Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1874-01-29
Debate in the Senate Yesterday on the
Resumption of Specie Payments.
Public BaIIdings-LiIe-SaVing Stations
and RoWards-The Army ApprO-
alton Bill-Etc., Etc.


! national board of trade for the removal
of distractions TO navigation at and near
the mouth of Detroit river. Referred.
Also, a petition from citizens of New
York, asking an amendment TO existing
laws to enable free banking OH gold
basis. Referred.
A bin for the relief of Marcus Otter
bourg, late consul of the United States
at the city Of Mexico, and minister to
the republic of Mexico, was, after some
discussion, passed by vote of twenty
five to nineteen. The bill makes an ap-
preparation to pay Mr.. Otterbourg the
salary Of minister while acting as such
at the republic of Mexico.
Senator Edmunds entered a motion
to reconsider the vote by which the bill
was passed.
Senator Conkling said it should be
remembered that OtterbouTg was NOM
mated one day for the position and i'm
mediately rejected by the senate.
Senator Cameron moved to amend
the diplomatic and consular system
Of the act of August s, 1856. The bill
drafted by the State department pro-
poses to revise the salaries of
many of the United States cOnsuls, and
consuls-general throughout the world.
inent are the cOnsuls-general at London,
seven thousand dollars; Paris, seven
thousand; Calcutta, five thousand:
Montreal, four thousand; Cairo, four
thousand; Havana, six thousand: Rio
de Janeiro, six thousand; Kanagawa,
five thousand; Shanghai, six thousand:
Vienna, four thousand; Berlin, Frank
fort, Rome and COnstantinoDle, three
thousand each; consuls at Liverpool,
six thousand; Hong-Kong, four thou
sand; Manchester and Havre, three
thousand each. All others have smaller
salaries than the amounts above named,
but have also fees. Referred.
The morning hour having expired,
the senate resumed the consideration Of
the resolution 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 Is,
1863, for the practical redemption of
United States notes.
Senator Bayard addressed the senate.
He said the people of the United States,
in a financial condition, had arrived at
a point where two roads forked, and the
question was, whether they would take
the path that led to the right OF that
which led to the left. The legal-tender
act was a war measure, and should
not be continued now in time of peace.
The standard of values should be de-
clsred by basiDg all currency on a gold
standard, and he had 10 doubt the peo-
pie of this country would cheerfully
make sacrifices to deliver themselves
from the evils of paper currency under
which they have labored for the past
twelve years. The path of duty, hon
esty and wisdom was that to the
of specie payments at the /
earliest possible day. The reissue ofIegal- !
tender notes, he thought, was not only |
without warrant OF law, but against law. |
When Senator Boutwell, had closed his
speech the other day, by declaring we
must have dishOnOr or increased taxa
ton, he (Bayard) thought the senator
had written his own epitaph as finan-
cier. He did not propose any specific
plan for the resumption of specie pay
ments, but would support any sound
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 banks for them |
selves, subject, of course, to the |
of The constitution pro- |
tender. Let the State system Of banks 4
be again revived. He believed enough |
gold could be accumulated in the treas
1ry within the next four years to meet
every obligation as presented, but there
should be cessation in the payment of
iebts not yet due, the principal of
which is not desired by holders.
Senator Morrill, Vermont, said the
question was above all party questions
md belonged to the people of the whole
United States as such. He would show
he gentleman from Massachusetts, Mr..
Boutwell, by his own record that his
DOlicy of standing still was impossible,
md that in the mad current he had
Deen and would be swept along. He
hen cited Mr.. BoutwelPs votes aud re-
Dorts, in support of his position. He
insisted that no class derived a smaller
,rofit from the currency than those en-
ragged in agriculture. He regretted that
my secretary should have taken the re-
of coming to the senate and
louse of Representatives and saying that
lnless g law be passed giving a different
to that already on the
tatute book, he would take the respon-
ibility of issuing forty-four millions of
lillars whenever it was necessary for
wants of the government. Senator Bout
veil has spoken of our inability to re-
urn to specie payment now, on account
# the poverty Of the country. He
hOught that out of place. The esti-
mated wealth of the country is three
Iuarters as much as that of France and
ther older nations, and yet Senator
Boutwell, said we could not resume on
ccOunt of poverty, and at the same
ime said he had never made the state
nent before. He Morrill, hoped he
you'd never make it again.
Pending the discussion, at half-past
our, the senate went into executive ses-
ion, and after a few minutes the doors
1ere reopened and the senate adjourned.