The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-03-17
SILVER FOR PAPER MONEY.
PROPONED REDf NPrTON or THE
TEICTTUNII CTRBENCI
Mr. Hewitt showing 'hc Trick Of the ~
sumption Act \ Gpud Ttiug ior toe lin-
nnnzn Ncr. hut not u ~tcp Towurd ~pc ic.

nit'ee. repoited hac, the hU iurthe distunu-
ton Of the urapif.p lated m'ncvs VI tncGcn-
~. avs RI. R.c mi.i .eG aud made Sac suc,i |
1tder for tnc .ath ~ March,
A.r llun;ou Dem, Va from the same cou-
uttco, reported back tue resolution directing |
the Acknowledgement g. transmit to TIE House /
all paIcfs and letters asking fcr the removal q |
Judge ncford, District judy fIr the Territory |
II Colorado, and the appointment Of Judge |
stone iu hi. stead AMI. alec. 90 papc's apaer-
tanning 70 tie alleged corrupt ruling ~ Judge
stone. Atoutct.
The House then went int Committee u the !
Whole 90 the ON t. supply The ichtienc, in the |
Currency Printing oud Engraving BHfeau of the /
Treasury department. and for thc ISSUE "a silver |
coin ia tic la., of fractional c9rrcnry.
The thl appropriated s13D"i. ani directs the
Secretary Of the rres-uty 90 issue silver coin in
the redemption of al the fractional currency
oltst ndln-.
Mr.. Randall Dem. pa). Chairman Of the Ap-
preparation Committee. cNtlatued and advo-
Gated the bill. There was nn question. hc said.
as To- tue az. lutte necessity tor the appruuria-
ton fHr iepsintins mutlllted ana worn greene
back cure uCN. He substitution ct SILVER for
fractional currency had been reported by the
the Latter p.int ne sent To- t6e clerk
desk and had read an argument prepared
by Mr.. Wells Of Missouri, q mcmtcr ~ the
committee but who was unavuidnblv absent
The estimate ia tins paper Is that Sjlul0ull in
silver coin viii furnish II the small currency
needed. and allow one third q the amount to
mates the annual cost Of printing fractional
currency az over five per cent. of the amount i'm
citcn ton, and gives the hsures Of such cost at
rRrN,IrHr LEGISLATION.
Mr., Ward Dem, \. Y.lfcsaricd the rcnoscd
ne hnsv , Z rn intn-t,r. Wll,S T.. ,,,utt t,, "a,
h'l r.yef: bOt ne felt TIA, Inc limo had moi
t.t a ~ Ntf AZ ftfr tl lil mar
So as TO war; mt tai- measure.
Mr.. Rand a said that silver was now below
Mr.. " ri-pu; the momcn, that tn. TN
paescs silver Will - nfove par, and IL VIII he
Withdrawn from circulation a. currency. Mr.
Ward went On 70 state his anxiety FOR the re-
SUMPTION 81 snecie payments, tut ne thought
rency ne country should he put In the direction
Il aiefurn 20 sound and convertible currenc
tut until then:hc thought. ~ would be iujndi-
ciuus and un,Hlc a. undertake. THIS partial re.
sumption. lie favored gradual contr elton Of
tue cur ncy. and predicted On twith that CON
traction confidence would return. capitol would
te iuvested and tncie would hc a return o. gen
as t. leave u discretionary with the secretary Of
| the Treas nv.
gnr rF.Ecr or THE RESUMPTION ACTS.
Mr.. Il wit. dom. y. ~ remarked that the
cauaou. official lu.uase Of TIE Secretary OF the
] Treasury iu bis las ANNUAL REPORT t. Congress,
whtn trau-latcd into SLAIN English. o.. 900, ihtt
! Il w,s not possible to rcsume specie pay nltut-
In 1879 is tie more accrnlul.i ION Of lI t,. tu-
4 ca contraction. Ihe re- Imptip1 act Wt-. fnrrc-
fu-e ha-;, piece of crude partisan lc- i.l.t. 100.
! meant to gain temporary political object, and
M 81 it, fr,r,ers mi n could rro,ii.e e,y
/ productive a Nrry great ,'t-. ami hHd
o.e'ated n- most seq. lus chrtN o. Nl'.
| OF energy 1na enterprise. aud capital aul i.l,.r
! stood idle and suffer NJ tiroughlut the land.
rsucy :, low Id ir c!Hdcd trc ptoogt iiit, q
CIV com rem mug 100 cutNi.N Do !, i@'..' i..