The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1874-04-07

case, the secretary of the treasury is hereDv
authorized TO make further additions TO the
currency until the circulation, per CAPITA as
above, is - -
FAIRLY BQUALIzED,
and until every citizen of the United States can
get his notes discounted at such rates Of interest
as he desires. And the secretary of the treasury
will steadily continue such additions to the cur
reney until every citizen ofthe United states has
enough, and until the country is entirely re
neved Of its present public debt, and of any
Inrtner necessity OF borrowing money abroad for
the CONSTRUCTIONS OF railroads and other public
so that all interest now paid on
such debts may be kept AT home and when this
Is accomplished the secretary OF the treasury
snail forthwith resume specie payments with
out any shock 10 the business OF the country
(Langhter)
The chair ruled that the substitute was not he
fore the Senate.
The amendments made in the committee of
the whole were then eoncurred in without a
The question being shall the bill be read n
third time and passed Mr.. Conkling said the
Dill proposed TO put out and keep out the whole
forty-four million reserve. 1t passed TO put ouf
and keep out redeemable bank paper fempor-
airy reilet might come from it but 1t would only
smooth the way TO disaster and distress hereafter
Such policy spurned the experience of every
epoch OF history, trampled upon and violated
the falth OF the nation. Every department OF
the government was pledged to redeem this pa
per, besides the declaration OF the naronaI con-
yentions of that political purity which class
most OF the senators upon this floor, as we'll as
the chief magistrate of the nation, who was
also pledged against this policy.
Messrs. stewart oil Nevada, and Anthony of
the bill.
Mr.. Thurman said that after four monthS n,
dehberation the dominant party in the Senate
In disregard OF the recommendations of the
chief magistrate, in isregard of the recommen-
d2tlon OF the secretary of the treasury and in
utter contempt Of the experienced finance COM
mittee, had adopted a measure proposed by one
S SaS ths sdnnaed w ne great republican party
(Thurman) could take no credit in this triumph
which his democratic friend from North Caro-
ma (Merr1mon) had achieved. After all their
discussion, IL was reserved for the pine woods OF
North Carolina to shape the financial des-
TIMES OF the country. He (Thurman) believed il
would disband the republican party, though he
could not say that the one to which he belonged
wa, was very solid on this question. CLaughter)
The action OF the Senate to-day simply meant
that no
MAN OF HIS AGE
would ever again see in this country the money
referred to by our forefathers and the trainers of
our constitution.
MIR. Sargent said he relied upon another de-
partment of the government TO set right the
wrong which had been done here. This admin
istration had been elected upon a pledge con-
trary to this bill. He (SargenD believed there
were men enough in the east and in the west to
see any party perish or the leader of any party
perish who attempted to flood the country with
an irredeemable paper currency.
Mr.. Schurz said he felt humiliated, as an
tleman who favored the bill might think them.
selves Seneftted, but the day is not far distant
when they would curse the hour they gave such
vote. The day was not far off when people
would recover their senses, and save themselves
from these statesmen who would lead the coun
try TO ruin.
to say that those upon his side had agreed
among themselves to remain silent in order that
there might be vote. They had determined To
say nothing, and when smitten on one cheek, to
be vetoed, and SAID that such an action on the
part of the president, would but add to his great
Mr.. Morton said that there would be an on
portunity to reply to these most extraordinary
speeches. and he would avail himself of il, but
for the present he'would forbear.
The bill then read the third time and
passed, yeas %, nays "a, as follows.
Yeas; Allison, Bogy, Boreman, Cameron, Car
Goidhwaite, HarveU Hfchcock ingalls,. ienIgan. Jean.
ston, Lewis, Logan ,McCreery, MerrimOn, Morton,
Norwood, Oglesby. Patterson, Pease, Pratt, Ram
sey, hooertsonA Spencer, Upton, West and
Nays; Anthony, Chandler, Conklipg Cooper,
Cragin, Davis, Eenton, Frelinghuysen, Hamilton
Of Maryland, Hamilton of Texas, ,Hamlin Howe
Jones, Kelley, Morrill, of Vermont, Sargent
Salisbury, Schurz. Scott. sherman, Stewart,
Thurman and Wadleigh, "a.
Messrs. Gordon, Brownlow, Mitchell, Sprague
Conover, Ransom and Wright, who would have
ard, Flanagan, Boutwell,, Morrill,, of Maine, Ste
vensOn, Stockton and Edmunds who would
The bill, as passed, reads as follows: Sec 1.
That the maximum amount of United States
notesi is hereby fixed at four hundred millions of
lars, in notes for circulation, in addition to
such circulation now allowed by law shall be
issued to the the national banking associations
hereafter, and such increased circulation shall
be distributed among the several states as pro-
vided for in section one of the act entitled "An
act TO provide for the redemption of the 3 per
centum temporary loan certificates and for an
10 $50. and each national bansinp assocatioSS SIS
now organized or hereafter to be organized shall
keep and maintain as part of its reserve, as re-
by IL as interest on the bonds of the United States
deposited as security for the circulating notes
on government deposits and that hereafter only
one-fourth of the revenue now prescribed by
law for national banking associations shall con-
sist OF balances due to an association available
associations in cities OF redemption, and upon
which balances no interest shall be paid.
Mr.. Anthony moved that the first bill on the
GALE ndar being that for the relief of Lewis Ash
bury Dickens, be taken mp so as to be the unfin-
ished business tomorrow.
This was agreed to and the Senate adjourned.
HOUSE.
THE KENTUCKY CONTESTED ELECTIoN-A CAP
TTATION TAX ON IMMIGRANTS-CLoSING UP
DEBATE ON THE CURRENCY.
Under a call of the states, several bills, none
of general importance, were reported and re-
ferred.
On the motion of Mr.. Sawyer, of Wisconsin,
permission was given to the committee on pub
lie lands to report back the Senate bill extending
TO the 3lst of December, 1876, the time for com :
pleting the Central railroad of Wisconsin. A fter
considerable debate. the bill passed.
Mr.. Grassland, of Kentucky, from the commit
tee on elections, made a report in the Kentucky
contested election case, that Mr.. Young, the sit
ting member, was entitled to the seat.
Mr.. Butler. of Mass ,chusetts, moved that the
bill 70 suspend impeached officials be made a
special order for Tuesday of next week. Agreed
TO.
Pennsylvanta, offered resolutions instructing
the committee on commerce to inquire into the
question oflevyiDg a capitatlon at the port of
New York. Referred.
Mr.. Maynard, of Tennessee, chairman of the
committee on banking and currency, gave no.
tice that he would move the previous ques-
ton on the currency bill at the close of the dis
cussion tomorrow. The House then adjourned.
A NOVEL LIQUOR BILL. H