The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-05-14
FORTY -sIXTH CONGRESS.
WASHINGTON, May u.
AENATE.

IOOHlWlttee on flNuNCeA HOUSE ulll lOT III
exchange ofsubsidary coin for legal tende
money and asked for Its consideration.
went over under an objection.
The consideration was resumed OF tn
legislative, executive and judicial approp
ration bill.
The clerk read the clause which thu
Committee on Appropriations proposed
should be stricken out, namely: In orde
to provide for speedy payment OF arrear
ages In pensions, the Secretary Is hereb!
authorized and directed to issue i'm
mediately In payment thereof, the ter
millions dollars in legal tender cur
renCy now in the Treasurykept as Z
special fund for the redemption Of irac
tional currency"
Mr.. Booth opposed the amendment
striking out the clause and could see nc
reason why the money should not be used
for the payment OF arrears Of pensions.
Mr.. Bayard supported the amendment
and caused to be read letter from the
Secretary OF the Treasury, saying that the
diversion Of money for tho purpose stated
would be to increase the public debt to
that amount and suggesting that It would
be better to issue bonds to meet the o6li-
CATION.
Mr.. Beck said that the Committee on
Appropriations were divided on the
amendment. For himself he was in favor
OF directing the Secretary OF the Treasury
to pay out residue of $4,000, 900, name
ly: s., ,4i6, ,3SS for arrears pensions. The
redemption OF fractional currency had
fallen from $200O,000 to Sl,200,000 u
month. Why not pay out the money
which was lying idle instead OF issuing
bonds.
He criticised the financial policy Of the
Secretary Of the Treasury, saying that the
latter had made himself the trustee OF the
bankers and bondholders by giving them
their choice OF the coin in which they
shall be paid, instead OF paying them with
silver coin.
Mr.. Plumb wished to say that when
ever the expenses Of the Government ex-
ceeds its receipts, he would increase the
taxes instead OF increasing the public debt.
lie was In favor OF paying arrears Of pen
sions with the remainder OF the money
heretofore set apart for the redemption OF
fractional currency now idle in the Treas
uary.
Mr.. Davis Nv. Va.), Chairman Of the
Committee on Appropriations, said that
the question ofinCreasing the bonded debt
was not in this bill; the question involved,
was whether they should take backward
step in the resumption, which he was not
willing to do, although he did not ap-
prove OF all that the Secretary Of the Treas
ury had done in the way Of resumption,
he thought the Senate ought not to inter-
tere with tho law for the redemption OF
fractional currency, but they might pay
arrears OF pensions with the 23,000,000
silver dollars in the Treasury.
Mr.. Voorhees, said he was going 10 vote
ior the application of the 10000, ,000l lying
ldIeln the Treasury TO the payment OF
arrears OF pensions. The gentleman from
West Virginia MIR. Davis) informed this
body that he would take no step backward
in resumption. He (Voorhees) would take
q thousand steps backward il he could re-
store the interests Of the people, wrecked
by the bankruptcy thrust upon the coun.
try. The machinery OF the Secretary OF
the Treasury had withdrawn the bene-
fits OF circulation from business channels,
and placed them in the hands Of the capi-
taists resting on the shoulders OF labor.
There was no specie resumption, but only
an equalization OF currency. If an act
had been passed declaring that the Gov
crnment would receive its own money for
what was duo it grcenbacks could have
been put ten years ago where they are
now. The boast was made OF Sl50, 900, ,000of
bonds being taken in one day by u National
Bank or two. When so much money was
drawn from the channels OF circulation the
country became dead instead OF run.
ming stream, carrying its fruCtiiying power
over the land. Itbusiness was prosperous
money would not be found seeking invest
ment at 4 per cent. In time OF peace the
spirit OF avarice seeks opportunity to hold
more OF the public debt while people are
hungry owing to the withdrawal OF capital
from trade and unable to obtain the labor
which they seek.
Mr.. Allison said the payment OF arrears
OF pensions must be provided for before
any other obligation, therefore he was op-
posed to diverting the money set apart
for the redemption OF fractional currency
to that purpose. There was apart from
that, ample funds in the Treasury to pay
all pensions.
Mr.. Wallace was in favor OF the bill as it
came from the House, and therefore
agreed with Mr.. Beck, his colleague on
the Committee on Appropriations. The |
bill simply proposed to apply idle money
to the payment OF arrears OF pensions. He |
agreed with Voorhees, That there was no |
general resumption OF specie payments,
hut merely an equalization OF the cur.
rency.
Mr. Edmunds would vote 10 strike out
the clause under consideration, because il |
was vicious and involved financial ques.
ton in nm appropriation bill.
The question was then taken on strik.
ing out said clause as recommended by
the Committee on Appropriations, direct.
ing the Secretary OF the Treasury to pay
OF pensions with the $40 900, 900
kept as a special fund for the redemption
OF fractional currency. 1t was decided in
the negative-yeas %, nays 37-and there.
lore the clause remains in the bill.
Adjourned
HOUSE.
Mr.. Knott called up the veto mes.
sage and demanded the previous question
on tho passage of tho Military lnterier.
ence bill over tho Presidents veto. The
previous question was seconded and the
llOuse pIOCGGtltu u NUlc. luC result OF
the vote was, yeas l27, nays 81. So there
not being the two.thirds majority required
by the Constitution, the bill was rejected
Ten Of the Grecnbackcrs voted in the
affirmative, the other three, Barlow, For
syth and Russell, not voting.
The veto message was then referred 10
the Judiciary Committee.
Mr.. Kenna asked leave to report from
the Committee on Commerce the bill au-
thorizing expeditions by the Engineer
department for the purchase OF sites in
execution Of the River and IIarbor bill Of
last session, but objection was made by
Mr.. Sparks.
onmotion Of Mr.. Hawley, 1t was ordered
that the votes yesterday on the Income
Tax Bill and on the Army Appropriation
Bill shall he republished In the Record and
the addltionsmude since the announcement
OF those votes. The vote on the income
tax was first announced as l04 yeas and o.
nays. It now stands yeas, l12; nays, 04.
Mr.. Warner moved that the morning