The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1874-02-13
FOrtj Third Congress- First Session
SENATE.

Iudian Committee enquire inlo the expedi~ncy
of reporting bill reimbursng the citizens OF
Oregon for damages by Indians. He address
ed the Senate in favor of bill denouncipo the
Modoc's, and saying that the insolent defiance
OF Capt Jack and his band could hot be toler-
n na, ne said the people of Oregon We're op-
Poseu 70 the peace policy towards the Indans,
ta ne OIL was referred to the Indian Commit
VEL nne caeuentials of III. r. Peace of Mississippi
VIE Teap Sem.sa and he was sworn in
bill to equalize the Distribution of cnrrao' '
pending amendment being Merrmon's ;ne
sert rs in place of 25 W III
Mr. Buckingham spoke of the patriotic &C.
tlon OF New England during the war in sendino
both capital and men to aid the government =
| His own State furnished IL 2 per cent. mors
than her quota of troops as well as capital, and
IT "ou'd certainly be an act of injustice for the
| West now to take from his section that capital
| which she had earned
Mr. Scott favored the passage of the bill as
reported by the committee. He defended the
national banking system and opposed any in
crease in the volume of currency.
MI Allison said that while Congress could
| Dy law take the circulation from New England.
there was spirit of equity against withdraw
ing theeEhole S75, coo from that section.-
| DE lAllison) favored the withdrawal of S25.-
900 600 from other sections. With this modi6-
cation he would favor the passage of the amend
ment.
MIR. Merriman said in offering the amend
| ment he was not moved by any feeling of hos.
tlIity toward the Eastern States. Ii they had
wealth., industry and enterprise he rejoiced in
tne 1act, but while be rejoiced at the advanta
| ges enjoyed by that section, he wanted
them extended over the whole country. If
| Congress would allow an increase in the vol
ume of currency Re would yield the point he
was now concluding for, but not otherwise.
HE argued that redistribution would be very
| gradual and that the business interest of New
England would not be injured in the least by
the Withdraw al; the demand from the West
would be slow and that frem the South slow
er, so so chat several years would be required
to withdraw the whole. He would like to see
the volume OF currency increased $1,000 900.
He believed the temper of the Senate was for
an increase, and to test the question would
withdraw his amendment and move the follow
ing as substitute for the bill as repoI ted Nv
the committee. Strike out all after enacting
clause of the bill and insert that $46, 600 900
in notes shall be issued to the Natanal Bank
ing Association now organized or may be or
gained, in addition to the present circulation
under the same rules, regulations and imita-
lions as now prescribed by law"
Mr. Sherman appealed to the Senators not to
endanger this bill which was intended for local
relief by taking onto it the great question of in
flation. Let the question be met fair aud
square and decided. 1t was one of great i'm
portance and would determine the prosperity,
happiness and glory of our country. He was
opposed to any increase in cdrrency and the
question of initiation or not could be determined
once and for all so soon as the naval appropria-
ton bill he disposed of, but now he hoped this
bill would pass, as it came from the committee
so that relief might be afforded to those sec
tiOns needing it,
Mr. Wright said he was opposed to the sub
stitute of the gentleman from North Carolina
tMr. Merrimon) as it allowed banks already
organized to take up the increase. and it would
not therefore relieve the South and West. He
(WrighD moved an amendment to the bill as
reported by the Committee to strike out the
words twenty-five" and insert fifty so the
amount of the circulation to be Withdrawn and
ressued should be fifty instead of twenty-five
millions, and upon that question he asked the
yeas and nays. He said if there was to be an
increase in the currency he would prefer to see
that increase in greenbacks and not in national
band notes
tors OH this floor wanted contraction, let there
be vote. Those who favored expansion would
acquiesce in the result and there the fight
would end. But if on the other hand a major
ity wanted an increase let them have it. He
wanted no deception in this matter and hoped
the friends of more currency would stand by
this proposition for a moderate increase 1t
would be an entering wedge.
Nj. Ferry of Michigan agreed with the Sena-
tor from Illinois (LOgan), and he hoped the
friends of a moderate increase wsald stand by
this substitute and settle the question whether
| We are to have more currency. He was in IA
| vor OF the government issuing the whole
amount OF the currency but would not stand
more money. He was opposed taking single
| dollar from England. Let them have their
meuey, but give more to the West and South.
| The panic had not ended. Its blaze may be ex-
tinguished, hut it still smonldered and it was
ready TO break out again. He was not to be
frightened from his position by threats that a
| substitute would kill the bill, and he hoped the
friends of the increase would stand firm and
| make this a test question.
Pending tine discussion the Senate at four
O'Clock proceeded to the consideration of the
| executive business and after short time ad-
| jOurned.
Among the executive documents submitted
by the speaker were the response of the Secre-
tary of The Treasury to the call for informa ton
| in regard to the amoon, paid for compromises
| OF suits growing out of frauds Of New York
| and Boston custom houses. The document was
| we're vouminous and was ordered printed.
| The bill authorizng the sale of the military
reservation of FOit Reynolds, Colorado, con-
| tanning % square miles, with the government
buildings thereon, in tracts of 80 acres. at uot
not less than S1.2O per acre, was discussed. At
ter amending the bill 50 as to require three
months advertising, it was passed.
| The bill making it the duty of the Secretary
| of War to frequently inquire into the nature Of
payments by discussing officers of the army.
| was passed.
A bill was passed authorizing the Secretary
OF War to deliver TO the State authorities Of
Rhode Island gun marked "Battery 1, First
Regin ent Rhode Island Light Artillery, battle
OF Gettysburg" to be placed among the arch
ives of the State,
A bill governing leave of absence to any Off
GERS was reported and passed.
The House went into Committee of the
Whole on the fortification bill
The items of $4,000 each for Forts Foote
and Washington, on the Potomac river, were,
on motion of Mr. Starkweather of Conn,
struck out. The items for Forts Moultrie,
Sumpter and Pulaski were retained, notwith
standing the efforts of Mr.. Storm. The ap-
preparations for Fort McHenry, D opposed BY
Mr.. O'Brien, and Fort Jefferson, Fla, proposed
by Mr.. Watts, were refused.
The Committee rose and reported the bill to
the House and it was passed.
The House again went into Committee of the
Whole, Mr.. Wilson of Iowa in the CHAIR on the
bill to repeal the stamp duty or tax matches,
nd Mr.. Dawes OF Mass, chairman of the
Ways aud Means Committee, proceeded to ad-
dress the H Ouse.
Mr.. Dawes discussed the pending bill and
thao for the repeal of check stamps together
The total on matches last year reached 80, 500,
600, and that on bank checks 81, OOO, OOO The
Commissioner of Internal Revenue estimated
that the repeal would require to refund half
million to those who holding stamps for bank
checks and like amount for stamps on matches.
So the question of repeal involved SIS, 100000.
1uC OCCICodly VI buc Treasury HdQ OH MANU-
at the commencement OF the fiscal year over
$3.50, 000,0 600, Of which some $7O,OOO,OOO was
held in trust; leaving but SCI, 1000 600 belonging
to the government as its total available funds;
or $4S,OOO,0 900 gold and nearly $12, OOO, 900 cur
rency. The receipts from July LIST, 1878, to
Feb. LIST, 1874, were $165 677 1913, and the esti-
mates for the remaining five months of the
| year were $116000,00O, making the total
| available income of S281, III, 97s. The expan-
| ditures to Feb. 1st were on account sinking fund
$l2.936, 45O and appropriations. SIT, ia, 5S5.
| The liabilities were unexpended, balauce of ap-
preparations, $13S ,3S1 $751; interest on public
debt, $41, 2S666l accrued interest, $685.. All,
besides estimated expenditures on account of
| sundry. indefinite and permanent appropria-
| tons of $685., 600, which, with some additional
| figures not clearly understood by the reports,
made the expenditure of $685., SAC, $50, against
an available resource of $341, $50, 201. So if the
| government should be called upon during the
year for all appropriations made by Congress
there would be, at the end of the year, deficit
| of $52 ,065, 449.
| This represented the condition of the treasu-
| ~ on paper, but there was no probability the
| treasury would be called on to respond for all
the appropriations Many of the items came
under the head of permanent appropriations
which, although made over two years ago, had
not been covered into the treasury A careful
revision of all those outstanding appropriations
| aggregates 72,369034 Assuming that the