Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1882-01-25
F0rty-Seyenth Congress.

hWtJ-OoNtutu OOHkEtbSs
TUESDAY, January 17,-Mr Brown advocated
his resolution declaring the inexpediency Of con-
tracing the currency by the withdrawal Of the
silver certificates or the discontnuance or fur
theHestriction Of silver coinage and that gold and
silver coin, based upon proper ratio OF equiva-
lence between the two metals and issues of paper
predcated upon and convertible into coin on de-
mand, constitute the proper circulating medium
Of this country. Mr.. Morgan opposed the Sher-
man funding bill, being satisfied Of the ability OF
the government to pay the Window bonds in
eleven years without drawing upon the surplus
revenues. He was In favor Of using this surplus
to extngush the debt at the rate OF 500 900, 900
per annum. He characterized the banks as an
incubus created In moment OF folly, weighing
down the government with their power He eug-
gested that the government should stop paying
interest on bonds held by the banks as security
for redemption OF bills, and the substitution in
their place Of state bonds Of undoubted security.
Mr.. George introduced bill to encourage agri-
culture and manufactures. It proposes to repeal
all duties and imposts on machinery for manufac-
ture Of cotton or wooden goods, or goods of hemp
or jute, or tools Of mechanics used In manual la
bor and on agricultural Implements He also
proposed an amendment TO the constitution pro-
viding for the election, by the people, Of Judges
below the supreme court, Of postmasters, mar
shals and various minor offices Drafts of bills to
carry ont certain Of Secretary Kirkwoods recon-
mendations respecting the Indians were received
from the president. E. In the house, Mr. Stephens
OF Georgia reported in favor OF a new metric coin
TO be known IA the "stella," for international
use, and of the goloid metric dollar and coins OF
other denominations After long and barren
discussion on the proposition to enlarge the COM
mittees, the house adjourned.
"WEDNESDAY Januarv 18th In the senate Mr.
Davis introduced hill for retirinp Judge HINT.
of the supreme court in consequence Of nbvsical
disability. Mr.. Beck resumed bis remarks in on
position. to Mr. Jnpalls' resolution declaring that
the pension arrears act oupbt not to be reneale1
The Sherman refundue bill was further debat ed.
MIR. Plumb advocating the reduction OF the coin
reserve for the redemption of notes tn 500 600.
600, and applying all the surplus revenue in ex-
cess Of that sum to the payment Of the three and
one-half per cent bonds. Another feature OF his
amendment provides that when by failure or Ii
quotation a banks circulation is withdrawn an
equivalent amount Of treasury notes shall be is
sued and that this shall be repeated from time to
time until the entire national bank circulation Is
replaced by the greenbacks. Mr.. Teller opposed
the secretary OF the treasury's recommendation
for discontinuance of silver coinage. Mr.. Pen
dleton favored Mr.. Vests amendment forcing the
banks to take the three per cent bonds In lieu OF
any others, ~ the basis of their circulation In
this connection and as showing that the banks
had been prosperous, he cited the fact that upon
basis OF S45O,OOO'OO0 capital they had In twelve
years divided $3.50 600 900 of profits and had now
surplus OF $1,000, 900, nearly eight and one
half per cent annually. In the house Mr.. Ding
ley made an effort for the revival OF our merchant
marine The postmaster general, in reply to the
request OF the house, said the present force OF
MS department could not during the present SEES
sion OF congress complete the work implied in Its
request for information respecting tho star route
frauds; that the important part of the records
was now in the hands of the department of justice,
and he should not feel justified in making it pub
lie except by the imperative demand OF the
house. distinguishing characteristic Of the day
was the call for information from the executive
department on great variety OF public matters
The session ended in an exciting debate on the
proposition to change the manner of appointing
the committees and also to increase the member
ship of certain committees, and great opposition
to these measures was developed.
Turpsn.v Janr,rv On tho sero,o tho hill,
ra,;fvng tho ac, n, tho Choc,aws ,ron,,n, r,oh,
of wav To a railroad tbrongh their territorv ,voo
recomm;,,ed bv reason ~ dorh,s ha;ra ro,sod
that the Cboctaws had g;ven spcb r;obt NJ
Dav;s, hin % norm;, I,d,a HINT 20 ro,,,o H.,
reason Of nbvsical incapac;tv the same "a ~ ba
had at,ained tho aas NJ sovortv ord h.d
served for vears was passed Tho doho.o -,
the Sherman finding hin was resumed Mr.
Wind,m onnosed the hill as nppecessarv and
likely to involve the government In loss ue
said II the government continued to pay off the
debt at the rate at which payments have been
made during the past six months. the entire
1851 900 900 of the extended fives and skies would
be paid in a little over four years. II this bill
passes and the revenues remain ar at present.
the government would lose, by loss of interest on
money lying in the treasury, more than it would
gain by the reduction OF the rate from three and
half to three per cent on the two hundred mil
iions which TINS Dill proposes to fund. Mr.. Hill
severely CRITICISED the action OF Mr.. Window
"h'le secretary OF the treasury, IN changing the
ra.e vi interest on these oonds without authority
VI law ana .he ex-secretary aoiy deiended MS ac
'ion' IN tue mousse 'heusy was largely devoted
" ueoa'e On mn hooeson sptopoSi'ion 70 increase
NV lnenoe'snip Vi 'ne ie''a'ns 'o"ni.'eeS MI
''a"ua.. s''onss Au'ooa'eu 'uv 'nosu0' e'''in
'ns INA. was NECESSARY " ia0ii''.e the pfepara-
.'on VI business 'oi pie'ens'on INC nouse' anu
illustrating MS point ny s'a's'cs % inc NUMBER
VI o'i' a,,ea'y oeio,e 'ne oo'niu,..ees MI 'oo-
in n' VI ma''a."use''s IN oppo'Oon 70 mr. Hin'
uaii "'sanen'' '",u 'ne oes' 'enieuy W secure
'ne 'o'S'uo,"'on vi 'no ouSinessoi 'ne house was
10 ieoomn'' 'n'S suoJeo'' ana go 10 "ork' Inc
ihotion 10 recohhii. WAS agreed 10 oy a vote OF
FRIDAY, January 2o-The senate was not in
ah,oa,, ., ,ha o,,,,,,,.oo, TN ~, -" IL.
I'm u c,a.a,a- - 49,. 49, - ~.