The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-01-25

thing can only be accomplished by the concen-
trntion OF Southern strength. and 1t needs no
argument TO show that New Orleans is the nat
ural point of concentration. BUELL.
CONGRESSIONAL PROCEEDINGS.
The senate.
WARRINGTON. Jan. 24.-Mr. Lamar. ut the close
OF the morning hour, proceeded to address the
Senate on the silver question. opposing the re-
offered by Mr.. Morrill,. As neither. presented
the same Issue he opposed both, He did not
think II wise t? formulate and declare opinions
before legislation. He would hear every argu-
ment and proposition before he formed a final
decision on question of such momentous pur-
Neither did he approve Of the proposed plan
of rsmonetization. He thought there were sew
eral plans of demonstration. and that some
ards could Pc more hafmo onio0sly blended. He
favored silver dollnr that was equal to gold.
He argued that the effect Of the remonetization
eod and drive It out q The country for the pur
, SsId n y vas ths superior mstAi then why should
outl such. be did not suppose, was the design
nf the silver bill but such would be the effect.
He did not understand that the bill was urged
fora permanent measure, but. one of pre- sent
relief. TO increase the volume OF the currency of
the country. which had been ruinously con-
He said It was not true that the present dis
tress was owing to the absence of silver, but it
was well established fact that money was more
plenty In those countries where silver was de-
moHetized than In any other countries In the
world. The amount OF money In country, he
maintained, did not depend to any great degree
upon the decentralization. or remoDetization OF
silver The supply was regu ated by the de-
mand, and when one coin went out the other
II. as IL was claimed, the issue Of silver was
needed TO eounteraet the contraction necessary
% II the process e Of resumption. you'd It mot be
experiment, the, result of which could not be
told till 1t had been tried2 He bad not advo-
are now very near the point where resumption
Then gold viii cease TO be u commodity and 60
duction OF the silver dollar would prevent this,
and make more disastrous contraction than
The south, he said. had great interest in the
were sold in Liverpool. and The " market @ edat there
Compelled 10 sell at the gold 3 % Prices. While H Te lie
annual expenses Of production had to be paid
for at the inflated prices OF an inferior cur
He also took tho ground that bonds issued
prior to 1879 qoud pc paid at th9 option ef The
81 uea ser febraer DSs ha se
paid In gold. Whatever may have been the
wrong. or the party that enacted that law, it
country was bound to stand by it. II silver was
TO be rehabilitated.. 1t might be put back where
" was, In law and fact. before It was demone-
tized, and made the equal OF gold.
Referring to the allusion made yesterday by
Mr.. Randolph TO Mississippi's act of repudia-
ton. he said that the public mind was SO i'm
pressed with the idea of reputation that he
was almost without hope OF ever removing It !;
pul Mlssissippl never refused TO pay o debt sne
ma eongractea or the benefits OF which her peo-
te.a 2te naa s reeelyed by ne constitution of the
0tate sno creult 91 tne state could not be loaned
a,Aeept py IAe actiQn OF one legislature vote OF
ine people and tnen action, by o. subsequent
tk tteksslaeale me hot tnIouRn Wn1en this odium
M irsslcnsu 10 nssIssippl was only passed by
0ne leg lsla,,uTe ana was never acted on by the
ETip ah ahn ny " a Went 70 prvae insu
lar. The capitalists were thus warned that the
~ W"s uneonstltutiohaL ,
8 Vt. handolpn sald it was, evident that the
Hsna'oa ha ana nimseli reierred TO dtherent acts.
Bank bonds. while he Mr.. Randolph had re-
recognized and interest paid by the State from
1882 70 1852. and afer. that the payment was re-
iused Ps . rne asti9n ssi ~ 2. OF a her people: a..
tcrs Bank bonds that the odium attached to the
state but he would not stop now to discuss the
Planters' Bank bonds.
mr.. Lamar proceeded to argue that the In
serests OF the South were not. different from
shs and tbs said she had
the North. He closed with eulogy of the lead.
ing statesmen OF the South, and quoted from a
speech In the Senate by Jefferson Davis In
which ne admit ed that the power had passed
country In ts infancy and have 1 Sog we ~ TOOK the
it Tor sixty out OF seventy years. and now turned
y over witn3at .p SPOT or Flemish. Time would
Snvm ds % mnas @ ane No.tn would 90 with 1t. but no
umo cSouin ulm our glory or diminish your re-
spM9nsiuilty.