Morning journal and courier., 1881-01-07
FORTY-sIXTH CONGRESS.
WASHINGTON, Jan. 6

SENATE.-Ihe first b1u on the calendar was one for the punishment of tramps in the District of Columbia. Mir. Herman objected to the classification of all beggars as vagrants and moved to strike out the words s'or who habitually go from door to door or place to place, or occupy public places for the pur pose of begging or receiving alms." He in- sisted that it was no crime for deserving person to ask aims, and thought 1t very un- just to send person to prison simply because of honest poverty.
 The morning hour having expired the bill went over and the bill for the relief of Ben Halliday came up unfinished business. MT. McPherson argued against the bill, and Mir. Teller in favor. Without concluding the de- bate the Senate, at D. m., went into execu- tive session, and when the doors were re- opened, adjourned.
 HoUsE.-The morning hour was dispensed with and the House then went in Committee of the Whole on the funding bill, MT. Covert of New York in the chair. Judge Kelley was recognized as entitled to the floor in opposi- tion to the bill. He said na- tional debt is an evil to be got ten rid of as soon as the resources of the country will permit it to be done. Our resources were ample now for a speedy pay ment of the debt. Between August, 1865, and June. 1879, we have paid an average of $57, 900, GOO annually, and one of the ques- tions presented is, can we pay this debt with out borrowing He asserted that $60, GOO, 900 paid annually would pay the debt in ten years. That could be done, for since 1865 we have paid an average of $57, ,OOO, 900 per shall we mortgage the property of the people of this country for ten, twenty or forty years? That was the question. MT. Kelly then went on to say that there was delusion that the debt was payable in July next
 Whoever would make such @ statement deliberately, after an inquiry, after an examination, makes a false statement The debt natures in July, but it was payable at the option of the government. He argued that it was inhuman extravaganza to make a long bond for an op- tiona1 debt which the government could pay in ten years. Under the circumstances we would be criminal to surrender an optional bond for long bond. He was not opposed to refunding if the government would retain it's option but he would not refund it in such 8 way as to make it necessary for the government now to buy up the bonds at 8 premium. His friend from New York (dr
 Chittenden) would no doubt ask whether it was proper to pay six per cent. when money can be borrowed for three per cent. To that he would answer that in forty years, the time in which these bonds might run, the
 government would pay 120 per cent. inter est. MT. Kelly quoted figures to show that @ long bond at three per cent. would cost the
 government more to redeem the bonds.
 Having some time left Mir. Kelly yielded it to MT. Weaver, of Iowa. Mir. Weaver took the position that under the law the bonds were to be paid in lawful money, and he con- tended that it included silver and legal tenders as well as gold. He argued in the same line as Judge Kelly, that more interest will be paid on long bond at three per cent. than at the present rate If the bonds were re- deemed, as they could be in few years. Mr. Chittenden, of New York, was next recognized and gave notice of an amendment, without which he said no funding bill would
 be perfect, which was to repeal all acts or parts of acts imposing tax on the capital and deposits of savings banks, national banks
 and private banks, and that the tax upon the circulating notes of national banks shall not exceed II per cent. per annum, and also pro-
 vid1ng that the total amount of silver dollars
 of 4124 grains shall not exceed one hundred million dollars. As a test upon which to base his remarks Mir. Chittenden sent up and had read extracts from speeches made by General Garfield in July, 1876, and in November, Chittenden called the greenback question, in which General Garfield took the ground that the greenback currency was g forced loan Mr. Chittenden argued that while there was no doubt that the resumption of the bonds
 was optional, the question was whether the government should pay 8, or per cent. interest Referring to the silver question he argued that it was not common honesty to pay bonds either in silver or silver certif- catea. He again quoted from and endorsed General Garfald's views, and expressed the