Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1886-08-06
THE BUZZARD' DOLLARS.
ACTION BY THE SENATE TOR THEIR
REDEMPTION.
German Eulogizes Manning's Financial
Policy-Irade Dollars 10 he Redeemed
When the Treasury surplus Exceeds
100000, OOO-A Naval Increase.

WAsHINGTON, July 30.-Mr. German
had hoped that when his party came into
power in the government they would have
substantial accord. He explained and
eulogizcd Secretary Manning's act in ar
ranging with New York banks in July,
1855, to get 100000 silver dollars. The
necessity was that the treasury reserve of
800, 100000 was at that time $40, 900 600
short in gold, and that by the demand for
the payment of greenbacks, the govern
ment might have been forced upon Il silver
basis.
Mr.. Edmunds moved to amend the
amendment to the surplus resolution, by
substituting the president for the secre-
tary of the treasury, so that it will read :
When in the opinion of the president
the public interest shall require it, he
may direct the secretary of the treasury to
suspend further call" etc. Agreed to.
Mr.. Sewell moved the receipt OF trade
dollars at their faces Agreed to. The
Joint resolution as passed is as follows :
That whenever the balance in the treas
ury including the amount held for the re
demption of United States notes shall eX-
coed 81 100000 it shall be- and is hereby
made, the duty of the secretary of the
treasury to apply such an excess, in sums
not less than $4,000, 600 per month, dur
ing the existence of any such surplus
or excess to the payment of the inter
est bearing Indebtedness of the United
States, payable at the governments CD
ton. The balance herein referred to
shall be an available surplus, ascertained
according To the form of the statement of
the United states treasurer of the assets
and liabilities of the treasury of the
United States, employed June 80, 1856
provided no call shall be made under
lSln If nlt1ti ion,
until sum equal to the call is III the
treasury over and above the reserve here
in mentioned ; and provided, furthur,
that the secretary of the treasury in his
discretion may have in the treasury over
and above the foregoing sums, a working
balance not exceeding $40 600 600 and when
ever in case of any extraordinary emer-
gency not now existing, and when be-
course thereof III the opinion of the
president, public interests shall re-
quire 1t, he may by written order di-
rect the secretary of the treasury
to suspend further calls for the payment
OF such Indebtedness for such period of
time as Shall be necessary to maintain the
public debt un1mpaired, and that such
suspension and reasons therefor, shall be
reported to Congress within 10 days after
its next meeting.
That for six months after the passage
thereof, United States trade dollars if not
defaced, nutilated, or stamped, shall be
received at their face value, in payment of
all dues to the United States, and shall
not be again paid out, or in any other
er manner issued. That the holder of
any United States trade dollars during
the period aforesaid, on presentation of
the same at the office of the treasurer, or
any assistant treasurer, of the United
States, may receive in exchange like
amount, value for value, and dollar for
dollar, i'll standard silver dollars, or in
subsidiary colns.n
The House bill to increase the naval e s.
tablishment was taken up, and passed.