New-York tribune., 1874-12-11

that with the gentleman from Ohio Cdr. Garhed), he
rcioiccd that the hands Of Congress were being
stayed up in the effort, had 'ne COURAGE ,avs Of
trade. Tne effect OF the pending Dill however was 70
perpeiuae the present con Sn ne prsecdes de.
monstrate that 1t would Increase the putuen W
10 the Government He also argued tnSt d = nov
five per thirty years bond paynDc ~ eon, no~ ~
worth only par in the market, 3e5 thriy yeaa sDa p
bonds would be worth only 81 per cent anu cent less
lie characterized Mr.. Ksleys ideas as the SUD, sup
gsi % Of sp pSicai economy that bad ever sent
abroad the from the House, and sBggetted tDat
fool enough to them for C5 per
bonds As TO bis colleagues assertion that n took tour
Atlantic seaboard he (r. Dawes) had referred TO the
price current aud found that corn In Chicago cost 70
cents q bushe aud that the TRANSPORT 'ton from
Chicago to the seaboard only from 20 TO ~ cents
bushel .,,- ,,.o ...n,
Mr. DAWES passing from this point and touching on
Mr.. Buffers allusiOn TO the savings oi the mssaenn
drawal from the banks proceeded TO argue that tne
direct and inevitable consequence OF the o
of bringing relief By apprecating the greenoack 70
golJ would sink 10 and Is cent aud thereby
purchasing H power OF his days WAGES, and
cut down his now scanty loaf Of bread.
as gold to-day. II the Government would pay II when
presented and would be worth a' much as gold
uut the Government did that. Let IL do that ana All
the rest would follow. Another way TO bring the green
back up to par was TO make scarce oy OK
os creenhacks into god-bearing bonds. Then n any
legislation should dssas bank m e. S the
should go the wall they would ~ there WITHOUT 1853 10
the holder and without dishonor 10 the Government
Mr PHELPS Qsep.. N. J) also argued against tho
pending measure He argued that nnS,"ag ,d y cur
reney was bad currency, and one mat could ohy nd
the Government aud the people, ana that IL W s
for the Government TO redeem is honor ana inln us
promises by borrowing money. It would not be nocs
sary borrow such an amount as wo"m pa,ao9 a
hon ad been
OF money sufficient TO satisfy anu ho1t aTee po
when III it. had currency unequal to par when
it could that by borrowing money anu tSuee
ner for the Rehabilitation OF National honor and for
giving TO the people currency equal 10 the monty VI
Mr. KELLEY CRep., Pcnn)-Do you relieve yourself OF
debt by borrowing money to pay itf Ihae tue hc"
MIR PHELPs-The gentleman from Pennsylvania fails
to make the distinction that Is generally made ia thc
minds all business men, and wDich was even ade py
Mr. Mcawber whom would not cite as tue very peat
illustration OF prompt business man. u ha.e ool
rowed money for years aiD not insoyent anu nave
not broken my promises and am not IN the hands OF my
creditors until the ten years have expired ana tne pay
ment OF the debt Is dcmanded But nave po,nn'shn pn ,h
to pay day after date aud the day has come ana he
promse Is brought to me for fultlllment am
have broken my promise; oui ,no Sd ,anre
am In the hands of my creditors unless theh auu
ernment to do. ask the Government to ray the prom
ses that it made II years ago. to pay these krsens
on demand dollar for dollar aud ASK the do'ernbent
to do so by borrowing its bonds, payable 90 years
after date money with which to pay It's present lndey
the currency equal money, aud tnat Ia 10 follow that
straight narrow path, which 10 the pain OF hohesy'
The Government must pay It's debts when ey ave Que
Then alone expect TO be again prosperous ahu
happy and hoDOred nalfon ., ,. l..
Mr. SMITH (kep., n. " declared himself opposed 10
all iutatlon in OF the resumption oI specie pay
ment by the Government at the earliest moment pos
sible Without serious disaster and opposed 10 an expan
sion OF the currency. There features In the
pending measure which Impressed nim iaV0raDy, pus
taere were very grave objections To II. There was
ilmitabe expansion It, because these bonds OF sma
demo- ominaton would circulate currency. In ofder 10
guard against that lie would move 10 amend the ul ny
making the lowest denomination OF bond sl,OOy.
At the close of Mr.. Smiths rcmarks tue COminittco
rose without action on tue Dill . -, ,.
On motion OF Mr.. TYNER (ser., IndD, the Senate
amendment TO the bill appropiiatlng sjO0O ior seaies
required in cary Ing out law for The prepay nent of
ne W spapers was concurred in and the bill passed
Mr. GARFIELD (hep, ONO made an ,HJft 10 nave
m adjournment until Monday nc1t, but several xoIes
shaved n majority OF the House against III Mr. BUTLER
remarking tnat Mr. Girfes object was To prevent the
action of the House other subjects tBan te appro-
priation bills. -. o.r, ,or
An effort to have t0mOrrow's session set apart ior
debate only was also successfully resisted ,.
Tne SPEAKER announced the following appoint
ments to NIL vacancies oD Committees:
On Arkansas AraIrs-Mr. Scudder tRep., NJ a.
Juiiciary-Mr Finck (Dem. Ohlol.
evils service rm--Mr Chittenden (Dem, y. ~
Centennsl-Mr Schel tDtm, n "
Invalid Pensions-Mr StrswOrdge ltep Penn)
Education Labor also expenditures in the Naval Deparfue"
| Mr. Carpenter tRep ;. CD
The SPEAKER also announced that by the operation
rule, Mr.. Harmer (Rep, Penu) succeeded 10 tne
chalruanship Of the COMMITTEES On the D,trlct OF
Columbia, Instead of Mr. Hale (isep., n. " resigned.
The House then, AT 3i5 p. m. joufne'L
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