The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1877-11-08
FORTY-FIFTH CONGRESS.
WAsHISGToE, November :.
HOUSE.

ing the regret of the House at such resig-
nation.
The regular order Of business being
then demanded, Mr.. Atkins said that the
Committee on Appropriations did not
desire the consideration of the army bill
to-day band the Speaker declared thst the
regular order was the consideration of
the bill Tor the repeal of the resumption
clause.
Mr.. Gardner then proceeded to
address The House in favor
OF repeating the resumption act
In considering all the provisions of that
act together, ne was led to the conc.u-
sion that its object was to substitute tor
outstanding currency subsidiary silver
cola and National bank currency after
the first OF January. He claimed that
the tendency OF the &c. IN force was the
rapid contraction OF the currency; that
that meant rapid depreciation OF values,
and that the consequence of thai must
be general bankruptcy OF the active busl-
ness men of the country. Entertaining
such views, ard believing tina: IN a.
tempt TO enforce the resumption act
would result in speedy contraction
OF the currency, and that ruinous
consequences would necessarily follow,
he WAS in duty bound to vote Tor It's re-
peal. In doing so he did no. mean 10 be
understood as being opposed to resump
ton, or as being in favor OF lLtlspOn.
Mr.. Cox. o. Ohio, agreed with MS col.
league Mr.. Gardner in many o. his
views, though not IN his conclusions.
He Cox concluded that being re-
sumptionlst in principle, it would be
wiser TO amend the law So rs 10 reach the
conclusion which Its friends were aiming
II rather than repeal it entirely, and 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 ms amend
ment proposed to-day. He had offered
hi amendment rs means Of coming TO
sn understanding about resumption.
Party lines could not be drawn on such
n question. Could not those who agreed
on the policy OF resumption agree on the
method of bringing it aboutt II those
propO ed by him were not the means, let
the right means be shown. | am entire
" free to say, rcsUmptlonIst rs l am, that
ii the people Of the UnIt.d States lwhO
hold the whole amount OF the currency
say, through their representatives. IN
Congress, that they do not want the
government to psy II in 1880, or 1880,
or At any other time they nave III abso-
Lutte right to say so.
Mr. Riddle followed in favor OF the re-
peal OF the resumption act and substun-
tial equality in the imposition OF the bur
dcns and distribution OF the benefits ol
the government.
Mr.. Price said he had voted TO take the
bill out OF the morning hour, not because
ne believed in the doctrines OF the bill,
but because he was opposed TO anything
ike gag law or oppression. The discus
SION of the question was one which agi-
tated the whole country. The statement
that two hundred and thIrty-three Ma
tional banks had voluntarily gone out of
existence, bct because OF the passage Of
the resumption act, but because the Taxa
tion of National bank property WAS
greater than the tax on other property,
led to discussion with Mr.. Kelly
and others.
Mr.. Kelly SAID: The National banks
of Philadelphia have just declared their
semi-annual dividends, ranging from 3
to 10 per cent, and have been adding to
their surplus and ore ofthe national banks
recently made, not an annual but an eX
ira dividend OF 100 per ceLt. The taxa
ton which allows such profits is noG OPP
pressive or calculated 10 drive capital out
Of business.
Mr.. Price, contiruing, said: ! want
the country to stand by Its promises. II
we are true to ourselves, we will accom-
plish all we have promised, and we shall
continue TO be what we are to dsy-the
admiration of civilized world. APP
plause
Mr.. Kelly-Was it not the argument
of Messrs. Peel and Ricardo when the
act of 1919 was passed, that ss gold and
paper were then 81 less than per cent
QlueIeuCe, II WINS iASlS IANa-''H N'
from to 5 per cent. to be defused over
four years? Whist was the result Of the
overcoming Of that 3 to 5 per cent?
Values were reduced 20 per cent. and the
elder Peel said 10 his son, Robert, "you
hSve made fortune for your family, but
you have ruined your country Three
per cent was enough TO DO that.
Mr.. Price-I do not know anything
about the elder Peeps opinion, and do not
care much about his son. live IN the
afternoon OF the nineteenth century, and
am leglslstlug for the people who live IN
the afternoon OF the nineteenth century.
While values in England at that time
may have gone down 90 per cent, values
here have gone up, because gold mas
zone down from 2SO 10 lO3. Do not
compare this country with any other.
There is no place 10 make country 20
compare 1t with. Laughter. II Eng
land YOU may take the railroad N the
morning and before sunset you Wi, run
over the edge. Applause ard laughter. ]
Here Mr.. Price IN glowing language
painted the greatness and grandeur OF
the country, elicIting continuous laugh
ter and applause, and this response
Ironically from M Kelly: big as
the country is, the American eagle can
flap is wings over every acre and scream
defiance 10 all creation"
Mr.. Blair, Of New Hampshire, contro-
verted Mr. keily's historical sllusion to
England, snd asserted that the troubles
OF those times did not commerce until
sner the sctual resumption Of specie
payment
Mr.. Harrison deprecated the tone OF
Mr.. Prices remarks IN 80 far 81 they as
suned that this country was not subject
TO the same general laws Of trade as
other countries, and he advocated the
passage Of the bill As 70 the srgumen!
Of pIigh,ed faith 70 bondholders, be ssid
there was no respect Tor the isith plight
ed TO the people. There was an implied
obligation on the government TO protect
the laborer aud the poor man. II thIi
thing went on, be prophesied that the
people Of the West would never submit
to the people OF the East robbing them
for the sake OF the boudholders.
The subject went over till tomorrow