The Cheyenne daily leader. [volume] (Cheyenne, Wyo.) 1870-1884, 1879-01-16
BY TELEGRAPH.
XIV. CONGRESS.
The Senate Authorises an Inquiry Into
the Cheyenne Massacre-An Inter-
convertible Bond Discussion
In the House, Etc. Etc.

day, the bill now goes to the president.
Bills on the calendar not objected to,
were considered under the Eve mlpute
rule.
Mr.. VOORHEES, submitted a resolution
instructing the committee on Indian
affairs to inquire into the circumstan-
ces which led to the recent escape oi
Cheyenne Indians from Fort Robinson,
Neb., and their slaughter by United
States forces. Agreed to.
The house bill for the payment to
officers and soldiers of the Mexican
war Of three months extra pay. pro-
vided for by the act of July 10, 184S.
led to long discussion. Mr.. Edmunds
submitted an amendment to make the
act apply to those who served in the
late war for the preservation of the
union. The bill was laid aside with
out action.
The bill to amend the patent laws
was taken up, and pending discussion
the senate went into executive session,
and when the doors reopened it ad-
journed.
HOUSE.
In response to a resolution, the
speaker submitted a communication
from the secretary of the treasury
transmitting supplemental statement
of the balances on loan account in coin
standing to the credit of the treasurer
Of the United States in national bank
repositories on the lst of January
1879. The aggregate amount Of bal
ances was SAC. 1893, 1853.
Mr.. Wood, chairman Of the ways
and means committee, reported back
the bill authorizing the secretary Of
the treasury to issue in exchange for
lawful money United States certificates
Of deposit of the denomination of $40,
bearing interest at the rate of three
per cent, and convertible at any time
with accrued interest into four per
cent bonds. authorized to be issued,
and directs that the money SO received
shall be applied only to the payment Of
500 bonds.
Mr.. Kelly submitted an amendment
so as to make the certificates converti-
BILE, with accrued interest after six
months, into lawful money, and at
any time into four per cent bords.
Mr.. Wood called attention to the
bill as introducing novel feature into
the affairs of the government SO far as
the producing classes were concerned.
1t would afford the poorer classes an
opportunity of investing their small
earnings where they would be safe and
secure and not subject to the instability
OF private corporations. 1t was pro-
posed by this bill to make national
savings bank where there would lie
positive and absolute security for every
dollar deposited by the poorer classes.
! and the result of which would be to
make these classes of people copart-
ners in the government itself. Anoth-
er effect of 1t would he to cemunt fra
ternal concord throughout the land.
Mr.. Kelly said the only provision in
the bill which was characteristic Of a
savings bank WIS that the government
would receive the deposits as low as
ten dollars. There was no other. The
United States government proposed to
engage the laboring people in game
of chance, of which the law was,
Heads l win ; tails you loose" Nc
laboring man could have any benefit
from the bill. 1t would turn that class
into game for Shylocks, that concen-
trated about the stock exchanges Of the
country. suppose poor man had de-
posted $40, and found himself unable
| to deposit more, he would have to wait
123 years and four months before he
would be entitled to interest. :.
Mr.. Banks said he would favor the
general provisions of the bill, but it.
effect would be TO cause dep sitors in
savings banks to draw out their funds
and then the banks would be compelled
to foreclose mortgages, and that would
cause disaster.
Mr.. Burchard preferred a govern
ment savings bank to this scheme.
Mr.. Ben. Butler opposed the bill as a
delusion and snare. He contended
that poor man would lose money BY
it, for If ever he wanted to cash his
bond, he would have to submit to u
brokers' shave, which would be greater
than the interest. He further asserted
that the scheme was to get greenback,
out Of circulation, for there was ne
way Of paying them out when received
for this purpose.
Mr.. Hewitt opposed the bill.
The first vote Of the house in regart
to the treasury certificate bill was OF
the Kelly amendment, and it was re
jected; ayes 81, nays l5l.
Mr.. Burchard's substitute was alst
rejected; ayes 81, nays 90.
i Mr.. Springer, Of Illinois, moved t,
lay the bill on the table, pending which
the house, after voting down the mo
tion to adjourn, took a recess till Z 80
The house resumed consideration O
the bill the first vote being on motor
Of Springer, to lay bill on the table
This was defeated; yeas 7S, nays los
and the bill then passed; yeas III. nd,
Mr.. Wood, chairman of the commit