New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-01-28
SENATOR BAYARD's SPEECH.

Az sprr EXPOSITION OF HIS RESOLUTION on THE
IEGAL-TENDKR QUALITY OF THE GREENBACK.
By TELEGRAPH TO TIE TRIBUSEl
WASHINGTON Jan. Ex-senator Bayards post
mortem grafton in support of his defunct resolution
TO deprive the greenbacks of theirlegal tender quail
ity was worthy of more hopeful cause. 1t was, in
fact. one of the best financial speeches made in
the Senate. 1t commanded the close attention OF
nearly every member of the Senate and of large
gallery audience.
Senator Bayard said that it was not intended to
DESTROY the convenience and assistance of the pres
ent paper currency, but that currency rests upon
the credit that it is convertible into specie and Will
be paid and he felt assured that by letting men feel
confident that stable standard is ultimately to
measure all their contracts. they will naturally feel
safer to enter into contracts. This would give them
assurance that lapse of time will not bring with 1T
alterations IN the basis on which their agreements
were framed. In regard to the denunciation OF the
money powerr Mr. Bayard asked
els there to Discrimination, suspicion and assault
visited upon those in society who have been more sue
Is il not money power that enables poor iaborer to
become the OF che pickaxe or shovel with when
that enables hltp to procure wheelbarrow Is il not
money power that enables his savings Of years la
bor temperance and frugay 10 give MN tnc means W
purchase q horse and cart ~
In conclusion, Mr.. Bayard delivered some points to
members of his party for assuming to interpret
the utterances of the fathers of the Democratic
party in support of their heritical theories. The
speech was necessarily historical to some extent.
As was inevitable, much ground was travelled over
that was familiar to all who have watched the pro-
gress of late financial debates.
THE INTEROCEANIC SHIP CANAL.
THE HOUSE COMMITTEE IN FAVOR OF THE MONROE
pocrRINE-AN IMPORTANT DEVELOPMENT.
IBY TELEGRAPH TO THE TRIBUNE.
WASHINGTON. Jan. 27.-The members of the
House Select Committee on the Interoceanic Ship
Canal held a conference with the Secretary of the
Navy last evening. The purpose of this meeting
was to informally confer upon the canal question
and to ascertain the views of members of the Com
mittee.
The proceedings, for some unexplained reason, it
has been decided to keep secret, but while action
was taken it is known the interchange of opinion
showed that the Committee is practical unit In
favor of the Monroe Doctrine. and that some men,
bers of the Committee are such enthusiastic advo-
Gates of the doctrine that they would be willing to
60 to war to prevent the construction of an inter
oceanic canal under the auspices of France. or any
European allied powers, without the preliminary
consent and cooperation of the United states.
The State and Navy Departments are said to
have made an examination of all treaty rights with
the Central American Governments, with view to
consideration of this canal question. There is
one fact which has probably been forgotten by
most Americans, and which may come to have
very serious bearing upon the interoceanic canal
question. In 1862 under the act abolshing slav-
ery in the District of Columbia, an appropriation
Of 100000 was made TO aid in the colonization
and settlement of such free persons of African
desccnt that then resided in the District
of Columbia including the slaves then about to be
smancipated, as might desire to emigrate to Libe-
ria 10 Hayti or to such other tropical country be-
youd the limits of the United States as the Prcs-
dent ight determine. in the Sundry Civil bill, ap
proved in July. 1862, there was an appropriation OF
$500 900 made to enable the President TO carry out
the purposes of the Emancipation act in the District
pf Columbia and to assist in colonizing the negroes
beyond the limits of the United States.
asm in the scheme is reported at that time, to have
grant of some 200. 900 of acres condition that
he should bnild certain military road, which he
did build This strip of land extends from the Gulf
of Mexico to the Pacific Ocean, and has good har-
Dor upon it at either end. small colony of negroes
located upoD this land, and the Government ex-
pended some S2J. 600 in the erection Of buildings
mud for other purposes IN their Dehai1.
The relations Of the United States to tins grant,
and the possibilities of making use OF such property
rights as the United States may now have IN that
country, were among the things considered at the
conference last evening.