Connecticut western news., 1874-01-30
XLIIId CONGRESS-.
70 -17| SENATE.

Institution on the part of the Senate.
 1 Eulogies were pronounced on the late James Brooks and ". D. Foster, and resolutions of
 Mir. Ferry, of Michigan, said as he shared in the public anxiety that the Senate should act on the question of finance immediately, he proposed to modify his substitute for the reso- lution of the committee, so as to narrow the subject down to & moderate increase of the currency. He, therefore, withdrew the sub- stitute formerly presented by him. and sub mitted the following
 That the Committee on finance be directed to report to the Senate, at as early day as practicable such measures as will restore com mercial confidence, and give stability and elasticity to the circulating medium through a moderate increase of the currency"
 Mr. Freinghuysen presented a bill to secure resumption of specie payments without con tracing the currency, and it was referred to the Committee on Finance. It authorizes the Secretary of the Treasury to issue $225, 900, 900 of six per cent. ten-forty bonds, to be disposed of from time to time, for tue purpose of pur- chasing $2OO, ,o0o 900 of gold coin, with which to redeem legal tender notes of the United States; and it shall be in the discretion of the Secretary of the Treasury, so soon as he shall deem it OK pedient, with such amount of gold as for the time being he may have procured to commence and continue the redemption of legal tenders. When redeemed they are not to be reissued, except in exchange for gold coin at par and when 80 reissued they shall be redeemable in gold coin, but the total amount of legal tenders outstanding and redeemed shall at no time OK eeed $356, ,O00 900. The bill further provides that if after commencing said redemption the Goverr ment shall be unable to redeem part of said legal tenders in gold the Secretary may redeem them by exchanging the aforesaid bonds at par for them. ..s-. -.,.+ya
 memorial of the New York Chamber of Com merce calling the attention of Congress to the lnett1ciency of the merchant marine service of the United States. 4.
 The resolution from the Finance Committee was discussed. MT. Schurz delivered lengthy speech in which he urged an immediate re- sumption of specie payments, and opposed an imitation of the currency.
 Caleb Cushing's nomination to be Chief Justice was withdrawn by the President.
 In his reply to tho Finance report of Senator Schurz, MT. Morton, of Indiana, said " The United States could not be guided by the ex- perlence of England in the matter of con traction. There was hardly man living five miles from bank, and most of them lived in towns and villages in sight of banks. The facilities for bank credits there were much greater than in this country, and there was not the necessity for so great Q volume of cur rency; England, with her &, ,o00, 900 people, States, with her 40, 0oO, GOO people, had only $500, ,000, 900 currency. He did not thlnk our currency redundant. It had been argued that We had built railroads too fast. He did not be- lleve Senator on this floor would say his State had one railroad too many. Probably sometimes they had been built in advance of settlement, but they were always the pioneers of civilization. He desired to again state that the recent panic ill our country did not spring out of any defect in our currency. The cur rency did not run down during that panic, but on the contrary increased ill value. He saw behind all this contraction argument the old State banking system looming .up
 Mr. Howe, of Wis. introduced bill for the withdrawal of irredeemable national notes and the substitution of redeemab1e national bank notes. 'it%t eE+-'''
 Senator Conkling of N Y., presented of the New York Chamber of Com merce calling the attention of Congress to the inefficiency of the merchant marine service of the United States &g looking to a resumption of specie payments, was discussed. Mir. Schurz delivered lengthy speech Ill which he urged an immediate re- sumption of specie payments, and opposed an imitation of the currency.
 Caleb Cushing's nomination to be Chief Justice was withdrawn by the President.
 Mir. Logan, of Ill.,. introduced bill relating 10 retirements from the army. It proposes to make 1t obligatory upon the President to re- tire any officer of the army or Marine Corps except the General or Lieutenant General of ,he army, whose name shall have been borne lpon the register 45 years or who shall be 62 years of age. ,t ..,
 In the financial discussion, MT. Sherman, of Ohio, said that on June 30, 1869, the legal enders outstanding amounted to three hun fred and fifty-siX million dollars. On the list of January last they amounted to three hundred and seventy-eight millions four hun ired and eighty-one thousand three hundred md thirty-nine dollars, or an increase in the orm of security of twenty-two millions four hundred and eighty-one thousand three hun lred and thirty-nine dollars. The fractional currency, which in 1869 amounted to twenty even millions five hundred and eight thousand ilne hundred and twenty-eight dollars, now amounted to torty-eight millions five hundred md hfty-four thousand seven hundred and linety-two dollars, being an increase of over wenty-one million dollars and again, the na- ional bank circulation had been increased from wo hundred and nlnety-nine millions seven hundred and eighty-nine thousand dollars to hreeS hundred and thirty nine millions eight hundred and eighty-one thousand dollars, nakmg the total Increase on the currency over
 ghty-two million dollars. He argued that it lad been practicable during the last four years 2 advance our notes to specie value. If not vhen would 1t be '? 'ss~z @-- e-1
 HOUSE.
 The Education bill was discussed and post ,oned till March.
 The Senate substitute for the House Salary Jill was passed by 226 Yeas to 25 Nays
 new rule, requiring that all bills making | shall be first considered in Com i nittee of the Whole, was adopted.
 Supervising Architect Mullett has recon- nended to the Post Office Committee the orfeiture by the Pacific Mail Company of the dditional subsidy of $500, ,000. Y,
 MT. Cox, of N. Y., quoted from the Afvpv 'td NdUy Journal ill corroboration of a state 1ent which he had made before the holidays, hat New York was at the mercy of foreign 'on-clads and remarked that it's only protection 'as ill a refined system of torpedoes.
 MT. Kelley. Of Penn., also stated that when ne ship Cathedral could not get into New ork she had to be sent around to Philadelphia nd to have her cargo discharged there and ent to New York by rail
 bill relating to United States courts was assed qualification of the statuets was re- orted, and 1t was agreed to hold two evening 'sslons week for it's consideration.
 MT. Smith, of N. Y., from the Committee on lections, reported resolution declaring essrs. Wilson and Martin entitled to seats om the First and Second Congressional lstricts Of West Virginia, and & minority re- 'rt t was presented by MT. Hazelton, of Wis !; Ihe consideration of the Naval Appropriation II was completed and the bill passed.
 The Committee that went to New Orleans to yestigate the charges against Judge Durell slieve that he will be impeached. - Mr: Cox, of N. Y,, quoted from the Arnty ] ld NGcy Jot"ndem corroboration of state- ent which he had made before the holidays. { at New York was at the mercy of foreign T 'n-cla Is, and remarked that it's only protection .s Tn refined system of torpeooos E Mr. Kelley, of Penn.. also stated that when ' ship Cathedral could not get into New | 'rk she had to be sent around to Philadelphia d to have her cargo discharged there and | nt to New York by rail. I bill relating to United States courts WAS 8 ssed qualification of tho statutes was re- rted, and it was agreed to hold two evening o sslons. a week for its consideration. Mr Small, of N. H., asked leave to offer a 'olttt1on, instructing the Committee on preparations to inquire and report how many rses are owned and maintained by the Gov, 1ment of the District of Columbia. the pense and uses of the same, and who use shl; s, ana whether they are required for the bllc seryice and also, as to Carriages and F od with such horses '''N b hr. Dawes, of Mass, from the Committee on Q tfilers for amounts paid by them in pro- II ring Tice meters, by order of the Internal 0,