Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-01-16

POStofiieeS and PoSiroads To eIauire into
the expediency Of continuing the mail
service on routes where the actual receipts
are not one fourth of the expenses. Agreed
to. if,
Post Routes.
The consideration of the bill to establish
post routes through the country was re-
Sumed. -'
Mr.. Morrill,, of Maine, again urged that
the service be Invested of all express and
freight system. ----s-I. -=
Mr.. Ramsey said there were but six or
seven States inthe Union which paid the ex-
penditures for transporting the mail in
them, and he desired 10 say To the gentle
men from Maine and Vermont that their
States were not of the number. Yet the
Department had not been in the habit Of
cIITtailing the service in those States.
Mr.. Hamlin thought the post route bill
should be carefully guarded. lie would Of
fer an amendment in the proper time TO
provide that the service should not be es-
tablished on new routes until an eXamina-
ton showed such service was necessary.
Pending the discussion the morning
hour expired and the Senate resumed the
consideration of the resolution reported by
the Finance Committee.
Morton Reviews Sehurz.
Mr.. Morton reviewed the speech of Sen
atOr Schurz made yesterday, and said he
could not agree with the gentleman. He
(MOrton) believed in order to bring our
currency to par we must resort TO some 9th
er means than contraction. He was OPP
posed to reduction in the price of labor or
commodities. If it be done it should be
done very gradually. The Senator (SchurZ)
would do it all at once. lie would de-
scend from Lake Erie to Lake Ontario over
NiagTa Falls.
Mr.. Schurz said the Senator was miStak-
en-. He did not desire it all to be done at
once. .....-.. .-............
Mr.. Morton replied that he accepted the
correction ofthe gentleman. The thought
full sailor in going from Lake Erie to Lake
Ontario, viii go by way of the Welland
Canal, locking down gradually, but an inn
pulsive one would 60 over NiagTa, and it
was so in regard to the resumption of spe-
Gle payments.
Mr.. Fenton said while he concJIITed in
the views Of the gentleman from Missouri
tSchurz), he did not desire to be under
stood as advocating a rapid withdrawal of
currency. II should be done gradually and
a time fixed to commence resumption of
specie payments.
Mr.. Morton said the remedy presented
bv the gentleman from New York (Nr.
Fenton) was like that offered by the gen.
tleman from Missouri q Mr.. SchurZ), con-
traction Of currency. 1t would be well for
the country to understand now that the
proposition is that We return to specie pay
ment by contraction Of the currency. The
great body of the people Of the Northwest,
and he believed if the South now thought
the cuTency circulation too small. He
argued that the United States could not be
gnided by the experience of England in the
matter of contraction. There was hardly
man in England living five miles from the
bank, and most of them lived in towns and
villages in sight of banks. The facilities
for bank credits there We're much greater
than in this country, and there was no ne
oeSsity for so great volume OF currency.
England with her 3l,0GO,0O0 people had
six hundred million currency, and the
United States with her iOGOUO0 people
had only eight hundred millions currency.
He did not think our currency redundant.
Ii had been argued that We had built rail-
roads too fast. He did not believe Sena-
tor on this floor would say his State had
one railroad too many. Probably some
times they had beer built in advance of
! settlements but always the pioneers of
civilization. He enquiTed Of the gentle
man from Missouri (AIr. SchHrZ) what four
countries had made the greatest progress in
the last Ten years.
Mr.. SchurZ replied he could not answer.
not having the statistics before him.
Deprecated Paper q National Bless
ing.
Mr.. Morton said he had been informed
that Austria, Russia, Germany and Italy
made such progress, and Austria the great
| esl co...iSratiyelv sDeaking to the United
| States, Russia next. Germany next and
then Italy. During this period the curTen-
| CIV of Austria had been at a discount of
! faOla / to 20 Der cent; that OF Russia 10 to
% per esns, and that OF Italy somewhere
! from > to 20 per cent. He desired to again
| state that the recent panic in our country
! did not spring out of any defect in our cur
rency. The currency did not run down
| during that panic, but the contrary. He
s.g behind all this contraction argument
| the old state banking system looming up.
| He hoped the country would never return
| to that system nor anything like it. lie
| had understood that his friends on the other
| side of the house 0he Democrats) with but
| two exceptions, opposed the present Ma
| tional banking system. One OF tbs aeIa-
! tors from Missouri (Bogy) Jew days sincs
| said his State wanted more eur: ency, while
! the Other (schurE, yesterday said II had toe
! much. Which Of the gentlemen represent
! ed the people? lie ventVTed To say Sir,
Bogy represented the majority. Alr. Nor
ton in conclusion argued that the policy of
| contraction was disastrous and ruinOus.
| He would rather see the currency increased
| a small amount. There was a smaller vol
! ume of currency to-day compared with the
] wealth and business of the coVGtry than
] there vas fiF6 ysaFs asO eonipSTed with the
wealth and business or the country az that
time. These things aro not 20 he whlstled
down and settled by the visions of John
Stuart Mill. The system of wages and
prices in Eneland would 10 more answer
in this c6UntfF than aInap ca EgrOf1 would
answer foi map Of North America
Howe.
Mir. Howe said so many plans had been
devised that he began TO think it would be
unfatriSi.a in him not 10 say something,
and he had therefore given Notice q few
DAYS AGO that lie would introduce a bill.
In accordance with such notice he sent to
tha ci6riz;s desk and Rad read bill the title
of which is a bin to provide for The grad
uai withdrawal from circulation of ire
deamable national notes, ana the Substity-
ton therefor of redeemable national bank
NOES; to Ten}cYs the unjust restrictions
upon banks Of issue and npOn the amount
of circulation lie said hs thought the
country was doing business on 4 scafiold
good way up from the solid ground sus-
tanned by statute of repeal. The statute
! apd business would tumble down. He did
not propose 10 contract the volume OF cur
rency, but steadily appreciate its value.
| LIE aIrne,afeA flnn 1,asSahn Of his bill and