The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-05-21


to the width and depth Of tho proposed canal; that
he would favor appropriation OF any magnitude az
this time. He then referred TO the amendment re-
Gently submitted by him 10 the River and Harbor
BILL appropratng $1,000 tor the survey OF route for
canal, ana said Tor many years he had advocated
the construction OF such ship canal During
his term as Governor OF Maryland no called the
attention OF the Representatives In Congress
from that State to the work as ono or
national importance. Baltimore now was tho grand
reservoir OF grain for tho West and Northwest He
referred 10 the largo shipments OF pork ard other
Western products from that port ana said i. WIS the
nearest outlet for Western products foreign lands
Hc spoko OF the efforts mado previous years TO ac-
complish tho OF constructing this canal and the
financial distress OF late years winch had prevented
Il. The State OF Maryland renewed with conf
dence Its petition for national aid in the develop
of this important route.
THE PROPOSED CANAL
The proposed canal would begin at the mouth OF
tho ChOptank River, about 1fty-thrce miles from
four miles above The breakwater. The length OF the
canal would be about forty miles, and vessels bound
from Baltimore to Europe or 10 any Of our northern
ports would save from $50 10 100 miles Ho referred
TO preccdents tor the appropriation for such sur
vey and gave notice that he would urge
his amendment before the Senate at the proper
time believing the work was OF national Import
anco and FREQ from all constitutional objections.
There why canal FREQ to commerce
should BIO constructed, or IL not free where tolls
should DO charged only sufficient Keep IL in repair.
Mr. WnYTE ALTO presented resolutions Of tho Mcr-
chants Exchange OF Baltimore demonstrating against
tho passage Of any bill granting subsidy to tho pro.
posed Roach line or any similar line OF steamers be-
tween tho United States and Brazil. Keorrou the
Committee on Commerce.
FEMALE LAWYERS.
Mr. THURMAN, (dcm.) OF Quo, from the Committee
on tho Judiciary, TO which was recommitted the
House bill providing that any woman who shall have
any State or Torr,ory or Of The sunroms Court OF
the District OF COLUMBIA tor tho space OF three years.
shalt be admitted 70 practice before tho Supreme
Court OF tho United Statos, reported back tho same,
together with tho amendment OF AIR. Sargent which
provided that no person shall be excluded from prac-
ticng as an attorney aud counsclloralaw before any
Court OF the United States Of sex.
majority Of the committee had directed him 10 ro
port they reported before; that In their opinion
there was law prohibiting 4 court from admitting
woman to It's bar and, therefore, there was no
necessity for tho passage OF this bill He moved that
II be indefinitely postponed but at the request Of
Sargent tho Oil was placed on tho calendar with tho
adverse report
THE SPECIE RESUMPTION ACT.
Tho morning hour having expired the Senate re.
sumcd consideration Of The unfinished business, being
the bill TO repeal the Specie Resumption act.
Mr. MORRILL,, (rcp.l OF Vermont. chairman or the
Committee on Finance, said no could vote for
this substitute for the House bill reported by the Com
mittec Finance without some diff cations and he
said II with much regret, though he was still less
inclined 70 favor the House bill, which, to him ap
pearcd SO palpably wrong and uncalled for that no
part OF It's objectionable scope deserved 10 DO pre-
served, ana certainly It's scope should be enlarged
He said wo are both near the time and the
as %si as tho pos as9sasos tina. nave
tolore been only too manifest In public opinion.
There Is no longer real urgency have resumption
occur at chcr an earlier or later day than that con-
seems rational and opporlune The coinage OF silver
is progressing as rapidly as its most ardent friends
could desire, and whatever tho futurc may have In
store 1t has not yet deprecated the grceDbaeks
and cannot dcprecate them until the amount
Of silver issued shall be in excess OF what
can DO maintained at the par Of gold. After
that IL lose gOld no douge
OF silver can mako It Of less value than weight
in silver bullion To that goal fear tend. All
should agree, however. TO make it blessing long
can, and not turn It into stumbling block. II
is now In its infancy, and will no more than get out Of
the cradle By tho LIST OF January next. Prior
time It should hardly be held responsible for much
evil, and ought to be permitted TO win credit tor all
possible good. Contraction OF paper money hitherto
has been almost wholly imaginary and will surely have
lost It's terrors whom contraction, real or ancu wholly
that all bikes are broken down. and both gold and
silver long pent Ind IN unrestricted outlet TO fer-
tiizo cvory part our country The national banks
ton with acclamaton and Will joyfuy contribute 10
It's success. Whom II COSTS ltlc or nothing TO ex-
plains OF the hardship OF obtaining Il, no one else
should complain that coin Is necessity at the Gus
tom House. With banking free, bringing forth 100
every eighty cents OF legal tenders surrendered
giving out 500 In exchange for $40 000 00 the
wants OF trade are 10 no danger OF suffering from q
lack of currency II Is also proposed to take green
backs for four per cont bonds. II thu refund
our national deDt at lower rate who will be angry
are likely to save more interest than will be paid
out on the 5O,ooo,ooo gold loan. Ho refer
the country, and said:-sLet us hail re-
sumption, Eow Imminent, as an event, however,
brought about that may quicken tho pulse OF the
nation ana start once moro tho highway Of
national prosperity.
EARLY DISAPPEARANCE OF GOLD PREMIUM.
He then spoke OF the objections to Inc substitute
reported by the Finance Committee, and said It
would prove detrimental TO practice Ut resumption,
besides II was incompatible with strict observance
public sOlomDv ADledQod In
Ho said the fractional premium now remaining
on gold likely 10 soon disappear unless that resul
shall be thwarted by rash attompt to do oy legisla
ton what Will SO much more surely be accomplished
naturally through the laws OF trade. He spoke Of
and other countries well this, ana quoted
NJ lonsth from statistics to show tho trade
been no stringency in tho money Market
since 1875, only continued dulncss. No properly
supported demaad for money had been refused. lie
quoted from table to show that tho amount oil legal
TENDER national bank and treasury certificates In CIR
culaton on January 1875, was $so5, 46SoS4 IS, and
$685. $40, y31 SO, and resuming his remarks said In.
stead OF contraction the table showed we had over
$40. coo, 900 money than we had in 1875 Ho
commended that there lack OF confidence instead
OF a lack OF money.
UNEMPLOYED LABOR
Referring TO LABOR unemployed throughout the
country, he sad:-Tho real wealth of the country,
as OF every other, resides IN labor The uturo pro-
ductive power 1t has In store more than all we now
possess. want TO put that power to work with the
stimulus OF more certain and higher rewards; to
courage every idle dollar to FORTH 10 tako It's
life IN hand and risk IL somewhere by putting all OF
the great forces OF human industry In motion Aliud
ing to tho recent sale Of United States bonds, he
said:-Tne sale Of the $50 100000 OF four and
one-half pcr cent bonds at ono and ono-haif
per cent premium Ia gold 10 proper
theme Of coDgratalatioa to our people. he spoke OF
tho interest OF all IN tho prosperity Of the country,
and said 10 doioat rcturn TO specie payments now,
either by assault or by III dirccod attempts to hasten
It's coming whom wo are on tho brink OF fruitioo,
would throw fearful responsibility on those who
should, by any act OF omission or commission, be-
come Identified with the 'ingiorious iact.r Tho
dearly bought financial experience oil recent years
cannot DO forgotten, and no sane man
wlsn to have IL repeated or prolonged.
Fictitious monoy-crop-cared and always mt dis
COUNTS not less productive OF bankruptcy In morals
than In business, aud wherever absolute verify docs
not prevail In the money current the contagious doc
trlne OF rctaiatory compdhsatory FRAUDS Is likely
to be speedily engendersd aud widely disseminated.
READY FOR JANUARY l, 1873.
Hc spoke OF tho resources he would have for re-
sumption purposes on the 1st Of Jan uary next and
the liabilities TO DO met and said although u re-
sumption should ut the last moment DO found
inexpedient or impractIcabo, thcre Will be
ample time TO postpone the day or repeal tho when