Ottumwa weekly courier. (Ottumwa, Wapello County, Iowa) 1872-1899, 1874-01-29
s ..ssf complete n ittyneM3 s,f
,HPES AND pRESS ES

nclSAh 0uu pASstuSefs. auu III gcucF-
al, what regulations are necessary to
promote tho efficiency OF railroads, the
interests Of commerce, and the con-
venience and safety OF tho travelling
public. .
The morning hour having expired,
the consideration of the resolution OF
the Finance Committed was resumed.
Mr.. Boutwell, addressed the Senate.
he referred, in his opening remarks,
! 20 schurzs criticisms of his opinions,
which during the past 1--WE years were
embodied in the financial policy of the
Government, and said the recent fina,-
/ |cial psnic, while IL had taught d lesson,
did not show that policy which had
been tried should be abandoned for
one not tested. He claimed that the
number Of the failures Of business men
dnring the late panic wore few. The
hboring classes alone have suffered,
and are alone entitled 10 consideration
In furnishing relief, and In his belief
N imitation OF the currency must In
Aict lasting injury upon working men.
He cOntendod that large aceumnlntions
Of currency In New York, and consc-
quent speculations, was the cause of
the panic and financial disaster, and
(arg0ed that an in6atioh Of the curren-
cy Of the country would in time pro-
duce q similar result.
He was therefore opposed to any in
grouse In volume OF the paper curren-
sey, but was also opposed to any con-
traction oft. He then took up the
question of re-issI Q Of tho forty-four
million reserve, and declared tho right
Of the Secretary Of the Treasury to re-
issue il ought never to haye been
questioned, and argued at length in
support OF his we'll known views on
the snbject. He denied the correctness
OF the statement that in the past four
years no progress toward specie re-
sumption had been made, and cited the
Decreasing the syalne Of gold during
that time in proof OF his view, a de-
crease which he attributed mainly to
the increased business of the country,
though admitting In reply to ques-
don that the decrease in 1869 was
largely attributable to the passage by
Congrcss Of an act to strengthen the
public credit.
He opposed the free banking system
% unreliable, and opposed Mr.. Sum-
ner's Convertible bond proposition on
the ground that It would result in con-
tracsion and the boarding Of money,
and bonds would also be brought up
BY combinations Of spcculators, who
would be able to use them to increase
tho currency and initiate the prices to
suit their schemes. $50
The plan Of reslmiDg coin payment
in . year from now, he argued, was
impracticAble; that the government
had mot enough gold and could not
got It. He was also opposed to bor-
rowing money with which to resume,
and finally concluded, there is but one
remedy and one measure to ward OF
the evil, and that is by taxation. He
would not say what, but taxation
must be, or else the disgrace of fbor-
rowing money tO pay the expenses of
the Government; and as between the
burden and the disgrace he would put
the burden on the people ofthe coun-
try before submitting To the disgrace.
Mr.. Boutwell,, having, in the course
fhis speech, referred to tho prosper
ity of the South, Mr.. Gordon gave
statistics, showing a decrease in the
ssaso or At.
and in the amount Of fariA products
in Georgia. between 1850 and lS70 OF
from 30 to 80 per cent.
1 adjourned. ss-
1 sas WAsHINefos, Jan. %.
'-a Sts4F HOUSE. $50
The morning hour was occupied
with . call 0fthe committee, for re-
ports Of private character which
were aA referred. Tho Committee OF
the Whole, the House resumed the
consideration Of the West Virginia
contested election case.
A delegation or silk manufacturers
was before the committee on Ways
and Means, urging an increase of duty
on silks, ribbons and manufactures OF
cotton and elk to uniform rate Of TO
per cent.
tp SENATE.
Allison presented the petition OF
citizens of Dubuque, Gregory Land
| ing, New AlbOr, Clinton and Harpers
| Ferry, Iowa, and Brownsville, Mimi,
| asking that the bridge across the Mis-.
sissippi river q Clinton, bN opened to
all railroads sdesiriDg, TO cross the river
omit. deferred.
Thurman presented . petition from
the citizens Of the District Of Colum.
bia aaking the appointment of a COM
| mittec to investigate the affairs of the
| District Of Columbia, especially the
operations Of the Board of Public
WoSks, aud asked that it, be ordered
| 10 lay on the table aud bc printed.
On motion it was referred 10 the
Committce On Printing.
Stewart spoke against imitation OF
| tlIe currency and in favor of free bank
ing on . G0ld basis4 The fnrther con
sideration Of the resolution ofthc Com.
Mittee on Finance was then postponed
| till Tuesday next.
| WAsAINGToN, Jan. 90
Mr. Wright, from the Finapce Com.
niil1ee, Yeposted fayorably on tht
HQuse bill to Ah0lish the ONCE of dep
luty Commissioned or Internal Reven
Il ne. FIacGd on tic calendar.
i As. Wrieht introduced bill to pro
lvides for cheap transportation by ths
Iway of the Great Lakes Of the North
1 Wo3t. Referred. tn
| The 4biil to facilitats the improve
| ment Of the mouth Of the Mississippi
river waS taken mp.
l The bill gives the control of tht
channel a tho month to Tho Secretar,
Of War, and is intended to prevent OBJ
struo&iCns .being placed there by tn,
law Of boat associations who oppos.
the improvements. Aftcr debate th,
HSyt ,.,.. - <>v,,.,,Sltas1 A. tba fsNvnp,; II