National Republican., 1874-05-16

ito dwell now upon the cause Of the par
'ficular inequality In question. say
nothing Of fhe fact that strenuous and
hostile efforts brought the banks Of the
States under the national system and
caused them to accept circulation offered
them for want of other takers. Suffice it
ITO say that New York and some other
States have more than their quota, respec-
lively, of bank circulation.
MY amendment will change this. Forty
s'six million was the increase of bank cir
''culation provided by measure devised
'by expansionists which lately won its way
Gin vain through the Senate. The amend
"ment adopts the same sum and places it
''all at the disposal of deficient States as
'tsoon and as fast as they will take it. If
'the offer be accepted, well; if II be refused,
''for one 1 shall seek the best thing then to
''be hoped for during this session of Con-
''gress. mean no action whatever touch
ling the finances and no attempt at further
Legislation.
''In the present mood and temper of Con-
''gress, if this tender of banking advan-
''tages be not accepted. the best thing left is
''an end of the session. dispatch Of need
"ful legislation, the appropriation bills, the
''civil rights bill, and but little else, and
''then an early adjournment. We can thus
"take down the sword-the sword which
''has been hanging by a hair for five months
''over the head of every business man,
while Congress has drifted upon sea of
talk When the industries of the country
''are relieved from the suspense springing
''from the dread that Congress may do we
"know not what-when the incubus of
uncertainty is lifted from enterprise and
labor, the energy of the nation will in
some measure retrieve and vindicGte them
SELVES. We can at least leave trade free
''to fight its own battle, we can take the
hands of Congress off its throat. An ad-
'.journment will do this. II, however, ac-
'cepting SAG, 900, 900 as the need of deficient
States in respect of bank circulation, the
Senators representing the sections in which
''need is supposed to exist will unite with
Senators representing the States from
(Which it is to be taken, we can redress the
"only grievance which has even an ap-
parent reality.
Therefore, although this amendment
may deprive New York and other States
''of some bank circulation, without express
ling any opinion now upon the justice or
injustice of the complaint made or its good
cor bad faith, without attempting to fore
least the result which alone can show
whether a real need of bank currency
exists, / will vote for the amendment,
because it will present to the option of
deficient States all that we have been told
"by their Senators they need or think they
''need.
These remarks were heartily seconded
by Senator Buckingham, who. with similar
magnanimity, pledged his State to yield her
proportion of the excess to be given up for
the benefit of the sections which are short.
Senators Sherman and Thurman, ofI
Ohio, and Davis, of West Virginia, accepted
these offers on behalf of their States and
urged compromise of the currency ques-
ton by the adoption Of the substitute, but
other counsels prevailed and the offer so
generously made was scorned by the COM
plainants who declared themselves able to
do better, and recorded their names in IA
vor Of an increase of currency. The fol-
lowing is the vote in detail, and exhibits a |
singular mixture of politics and sections.
Ycas-Messrs Anthony, Bayard. Bogy, Bout |
we'll, Buckingham. Conkling, Cooper, Davis, Ed |
munds, Fenton, Flanagan, Gilbert, Hamilton Of |
Hamilton OF Texas, Hamlin, Jones'
Morrill, Of Maine, Morrill, of Vermont, Sargent,
SchurZ, Scott, Sherman, Stewart, /
Stockton Thurman and Wnshburn-T.
Nays-Messrs. Alcorn, Allison, Boreman, Car
penter Clayton, Dennis, Dorsey, Ferry of Michi-
gan, Goldthwaite, Gordon, Harvey Howe, John
'tOn, Logan, McCreery, Merrlmon, Mitchell,
Morton, Oglesby, Patterson, Pratt, Ramsey,
Ransom, Robertson, Spencer, Sprague, Upton,
Window and Wright-2.
Absent-Messrs BroUnlOw. Cameron, Chand-
Ter, COnoyer, Cragin, Ferry OF Connecticut, Ere
inghuysen, Hager, Hitchcock, Ingalls,, Kelly,
Lewis, Norwood, Pease, Stevenson, Wadleigh
md Wcst-17.