The Portland daily press., 1874-12-11
Forty Third Congressional Session.
SENATE.

out the index. Passed.
Mr.. Wright of Iowa, gave notice that week
from Friday he would call up the bill declaring
the true intent of the Union Pacific Railroad
acts.
On motion of Mr.. Morrill, of Maine, Monday
next was fixed for the consideration OF the Dill
providing government for the District OF Co
lumbia.
Mr.. Hamlin introduced a joint resolution APP
pointing George Bancroft a member OF tne
Board Of Regents of the Smithsonian Institute
in place of Gen. w. T. Sherman, resigned.
Several bills and memorials were introduced
and referred.
The Senate at 12.45 proceeded to the consid
Grafton of executive business. AT 1905 the
doors were reOpened.
Mr. Boreman moved that when the Senate
adjourned to-day it be to Monday next. Agreed
to-
Mr. Cameron presented the memorial signed
by large number of American seamen, pray
ing for such legislation as will better promote
the efficiency of the marine hospital service.
Referred to the Committee on Commerce.
The Chair laid before the Senate message
from the President communicating an answer
to the Senate resolution; also the message from
the President communicating in obedience to
law, statement of fees accounted for by con
sular officers in Office Dec. 20, 1873 Referred
to the Committee OE Commerce.
Mr. West from the Committee on Appropria-
tious, reported back to the House bill appro-
priating $50, 900 for the purchase of scales fol
the Post Office Department, with an amend
ment that proposals for furnishing such scales
shall be invited for at least seven days. and con-
tracts awarded to the lowest responsible bid
ders. The amendment was agreed to and the
bill passed the Senate.
At Ito adjourned till Monday.
HOUSE
Mr. Stowell of Va, rising to a question of
10 al nj,
against him by his political opponent (Porter)
of having sold a naval cadetship for $1,000 to
one Sehoolcraft, and having sold his vote on
other questions.
He said he had rot had an opportunity of
denying it before the election, but the result of
the election had shown the opinions OF his
constituents. He has subsequently,, in letter
to the Petersburg Index denounced the charges
of Porter as infamous lies and vile ISLANDERS.
He now asked for an investigation by COM
mittee of the House; The matter was, on mO-
ton of Mr.. Frye of Me-. referred to the Com.
mistee on Naval Affairs with power to send
for persons and papers, and to report at any
time.
A resolution was adopted calling for a re-
port of the present condition OF the freedmen
banks, and bill was introduced that the COM
missioner of the Freedmen's Bank dec are an
immediate dividend and sue the trustees and
other officers of the bank with a view OF hold
ing them personally liable. Referred.
Mr.. Swami, from the Committee on Appro-
priations, reported the diplomatic approprla-
made the special order for the 23d inst
Mr.. Willard, from the Committee on Foreign
Affairs, reported a bill repeating the third Sec
ton of the last diplomatic bill, which, after
explanation, was passed. The repealed section
forbids consular officers to grant certificates for
goods or merchandise shipped from countries
adjacent to the United States, which have
passed consulate after purchase for ship
ment.
The House went into Committee Of the
Whole, Mr.. Tyner of Ind, In the chair, and re-
sumed the consideration of the bill authorizing
the issue of 365 convertible bonds.
Mr.. Willard of VT, offered an amendment.
providing that greenbacks shall not De legal
tender in payment of debts on contract, after
the LIST of July, 1875.
Mr.. Dawes, chairman OF the Committee OF
of Ways and Means opened the debate. He
spoke of the present condition of things as be-
ing fraught with evil, and said the patience of
the people was well nigh exhausted. The ques-
ton was, whether the pending bill would re m :
edy the evil. There was no lack of earneStnesS
for the remedy, but there was gread diversity
of opinion as to what would prove remedy.
Why was it that labor was out of employment
and capital was not willing to invest itself in
the hands of labor. His colleague (Butler)
had given as a reason that capitalists were
afraid lest Congress would contract the cur
points: First, that capitalists ould not lend
money on time, because they were afraid of
Congress, and the executive would contract the
currency.
Mr.. Butler-That is not my proposition.
Mr. Dawes-If there was anything in the ar
gument it would be because currency when
contracted, is not worth as much to the credi-
tor when his debt is paid.
Mr.. Butler-Not at all.
Mr.. Dawes-If more is worth more to him
when the debt is paid, then of course he would
rather lend his money on time. The fact is
that capitalists are afraid to lend money on
time lest the currency should be not contracted
but expanded, and because they know an in
fated currency is not worth as much as con-
tracted currency.
The effort of the pending bill, however, was
to perpetuate the present condition ct things.
AS to its saving interest to the government,
he proceeded to demonstrate, it would increase
the burden of interest to the government He
also argued that in6smuch as a 3 per cent. ~
year bond, payable in gold, is now worth only
par in the market, a 1852 cent. 3O-year gold
bond would be worth only 81 per cent, and it
payable in currency would be worth 10 per cent
less He characterized Mr. Kelly's ideas as the
suDlimest stretch of financial imagination and
the Hottest flight of political economy that has
ever beentsent abroad on the air from the
House, and suggested that no holder of 5 and 6
per cent gold bonds was going to be fool
enough to exchange them for 365 currency
bonds.
AS to his colleagues opinion that it took four
bushels of corn to transport one bushel from
Iowa to the Atlantic seaboard, he CDawes) had
referred to the price current and found that
corn in Chicago cost 70 cents bushel. and the
transportation to the seaboard was only from 20
to % cents.
Mr.. Dawes, passing from this point and
touching on Buffers allusion to the savings of
the Massachusetts servant girls and the conse-
-eucnces of their withdrawal from the banks,
proceeded to argue that the direct and inevita-
BILE consequence of the substitution OF the
pending bill for the existing state affairs, in
stead of bringing relief by approaching the
greenback to gold, would sink it 10 and Is per
cent. and thereby take from the laborer 10 and
10 per cent. of the purchasing power of his
days wages and cut down his now scanty loaf
of bread, He argued the greenback would be
worth as much as gold to-day if the govern
ment would pay it when presented, and it would
never be worth as much as gold till the govern
ment did that.
In conclusion, he said: Those who are respon
sible for public affairs have no time to lose.
We can put off our duty in the premises no
longer The Republican party has just three
months to save or destroy its existence. No
other power than itself can accomplish its ruin.
1t will pass out of mind and memory in the
politics of this country, if at all, by its own
hands. 1t has the power, as well us the privi-
lege of accomplishing either of these results.
Whatever in the near future awaits chat party,
let it not die for want of courage.
The committee rose without action on the
bill.
The Senate amendment to the bill appropri-
ating $40, 900 for scales required in carrying out
the law for the prepayment of postage on news
papers, was coE CURED in and the bill was pass
cd.
Mr. Garfield of Ohio, made an effort to have
the adjournment until Monday next, but seve-
raj votes showed a majority of the House
against it. Adjourned.
WASHINGTON