, 1874-12-23
how fnst tllo now notcR would bo faauod but their
ihsuo would undoubtedly

OF tho country. l}Of0lO tho arrival pf tho time
wssns, legal tenders would he rcluood to $780, |
0oD0tl0 oio or two Cougrcsaos would have mot
antl alaaprearod, nnd llo Thought 1t mich bettnr
TO leave tho question Of destroying or rciAnri'g
TINT money to t1lo1n.
hfr. Schlrz-'i'tu Senator then ad,uito TINT tito
Secretary i'lhy rcibs1ie tlIe 10 per cont .tain ?
Mr. Sllorn,uu-1 DO not ,unlio any such admits
aull,
Continuing ha argument, llo aail 1t would not
10 wiso to introduce into tlis bill II controversy |
which would destroy TINT unity by which tho |
good It containol cnmll bo accomplished, 1Io |
approved Tho bill bcca,lro cycry portion Of 1t |
tended to Hpccle payments.
alr. sehurz said Cougress ought to 1naho tho
bill as clpnr na possible. Tho Senator (shorma'D
hnoW from his OWL oxpotiol,co TINT 1t tho lcnst
loof.llolo DO left tho TREASURY might reissue
100000 or $40. 900, 600 ~ it did once boforc.
hr. Thurman Aali tho FIRST and second scct,onp
Of llle bill were all right, hut tho third uection
llo thought worry weak. Thiu WAS n hill ofa grnnt
tsrn Of omission and tho loaHt possible commits
slon. Tor yoar past thero had been frea bnni-
inE lit niaY portions Of tho country, ind tho coli
sequence waB thns
TItE CURRENCY HAD 1NonEAsEp
about 81, COO, ,0n0. pass this bill, and lie yon-
trel tho assertion TINT tllo increase Of National
Dark curronoy In Lilo next four yoars would not
bucks not over S8, ,00o.000. Tho pauio upon tho
country waa tho roallat Of ovcr-tralinE ano OK
traynsas,co until At Lust tho bubble bnrBt, and
u4oro camo Q ecneon Of retrenchnlont mud ocono-
TINT tho business of tho country mover revived
in less period tlau four yoara after
pauic. Nothing but time. honesty, ocono
my, a,d rotreuchmons would act GusinenB
in motioI, md nuke tito c1n1try prosperous. It
could not bo done by 4ilerlng, or uy bills which
omitted everything md contained nothing. 1lo
oFrErEp An AMENDMENT
an m additional ucction: That from and after
duties uIas!l 10 payable in United States legal
tetldor notoa Or in National Dnnknotou, ant nltvr
Innn -, 1876. ono.tentii, a,sl aftus Jnno %,
1871 ono-1fsh part thereof 1nny 10 paitt.
OTHER AMESDstr,;TY.
Dir. Dogy moved 10 amon1 tho a.noutmont ly
striking out oil aftor tho word 'that IN tho
first linz, mid inscrsInG IN lisu tlsereuf pro-
viso tlat Oh and aftor 5ny l., 1876 the l.tios
notes or coin at tho option Of tho importer. He
spoke at sonle length iu support Of ia auonsl-
mont, mud gaia llo wonld 1oto for tho bill report
ell from tho Finance Committee with bis a1nenl-
,ncnt attached to It 3; othorwiuo llo woull yoto
n1r. Dayard inquired Of tho Chairman Of tho
Finnnce Committee {5iiernlan) il l,c would OBJ
iect to inserting the word " destroy aflur tito
word :" rcdoom IN The third section, NJ that 1t
would read "lt shall DO tile duty Of the Secretary
Of tho Treasury to redeem al,l dostroy lo1a1-
lander United States notoa in czcesn only OF
sSU0, 600 0U0." etc.
aEr Sherman Haid TINT he had stated before
| that i'll bis opinion that question should he
left to tho futuro, and he could not coraout to
| tho amendment.
Mr. Dayord mid tho honorable Senator {sler-
| maui had betrayed hofe both hiH elnl'nrrnss-
! mont and 1s flisploasuro when sucl. questions
woro askcd him. Ho (Bayard) hoped lilo coun--
| try would notice the answer OF tho Chairman Of
| tic Finance Committee, who, representing hla
party triouls here, declined to allow tho bilt to
| be amended. 1t was we'll known for years past
| orncd without law in manner, md mouoY
| redeemed would bo rotssuod nnless prohibi-
tion bo inserted iii tho bill. Ho thought this
donblc-faccd, bill. and 1t ueemod to him 70 DO
| Juggling with question which ought to DO
! lnutter of honest business
Tho question bclug OIL DoGy'a amendment to
the amendment, 1t Naa rejected without dfvis-
| ion. 4 vote WIS then tnI;on Oil Mr. Thurn,an'u
sa'"u1DsD'' S. A''' II "'' f0'S'''0'0'' ID A''9'
Mr. Sau1ebnry moyel to atril1o out 1879. ~ the
ttmo for return to Bpocic-peymcnts. and to inHort
| 1877. Rejected.
air. Hamilton movod to striko ont oil after
tho enacting clause Of tho bill, mud to ingort In
place t!.oreof, "t!,at from, and after tho it'll Of
JULY, a. D. 1876 nothing hnt gold and pi!yor
shall bo legal tender fur tho payhlont Of debta
| contracted thereafter"
| afE STEVENSON
Bad to was opposed to the bill! reported by tho
| Committee, because iu voting for 1t ho would
not know whether. he was voting for contraction
| or expansion. 11e was unwilling to loayo it in
the power Of eny Secretary Of tho Treasury to
!
grpat faltll In tue honesty aud goud faith Of tho
present Secretary Of tho Treasury, but would not
loayo snci !. power In the hauda Of any Secretary,
cithor Republican or Democrat.
AMENDMENT wIT1InnAwS.
| Nfr. Hamilton said ho would withdraw his
| amendment.
1rr: Idmnnds objected, aud said 1t could not
| be withdrawn.
mat,ded tho Chair (alr. AlIison) rnles! it couldbs
Withdrawn, tho yeaB and nays not having been
| ordered.
1 demand was made. bnt tho Senate did not
order them. THO amendment waa then with
| drawn.
| CARPENTER PROTECTS.
Afr. Carpontor said he Desired to put in d pro"
tost upon tho ruling Of tho Chnit upon tho do
ma''d for tho yeas and nAys Tho demand bud
boon made, antt tho question Should have bcen
put, il the Souato would order thcm, before tho
! Senator from Alarytaud could he permitted to
| withdraw Ills a1neudn,cnt.
MR. ncNuRz rAyons THE D1IL.
Mr.. schurz saia ho would vote for the bill in
causo it contained pledge to roturn to specie
,aymcnt III 1873, aud mumpcrB uf this body
voting for the bill would do all in their
power to mako that pledge, good. lie did
wns eontinod within tho walls Of this chamber,
and io predicted to-day tbat tllo financial minds
OF tho country would say TINT tho provisions OF
tho bill wero inadequate to carry ont tho psopo-
wo,lll loayo tic curroncy of tho country in tlo
aau,o condition In which 1t found it. Ho offered
no factious opposition to it. .Ho did not think
it would produce O quiet, soothing OBJECT upo1
ousys Of h so,t r.. Th0 ds5 e19or rqm
passod hoforo tho holidays. and Why not lot 1t bc
reconmitto1, tEIat Bono featura looking to specie
resumption might bo Incorporated. Ho nloyot
that tho bill he rocommittod to tho Committee
OIL Finance with instructions to Incorporate III
IL a11ch nroyfBnnH rH arc Cn1cutntt to pronhro tux