New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-03-04

dent from taking steps to enforce the laws The
Democrats did not insist upon the amendment,
owing to the fact that President Hayes had
withdrawn the Federal troops from the South
DEMOCRATIC FINANCIAL HEREsIEs.
This principal bill out Of the way. the Senate
did little other business except to discuss South
ern elections. while the House received a multi
tude of bills from its various members and re-
ferred them. passing some minor measures
1t discussed two bills of Importance. which it
passed. One A repeal Of the resumption
clauses of the act of January IA. 1915. for a re-
turn to specie payments. After long debate
this measure-introduced by Mr.. Ewing Oem.
Ohio. and supported by violent defamation
by various Democratic members, who insisted
that return to specie payments would wrong
the debtors If the country-was passed BY the
House November %, 1877. by 1873 yeas C2S Re
publicans, mostly from the West and South;
105 Democrats to 40 nays coz Republicans,
. Democrats, chiefly from the EasD. In the
Senate the bill was simply referred to the
Finance Committee.
The other measure was the famous bill intro
duced by Mr. Bland Dem. MOI. for the un-
limited free coinage of the silver dollar OF 412h
grains of Standard silver. and making 1t legal
tender for all debts public and private. There
was no debate upon this bill. Without any con-
sideration whatever it was taken up on No
vember 3, 1877, and passed. under motion
To suspend the rules by 1913 yeas to "a nays.
large number of Republicans abstainng from
voting 1t was sent TO the Senate and there
referred to the Finance Committee. 1t was the
subject of exhaustive debate at the following
session.
AN AGGRESSIVE SESSION
The XLvth Congress met for its second SEES
sion December 3. 1877. adjourning June 20
1873
neutrality-suspicious.. 50: Democrats. Sc; In
dependent, l. Total. &c.
House-samuel J. Randall Dem. Penn)
Speaker Republicans. $40: Democrats, lo3
Total. 293
TOPICS IN THE MESSAGE
The Presidents Message announced the with
drawaI of Federal troops from the South and
the restoration Of order there and then referring
to the public finances. said that specie pay
rnents should be comprised as speedily as
possible: a stable currency was not of so
great Importance TO the rich, but 1t was abso-
lutely necessary for the poor. The President
said that II the United States were free from
debt Congress would be free to egislate in its
any restraint except the public welfare But
the obligations Of the public faith transcended
all questions Of profit and advantage. To re-
ouire a public creditor 10 take dollars of lower
commercial value than gold would be repudia-
ton 1t would be far better to pay in gold
than take advantage of an unforeseen fall IN
silver to pay in a issue Of deprecated sill
yer coin The ratio between the two metals
should be adjusted The President favored the
use of silver as money. but on the basis Of
commercial value and limited legal tender. and
asked that at any rate, the public debt be ex-
empted from payment in coinage OF less value
than gold.
FINANCE TO THE FORE.
This was notable session Of Congress
Finance and the tariff received much attention.
and some important laws were passed.
' The first financial legislation was the act or
February Is 1878 ravving the silver dollar OF
412l. grains of standard silver. and making 1t a
legal tender for all debts, public and private un-
less otherwise stipulated in the contract provid-
ing for the purchase Of bullion by the Treas
urv and the coinage OF from S2OO0WU to
81 600 600 a month Uhe Treasury not 10 Keep
NOR. than s. 900 900 hand al any one time).
and ur,,iding also for the issue Of silver eerth-
cafe. AGAINST the deposit of silver coin. and for
an Invitation to the Latin Union nations Tor
Conference ON the subject Of silver coinage.
In the passage Of this famous measure. the
Republican party in Congress failed. for the
first time in it's history. to act substantially a
a unit in defence Of the honor and faith OF the
United States.