Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-01-29
CONGRESSIONA AL.
Bayard Gavors Specie Resump-
ton
And Revival of the State Bank
System.
Vermont MOrrills Quotes Bout
WELLS Record.
The Army Bill before the House.
Proposed Contraction of Green
backs to. 1856, 100000.
The Army Bill before the Hous
SENATE.


SENATE.
WASHINGTON, January 28.-Mr.
Conkling presented petitions of soldiers
in the late war, stating their belief that
they are entitled to one hundred and sixty
acres Of land, and asking the appointment
of a special committee to investigate as to
the working of existing laws touching the
subject. Referred.
He also presented petition from citizens
of New York asking an amendment to eX-
isting laws, to enable free banking on
gold basis. Referred.
A bill for the relief Marcus Otterbourg,
late Consul of the United States at the
City of Mexico, and Minister to the Re
public of Mexico, was, after some discus
sion, passed by a vote of twenty-five to
nineteen. The bill makes an appropriation
TO pay Otterburg the salary of Minister
while acting as such at the Republic of
Mexico.
Mr.. Edmunds entered a motion to re-
consider the vote by which the bill was
passed.
Mr.. Conkling said it should be remem-
bered that Otterbourg was nominated one
| day for the position and Immediately re-
jected by the Senate.
Consular Salaries.
A bill was introduced by MIR. Cameron
to amend the diplomatic and consular
systems of the act of Aug. S, 1856. The
bill drafted by the State Department pro-
poses to revise the salaries of many of the
| United States Consuls and Consuls Gene
raj throughout the world. The salaries
provided for the more prominent are:
Consuls General at London and Paris,
| $1,000 each; at Calcutta and flanagan,
5000; at Montreal, Cairo and Vienna,
$1,000; at Havana, Rio de Janeiro and
Shanghai, $1,000; at Berlin, Frankfort,
Rome and COnstantinople, 5000 each.
Consuls at Liverpool, $4,000; Hong Kong,
| $1,000; Manchester and Havre, 5000.
All others have smaller salaries than the
amounts above named but have also fees.
Referred.
The morning hour having expired the
| Senate resumed consideration of the reSO-
luton reported by the Finance Committee
| declaring it TO be the duty of Congress, at
the present session, to adopt definite
measures to redeem the pledge made in
the act of March 10, 1869, for practical
redemption of United States notes in coin.
Mr.. Bayard
| duuT6SStu TIC Stldlc. I1c Salu Tie people
of the United States, in financial condition,
had arrived at a point where two roads
forked, and the question was whether they
would take the path to the right or that to
the left. The legal tender act was a war
measure ana should it be continued now in
time of peace? The standard of values
should be declared by basing all currency
on the gold standard, and he had no doubt
the people OF this country would cheerfully
make the sacrifices TO deliver themselves
from the evils of paper currency under
which they had labored for the past twelve
years. The path of duty, honesty and
wisdom, was that of resumption of specie
payment at the earliest possible day. The
reissue Of legal tender notes, he thought,
was not only without warrant of law but
against the law. When the Senator (Bout-
well) had closed his remarks the other day
declaring We must have diShOnor or in
creased taxation, he (Bayard) thought the
Senator had
Written His own EpitaPh
as financier. lie did not propose a spe-
| cific plan for the resumption of specie pay
mentS, but would support any sound meas
| Ure to place the United States on a firm
| financial basis. He hoped to see the time
when the people would have the right to
regulate the banks for themselves, subject
of course to the strict sense of the Consti-
tuition prohibiting any note being made
| legal tender. Let
The State System
| of banks be again revived. He believed
! enough gold could be accumulated in the
| Treasury within the next four years TO
meet every obligation as presented. But
| there should be cessation in the pay
ment of debts not yet due, the principal of
| which is not desired by the holders.
Mr.. Morrill,, of Vermont, said the queS-
| ton was above all party questions, and be-
| longed to the people Of the whole United
| States as such. He Would show the gen
tleman from Massachusetts (BOutwel) by
his own record that his policy of
Standing Still was Impossible,
and that in the mad current he had been
and would be swept along He then cited
| BOutwell's votes and reports in support Of
his position. He insisted that no class de-
rived smaller profit from the Currency than
those engaged in agriculture. lie regretted
that any Secretary should have taken the
responsibility Of coming to the Senate and
| House of Representatives unless q law be
passed giving different Interpretation to
that already in the statue book. He would
take the responsibility Of issuing S44, OOO,-
900 whenever it was necessary for the wants
1 of the government. Senator Boutwell, had
| proofs OF our inability to return to specie
| payment now, on account OF the poverty Of
the country. He thought that out OF place.
| The estimated wealth Of the country is
| tlree-fOurthS as much IS that Of France
and other older nations, yet Senator Bout
well says We could not resume on account
OF poverty, and at the same time said he
had never Inade the statement before. He
| (NlorTilD hoped he would never make it
| again,
Pending discussion at 4:30 Senate went
into executive session and after few min
utes the doors were re-opeIed and the Sen
ate adjourned.