF exteiiIlng
tho national lndeltcdnena. lie denied tnat tno
bill Just reported nado the currency eIastlc- "
the contrary it uxoi tic Amount by Just as afb!-
trary rulo ~ that OF tic present dar. Ihough
to folt adverse to tho bill now, hc tho Jgbs it III
tlntolv bother than intuition.
pculing discus sion. Tho San.to went INFO OK
ocutiys session, aud Boon aftor adjourned.