The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1879-12-18
Forty-slxah COngress--SecOnd Session.
WASHINGTON. December L., 1879.
SENATE

SENATE.
MIR. Davis Cfrom the Judiciary Commit
tee) reported adversely on the bill to estab-
lish a United States circuit court for The
State of Texas; and it was indefinitely
postponed.
Mr.. MOI gan introduced joint resolution
providing that all public lands which have
been granted by Congress TO certain desis-
mated railroad companies TO aid 10 the coll
structon OF their respective lines OF rail-
road, and which have not been earned by
the said railroad companies through pro-
per fultilment Of the conditions Of the re-
spectiye grants, shall be declared forfeited
10 the United States, and shall he restored
10 the public domain, and be thrown open
to settlement within ninety days after the
passage OF this act.
The following are the names OF some OF
the railroad companies Affected by this re-
solution, together with the amounts OF land
heretofore granted them and by this act for
fellcd: Atlantic and Pacific, $4,000, 900
acres; Texas Pacific, 1S,000,000 acres !;
Northern Pacific, 47,000,O00 acres; Gulf
and Ship Island, 100000 acres: Alabama
and Florida. $4,000 acres; Coosa and Ten
ncssee. 1926 acres; Mobile and Girard,
Sal 900 acres; Coo>a and Chattanooga,
$50, 900 acres Alabama and Chattanooga,
S9S.O00 acres; Pensacola and Georgia,
I ats. 900 acres; Florida. Atlantic and Gulf
Central, $4,000 acres; North Louisiana
and Texas, Gl1,000 acres; New Orleans,
Baton Rouge and Vicksburg, $4,000 acres ;
{, Louis and Iron Mountain, 100000
acres: Little Rock and Fort Smith, 1,009,-
600 acres.
Tbe resolution was referred TO the Judi
ciary Committce.
MIR. Morgan offered the following resou-
ton: That the continuance OF the eNlS'lhS
yolumc of United States Treasury notes,
with their legal teuder preserved ana the
maintenance Of their equivalency In faiue
with coin. is demanded BY present necessi,
lies OF trade, commerce, and industry, ana
thot full restoration OF silver coinage 10
equal with gold IS necessary to secure TO the
re,ple OF the United States sufficient anu
permsnent supply OF money to maintain our
national prosperity.
MIR. Morgan, speaking upon his resoia'
ton, said il was antaSonistlc 20 the reso'a'
t,an. recently offered by the Senator 1Eoul
Delaware (Mr. Bayard). Though the prln-
piple Of that resolution might be theofe'i'
callv correct, there was danger OF Solng too
fast in lis enforcement. We are too prone
to think our existing prosperity peru"
nent. Other countries, however, are Dc
ginning 10 uNuSiSSii 10 :"
kets: and it is not improbable that w
will thus lose much OF our advantage IL
rorelgn markets also. II this occurs
we shall have, need OF all the goou:
sound money we can get, and posslhl.
more. to prevent the, calamity. fhe move
mept represented BY Mr.. Bayard's reSoiu'
ton is urged on chiefly by great capltaiiSss
and although their opinions are entllieu tI
great weight, their financial skiii Is no.
easily diverted from their own welfare 6
the Interests of other classes. New 1ofs
is a great financial centre, and the ireaSuIS
Department does not, seem to be apie &c
carry on It's operations without the ana o.
New York bankers, but it does not foiioM
that the interests OF the money centre ere
antaeonistic to those Of the whole country
CAPITAL results from the labor OF the people
and should not be organized against them
as il is in this movement, to destroy the lesaf
tender quality OF greenbacks. Our people
have confidence in our pa per,mQney because
thew know 1t rests on their credit, and tneS
are determined aud able TO- pay II IN coin
Capitalists, however, wish TO be able TO lene
nassional-bank notes 70 the people ana pa.
then, for their crops 10 this currency s pu'
when the people pay their debts. eapis iistl
demand aciescripiion OF na9ey' W hose value
shall bs entirely Width the tcpntro! Q
NATIONAL banks, II there ever Wss 4 tlla'