The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-03-07
CONGRESSIONAL PROCEED
The senate.

In favor. OF the construction of the Texas Pa
Mr.. Thurman presented a remonsrance
agalust the reimposition of the income tax.
MI pamelron f l Of Wsoonsn presented q me- e
vor OF an extension Of time for the completion
of the Northern Pacific Railroad.
Der OF Commerce OF Memphis asking subsidy
and liberal mail compensation for carrying
mails to n steamship line between New Orleans
and Rio Janero.. Referred
Mr.. Paddock from the Committee on Public
| Lands, reported q resolution authorizing that
commi lee to eend for persons and papers and
employ stenographer, in examining the claim
On motion of Mr.. Mcmillan the Senate took
Worthington and Sioux Falls Railroad Com
many to extend lis road into the Territory of
Dakotn to the village of Sioux Falls. Passed.
Mr.. Morrill, statng that he was too III TO be In
the Senate and call UP the bill providing for Il
commission on the aeoholie li1uor traffic. but
| he hoped to be able to do so To- morrow
The Senate resumed ns unfinished business
the bill to provide for long bond for invest
MIR. Oottrell moved to strike out the words
in coin" SO that clause should read redeem.
ale hfy years, from The date Of heir issue
'oed to specify that bonds should be paid in
ANYTHING else but money. The amendment was
| rejected.
| Mr Dorsey offered an amendment making
| legal tender notes receivable at par for the
bonds, provided for in the bill =.
lis
fering from the policy Of tho government
which the bill did not propose to change.
The amendment was rejected.
Mr., hon thought there were some objection
| able features in the bill He was opposed to paY
ing the work men and women in this country, q
pay tho capitalists Of Europe. lie could not
consent to force upon the people of his State
bonds nj less rate nt interest than we would
| consent to pay capitalists abroad. He believed
| at per cent the bonds would be taken by
| Savings banks. but they could not afford to
| take them at 3.G5.
| He also thought $50 was as small u bond as
| should he Issued, There we're few citizens who
desired t9 invest In government bonds at all
Mr. Bayard reminded him that the long time
| the bonds had to run gave them a value above
that of The short time bonds and that fifty year
bonds, with their facilities lot transfer, com
| bined with the protection afforded, made the
fifty years bonds, the equal of per cent thirty
years bonds
Mr. Blaine asked at what per cent the prin-
elple of increased value by the length of the
bond Terminated It was bis impression that
| interminaby the bond of u generation was as
long. as was desirable He did not think there
"nan on be n II vsa sae
bond. He also agreed with Mr. Eaton that the
interest shoull be pes cent
lar distrust Of savings banks. and proposed
this as q substitute for savings banks for popu-
| ularr savings. He thought it unfair, to take ad-
vantage of the people and compel them to take
these bonds at so low n rate Of interest There
were those who would invest in bonds at this,
| or even lower rate. for the sake of the secu-
| rtv, but WIS 1t fair2
TO test the sense of the Senate he would move
to,strike out s.65 and insert per cent.
Mr., salisbury favored the amendment, and
thought our own people should reeeive as much
| as the lowest rate of interest att which govern
ment bonds could be negotiated with capital
ists.
Mr. Cockrell opposed the amendment, and
would prefer . per cent There were conditions
to these bonds that made them more valuable
10 nnrnn nnH iarn inIrn nt,y
| obligations bearing higher rate Of interest
than the bonds of other nations. He also
He Desired t. see tho day when the word coin
| should not appear on the statute books; when
there should be but one money for all classes.
Trust to the honor Of the nation to the honor of
the Representatives of the Rtatea. and to the
honor Of the Representatives of the people.
Mr. m1np ad that t. The theory OF
ment had tho right to make sawdust. shin
plasters or anything else money. and he was
unable to understand exactly what he meant by
the honor of the nation
Mr.. Cockrell said the constitutional limita-
tion defined what should be money, and Con
gresa could under the constitution declare
what should be money
Mr.. Herman said that this was true that prior
to laea there ERE tRs vas nohing but money known to
that time there was nothing known to the law
as money but coin.
money but gold and silver; tho legal tenders
were but government Promises to pay money.
Mr. Randolph advocated The per cent bond.
practical, prompt and efficient sale. and be-
cause nothing less would be fair.
Mr.. Allison also believed in making this OK
pertinent of placing those bonds among our
be effective.
per cent bonds. and if in replacing them 1t be-
came necessary to follow these 500 bonds with
per cent b., bond j. would depreeiate the
n rhnSgTG q the
3.G5 bonds.
Mr.. Blaino's amendment. making the rate of
interest per cent, was agreed to by vote
Mr.. Plumb renewed in substance the amend
mont to mako. gre1nbaoks reeeiv bio for the
inter convertible and Mt tho same time any ne
ceaaity TOR the the Intervention OF brokers would be
ohviAted. Tho greonbacks were to-day but / =
per cent beIow gold and all expected that they
wonld soon b. at par.
Tho amendment was adopted and az
On motion Of Mr.. Cameron. Of Wisconsin the
bill referring the, claim of Benjamin Halliday
the Gngr, Of onIm1 Nh ay wns f sknn up uod
go nto executive session. which was agreed to, |
and Mt 1896 .. m. the Senate went into executive
session. and when The doors were again opened.
adjourned
Mr.. Gibson of Louisiana, introduced n bill |
for the relief Of the families Of the officers and
seamen Of the dredgeboat McAllister, lost off
r..
Referred TO the Committee on Commerce.
Mr.. Mckay, OF Pennsylvania. from the Com
mttee on Pensions, submitted report in rela- |
tion to the employment Of Gle ks to bring up |
the business OF the Pension Office. They report |
that the Commissioner Of Pensions does not re-
quire an additional force for the Pension Office |
proper but that additional clerks are required |
in the Surgeon Generals offlcs to furnish the
mi itary records etc, OF applicants for pensions.
The report goes into a detailed statement
showing the numbec Of applic ,tions for pen
naming uudsposed of at the close Of each fs-
cal year.
The whole number Of applications since the |
war, tor pensions. is 337 s3s. and the number on |
hand and undisposed OF on February 1873 was
1s.76I. The commi toe recommended the en-
ploym ant OF forty additional clerks in the Sur
geon Generals office and that an appropriation
he male for that purpose. The report was re-
ferred o the Committee on Appropriations : (
The House lin the morning hour resumed /