The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-01-24
CAPITAL NOTES.
CONGRESSIONAL PROCEEDINGS.
The senate.

WASHINGTON, Jan. 2s.-A large number OF
petitions were presented by Senators from
ngainst the. reduction of duties on certain
goods and the restoration of duty on tea and
coffee; , heerrea =, M to the commitee on Finance
Naval Affairs were discharged from the further
consideration OF the question Of the legality Of
the navy, and the Comm ttea on Judiciary now
having the Runkle case In charge, was directed
so m make s. the inquiry; lg Tyy;.,,. 49,,
e provide id Tor the removal OF the Naval Observa
OF the morDing hour and laid over,
Mr.. Blaine introduced a bill to authorize the
coinage q silver dollars, and to make the same
legal tender. Ordered printed and laid on the
Mr.. Cockrel resumed his speech, INTERRUPTED
ny the adjournment on Monday, In support of
the Legality Of the payment o. the bonds of the
cised the action of the Secretary of the Treas
nry In giving assurances, that the bonds would
pad T. goda ana q Sa II ,n1 drec yon Of he
glye its sanction to the assurance s he had given
while he gave these assurances he was careful
to adhere to law in issuing bonds. and they
asserted that the bonds should be paid in the
Mr.. Coekrell concluded his speech at y, m.
the ground that the government had a legal
right TO pay the bonds and the interest on them
II gold or silver and It was bound to pay bonds
said that before he had finished his speech If
would be found he was in accord with the nd Va
Gates of single standard.
He argued that the gold stardard was adopted
OK dehtor nation Tor the parpose of securing
loan AM 9i sn money M on the most favorable terms
large sums of money had been obtained only by
me insertion ls. OF stipulation that gold should
ae PAID i would q IN he end be Of no benefit to
would react upon It's future RE credit ae2i n SVef as
He did not believe that the burdens of the
relieved nfi i1nfinp
81 silver. Mr.. Randolph quoted from the re-
marks OF Messrs Potter and Kelly In the House
niueration, and the recommendation of the
secretary OF the Treasury recon mending the
single STANDARD to prove that the effect Of the
He denied that the act had been unwise and
s,ai sald 4 was purposey done in the interest of
the best bargain we could to settle our obliga
tons. He eensidered the double standard not
only inexpedient. but impractieable. Dealing
WITH those with whom we have been dealing
England, Germany and other States we could
not n afford to disregard their wishes. If taken
Abroad abroad our, our silver dollar would only purchase
ninety cents, worth on gold basis. He con.
tended that the deprecated currency would he
@ used to pay for the American productions for
thirty-two TO thirty. three millions while i'm
ports would have TO be paid for In gold
ne spoke from practical knowledge when he
from important American enterprises because
/ q z, this debate. He could not understand how
w cVuiu py any possibility be claimed that
po ness issued since 1873 were payable in ANY,
tning but gold. Bonds, he said. to the extent of
Inundreds OF millions. were held by trustees Of
estates. hy widows and orphans. and by savings
nanks ts with their $50 600 depostors. These we're
lbs ,a; seoated bondholders. The school fund of
mis- state, considered by all creeds and noliti-
8eians a. sacred fund. were invested in bonds
aoI Ine Unned States Had his people no fnter
4 81 ia coin Tor the payment of these bonds
u mir. Lamar was recognized but gave wav for
IN molten BY MIR. Ransom for an execu,ive ses-
|sl9n; pending which Mr.. Conkling endeayored
fo have some hour fixed for a vote on the reso.
|gufion. and suggested that 8 o'clock tomorrow
|be fixed as the hour,
Mr.. Morrill, said Ii that covered the vote on
she amendment. he objected, as his colleague
desired to speak on that, and he had nm amend |
Briefly. Ao 'po"h On
Mr.. Merrimon said there were. he knew. sew.
|7ral gentlemen. who desired to speak on the
resolution. and he hoped no vote for to-morrow
ITnuid be agreed on. "
Mr. Allison thought the speeches could all be |
aade on the silver bill. IF vote could NOT ba
aq Tomorrow. let one be had next day.
MI Bayard thought If the resolution and the |
&3lver OIL were tabled that debate could he
Eontably continued He hoped that ample
ne would be given for debate on a measur re of |
IN Imuea . interest to the American people.
faf. thurman advised an early vote on the |