The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1876-01-07
WHEELING FRIDAY MORNING, JANUARY 1876

, banks ought TO prepare for specie, and /
, would be no more than just for Congress
10 require them to keep the coin interes
the government paid them on bonds de
, posted until they could resume speci'
/ payments, but he would not divert thl
: security which depositors have, as pro
posed by the third section Of the bill nov
before the Senate. 'N"
Mr.. Edmunds inquired how nationa
bank could resume as long as the govern
) ment did not. 1t could redeem It's notes
with thegreenbacks which had been legaI
tenders.
Mr.. Thurman said when the time came
he would endeayor to show that both the
government and the national banks could
resume. Then the Senator from Vermont
could ask thatquestion.
I Mr.. Morrill, argued that by compelling
the national banks to have portion oi
their reserve in coin instead Of legal ten.
ders, it would be no diversion Of the secu,
rity which depositors had.
Mr.. Edmunds said the Senator from
Missouri (Bogy) had said the bill intro.
duced by the Senator from Vermont did
not provide for accumulating coin In the
treasury. He begged to call the atten:
tion OF that gentleman to the originrl act
OF January l4th, 1876, which did provide
for such accumulation. TWAS true that
this act did not receive the votes OF Sen.
ators belonging 70 the Democratic party,
and he was forced to believe il did not
meet their approval. Hethen read from
the act Of January last and said that abb
solute power was given TO the financial
officer Of the government. to take the
necessary steps to pay legal tender notes
in coin. All the surplus reventes from
this time forth were TO be applied 10 It.
Mr.. Bogy-There are no surplp, ~ &C.
nues.
Mr.. Edmunds--That depends on how
the revenues are collected in the West.
Laughter.J
Mr.. Bogy-If you will appoint honest
men from your party TO go there they will
be properly collected. Renewed laugh
ter.
Mr.. Edmunds-If we appoint honest
men we will be obliged to appoint them
from our party. Resuming Mr.. Edmunds
said he was glad to say that the great
body OF the people Of the State which SEN
ator Bogy.in part represented had per-
formed their duty in bringing 10 justice
those who had violated the law there. The
country, by the act OF January last, had
entered upon fresh promise, 10 which
all revenues and credits Of the govern
ment were to be devoted, and he did
not fear that so long as this gov
crnmcnt continued in the hands Of the
real friends Of specie redemption, that
the promise would be disregarded.
Mr.. Bogy argued that there were no
surplus revenues now and there wonld
be none by 1870.
Mr.. Sherman said he was sorryto hear
such statements, there was even for the
past year, which was one OF the hardest
in our history, surplus revenue from
ten to fifteen million dollars and there
would be saving of probably fifty mil
lion next year by the reduction Of ex-
penses.
Mr.. Bogy said he had no doubt il the
measures inaugurated by the Democratic
House Of Representatives should bc pass.
cd by the Senate there would be surplus
revenue, but he had no hope that such
measures would be passed here.
Mr.. Edmunds inquired what these
measures inagurated in the House were.
Mr.. Bogy said at the proper time he
would take great pleasure in informing
his friend (Edmunds) Of them, and know
ing his patriotic impulses he hoped that
he (Edmunds) would be an exception to
his party and vote for them. Laughter.
Mr.. Eaton said. that in hid judgment
there was no surplus revenue. The fg- |
ures might say so and men might write
surplus, but there was none. He would |
appreciate. the paper dollar to the gold |
dollar, and it was the duty Of Congress
to do SO; not to legislate as partizans, but
as Americans; not to put up one party
and down another. He would be found |
at all times, without regard to parties,
prepared to legislate so as TO bring paper |
up to gold.
Mr.. Sherman said he was very happy
to hear the Senator from Connecticut
make this declaration, for he was the first
one OF his party who had promised aid
in resumption. If the Senator would
bring in bill to thatsend 1t would be
passed. He (Sherman) for one would
welcome his bill. He was sorry none of the
Senators on that side had brought in such
a bill before. The Republican admins.
tration since it had charge Of the govern
ment had paid off more than any govern.
ment ever paid before. 1t was estimated
at the beginning Of the present fiscal year
that the surplus revenues for the year
would be only S9,000,O000, and yet in
the FIRST six months OF that year the pub
lie debt had been reduced nearly $9,000,-
900, and the best months for the revenue
were yet to come. He had no doubt now
that we would have surplus revenue
Of S20,000,000 for the present fiscal year.
II Senators would join in practical econ-
omy there would be surplus OF $40, ,000, 900
during the next fiscal year. The Senators
ought to take a hopeful view,of things in
this Centennial year OF our great country.
Mr.. Edmunds said this question Of the
finances was party question, and it
would be aparty question like other great
questions.
Mr.. THURMAN said il the Senator meant
that the bill OF last January was a party
bill, he quite agreed with him. That bill
never saw light in this body until it
was brought forth from a caucus and
passed without a single word OF dis
cussion on the part OF the majority.
1t was n bill which those on his side Of
the Chamber never saw until the day 1t
was taken up-a bill which went to the
other House, where the previous question
was ordered, and it was passed without
discussion by a party mdjority. 1t was
a curious compromise Of conflicting opin: +
ions. 1t was party measure, and 1t did
not become the Senator from Vermont 10
say that the thing was voted against by
every Democrat.
The bill was finally referred to the
Committee on Finance.
The Senate at 8 p. NJ. went into execu-
tive session.
Execution.
PITTSBURGH, January 6.-The execu.
ton Of William Murray and Frederick
Myers, for the murder OF Gotthardt Wahl,
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