New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-02-17
XJJIIp CONGRESS--1sT SESSION


Mr.. ANTHONY (Rep., X. ~ presented a me-
mortal signed By officers Of National banks in Massachu-
ots and Rhode Island protesting against the passage
OF the bill for the Withdrawal Of currency from Now
England. Laid on the table. 81
Mr. KELLY Dem.. Oregon presented petition OF
cyeus of that state in regard to charges against his
ro,eaeuc Mr. Mitchell and asking that the same he In
yestigated by the Senase Mr. KELLY said he had been
.couaiped with Mr. Mitchell for twelve and knew
nothing derogatory TO his character In presenting
these charges he desired it TO be distinctly understood
that he said nothing III favor OF or AGAINST thSmmthat
that the subject be referred TO the Commute on PrlV
leees and eSiio1s II was so 0IIeree tho credentials
of the r. L. withors elected United States senator
from Yircina TO succeed Mr.. Lewis Read ana iHu on
Mr. FRELINGHUYsEN C2ep., N. j. presented a me
had applied to Tie American Colonization Society for
transportation Liberia. but the Society was unable 10
send them, and asking that tue Government detail
vessel TO carry them to Liberia and bring back produce
hIso asking the old Of the Government for the con
strlcton railroad into the interior of Liberia he
ferred 10 the Committee on Commerce -,
Mt WRIGHT Qcp., Iowa. presented petition or citi-
of thai state for the restoration OF the duty on te
and coffee aud an increase OF the duly on
hiso joint resolution OF the Legislature recon
intending the adoption of an amendment TO the COnsttn
the compensation Inombers OF shall apply to
future Congresses and not TO te orc innsSS r zoe
Referred u the Committee on Privileges ana biecuoms,
Tho Senate then proceeded to the consideration o '"'
When the biI for The appointment OF commission on
the subject " The alcoholic liquor t.ac was re would
call A. up tomorrow morning for consideration III the
Mr. CAMERON Ulrp.. PcnnJ notice that . on
"Wednesday he world ask the senate 10 take up the
House ban IN relation to the Centennial Exhibition. o.
Mr.. SHERMAN UIsp, Ohio sand he wond oqe 1n 10
ANYTHING being considered until after the present D 10
eqaalse the distribution Of currency should Dc dspoSeu
THE BILL TO EoUAIzE THE CURRENCY
Tho morning hour having expired, the Senate resumed
consideration OF the bin to equalze the distribution
ofcUriency.
Mr. CAMERON GIrp.. PENN moved 20 strike out all
after the enacting clause of the bill insert sub
statute provision that part OF the National Currency
act Of June 1894 aud parts of several acts amendaory
thereof, and otner acts which limit or re-
I've repealed and that all associations or
glused for banking shall be free TO eS ti,a
National banks with circulation sullecL TO me hmita
tons provided Ivy law, except the Limitation as 10
olrondiign Thlch Is hereby fePSaeG r aS the
country deficient in the banking facilities so neGes
tnOus people. Being practical man. be looked ad a,
heard a single business man say That we had enough
currency. The National banking system had done muh
good and should be extended His substitute was de-
sgned satisfy the demand for more money, Without
causing any shock 10 capital already invested III goou
allowing no greater abundance OF money at time
than another yet it was well-known fact that at
Of the year we want more money than AT
others. THIS fixed amount OF currency was terror 10
honest men and Jubilee to sRecgaor o mon
were OF employ on account OF the scarcity
An attempt 10 return 10 specie pdJmtu
now would he disastrous to the whole country he
would oppose scheme looking to specie payments
payment OF our notes this time They well understand
that they pay them by the burdens of taxation.
action The present currency would buy anything, and
the people of the country knew 1t was good IAe Ma.
features greenbacks except Onethey were not legal
removal Of The ban which limited the circulation 10
an equal footing with the banks already established and
supply OF would always DC equal 10
Mi FRELINGHUYsEN Rep. n. j. said the adoption
OF such "a that proposed by the gentleman
Pennsylvania would be iramplug under foot the
promises made to redeem our notes in coin, and II
adopted the widest speculation would follow Its adop
tOn would be or greater injury 10 the financial and
business interests OF country than Rebellion
He thought there was ample provision for banking
in the first place, making the expenditures OF the Gov
ernment as small as consistent with the dignity and
r"pts unless we choose by our own folly 10 make our.
selves so. The second thing We ought to DO
Is 60 impose taxes. The people of
this country understand that this is their Gov
sneS With S"f is ppospery WEeReVe there
city it they desire to be taxed in accordance with
increased to 81 gallon that would yield revenue
OF tOO4o0 The tax on tobacco should be Increased
20 to 81 cents per pound which would yield reve-
of sl2ODO0O Congress had taken the tax on tea
and coffee though that act had not decreased the price
of those articles. He disposed TO make the peO
pie pay by rensatng that tax but If It should be
restored revenue of $4,000 per would be the
result hence, he favored, first reasonable retrench-
mcnt second necessary taxation; and third, redeem
Mi FLANAGAN rep, Tex said lie opposed 10
Imitation and would support the bill IL from the
Dc gained by initiation. They wanted money there but
would give their cattle, their sugar, and their cotton for
IL. Coin what the people wanted, and we should
get back to specie payments soon as possible The
Senator from Iowa ir. Wright had few DAYS ago re-
ferred 10 financial arrangement as SICK patient;
He approved Of the idea that the patient was sick aud
inquired daily as to the symptoms. and discussed
remained sick The people inquired OF the doctors II
any hope and they replied. "lf the patient
gets better. and grows no worse, he may recover.
ILlughter At first tins patient nad pulse of LOG and
SS; now up to ll2 and 49, and We are go
Ing give II 4Oor IS pills i Will die on very easy ke-
newed aughterl No balf.dozen senators agreed upon
any definite plan He would suggest That the Finance
ton IN good faith Let the Treasury OF the United
states. properly organized advertise that the Gov;
ernIDeut will bay every bale OF cotton raised
in the South curing the next twelve mouths,
and pay for in greenbacks say u cents for ordinary
for good Is cents for low mlddngs 20 cents I0r
middngs, and y cents for good nlddngs; tnat would
b5 average OF Is cents per pound ana Woud Dld up
fiat distressed portion OF the country.
Mr. BUCKINGHAM (sep., Comm said the Finance
Committee, by the Oil reported seemed 70 nave single
try The discussion which ensued would doubt be
benefit the Committee, and he therefore moved tha
with the views Senators brought ont by the
dIsoussiOn the Committee could frame "a DI winch |
aoHd harmonize with the views OF the majority.
Mr. MORTON rep, Iudl said he no advantage |
IN Toe gained Dy recOmmittlnR the Dill Three months
nearly had already passed. and. far this finance
measure was concerned, progress had been made.
The Committee first brought forward resolution OF
sentimental character ~ their twenty-five million o,
must be settled by the Senate and being now before the
Senste should be determined. 49,
Mr. SHERMAN (Rep., Ohio) said he did not know but |
that ne would the motion TO recommit The FL
nance Committee had reported the bill to eqqaize the
currency bona de Of relief, and he dld not
believe there five Senators against the original
proposition but it bad been loaded down Win other
questions He would therefore vote for the motion 70
recOmmit than prolong the discussion The Dill
had been antSgonized with every KIND OF pIoposoh iu