New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-03-26
xIJUD CONGRESS-1sT SESSION.


memorial of citizens Of that state asking that 100 acres
OF public land be given TO soldiers OF the late war Re
ferrcd 10 the Committee on Public Lands
Mr. OGLESBY (Rep., I'D presented resolutions OF tue
City Council Of Rock Island In relation TO TIE Rock
Island BRIDGE and opposing the removal Of the military
prison from that place TO Fort LeaYeh"orh heerreu
TO the Committee on Military Affairs
Mr. MORTON (2ep, Ind.) presented n memorial OF
the iron coal and other companies OF ONO stating that
business there In state OF stagnat0n on account Of
tho insufficient volume OF currency and asking thnt the
same be increased and that free banking be authorized
Referred 10 tho Committee on Finance. Mr.. Morton
said the memorial was signed by ftyone firms, aud as
tho Senators OHIO had not heard OF tue petitions
for more currency from that state he desired 10 can
their attontion 10 this He also presented resolutions
for more currency adopted ny large meeGunK g, 1l
business men at Indianapolis. Referred to the Commit
MT FERRY d.ep., Micb) said that a few days ago he
aa 9S 9oSSr 70 p and one Of the papers Of
that city had been pleased to question the agJ OF e
YORK Erprss aud other afternoon papers OF that city for
publishing the memorial In full aud vndlcatlng BIN
MIN mem for increase in the volume
OF the currency. Referred to tue Finance Committee
on Indian A,,Fs reported iavora6y on the House biz
authorizing the Secretary OF the INFERIOR 10 use
pended balances for the removal or the hckapoo
and other Indians to the Indian Territory Passed,
Mr.. FENToN Glib. Rep, N. ~ from the Finance
certain persons New-oreaus customs duties PAD on
machinery imported and mainly used for the nanuae-
The Senate, on motion Of Mr. PRATT rep, rnd) pro
ceeded to tne consideration OF the pension bills on the
pensions TO Cnristana Bailey, Lucinda schrum, Mary
L. Naylor, Hugh p. Little. ana Henry r. d. Rider
TIE FINANCIAL QUESTION
The morning hour ha Wing expired the Senate resumed
the consideration OF bill provide for the redomp
ton and reissue Of United States notes aud for free
banking.
Mr. eCHURz lib. Rep, Mo- moved to amend the
first section OF the bill by striking out "elghty-two"
and inserting fifty SIX" so that the maximum limit OF
The United States notes should be s35000o Instead OF
Mr. WRIGHT diep, Iowa. gave notice that he would
offer amendment 10 strike out the Whole OF the rSt
section OF the bl aud insert section providing tnat
the amount OF United States notes Tor circulation DC
fixed at fl0O.00O0O0.
TIE s4OOOOOO In circulation, and SAID that
It had been the intention Of Congress 10 rere thaI re-
Mr.. BAYARD dem, Deli opposed any increase OF II
redemabe paper money He read from Tue Journal OF
Michigan AIr. Ferry, then member OF the House OF
Representatives., voted for contraction. -"
having Welded his ud -ment that OF the Secretary OF
the Treasury. lie afterward saw the Ioiy VI courac-
Mr. BAYiRb said whether the road to specie pay
ment be hard or easy, 1t must be travelled Tie did nor
ment be reached but could be reached without
contraction He would never give his vote for any pill
reissue Of par. II the SjOO09 reserve It without
authority of law, and he could not vote for t3s1oooo0
egazrd that issue. He argued tina. 1t gross mis-
homer to style any portion OF tae groenbacks which mad
MIR Mr. FRELlSGHUYsEN rep, n j. SAID thar he did
not understand that any pat oil the s4iJH ma poen
cancelled or destroyed. The whole amount had been
Withdrawn in the nature OF reserve oy secretary Ne
CuOcs. The law moant that they should DO retired
Mr. BAYARD said there was question upon which
there could not be difference OF opinion ana now mat
the Secretary the Treasury straits for tue
o lbs b es h0Io 6 de W GS S He
"A QT.yIp1
which ever couia be called reserve fund ana that
amounted to 10000 aud had long since passed out VI
Mr. CONKLING rep, n. " read from the debates
OF Congress TO show hat the secretary OF he treasury
was Perfectly justified placing the construction on tue
law which ne dbl. aud his action IN reissung portion
OF that was not In violation OF law tne ouis
Treasury should not reissue the money enabled MIN 10
construe the law as cOnferng Tue rlgh upon Nun W
reissue H. The argument made nv the gentleman from
Ohio Nir. sherm few days ago that the provision
orDiddng the reissue was nor pat IN because n was NOS
deemed advisable to send tue Dll BACK 10 the HOUSE
reiI 10 the ground, as the bill was amended in other
WAYS, ard went back to the Hotse ...,,,
Mr. SHERMAN REP, Ohio) san that TINS legal dis
cussion the ght OF the Secretary TO issue the re
loss OF time The notes had been issued and
the Government was responsible for them There wls
good ground for difference OF opinion on the subject
but he hoped it would not be discussed now.
Mr. SCOTT N.,p, Peun) said, that after all the dis
cusslou on this subject and having heard AL the hnan
cal theories FROM the time OF Marco Poo down 20
throwing single ray q light on the SUBJECT IL was
not his purpose TO discuss the financial problem gene
rally but there were three questions which he would
REFER FTst, now aud when - TIE pledge contained
ia the act 1863 to be redeemedi Second What chsrac
peope OF the United statesi third, What
quantity OF that currency SHALL he issue s6
busin IS would DO unsettled No sane man would say
Im ss and as gold could NOT be
lac would redeem them in bonds ~ the Government,
which to-day are rs good gold. No financial system
could be devised which would prevent panics As to
the character OF the currency TO be furnished the people
he desired to currency redee M gold lie
! halip
II 1t be redeemed IN gold or bonds, That currency
Before eoncGding his remarks Mr. SCOTT yielded to
Mr. SCHU for motion that the senate proceed 10 the
consideration of Executive business.
Mir. SHERMAN gave notice that tomorrow he would
ask tue Senate to remain IN session until two or three
decisive the Financial bin should be reached
Mr. LOGAN (Rep., Il) hoped there would be an
agreement entered into now To begin voting tomorrow
afternoon at q O'clock III the time De nAeu, senators
would then be present.
Mr. SHERMAN submitted resolutions providing that
after $3.50 O'Clock tomorrow Thursday afternoon,
speeches the financial bill DO limited ~ ten minutes
Mr. BAYARD objected. He said he did not desire TO
see such rae adopted There Ts prn %1 a9s nnn
he would not object He hoped tue senate oil the hted
states would be the place LETT III the country where
the debate should be left to ne entire discretion or the
members ~ the body .
Mr. SHERMAN gave notice that tomorrow he would
ask the senate to pass the resolution.
Mr. OGLESBY rep, H., from the Committee on In
the Secretary Interior funds from the sale
of lands Tor the benefit OF the Usage Indians and was
indefinitely postponed
The motion OF Mr. SCHURZ go into executive session
agreed u. A. o'clock the doors we're reopened
and the senate adjourned.
HOUSE OF REPRESENTATIVES,.
The House met at 10 o'clock a. M, Mr.
sPRAGUE (Rep., Oho) In the Chair as Speaker pro
teu and proceeded with the discussion OF the bill 10
regulate Interstate railroad commerce The proceed
ings from u o'clock supposed, by sort OF
parliamentary fiction, to belong to the legislative day Of
yesterday.
THE MINING BILL.
The fret business in the morning hour was the Senate
bill W hich came from last Thursday, supplemental