The New Orleans Democrat. (New Orleans, La.) 1875-1876, 1876-02-20
TELEGRAPHIC.
Resumption vs.. Imitation speeches nj
Chlttcnden tWr Resumption ana nj
Judge Kelly fOv Imitation.

WASHINGTON, Feb. 1D.-The Senate wa
not in session to-day. The session o
the House was for debate only, ou
there was an unusually large attend
ance for Saturday session, in oonse
quence of the great desire to hear Judg'
kelley's speech In reply to Mr.. Blaine
Mr.. Eden, Of Illinois, presided. Mr.
Chittenden, Of New York, made speecl
advocating the funding of legal tenders
permanently. and contended that W,
had too much currency, and that It's re
dundancy was running the country
Banks were required, but the business
of the country demanded contraction.
Mr.. Chittenden compared the copdi
tion Of the country in years when there
was imitation, and argued that panics
resulted from the latter, while business
prosperity attended the former. There
could be no prosperity, he said. until
Congress declared definitely and posi-
lively against what he called the legal
tender abonination. He wanted M
early and absolute return to specie pay
ments. Debt is not money, and the
legal tender debt of the United States is
not good money.
Judge Kelly then took tho floor to
address the House. At the close ol
Judge kelly's remarks there were loud
demonstrations Of applause on the tloo,
and in the galleries.
Mr.. Pierce, Of Massachusetts. next
took tho floor. and addressed the House
on the third-term question.
Mr.. Townsend, of Pennsylvania, spoke
on the financial question, opposing the
views Of the party Of which Judge
Kelly is the representative and advocat-
ing an early resumption Of specie pay
ments.
To-day in the. House, Representative
Kelly, Of Pennsylvania, gave utteranee
at considerable length to his peculiar
views on the subject of finance. lis
plan in brief Is that the United States
Treasury. which is the redemption agen-
cy for the banks, should retain all bank
notes that come in, until those Of any
bank should reach the amount Of 800
dollars, when, instead Of returning its
notes to the bank, the Treasury should
carry to the books and vaults Of the
Treasury 800 dollars in legal tender
notes Of like denominations, with the
bank notes cancelled and destroyed. aud
return to the bank instead Of 900 dol
lars in its notes, 1000 dollars In
its bonds deposited. To secure the
payment of its notes, thus. contends
Mr.. Kelly. would the Government as
sumo its prerogative Of issuing the
money of the country without disturb.
ing tho business of any bank, banker or
merchant in the country. The opera
ton would neither initiate nor contract
the currency. but would withhold from
those who are rich enough to own and
deposit bonds the special privilege OF
dividing with the Government its high
est prerogative- that of coming money
and regulating the value thereof, and
ercising the privilege. In Mr.. Kelly's
view, by contracting our money we have
contracted production, restricted con
sumption. Impoverished the people. and
reduced tho public revenue. Under the
threat of forced resumption, capital
shrinlis from investment in any form
or character Of productive industry, and
seeks safety and profit in untaxed Sc
curities Of the Government.
At the conclusion Of Mr.. Townsend's
remarks the House. at . 30 p. m, ad.
journed till Monday.
Internal Revenue Receipts.
WASHINGTON, Feb. 1D.--Jnternal Reve
nue. receipts to-day $2S5.6G0 10, for the
month TO date $5,G9t .O63 60, for the fiscal
year to date $72, ,7O9, ,213 40; customs re-
ceipts to-day $519,O9s II, for the month
to date $S,904, 1877 GA, for the fiscal year
to date $95, ,S7s,573 &C. receipts Of Ma
tional Bank notes forwarded for re-
demption rs compared with the cores.
ponding week of last year, 1875, $3,3i3,
900, 1876 $3.50, 900; receipts to-day $685.
GA.
House Committee on ApprOprla ttons.
The House Committee on Appropria-
tions had long coffsultation with the
Secretary of the Treasury to-day ut the
IIcHSuIy uSI'tltIltut, III "hiep VIZ o""
iect Of permanent appropriation Tor the
next fiscal year was discussed. The
House Appropriation Committee has
thus far reduced the executive and leg
islative appropriation bill from twenty
two million dollars asked for to seven
teen million dollars.
When the bill is fully completed the
hope to get the amount ap-
within fifteen millions.
The legislative bill of the last Congress
eighteen million dollars.
The proposed bill will be reduction OF
three million dollars in comparison with
the previous one.
senate Committee on Privileges ana
Elections.
The Senate Committee on Privileges
and Elections held meeting yesterday,
and took up the case Of Senator Spen-
Ger, against whom allegations OF fraud
in connection with his election have
been made. The committee examined
the charges and specifications at some
length, and will continue their labors
at the next session. 1t is understood
the committee have agreed to go into