New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-05-07
CONGRESS---IId SESSION.


United States Ordered printed and to lie on the table,
He also laid before the Senate the House bill TO forbid
tie further retirement OF United States legaltender
notes. which read by title in order that might Do
| referred 10 the Committee on Finance.
Mr.. COCKREII Dem, Mo- objected to reference, ana
moved that the bin be read second time his object be-
ing TO have It passed without reference to the comne9
Mr.. MORRILL, Rep W objected to the Secohu re"u
| Mr. MCDONALD Dem, IudJ presented petition
erai John c. Fremont be included in the bill now pend
ing to place General James shields on the retrem nSt
Of the Army. Referred to the Committee on MiItaEy
Mr.. CoCKRELL DEM, Mol presented resolutions Of
| ate and unconditional repeal Of the Bankrupt Law,
Similar petitions from prominent bankers mer-
VILE were presented by Mr.. ALLISON dep, Iowa., MI
WALLACE Dem, Penp.l, ana Mr; BEN Dem ~,
all Of which laid on the table, the Dill nc" Doing
| before the Senate. ,
| General james Shields; from NewY0rk, Philadelphia,
CnicagO Cincinnati and other cities iayOnng the pas
sage Of alaw giving permission to all parties ana com
pancs TO land Telegraph GAMES on thc SHORES vi lh
appropriation for the Improvement Of Harlem River
and from the Engineers Club OF Philadelphia, tayorlng
the continuance O the appropriation TOT tue estnS Vi
| iron ana steel.
On motor OF Mr.. THURMAN Dem, Ohio tie Senate
then took up the bill to repeal the Bankrupt Law Dut
laid II aside informally in order that the morning Dus
Mr. SARGENT ClSep, CALI, from the Committee on
Appropriations, reported with amendments the House
Mr. ALLISON Rep., Iowa.. from the samo committee,
reported with amendments the lndiAn Appropriation
Bills were presented and referred for the relief OF the
Evansville, Caro- aud Memphis Packet Company; to au-
%n at New San DECO Cai to provide for paying
advances made the United states by the state OF Mary
land: 10 amend tine Revised statutes III regard to pun
hment for cOuncreting the seal OF the United states
or OF any department Territory thereof; and TO eN
tend natent granted TO Avah r. Smith.
The Senate bill to regulate the foreclosure OF mort
gagesGnd deeds Of trust in tue District oil Columbia was
indefinitely postponed.
BRIEF COMMENTS on THE BANKRUPT LAW.
The Senate then proceeded with the consideration of
the bill to repeal the Bankrupt Law
Mr.. DAVIS Ond, Tl sent to the Clerks desk and had
read telegram 10 him from Field Letter Co., Chicago,
who he said the most extensive merchants west
Of the Allegheny Mountains, fayorlnG bankrupt lazy:
be amended postponed until tho next session VI Con-
Mr. BECK Dem. XVI moved to amend the amend
ment reported BY the Judiciary Committee by striking
the words January ], ls19 ana inserting IN lieu
| thereof, " from and after rs passage"
| Mr.. MCDONALD Dem. Ind sent to the CLERKS desk
aud had read TELEGRAM 10 MN ~ IRON DanSsrT, Ig.
opinion that the present Bankrupt Law had been an en-
Mr. THURMAN Dem, Ohiol argued that the amend
Of Mr. Beck, strike ont certain words and insert
others, would prevent any further amendment OF tat
clause In ordc. That the Senate might not ne concluded
by the amendment adopted, he moved 10 strlAe out
January ana insrrt September as the time "Aeh Tie
Mr' MERRiMoS tDem, y. e. said the Senator pre-
seutcd strange attitude toward this bill Every sena-
who had spoken on the subject conceded the ntces-
slty OF bankrupt law IN tins country, ana yet ne
proposed 10 repeal this law without substituting any
hnz IT, which did not strike him az being very con
ssteht Congress should shdray9r 70 eseGt tue eAiit
ing law. He had received many letters from persons IN
his state urging the continuance OF the Bankrupt Law
GORDON ON SPECIE PAYMENTS
Pending discussion the morning hour expired, and the
Senate resumed consideration Of the bill to repeal the
Specie Resumption Act upon which Mr. Gordon Dem,
Gal was entitled to the floor.
Mr. THURMAN Dem, Ohio moved that the Specie
Pesumpton Act be postponed IN order that the Senate
might continue consideration OF the bill TO repeal the
Mr. Thurman then consented that the latter bill be
laid aside informally so that MI Gordon might ADDRESS
the senate IN favor VI repeating 'he specie Resumption
Act. ,.,
had bills ready, and that they would be called UP at
the earliest opportunity,
Mr. GORDON Dem.. Ga) then spoke IN favor OF the
repeal the Specie Resumption Act. lie sand IN sub
stance viii seek To present n single proposition
which have doubt prove, aud that Is that Ill
advised legislation ~ tho prime cause OF our hhahcll
depression to-day. Al the close OF the war one section
OF the country tine North absolutely abohnded IN all
the evidences OF genuine prosperity The other sec
ton. although It lost than hye thousand million
ing and rcsanlng lis Industrial Independence. Meyer
had any country presented such spectacle of recgpera
lion ns lust after the war; but Congress took the
pruning knife OF peace and Topped of paper legal-en-
der branch here, and silver legdtender branch there,
until 1t had produced supply OF money just sufficient
Ia feed the few and starye tue many favor houest
finances and return 10 specie payments. have stead
asy maintained that the country should return specie
payments at the earliest possible moment Compatible
with the interests Of It's industrial classes The policy
OF the country has been one of contraction. The flow
OF gold from the country no more be prevented han
the Great Eastern can be stayed In mdocean during
storm By casting her anchors passing cloud IL has
been argued that the shortest road To specie resumption
IS the best one. and that that road IA contraction
deny such proposition At the bottom OF the financial
structure which Congress mas been building during the
past ten years an Insufficient supply OF money, ana
above That greater demand FOR money above that DIS
with the clsors Of distressed people for relief The
conraotiOnsts admit that distress has followed the pas
sage their laws, but deny that the laws have caused
the distress In France, under policy Dy winch the
OF her currency doubled just after the close
creased TO 500 900 600, there Is universal thrift Here
is The United States under the policy OF contraction.
| standsul. have never been able to understand why
IL mot bcts to the country by common sense than
ruin 1t by science cannot see why salvation according
~ experience much less desirable than damnaOm
according 10 carlo. Laughter and applause in the gal
leFes. WI Congress take warning by history or Will
II 20 bringing This country from one degree OF dis
to another do not believe the Secretary OF she
Treasury maintain specie resumption without bring
Ing great distress upon the country MIR GORDON then
referred TO the south and saldl The Republics flag
the Dag OF SOUTH the Republics honor is her honor.
and when either shall be assaed she VIII not be found
wanting m her contribution of brain and blood repel
the assault Renewed applause I'm the galleries, which
was checked by the presiding Oicerl As to Com.
here Viii ID doom not only the reward labor, but viii
the resources OF our ctzcms NO such BIRD OF III
The country agtaed, but beneath 1t ALL control
ling Il all, is tho law-abding spirit OF the American
people. elevated sanced 10y suiiranee endurance and
! trial. Ilenewed applause In the galleries.
Mr.. MAXEY (Dem, Tex, from the Committee on
Post Offices and Post Roads submitted written report
III regard TO the Brazilian mail steamship service. Re
| ICrreQ 10 the COMMITTEE on Appropriations
PENSION AND PENSION AGENTS.
| Mr. SARGENT Rep.. Cal.), from the Committee on
| Appropriations, called up the House Pension bill.
| The bill, as it from the House, called for
G2937I ,574. The Senate Committee Appropriations
had uddcu appropriation OF $4,000 additional for
fees examining surgeons IN order To enable the Com
missioner the OF physicians or stand
ing Referring to the second section OF the bill
came from the House OF Representatives, which pro-
ydes that from and after July l, 1873 the Offices OF
uen.iOn agent Bshall be filed by wounded disabled
Union sOdlcTs Mr. Sargent said should that be adopted,
Il would require change In the offices OF pension agent
all over the country the first OF July the Com
nittee Appropriations therefore, reported amend