Evening star. [volume] (Washington, D.C.) 1854-1972, 1876-02-25
FORTY-FOURTH CONGRESS.
FRIDAY. EehrrarN .

made for bin by order OF Congress. was on
motion of Mr.. Anthony taken up and passed.
MI. CcrkinS presented JOINT resolutions
log of subsidies 10 The Texas Pacific railroad
or any other railroad corporation. which on
his motion were read and referred TO thee COM
mittee on RailIo1ds. Also petition OF Peter
A Ross, late surgeon OF New York 1th vol
unteeIs. Referred 10 Committee on Pea
| sionS.
Mr.. Allison presented petition of 40 clti-
Ems OF Delaware county, Iowa, asking repeal
or specie resumption act, Finarce.
| Mr.. Morrill, (Nt ;, from Committeeon Rev
! dictionary Claims, reported adversely on
| bill to provide for the settlement of the
claims ofrevOlutiOnary officers, &C, and II
Mr.. Cameron WIS.,, from Committee on
! claims, reported adversely on petition of
Sarah r. Weston, and Committee was dis
| charged from its further consideration.
Mr.. Frellnghuysen, from COMMITTEES on
| Agriculture, reported House resolution 10
| provide for the distribution of the remaining
| copies OF the report Of the Commissioner OF
| Agriculture, with an amendment providing
| mat the Senate shall have , 500 copies and
! House : SEQ copies. Agreed TO and resolu-
tion passed. as amended.
Mr.. Booth, from the Committee on Pen
| SONS, reported bill for the relief OF Nancy
Mr. Kelly introduced bill for the restors .
| lion 10 market OF certain lands ia the terri
| tory OF Utah. Committee on Public Lands
Mr. Howe introduced bill for the i'm
! proVement OF the Chippewa river, in Wis
cousin. Committee on Commerce.
! Mr. Cameron WIS., introduced bill TO
establish certain post routes in Wisconsin.
/ Post Offices.
MI. sherman called up bill increasing the
/ amount OF 1 x per cent. bonds 10 $500 900 Ool.
/ and making them a So year instead of a L.
1 year bond. He explained the views OF tue
/ Secretary Of the Treasury as 70 the neceS-
sity OF a speedy passage of the measure, aud
! his belief that they could be Immediately
| put on the market. and the same number OF
| six per cents withdrawn.
Mr.. Dawes asked how many six per ceats
were out now.
Mr.. sherman said ne thought a5ont
Mr.. salisbury thought We hal better ;ry
| 10 sell The per cents before patting out any
more OF the higher rate. He thought there
| would De 10 difficulty in s-lling the / per
| cents.
Mr.. Sherman said the Secretary had not
| heretofore been able 10 sell any OF the - per
| cents. The Secretary thought if Congress
| would make them long bond he could dis
rose OF tUeI1 without Trouble.
| MIR. wallace asked why not m 'Se the rer
| cents 70 year DOnd aud they could be sold.
| Mr., sherman did not know about that
| He was opposed; however, 20 issuing a 50 year
| bond, and be believed the public debt would
| be paid OF fore that time.
| Mr.. Allison sal this new loan ought TO be
| exempted from the provision Of the sinking
fond. The operations Of the sinking flnd
| would. al the present rate, pay OF the deb:
| in W. ty-three years. and '.If So bond were
TO run thirty years. He thought they would
s.! lester II exempted from ihe operations
Mr.. sherman said IA. sinking fund was In
| the G ntrol OF Congress, and could be regu-
| la'ed hereafter. He would be glad If tae
! Senator from Iowa would guarantee that the
sinking fund should not be disturbed for
| twenty three years.
Mr.. EGmunds said ne regretted to hear the
| Ser ator from Ohio admit that the sinking
| fund could be disturbed, or interfered with IA
any DlaEI er. He regarded the obligation 10
| keep up the sinking fund Just a. Sa red as
interest m
| debt.
MIR. Sl6r. aaE said he did no; mean n i'm
! ply TIA, ne sinking lgnd could be Impaired.
but that Congress could regulate the method
OF its &C, Emulation.
Mr.. Morrill, (Nt.l said these bonds could
not be taken from the holders without their
cDL sent, and II the government wanted TO
/ redeem them IL would have to pay their
ruling rate. The government had paid 10
per cent. premium on its own bonds, but the
bones were SIX per cents. 1t was not likely
| that = per cent. bond would go very much
above li.I These = per cents should be on
| the same footing as an the other bonds. To
exempt them from the operations of the
sinking fulG would be TO put blight upon
tac payiic credit. In the course of further
discussion Nj. sherman stated that the bill
did not propose absolutely that the * per
cents should be g. creased TO $500 600 DJj but
| that they may be increased. The object. of
course, IS 10 save the government a large
amount Of interest.
Mr.. Mcdonald moved au amendment, pro
yiJlng that the ! Z per cents shall no, exceed
S5O00oO,0G0.
THE Cj BOND BILL
HOUSE or RESENTATIVES.-
Buckner Mo- called up the report OF the
committee OF conference in relation TO the
payment OF the Interest or the 3.Cj bonds OF
the District OF Columbia, ald moyeI us
adoption.
Nj. Holman lIni.) inquired what hal been
done III relation TO the bonds which were Al
legged 10 have been issued fraudulently.
Mr.. BuckneT said that that question had
rot been cOnside:Cj. because the bill dlu rot
III single part commit the govern
ment 10 the payment of these bonds All
that the bali Old was TO declare thar the Dis
trict Slou.d use its own money 10 pay the
Interest On these bonds. We could moi iuSt
now separate the legal from the Illegal bonds,
the fraudulent from those not fraudulent
After an investigation OF the whole matter
an effort would ne made 10 separate the good
from the bad, but IL could NOT be done before
that. IL was desirable to pass this now, in
order that the interest might be met, and
that there might be no question as To tue
further Issue .! bonds. The Board of Audit
had recently Issued a few bonds but only
upon certificates from the nmisSionerS of
the Sinking Fund. He believed the Com
missiOUcrS of the District had no autbnrjtv
now TO 90 any more work. He believed mai
fraudulent certificates had been issued but
an lDye- CATION would develop that fact
tUt 10 T. aut vl,I.d be prevented by a refusal
10 pass the biIl
Mr. Hereford SAID that the discussion of
this question commenced on January 9th
81 ould be issued from that date and he under
stood that the Board OF Audit was still issu-
ing the bonds.
MI. Buckner explained the operation Of is
suing the bonds, ana said none mad been is
sued since January 9Th, except upon claims
previously allowed.
Mr.. Hereford said that If that was so why
did the conference committee refuse To in
sert the clause in The original bill dlscouute-
nancing the Board of Audit, and declaring
tfat no bonds issued subsequent TO January
18th shall be paid.
Mr.. Buckner said because they were not
willing 10 discredit any OF tire bonds and
send them out with a stain. The committee
did the best they could aud that which they
believed to be right He repeated that there
had been no recent issue except upon claims
previously authorized 10 be paid.
Mr.. Clymer (Pa.) said that he understood
that bonds had been fraudulently issued
since January 9th.
Mr.. Buckner replied that the gentleman
did not distinguished between the issue of
certificates by the sinking fund commits
sioneTs and by the board OF audit.
Mr.. CIymer said Ii was asserted ir the Sem
ate the other day, and the statement was un-
contfadicted, that the board OF audit had
since January 18th issued one and q half
million of bonds. He quoted from Senator
n I'D, q ~