New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-06-19
HOUSE OF REPRESENTATIVES,.

ings for both sides lie moved 10 adjourn. Lost.
HOUSE OF REPRESENTATIVES,.
In the House, Mr. NEAL Rep., Ohio intro
duccd Joint resolution defining meaning Of Section
Of the act making apprO pria,ions for the payment of
Of pensions. Passed. lIt ncndes within the
provisions OF chat ali who have been or who
may hereafter placed upon tlc pension rolls by virtue
OF any special act OF tpngrc>SI
the House then in the morning hour the
Mr. HOsTETTER tDcn.. InG). VINO had chare. OF the
bill, Insisted on the previous question a. Tue krtu9-
cans decln 70 TX any time LOT action Oh the D De-
fore next January.
strategy OF declining to vote thus leaving the House
without quorum.
Mr. MCMAHON Dem, OHIO, from tho Committee on
Appropriations reported back the Judicial Expenses
bill win senate amendments he moved that the House
concur m the amendment excepting rom tae pIOVls-
Of thc bi section 1892 OF tho Revised Statutes,
stating mat he qua So not because t1e App,oprAIlSh
Committee wal opposed TO the exception put because
Mr.. STEPHENS Dem, GaJ, Chairman of tho Com
bill for tne exchange Of trade dollars for egaItender
BY unanimous consent IL was agreed that debate on
the bill should he limited 20 two hours.
Pending discussion, Mr.. ATKINS Dem, Tenn sub
mtted the conference report on tue legislative Appro-
copfrees had conceded most of The polnfs Of Inference
AfteI short debate the report was agreed TO.
MR. MORTON on THE TRADE DOLLAR.
The debate upon the Trade Dollar bill then opened
by Mr. Morton Rep, n. ", who opposed the bin. Nj.
MORTON said
Mr. speaker: \ few weeks since tho distinguished
gentleman from ohio introduced bin for The relief Of
The owners Of silver mines ana silver bullion in the
United States and Europe, and now the DISTINGUISHED
gentleman nom GeOrZa presents Olli Tor the reef or
the subjects Of the Emperor OF China.
In February 1873, when the passed authOriz-
ing the coinage oil the trade dollar u was worth irac
lion over lO4 GEMS IN gold. They were not coined as
money or circulation home but for export ani
measure OF value in trade, as their ule indicates;
they were, however, made lega!-endcr Tor -
in any payment but the people OF the Pacific States
objected to thelr circulation anh on the eth OF Nay
1876, tho ugshed gentleman, speaker Of the
House, introduced bill repeating the cgIlteDdof
quality OF these CONS. ON the l0th OF June, 1876. my
distinguished go league from Ncw-fork, Mr.. Cox, re-
ported The measure andt passed both houses Of Con
EttsS WItHout an oppos'ns VOC OF 5oCe All " s
coins held at nome were put IN circulation months atter
from New-lOrk ceased to DO "a lesd-tender Tor any
amount.
silver for the trade dollar which Spectators have
Daimed of upon citizens, II that alone could
discrtmnates against people and is IN favor of
tho OF silver in China, and for other reasons
Director OF the Mint IN bis last annual report. esti-
mated that less tnan 100000 OF trade dOllars-a or
Unted states, aud about 3o,oo0oOC 10 Cnins. where
they circulate as money, ana are, oeLGve, Iegal-
tender at their bullion vaue The trade dollar is worth
to-day about 30 cents. which would make the value Of
the 3O.OOOOOO held IL emma - |OOOOOO NOw, II TINS
bill becomes law we snail 50 long az the Government
maintain ega-teuder silver dollars a par In gold,
be DAY ing the holders Of trade dollars IN CHINA $4,000.
600 IN eold oT S2IOOooUO worm or silver or F3OOo-
900 more than can buy the same quantity Of silver
Tie first SILVER bin which the honorable gentleman
from OnO presented proposed discrimination IN favor
OF siiyernlne aud uuOn owners IN the United states
ana IuIopc o. htaIly ~ per Celt, anu u9W uie Shc
from Georgia proposes discrimination OF IL per
cent N favor OF Chinese subjects. snail be glad 10
know how the gentleman proposes 10 provide The
S3O000,0OO OF gold Necessary To carry ont the
gentleman certainly cannot expect to exchange
4l2l2-graln dollars with the chinese for trade
dollars Of 400 grains. Since the reconciliation Of
silver IN 1873, the Government bias coined 33 1S59jO Of
the dollar the fathers which ft was claimed would
rIy nj
does the gentleman suppose were In circulation on the
lst OF Junet one dollar Tor every family OF party OF
SIX United States, total OF 73O49l5 In coun-
w with a Dopuationoi 43O0OOoO, leaving 26'5Sl,-
tue Government AT the end of the next fiscal year,
without any new legislation, We shall have 59,4S590O
them than heretofore, the Government Will then
be housing and carrying AZ 100000.
the appalling total on the 3Oth OF June, 1850, VIII be
over 9000OOOO.
DO the gentlemen who favor this measure wish to
donate - 100000 to the holders OF trace dollars in
ChiDai DO they WISH view OF the sale for gold coin
the demonstration Of silver IN 1873 OF sl399,-
GOO 900 of United States bonds, the reduction
1865 OF nearly S60O000OO0 of principal ana S67 .OOO
900 the annual Interest charge, " the Increased
coinage of silver and hazard the credit OF the Govern
msnt by adding sum to the amount OF silver com IN
the wants Of the Treasury which may force the Govern
these bonds in depreciated silver or coin or
lees value than thst which the Government cemabaed
and received when the bonds were soda
Mr. Speaker, tlink our only safe way 49, Instead OF
increasing the coinage OF silver, TO stop 10 altogether
and wait the result OF the negotiation with European
nations for which We have made an appropriation Let
store silver TO It's Oh steadnesS OF Vaue ana thus pro
vide market throughout the world for our SILVER
product. am In favor of bi-metatlc currency when
ever such joint action can DC secured ana . dols.
worth Of silver Is coined IN q silver do.-
those who act wth nln GA the contrary ann TO maze
this country mOnOmetalic country to drive all our
United states, thus limiting the demand, lowering tAe
value OF our silver product, and compelling us 10 De
mono-netasts. We cannot maintain a double STANDARD
except upon basis of absolute equality Tor tho cheaper
poorer money VIII always drive the best out of crcUa
ton
The German Government has within few weeks
Withdrawn its silver from the market IhG question OF
the reconciliation OF silver IN Germany and England
has under Discussion and now the bullion value OF
tho standard dOlAr-"hloh was recohuy aI - Oehts
about sSl2 cents We can. m my OPINION Only luanldlh
"a double standard by JOINT acton WIN European
nadoDs, and any attempt 70 90 10 VI 70
lars viii my iud gment Dring great dIsaster upon the
bn.lues. interests Of the whole country. / hope tho
sourIeman wi bo willing 10 Withdraw tho bil, or TO
defer further consideration until joint action with
European nations can DO secured
Mr. BUCKNER Dem, MOI asked MI. Morton 20 what
cause attributed tho fact OF such small amount Of
silver being in circulation.
Ar MORTON replied that he attributed IL Ia tho IAoS
that the people did desire have Il IN circulation
MI BUCKNER also asked whether there was rela-
lively larger amount of gold than IN circulation
Mr. MORTON said that he could no, answer the ques-
% RIrCKNER suggested that the difficulty that
Mr. MORTON had no doubt that the withdrawal OF
email BIZ. would increase the circulation OF slNtI.
~ " r,,ER Nat. OhiOj of rcd an amendment pro-
vlding mat trade dollar reeoned under I'M, act
ha not be counted part of tue coinage OF silver re-
sirod by the Act Of February 2s 1878, AND prOValhg
farther that trade dollar that has been chopped or le-
taned fov circulation In China or other foreign conn
All ls excluded from the provisions OF THIS act
MIR FISHER Ulep. Penn.l offered an amendment pro-
vd ng that the provisions OF tho bl snail De enforced
only for period Of four months AFTER the passage OF the
mn. and spoke In favor or his amendment. -
MIR. MCIANE tDem, Md argued hat shYer shoniu DC
made equal gold and favored reducing the weight oil
the gold dollar. - -. ..
i mai uothing contained I'm the Act shall tie 50 con-
.trled as increase tho amount 81 lrkalenuei sNe
doII 10 bc coined per month under the limitations OF
existing law. - .,,,., n -, ~,
EoRI IIep MI Mr. LOUNSBERY lDem., n ", Mir.
iAsk Eli. usep. KIn.l. Mr. WEAVER Matt Iowa.. and