The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-04-02
HOUSE OF REPRESENTATIVES,.
Anti-Infationists In the House.

WASHINGTON, April !, 1874.
After Mr.. RAINEY, (rep.) Of s. G., had replied to
the statement of the Republican Central Commit
tee OF his State with reference to the recent ou.-
burst OF indignation among the taxpayers, and
Mr.. CLYMER, (dem.) of Pa had reported bill
authorizing the Secretary Of the Interior to sell
certain unappropriated lands to the Mennonites OF
Russia, the Currency bill was taken up in the
House.
Mr.. PHELPS, rep) of N. j., spoke against the
BILL and against the imitation of the currency. He
spoke he Sad for the interests OF labor in the field
and labor IN the shop. While the moral effects OF
deprecated currency might permeate all classes,
rich and poor alike, the pecuniary loss the mate
rial suffering fell on the poor man. The rich man,
the merchant, In the infinite variety of invest
ments could protect himself. Wall street, Beacon
street and Chestnut street could take care OF
themselves, and throw OF the burdens of depre.
ciated currency or change them by alchemy into
health. The poor man could not throw OF single
burden. Therefore 1t was that as q represe
tive he should speak for the poor man. He spoke
LOT the farmers whose ploughs were rusting In
their burrows; Tor 5000 mechanics who darkened
the streets OF Paterson with their patient waiting.
They had asked for bread and had got stone-for
money, and Congress- had given them rag.
CONNECTICUT AGAINST INITIATION
Mr.. HAwLEY, rep.) OF Conn. another member
OF the Banking Oommlttee). followed on the same
side Of the question. He argued that II the nation
Wdo picukcu W uuyJulHB IL Was pleuBeu W Lue
early resumption OF specie payment. II was
pledged to the redemption OF the legal tender cur
rency and that pledge should be kept The action
OF the conventions or Doth great political parties
was IN favor Of speedy return to specie pay
ments. He characterized as unconstitutional the
$44 600 900 lnfatiOn. He declared that he could not
vote Tor the pending bill He knew that it had one
good thing In IT, and that was the feature intro
duced Dy Mr.. Phelps, providing Tor the monthly
issue OF s. 600 oil gold notes as substitutes for
an equal volume OF legal tender notes, redeemable
In two years. so far the bill was goed for II planted
n m rh n rnln m lnnE
not satisfied with the general PROVISIONS OF
the bin. He was not satisfied with any bill which
did not bear IN mind the great primary duty OF
returning TO the true standard Of value. The
practical redemption proposed in this bill he had
seen the line OF the Pacific Railroad; but there
they termed 1t "three card mOnte.n He would
vote every dollar OF mere paper money out OF his
town and out OF his State before he would consent
to ten cents OF imitation and he would stay at tome
IRON Congress all the rest Of his life rather than do
It, He warned the House that II 1t passed this bill
1t would be taking step iraught with more evil TO
the country than the Kansas Nebraska bill, which
had been SO big with controversy and war. Would
they he Asked ever find 1t easier to 90 back toward
specie payments than nOwH Would they ever
would not vote tor any man for Office. even mis-
dearest friend, who did not have sound principles
on the question OF return to specie payment.
At tue clase OF Mr. Hawley's speech cOiioquy
and Mr.. ELDRIDGE In regard to the legal tender
decision OF the Supreme Court. Mr.. Eldridge de-
clarinR that the decision would have been differ
ent II two new associate justices had not be en-
appointed at that time, and Mr.. HOar asserting
tnat the decision was made before their appoint
ment.
The House them at i've O'Clock, took a recess
till half-past seven, the evening session to be Tor
POLAND stating hts belief that 1t would be finished
at this evenings session.