884 



INDEX OF CONTEXTS. 



short and long bonds, 155, 156 ; one half per cent not to 

 bo thrown away, 157 ; lowest possible rate of interest to 

 be fixed, 157; more than half the war debt paid, 157; 

 heavy drafts upon the people, 157 ; in fevor of a 10-40 

 bond at 3 per cent interest, 15S; bonds at 8| per cent a 

 bonus to the banks, 15s ; shortest time and lowest rate 

 best, 158 ; amendment proposed to protect the greenback 

 currency, 159; disastrous effects of forcing resumption 

 of specie payments between 1S78 and 1878, 159 ; silver 

 dollar coinage restored, 159 ; no real resumption of specie 

 payments, 159; President's recommendation that the 

 entire volume of the legal-tender notes (greenbacks) be 

 retired, a monstrous proposition in the interest of the 

 National Bank Association, 159, 160 ; sovereignty in the 

 people and government supreme because established by 

 the people, 160; legal-tender notes pronounced by Su- 

 preme Court to be established by constitutional laws, 

 160, 161 ; Senator Bayard's speech quoted, 161 ; extract 

 from Chief-Justice Marshall on question of powers of the 

 Government, 161 ; in 1862-'63 the Government in self- 

 defense issued legal-tender notes, 161 ; Congress alone 

 can declare what is money, 161, 162; extract from Su- 

 preme Court's opinions as to the Government's power 

 over the currency, 162; Congress not restricted, as the 

 States are, by the Constitution, 162 ; Government's 

 power over the coinage, 163; Supreme Court on the 

 obligation of contracts, 163; " war powers" of Congress 

 under the Constitution, 163 ; power of Congress in time 

 of peace, 164 ; claim that legal-tender currency is inju- 

 rious to the country, 164 ; absurdity of this view, 164 ; 

 the financial question not at rest, 164, 165; strong Gov- 

 ernment called for, only strong government is that of the 

 people, 165; the bill ordered to a third reading and 

 passed, 165. 



In the House, the refunding bill considered, 165; text 

 of the bill, with the Senate amendments, 165, 166 ; amend- 

 ment proposed, 166 ; question as to its effect on national 

 banks liquidating and redeeming their TT. S. bonds, 166; 

 two opposite views, 166, 167 ; action should be clear and 

 beyond doubt as to its meaning, 167 ; bugbear of the cry 

 as to the national banks, 167 ; service these banks have 

 rendered to the country, 167 ; explanation of the fifth sec- 

 tion of the bill, 167, 163; contains four provisions, relative 

 to funding 5 and 6 per cent bonds at minimum rate of 

 interest, the national banks being required to assist in ac- 

 complishing this result, 167; after July 1st, the 3 per cent 

 bonds, and no others, receivable as security for circulat- 

 ing notes of national banks, 167; false construction and 

 trouble caused thereby, 163 : power of national banks in 

 defeating legislation, 168 ; eighth section of Sherman's bill 

 of 1870 quoted, 168 ; more severe on the banks than any- 

 thing in this bill, 163; claim of absolute power of Con- 

 gress to legislate concerning bonds and securities, 168; 

 national banks resisted and defeated proposed action, 169 ; 

 quotation from Mr. Sherman's speech on this point, 169; 

 naked question is, whether Congress or the banks shall 

 finally determine the financial policy of the country, 169 ; 

 corporations must be public agencies and not mere pri- 

 vate associations, 169, 170 ; Chief- Justice Marshall's views 

 quoted, 170 ; a question of policy, not of power, as to how 

 fer the Government ought to go in supervision and con- 

 trol of national banks, 170; sudden contraction of curren- 

 cy hurtful, 170; object of fifth section of this bill to ren- 

 der ^it impossible in the future, 170; Government has the 

 ripht to redeem and destroy 5 and 6 per cent bonds with- 

 out issuing others, but it would be bad faith to do so, 170, 

 171 ; no injustice done to the banks by provisions of fifth 

 section of the bill, 171 ; vast earnings of the national banks 

 during ten years, 171 ; Senate amendment not concurred 

 in, with Mr. Conger's amendment, 171 ; Senate amend- 



ments concurred in, and bill passed both Houses, 171 ; 

 message from the President of the United States, return- 

 ing the bill with his objections, 172 ; message ordered to 

 be printed and laid upon the table, 172 ; no further action 

 taken on the bill, 172. 



In the House, the bill to establish a board of commis- 

 sioners of interstate commerce taken up, 172, 173 ; extent 

 of authority the first question, 173; Congress has power 

 over commerce between States, but none over railroads as 

 railroads, 173; Mr. Reagan's substitute for the original 

 bill, 173; few simple rules, no hostility to railroads, 173; 

 one man should not be charged more than another; no 

 rebates or drawbacks should be allowed ; no pooling of 

 freights, 173 ; no more to be charged for shorter than for 

 longer distance on the same road, 173 ; illustrations of the 

 necessity of limiting powers of railroads to make discrim- 

 inations for or against certain localities, 174; railroads to 

 print and post up schedule rates of freight, 174; reme- 

 dies for existing evils, a civil action in behalf of parties 

 aggrieved, a civil suit by a public officer, and a criminal 

 remedy by indictment, 174; difficulties in the way, 174, 

 175; question as to the power of the States to furnish 

 remedies, 175 ; query as to what is or is not internal com- 

 merce, 176 ; origin and destination fix the feet as to wheth- 

 er commerce is interstate or State commerce, 175 ; ex- 

 press provision in the bill as to this point, 176; no rates 

 fixed by the bill, 176 ; appeal to common sense and jus- 

 tice, 176; subsequently, the House refused further to con- 

 sider the bill, 176. 



In the Senate, the resolution relative to the counting 

 of the electoral votes for President and Vice- President of 

 the United States taken up for consideration, 176 ; amend- 

 ment reported by select committee on the state of the 

 law as to this matter, 176; amendment making two tell- 

 ers instead of one, 177: need of action to settle some 

 points at once, 177; State of Georgia's vote not cast on 

 the same day as the other States cast theirs, 177 ; grave 

 question, 177; difficulties on previous occasions should 

 now be provided against, 177, 178 ; proposition to substi- 

 tute " Senate-chamber" for "Hall of the House of Rep- 

 resentatives," as the place for counting the electoral votes, 

 178; more safe and dignified, 178, 179; amendment re- 

 jected, 179 ; question as to whether the President of the 

 Senate has the right to count the votes, 179, ISO ; denial 

 of this right, 180 ; amendment offered, 180; difficulty of 

 getting a law framed to settle this point, 180 ; partisan 

 advantage in the way, 181 ; parties in Congress governed 

 by what affects the interests of their respective candidates, 

 181, 182 ; both Republicans and Democrats ought to join 

 in fixing upon a thorough, constitutional remedy, 182; 

 amendment rejected, 182 ; amendment of the committee 

 and the resolutions as amended agreed to, 182. 



In the House, counting the electoral votes, 182; the 

 Senate present, the Vice-President (Wheeler) presiding 

 officer, 182; Senators Hamlin and Thunnan Senate tell- 

 ers, Messrs. House and Crowley the House tellers, 183 ; 

 opening and reading of the certificates of election, be- 

 ginning with Alabama, 183; vote of Georgia, the Vice- 

 President's statement respecting, 183 ; tabular statement 

 of the electoral vote throughout the Union, 183 ; tellers 

 announce that James A. Garfield and Chester A. Arthur 

 have received a majority of the votes of the whole num- 

 ber of the electors appointed, 184; Garfield and Arthur 

 declared by the Vice-President to be elected, 184 ; joint 

 convention ended, and the Senate returned to their cham- 

 ber, 184. 



In the House, the bill for the apportionment of Repre- 

 sentatives reported, 184; statements as to the basis on 

 which the bill was prepared, 184; States which have 

 large fractions, 184; by the present bill, Alabama, Florida, 



