The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-11-28
HOUSE OF REPRESENTATIVES,.

WASHINGTON, d. c. NOV. 81 1877.
Mr. MORRISON, tdcm.) OF H., asked the unanimous
consent Of the House address It for few mlnutos
upon tho currency question Consent being given Mr..
Morrison went on to say that the question OF finance
could hardly be settled In short session Of Congfess
IL out Of the House now, but would speedily DO
back again. Tho provisions OF the ant-Resumption
bill TO but evasion OF tho
demands OF tho West 1t left with tho banks
tho power to issue currency, and gave
them control over tho volume OF currency.
They released from their obligation redeem In
1879, or, indeed, at any time, as they redeemed Ia
United States notes, In themselves irrodeemabie He
denied that tho effect Of the bill would be hurtiu TO
bondholders because bonds would DO paid 10 the samo
coin whether the bill passed AS usual tho
people had received all tho rhetoric and the money
power hai kept all II had aud bad acquired ad-
vantagcs and opportunities The new prctcnce
or It's third section untrue. All adj
mntcd tho necessity Of u coin basis and Of
resumption at umc The Resumption act
provided Tor II, but II In the right way right
way would have TO be provided Tho bill Just passed
provided no way and settled nothing IL SIMPLY post.
poned and evaded the question issue The financial
scheme oil tho Banking Committee built upon
notnng and woul leave to It's authors the credit be-
longing 10 "wreckers,' who butlccd wiser than they
knew. Tho gentleman IRON Onio tNE Ewins) had
charged the money power with having subsidized the
but ms was no longer necessary, now that
those claiming to be tho only representatives
oil tue people were IN their DlundcrIng zeal giving
tho money power now immunlties aud privileges all
unaskcd. rho bonded debt was on It's iacs payable
IN coin. H. after passing The Silver bill, this debt
10 be paid In gold co.n only. II should have been
stated IN tho bill and not lott to construction tho
doubtful phrase, 'otherwiso provided by contract
One OF tho pretcxts Tor the law oil 1869 which made
tho 1vc-twcnty bonds payable in coin, although on
their Taco thcy werc payable In lawful money, had
been that agents OF the Treasury Department had
''othcrwisc provided by contract" lie hoped
that no room for any such prctext mad
effects OF the had been got rid OF IN the South
It's material effects ought DO got rid OF throughout
the entire country Tho present money system had
been opposed la It's beginning by all the abicst demo-
Gratis IN the country. IL was not Ike that OF other
commercial nations II was condemned by the WIS
dom OF the fathers and by the experience OF other
countriea Hcwould vote Tor bill that did not look
al some time 10 resumption and TO q basis Tor
currency and money.
Mr. SINGLETON, tdcm.) OF Miss. charm n Of the
Printing COMMITTEES reported rcsolutlo on providing
Tor tho - intlDg OF ~, 900 copies the testimony
taken ny the Monetary Commission together with tho
reports, Tor the use OF the House.
Mr hewitt tdcm.) OF N. ", said that, ns far as he
had examined the report OF the commission, he he'd
iound II 10 DO one-sidcd docn mont and therefore
moved 10 recommit tho resolution to the committee.
Mr.. BANKS, irep.) OF Mass, thought ~ the report
was onc-sdcd, The best 10 correct u Was TO adopt
wero acquainted with the other side
Mr.. HEWITT said he mad been informed by gentle
mnn who bad testified before the commission That no
had repeatedly cndeavorcd TO correct hts evidence be
lore IL was printed, but was unable to do so.
Mr. BLAND, tdenn) OF Mo, inquired tho nano OF the
gentoman.
Mr. HEWITT said IL was United States Mining Com