The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-07-14

Other amendments were agreed TO as follows



House OF Representatives.
Mr.. Mackey Dem, Pa offered a resolu-
tion for the adjournment OF Congress on the
18th OF July. Referred to the Committee on
Ways and Means.
MIR. THOMPSON Dem, Mass.), from the Com
mittee on Elections, reported a resolution in
the South Carolina contested election case. de-
clarine that neither Mr, Butts 0he contestant
nor MIR. Mackey Che sitting memher) wa law
fully elected To- Congress. Ordered printed.
MIR. PAYNE Dem, Oni ,, from the conference
committee on the silver ON made their report,
and proct cded to explain II. ! he House recedes
from us disagreement To- the nr-t amendment
OF the senate, aud agrees thereto, which - TO
at any time 80 Ohe meaning o. which is that
the silver con which Is In the Treasury at any
nons). The Senate also rec,des from it, disa-
greemcnt TO the House auendment to the sec
Ond amendment of the Sen tie. and both Houses
agree to tue following substitute:
SIC g. In addition TO III. amount Of subsidiary SILVER
fraeton@ currency it snail be Isw fui to msruscuTe
Al neseycrsl mnts. anu 10 isue thros tne Treasury
gnc adng the amour. Of sg.hsdIary SILVER com ana
not exceed al any Tine nfty million. of dollars.
SIC INT shs s'Sf isn Tf9qed ,gr 'he p1r
a. the msrKet rate b, TIE secretary Of the Treasury
MN sp' noheS M w., rs u, not W m aupo
hi. act ~han the market RATE for the same sha he
herein rroyided without los. ihe sury. mi any
o or and paa INTO he rf S, pfcvaG
/ unUtr tNlsu- relative TO the subsidiary
aye tea IN 'u.s aver bullion .e1cisivc Il such cir
THE SILVER DOLLAR not To BE LEGAL TENDER.
Sir PAYNE went on to explain that In regard
to the proposition To ms AXE silver dollars a legal
| tender for al debts. public and private, the
| committee had been unable to aeree. out two Of
! the House conierees and all the senate con-
| ferees recommended the omission from the bill
| OF all that related u the silver dollar. lie
| showed that owing to the extraordinary decline
/ A ne Al ter Hnk
| the silver dollar tof tue weight and hnenes. pre-
scrbed by law is to day worth no more than
eighty cents relat vely to gold. and less than
ninety cents relatively to preenbacks. So ex-
| IRENE and sudden change IN the value Of the
lion, aud one Of a ievclai iona Char char
owners OF bullion to have II coined on payment
OF small seigniority, and this would give them
benefit OF ~ per cent. on that o. GRAFTON. Was
the House prepared to compel the creditor class
to receive payment OF their debts IN currency
say that tariff duties should he received in It,
| thus reducing the tariff ~ per cent?
there had not been as great measure Of apore-
citation In gold as depreciation IN SILVER, 81 ought
| about by he demouetiz ton of silver ia Ger
as onerous on the debtor class as the depreca-
| ton Of silver aud the proposition to make II
legal L nder was on the creditor class
| ar. Payne reIlied that no one cOu'd approx
mate the precise estimate Of the appreeiaton
OF gold. no nnaucier could tx upon II.
Mr.. Lawrence (Rep. Ohio) inquired whether
the Government ponds might PROBABLY be paid
! IN silver dcllars.
| Mr. l'a,ne replied that In his opinion they
| could iegallA be p,i q IN silver dollars.
| Mir Lenders dem. Ind.l, one OF the House
conferees. opposed that part OF tbe re- ort when
| omitted all reference to the silver dollar nd
| argued i'm favor of the restoration of the double
STANDARD, which had been the standard from tue
| foundation OF the Government ~ To 1859. Ho
asserted that there had been more change 10 the
| legislation II the country on the subject Of gold
than on the subject OF silver. II SILVER were de-
monet zsd and gold made tue only standard, he
Of Ian
| forty cents day.
Mf. Fort diep.. No regarded the pending
| question as one of demonstration OF silver, aud
asserted that the public debt and almost all the
| private Debt OF the country had been contracted
der. Inc bondholder should ue held 70
| his contract and should be paid IN the
| commodity which lie had agreed TO ACCEPT. But
Il was said that silver had deprecated. II,
| however, gold should depreciate through the
discovery Of some great bon MA what would
Mr.. Bright (Dem., Tenn oppos ed the doption
OF the report, aud argued that by implied recoV-
| lawful money of the United States. Ind that
therefore tie decentralization OF silver was un-
| constitutional.
TnE REAL QUESTION AT ISSUE.
Mr.. Cox Dem, n. " argued in favor Of the
adoption Of the report. lie suggested that tho
| allow owners Of silver bullion To aeposit II in
the mint and receive subsidiary silver coins In
| payment, was a better bill than any OF those
| passed by the House, blt that oill was not be-
fore ne House; he conference report wa. NOT
silver coin would be facilitated. II II were not
adopted there was no hope Of relief TINS session.
| lie might agree with the gentleman rom In
| diana orr. Lindrr-) that even the Government
bonds should be paid In silver as well AS In gold,
but he would not stop TO argue that or other
pertinent questions. The real question was
whether THIS report. which " uld furnish silver
| currency 10 the people, should be adopted, or
| whether the people should be deprived OF That
Sir. Landers-Can we not appoint another
! conference cpmmitteer
/ a be indication which / have
| Sc u II would be utterly fruitless
Mr. Kelley Qtep., PENN opposed the report az
! involving disnon sly and as being dtseredltahle
| TO tue House. lie Appealed to the House 10
81 md hy the provisions Of the Consiituti9n IN
! m0netlze silver and Germany will be compelled
! to ouetize II. We are masters OF the sltut-
! ton. Wien we pay the German bondholdcrs IN
! gold enough to keep up her credit, viii rcmone-
! latipn 10 gold u l58 or is TO
Mr. * -son rep, Iowa. replied to Mr. Kelley,
and -.id that those who sustained the repoft
eemanded That the wages OF labor sAould not
| be paid IA DEPRECATED money.
Mr. Garfield Nsrp" Ohiol SAID that the House
| had been nr luVht face T. face with what seemed
on one hand tho puulic honor aud on the other
| the dcoVest public disgrace nv the alternative
| propositions presented. Hs argued that since
1854 here mad been buf one standard OF money
| IN this country, the dollar, although IL nat been
lawfully an bodied In two metals g III and silver
il has so happened that by the liurtuations
| th'tif IL were now S thank God IL Is not-one
Of our legal forms Of PAYMENT In all amounts
the creditors Of the Goyernment would bs
| sw ndled to the extent Of twenty enc cents on
the dollar when paying them IN silver rather
! than In gold, or TO the extent If ten cents ON
| the dollar wuen paving them in silver rather
| Than In paner We soonny bound
! by the act Of 1919 20 pay our bonds in coin or rs
| equivalent. DO you say That you can pay them
| ia dnireciated silver and still keen the Jaw OF
euulyaency which was the splrit OF the law 81
/ 1859 You violate the law when you violate mo
very essential word Of it-equiyalency. Put
this law into operation as suggeste
| leave the country, Just rs fast as II
| can be transported abroad. Do that, and reV.
| olutlDn in financial and monetary anAiTs utterly
unparalleled In tho history Of the nation VIII
| follow the act.
| Alter further debate the report was adop'eu-
| yeas, 10: nays, 10.
Nh sparks dem, I'D, from the Conference
| Committee on the Indian Appropriation piii, TO-
| morn ed that the committee had been lulahle 10
| a., 40 ,Iha aama committee (MesaTa. Randall,