Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-01-23
CONGRES SION Al.
Boutwell, Opposes Either Initiation
or Contraction.
He Wants Specie, but will Wait
for IL to Come of Itself.
Responses from Schurz and
Gordon.
The House Attempts to Fix Green
backs at $4OO,OOO.OOO.
SENATE.
Susan R.

DackS dI ptOO,OOOsOOOs
SENATE.
Susan r.
WASHINGTON, Jan. 22.-Mr. Sergeant
a long petition of Susan b. An
thony relating the circumstances of her
and voting in Rochester and
her subsequent Indictment and trial for il
legal votingsefore Judge Hart of the Uni
ted States Court, stating that her trial was
not fair one and her conviction in viola
tion of the statute, and asking that the fine
imposed on her be RENTED.
Vieixsburg's War Claim
Mr.. Scott presented a petition of Phila-
delphia merchants asking the enactment of
a law to provide for the issue of 3 G5-1O0
bonds, into which legal tenders can be con-
verted. Referred. Also, petition of citi-
Zens of Vicksburg, asking to be reimbursed
for expenditures incurred in the city in
1868 in accordance with the order of the
Secretary of War. Referred.
The Nashville Customhouse.
Mr.. Sherman Introduced a resolution in
structing the Committee on Public Build
ings and Grounds to inquire into the eXpe-
diency of suspending the expenditure of
appropriations for all public buildings upon
which work has not been commenced, and
to cover such unexpended appropriations
into the treasury. Agreed to.
The Transportation Question.
Mr.. Morton submitted the following res
olution, which was laid on the table and
ordered printed:
Resolved, that the Committee on Trans
portation Routes to the Seaboard be in
Structed to consider and report bill Great
ing a commission of five eminent PERSONS
to be appointed by the President by and
with the advice and consent of the Senate,
who shall examine and report to Congress
what legisla ton is necessary and practical
BILE in regaI to interstate railroads TO pro-
mote the following objects, viz: The
speedy transportation, at reasonable rates,
of freightS. and passengers; the safety and
comfort OF passengers by providing for the
inspection of bridges, tracks, locomotives
and cars, and the reform of any grievance
that may exist in consequence OfeXtOrtiOnOr
unjust discrimination in the transportation
of freight and passengers; and in general
what regulations are necessary to promote
the efficiency of railroads, the interests of
commerce and the convenience and safety
of the trayelling public.
Mr.. Morton said ON Tuesday next he
would take a short time to express his
views of the subject
StiII-born ElOquenee.
Mr.. Anthony from Committee on Print
ING, reported favOrably on a resolution
making it unlawful for the Congressional
printer to print in the Congressional Re
cord any special or part of speech not ac-
tually delivered in the Senate or House Of
Representatives. Passed.
Mr.. Davis introduced a bill for the fur
Their improvement of the Great kanawha
river. Referred.
Mr.. Morton offered an additional rule to
those of the Senate, declaring that no
amendment to any bill for the creation of
a post route shall be in order until after the
referring of such amendment 10 the Com
mittee on PostOfiices and Post Roads.
Referred.
BOutweIl.s Views.
The morning hour having expired, the con-
sideration Of the finance resol alton was re-
sumed, and Mr.. Boutwell, addressed the
Senate. He said the Senator from Missouri,
(AIr. SShuTZ,) had been pleas ed to arTaign
him for opinions incidently expressed on
the financial question in the chamber, and
perhaps more at large, and was pleased to
characterize these opinions IS the dO-nOth-
ing policy. Those opinions during the
past five years were embodied in the tinan-
cial policy of both the Legislative and
executive branches of the Government.
The financial difficulty Though which the
country had recently passed had taught a
lesson. As ateacher it should be respected,
but demanding that q policy tried should
be abandoned, and one not tried be en-
tered, it was not worth attention. The
number of failures of legitimate business
men during the late troubles were few.
The laboring classes alone have suffered,
and they alone are the persons entitled TO
consideration, and to thoir interests ne
thought Congress should now address
itself. He hoped to be able to show that
circulation of paper currency would intllct
Standing and Lasting Evils
upon labOring men. He commended that
there was frequently an imitation of cuf-
rency in New York, and its evils were dis
astrous. There is a natural process by
which currency, whether paper or coin
used for purposes of business, will accumu-
late in particular place. When every
| mower of legislation should have been eX-
hausted for the purpose OF distributing cur,
rencv over the country, the result would
be failure. Currency will flow where il
| belongs. and, therefore, naturally accumu.
| lates i'm the city of New York. The banks
| of the CITY of New orll, acting upon prac
tice almost universal, pay interest on de
| posits, and the result is that money, III
| stead of remaining in Chicago, St. Louis
| and other points, flows into New York, al
| - = r.x-f,- orc avnrtV millions
of dollars, being held there subject to call.
| The accumulation of currency in New
| York bv artificial means led to an imitation
Of currency in that city and to speculationS
| followed by disaster and ruin. An infia-
ton of the currency of the country would
i'm time produce the same result. lie was
therefore,
Opposed 10 any Increase
in the volume of the paper money OF thu
country and on the other hand was opposed
to a CONTRACTION OF the currency. lie dit
not think deprecated currency in itself
great evil BY that he meant to say that i
the currency he deprecated and the prices
and products of labor become accommo
dated To that state of things, there are M
subslantials affecting the general prosperity
of the country. The authority of the
| treasury Department. W A>SuC biiC iOil y
four million legal tender reserve ough
never to have been questioned, but h'
trusted that this debate would settle tn
legal right of the Treasury TO use that re
serve. The Department had acted upoI
the idea that it had the right to use
whenever an emergency occurred, bearln:
in mind always that it was not to be addet
to the volume of the currency when issued
but to be restored to the Treasury as 500
as practicable.
Mr.. Schurz-I understand that the gen
tIeman maintains that the Treasury had
legal right to issue the forty-four millions
Does he also maintain that the Department
has a legal right to withdraw it again?
Mr.. Boutwell-Keeping in view the lee
islation of Congress, it was the duty of tn
Secretary of the Treasury TO do so. DE
ducing from the policy of Congress, hi
conclusion would be that S}56,OOO,OOO wa
the amount of currency to be kept in Gil
culation. and when the eXigency passe
it was the duty of the Secretary to reduc
, a. ,-al,,u,n Of currency TO S,J6. tBh. ONf