New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-11-15

dared Ia utter anything that subject which hay'
not considered. II had the time could ex
pose the fallacies tho msstatemente, the errors h
nonsense ~ the last speaker fMr. Felton,, so ine
who is capable OF forming an honest lun,ela
opinion on any great question possibly make any
i~f axe about It, There never was in discussion W
dehcralye body, as mas peeh sho"il ~ Ii' nm 81
that spirit which VIII surely destroy the integrity OF b<
nation, much that was absolutely wrong aosontcy
Unous, and leading only to utter dshonor lApplauSe
on The Republican side ,..,,,..,,.oo,od
10 HIM extremely unwise that the two great questions ..
specie resumption and the RECOMMENDATION az sliFer
should he brought final action without That dcD
craloi when appertancd 10 natl3nN lc<.7a,io . ,t
act fixing date for specie resumption. he could mol ht
believe to be niudcOus but the date having been Nc
the currency approxlnating gold In value tne n0n.a "a
the Government having been given that on tat nate
would fulhll its obligations, 10 crush al that X nlsl
blow would shock the country is centre. His appeal
AS a member Of the Banking and Currency COLnmlttoe
was + tie rational honor and national ialth.
Mr. BACON (Rep., n. " said tha he was for resump,
ton. pure and simple. and was for the maintenance OF
rency during last three years than It could make
profitable use Of Contraction instead Of imitation was
what the country had needed The country was no" IN
MI. TOWNSEND (Rep., " " said he understood tho
the country and its prosperity II and after the lst
Of January, 1879, the Government paid It's bills specie
currency They were Told that tbcv were rlInrg The
laburing man and running the business man,
If they gave him currency good az gold. Those who
said so cheating and deluding The aborng men of
10 the silver question: he would vote Tor bill properly
guarded to ssu" nity millions 81 silver CON, bur he
would give the Government the profit OF the coinage and
would not egsatc money INTO Tie pockets oi Jones ana
Sharon. Flood and O'Brien lIaugnterl some people
had got into the habit OF looking upon the Government
the common enemy Of the country Bnt the Govern,
ment stood a. e concentrated po"er OF mem a. ana
should not the Government keep ts promises 10 ls own
citizens II 1t did not, who WOnld De ne s'H5it
Woud it be the national hanksi Woud u be Tue Dna
hOdersl Oh no the abOring man would nave 10 take
his money i'm greenbacks. but the BANKS ana te Oou-
holders would sim get their interest ld IN Co re
L.. ~. flt. ffar
there were some three fOur hundred millions OF
bonds held by. the sayings banks ana Wy ,Ed
DOOR and vet II was sought to destroy tLc
security by which the poor man had secured - NJ
within "a hairs breadth. The national IMPORTS OF ast
year bad been es- than he exports by Sls3oOOOOo 10
by some eight per cent. The crops of tns year would
next year bring S25OOOO.COO from Europe, ana that
Nj. cox Dem. y. " asked Mr.. Townsend whether he
considered uat The passage OF he SILVER IN was or "s
believe that silver coin ace oriing 20 the Conoli
ton and therefore, that the public deb. could % PAD id
Mr. TOWNSEND replied that when the bonds were ne
gotdtcd both silver and gold we're the com oG me coun
uy. He had DO doubt Of tlc moral and pOnuca ptopr-
ETY. Of paying the national bonds and private debts con
tlaccd before 1873 with what was me CON OF conn
try a tie time when those debts contracted m he
favor of coming liver % an unlimited extent
MT. DAVIS Dem, y. Ca said that nc : ln favor OF
the coinage 0i SILVER and 100 such quantity as woud
suffice 10 pay an private and National debts The policy
o contraction o. ,e currency had been the policy which
para, Zed labor aud industry and Lt'Ipis-iue
policy which had brought poverty and disaster uruu he
country AMI want and starvation upon thousands and
thousands NJ lltur'rS.
Mr.. STEELE dem, Y. @ concuTed n I'll that had
been said by his colleague H. dcuad being rcIuda-
'io is ~ Was in ia}or OF paying Tho creditors of the
country according 10 the terms uOWHtcd ia the bond;
but he would agree to any financial system which
forced tie resumption 0 specie payment Tor the benefit
OF only one class al he people
Mr.. REAGAN tDtu., T"y.) believed that measures
should restore the country 10 prosperity, and
tA'ng that the bal under consideration tended III mat
direction.
Toe matter then went over without action, ami the
House at 40 adjourned