New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-02-16
XLVIrH CONGREss-IIID SESSION.


REGULAR REPORT OF PROCEEDINGS.
THE FUEpINa BrIL--MR. BAYARD IN EXPLANATIONS
OF SENATE ACKNOWLEDGEMENTS IN CON
TESTED ELECTION cAsE--THE RIVER AND HAh-
Dor BILL IN IHE HOUSE. .o
SENATE. .WAsHINGToN. Feb 10. 1881.
Bills and Joint resolutions were Teportea
bac. from committees follows and placed Oh 'no
endar: - 49,.
BY Mr. BAYARD Dem, DELI. from the Finance Ooih-
mittee, favorably, to admit free VI duty Inontes
General Washington, to be erected by the fehnSS ,
S,ciet q, mo Cincinnati in Falrmount Park. Phila-
delphia ,,o
Also. from the same committee, favoraby, for the
rcIief OF the Philadelphia and Reading Railroad CON-
BIZ Mr. LoGAN rep, III, from the Military Somm1s
rec favorably with an amendment Cor placing rnODas
G. Critenden upon the retired lst Win ths TAnA "n"
p ON N mosion Of Mr. BAYARD Dem, Dell the Senate
0SK % ~ canS to propos,ion OF
the secftary of the Treasury ,Sp 100 hi as II came
from the House for per cent 8 10 bond 81 INC per
cent go bond iepored from :ns te nonns OF The
issies remained as recommended by the secretary
Ard the House Should MAINLINE %RSr" Hrp bonds
pr always. The credit OF the country rs, to
Drt6Sr by law cur credit and banking system, ana
seuse ~ Il necdui where cIeut niVne IS "f
man Ii there was other consideration the uusJ va
nj eng specie resuInIuun beyond DOUBT WOulu po
WORTH ton times the diorence between anu r c On
n vii MT do 10 make attempt 10 hOat per CEN
~ WIZ, NJ Sai IIe did not IhnA it busincss-ke or
reasonable to take the present prcG % 81 th
nrr cents as basis for calculation as to tue price Oh tue
new ISSUE. In the opinion OF lac COhuttec gu
billion OF arbitrary power by the Gosrrnhe1' vne 70
Ter. touching its crca has never proved OF Vatup
pass the voluntary 10 inc & ~ ., en,n
would suggest dstrust aud want OF credt, anu ns cT
nnIsory action would uyOye interference WIN Tue
rights OF contract and property III me @ % con
trary TO the spirit Of our policy anu goVernmeuS b
compel reception Of loans ~ any class OF peopei i hi
committees amendment made the DouuS iece''"o''' 0
MT pOmUuiSOrlly ~, by tue DlIA5
After ful thcr explaining the amendments Oy te senaoe
Committee NJ. BAYARD remarked that IN tue nusn Vi
hOpeful confidence he uld PROVIDE aSalnst uAnH
suppress. While be- appreciated tue importance ~ , r
r. was ven more im portant settle on Inc
bed rock OF stable value IMAM even W reduce Tie ycA
Mr.. MCPHERSON tDsm.. N. j. advocated a 3 per cent
MIR KEENAN, Dem n. " spoke in opposition 70
long bond He believed policy on lie part OF no
Government To keep control OF the option VI p"ypE ~
NJ WILLIAMS Dem, KyJ-AnOther objection to tue tue
long bond Is at 80 long as II iS oa We W., ~ nnder
ria VI the National banks; Gnd am III Ia'or VI ubuo
sapplnx them by ~ means ~ any po"eE. ,, ,ho, be
NJ. MCPHERSON said in reply ~ question that ne
a haI ID DO"0' 'A'' . ~ ~ '''''
Thr question was taken on the amendments reported
by the FDance Comm tee 10 make tne U,auU 49, ~
The Secretary OF the Treasury Is her Dy ~
issu, bonds 10 nu amour. not exceeding S1OVo"Oo"o'
The next amcndmeut Of the Finance Commute was to
insert the words 10 denominations u e'O VI SUN"
multiple ui that sum- ,,.-......,..
Sif. TELLER (Rrp., COLI moved to amend by inserting
the words ten dollars ana twenty uOIldIs.
hr. TrIIer's amendment was rejected anu tne cou''
tcr'4 ameudmt ut adOl tea. ,.---.-- -.
The next amendment Of the FlnaLce Committee was 10
make the rate Interest 81 Instead u per cent; -
Sir. VOORHEES, (Dem., lLd), IN lh0tt VI tue nhhcL
Committee said tndt willie IA the committee n hau
agreed "a amebdmeus reported, nad sui reserves
tn night OF opposing tht IN the senate, anu NC no"
opposed his au"ndmchI because lie oeheFeu 'n" '"'
bonds onu Il be- hOIted Al per cent. . a.. g.,
Mr. EATON Dem, COnO) expressed tne oenei, iIoni
rouyrr-ltiun with hDlDcers OF great apinty, tHhI 4
three per cent 30 bond cOud be Heated WIN ease.
Mr. WILLIAMS dem, kyJ dec.arSu ulnseii peIieoti5
satisfied tInt the wuole Ci The debt could 10 easily
nO9tsd AZ per cent , ,,.,,. ,,o, tho
Mr. YES, (Deu.. MOI gave II "a his opinion that tne
report OF tnc Finance Committee was SIMPLY suDsiLS
of h.lt " per 10 the NaoLal OanSs, o-csuse the
bond W ,uI surely 20 20 them. . -, -.
Mr. PLUMB lR:p. kan) expressed Inc Opluion 'n t
the (i0yrrUu, 10 could money Ov not iuhulnH the
from lime To TIM. Tn,re war No question OF nOIo VI
,li.nOuor involved. Tue Government hal ftsttyen 10
it,e the option OF paying It's bonds next Year. DuI nau
MT uhitgatrd itself 70 do 81. 80. .,.....,.
MrMAIIACE dem, Pcbu) sad that II a three recent
c,f bnl cud be- Odtrd II udgh be done. and mere
ne agreed conservative S'uAt : from Delt-
ware m uppOsI to coercion Of hnaLcal lhs'utonS
Nj KiKKWOOD rep, Iowa. offered an amendment
makin duty OF the secretary o. me lr
amtnrz, public subscriptions to be received AZ all GOV
rnn,nt de OaIiO and National banks Tor t'c DouuS
and treasury notes authorized III me D TOE thrty uuS
n,for. giving aHy award 10. or making amy contrast
will any SYNDICATE i.dlvlduns or bankers anu -
award the fuI amount Of Ill u SuOscrlptOh. ,.
tnout action the anne idneht OF the flhauce
Cuiuulttrs or Oh rithct the amendments OHrreI
tret the senate $50 O'CLOCK HJ IIrhed leaving TAG
Fuudl.g bill 10 up tomorrow AS uhnA'sheo OuSl