New-York tribune., 1874-01-29
xLIIIp CONGRESS--Isr SESSION
REGULAR REPORT OF PROCEEDINGS.

REGULAR REPORT OF PROCEEDINGS.
spxKcnEs BY SENATOR'S BAYARD AND MORRILL, ON
THE FINANCE REsOLUTION-THE ARMY APPRoPRi-
ALTON BILL UNDER CONSIDERATION IN THE HOUSE
SENATE. WASHINGTON. Jan 2s, 1874
Mr.. STOCKTON Oem., n. j. presented reso-
iutons Of the NewJersey Legislature asking an
pration for arming and equipping the whole oooy OF
militia the United States Referred to the committee
on Military Affairs.
Mr.. ANTHONY 1sep.. r. ~ presented Pe'iuo" VI
persons NewYork asking for the modlnca'ion Va VII"
laws governing masters and sesmen in the merchant
marine service. Referred to the Committee on oo"'
merce Mr. Anthony said that this subject needed some
attention for the improvement Of the service he ro-
membered the time when good, Respectable young % uen
foMsrd seanen He hoped matter wOdld receive the
NJ "RoIYTWFIf fRsp Mass, from the Committee
Public Lands, reported with amendcnt the o III in.ro ,
cal force in the General Land Office Placed on the cal
The nl granting relief to Eva. Eta. Henry, and Guy
Carleton heirs of Gen. James Carleton deceased was
The bin for the relief of Brent and Jack Smith
se hi for the relief of Marcus oerbourg late Con
anil OF the United States at the City of Mexico and Min
lister the Republic OF Mexico. after some discus
sion passed by a vote OF 25 to 10 The b makes an ap
preparation 10 pay Oterbourg the salary OF Minister
while acting as such at the Republic OF Mexico
Mr. EDMUNDs ep w entered ere ,nSIion 10 recon"
Mr. CoNKLING tRep n ~ SAID II should De ere roinenI e
bered that Mr. Otterhonrs was nominated one day %
for position and also immediately rejected pF the
Senate.
BY Mr.. CAMERON Isepr PENN to amend the the, DPlo Sc
pac ana Co9sar ae nc' Derartment nroposing
revise the salaries oi many OF tue United states S1
suls and CoDsuls General throughout the world rue
salaries provided for the more prominent are as io'
lows: - ooo p..,. g. ooo Calcutta
$1,000 Montreal 1000 Cairo $1,000 Havana 9 & mo ao
a. oo Be,lp PsnIfot Rome CoDstsnaope $1,000 each
consuis-Gi Liverpool s6oO0 Hong Kong soOoi Manchester
All the others smaller salaries than the am amounts
above named. but have also fees keleIeu 10 the Noh
BY Mr.. r" EDMUSDS CRep, vl)-To provide assistance
employment Of a secretary. on salary not exceeding
s2sco. to assist any Federal Judge who by reason OF
pnysca inrmity l. unable. in the opinion of the AtOr
assistance Referred to the Committee ON the Judiciary
THE SPECIE PAYMENT RESOLUTION.
The morning hour having expired, the Senate re-
sumed consideration of resolution reported by the
Finance Committee declaring it to be the duty OF Con-
gress the present session to adopt some dente meas
ures to redeem the pledge made IN the act OF Maron 10,
1862 for the practical redemption OF Uneu states holeS
IN COIN ~. nj, .,,os.,, ,,o so,,,o Ia
said the people OF the United states in Their financial
condition had arrived at the point where roads forked,
TO the right or the left He briefly reviewed the
financial policy of the Government and argued that the
continued now in times peace. standard of values
should be declared by baslng all on the gold
couutry would chcerully make sacrifices to deliver
themselves from the evils of paper currency under
He quoted words of Daniel Webster against dsordered
aDd M Tsh e s Syon
He argued that the path Of duty honesty, and
wisdom that to resumption OF specie payment, al
the earliest possible day aud quoted the opinion of
Secretary McCuloch IN favor OF retiring legal tender
notes The reissue lesal tender notes, Thought,
was not only without warrant OF law but against the
law. The policy of the late Secretary Nir. Bout,
welD had been continued by his successor, and
that Senator declared the floor the other
day in his speech that any policy looking in the drec-
possible that the people OF the United states were to
had closed mis- speech by declaring that we must have
dishonor or increased taxation: He INT Bayardl
thought the Senator had written his own epaph as
fnanCier by these words.
lie next read from decisonof the supremeCourt, TO
that greenback redeemabe in CON- and said
he hoped there would be end ofthe wretched qubOe.
dishoDorDg TO the country about promising to pay.
system pufed overvalued prices kept up with the
idea of making people believe they are wealthy when
OF the present financial policy the more he desired to
position and tendency seemed to be to look TO the
era Government for that assistance which individual
railroads and hand them over to the secretary of the
INTERIOR purchase the telegraph and hand over TO
the and others OF similar character
all tended to convert the Government INTO vast mo,
nopoly in the shadow OF which individual liberty would
wIther and die. He did not propose specific plan for
the resumption OF specie payments D9t wonid support
financial basis The National banking system he thought
imperfect and hoped to the time wnen the people of
this Union would have the right 10 regulate banks for
themselves subject of course to the restrictions of the
Constitution prohibiting any note being made a
revived The honest business Of the country has been
oudone by dishonest business The past two years had
been wasted. He would not say that all hope had
passed away but there had been failure 10 take adj
vantage The opportunities OF that period. He be-
leyed enough gold could be accumulated IN the Treas
sury within the next four years to meet every obligation
as presented but there should be cessation in the pay
ment of debts yet the principal OF which is not
desired by the holders such policy would suffice TO
bring OF the United States back to system
honesty and wisdom, winch the honor OF the Govern
lnent demands.
Mr. MORRILL, CRep.. vt) said 1t was not his purpose
again 10 the Senate until after the report OF the
Committee Finance but the subject was OF such vast
Importance, affecting the honor and interests OF the
country that he could not omit ANYTHING that ne be-
eved TO be his duty This question was above AL party
questions and belonged 10 the people OF the whole or
the United States as such. he hoped some
measure would be adoDted TO preserve the pub
lie credit and uphold the honor or the country.
He would show the gentleman from Massachusetts Mr.
BoutweD by his record that his policy of standing
stall was impossible In the mad current, he had been.
and would be, swept along. He read from me Con-
BoutweD was a member OF the other House. upon res
outOn introduced by his colleague, MI AHey declhr-
Inc that the House concur with the Secretary of the
Trsasnry in contracting currency, and early
sunption of specie payment as the interests Oi
the country will permit and pleogins return 20
Yea and Nay vote, and voting III the aHrInatlVe ne
found the name OF George 5. Boutwell, de tMr MorrID
next read from the report made by the gentleman
INT BOutwelD when he Secretary OF the Treasury
in 1859 in which said: "Our course, seems to me,
upon the subject tend appreciate the value Of
our paper currency and he followed tins With the sug
Clothed Clothed With authority to reduce the circulation
of United States notes not ehceeaing H1l,oo"g ~
In any one month hs raSua 'ne and ,Se
third year his administrator he reiterated these SEN
tments and said there were two modes OF Tee one 70
reduce the volume the currency, and the otner 10
await the growth of the country and the demands OF
business. which in time would produce the desired re-
seemed to have changed his views l.,
He (Mr. MorrilD referred to the arguments made In
class derived smaller prOnt from