Mr. KELLEY. Then I must decline to yield, as my time is limited by the rule. Mr. Chairman, I voted in the earlier days of this session for the resolution of the Gentfrom Massachusetts, [Mr. ALLEY] and I de sire to say that I voted for it because Iwas then under the delusion that he is still under, that contraction of the currency was the way to resumptionof specie payment. But we are to day on the big road to resumption, and will, if matters are let alone, soon resume. Gentlemen tell us that the currency is redundant; and the Gentfrom Ohio [Mr. GARFIELD] told us the other day that the balance of trade was in our favor and the exportation of gold diminishing. so that the volume of currency was expanding and becomin more redundant; yet we all know, that with his expansion of the currency, prices are daily depre ciating; the price of commodities. the price of labor, the price of gold, is steadil epreci sting, showmg that we have not an eient currency to prevent the too rapid depreciation of prices. Our currency is not expanded, and we are on the successful road to an early resumption of specie paments without a crisis. I would let we l enoug alone. But it is proposed to alarm the business men of the country and to paralyze the business of the country, by announcing that the present SecyTreasury, and whoever may be his successor, shall hold the business of the country in his band, control the currency hy his will, and put all real. enterprises at his mercy. I have confience in the integrity of the present SecyTreasury; but I do not know who may be his successor in the event of his death or resignation. But had I the snpremest confidence in him that man can have in man, I would not vote to invest him with the power to expand or contract the currency and so influence the business of the country, to quicken or retard it when and as he pleases. I will, if it does not come A ain, this bill proposes to empower him to do the absurd thing of taking up the non-interest bearing debt of the Government by bor owing money at 6%. for that purpose. t will close your factories, stop our forges and your furnaces, and paralyze the business of the country, to contract your currency by borrowing money at 6%. to retire it, or in other words to pain debt that is carrying no interest, but which on the contrary is payinginterest to the Government; forevery dollar note destroyed orlost is a dollar of gain to the country. But it is not only proposed to bor row money at 6%. to redeem a noninterest hearing loan. but there is no limitation upon the price at which the SecyTreasury may sell the bonds of the Government for that purpose. He may, if he sees fit. sell them below par, and thus bring down the value of all Government securities. Gentlemen say the Secretary will not do LhlB; but a less worthy successor may do it. whatever may be the integrity and ability of the present incum bent Sir, this bill is full of peril to the country. Its tendency will be to retard the resumption of specie payment by producin uncertainty and alarm. It may bring our laTioring people to idleness, reduce the value of farm products, and close our mines and factories. In that event many of ourlaboring people who are now liberal consumers of foreign and domestic goods, will be turned into paupers, and all of them be made close economists, as people always become when they cannot see a prospect of daily labor and wages before them.