Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-01-30
NATIONAL SOLONS.
Do1NGs or CONGRESS yesterday.
Senator Bucks Proposition to Relieve the
People of 100000, 900 of Taxation--SiIve
Discussion In the Senate--Instructive Ar
guments Pro and COn--Work of Com
mfttees--GencralN News.
SclANkc.

introduced a bill to make the 22d of Februa-
ny legal holiday in the District of Colum-
bia. Referred.
Senator Plumb introduced a bill to repeal
certain acts and parts of acts relating to the
taxation of deposits in savings banks. Re
ferred.
Senator Howe, from the committee on Ii
brary, reported fayorably on the House joint
resolution accepting Carpenters painting of
Lincoln and his Cabinet Senator Edmunds
said, while grateful to the giver, he did not
think the picture was of that art character
which entitled it to a place in the Capitol.
After some debate the resolution was agreed
to, yeas 43, nays Z.
Senator Edmunds submitted q resolution
nstructing the committee on military affairs
to inquire and report whether at any time
since July 20, 1876, any person has been ap-
pointed to the army contrary to section 20 of
the act of that date, OF contrary to section
1918 Of the revised statutes. Agreed to.
During the morning hour Senator Beck
called up the resolution submitted by him
last week declaring it unnecessary or inexpe-
dent to maintain or impose taxes at this
IT,
196,O45.O4, asked for by the Secretary of the
Treasury for the sinking fund, and spoke in
favor of passing the resolution.
Beck said he introduced the resolution for
the purpose of obtaining an expression of
the sense of the two Houses of Congress
upon what he considered to be a most i'm
portant question now before Congress, and
that was: How could taxation best be re-
duced SO as to relieve the people from the
expressions under which they labor, and at
the same time meet the requirements Of the
government?
He read from a late report of the Secre-
tary Of the Treasury, showing that there
would be deficiency at the end of the next
fiscal year, amounting to $i1l ,438,OO0 in the
receipts of the government as compared with
its expenditures upon the present basis, and
continuing his argument said: His object
was to satisfy the Senate that Congress was
not under obligation to maintain or impose
taxes for the purpose of bonds for the sink
ing fund. He thought he could show where
thirty millions Of dollars could be saved from
the customs service, internal revenue and
management of Indian affairs, but at present
he would confne himself to the sinking
fund.
He again quoted from the report of the
secretary of the treasury to show that the
sinking fund now contained 22O million dol
lars in excess of the amount required by law
for that fund at the present time. He argued
that all pledges and obligations of the gov
eminent to make provision for the sinking
had been practically carried out, and asked
why we should be so anxious to pay bonds
in advance of our pledges and obligations.
Our bonds We're high enough now. The pub
lie creditors were not suffering, neither was
their security diminishing. The property of
the United States is increasing in value and
the public debt was a mortgage upon the
whole of it. The sinking fund was amply
provided for at least for five years to come,
and it seemed to him clear that it was the
duty of Congress now to reduce taxation.
He next referred to the passage Of the act
of March 3, 1875, to further protect the sink
lug fund, and argued that if the same in
formation had been before Congress then, in
regard to the sinking fund, as now, that the
act imposing taxation would never have
been passed. He quoted from the debates
on that bill and said Dawes, who had charge
of the bill in the House of Representatives,
had been grossly deceived by the treasury
officials. He, Beck, now had faith the commit
tees Of the two Houses of Congress would re-
duce taxation i'll the interest of the people. All
that any country could do, and what this
country had to do, was to apply it's surplus
revenues to the payment of it's debts.
Senators Morreu and Dawes gave notice
that they would have something to say about
this resolution hereafter.
Upon the conclusion of Senator Beck re-
marks the resolution was laid over and con-
sideration resumed of the unfinished bust
ness, being the silver BILL and Mr.. Wallace
spoke in favor thereof.
He said gold cannot be SO divided to suit
the necessities of the people, whilst gold and
silver are just to all classes. Our policy as
people has initiated and maintained the
double standard. The constitution and laws
up to 1873 recognized and enforced this
policy. Demonstration of silver by the
United States leads to it's total disuse. The
total disuse of silver, as money, reduces the
measures of values and increases the value
of money Indebtedness. It will destroy it's
use as subsidiary coinage. It will give the
world a scanty instead of a full circulating
medium of intrinsic value. sThe use of both
metals gives healthy progress, a basis for
confidence, value to currency in paper, and
Just measure of value. The use of but one
strikes out of existence a large part of the
worlds capital as a measure of value that is
prejudicial to the progress of civilization.
There is no foundation either in morals or in
law for enhancing the value of the debt, and it
is neither just nor expedient to do so. The
exercise of the power to adopt gold standard
awakens distrust among the people and tends
directly to weaken the bindingI obligations of
the public faith.
Is there, he asked, any safer ground for
the best interests of the whole people, fol-
the debtor and creditor, for the bondholde1
and tax payer, than restoration of our an
cient policy of constitutional money of gold
and silver. If we return to the double
standard how shall we regulate the value of
our coin. Shall we reduce the value of the
gold dollar by decreasing it's weight? This
we cannot do without violating our contract
made in 1870. Shall we increase the value
of the silver dollar by adding to its weight
measuring silver bullion in gold coin to-day
This would be unjust to the people for it al
lows nothing for an increase in the value OF
bullion resulting from it's use and legal ten
der function as money.
This bill is not the Bland BILL The free
coinage feature is struck out. The govern
ment buys it's own bullion monthly, not less
than two nor more than four millions Del
month. The difference between bullion and
coin belongs to the government. This gives
a regular monthly demand for bullion, and
will increase its value. The legal tender
function or debt paying power adds to the
value of COIN. 1t is this that gives power
and value to paper legal tender.
Senator Bayard said he did not propose
now to give any extended expression of hi.
views upon remonetization of silver. H,
was not in favor of abolishing silver as coli
of the country. Should it be in his power
without disturbance to the business and cred