The Bolivar bulletin. [volume] (Bolivar, Hardeman County, Tenn.) 1865-1888, 1878-02-14


eHrrency. and was not the balance of trade
! in our favor pOw2 Again, it had been argued
that our credit would be destl Dyed. How
destroyed-by US paying our bonds IS we
/ promised to pay them? The United States
needed no such prop as single gold stand
| ard to support its credit. The resources OF
! this country we're too well known for her
credit to be injured. lie IoDged to see our
! indebtedness held at home and not abroad,
so there would be no annual drain upon
America to enrich Europe. telegram this
morning informed US thai SIX hundred thou
sand dollars worth OF our bonds were on
their way home from England. They would
! be getting back there soon, whether this
! bill passed or not, as the interest upon our
| bonds vas greater than that upon any safe
! European stocks. If OUR bonds should be
sent home they must find purchasers in the
United States, and suppose they should find
such purchasers, would not every one in the
| land be glad that our bonds were held at
/ homer The English debt was held by Eng
| lishmen, toe French debt by Frenchmen,
and he hoped the day would come when the
american debt would be held By Americans.
! Our currency would continue to be small
paper money, and the problem for congress
/ to solve was upon what basis il should rest.
! We could not maintain g paper currency,
convertible at all times into eOin, unless we
employed silver as well as gold as It's base.
! Unless silver should be made a full legal
| tender the idea OF specie payment in the
United States Weuld soon be abandoned.
1 Every opponent to an ifredeemable paper
currency and every friend of specie eur
rency should insist upon full remOnetizaS
ton of silver. II this bill should become a
law its tendency would be to put a stop to
the demonstration of silver in other coun-
/ tries. Should we postpone the remonetiZa-
ton of silver until a compact with otkeF
nations be made, it would never be remone-
] tized. he hoped our country would be
| ranged by the side of the bi-metallic states.
Let the commercial world know that we do
not intend to abandon the use of silver
Silver was an American product. Many
millions of dollars and thousands of men
were employed in its production in this
country, and to destroy or cripple this in
dustry would be cruel and just.........M Mr..
Blaine then took the floor to speak upon the
silver bill, with the understanding that he
would proceed with his remarks tomorrow.
....- The senate then went into executive
session, and when the doors reopened ad-
iourned.
In the house; on the 9Th, Mr.. Peddie
offered a resolution, lecitiDe the trade dollar
as being refused by the pOstoffices of the
country, and only received by merchants at
q discount of eight OF ten per cent, and
directing the secretary of the treasury to
stop the c0inage of the trade dollar. He
thought the government should not issue a
coin 1t would not receive. Mr.. Bright-YOu
have nothing to do but. remOnetze silver,
and it will be all right The resolution was
referred. MF Stephens offered a resolution
authorizing the president to invite an inter
national monetary commission to consider
| aud recommend uniform rate in the value
of the coinage OF gold and silver. Referred.
w Mr. MuldroW, of Mississippi, introduced
q bill making the department of agriculture
an executive department. Referred.
! In the house, on the 9TH, immediately
I - ~. -
resumed the confederation of the contested
elected case of Wiggington VS. Pdcheeo, from
| the fourth district OF California......A resO-
/ luton, reported by majority of the COM
mittee, declaring Mr.. Wlggington, the con-
/ testant, entitled to the seat was adopted
yeas, 1876; nays, 125..... Mr.. Durham made
an Intellectual effort to go into committee of
/ the whole on the military academy bill but
the house preferred TO adjourn, and did so.
AdiSusned.
! In the house, on the Sth, consideration
was resumed of unhnishsd d business, being
the silver bill, and Mr.. Hill made a speech.
.... Mr.. Sapp introduced bill to aid in the
construction Of a railrOad from point op-
posite Memphis, on the Mississippi river, to
| Jefferson, Austin and San Antonio, Texas,
and thence to a point at or near EI PasO.
Referred ......... NJ. Bright chairman of the
committee on claims, reported bill appro-
priating $132,617, for the payment of claims
allowed by the accounting officers of the
treasury. Passed The house then went
into committee of the whole, Mr.. Yeates in
the chair, on the private calendar. The first
bill taken up was one appropriating SIS, ,430
to pay w. II. Newman and l., A. NanHOff-
man, of New York, in full compensation for
the use of the Pioneer mills in Alexandria
by the United States authority during the
late war. The bill was adTOc8ted by Messrs.
Hunton, Finley, Robinson Qnd.) and Viii
son, and opposed by Messrs. Jones slOhio)
and COnger (Mich) The discussion was
closed with an argument by Ar. Tucker in
favor of the nin. The committee then rose
and reported the bill to the house with a
recommendation that it do pass. The bill
was reiected-yeaS, "a nays, 100. The
affirmative vote came principally from the
democratic side and the negative from the
republican side, but there were few excep.
, tions to the rule on both sides. Adjourned
In the house, on the 9th, the session
was for general debate only. Mr.. Hewitt, ol
, Alabama, occupied the chair. There was q
, very small attendance of members.
, SENATE.
In the senate, on the 4th, great part
of the morning hour was taken up in tbs
; presentation of petitions from all parts oi
the country most of them demonstrating
, against changes in the present tariff duties
3 and the restoration of the tax on tea and
coffee, all of which were referred. Other
! petitions favOring the organization of de
Il
, be a cabinet officer, were presented and re
. ferred The following bills were intro
= | duce1 and referred: By Mr.. SpeDcer-TC
z incorporate the National Pacific railroad
4 and telegraph company By Mr.. Saunder
: l-Suppleme mentaFy to the joint resolution II
. | relation to the Paris exposition. At th'
q | expiration of the morning hour considers
: | ton of the silver bill was resumed and Mr.
\ Beck submitted an amendment directing
i the secretary OF the treasury TO purchase
ell hull lee
= than three millions worth per month, or a
muSh more as can be coined at the mints o
= the United States the United S ateg TO hav
! the benefit of the gain or seignorege; pro
, | vided, that whenever the market price o
. silver bullion is such that il cannot be pnE
! chased at less than par in legal lenders b
:, shall give notice of the fact, and then 40,
2 citizen Of The United States owning balliol
Z may deposit the same at the mint and have !
9 coined. The amendment further provide
L that subsidiary coinage shall contain tn
Q same relative quantity of pure and staodaTl
, silver as the silver dollar. AZ er Mr.. Becl
t explained his amendment briefly Mr.. Bayar
, spoke in opposition TO the bill. Adjourned
); In the senate, on the 5th, Mr.. Bee
q presented a memorial of the state OF Ken
J. tucky, signed by the governor thereof, ask
% ing congress TO make an aPproprla ton
Is pay the balances due to that staie for "a
Is penses incurred in equipping troops duTlD
D. the late war Referred go. Atthe expiratio
l. of tie morning hour the consideration of th
IS silver bill was resumed and Mr.. Eaton sp0k
10 in opposition thereto. Adjourned.
O In the senate, on the 7th. Mr. Davi,
a of Illinois, called up tue senate bill to rem
y the taxes on insolyent savings banks Pend
- ing the question, being on ams ndment pr
q, viding that no savings banks having II
y capital stock shall. on account Of mercaniI
Il or business deposits n which no intere { hs
20 keen allowed, be denied exemption sllowe
"a to savings banks having no capital stocl
and IL was agreed to-yess. %; nays, 2
D. The hill was then read the third time an
le passed .. Consideration was then resume
IN of unfinished bus ness-the silver bil-sn
l, I Mr.. Blaine spoke thereon Adjourned
Is. In the senate, on the sths Mr. Saun'