The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-01-22
Senator Merrimon for Another
Million of Currency and Specie
Payment July a, 1870.
THE CENTENNIAL EXPOSITION.
Passage by the House Of the Bill
to Invite Foreign Powers
to Join In It
SENATE.

thony and others from women In various parts OF
tho country asking for legislation coutcrrng upon
them the right TO vote Referred to the Committee
On Privileges and Elections
Mr.. FRELINGHUYsKN, trep.l OF N. j.. presented
concurrent resolution OF the New Jersey Legisia-
ture asking an appropriation TO celebrate the Gen.
tennial anniversary, which was laid ON the table.
He also introduced petition Of the Camden
Board OF Trade against q repeal OF the Bankrupt
Law, Referred to the Judiciary Committee.
Mr.. MORTON, trep) of Ind, presented q memorial
OF the Indianapolis Woman Suffrage Association
protesting against the passage OF q law limiting
suffrage in the Territories to males. Referred TO
the Judiciary Committee.
EXPENSES OF THE INTERIOR DEPARTMENT.
Mr.. ANTHONY, (rep.) OF R. l., from the Committee
on Printing reported back communication from
the Secretary Of the Interior In regard to the annual
expenditures of that Department, with the recon-
mendation that 1t should not be printed on &C
count OF its being voluminouS-
Mr. srEwaEI Tspl Of New, tno1Snt a, sSe a0eu
much information as to Indian expenditures. The
subject was recommitted.
SALE OF PUBLIC PROPERTY AT HARPRR'S FERRY.
Mr.. EDMUNDs, rep) OF VI, rom the Committee
on the judiciary, reported BACK tne resolution re-
guessing the Attorney General to INFORM the Sen
ate as TO the sale OF government property at Har-
per's Ferry and pending suits In relation thereto
THE ALCOHOLIC TRAFFIC.
M. WRIGHT, rep.l OF Iowa, from the Finance
Committee. reported back bill providing for the
appointment OF a commission to investigate as to
the manufacture and sale OF alcoholic liquors, with
an amendment in the nature OF substitute, and
recon mended that 1t be passed. 1t was placed ON
the substitute provides that the President shah
appoint, with the consent OF the senate, i've CON-
mIsslOners whose duty II shall be to investigate
The alcoholic liquor traffc in It's economic crlml-
tnal, moral and scientific aspects, IN connection
health and general welfare OF the people; and
shall also inquire anG take testimony as to the
practical result Of license and restrictive leglsla
ton FOR the prevention OF intemperance in the
several States. These commissioners are to be
selected solely with reference to personal illness
ana capacity for honest, mparttal and thorough
investiy alton, and shall hold office not to exceed
'One year. Neither OF them shall be the holder OF
any ONCE OF profit in the general OR state govern
ment. They are to receive no compensation; but
the government is to pay the necessary expenses
the President and TO be by him transmitted 70 Con-
gress.
uNDsKvALUA1Ios IN CUSTOM HOUSE INVOICES
Mr.. MORRILL,, rep.) or W., nom the Finance
Committee, reported favorably on the bill ex-
planatory OF the act TO regulate the collection OF
Passed.
This IL the bill introduced by Senator Penton on
the Sth OF December last 1t provides that nothing
contained in the act referred to shall be con-
strued to vitiate involve the confiscation OF
IN entire invoice In consequence OF any Item or
Items contained in the same being UNDERMINED {;
but thEt such confscauon shall apply only to the
merchandise actually undervalued In said invoice
CHANGING THE TITLES OF NAVAL OFFICERS
Mr.. CKAGH. (rep.) OF N. H., from the committee
on Naval Anars reported back. with an amend;
p11cers. Placed on the calendar.
OREGON INDIAN CLAIMS.
M e. ss e 81 0ses bv
Oregon on account OF Indian depredations. Re-
ferred to the Committee on Indian Affairs.
BILLS INTRoDUCED.
Mr. DAVIS, (dem.) OF W. Va, introduced bill to
provide Tor geological survey OF the State Of West
Virginia Referred to the Committee on Asricul-
Mr.. CRouER, (rep) OF Kansas, introduced q bill
70 amend the act 70 provide ior the establishment
Of 9 military prison. Referred to the Committee
Mr.. INGALLS,, Vepy Of Kansas, introduced bill
road Company, and granting the night Of way over
the public lands. Referred 10 The COMMITTEE on
COURTS m WASHINGTON TERRITORY.
Mr.. EDhUSDs. OF Vermont introduced resou-
SSons instfuctng the Judiciary Committee TO in
Territory can be diminished by decreasing the
number Of places at which court shall be held
Adopted.
PUBLICATION OF SPEECHES NOT DELIVERED
Mr.. ANTHONY introduced resolution ioroidding
the publication Of remarks 10 the Cony'ess,onta u
Record or any portion Of speeches not actually de-
nvered In the Senate or House OF Representatives
Referred to the Committee on Printing.
CURRENCY AND FINANCE.
Consideration OF the resolution reported by the
Finance Committee declaring IL TO be the duty or
Congress TO adopt measures to redeem the pledge
valne. always redeemable IN gold or It's equivalent,
was resumed, and Mr.. MERRINoN (dem) OF N q,
joyed the confidence OF its people more than any
country on the face OF the earth YET our currency
He argued that it was impossible to make paper
currency equal to gold. Ii was idle and criminal
f S % a. sa We 70 nse
on level with the commercial nations OF me
earth, and 70 90 this we must have
establish medium OF exchange based upon gold
and silver we can never have the advantage Of
commerce Ho advocated an immediate resump-
OOu or specie PAYMENT The Doodle OF tie united
States had lost twenty per cent in all their ex-
cnangss FoW the time the ys.em De
cnuea, depreciation viii continue, and 1t s the
duty OF Congress TO nd the country OF this state Of
ment has been pledged. He surprised that
not a single definite plan by which we could get
back TO specie payment had been proposed. The
Fourth OF July, isS6 would be The centennial OF our
Independence and he trusted that glorious events
would transplre on that day, one Of them return
20 specie payments Let the gold accumulate IN
the Treasury over ana above the amount necessary
70 pay the interest on the public debt. II that
on the Market when would bring god at par on
the Fourth Of July ts7e Let every dollar Of green
backs be redeemed in coin. In the meantime let
the volume Of currency be increased. He COM
puted our present circulation at sTe9, 100000
which was not enough by at least 500, 600, 600
New York and New England were credit States
and had debts due them from all sections OF the
country. Money could be obtained in New York,
as there was plenty OF it there, but to obtain IL
collateral security equal to the money itself must
be put up. He spoke OF she unequal distribution
OF the currency and the pressing needs or the
South on account thereof.
M. SHERMAN, (rep.) Of Ohio, said the Comptroller
Of the Currency had authority now TO withdraw
42s,ooo,0o0 from New England and give 1t to the
south and West or States which have not their
proper proportion.
MI SHERMAS-That is another question.
MI mERkfM0s said, IN reply to the Senator
rom vermont tMr. Edmunds), that If the
money was down South 1t would 20 back very
Slowly II tne banks OF New York and New England
1lo NOV oner interest for IL. As those states pay
lnterest the money goes there. He denied that the
currency was redundant az compared with the
CIRCULATION OF france and England. Those countries
were denSely populated and their exchange was
small Another 500 600 ooO put in circulation here
would revive the business OF the country, Our
Rreenback system, which might be termed bloated
had many debts contracted under II. The agree,
ments we're that these debts should be Inundated
in greenbacks. Now 1t Is proposed TO Contract the
currency, which would compel the payment in a
more precious medium than the one under which
they were created. He would postpone the time