Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1884-02-14
PORTY-EIGHTH CONGRESS.
sen ATE.

Mr.. Pendleton introduced Dill TO grant
eight condemned cannon to be used in the
construction of statue TO Gen. VIM. II.
Little.
Mr.. Dolph offered a resolution which was
agreed to, directing the committee on rules
TO consider and repsrt on the power and ex-
pediency of restricting. bv rules of the Sem
ate. the introduction of bills fer private re-
lief, to bills reported by the committee of
the Senate, and to cases where the petition
for relief shall have first been presented to
the Senate, referred to the committee, and
the introduction of the bill for the relief
prayed for recommended by the committee.
In explaining the resolution Mr.. Dolph said
the people of this country suppose Congress
is engaged considering legislation of national
Importance. but the contrary is the fact.
Congress had been turned into a great judi
cial tribunal to which every man having q
claim against the government brought his
case.
The Senate proceeded to the consideration
of the special order for the day, the bill in
troduced by Mr.. Mcpherson and reported
favorably by Mr.. Bayard from the committee
on finance. The bill provides ''that upon the
deposit of any U. S. bonds bearing interest,
in the manner required. any national banking
association making the same shall be entitled
to receive from the comptroller of the cur
rency circulating notes of different denomi-
nations in blank, registered and countersign-
ed as provided by law, not exceeding in
amount the par value of the bonds deposited"
There was one form of government, Mr..
Bayard said. of which we had had q little to
much within the last 20 years, and that was
bureaucracy. He did understand that the
department made law that was con-
stitutional law in the United States.
But to be treasury favorites he'd
certainly been fortunate thing for number
of people in this country. He, for one. did
not desire to see the currency of the country,
a thing of such profound Importance to every
transaction, great or small, in any degree
under the finger or thumb of any official
however respectable or high in the place.
Mr. Sherman followed by saying he saw
no solution of the silver question. All that
we could do was to drift along until the ex-
portation ef gold it disappearance from cir
culation and its conversion into an article of
merchandise should reduce all value to a
silver standard, when no doubt the practical
good sense of the people would lead them to
coin both according to their value and not
according to the value of fifty years ago.
The paper of the United States, Mr.. Sherman
said, was the best ever had and the best ever
deaired by man. The national bank note
" as tHc bCSt loEui VI paper, UtCausC ltS pay
ment was absolutely secured. The coin re-
reserves in the treasury disappear at tine first
sign of panic. Mortgages on real estate,
state bonds and commercial paper are all
found inadequate security, and this fact had
come to be recognized by the chief CONNER
cial nations.
Mr.. Sherman was followed by Mr.. Nc
Pherson, who, after reviewing the various
propositions, other than his, before the Sem
ate relating to the subject matter in hand,
insisted that they were ali wrong in princi-
pie, for the reason that we should never issue
currency to the extent of one dollar beyond
what the government had agreed to pay for
the bond. He favored continuance of the
present national banking system till some
suitable substitute equal to all mutations of
business confidence and credit shall be found
to take its place.
Messrs. Aldrich and Beck expressed de-
sire to see the various amendments in print
before the discussion should proceed farther,
so the subject went over and tie Senate
adjourned.
HOUSE.
Mr.. Mcpherson stated he had information
from respectable persons to the effect that
$500, 200 would be amply sufficient to cover
all expenses of the Greely relief expedition
and this was as good time as any to have the
question involved brought to decision.
Mr.. Hale said the matter had been dis.
posed of and well disposed of by the Senate
and he hoped this joint resolution would al
once be indefinitely postponed.
The joint resolution was indefinitely post
poned by a vote of 81 yeas to 26 nays.
Mr.. Werner of Ohio, rising to a question
of privilege, said that he understood that the
lntu rasnlution pas Spd tho Honsp and Son q