New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-01-21


of aboishing the lega-tender quality of
the greenback yesterday. A delegation of
hard money men have come to Washington
from the West to urge their views. Senator
DAVIS has made the discovery that
United States bonds can be issued without
any one finding it out Immediately.
Mr.. CHITTENDEN ON-FINANCE.
A STRONG ARGUMENT FOR HONESTY AND PRU7
DENCE IN FINANCE DELIVERED IN A MANNER
TO GIVE TIE CREENBACKERs TIE FULL BENE-
FIT OF II.
lBY TELEGRAPH TO THE TRIBUNE.l
WAsHINGToN, Jan. 20.-Every member of the
House of Representatives recognizes in Mr.. Chit
tenden man of the most earnest and
sincere political convictions and one who
never lacks the courage to express
them. Whenever Mr.. Chittenden rises to ad-
dress the House any financial topic he is sure to
command the close and respectful attention ofthat
somewhat noisy and disorderly body. Ever since
the beginning of the present session Mr.. Chittenden
has chafed against the restraints imposed-by the
disposition Of the majority of the House to prevent
any discussion OF the recommendations in regard to
the legal-tenders which were contained in the
Presidents message and he has oftendeclared that
at the very first opportunity he should make
speech on the subject and try to show that the let
well enough alone" policy is cowardly evasiye
and dishonest. The opportunity for which he hos
so earnestly longed and impatiently waited came
this morning, when the Buckner bill was again
taken up for consideration.
Mr.. Chittenden left his own place and took that
OF member who occupies seat IN the centre of
the Chamber Immediately in the rear of the desk
of Representatives Weaver De La Matyr, Gillette
and other Grcenbackers. among the latter being
this morning, that wOud-be Congressman, Il.
Moody Boynton, of Massachusetts, who Is contes-
tant for the seat of DIR. Loring. Thus stationed,
"on the dge of the Greenback lion den" as he
phrased it, Mr. Chttcnden declared that he intended
to speak some plain truth.
He said that he was heartily in favor Of the bill
under consideration. The banks themselves had
realized some time ago the necessity of strengthening
their com reserves and had now in their vaults
about the amount which they would be required to
hold if the bill should become law. Thus he re-
Marked the natural laws of finance having required
the banks TO do a certain thing, Congress comes IN
to approve it.
After few remarks in favor of the bill. Mr.. Chit
tenden proceeded to read carefully prepared
speech on the legal-tender question. Legal-tenders
In time of peace he declared to be perfect snare
"a political device calculated to destroy indivi-
dual honesty and public integrity. There is. said
he one shadow resting on the result of specie pay
mens il is the fact that the United States has not
paid single dollar of the $346, 100000 of floating
debt Every greenback redeemed has been replaced
by forced loan upon somebody else for the same
amount If by thus paying the floating debt in
Dther promises to pay is meant resumption then re-
sumption is broad farce, 1" a crime against the
Constitution and against common sense"
Mr. Chittenden favored depriving the greenbacks
of their legatender character before the first of
uext July; he would buy up and destroy them as
rapidly as would be consistent with safety. and
would stop the coinage of silver dollars.
Mr.. Lounsbury, of New-Yo followed in short
speech in which he said that he in favor of the
bill but would approve il more heartily ifit should
require banks to keep their whole reserve in coin
Mr.. Lounsbury also tried to prove that the Admins
traton is entitled to particular credit on account
of the successful resumption of specie payments.
He then devoted some time to a eulogy OF the late
Democratic administration of the State of New-l 0rk
The bill will come up again tomorrow. Mr.. Buck
ner who has it in charge, will move the previous
question. Mr.. Warner. of Iowa.will then make f.
nancial speech. Mr. Bucner Will try to force the bill
to a vote tomorrow, and if he succeeds there Is
every probability of its passage.