New-York tribune., 1874-01-14
yIIIIp CONGRESS--1sT SESSION
c,u.p pppoRT OF PROCEEDINGS.

d" i aoovs .xD ". D. FosrER-DEBATE ON
uorc,r1oy BILL IN THE HoUsE-coNsip-
vn,7,os OF TIE NAVAL APPROPRIATION --I. Dill
1rr. ovx.TP SUBSTITUTE FOR THE HOUSE sAlA"h
BILL PASSED. Tom % 1874
c,..,.;, &C tbe Senate, in his opening
80, returned thanks to Divine rro'iu' ,ho,
a.es Of Yesterday he repeal oi 'he ,n rcg,rd
,-z,v y, the peoplo had been aecomphsn0u !" -
thereto. . ,,o s.nato communication
,rou the Postmaster General IN r'Py " -, oe7o,.l
~. ,or information in regard to the use Vi 0.Na-
'S"'"e - Also n similar communication from
s"o.o,ary ., War Both communications were iaiu
mr ~ secretary OF the Interior to use iOr ths
p,s,nsI objects all unexpended balances ~ & ~ me
nons nonsonf Io Time 30 1919 Referred 10 the Committee
TIE SALARIES OF REPORTERS
Mr.. MORRILL, (Rcp., Me-. from the Oommit'eU ou
arproprlations reported back the House OH in'Ni"e
nonratons TO pay the salaries of official reporters o
eve Uouse with an amendment making appropfia'i'"s
,o nav the Official reporters 0 the senate RI, da o
CONKLING thep n ~ thought ihe p.l norters nT I
s,st,ce a. II prupUseu TO pay the house IcPoI'cIS
tsyno Ir annnln AMI they had performed no %o.S ga
ept from time Congress convened on % the other
Ind Inc senate met in extra session alter So ty de-
and continued in session several WAS about
9 9ses "'to tbsse Zines when back pay was not 80
shouable nce was ne to1' n tn' oyer till con,
ni,stion rorld be had. lie did not aPmor,V1 Va tev
Hunss reporters receiving large SALARIES receivnc only
worked o. not, anu tue o'"''O
what fhcv earned. - rr.,,.o had made
Mr. MORRILL, explained that the House euate ua Con-,
sucn eoiIy, 70 gard IT, 1t had been the
usual custom for each House To oon''"'' WV"
, SHERMAN Rep Ohio thought that Tue com
mttce ON Printing sEouid hN t ~ ,91oved an amend-
In each House ot Oous'0S'' ' ~
meot to lTa 6,on r ~ explained that at the time
nude the contract with Its reporters alt'I
Ma,cb q there was Committee on Prlnung III @ tue
House; Dut tie whole mater Was poioie 'no N0"
mites SHERMAN withdrew his amendment. as the Com
,,Iftee afua1y had the SUBJECT uhuer cohsIuoi""o"'
1hs o CoNKLiNG presented the petition of the New
York CbamDcr of Commerce In regard TO the use VI l'
saving rats electric ngnts az sea 10 save Ae' NJ
ffrled tO tue committee on COmIdelce. -, -.
Mr. SUMNER CAD Rep Massl lltio1uGsu a Dil' W. i
yidOg that tne 0dst Of the iae Chei S'so "a & m
placed in tue supreme Court room Referred TO lhe
Committee the Library. 49,. .-,
Mr.. HAMLIN tRep., Me) introduced Joint & reSoiu u
ton providing for the appJin ment Oi commission OF
fonrItwo members Of the senate and two members OF
the Hucsc-tO inquire lltO Che condition OF the navy
nI wua changes are necessary 10 bring ii TO higher
state Gi discipline, and that two officers OF the navy,
uo below ne crade of COMMANDER he detalled tor uuy
with tho commission tlo rePof1 oi salu $1,000 e
pe preACut the next session oi Congress keefleu
10 thc Committee on Naval Affair. .,r,
The House resolution to MI he vacancies W lne bo"lu
OF Regents VI tie smithsonian institution Was taken up
The CHAIR appointed Mr. Sargent Gep.. Ca) mem
her Board OF gents OF the Smithsonian AAsti-
tutiOn on tAt part OF the senate
TBg REDEMPTION OF UNITED STATES NOTES IN GOLD COIN.
inc Senate then proceeded 10 the consideration Of the
resolution reported by Finance Committee declaring
It 70 be the duty of Congress 10 adopt definite measures
10 the pledge male in the act of 1882 for the
earliest practicable redemption OF United States notes
Mr. FEKRi Rep .Mich.) said, as he shared in the
public anxiety the Senate should act GU the QIes
b substitute for the resolution OF the Committee.
10 narrow the subject down to moderate increase of
the currency. lie therefore withdrew the substitute
formerly presented ny hlm and submitted the following
e Committee Oh Finance be directed to report to TIE senate
rd stability and elasticity 20 the Circulating me
an. through moderate Increase Of the currency.
Mr.. FbELINGhUYsEN Dep, y. j. addressed the
Senate tue resolution OF the Committee. He SAID
ine evils resulting from currency its character and
the many pledge, have made IN reference 10 it, for
bd that there should De any urher procrastnaon on
the suolect The huctuatiOn III currency for the
past ton years has caused emDrTass in business
and unless the currency be brought - gold basis such
embarfassInents would increase Our currency should
not only Invested OF its uctuang nature, out should
have tAe character OF money All over the world Now 1T
was nothing more tuan promise TO pay. Let 1T be
deIsiood int our currency /, TO be redeemed gold
and II will circulate over the world 1t had been Said
tbat our currency good because it sustained by
The wealth whole nation OF what interest was
the nations wealth TO the DhOlder II Congress did not
provide for paying these notes IL was delusl0n TO
suppose tnGt nc nations wealth made the grcenDacks
good unless Congress provided for thcr pay nent Our
currency placed and kept at par, by making
lis cODyer!bty into coin realization NOS an eGpecta.
ton Our business relations are extending every where
py4r t, world and our currenc, should good where
ever our raIe goes the notes Ot the Bank Of England
we're received settlement by our merchants and cir
tuate freely on the Continent oI Europe. He did not
see WHY ous nOits could not do the same.
Mr. MOhION (Repr lnd.l inquired II the Senator
could ulo. lin what extent tnOse notes circulated
the Continent; II II Was not rare thIng " meet
ta6m.
snOui o Sucn circulation. lie knew mat those nOtes
circulated freely, the best possible currency
travellers on me Continent could get Continuing ms
that np
bic period Tor returning To specie payment had passed
We should have commenced long ago. Making United
States notes legal tender only exercise OF war
power, Du tie time mad now come when the exercise OF
that power should cease ana an earnest effort SHOULD be
made to keep the solemn pledge OF the nation as
20 a plan to convert the legal tenders into gold.
lie Thought the secretary o the. Treasury should
cent interest, payable in UIited States specie
paying notes. gold and the proceeds used TO purchase
should De accumulated to begin the redemption Of out
standing notes; such notes. after being redeemed not to
be resuod except III exchange Tor gold coln and wnen
ressucd De redeemed in gold com. lie knew thar
this pau would be objected to- and II would be said
could not get sOd that II boarded II IN the treasury
would cause an increase III Lhe price But, az the
whole thing left in the discretion OF the Secretary,
sDd no time was fixed within which accumulation
SHOULD be- made, OF where redemption should be begun,
te anticipated no trouble. The banks would exchange
their gold for United States notes. aud II would become
matter OF Indifference whether import duties and in
trest on our bonds were PAID IN gold or not COnse
nuenty gold would not be in demand II the system OF
paper expansion insisted the day of Government
Bankruptcy would bo sure 10 come.
In conclusion he presented a bill TO secure resump-
S0n OF specie payments without contracting the
teucy II referred TO the Committee on Finance
authorzes the Secretary of the Treasury to
foOoOO OF SIX per cent en-iorty bonus, 90 be dis
posed OF from time 10 time, for the purpose Of purchas
iog sooOOCo OF gold coin, with which to redeem legal
tender notes OF the United states shall be in the
discretion OF the secretary o the Treasury soon as he
shah deem 1t expecient, with such Of gold as
Tor the tune being he may procured, TO
Segln and continue the redemption OF legal tenders
when redeemed they are not to be ressued except in
efchage Tor gold coin at par andwhen soressued they
email % rcdeemaDIe IN soid c2 bat the total OF
exceed s3jGco,Go The bull further provides that NJ
after beginning said redemption, the Government shall
oc unable 10 redeem part OF SAID legal tenders in gold
the secretary may redeem them by exchanging tne
aforesaid bonds at par for them ~
Mr.. GORDON Dem, Gal introduced a resolufton