Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1886-01-15

SENATE.
Senator Hswley again presided over
the Senate to-day, In the absence Of the
President pro tempGre.
Senator Plat presented petition
from the commercial travellers praying
sor legislation to relieve them Of bur-
densome taxation.
Mr.. Edmunds said complaints had
been made to him that the merchants,
artisans, and laboring men Of Washing
ton were very injuriously affected by the
bringing here of the surplus stocks Of
other cities, and, ct amere nominal ex-
pense for rent, sold here.
The petition was referred TO the
Committee on Commerce, whose chair
man, Mr.. Mcmillan, said the committee
would be glad TO hear parties having
any views to present on either side OF
the subject.
The Chair laid before the Senate Mr..
Morrill's resolution, offered yesterday,
calling on the Secretary of the Trea-
sury to inform the Senate whether any
collectors of the internal revenue not
confirmed by the Senate were in re-
ceipt Of the pay and emoluments Of
office.
Mr.. Beck said he would not object to
the resolution, but saw no necessity for
it. The Senate knew all that was to
be know b on the subject. The law on the
subject passed during President john
sons 1me had been very sweeping, but
during President Grants time it had
BEEN hodi6ed. Since then newly-ap-
pojzted officers Of the class designated
~ Mr.. Morrill, had received the emolu-
ments of Office if the Supreme Court
had decided that they were entitled to
them. When the Republicans had become
afraid that the Democrats were going
TO win they again modified the law, but
the modification did not make improper
payments in cases contemplated, and the
Republicans knew such officers had for
years received pay.
MIR. Morrill, differed with Mr.. Beck
as to the precise class of cases covered
by the Supreme-Court decision. He
denied that the President could take
money out Of the Treasury to pay men
whom he might appoint. That was
the duty of Congress. The informa-
ton called for Mr.. Morrill, thought
manifestly proper, not only in the in
terest Of the Government, but Of col
lectors personally.
Mr. Cockrell offered an amendment
TO Mr. Morrill's resolution, making it to
apply to back years. This was accept
able to Mr.. Morrill,, and the resolution
as amended was agreed to.
MIR. Beck said there had come to
him, he did not know why, several pc
titions to be presented to the Senate
urging Congress to suspend silver coin
age. lie had declined to present such
petitions, and had returned them to the
persons sending them to him. He had
pursued that course because he believes
the sending Of such petitions had been
influenced by circular letter marked
confidential, sent out by commit
tee of the New York Board Of Trade
and Transportation. Mr.. Beck read
copy Of the letter. 1t asks its recipient
to write a personal letter to Speaker
Carlisle, urging him to refrain from
placing extreme silver-men on the Coin
age Committee of the House Of Repre-
sentatives and also to write personal
letters to Senators and Representatives,
urging the suspension Of coinage.
Mr.. Brown called up Mr.. Beck's sill
yer resolution and addressed the Senate
on it. 1t would be unwise, Mr.. Brown
said, and unjust to the people to sus-
pend the coinage Of silver at present.
So far as the bondholders were con-
cerned, the medium in which they were
to he paid had not been left in doubt,
but had been nominated in the bond.
They were to be paid in lawful money
Of the United States. At the time Of
the contract greenbacks were lawful
money of the United States and
almost the only currency. Bondholders,
however, many Of whom had paid in
silver only forty or fifty cents on the
dollar for their bonds, soon went sys-
tematically to work to increase the value
Of their demands against the Govern
ment. They used the columns of in
fuential newspapers and the brains of
influential men, and secured the pas
sage of the act Of 1869, changing the
contract and making the bonds payable
in coin without giving for that change
any new consideration. "Coin meant
gold or silver, but, not yet sat
isfed, they soon had the pleasure
of seeing the refunding act Of
1870 passed, which prescribed that
new bonds should be paid in coin Of
their standard value-the same stand
ard as that of to-day. 1t would be
naturally supposed, Mr.. Brown con-
tinued, that this system of changing
the contract from time to time, making
it each time more valuable to the credi-
tor. had been carried far enough, and
that the people would not be asked to
do more than to pay in gold or silver
coin an original greenback debt worth
forty cents on the dollar, and consent
even then. The next step was to de-
monetize silver, for if silver could be
permanently demonetized, there would
be effected reduction Of the quantity
Of coin, with which, under contract, the
debts were to be paid, and the value Of
gold coin, the only coin left, would be
greatly increased. After the demone-
thing act had been passed, however,
the people felt that they had been
wronged, and sent representatives to
Congress to repeal it and to provide for
reasonable amount Of annual silver
coinage. Since that time the creditor
class had failed to influence Congress,
but had been fortunate enough to con-
tinue to receive payment in gold alone;
those men had been receiving gold
alone, while all other creditors
Of the United States had to
take silver or greenbacks. The result
was that the bonds had steadily ad.
vanced until they were now worth 100
to l24, but the cry still was that the
bondholders should be dealt literally
with, and that taxes must be increased
in order to pay them better currency
than Other pe0nle On rs m o. keer, nm the