The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-04-10

next great battle fought was in 1870. when the de-
mand for more paper money rang through .ne
halls OF Songress As ~ rang rnd as propos
ton TO tumble out the ballast, spread an tue sans
and to give the snip national e ne me he popos
ton iraught with immense ana ncasu.cless
mischief the gentleman lrom Massa srnn ans
MIR Butler1 had the other day compared INC
! ORIGINATING medium to quart pots and yardsticks
He would take that comparison ana woui ,, repy
10 it that yafdsteks were not redeemed, put were
KANT 10 the standard OF antiquity and OF law.
That was what he wanted TO do with the currency
He desired realities, not shadows; not the gilt vi
trims whicn tempt the eyes but turn to ashes on
the lips He believed that the day was nor TAR
distant when the cry wouu Ge up ah o sno on
whom the dead weight OF all the depreciation
would fan with he most crushing power, curslng
| the day when they were deluded by legerdemaln
49, THE APPEAL OF TIE WEST
/ Mr. KAssoN, (repl OF Iowa, argued TO convince
men IRON the East that there was some good sense
ana justice lie the demand made by the West and
the West had uniformly more deposits than they
\ had circulation. They could not sustain them
selves without circulation, and ne ADMITTED that
| posts which they gathered together and utilized.
4 Ii the East did not want free banking the West
did, In order to establish what banks they could
utilize. Ii the East did not want an increase OF the
currency let the West have it.. The West and
South would be content If they could have
what banking facilities and currency they could
use he believed that in these respects the Senate
bin would be more beneficial to the people OF the
West than the House bill He put il 20 his West
ern colleagues, however, whether II would not De
better TO lake. exclusively ior the States that had
deficiency, the f0rty-six millions, which was all
that they could use Tor some years TO come H.
stead OF adopting the Tree banking system Tor the
West and South. He added that the whole ques-
ton OF good money, as well as OF more money, was
found IN the enhancement OF the value OF the
greenbacks until tney should come to par with
specie.
4 DEMAND FOR RESUMPTION AND HARD MONEY.
Mr.. RANDALL, (dem.l OF Pa, addressed the House
in favor OF a return to specie basis and against
any increase OF legal tenders or national bank
notes, as q step directly from such specie basis
and towards lnnatlon, and as likely 10 produce an
other panic, followed by distress to the people,
AS means OF immediate relief, he proposed TO
diminish the bank reserves on account OF circula
ton and deposit. He also proposed the receiving
OF one-half the customs dues IN legal tenders, as
the other half would yield $1,000 200 in goid
enough each year for the interest due on CON- to
wit-about sos, C00o00 He anmadverted against
the banking system as the greatest monopoly OF
the present day, and urged his party friends to
unite Tor resumption and hard money; and, iurther
Tor the repeal OF all offensive monopolies which
had found lie and had being from the past legSla-
GovEaNoR DIx's MESSAGE.
time has come to eliminate every subordinate iea-
ture in this long debate, and TO rally ABOUT the
nag assaiIed. That is, redemption. New York has,
by its Legislature, made an appeal to congress.
The Message of her Governor is hardly less direct
anu significant than his famous order which Mashed
through the gloom oil 1861. Then there was danger
to the Union Now Its honor and credit are in
peril Irample on sentiment and on principle,
paying our bonds, but not our greenbacks.
Since September s2sooo, 900 in legal tenders
o the peep bonea oe5 has Been
your pledge TO pay in the future cannot al
ways be better than your sacred promise for to-day
Your financial structure depends on the treatment
OF the greenback. Haste las not been required
No one demands impossbilites only be honest;
admit your promise do not insult your creditors.
DO not brand never upon your promise to pay.
Whatever else we can afford we cannot afford to
n Of q o IN so ne
the day when the government snail become the
embodiment OF pledges deliberately violated WIN
I the men OF the MISSISSIPPI valley, the heirs OF
/ empire, celebrate their accession TO power upon
TINS oor by dstrust of the resources the nation
| by infdelity to solemn pledges. The South and
! West need to have capital. The gold premium is
the fatal enemy OF enterprise because mortgage
/ while you have been discussing the finances. 1t Is
not more currency which IS needed but relief from
the gold premium. plead for property, for thrift.
for all who rely on their future, and in their name
protest against taintlng all the streams OF pros
perlty. Great sympathy is expressed here
/ first, the government. The iaborer, me.
/ chanic and artisan are not debtors.
/ Ior the young and enterprising producer, who
creates our prosperity; for the South and West,
rowed now will be made dearer by the gold pre-
MUM and the interest. What is the demand we
make? only not reputation. II you must have
ing it IN due season. Use your sinking iund or
hair OF it to purchase your legal tenders until they
become at par IN gold. In any practical, direct
way begin TO meet your overdue obligations.
WHAT Is the alternative2 Turkish peasants have
sells and costly treasures which Illustrate
I the more precious story OF Troy and the
ess You io9W de sn enr example
I and your glory. Men OF the South and West, do
not trampe on plighted faith You may get more
currency by destroying the premium and bringing
Si35,o00oo0 into use as money. In sucn an lnla-
ton God speed you!
were offered by Messrs. Maynard, Merriam, Far
well and Mitchell, and then Mr.. Maynard de-
ma an eat the previous question ). =, House.
locularly to let his colleague, Mr.. Mellish, be
heard on the question Qaughter,-Mr. Mellish
having already made SO many speeches.
EXCITEMENT IN THE HOUSE.
The excitement which had been growing on the
subject all the afternoon was intensified when the
opponents OF the BILL under the lead OF Mr. Butler,
OF Massachusetts, VINO desired to have the Senate
/ question--yeas, II; nays 142
/ This gave MIR. Butler control OF the question, and
he promptly, amid great confusion and excitement,
moved 10 postpone the further consideration OF the
bill until Tuesday next, stating that he would lo-
low that vote with motion to go to the Speakers
table and take up and pass the senate bill.
The motion to postpone was carried-yeas, 13S;
nays, III, as foilows:-
YEAs-l3a
! Adams. Harris, OF Ga, Packard.
Arthur, Harris. Of Va Parker, Of NO..
1 Atshis; H aagf sSa P Psios
Averiii, Havens Pratt,
Banning, hawley, of H.. Purman,
Begoic, hassiton, of Wis, Randan
Bell haseiton. of N. j., Raisier
Biery, Houghton, Ray
( Bland, Hunier Read.
Bowen Hynes, Robinson
Bradley, Kasson, Rusk
Brght, Kelley;, sayor, OF Ohio,
Baaan. Lamar knapG, ssh haa.ss
Burrows, Lamlson, Sheldon.
Butter, OF Mass. Lampert, Sherwood,
CALDWELL, Loughrdge, smith, Of La,
cessna cessna Lynch. s sin'do u " ~
| Clark Of No, Marshall, Sprague