, 1874-01-20
Invitation OF tho President to spend wock as
guests at tho Executive N1auHion.

Invitation OF tho President to spend week al
| guests at tic Executive N1auHion.
CONGRESSIONAL RECORD.
SENATE.
w4snlsa1os, D. e.. Jan. 10.
Mr. INGALLS, (Knn.) presented n petition oi
cltlzena OF that Slate, aallny that measures be
taken TO isHuo currency bnsed on roal estate
aecuritfos. foforrod
49, ~ STATE CLAIM.
Mr. DOdY (A1o.) introduced bill to roin.
burBo Missouri for expenses incurred lit arnlina
and oquipping troops during lilo lato war. Ree:
forIed.
ATLANTIC PACIFIC 1ANpn.
Mr. pago otrorol resolution inBtr,,cting tho
Committed on Public Landa to ASCERTAIN whether
pacic lsailroal Company to aid III tic construc. g.
tion Of Tho railroad from Springfield, Mo-. to
tho pncitic Ocean, aro forfeited, mud whether
any. legislation Is necessary to rcatoro s,,oh
lands to presumption aud homestead ontry.
Ill; THURMAN (ohio) presented petition in
w1HNBBAuo 1sD1aNs
OF Wisconsin. 1t sots forth TINT tho tribe iB
groatly wrongetl nuder the color Of authority OF
nlid tho tribe Is deprived Of lborty aud property
It askB tho necessary Legislation for protection.
Mr. Thurman eaid It was not the intention Of tho
la!S passed last Eosoion to use forco to remove
these 1ndi0nH. Under tue Fourteenth Amend
meut to tho Constitution these 1ntlians were
citlzenH. and Government had not tho right to
uso forcs to ren1ovo them. Alfidavts accom-
panying tho petition show that the Indians lave
been kidnapped and carried away from tleir
homes. Flo hoped the mhtlor would receive tho
serious consideration Of tho Committee on it,
diau Affairs. The petition WAS referred to that
Committee. as also waa q bill for the rolfof Of
the Chiokusaw 1ndianH.
DETROIT BRIDGE DILL,
Afr. FERRY (h1ich.) introduced bill to au-
thorizo tho construction Of d bridge across the
Detroit River at Dttrolt, b1ioh. lIeferrcd, It
ornrowors any persons or corporations having
authority from tho State Of Michigan aud the
Dominion Of Canada for auch purpose to build
railroad bridge across tho Detroit River at Do
troit. or at any point within four miles above or
below Haid city, and also railroad bridge nnroas
tho Detroit River In the victnity Of Fulton and
Groaso lblaud. aud across tho soyeral branches.
The bill requires theao bridges to be open for
aation, and prcscsibos the humorous details On
this subject, and also as to tho dlnw-bridgeR
over oil channels, width of space, &c.
Mr. RAMSEY introduced a bill authorizing tho
81. Paul tt Sioux City Railroad Company to con-
struct branch road from slbloy, H., to Yankton,
Oak. Reforrod.
COLORADO IRRIGATION SCHEME.
Mr. INGALLS, introduced a bill to incorporate
the Colorado Canal Irrigation mud Land Com
panya Referred.
It Proposes to grant twenty SECTIONS Of public
lands per milo to mid IN the construction of an
irrigating cal,al from tho South Plntto River III
Colorado into tho State OF Kansas as fur as may
Dc dcaited by tho Company.
srln1r INVESTIGATION.
Mr. LOGAN introduced Il bull authorizing tho
President to appoint five Commissioners to col
lect information ~ to tho oTocls OF tie Uouor-
tratic and practicnl workings Of prohibitory
laWs, otc. The, Commissioners aro to servo
without Pay ana be nppontsa from civil fo
bill requires that they slnll DO in harmony with
tho views Of tho taxpayers OF tho country who.
IN 1879, out Of total internal revenue OF
s114,ooo, ,0oo paid s96 00o.o 900 for three articles
OF spirits, tobacco, mud formontcd liquors.
TIE FINANCE nEsoLurloS.
The morning hour having expired tue consid-
GRAFTON Of THO resolution reportod by the FL
nance Committee WIS resumed.
Mr.. Wright addressed tho sennto. Ho had
eoss i fsa'f fiji e 64s asa i y: sus fnsn:s Gont
tee, 10 furious for RESUMPTION. HayB himself ho
theory. III one school Of these lnanciers tue
theory soemoa to bo ontire uiinninlity, as they
ascrlGe all troubles to an overtloao Of currency.
IL his Judgment our currency lad no moro TO-
dc, with tho monetary arrangement than tho
batlance.pole OF an acrobnt, or q 1ast-yea:'s
birds-nost: Ho donied TINT our currency had
appreciated during tho panic. If our currouoy
waa disionorcd now, it was technically dishon-
orad = week after its issue. Was tho nation to
be ad1udgod bankrupt becauso It failed to rny
for another? Every particle Of property of this
yast country is pledged for tho redemption of
tiseHo notes. nnd they arc US good now
ns they can 30 lnado;. Tao nation had
not violated it's pledge. aad there was no truth
now is 1s it practicable, having duo regard for
tho rights of bil-hofdora aud interest of tho
Government. to return to specie payment He
thought not, ind defled any QUO to show tlat the
Govornnlent had departed from the purest NOR
a!ity: When wo havo that prosperity aud trade
Which all should labor for, tlien that grand fact
OF specie resumption wall be accomplished. Why
al this a;ruGgio to got back to Beulo paynollts
Ho had boon answered: " l1ecauee it is tl.o
worlds currency. ue thought tho world would
get over Bome Of its old notions Oh this subject.
NationB wore becoming moro intimate with each
other, aud worliiug together moro harmoniously.
AL this system increases. the world would adopt
a currency not 10 cumbersome. He did not
favor tho substitution of domand-notes for
roncy, mud that issued directly by the Govern
mont. The National Banks were organizations
Of necessity. and tho inquiry now was worthy OF
ntteutlon If tlcro waa further noeit of them.
4 suitable tlmo should be given to wind up their
aifaire: Il We could not have ono currency 1s-
sued by tho Government, tlon 10 favored FREQ
banking, with tho adoption Of tho English rule
making tho stockloldor liable to tho extont Of
hiH noans. His preterouco, though, was but for
ono currency by tue Government, upon which no
interest should be paid, and the reception Of
certain percentage Of those notes by the Govern
mont in payment of import duties. Further, ho
would olanGo the form Of the noto. and, instead
Of mallng it l. promise to pay, would simply
haso the denomination stamped upon it, tho
samo as upon gold ind silver. Tho poo.
pie Of this country arc active and
aud nocd great Volume Of cur
roncy, sosnotimcs mhre than ut others, especially
In tile full aud wntor, in moving crops. etc.
Again, 100000 Of people in tue South, lately
Eet freo. woro now engaged in industrial pursuits
and this demand tor money il increased. Ho
therefore thought it advisable to have tho cur
lelcy e!aatio, with convertible honds at small
ratio Of Interest, at about 65-lD0. Flo favored
\ small ratio. because tic nation was paying too
much interest, both public and private. No
natlon had been 80 much Impoverished as ours
by tho payment Of extrayagatIt interest. II we
return to specie payment now, we must retIoct
1,ntr, pf,x