, 1874-03-24
CONGRESSIONAL RECORD.
SENATE.
.NAEUiNGI0N
MEMORIALS.

WARRINGTON, d. g., March II.
MEMORIALS.
AIr. CHANDLER presented resolution OF
the Legislature Of Michigan praying Congress-
to amend tue Postal law, to permit the free o1-
change OF newspapers, and their free circulation
III counties nero published. Referred.
NJ. FERRY {N.cl,.) presented a petition
signed by 700 businosb mon Of Now York, asking
that tho volume OF 1egal-tendera be fixed a.
e400, QUO. .000, aud favorlng FREQ banking. H9
@ Which tic wrtor sud he Ind foand hearty esory
business establishment in favor or more cur
rency and free banking. noforrod:
He also presented apotition Of Wayne county,
Michigan, asking that 1egal-tonders be subHtt-
tutea for National D2nk notca. Neforroi.
FEMn1EA TERRITORY.
Mr. FOREMAN, from tho Committee on Tor
ritorics, reported without amendment Mr. RAIN
3 sG H SydsI H. for e dso.9 Is to o. consa me
Of TINT portion Of Dakota which lies north Of
tho fortv-Bixth parallel, embracing IN area Of
abont 7l,ooo square mlles. Tho }lae 9t the
Northern, Pacific nailrond mus through tho
proposed Territory about midway.
OTHER MEMORIALS.
hTr. CONKL1N(t prosecuted resolution OF tho
New York Cotton Exchange, which ho Bnia was
signed by every member thereof, protesting
asAiust an initiation Of tho currency, aud ankin;
legislation for tho speedy return to spccle pay
Mr. CONKLTNG spoke in fnyor Of Immediate
action On the tinanciAl question.
Mr. LOGAN presented memorial Of business t1'
Immediate action on tue financial question, 70 in
crease tho volume Of iosnl-tondelH to SLOT, ,010-
600, aud provide for free banking. -,
Mr.. FOREMAN presented petition Of citi-
zous Of hA Htate, uakiug IN appropriation for
tho improvement Of tho Kanawha Riyos. Re-
ferre1.
Nlr. MORTON presented petition Of colorod
citizens III the lndinn Territory, .actl1tE forth
RI f}1t1n ria
neferrod,
Blr. SHERMAN, from tl!e Committee OH
EnAncs ort'dn n the reat, bill TO f0SGe n,sI tof
gayo notico TINT tomorrow he wo,,ld oaer it NJ n
Substitute for, the pending. nnaucinl bit to
equulizo tho distribution OF National Bank cur
measure, and wna tho result Of great labor onsho
| part 0f the COMMITTEE; some Of Its fcaturoH
wore not approved Of by all tho members Of tho
Committee, and o limBolf bud gyon l's adhesion
| to some Of the provisions with reluctance.
PROPOSED RULE.
| hlr. HFEWAhr submitted = resolution i'll
structiug Tho Committee on Rulea to inquire
! Into tho oxpediency Of amending the rnie SO
time until half pant O'Clock ench das, and dur-
iug tim. tins thero shall ba no debate on any
subject not regularly before tue Senate. Ise-
fenel.
| AH0IN1SH MEHDHlh4s
arr. SHERMAN presented Il prsa'nble and reso-
| luton Ut tho Importers ind GuseorH' Board of
| rrade, OF New York City, demonstrating agslnst
any incrcaso in the volume Of papor currency,
anl favoring M ear1y resumption Of spccio pay
ments.
ORDER DF nC5ISESS.
The morning hour having expi1Bd tllu CHAIR
| announced TINT the Hcnate would resume con.
siteraton Ut tile 1Iouae bill to oqnaliza the tia,
tribution Of tho currency, that being tho Bpoclal
| order fur te-t3ny.
Alr. WEB.r moved that tho pondlug and al
other orders be llid aside, aud tho Sonata pro
cootl to tht consideration nf tho House bill ap
propriating $50, 900 to improve the mouth OF tlls
Mlesssppi River. Lost.
| THE CURRENCY n1Lr.
The Sonato then resumed confederation Of tht
bill to equalizo the distribution Of the curranoy
aud Bouator MORTON addressed tho sunato a
longth thoroou. He said that tho issue Of Unitct
StaIcB notcH should 10 declared legal vi
to tho aggregate of a400, 1000. An III
| ereaHo OF currency to moot. tho dc
ma,,tls of increasing husinesa IL not inAatlo'
In any reasonable aenso. Onrrenoyin tue nstrl.
nlent of business, al,tl should incrcnAe with it
lio asked no othor Increase than FREQ baakin{
will giye III this tobato inla !iun l,al boen CON
fused with depreciation. 10 iullate tue curron
or III to increase tho amount, whether in meta
OF paper beyond the dnMands OF business
Whore inaation III arbitrary, ~ Ia Germany, b.
accident Of v1, II produced arrangement