The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1877-11-23
IIOISE.

The following bills were introduced
and referred:
BY Mr. MiIls-Authorlzing he Secre-
tary OF the Treasury to pay to the owners
the value of all cotton seized by the
treasury officials since May 30, 1865
Also for the payment OF ali debts con.
tracted by the government In certain
States since the close OF the war.
By Mr.. Frsnkn-For the orgsnIza-
tion of the territory of Oklahsms.
By Mr.. Davis-To exempt steam
plough machines from the payment OF
duty.
By Mr.. Stone, of Iowa-Cresting pos
tai savings banks.
Mr. Crttenden asked leave to offer
resolution calling upon the President Tor
information as TO the failure OF the Union
Pacific railroad 10 operate It's road and
branches agreeaby TO the provisions OF
the several Pacific railroad sc.s O0-
] cted TO.
The deficiency bill was then passed
and the Speaker stated the special order,
the bill to repeal the resumption act, now
came up, and the gentleman from ONO
Mr.. Ewing, was entitled 10 an hour -
close debate
Some discussion ensued and Mr.. Ew-
icg then began his speech. lie said
I. was characteristic OF popular gov
erLment that the people gave their eH-
elusive thought 10 one leading subject.
Thus before tie war slavery WIS the con-
trolling question. During the WAT 1t
WIS, how o maintain the government
Since then. it was how 70 govern the
southern States. Now, il Is the question
Of debt aud currency. II would have
been hsppy tor the people 1t they had
considered these questions earlier. Ihey
woald have been saved, among other
things. the passage o, the act OF repudIa-
ton and extorlion OF 1863, by which one
thousand SIX hundred million dollars OF
the public debt WAS changed 10 the detrI-
n.ent OF the people and tc the advantage
of the holders OF public securities, with
out consideration, TO n sum not less than
five hundred millions; and they would
have been saved that steaLhy and
rascauy act for the demOnet,za-
ton Of silver and the crownlag
scheme OF the money power tor
the oppression OF the people, the resumP.
ton law. he went on 20 argue that when
the resumption law was passed the vol
ume Of currency in circulation wss only
S733.OOOOOO, and that was only $3.50 per
c.pI,a more than was IN circulation Do
1860, which his colleague Garfield had
neld Up TO their admiration ss year Of
sound business and sound money. Ihs,
act had put in the hands Of the capital
its the control of the industries OF the
government. Proceeding - discuss Sec
retary Snermsu's construction OF the law
on the subiec. OF reIssu,ng legal tender.
be said that gentleman was very apt 10
change hl. views, because, IN 1865,
be told the people Of ONO ila;
the payment Of UuIted States bonds IN
coin, while oa their face .hey were . be
10 lawful money, would be rePldIsiion
and eXtOr.iOu, and vet within Elk months
afterwards he hsd reported IN the SEN
a,e THAI set Of repudIa.lyn and e1tor.on
u, SLY labelled "An act 20 strengthen
tie public credit. II l. were fos-lo.e,
Mr.. Ewing continued, - substitute
S3j4OOOOO o. gold for green backs, sad
i, that gold, so substituted, would remain
in circulation just g. greeuback money.
there would be 10 very great mIsclie!
done bv the resumption &C., further than
= useless increase Of the bonded debt 20
1854 100000 But the trouble wss there
was Al sltemp. 10 make the t55i,OyOOvO
IN gold take the place Of green back
money in the currency, which was ~
terly impossible Cold could 10:
remain in cIrcu.s,Ion in the present con-
di,ion Of the country, snd every green
back redeemed was go much Withdrawn
from the effective currency and its pro.
portlonal effect WAS reduction ci
values. He said before the greeuoacs
ers there never has been kept saost n
/ this country more than S2l4,COO,OOO paper
money with SZ84,OOO,OOO coin and low
with S73OOOO,OOO paper money there
wss not $3.50, 600 900 il gold in the United
Ststes. Since 1860 the mines d the
country mas produced Sl,Z5LVVO,OVo oi
precious metals.
Where hiss sll the gold and SILVER