Wilmington daily gazette., 1874-01-29
, ronl the New y Nork Herald. of to day.
The Senate Squable Over Ftnancsi
BoutWeii and Richardson Ar
ratCned- The Specie = Asts. .

lu the Seuats, after the neruing hour, the
fuaucaI due stion was resumed in q long ana well
prepared speech by Mr. Bsyard. who went over e.
great deal of ground sho~ing familiarity with
the statistics and close examination OF the nnn-
sgement OF the Treasury, which he denounccd IN
severe terms. both under the management OF
senator Bout we'll and Judge Richardson. and ne
cebsured the former unsparinRly for his defense
ot the latter In the usa ot the fort -four million
reserve and poiuediy referred, with q GOOD deal
Of IRONY. to the fact that. rs Secretary OF the
Treasury one reason controlled hun, while dlf-
ierent one actuated him n SENATOR ne turneo
bY legal Interpretation against Boutwell, the oe-
,ision of Tue nited States Supreme Court OF
December :, lsCS, VI hich tho ex-Secretary OF the
Treasury uad quoted IN his speech he then
walked into Richardson right and leit and said
thc practices oi the Treasury had been nagrant
violations OF law, especially referring to the Gus
tom of retiring and cancel,ug legal lender notes
and then issuing Others IN lieu OF them inns
brought Mir. boutwell, to HIS feet, who cited the
law OF March ., 1853, which, lie contended' gave
express authority to reissue legal tender notes.
10 this Bayard replied thar the statutes must be
construed together and that the law must and
should prevaii lie deplored the millions which
had been expended in gold Ia pay interest on the
National deht, not Yet due, aud great part "t IL
abroad.
he designated Doutwelfs views aud, by conse
uuence the practice of the Treasury Department
a, the iana,oism oi finance, and sneeringy reler
ed tc the tragiG Clusi OF his speech demanding
taxation bellfO ulsYfdce Ill hoiTu"inB AuthS'
loans. Some sop was thrown 10 the dranger', al
/. becoming fashionable il not effective, III botl
houses MIR. Bayard did not propose any specln
pan to cure The evils ot which lie complained, a
lie said it would be presumrtuous in him as one o
the minority. lie was in favor OF the substitution
Of the promise to pay by demand notes and auni
tcation OF the currency, with gradual contraction
boxing to specie payments, which he would no
saw that We could de now in two years, but l
might have been done in that tune from lo'iJ t
1871, which waa our golden opportunity he en-
dorsed ChandeGs specie voracIty, and. with fou
years Of moderate resumption, felt that the Treas
ury could be brought back to honesty and health
1nsncial management; but the greatness OF I'll
country could not he permanently established uu
Ill every promise 10 pas was honestly provided 10
by!specie basis The ps,a IN was well received, Bout
well maintann. trroug ghout that wonderful Inn
mobility aud unruIiied composure which Is hi
characteristics though hs was hot entirety uncoh
cernod at the persistent attacks made upon him b
fhe scioh of the ancient family OF Delaware, J.
which in long line is supposed to be handed dow
the giGgies at the celebrated 'hevalier baYarc
not less kindly was MIR. Boutwell, handled In III
own camp when Mr.. Morrill,, OF Nermont, succeed
ed in the discussion OF the same question