The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1878-01-30
OUR BIG LAW-GIVERS
WHAT THEY DID YESTERDAY.
Beck's Resolution Not Acted on
Silver Bill Discussed I'm senate
Butler Creates "Laush.
ter" in the House.
WASHINGTON, January 20.
SENATE.

Mr.. Plumb introduced bill to repes
certain acts and parts of acts relating t
the taxation of deposits IN savings banks
Referred.
Mr.. Howe, from the Committee on
Library, reported fsvorably on the
House joint resolution accepting Carpen.
ter's painting of Lincoln and his Csbi
net
Mr.. Edmunds said that while he wa:
grateful to the glver he did not think the
picture was Of that art character which
entitled it 10 q place in the Capitol.
After some debate the resolution wa:
agreed to. Yeas, 43, nays, I.
During the morning hour Mr.. Beck
called up the resolution submitted by
him last week, ideclaring it unnecessary
and inexpedient to maintain or impose
duties, at this time, for the purpose oi
providing $3,7l9,60 ,5O4, asked for by
the Secretary of the Treasury for the
Sinking Fund, and spoke in favor of the
passage OF the resolution.
Mr.. Beck said he introduced the reso.
luton for the purpose OF obtaining an
expression of the sense OF the two houses
Of Congress upon what he considered TO
be the most important question now be-
fore Congress, and that was how could
taxation best be reduced 30 as 10 relieve
the people from the apprehension under
which they labor, and at the same time
meet the requirements of the govern
ment, He read from the late report of
the Secretary Of the Treasury, that there
would be deficiency al the end of tins
next fiscal year amounting to Sl1, ,4SS.O00
in the receipts of the government as
compared with its expenditures upon
the present basis. Continuing his
argument, he said hls object was to
satisfy the Senate that Congress was not
under obligation to maintain or impose
taxes for the purchase of bonds for the
sinking fund. He thought that he
could show where S30,000.0O0 could
be saved from the customs service, in
ternsl revenue, and the management Of
Indian affairs, but al present he would
confne himself to the sinking fund He
again quoted from the report of the Sec
retsry of the Treasury to show that the
sinking fund now contained S220, 900, 600
IN excess OF the amount required by law
for that fund at the present time. He
argued that all the pledges and obligs-
tions Of the government TO make pro.
visions for sinking fund had been prscti-
cslly carried out, and asked why should
we be so anxious to pay the bonds IN ad.
vance of our pledges and obigations2
Our bonds were high enough now and
the public creditors were not suffering,
neither was their security lessening.
The property OF the United States was
increasing in value and the public debt
was mortgage upon the whole of it..
The sinking fund was provided for for at
least five years TO come, and il seemed TO
him clear that it was the right and duty
OF Congress now to reduce taxation. he
next referred TO the passage of the act Of
March, 3, 1875, to further protect the
sinking fund, and argued that if the
same information had been before Con-
gress then, in regard TO the sinking fund
as now, that act imposing the taxation it
did would never have been passed. He
quoted from debates on that bill, and
said Dawes, who bad charge of the bill
in the Honse of Representatives had been
grossly deceived by the Treasury otti-
cials. He Beck now had faith that the
Committees of the two Houses would
reduce taxation in the interest OF the peo.
pie.
Upon the conclusion of Mr.. Beck's re-
marks the resolution was laid over, and
the consideration OF the unfinished busi-
ness, being the silver bill, was resumed,
and Mr.. Wallace spoke In favor thereof.
Mr.. Wallace said that gold cannot be
subdivided to suit the necessities OF the
people, whilst gold and silver is just to
all classes. Our policy, as people, has
initiated a. maintained double STAN
dard. The Constitution and laws up 10
1873, recognize and enforce this policy.
The demOnetlzstion OF silver by the
United States would lead TO It's dlsuse.
The disuse OF silver as money reduces
the measures Of values and increases the
value of money Indebtedness. 1t will
destroy Its use as subsidiary coinage.
1t will give the world scanty, instead
of a full circulating medium Of IN.
trinsic value. Tho use of both metals
gives healthy progress, basis for con f.
dence, value 10 currency in paper, and
lust measure Of value. This use Of but
one strikes out OF existence large part
of the worlds capital IS measure OF
value, and It is prejudiclsl 70 the progress
of civilization. There is no foundation
either in morals or in law for enhancing
the value Of the debt, and it is neither
lust nor eIpedient 70 do go, and the eXer.
clse OF the power TO adopt gold stand
ard swskens distrust among the people
and tends directly TO weaken the bind
ing obligations OF public faith.
Mr.. Ds ives then spoke in opposition TO
the silver bill. He said that just so far
a. this bill adds dollar 70 the aggregate
volume OF currency it cheats and deludes
people with false pretenses and vain eT-
pe,tstions. | cannot stop TO argue the
evils Of imitation. II any one st this day
disbelieves or doubts he must be given
over. | find it in this bill IN Its most in
vidious and dangerous form, and there
tore its passage a. this time will b
especially uniortunste and disastrous
Every attempt TO force by Law fictitious
appreciation upon deprecated value II
sure TO inAict evil and wrong on thoee
compelled 70 use il, snd most Of sll upon
the poor, who without capital are ST the
mercy Of every change.
Mr.. Cameron submitted an amend
ment 70 the silver bill so as 10 provide
that the dollar shall consist Of 420 grains
of standard silver, instead Of Az! grains
Ordered printed.
/ Mr.. Burnside submitted an amend.
ment 20 the clause, declaring the said
dollar shall be . legal tender for a.
debts, public and private, 20 ss TO pro
vide tha. it shall be legal tender FOL
sll debts, public and private, snSustir
70 sums over FIVE dollars. Ordere%
printed.
Mr.. Chris,iancy then took the floor, 4
speak on the silver bill, bat yielded z
Mr.. Hsmlin, on whose motion the Senst
went into executive session, and Shei
the doos re-oPened adjourned.