The Cairo bulletin. [volume] (Cairo, Ill.) 1872-1878, 1874-01-16
SENATE.

Senator Schurz, made yesterday, and said
he could not agree with that gentleman.
He Norton believed that in order to
bring our currency to par we must resort
to othrr means than contraction. He was
opposed to . reduction IN the price OF
labor or commodities. If it must DO done,
it should be dono very gradually. Sena-
tor Schurz would do it all at once. He
would descend from Lake Erie to Lake
Ontario over the Niagara Falls. Schurz
Was mistaksn-he did not at all desire IL
should be done 1t once.
Mr.. Fenton said that while he concurred
in the views Of the gentleman from Mis-
souri,, (Schurz). he did not desire to DO un.
derstood a. advocating . rapid Withdrawal
Of currency. 1t should be done gradually,
and time should b fixed for the resump
ton Of specie payment.
Mr.. Morton said the remedy presented
by tho gentleman from New York, Mr..
Fenton, was like that offered by the gen.
tlsman from Missouri, Mr.. Schurz, on the
contraction Of currency. II would DO we'll
for the country to understand now, tina.
the proposition IL that va return to specie
payment, BY contraction of currency. The
great body of the people OF the North west,
that the currency circulation 10 too small
He argued that ne should not be guided
don IL mig ,saI living uisy fniis. i1u,n Ia :
bank, asd most Of them lived in towns
or Villages, in eight Of banks. The facil.
lilies for bank credits there were much
greater than in this country and there
was no necessity for 90 great q volume of
currency. In conclusion Mr., Morton ar
gued that the policy Of contraction was
DISASTROUS and and ruinous. He would
rather see currency increase . small
amount; tina. there was . smaller volume
OF currency to-day, compsred with the
wealth and business of the country than
there was i've years ago, compared with
the wealth and business OF the country AZ
that time.
Mr.. Howe said 80 many plans had been
devised that he began TO think Il would
be unpAtriotic in him not to say some
thing, and he had therefore given notice
. few days ago that be would introduce a
OIL. According with such notice he sent
It TO tae clerks desk and had him read the
Dill, the title of which il.
bill to provide for tho gradual
withdrawal from tho c,culstion OF
unredeemable national notes and the sub
stitution therefor, Of redesmabls national
oanks, TO remove unjust restrictions upon
oanKs OF issue and upon the am ount Of
cifcuiaton. He said he thought the
country WAS dong business on q .caffold
good way up from solid ground and su,-
aimed BY statute, repeal that
tatuss and business viii tumble
Town. He did not nronos.
listurb tho volume of currsncv ln,
trongly appreciate it's value. He sdvo.
sted the passage of the bill and erpr..s.
d the opinion that it would be tho re-,
node to return 10 specie p,ymant Ths
should insintsin s,,;c, -
rality between those who demand ,nos.
nd those Who dsm.ra uu more
herman announced that bs wonia 'oncy
n the resolution to.morrow n NV , ~.
Mr.. Schurx said IL had b.sn .,
him by Senator Boutwell, of Nass
hat no had done him iniusties In Ma
peech Of yesterday, in ssvinp that ha
had advocated ths d"O,s; w
lat tho government was influencsd onIv
, it's own pleasure in redseminy i.o.i
'ndsr notes, and might net thsrefsrs 20
Gem them at all, il Il were able 10 do ,o
10 had certainly no intention 70 do Mr.
BOUTWELL, an injustice. After rs.dino fron,
speech Of that gentleman, in which he
nd legal tenders are redsemsble At the
ieasure OF the government, and that
nue. the process was going ON to bring