, 1874-04-07

executive buslneua. Rojootcd-yoaB 25 nays,
8o. Tho question waB tllon takon on tho subRti-
M s,to Of hl9; e. Sherman, and 1t "aB ro1octed-goae,
Ar. B0nunz ofrorod tho following as . sub
stituto to tho bill agreed upon in Committee OF
tho Whole:
"And tho soorctary Of tho Treasury ts lloroby
%ss%am ssat m adnn n"o e sS sssS9a1 Ga ha saaa s
noton, TO take such raeasurcs nB Will not fall to
prevent my additional tgauoB OF such notos from
falling into tho hnnas Of spoeulatota and stoek-
s IF '1 sfesn ss ssnn'y sses s 's t from ho f's Mi
cause such additional Issues. OF Legal
distributed among tho people Of tho WoHt aud
South nnd a,osl.en When any c9mnunity ~ tho West
tho Secretary Of tho Treasury will furnish them
m ample supply OF Uaitoti States bonds on
which they may obtain thoir Nationa-Danls cur
ronoy; and tho Secretary Of tho Treasury ia
not deprociatcd by expansion, hut TINT It be
elastic {n volume, aud strictly stable in yaluo
Or, Il that cannot be accomplished, he will 80
5udcionBy arrange tie depreciation OF the cur
oi aa largo, IS possible part Of tleir burdens,
Tfailo oroaitors shall not suffer any loss
but tho Secretary will tako care that, among
tho dobto1s 30 bonontcd, slnll not DO those
involved themselves In hoayy labilitios, and who
now m desire to pay Q leaa yalue than they owe.
Tho Secretary Of tho Treasury will take especial
caro- TINT tho laboring mum and mon Of ANAL
banks, National and staio banks, aud employers
owe over 81 900 In dopositn and aupnld wages,
do not suffer any loss in the valuo Of euoh debts
due them, and tho 250,000 maimod soldiers and
Of pensions annually, bo not robbed Of any part
Of tue value Of such pensions through such
depreciation Of currency, md tho Secretary
Of the Treasury is further directed to inquiroon
Hrnk kt4nT1E7 nft all,
oy as between England and Trance md tho
United stntes, and also In tho different SsatoB
and Territories Of this Union, and wllethorevory
discounted at conveniently low ratio Of inter-
oBt and If ho tinl8 that suoil is not tho case,
the Secretary Of the Treasury ia hereby author
igcd to make further additions to tho currency
until tue circulation per capita, as aboyo Ia fair
Y. ,eqaa!zoa, and until every citizen Of the
Unitod States can got his notoH discounted
Mt aueh rates Of interest as ha desires; aud the
Secretary Of the lreasury will steadily continue
such addition to tho currency until every citizen
Of the United States has enough and until tho
country Ia entirely reliovcd Of its prosent public
debt, nnd of any further necessity Of borrowing
money abroad for tho construction Of railroads
aud other public improvements, 30 that ai] III.
torest now paid on auoh debta may he kept at
tary Of tho Treasury shall forthwith resume
Bpecie-paymenta without any shock to Tho bust
ness Of tho country. [Iaughtor.l ..-.
The CHAIR ruled that the substitute was not
Tho amendments m.do in Committee Of tho
Whole were thon conourrod in without divis-
ion-the question being, shnll tho bill bo road
third time? aud passed.
out md keep cut tho whole S44, 100000 rcaorvo.
It proposed to put out and keep cut irrodoom-
ablo bank-paper. Temporary relIot cnme from
It. but il would only smooth tue way to diRastor
the experience OF every epoch Of History.
tramplod upon and violated tho faith Of
The nation. Eyory department Of tho Govorn-
mont was pledged to redeem this paper, bositlea
the declarations Of national conYontionH Of that
political party which cloao most Of the Senators
upon this floor, as we'll aa tho Chief Magistrate
Of tue nation, who WAS also ploagoa against this
policy. - -
against Tho passage Of tho bill.
hlr. THURMAN enid, after a TOW months' do
liberation, the dominant party in this Senate,
In disregard Of tho Recommendations Of the
Chief Magistrate, in disregard Of the recon-
1nendation Of tho Secretary Of the Treasury, aud
a2:t ad aaopEsS maasaro m
proposed by one Of the minority. Tho groat Re-
publican party had adopted measure Of a
Democrat. Ho (Thurman) could tako no credit
IN thia triumph which his Democratic friond
from North Carolina (Mctrimon) had achieved.
Aitor At a.; all their diaonsson i was resorycd
to elnpe tho financial deBtinica Of this
country. Hc (Thurman) beloved It would
diabana, tho Republican party, though
he could not Say the one to which ho belonged,
The action Of tho sonate today, simply iuoant
that no man Of his age would eyor again 200 in
this country tho money roforrcd to by our foro-
fathers and framers Of our Constitution.
department Of tue Government to set tho right
wrong which had been done here. This Admin
istratfon had been eleotod upon pledge con-
tfary to this BILL. He {sargenD believed thoro
were men enough in tho East and in the West
perish, WHO attempted to flood tho country with
hrr. sOHul,z said ho folt humiliated "a an
American citizen at the action Of to-day. Con-
solves benefited, but the day was not far distant
when they would curse the hour they gayo such
avoto. Tho day was not far of when the poo
pie would recover thor senHes, aud savo them
selves from these statesmen who would lead the
Mr.. CARPENTER said lie only arose to Say
that those upon hia Hde lad agreed among
themselves to romnin silent In order that there
might bo vote. They had resolved to say noth-
ing' re ana when amitten upon one ohook to turn
Mr.. FLANAGAN hoped the bill would be
vetoed, and said sucti action on the part OF the
Presldent wonla Mn,n but Rdd to his groat famo.
AA4s Ao4t4oA 6AAA tl1oIO HDulu uD I'LL QppCT~
tunity to reply to these most extraordinary
speeches, and ho would avai1 himself Of 1t, but
for tho presont ho would forebear,
The bill WIS then roada third time and passed.
--yeas 70; nays. Aus follows:
YEAS.
Allthon, Hitchcock, rattcrsop,
Yogy, Ingalls,, psasc.
1orenlent JolnRton, Pratt,
cameron, Lewis, RArnaey,
Carpenter, Loghut Robertson,
Clayton, b1eCrccry, Eroneer,
Dorsey, Merrim0li, Tipton,
Ferry tMich.)t Norton West
Goldtlwae, Norwood, ayndom-a9.
Harvey, 0gtesby
NAYS.
anthony, Hager, Sargont,
ohnnaleEt Hamilton {hld.s, Balsbury,
Conkliug, Hamilton ffex.}, echurz,
Cooper, Ifanl!in, Hcott,
CrnRtn, Howe, shornlan,
Davis, Jones, Htewart,
Fenton, Kelly, TtiurfnAn,
Ereliughuyaeu, Morrill, VIII Wadloigh-24.
Mossrs. Gordon, Brownlow, Mitchell, sprague,
oonoyer, Nanaon, and Wright, who would haye
voted for the bill, wore puired with 3leasrs.
E1rH TMAn