The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1877-11-08
CONGRESSIONAL.
HOUSE.
wAsn,Soros, November :

resolution, which was adopted, expresSln
the regret OF the House at such reSigna
tion.
The regular order Of business beinI
demanded Mr.. Atkins said that the Com
mittee on Appropriations didn't desir
the consideration 0f the army bill to-day
and the Speaker declared that the regula
order was the consideration Of the bill
for the repeal Of tue resumption clause
Mr.. Gardner proceeded TO address tht
House in favor Of repeating the resump
tion act.
In considering all the provisions OF tha
act together, be was led TO the concluuior
that It's object was to substitute for thl
outstanding currency a subsidiary silver
coin, national bank currency and sucl
circulation, after the lst Of January. He
claimed that the tendency Of tho act, Il
enforced, was rapid contraction ofCur,
rency; that that meant q rapid deprecia-
tion Of values, and the consequence oI
that must be general bankruptcy oI
active business men OF the country. En-.
tertaining sHch views, ard believ-
ing that an attempt 10 enforce
the Resumption Act would re-
suit in speedy contraction Of the cur.
Tency, and that ruinous consequences
would necessarily follow, he was In duty
bound 10 vote for lis repeal. In doing so
be did not mean 10 be understood as he.
ing opposed to resumption, or as being
in favor Of imitation.
Mr.. Cox, Of Ohio, agreed with his col
league (Gardner) In many Of his views,
though not in his conclusions. lie (Cox)
concluded that II would be wiser to
amend the law 70 as to reach the conclu-
sions which its friends we're aiming at,
rather than TO repeal ii entirely. He
proceeded 10 explain and advocate the
amendment offered by him yesterday.
Resumption should be reached not by
saying we will resume In 1879 or 1881
but in providing intermediate steps to
resume. 1t was that which his amend
mCnt proposed. lie had offered hls amend.
ment as means Of coming 10 mn under.
standing about resumption. Party ties
could mol be drawn on such q question.
Could not those who agreed on the policy
Of resumption agree on a method Of
bringing it about? II the method pro-
posed by him was not the right one, let
right means be shown. am entirely free
TO say, that II the people Of the United
States who hold the whole Of the current
cyl say through their representatives in
Congress that they do not want the gov.
ernment to pay il in 1880, or 1890, or at
any other time, they have an Sb,olute
right to say so.
Mr.. Riddle followed 10 favor Of the re-.
peal Of tho resumption act, and q cub
stantial equality in the imposition Of the
burdens and the distribution Of the bene.
fits Of the government,
Mr.. Price said he had voted to take the
bill out OF the morning hour, not because
he believed in the doctrines Of the bill,
but because he was opposed 10 anything
like gag law or suppression OF discus
sion. The question was one which agi.
tated the whole country. The statement
that 2S3 National banks had voluntarily
gone out Of existence, not because Of the
passage OF the resumption act, but be-
cause the taxation Of National bank
property was greater than the lax on
other property led to discussion with
Kelley Rnd others.
Mr.. Kelly, said the National banks Of
Philadelphia have jast declared their
Pemi.annual dividends ranging from 8 to
l0Per cent, and have been adding to their
surplus; and one Of our National banks
recently made not an annual, but an ex.
ira dividend OF 100 per cent. The taxa
tion which alloTa such profits is not op.
preSsiye or calculated 10 drive capital
out Of the business.
Mr.. Price, continuing, said | want the
country to stand by its promises. II we
are true to ourselves we will accomplish
all we have promised and we shall con.
tinue to be what We are to-day, the ad.
mirution Of the civilized world. ZAP.
plaute.1
Mr.. Kelly-Was it not tho argument Of
Peel and Ricardo when the act Of 1919
was passed that, as gold and paper were
then at less than 8 per cent difference, it
was mere question Of from 5 10 8 per
cent 10 be difGused over four years I?
What was the result Of overcoming that
8 10 5 per cent? Values were reduced 60
per cent, and Elder Peel said 10 his son |:
Robert, you have made fortune for
your family, but you have ruined your
country" Three per cent was enough 10
do that.
Mr.. Price--I do not know anything
about Elder Peers opinion, and do NOT
care much about his son. l live in the
afternoon OF the nineteeth century, and
am legislating for people who live in the
afternoon OF the nineteenth. century,
While the Values in England at that time
may have gone down 20 per cent, the
values here have gone up, because gold
has gone down from 290 10 lO3, Do not
compare this country with any other,
There is no place to make q country to
compare it with. [Laughter.1 In Eng.
land you msy take a railroad In the
morning and before sunset you will run
over the edge. [Applause and laugh.
ter.
Here Mr.. Price, in glowing language,
painted the greatness and grandeur Of the
country, eliciling continuous laughter
and applause, and this response (ironi.
cal) from Mr.. Kelly: "Big as the country
Is, the American eagle can flap its wipgs
over every acre and scream defiance to all
creation"
Mr.. Blair IN. H. coniroyerted Mr..
Kellys historical allusion to Eugland,
and asserted that the troubles Of those
times did not commence until after the
actual resumption Of specie payment.
MIR. Harrison deprecated the tone Of
Mr.. Prices remarks in 90 far "a
they assumed that this country was not
subject TO the same general laws Of trade
as other countries. He advocated the
passage Of the bill. As to the areumen;
Of plighted faith to the bondholders. he
said there was no respect for tho faith
plighted to the people. There was an im.
piled obligation on tho government TO
protect the laborer and poor man. II
this thing went on he prophesied that the
people Of the Weat would never submit
TO the people otthe East in rObbiug them
for the sake Of the bondholders.
The subject went over until tomorrow.
Mr.. Blount, from the Committee on
Appropriations, reported the naval de.
fcit bill, and said he would ask action on
Y as as soon as the army appropriation
bill passed.
Mr. Page presented an address Of the
q NJ l..