The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1878-01-26
a Spst in the Senate Between
Blaine and Hoar and Dawes
The Mexican GeYsrRmen, ilstermiaed
10 oppose tbs Cr0ssiHg OF The
Bio Grande BY United
States Troops.
An Organized Movement Ia Both Houses Of
Congress te Accomplish Remone-
tizatsn and the Repeal of the
Resumption Act.
Tue Freedmen and Their Bank \ aa-
faasions aud Conf rnIatioas-Th@ sa-
presne s,ourf

| insttons aud Conf ma tt0as-rhe sa.
preme Cont
| WASHINGTON, January 10 The sub
committee OF banking and currency
have directed their ehsirneaa, GeinTai
Ewing, tn report resolution askips
power TO send for persons and psa!,,-rs
and Otherwise investigate the amount
~ coin In the country available fer re.
sum ption.
General Sheridan will shortly make
a tour OF inspection OF his department
General Whipple, of Sberman's stall,
viii &C company Sheridan.
! DIR. Seidier appeared before the sub-
committee on ways aud means to day
IN the interest OF Lortilard & Co..
of New York, protesting against the
proposed reduction on tobacco, claim
ing whereas he had orders for 2OO,-
600 pounds in November, ia Decem
Der, after the agitation set in, he had
only 300 600; that his establishments
worked 800 men; that IL had capae
ity of $1,000 pounds per day, and that
his orders would average 81, 600; tina
| he was surprised that the Virgins
manufacturers agitated this subject ;
thai the price of leaf tobacco depended
| upon the supply and demand; that
consumption was entirely irrespective
of price: that there were only eight
millions of consumers, consuming an
| average OF fifteen pounds: that the
price has nothing to do with the num-
Der of consumers or the amount
consumed; that the tax OF twenty
four cents was low MS compared
with England, France, Germany,
| Spain and Austria. Tie tax in Eng
land was three shil'ings on manufac.
tured tobacco. That II the tax was re-
ddced the tariff would have to be in
| creased and an Income Tax would have
to be Imposed; that II the tax was res
dueed from twelve cents the Income
from 1t would be reduced TO half con,
sequently the cost of collection, which
was now four per cent, would be eight
per cent. Business was now in "a very
unprofitahle condition, but he attri
huted Ii 10 other causes than the tax:
that one of the reasons WHY IL WAS so
Improbable to Virginia manufacturers
WAS becan-e it was shipped to tommi-.
sion merchants, and was, therefore.
sold with heavy charges again 81 them.
Another TFARnH tiauf l..
have the advantage of the chemical
possesses which were had in New
York, and that they make inferior
goods fer the purpose of un.
derselliag; that these were ia.
reasons why Virginia man facturers
were SO deeply depressed not because
of the tax.
The fneeut men of the west and
northwest came in for their share Of
these criticisms. Kentucky was not
alluded to. He further said, if the tax
was reduced now it would have to be
restored very soon. He was further
questioned, by several gentlemen
present, that If the present tax was
building up sueh giant Establishments,
| as he claimed would IL no { he better
TO double tue present rate. He eaid
lhat the smaller aud poorer nanufsc
turers were more liable to defraud the
government than were the larger ones.
because from the latter larger bond
was required, and more people were
watching them, the argument being
that II would be beneficial to the gov
ernment to concentrate the mauufsc-
turers in the larger establishments.
He admitted that tobacco was very
low now. Sugs In New Yors aud the
western markets were sold nj two or
two and a half cents and in Virginia
at three cents, in order to save their
western trade.
Loriilard d Co. gave guarantees TO
their customers that in the event Of a
reduction of the tax, it would involve
them in ioss of over $500, 600 In re-
gard TO the abate on tax Mr.. Solder
argued thst the stock ON hand would
be nearly one-half of the years supply,
some sixty million pounds at twelve
cents would cause loss to the gov.
erDment OF S7,200, 900. He said that
Mr.. Kimhsll, chief of the tobacco bu.
reau of this city, had stated to him
that is would open vast era of per
jury and fraud. Colonel Burne.I,
was present and prepared to present
argument in behalf oftheVirginia man
ufacturers, bat owing tothe prolonged
session he WAS requested to furnish his
views in writing, which he will do
early next week.
At the expir alton of the morning
hour, the senate resumed the consider
stion OF the unfinished business, being
the resolution of Mr.. Matthews, of
Ohio. declaring the right of the gov
eminent to pay the interest and prin-
cipsl OF the bonds in silver.
Mr.. Merrimsp, of North Carlina,
spoke In favor thereof He said the
subject was worthy of the most serious
considerations, and he trusted free
and frank expression of views would
lead the senate 10 wise and whole
some conclusion. He would discuss
the resolution submitted by the senas
tor from Ohio tMr. Matthews), and
not the expediency of remonetizing
silver. He would never consent that
the honor and good faith OF the gov.
eminent should be impaired in the
slightest degree.
The naked question before the sem
ate YVES whether the government could
lawfully pay Its creditors in silver Of
the standard of vxiue Of July IA, 1870.
He then reviewed. also at some length,
the financial legislation since 1852,
and quoted from various acts to show
that all the bonds issued were payable
Ia legal tender coin OF the United
Htates. When theee acts were passed
there were tot two species of coins
established By law, to wit: gold
and silver, aud ~ the contract
stood between the government
and It's creditors, the government
could pay lie debts In bath or either Of
these coins. The fact that there was
more or iess ofa particular kind Of