Mr. SHERMAN. That is the power now given, and he will use the power. He may think it to his interest to retire the whole of the 7thirties or the ten forties; but is it wise for us to give him that power now, at the heel of the war and before things have settled down? I do not think it is. I repeat, I do not wish to call in question the integrity of the SecyTreasury. The Senator interjects by saying we must look ahead. There is just the difference between him and me. I say the future for this country is hopeful, buoyant, joyous. We shall nothave to beg of foreign nations, or even of our own people, money within 2 or 3 years. Our national debt will be eagerly sought for, I have no doubt. I take a hopeful view of the future. I do not wish now to cripple the industry of the country by adopting the policy of the SecyTreasury, as he calls it, by reducing the currency, by cripplin the operations of the Government, when Itink, that under any probability of affairs in the future, all this debt will take care of itself. I believe that if the SecyTreasury would do nothing in the world except simply sit in his chair, meet the accruing intiiebtedness, and issue his Treasury warrants, this debt will take care of itself, and will fund itself at 4 or 5%. before very long. All that I object to in this bill is the power it gives the SecyTreasury over the currency to affect the currency of the country now, and to anticipate debts that are not yet due. In my judgment, the amount of legal tenders now outstanding is not too much for the present condition of the country. I expect to come back to specie payments, and I exct to see gold approach the level and stanard of our papermoney, without any material reduction of our currency. Our currency now is less than the currency of England or France, according to the statistical tables we haVe. Our whole currency now is $704,000,000, excluding the interest bearin legal tenders, which do not enter at all intot e currency, and which cannot be found. Including bank circulation of every kind, and excluding interest bearing legal tenders our currency is $704,000,000. 450 millions of it. consist of U.S. notes and fractional currency. Then, there are over $250,000,000 ofbank currency, including the notes of outstanding State banks which are being rapidly retired. The limit of the national bank currency is $300,000,000; so that the whole currency cannot exceed $750,000,000.