, 1874-06-21


ths appropriation Of Scot. .ooo to replace worn
aud nutilated National Bank notes. Agreed to.
HOUSE OF REPRESENTATIVES.
ARKASsAs AFFAIRS.
Mr. POLAND, from the Committee on Arkan-
Sd. Affairs, presented tho testimony already
taken, which was ordered printed. and = reaulu-
ton to continue tho powers Of the Committee
during the vacation.
Mr. ELDREDGE remarked that tho Arkansas
case was very like tho South Carolina case, and
would take great deal moro money out Of the
Treasury. It was not in the power OF tho Fed
eral Government to interfere in tho matter.
Mr.. POLAND said tho Committee had exam
ined considerable number OF witnesses from
Arkansas, and had got general idca Of the con-
dltion OF thinga- The Committee was uuAn-
l1nously OF tho oEiniou, the Democratic members
of it as we'll as the Republican mombery, that it
waa necessary for the peace and good order OF
things in Arkansas that the Committee should
be continued during the vacation. SO far aa tho
individual members OF tho Committee wero con-
cerncd, they Ind no special desire to visit
Arkansas. but they wcro OF the opinion that it
VAS highly proper and important that tho cora-
miiteo should be continued The resolution "ss
adopted-yeas, 1879: nays, IL
CONFERENCE CURRENCY BILL.
Mr.. DAWES presented the report OF tho Con-
ference Committee on tile Currency bill, aud
proceeded 10 explain it. He regretted that the
report did nos contain. rs the first con!efence
sumption Of specie payments on the part Of the
Government or for EnY retirement under any
circumstances of any portion OF the Government
issue. Ho regrets exceedingly that it had been
found Impossible to bring tie two HOUSES To-
gethor on any euch agreement.
But the matter which seemed to some not only
to DO demanded by public faith, hut also seemed
easy of accomplishment had been found unable
to regulate through the two Houses or in tTo
Conference Committees.
hP9lfntA
to feel that the fixing Of the maximum issue OF
greenbacks something gained. 1t had
therefore fixed tho maximum st sSso, 600, GOO,
and required it to be Kept III circulation instead
OF having part OF it kep. in reserve IN the Treas
ury, to be shot out or drawn in az If on somo
tramwav The second feature OF the bill WAS
equally important. I. was that there should be
no further increase Of the Natlonal-Bank cur
1ency, therefore the country would know, 30 tar
as this Congress was concerned :lat the whole
volume OF the Eational-Bana currency WaB capa-
bio OF being ascertained.
Another question which had stared the Com
ittee in the face the necessity OF the dstrl-
button Of the National-Bank currency. and, as he
was the only member OF the Conference Com
mittea who represented a section OF the country
which had more than its share OF tho bsnk-note
circulation, it would not have been becoming In
him to oppose redistribution. He had, thero-
fore, given in his adhesion to tho report, Which
! proposed to tedistribute 5.000,000 OF the
$50, 900, 600 now retained by one section Of the
country more thEn it was eutitled to by ratio OF
wealth and population.
! Another feature WAS as to the national re-
| serve, and on that point he explained what
| wonld be tho effect Of the bill. He commended
| this report to the consideration OF the House,
and particularly to that section OF the countr.
which had steadily refused two things
m increase in tho volume Of the cur
| the sane time got $5o,O0ooo0 more than
| it's share OF tho currency. He would
say to that section OF the country that it could
not afford to stand before The people in tho Light
distribution Of what currency there ls. II it re-
| fused to permit any mora ho Desired to su5gest
! that that section OF the country WAS ultimately
| in tho power Of the other section, which only
| demanded this equitable distribution, and noth-
! ing raore To do equitably WAS tho surest WaJ
III. nAWLEY (conn.) declared. rs d Now
| Eng slauder, and as representative OF the bank
| ing centre, that he willing to vote for the
redistribution OF 55 ooo goo IL that ~ palt OF tna
| to hayo voted on the proposition to that euect
| offered by Mr.. Kasson.
| aIr. HUDBELL addressed ar- Hawley.
| Mr. HAWLEY (impctuously) Mot word.
| Dir. HUEDELL-Docs not the gentleman
know it is impossible to vote for Redistribution
Of s55, ,0c0 0O0 unleEs la votes for this bill
| NJ. HAWLEY-I claim the floor without in
terrupton say, US New Eng!ander, that yon
| are 1T liberty to take MI Of this currency which
| is necessary to equellze the distribution, but I
| will not vote for any measure TINT increases the
| volume Of irredcemable paper currency, or TINT
| decreases the value OF the currency IN actual
use. and thereby expands prices to tho widest
margin between pap:r and gold, and to that e1'
| ten: postpoacs indefinitely tho day OF resump-
| tion The gentleman has got to come to this
| doctrine jubt as sure as grass grows and water
runs.
Mr. KELLEY-No, you have got to abandon
it.
Mr, HALE Clo.) said he, like the gentleman
from Connecticut (Hawley) was willing TO vote
for redistribution Of the bank circulation, but
he vent farther than that. He WAS not only Will
ing to vote for it just proportion OF fairness
| but lie WAS going to vote for this hill Ines o1
| them-Havley aud Mmse1f-yas that tho gen.
tle,n.n from Connecticut was i'll favor OF fail
distribution when 1t could not bo voted, while ht
II:le) was in favor Of it Y lien it could DO voted
Mr. HAWLEY lin loud and angry tonese
That ia an unjuh md ungeutlemsnly lnslnua-
tion. ECrien Of ocdc: and loud ham1ne1ing oi
the Speakers gsrell It's diahonozable state
ment.
order. aud ask tha. lis words bo :akou down.
SpEAkEn-Tho words wele entirely unPa1-
| li2mentary.
Mr. HALE apparently surpriaod)-"hoso
words?
| SIEAlAIsls-l NoTl9 lEp1tl tAp AetAAA "a
| Connecticut were entirely yun:ar.lamentafy
Mr.. IAWLEi-So far 81 they n'2y De OF an
rnparla,oentary character W1thd1a" them.
Alr. HAlE-l hare been hero too long to be
coSed down bv tho gentleman from connecsl-
cut. I was savlng, and 1 repeat it for tue bene-
tit of the gentleman from Connecticut, that he
il iu flyor It distribution when it il not up aud
has lust declared that he will not vote for It
when it is up, but an in favor OF it, and will
yoto Tor it when m opportunity occurs- viii
do it. as eaid before in spirit OF fairness and
concession to another section OF the country
While Go not beliovo that it is based on any
fair principles Of finance, still believe thai
s:c;ion Of tue country to which it belongs il
homes! in its demands, and l an willing tt
mako the concession.
| Mr. SHANkS-iou think that the West il
honest, but not very sensible in this proposi'
tan.
Mr. KELLEY favored the conference report
It did not retire greeobacs nor G1 an arbitrary
d:5 for tlc resumption OF specie payment; mo-
did it add to the volume Ut the currency, but Il
did open the WAY for the uds Of that Which wax
nov locked up in the bauk-raults OK put into
circulation fraudulen.lJ aud iuegali-. La the
name Of tue Vest aad South, where tee power Of
empire dTeit. ne assured tho two eeatlefnel
from Coanectscut and Maino {ha"lsy Aaa
and