, 1876-01-07
WASHING
Dcbatq upon Senator Morrill's
Resumption-Aid Bill.
Vigorous Speech in Its Behalf
by the Author of the
Measure.
Growing Up to an Inflated
Currency.--What That
Implies.
1scn1nrlka of Senators Thur
1inra, Sherman, Hogy,
Etlrn11zlt3s, Etc.
An Anti Contraction Resolu-
ton offered and Referred
in tho House.
Introduction Of 4 Bill Giving the
Centennial Exhibition
$f,500,030.
Mr.. Blaine Chookmates Randall On
the Amnesty Question.
Au Us}y Case Of Cotton Frauds Uuearthed
By Secretary Dristow.
Transmission to Congress Of Dr.. Lin
derman's Branc!, Mint Recon-
mcndatioas.
Senator Booths Explanation Of
Ills 1ntcrconvcrtiblcG Gold
Eond Scheme.
Au Us}y Case Of Cotton Frauds Uuearthed
By Secretary Dristow.
Transmission to Congress Of Dr.. Lin
derman's Branc!. Mint Recon-
mcndaiions.
Senator Booths Explanation Of
Ills 1ntcrconvcrtiblc Gold
Eond Scheme.
mC7RlLL'S FINANCE BfLL,
DEBATE IN THE SENATE.


sptrta. D7aiakei. to 7,hr CAsesoa Tribune.
WARRINGTON, D. C., Jan. 8.-Thera res 1ults
nn animated financial dobata In tho Senate to-
day. Morrill,, of Vermont spoke tho greater
part Of tho dny upon Ills Resumption bill. main
saiuing that resumption mas entirely practices
bio Jan. /, 1870. Ho moved to rotor
Lis bill to tho Fiunuco Committee
An animated partisan debate followed in which
thero waFo recriminationB between Itcpubcans
aud Democrats. Senator Edtnunds was aavere
enough to faY that no Democrat had presented
any proposition for resumption. and that ho was
reminded Of tho profession Of Democratic sena-
tors In 1864. Hho wore always In favor OF pre-
Borvins ths Union. but always opposed to any
legislation for thai purpohe. Souasos Sherman
took very hopeful Wow OF tito situation. Jlo
believed that tho country ID In n much bettor
condition than Ia represented, and thought that
tho contcunial rear would commence now era
Of national prosperity.
ITO he As,aefattd Frsas.l
Mornl1Its SPEECH.
WASHINGTON. D. c., Jan. 6.--In Tho Senate to-
day, Tho muropg business boins dispos.e of
Mr. AIorr11l called up tho bill insrnd 1oea by him
Of legal.tonder United Ssatcs noten In Aooord-
nnco with tho existing law. and addressed tho
8ouato.
ME. Morrill,, In the course Of nia argument,
said he thought by Jan. l, 1878, tho difference
bosweoo paper and eold would be ,nucl, losu
than # In now, and that, as h foscrnnntr Of ro-
sumption, It would BE- vol to provide that con-
TRACTS aftor Jan. ]. lh78 shall be upon specie
basis, unless otherwise rreciaed. Ills would
aud bring specie into circulation. 1io do
areenbaeks With ~ intosconrertlble s.65
PER cent DEMONSTRATING boud: doclariug
f1A tfafk
Or private advantage. He tEoued It to an otror
on tho pa,t Of tho GoYot nment to tako and keep
all tho loracs thrown CUT OF employment At tho
commencement Of tho wtntcr, promising to To-
rconled tho proposition often broachoj, tha. tho
dutica Oh foreign goods may b. hereafter paid
iu paper. Thu would yi1tual!y repeal the law Of
lBu!. containing tho prtgo OF the country that
y Io oabe aeb aa se '
wlo sro wilIiug to mound but not ready to
wholly cut loose from coin, dotortnlued 10 slnk
o1 o,o swim in "h II! paper m0A'} sont .on and
who really fcol. II no allox how much no 1ctpl+c
pou aud how litto nc caro- for it nt the Gust ON
1tuusc, that oYorYbody will adoot the sa.ns op,u-
ton, and gold rill tuen Al once dr1p 80 low III
value that all who have tt will bo IN hasto to az
chango It Tor paper, with mich gravity. They
oyeu claim this ~ tno esiftest mode Of retutn-
ing to specie raynenta. By our tatlerIng doo-
larstlon that black ta white we ara 10 make oilly
bull,onista, following Ito example OF tho crow
III the fatlo. drop their gold, atitI. llko 4Eaop's
FOX. Nc hra to etnnd rcalv to Bnntch Il up. II
these honest men a1o nut miHtakeu, hora ID 10 ho
found real rosntnptsso boomerang. which,
.seaS .seSa 'oI' i ta S hrl " 'a .tgna sn9a''' ,s d.
at last amite tho rock from nlicll
will pour flood Of plce!ouB metals. confess
to IN entlto want OF faith IN tho boomerang
movement.
III rjdicrP.d ~ .,,.i,lo,.hta 1n,o,t, .,,a ,a..
that NO muht not only keep aud maintain
yalume Of currency equal to the wHnss of trauo,
but tnas It must bo hon-axportab1a currency,
claiming that TINT very doctrine sent cur bontie
y not up. that ons on!T sanedy for cusrenoy,
argcIy Inflated and below par in ito walt anl lot
the country grow up to It. Tho philosopher wlo
waited on tue 1ankB for tho rver to slin ty was
papor circulation. with population ot 9l,6l0, GOO.
81 1860. and Of years PRIOR tiereto ~ equal 10
tho fair requirements ct financial health aud
larger by the Ice Of Alahka, We hayo HOW such
al txctts of currency that II we wait uuti tho
country RroHa up to it VIC must poatpnus Eteco |
RESUMPTION uutil our population rises to 116,- |
@.,', T.h So.re.lonolnE tnsresso OF the
pose that contraction would benelt tho ticL aud
!all he&Slly upon tho poor, ~hlla ipilatIou would
operate 10 tie opposite direction. 1t would ba \
AtuoH ApaIEa tuu b4utu 20 Say Lie 11oEt would b6
cxact!y the teyosee.
lle snoko = lspRth againrt tho Injustice and
esl policy Of lntlAt!ou: and reviewed tho argu- |
LAt!onal banking sYaselu, and eaId II tho bsoss
wcro ouly circulating = currency convertible II
lar nearly a! tIleir dofecsy would vanish Whst
we ,nost needed after specie Resumption 10 rom.
ploteIY remedy our financial condition was more
iea, and absolute capitl', All fpanciI tinker
Ing ia tho world would not s1pply IL. All ths
cLtap o1peiients for making naons1 plsnsy
esf0t toe %eu ge Is, f2E snsl9s
failure. Tho sopneE 70 lsarn that monsy ean't