, 1880-01-16
WASHINGTON.
A Probably Protracted Finan-
cial Debate Begun inI
the House
Over the Bill Providing for the
Character Of Bank
Reserves.
Morrill,, i'll tho Senate, Also
Takes Up The Question
Of Finance
In His Argument Against
Woods Long~Ter1n, Low
Interest Bonds.
Bayartl Satisfied that His Legal
Tender Scheme ~ Hope
lcs]y Dead.
Census Superintendents Decided
Upon for the State OF
Illinois.
The Investigation Of tlIc White River
Massacre begun III the House
Committee.
Gen. Adams on the Stand and Josie
Meeker to Appear To-Day.
13ayartl Satisfied that His Legal
Tender Scheme II Hope
lcsly Dead.
Census Superintendents Decided
Upon for the State Of
Illinois.
The Investigation Of tlIe White River
Massacre begun III the llouse
Committee.

FINANCES.
TIL: DEBATE llEDtrY.

TlfE DEBATE nEGf1Y.
Special Dtspaseh to The Chteapo 7rfbure.
WAsHIx0rOS, II. C., inn. 16.-The tlnnnce de-
batc has begun in both Houses. and tho battle
I'll l!nance. which 50 nlnny members III both pnr-
lies had hnpcl tn nynd, sccnls inevitable. Mu1-
iuy it IL expected thut tho del'ato upon tho
f}ayanl resolution will bcgf.t, md no uf,e would
lie rush enD,tRts to predict WHEN It will tersnf-
nAte. In the House there was Ill hours tlebato
OH tho hill reluttvc to bank reserves, Price ut
Iowa and Lewis OF A!nbalna supporting tho
bill. Price reviewed tho present condition
Of tho Nntfonal banks md tho duty
Of tho Republican purity. lie snil TINT
IN October tho amount IF rcsurve required
tn be held by National hunks, under tho present
law, WIS $1a9, ,OO0,0D. On the ID day IF October
they hell S4e ,000 900 0f cuI1l. hnying increased
their c0is reserve In eight years from $10,0u0NU
to 81, ,O00 600. an,l that without my law requiring
nr compelling them. Tho only question to l,e
settled WIS whothor tho adoption Of this measure
would Increase puhlic confidence In tho Euuonnl
banking system, or whcthor tho country would
bn us we'll satisfied to let tho hunks pllrsue their
nwn c0urse, relying upon thor business Gil
pacity and integrity for
TIE KIND or FuSns
thoy shatt keep aR reserve, Price WIS mot lit
fnvor of any change Ut Inv. either rs to tho
quantity or quality af tho pnpcr mo,Icy. lte h,-
ltevcd thnt agltation of this question could not
result in Htl, and would, undoubtedly, result
III much harm. Ii 1t was tho intention to frtlru
the Hcrcnhaok, then why mt hnya4 tho courHKe
tn say HI, and let tho people know TINT Wall
street has trtumphnd? IIe thought Tint II
tho grcenlmck. tho child Of tho Republican
purity, wns tn be hurled, 1t should
ut least hive Christian funornl. II
the Hrccnhnck did mt command our armies md
carry tho ting to victary. it fed and clothed
thuse who did. THO Rrccn.Nlck hMtt commenced Mt
tho thIrty-fonrth stop, nn.l tn risen until 1t now
stands cnnfcxsedy tho equal nj gnld antl silver.
This statement WIS met with applause fr1m tho
Grccnbnckcrs, but tholr Joy wns uf short sttErn-
tion, for Mr.. Price continued md said that hu
waa Tho Inst nun In tho world 10 advocate my
paper money that Is mt rciecu,al'to In Rtatl
or silver. Mr. Price saEd thnt whcll
tho Silvcr-n nn!lnr bll1 wis hcfore the
1Ionse many persons prnphcsicd thnt II It tW-
came !aw tho premium Nh gntd would he
largely Increased. tho resumption af specie nny-
mcnts bo embarrassed. md possibly .'efcatad.
stc,Iti IT .y,lng up. EMs NIno tnwr out L sight,
1n ero wn via 'ao @ Eo ny t % tho esso y
tho silver dDllAr commenced.
TIIEisE WAK FINANCE TALK,
too, III tho Se1lutc. MIR. Morrill, snltto mn clat,.
rHtl. speech on tho question At rtt1lNllnE tho
publ!o debt. Ho mntntaincsl tint tho Govcr,,-
mont cannnt expect to he successful In SECURING
I'D A' ."t ~ nsSanfp ' soS "is he % tke 20 q e tc
present flnanci.I aituatlon tu ruf.lnl tho re-
Manicr Ut tho outstanding 'lGht ut thnt rs.tc.
tret, which h,ls tho Government R,ar4sntee,
now kta1,.ss ut only Nm ec,ltt net le thought II
tns rate ioats lmsalc Tho views Of sir. SinlriIi,
who succeeded HcnMtor sherman AB ChAir.
nun Of tho F'%nce o,, com:nt,tt,sc a'1d ,,sn,, whH
With tio secrctary Of tho Treasury q. t'tnmctal
subjects. nro p'rinps important. Tho follow
r's & 'rrss e sas tnns enn bs na
t,tI,lnt l. much lcaA thnn Iwrcetlt All thu con:
eessio1.s now ntninah!o below that E..tt' would
l,u siafuInnlly provided AZ To tho rufMnlng ALL!
the oitere!tln,ls Ut the syn,cnsc. Mr. sl1rriil
inR coultl hayo nrocce.!ci 1nnro rapidly witha1t
rsits,lnturug eerltlua difficulties. The sMbscr'-
~ ls YETI BY t. but tho taks s wtiSh ;,,t ,.E.
tpnths Ut per cent prttlt, though
THE n0sns AHE NOW QUOTED
IN tho market nt to ~ per cent aboyo pnr. or
ixci IL ~ tic aov:r,"!ent. rh's risc il Tecc!lt,
null FIR L. considerable tth,G 1t WIN doubtful
WHITTIER r tnc ss. w'' q ~ sis %f f% s T'rs %
tho ,nst ysslr t,osu wis il fal Of THO per coHts
in, fr tho recovery 'f tho lnarkct tho snhscrii
cfr would huyo met with Il ioss. The ltnths-
sa* sna %ns aS ey % h TIT ts aps IT, !" lit 'xs wrs
nsmirt"t to tnkn them aftor u little !tclny. Fur
tho rlSk nm tho ,.etunl K.'ln would hardly b,
a,it.n crullt tny fairly bo tlna to tho Subscribers
TOR their Ai.l hlh IN advancing auh lnnlhtlintnK
tho vnnu Ut tho tpun III tho mArkct." Morrill,
Woods W per cent lifty-yuar b0ad.
AIt. NOteillLL SAID.
"Assun,tnR tho !nturtst- -bcArinE t1ebt Of tho
United StmtA1. OF 15Ai tHt', 8:u tn tU Invested III
per cont 0a, ami that III annual rtytnollt Uf
xaL ~, ,0N slAl 10 tllltu ind Invested III sink
tnK fund. with B0sni-RntitAl rtinytsttneNk tsf
ntGrtAt ut per ceslt, uni tho Wh0lo duht would
be extn8lIlshct1 III 1u6A tilan thirty-nno yoatH.
4 much HEnllur xiM would Bxtln4l!fsil the debt
Il. loss than tlfty yenrK. MortKsKcs which Mr1
never t0 M atA lrtI 1tfllsOltN IN tho neck IT tho
pero. 4 !oam of Fso). .0D, ,0Ai to run ffty yeAts,
it ~; per cunt iteroat, wth,ll b0 f,!r nore tx.
fenxIvu to tho cnuntry than tho salnp an ut 1
iNr cent fur thirty yours. We ahnAd ho re-
;illlr tn l,ay 100 Mn IT intArust tho u!f
l,er cent l.n, llatelltl ut $910, ,oU, ,M1 OH tho
i,er cuut ln4lti. A !t,n4 ttfty-yeas lonn IL thus
s.x,tl strfppet! Of nll Altraclt0ns, but a 3n per
| cont lMHil, deposited with tho United HtattM
| Treasurer H. security fur the note-h0lders Of
EntlottAl banks, wt,,lla 10
HEAVY REDUCTION 0F THE RErURIrY. =
INV required. Tho ntltes of tho NntI0nAi banks,
| shuMld be kept sogurc beyond Any contingency,
Aud II bOntla OF lCHA value nr = substituted y
4irlter nlarElH lutsyt 10 Feqursl IT our credit
III gthki enough u obtaln y Mt ut nut oyer ler
low rHt0 Ut interest fur dc1ta tksartng hlXlnr
r.4to, tho cMsIest opportunity should 10 seizAsl
u accomplish the object anu nuke stlrn OF
That opportunity. e II believed. y now
prvscntod Bt,luU millions Of our debt will
| io absolutely due IN lesa th4n nno
ysar. and. with what. will be redoenaple In issa