The crisis. (Chillicothe, Livingston Co., Mo.) 1877-1878, 1878-02-14
THE NEWS.
xiv. CONGRESS-.


tionaI Pacinc railroad and telegraph COM
pany, Mr.. Chaifce presented a petition Of
the citizens of Colorado, favoring the pur-
chase by the Government of all the tele-
graph lines Of the country. Referred to the
committee on postofllces and post roads.
At the expiration Of the morning hour the
consideration of the silver bin was resumed
and Mr. Beck submitted an amendment d.
recting the Secretary Of the Treasury to
purchase from time to time silver bullion
not less than S3,000000 per month, or as
much more as can be coined at the mints of
the United States, the United States to have
the benefit of the gain or siegnorage, pro-
vided that whenever the market price of
silver bullion is such that it cannot be pur-
chased at less than par in legal tenders, he
shall give notice of the fact, and then any
citizen of the United States owning bullion
may deposit the same at the mint and have
it coined. The amendment further pro-
vidCs that subsidiary coinage shall contain
the same relative quantity Of pure and
standard silver as the silver dollars. After
Mr., Beck had explained the amendment
briefly, Mr., Bayard spoke in opposition to
the bill. He argued that the passage of
such Il bill would lead the American peo-
pie TO still greater disaster than they had
| yet experienced In their financial policy.
All measures like these would only revive
and expand the very evils from which the
people now sought relief. There were no
troubles as serious as those which accom-
panied false system Of money. He spoke
in favor of stable currency, and said
we should have Il currency which would
circulate everywhere, and maintain fixed
value everywhere. He believed but for the
present agitation caused 10y this silver dis
cussiOn, the minimum gold coins of our
country would have begun to make thir ap
pearance and so all doubts as to fluctu-
alton would have ended He then referred
to the action OF England, Germany and 9TH
er European countries in regard to the
adoption of the silver and gold standard,
and read recently published dispatch in
regard to France suspending the coinage
Of silver
Among the bills introduced and referred
during the morning hour in the House was
one by Mr.. SOuthard, authorizing the pay
ment OF customs in legal tender notes; and
one by Mr.. Mills, providing that all bonds
hereafter issued by the government shall
be payable, principal and interest, in
gold silver or legal tender notes.
Mr.. MacMahan moved to suspend the rules
and adopt a resolution reciting that in The
present condition Ot public distressi it is i'm
pOTtilpt that the wealth Of the country
shall bear fair proportion OF the burdens
of taxation, and instructing the comittec
on ways and means to report bill Mt the
earliest practicable moment, imposing Il
graduated tax on the excess of income
above reasonable minimum, to be tlXcdhy
law. Defcatcd-ycus lGj, nays SO; less than
tw0-thrds in the affirmative. The ailirma-
tive votes came chiefly from the Democrats,
and the negatives from the Republicans,
Mr.. Ellsworth, referring to the position be
took on the tin-t. in the matter of charg $
against the dOor-keeper, presented IN aili-
duyt from the dOOr-keeper, denying aS ut
tcrly without foundation, the charges
against his official integrity made in the
afIldayits Of Mcssrs. Corycll and Duffy, and
earnestly requested an Investigation on the
part Of the House.
Tn +bo coroto on tbo Gll, tho Snnotn
M vnG oi ,l iagi,.',,, ,n,.i,,-s
Pun ~ peli,i , I,. m NJ , "f Iii
p"i'N9 W ~, ,i, ,iil ,i,', r,rir,, bau,
uIi, ''it. "i'ti W Ca. ,e
WIN ,, W ", ,u n ~ H. f,t0
sun. "iI .nri Imull"i ,t III Ill.,
IurIcoi. pr hti iilur'tHn nun ,t gIi ''o,', o, Of
anu solI u'su VLcn ', tllo i'at''''V ho,.
Ihr "ui'u M .Ii tlIou9''n"T I'. a. H. S,s.;t,tinr
M M n.ao .ilo .I iiU,,In t,in VI 49,, og ,nI
Inty WerS tic lutaille ".IL' @ iri,j o ~ g.
s,' t',, arin,' ~ iInnondnn mill
ltH.u .iv ,',ti.,nd III ,nistnl.o and
Al!Ncr "nS TtllloIcliHv" ~ az
} without the Rhowledso Oh tne Peoplo, OF
CongrtHs' pS an @ pnti, rnotn u, ,'o sntcI tC
st!,ucsl'n loti pun ~ iGV,S az ,,,d si,.o,
PcTIoril. Sllo vi NV l,o
uorS eii", S
majority ol llc human hi,'"li
"ciiuIai anu nlnS ,i tIutrlolui ,,ii ~" PLnIr,ii,
calcu llte luoueg VI w Pouplt, ~, tn ti,
circumstances II lOlloWs Ilihl w ~ ~
Of PROOF r3StS on thoSt WIZ tuS'n, ,..., W."
4 sllVer shouiu bG uuihohelHGu; ~ II "' III, III
that 10 rehaplttate 'o uUi,nI Iii, orodinIr
gIelhs Woui1 uolruuu 'llo ,uul,U T.. =,
e inns cHnhot uo lIue' loI WV 'S'lLL az. 10 y
pay IN ei'het HoIu OF 2lsNrt' VI 'Iu Ia
arI 'alne OF lhe Uhlteu on vuiI ,,,, ii,i,
Il loiU, When lle SILVER ao,;", Mna tI ."' E
=, tender with the flSht "l uhiiiill'Eu tutn .II
: age, and 1t Is simply imposslpi" tHat lh'
3, crtdtor performing ms ,I,,
g mo Dy Doth parlles' put WIN tu'' NY NV
u euSe OF lts terms uuu clcvl, "a" '"' Il, ~
). he gully OF lrauu anu ulsuouuli p,'' ~,
houses OF congress nave ny oNcI"tleiiL.',, INN,
. mul0rlties ueclucu Una. no ai auyu 'liHii iii
e would be perPetratrH Oy I"Hi5miE pull
creditors IN silver dollars OF tlZtG er"lhS
II remQneti2ing S,Vcr VII prlls II 70 pa W"
with gold tho Pupllc rIeull0f GuhhTV ,VSi .t5i
1t Is said that TO com silver uo,'ara ol NJ
grains ana MAKE H. II iull ltEti IuHu'
would delrauu lhdlNiuual Cre"loI7 VII
o have loaned money or aoId properly I
sc other lhdlNiuuals since si,Sgr W. VI mn
- tizcd, that Is since June ZZu' lo,i' IhtS
% a great mistake. Every creulior OF th
II
Ie to receive greenbacks in payment uhles
h his contract expressly provides Tor pay
1t ment i'm metallic money ana theSe eMN M
Is ceptional cases: are not aIlecleu by TN
K bill under consideration. NOW no one,
I. think, doubts that if the coinage oil me d2I
-, lar OF 4l2ta grams oe res'oreu' nliu I, IT. IT,,
Is made tull legal tender u.s. Nalue Will pe u
ID least equal to that OF greenbackS. Hence
g no possible injury to the Individual cre1l
n tor, such as above supposed, can occur. !
1t as has been asserted the average duratl2
Il Of individual debts in the United States
T. two years-l think it is lesS-then II is , as
O. to see that the passage oil tis pls caiiot IL
" jure any considerable number OF credltor
w If indeed it should inJuro anyone lor II
le certain that in the next two years not oy,
20 fifty millions OF silver dollars could ne con
+ cd, and nearly all such dollars would ne az
" sorbed by the payment oil customs dutl'
'u and would be used for nothlng else IL
f hut