New-York tribune., 1878-04-04
yIv,b CONGRESS---Id SESSION

- Sa,ate. to-day, Mr.. DAWES (liep,
,,.s, presented memorial ot the boS'on ~
go for law to provide for an eduisoie 60.
,rrors in the collection OF duties kelerreu " ''
mIttee on Commerce ..oa a memorial
NJ MCPHERSON Dem, n J) presented .sStnr
-, tho Aldermen and Council Of Jersey OIo' ~
.a, ,,a, cv be made port Of entry koierre" u "'
committee on Commerce. l.,,,,sr1 xcv Pan
Mr. KEENAN, Dem, y. ", Mr Ch 'se Nc ,ns,
Mch) and Others, presen1ifn seryice Laid the
table ,.,,,,,, ,esn.. r. r.. from the Committee on
MI 81 S;rs reported bill In relation TO the enlsI
nt ~ eolored men in the army Flaceu o' 'No ''
eTss' TSe following bills were taken up and passed:
onse bill to section $40 chapter ue iS 9 tic
Revised sia'S,e sI tos The rsief Of John A. Darling.
ne rss ss i of Tiam Hams A. Walker hate Register Of the
1spa and Office at Des Moiues Iowa
Nv CHAFFEE Qep, Coli introduced bill to amend
,be Pacific Railroad Act of 1862 and the acts amend
tow and supplemental thereto. Laid on the table
the Chair appointed Mr. Window (Rep; MINI, MT
Dorsey ep.. Ark and Mr. Beck Dem mi ky GfmosS fGS
tmporary eei ks in the Treasury Department .oro
iss reary of War relative to the construction OF
aspydock at Fort McHeury. Nd. Referred to the Com
m1eef be foowinS were reported and placed upon the
calendar
hIl providing taking testimony and collecting IN.
formation to be used by Congress- with iO' the
Sumber of private bills from the Committee on Claims
and Pensions
THE DEBT OF THE RAILROADS
The Senate at the expiration of the morning hour re
sumed consideration of the Pacific Railroad fundug
Bill ,-ou,
Mr. THURMAN Dem, OhOl proposed an amendment
70 be offered at the proper time providing that 'he
d nurcbased for the sinking fund shall be stamped
NJ not 10 he transferable. -, co.o -, +bo
eudnS 6lli lie went into a calculation as to the
amount of bonds maturity and said inc cost % e
roads was represented as follows; fnst noo t56
honds S15. 100000 Government DOnus, @D1VVV'VOyJ'
land mortgage bonds, s2OoOoSo; eSP"A Ppo s'oS, Tas
SAID bs The companies that roads, with growing
business aud through rapidly % no sod :eciy at
fne end OF twenty years for $1j7OOOoOO iheIe mus.
pe pes o1 ~ % where the error is The ninety million
dollar capital stock does not represent aoE Iou
InDS an ~ arbitrary profit on fraudulent contracts
The Government mas the rlgbt 10 hHnH 'o i, ot aNd
any CORPORATION II 10 maintain It's clealI anu "a
protect It's sovereignty and corporation mas NO it
divide It's property among & i's 81 cito The proposed
exercise OF the reserved rights Of the GoveIent uos
not touch the prrperty of the companies but SIMPLY %
pr6dis protect their credit and MAINTAIN ~ I.n
sEeh a shock to the Constitution 10 be beyond me
power Of uteTanee AccSTng 70 % e H npo II bV the
Senator GEORGIA (Nr. Iii there is nothns lna1 M
altered. for II the senator makes another as suote az g
Ilcnt he will take even tha' II there can e % 10
suppe eta legislation matters OF TINS klno tlele
will be no more charters granted, nor ana si'eh' "4e
Mr. THURMAN (DrIn., Ohio sand he had gwen Dotce
that he would ask vote Op the bill to-day but owing
10 the absence OF some and illness Of other Senators
be would not DO SO to-day, hut would tomorrow lie
was willing. however. 10 have vote llheh on tne S
sttnte reported oy MT Ma''he"s' "i'"O"'
Mr.. PADDOCK Rep Neel, and MI CiAtI MI "a ID Si'fp ,p
COLI. wished delay until the substitute offered Dy '"e
latter could be printed ana ald before tne t hill
enough 10 know that be could never accept 1t az suo
sttc the DILL, for II sought to ne the pro IaS IS
proposition should stand alone and he coud not con
sent TO coupling tue two in one oil.
make remarks Oh the subject, mere IN te mature
Of criticism of the two bs rather taau IN supP %
either measure particular, but had not expected 20
speak to-day. The Indebtedness OF the conIanes IL
ho S oHe T snPS0es II ha sGHa the vii
that amouit Of idle capital on hand ~ tne
the idea OF sinking fund Tbs helnS adin;tea as the
as to the best mode of establishing sinking fund
Security absolute security Is the first necessity ana
this, with he provision thar the yearly additions 70 me
fund shall exceed annual interest constitute the
true philosophy Of all siniug funds Excessive neere
provoke hostile attacks Enough 10 e1tlhsSn lIe Cd
legation and more should be secured 10
the fuDd The amount required by the Judiciary bill
has all 10 come from the passengers ana LslGnlers
gathered IN this way unnecessary burden and
makes the fund less secure II would be bStier 20 e@
tend the time and divide the burden spreading u CVer
longer period In short tine there VIII he cempe,ihg
ioads "heh Ihe Satoeh Hin ia & "ir ooi ca,eng inid
complaints and weakening the seeanty. Ine az
Congress has fun control OF the sinking fund ar that
any subsequent Congress may alter or abolish H.
cury. To show the insecurity OF sinking fuNa II Ieft
10 the ging views Of majority, even the judiciary
Committee, TEeA reported the b has changed III mind
three times.
Mr.. EDlITNDS (Rep, VT asked If the Senator took
the ground uucOnstitutiODa for Congress 20
attempt prevent the companies from div1dDs ul tls
property and preventing the payment oI The bond al
maturity.
Mr. DAWES replied that he had taken the position
that II proposed to administer trust or TO provide
special bankrupt a corporation, there sgDt
warrant for il IN the Constitution.
Mr.. EDMUNDs pressed him Tor an expression Of his
opinion a. TO the eOnstuOnality Of the pending bin
Mr. DAWES said IL ne was TO be PIT on the WItnose-
stand 10 be examined by the Senator from Yer
mont be preferred put of until morning. He would
however, say therei fcaturcs OF the l me
eonstitutionahty Of which me would like 20 see more
clearly pointed out
NJ EDMUNDS argued for the right Of the Government
10 security for the payment Oi the bonds i t-
ritv and maintained that il has been 1udciaiy estab
sed atedly that the Legislature has the power to
regulate tie administration Of.the anal OF corporations
and even individuals, where public interests are i'll
voved 10 subseryc the general interests 0 the peo
pie. -
After some further debate Mr.. MATTHEWS was rec
ogizcd entitled the oOr tomorrow and Jl5 b.
IN, motion VI Mr.. SPENCER the Senate adj0urneG.
HOUSE OF REPRESENTATIVES,.
In the House, to-day, Mr. BANKS (Rep., Macs. {
from Committee Rules, reported back tie resOu-
ton admitting representative of each pu1c Journal
which employs permanent correspondent for reporting
the proceedings Of Congress TO the halls aud passage
vavs aronnd fhe hall Of the House AdODtcd