The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1878-01-16
XIV. CONGRESS.
REGULAR SESSION
SENATE.
rOught te Bear Against the silver
BiII-Petitiona Resolutions, Etc.

The memorial of the New York chamber
of commerce for law to equitably adjust
errors in assessment and collections IN duties
on imports and petitions of bankers, mer-
chants and others of New York favor1ng the
repeal of the bankrupt law, were presented
and referred.
Mr. Davis of Illinois presented petition
of 400 bankers and business men OF chicago
in favor of retaining gold as single stand
ard of value and against the repeal OF the
specie resumption act. He spoke OF the
high standing of the signers of the petition,
bnt said that, in his opinion, their
views were entertained only by very small
percentage of the population OF that city.
He also presented the proceedings OF the
meeting held at Bloomington, ILLINOIS, ms
place of residence, in favor OF the remonetiz-
alton of the silver dollar. In presenting
them he said he had no agency In getting
up this meeting but believed Its proceed
ipgs expressed the opinion of the people of
the whole county, which was fourth in
population in that state. Referred.
Mr.. Bailey presented a petition from the
citizens of Tennessee asking congress to re-
duce the tax on manufactured tobaccos.
Referred.
Mr.. Harris presented the proceedings of
the meeting of distillers, rectifers and
wholesale liquor dealers of Tennessee in
favor of reduction Of the tax on distilled
spirits. Referred.
Mr.. Christiancy presented the remon-
STRANGE of the Seminole and Creek Indians
against the passage of the senate bill to
enable Indians TO become citizens OF the
United States. Laid on the table.
Mr.. Kirkwood presented a petition from
the citizens of Davenport, Iowa, against the
passage of the Bland silver bill. Laid on the
table the bill having been reported to the
senate.
Mr.. Hill presented resolution of the
Savannah cotton exchange denying that the
south was unanimously in favor of the res
toration Of the silver dollar, and favoring the
gold standard alone, and favoring the speedy
restoration of specie payments.
Mr. Mitchell presented a petition signed
by citizens of Oregon favoring the passage OF
the bill recently introduced by him to
extend the time for the completion OF the
Northern Pacific railroad. He repudiated
the charge that he misrepresented the people
of his section by introducing the bill.
Mr. Barnum introduced resolution to
repeal the charter of the National Capital
insurance company. Referred.
Mr.. Edmunds submitted a concurrent res
olution proposing Joint rules for the.two
houses CT congress during the present ses-
sion; Also proposing rule for the senate,
providing that no motion shall be deemed
In order 10 admit any person, whatever,
within the doors of the senate chamber to
presentany petition, memorial or address,
except in cases of parties or counsel in cases
of contempt or impeachment. Referred.
Mr. Thurman submitted resolution in
structing the committee on military affairs
TO inquire whether any, and ii any, what
legislation is necessary or expedient to in
crease the annual appropriation for arming
and equipplng the militia Of the states and
territories TO correspond with the increase
in population since the passage OF the act of
1908, such increase to take immediate eff
feet; and also to enabIe the proper account
ing officer TO settle the twentieth
in.tallment of the Ohio war claims,
and TO authorize the proper officer to
credit Ohio with the difference between
what the arms drawn by Governor Todd
were charged at and at what they were sold
for; the bills for the settlement of the items
TO be so drawn as to allow the state 10 draw
ordnance and ordnance stores, camp and
garrison equipage, cooking utensils, over
coats, blankets, etc, in liquidation OF any
balance due the state Ordered printed.
Mr. Edmunds submitted a long amend
ment 70 the preamble of the resolution
introduced by Mr.. Matthews before recess,
declaring the right of the government to
pay its bonds in silver, etc.
The amendment sets forth that the silver
dollar of the nited States had been long
absolute when the existing loans Of the
United States were authorized; that gold
coin had been the only lawful coin, and that
congress should not legislate to make money
at the expense of its creditors; that it was
the highest obligation Of the United States
10 pay its debts In such coin as its creditors
expected would be paid, and that it would
be unjust 10 compel them, or the labOring
men either, to receive silver dollars or any
debased money. Laid on the table and
ordered printed, the resolution to which
it is proposed as an amendment now being
before the senate.
Mr.. Mitchell submitted a resolution in
structing the committee on Indian affairs to
inquire into the proDriety of setting apart
four large reservations for all the Indians of
the country, and that the lands now occu-
pied by them be opened to settlement. Re-
ferred.
The senate then resumed consideration of
the resolution of Mr.. Matthews declaring the
right of the government to pay bonds in
silver, and Mr. Bailey read long argument
as to the constitutional powers of congress in
regulating coinage, etc.
Mr.. Bailey argued that it was the intention
of congress TO pay the bonds in coin, and
the acts were carefully worded that coin
might be either gold or silver. He favored
the passage OF the resolution of Mr.. Mat
thews, and commended that the restoration of
the silver dollar would not prevent or retard
the funding of the public debt, as had been
argued. He had no doubt our debt could be
funded at four per cent The object of re-
monetizing the silver dollar was not TO fur
nish money to pay the public debt alone.
The main purpose was to arrest the
movement inaugurated in Europe to take
silver from the coinage of nations, to
check the advance In the value of gold,
70 cheaper money in this change and to en-
able the people to pay their debts. He quo
ted from the recent work of DIR. Linderman,
and said he Bailey agreed with the senator
from Kentucky Beck that silver coinage
would not be pushed forward without posi-
tive instructions on the part of congress.
He would not believe that men who voted
for the act of 1873 demonetizing silver were
guilty of wilful fraud, but he did think they
were victims of the bondholders- He
thought now that congress, by prompt &C