Evening star. [volume] (Washington, D.C.) 1854-1972, 1874-02-25
EVENING STAR.
-CO1-GRESSEO.r.SL.
Conclussea Yesterdays PreceeSs.

SENATE.-After our report CLOSED
Mr. scharI continued and pointed out thai
European investors would be 10th % put their
their money out IN the United states when
.hore Was = prospect OF an ine. zion OF the cur
reney BY winch their capital would inevitably
be deprecated.
ron and Mr. SehurI on tins subject
cameron asserting that the Americas
fectie were a. honest as any people 10 the
Setld, and paid their debts readily, snd AZ
no tore gnef bad lost any money on real estate
mortgage loans In this country, and
MT. Schurz explaining that he threw no dis-
but that 10 vas the dishonest system OF paper
money that he complained OF. and which low
cred our credit In the markets OF Europe, Is ne
hsd found during his visit abroad last summer
he claimed thst he had much more the honor
ano the credit OF the American people At heart
Thar those who were striving % perpetu ate AMI
aeersvste such disgrace as an irredeemable
Mr.. sherman interrupted to cali attention 90
the Tact that in consequence OF the flucta.tioas
OF cur paper currency al American loans nov
negotiated abroad had 90 be made PAYABLE in
gold, both principal ana interest. ne conn.,
mefted At rome length on the new school which
hsd grown up on the door Of the senate, OF
whom he pronounced Mr. Morton To- be the
lesctr; those who secuted the theories OF al tue
siRHcATd writers on political economy OF the
nsst OF the pres nj, " no styled them theorists.
sue Nho, m the language Of the Senator from
ihnians, said throw theory 60 the dogs Well,
ne Vas afraid that 10 throw theory 90 the dOss
noulu tee TO throw the honor and prosperity OF
me country 10 the dogs. He hoped God woald
forgive those who stood up aud proclaimed as
the enemies Of the poor the men who posed
,he ls' ne OF any more irredeemsbie paper cur
sehCN. ~ lhnSing the currency it would ps
Gel ieclSt'oi thus the products OF the Ind aStrV
81 The Ioor would lie deprecated.
MT MOI ION said he could not now re expect
go 70 reply 10 carefully prepared speech
which IL had evidently taken tue senator
weeks TO prepare. But he would say nos mat
u wss an exaRgeratiOn. The Senator hnd at
7 All fhas A.
Morton) had deTided the theories Of an the no
hticAl economists. This Was not 80. He had
deTided the application which had been sought
90 be made OF these theories. L. very essy
10 come from the books aud then make q speech
which the thoughtless would look upOn a. VERY
wire. He was what in French was called a doc.
trlnaire he got all his theories from the books
There were others who had also studied the
books. which were accessible 20 them a. TO him
and they had been, perhaps, ct one time, quits
a. much fascinated with them y. the senator
But, as said by the Senator from Massach usetts
(Mr. Boutwell,l these books not cOSmo-
politan, but national, and the theory which
would apply to the countries of Europe would
not apply 90 the United States. The remarks of
the Senator may have been rhetorical, but he
showed plainly that he did not comprehend
what ne was talking about. The Senator had
spoken of friend in Germany who had written
20 him inquring as 20 Investments in the int
ted States. He asked the Senator what reply
he had made 90 his friend?
Mr.. Schurz said he had not replied vet. Bat
be intended 20 write his friend 60 keen hts an Onev
while IL was uncertain whether there was TO be
lnhation' but as soon As he found preparations
for specie resumption being made, not only 90
send on all his own money, but 10 induce his
friends TO do the same, and TO pile IL mp moan
tain high.
Mr.. Morton said the Senator'S friend would
gain great deal OF Information sy such A re-
ply as this. IL showed that the Senator knew
nothing At all of the country in which he lived
and which had done him so much honor. In
reply 20 the arguments OF MIR. Schurz ne said
that il WAS an abundance of money which cree
al eanfa md ralaf ~
widest speculative era that had ever been
known in England took place with a specie
currency He replied 70 some of the srga-
ments of Mr.. Schurz, which be characterized
81 stuff, taking a. a sample his comparison of
the people of Africa 20 the people OF the United
States. When the Senator compared our cur
Tency with tina. OF France, trembling on tbs
verge OF revolution, he should, Just as did the
Senator from Michigan. (Mr. Chandler in
comparing IL TO the Confederate currency, an
utter confusion OF ideas. Our currency was the
best in the world. We owed now In Europe
about thirteen hundred millions, nine hundred
millions in United States bonds aud -four hun
dred millions in railroad ard other securities
IL took about sixty millions annually OF gold to
Ray the interest on this debt, and this exceeds
the annual product of our mines. While this
state OF things continues IL would be very diei-
cult Tor US TO maintain specie payments So IL
Il with Russia, Austria. and Italy. and AT the
countries whose debt TO any extent is held
abroad They have al suspended specie pay
meIts. When the country Is in a normal con
ditiOD, then he believed we could have specie
ayments, but he did not believe now was the
time.
Mr.. MerrimOn obtained the floor, but gave
way TO
air. Sprsgue, who reported from the Com
mittee on Public Lands, the bill 70 extend the
time for the completion OF the Western Central
railroad.
The Senate then went into executive session,
and then adjourned.
EoC SE.-After our report closed
Debate vas continued on the ranking priyf-
lege 81 some length. Mr.. Cobb Kan.) obtained
the floor, and viii speak when the bill next
comes up.
Mr.. Kelley, from the Committee of WAYS and
Means, reported back a bill referred 60 that
committee in the morning directing the Secre-
tary OF the Treasury 20 suspend the payment OF
all duties heretofore paid on imported fruit
until legislation by Congress shall authorize the
same, or until court Of proper jurisdiction
shall make a decision on the same, and the At
torney General shall certify that there will be
no appeal or writ OF error from that decision.
Mr.. Randall moved 10 strike out all relating
to the Attorney General. Adopted, and the
bill passed.
MIR. ShaDks offered a resolution, which WAS
adopted, directing the Committee on Indian
Affairs TO investigate and report upon the status
Of the Indians within the limits OF the United
States and territOres, as 10 their citi zens hip
under the constitution, with such suggestions
AZ they may deem proper and just touching
their titles 20 land and other property under the
treaty supulstions and the laws OF the United
States.
The House then, at p. m, adjourned.