d credit of the government
were pledged to redeem the notes of the United States, as fully
and completely as our Revolutionary fathers pledged to each other
their lives, their fortunes, and their sacred honor, in support of
the declaration of American independence.

After every sentence and word of this bill had been carefully
scrutinized, I was authorized by every member of the committee to
submit it to the committee on finance, and to report it from that
committee as the unanimous act of the Republican Senators. We
naturally expected some support from Mr. Bayard and other Democratic
Senators, who, no doubt, were in favor of specie payments, but they
perhaps thought it best not to share the risk of the measure.

I reported the bill from the committee on finance on the 21st of
December, 1874, and gave notice that on the next day I would call
it up with a view to immediate action. On the 22nd, after the
morning business, I moved to proceed to the consideration of the
bill, and gave notice that I intended to press it to its passage,
from that hour forward, at the earliest moment practicable. It
was well understood that the bill was the result of a Republican
conference. It was taken up by the decisive vote of 39 yeas to 18
nays.

It was not my purpose to do more than to present the provisions of
the bill. My brief statement led to a desultory debate, participated
in almost exclusively by Democratic Senators, the Republican Senators
remaining silent. Several votes were taken, each showing a majority
of more than two-thirds in favor of the bill and against all
amendments. It passed the Senate without change by the vote of 32
yeas to 14 nays.

I here insert the bill as introduced and passed, with my statement
in support of its provisions:

"AN ACT TO PROVIDE FOR THE RESUMPTION OF SPECIE PAYMENTS.
"_Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled_, That the Secretary
of the Treasury is hereby authorized and required, as rapidly as
practicable, to cause to be coined, at the mints of the United
States, silver coins of the denominations of ten, twenty-five, and
fifty cents, of standard value, and to issue them in redemption of
an equal number and amount of fractional currency of similar
denominations, or, at his discretion, he may issue such silver
coins through the mints, the sub-treasuries, public depositaries,
and post offices of the United States