Evening star. [volume] (Washington, D.C.) 1854-1972, 1874-01-23
EVENING STAR.
COl'GRESSIO.V.fI.
Conclusion Yesterdays rroceea,n,

SENATE.-Aftrr our rrport closed
NT Bp-twtl discussed generally t4e haaa-
eisl problem. he sad the tNilare o. = great
Lonse N september last had not ca1-ef tue
fanic, although that Wa seized or ~ the o,sa
son. he panic resulted frots orr svstsn u
icing u-in's~, aut the concentration o. 80
S'f'ht h Sew York F-r her nfAficn would
De followed by another Panic. He re Gated
.hai ne Nas EoN opposed 20 either CONTRACTION
o y hAton. lie Thought that the sut 4ortt, q
the Treasury % use the ortv-fonr n, 10, - '
never should have been questioned ms A.
bate. be thought. should settle Il. The 'eaaF =
ueft, m Usirs \ portion Of the reserve. had ione
- Vifh fle view that n should not be alowet .
remain permanently IN the volume % the cur
cu.stoE. In answer 90 . question OF Mr.
SchutT nc saic thar he held that the three hun
dfto Aid rity-s'N million vas the limit OF per
msn,nt circulation, and that ~ using the re-
serves hen the public eSieencies demanded a.,
u VA the duty OF the Secretary 70 return % the
''mit OF three hun dred aud ~ y-siS millions n
the earliest practicable moment Since the
a'ig OF september last the Secretary had ussa
about ~ en'y seven millJIs ~ the reserve O. be
understood that thus Wss ~ Essentially whst VS.
done by the government OF Great Britain At
times through the Bank ot England, 10 wasA
EitAt rtSiVus hil'y, bat q must be taken, tue
creisry. heirg clothed VITA this authority.
could not 80 stil and remain inactive While
wido.T read ruin threatened the coua-
Try, brought about ~ causes Tor which the
Foyert uout VAS itself mainly responsible.
lie compared the GOLD pr MUM from 1855 %
tle present. tine. and said that II showed We
nave mace steady progress towards fedcmp-
a-n. he looked forward 20 no distant day
when coin and paper would De equsized. ne
Indicated he view That any decisive policy n1-
in'kl 90 REDEMPTION would be traught with
dHhkel. Tie would do what he could 20 hel the
R'Netnuieut OF he country q it, present policy,
u'lt ~ thai either contraction or ina alton
would ht attended with tie most evil Pe-uit.
10 discussing some of tIe vsrfous rIapg snb-
mit-td TO remedy existing financial evils, he
expressed dl.aFrrvNsl oi that presented BY has
90 league. Mr.. summer. q and or,i,ossl ne ~ "A
ing o. solution from the nance Com u,fttae anf
si-o COZ s'd'red the possible result from imme-
n IT Ia HHFrH.s TO- D
that the by~t and wistst method vas tor the
lrts NJ, 90 avoid all legislation on tie subject
10 re is hut one 10 mtdN ty which We can ward
OF the evils that threaten ~. and that i nv
TAXATION. and before putting disgrace upon che
people Of this country re would put burdens
a. be felt that n would be disgrace 20 20 into
the markets OF the world a. THIS time begging
for loan.
Mr.. BoatVelI, having in the course OF his re-
marks referred 10 the prosperity OF the south .
NT. Gordon denied that such prosperity "a.
isted. ana quoted from the statistirs 20 prove
that Tie wealth OF Georgia, the most prosper
oUs OF the cotton growing states. was nffv-thres
milliCns less than IN lSGO. he said that tie
fusnCa system OF the country had brousLt
ruin upon the agricultural regions.
Mr. Boutwell,. on concluding his remarks
vas congratulated by number OF senators.
The Senate then tst iojl .. M adjourned.
HoJSE.-Atter our report closed, pending
consideration Of the West Virginia election
cases, the House, az $50 I. m, took recess TIL
- O'Clock.
The attendance at the evening session was
even les than Wednesday night and there wAs
lengthy discussion upon the section OF the
revised code OF the United States LAVE IN relR-
ton % the clerks m the several executive de-
rartments, the committee holding that ehere
were no g neral avs flying the number 20 be
employed, the number being Ned wear BY wear
bN the appropriation bills, and advocating IN az
only the chlet clerks, disbursing CLERKS. &c, he
fixed bv the general statute. leaving the Ordi-
nary clerical force % De a. listed a. EeretOfO ore
~ the aYproVriati bills.
After turther discussion OF the bill the House,
AZ % 2. IN, adjourned.