Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-05-03
CONGRESSIONAL.

Between ar. Conger and Nr. Atkins
The Fraud Investigation Likely to be !
Ordered on aIonday--A New Consider
alton of the Venezuelan Claims.
Senate.
WASHINGTON, May Ex-senator Thurman,
from the committee on Judiciary reported back
the bill to repeal the bankrupt law with an
amendment perfecttng the clause in regard to
rights not to be affected by the repeal law, and
retaining the amendment adopted yesterday,
providing that the repeal Of the law shall take
effect January l, 1879. Ordered that the
amendment be printed and the bill be laid
over until tomorrow.
The amendment to the bill as reported by
the committee provides that the repeal of the
law shall not affect pending cases aud all fu-
ture proceedings therein, and in respect Of al
fines, penalties and forfeitures which shall have
been incurred under any of said acts prior to
the day when this act takes effect, or which
may thereafter be incurred under any of said
acts prior to the day when this act takes effect,
or which may be thereafter incurred under any
of those provisions Of any Of said acts
which for the purposes named in
the act, are kept in force,
and all penal actions and criminal proceedings
for violation Of any of said act, whether then
pending or thereafter instituted, and in respect
Of all rights of debtors or creditors, except the
right OF commencing original proceedings in
bankruptcy, and all rights Of suite by or
against assignees under any or all said acts in
any matter or cas- which shall have arisen prior
to the day when the act takes effect. which
shall be on the first day Of January, 1879, or in
! any matter or case which shall arise after this
act takes effect in respect of any matter OF
bankruptcy authorized by this act to be pro-
ceeded with after said last named day..
senotor Conkling from the committee on
commerce, reported adversely the House bill tc
provide for vessels Of the United States hailing
from places where they are owned and built
and it was indefinitely postponed.
Senators Ferry, Paddock and Salisbury we've
| appointed members Of the conference commit
J! tee on the part of the Senate on the bill te
regulate advertising Of mail letting.
| Senator Plumb, from the committee on pub
lie lands, reported with amendments Senate
bill to provide additional regulations for home
stead and pre-emption entries on publ;o land
Placed on the calendar.
/ Senator Ferry called up House bill to repea
! the specie resumption act, and read q length,
argument explaining the amendments reported
| by the committee on finance. He referred t
the fact that United States notes and gold wer,
!
fastened by the passage of the act to restor
standard silver dollars. Abiding to the pas
sage Of tho act Of January IA, 1875, to resum
specie payment, he said he Joined in it al
compromise measure reluctantly. After ez
| planning the amendments reported by the com
| nittee on finance, he said If the bill should b
agreed to as amended, it would give the coun
try volume Of currency of $50 million dol
lars. He argued that the bill would restor
commercial confidence. 1t would result in GU
own PEOPLE holding the national debt instead Q
1 foreigners. The recent sale of fifty million
in bonds by the secretary of the treasury, wa
an assurance Of this, and an evidenc
| OF ths advancement of public credit
/ Tbs government should now turn it
attention to upholding its credit with its o7r
people. He next referred to the coin require
by the government. and said no fears need
unprecedented that the government would hav
to go abroad to seek coin to meet its require
notes their rightful place in the circulation {
the country had departed. He believed greer
backs and coin would be at par before the fir
of July next, and referred to announcement
daily by business firms and banking associ'
tons that they had resumed specie paymen
Referring to Wall street, he said all knowlede
on finance did not dwell solely with the wiz
men of Gotham. New York city. which ha
been SO clamorous for specie resumption, no
seem to be the last to respond. In conclusion
he argued that the passage OF this bill woul
be to settle our finances upon such basis
would relegate onr financial difficulties fro
the halls Of Congress to the marts of con
, merce.
Senator Voorhees, then took the floor and req
q lengthy argument in favor of repeating tt
specie resumption act. The amount Of huma
misery, wretchedness and vice which the la
had caused could not be estimated. 1t hs
overthrown property values simply beyondtl
power Of language to describe. Ten thousar
million dollars worth of property have bee
absolutely confiscated. He argued that IL
American people had been educated on Il
subject of finance during the past five yea
| under such circumstances as breed revolut1o
unless they were met by measures of relic
The greenback dollar, on account of the conf
dence the people had in it, had forced itse
!. upon an equality with gold. He referred to tt
gold room in New York as {: mob Of gambler
and argued that the government cou
not redeem fifty million dc
lars with gold within week
notice from to-day. The notes of the COVER
: ment had advanced to an equality with gol
because the people had forced the governme
r to treat ITS own notes with respect. The
never was the slightest reason why pap
+ money in this country should have become d
preciated. He favored the adoption
, an amendment compelling the seer
f tary of the treasury to receive Unit
States notes for duties on imports, not aft
the first Of October next, but immediatel
resume specie payment on the first Of Janua
4 Gus and unhappy future. The farme
had mortgaged their property, ana if spec
!. payments are resumed these mortgages mu
! be paid in coin. 1t was the duty Of the Am<
} lean Congress to go legislate as to secure t
4 farmer his home, and to the Industrious n
chanic living wages. The toiling millio
who arose in the morning before light a,
2 worked until after dark, were constantly bel
:. lecturea on economy by jewellers in palaces,
masters OF hired attendants. The poor we
9 to give up Injuries which they had NJ
, in order that the rich might ha
people, but he would at all times vindica
them against the aspersions Of those who fiji
oppressed and then denounced them. He
). ferred to communism, and said it YVES the a
I vocates OF those who favored the resumption
), specie payments, who fostered the spirit
: communism In conclusion he argued that t
repeal of the specie resumption law won
bring light and hope TO many darkened home
1t would cut the ligatures of contraction.
tivity and prosperity would revive Nothi
q since peace was declared at Appot
j. max. thirteen years ago, would
:. hailed with such shouts of gladncss. Popul
), relief would increase popular tranquility, a.
turbulence in the labor regions would cease.
y Senator Gordon then took the floor with
q understanding that he would speak on Mond
next, and further consideration Of the bill "
= postponed till that time.
Senator Marcy, from the committee on pt
Offices and post roads, reported an amendme
J to be proposed to the post Office appropriate
! bill, authorizing a. semi-monthly mail stea
ship service between the United States a
! Brazil. Referred.
J Senator Saunders moved to reconsider t
: vote by which the joint resolution to provi
> for the appointment of eighteen addition
J oom m tn tba Paris eYn0sifinn was