Mr. RICE. My friend knows they are made p. able in other notes. should like to have time to answer all the questions which may be put to me. I have only a few minutes, and I have some figures I wish to at upon record. only need to refer to the price current of NewYork to prove that the 6%. old bearing bonds are only 1%. a ove reenbacks.” It would certainly, then, be very bad policy to fund these notes, and thus make ourselves liable to pay $27,000,000 perannum for what we are now getting, and can continue to get, honestly for nothing. In this connection, Mr. Speaker, I wish to call the attention of the House to a fact, well known to all bankers, which is, that we may safely calculate that at least 5%. of this $450,000,000 will never come back for redemption, on account of being worn out, lost, and destroyed in various ways, thereby saving to the Government $22, 500,000 in addition to $27,000,000 annum. The 6%. bonds of 1881, and the 5 twenties and ten forties need no change. The 7thirties are fundable by the terms of their issue, or if not, power should be given for that purpose, leaving only the compound interest notes to be provided for by law, which I think the SecyTreasury should have power to do. My judgment in this matter, sir, is that we ought to allow as little legislative tinkering with the law regulating our financial matters as possible, studying the most rigid economy in all our expenses and applying the excess ofreeeipts over expenditures each year to paying OE and canceling an amount of indebtedness equal to such excess. By this means we shall at once be enabled to enter upon a reduction of taxes and a reduction of indebtedness, bringing the nation every month and every day, by safe and easy approaches, nearer to a permanent resumption of specie payments. Mr. Speaker. the ideas which I have at tempted to embody in these few remarks are so ain as to require no elaboration. The great lesson, sir, which we as a nation need to learn, is more dependence upon our selves and less upon other nations. Self reliance is the great secret of success, in nations as well as individuals. wheriwe shall have learned to appropriate the proceeds of our own labor, we shall be richer and more independent than ever before. When we shall have rougbt the spindle and the loom closer to the consumer of manufactured articles, we shall have done much for the toiling millions. Whenwe shall have freed ourselves from the absurd idea and practice of sending our cotton 3000 miles to find a spindle and a loom, with a hope that we me be able to send a barrel of flour after it to fee the spinner and the weaver, and in the operation taxing the labor which reduced bot the cotton and the wheat to ay reights and charges; I say, sir, when we s iall have abandonedt eseabsurd ractiees we will have lifted a burden from the shoulders of hardhanded labor which cannot be done in any other way. A speedy return to specie payments is what every true friend of the Government must work for; but the idea of immediate resumption is Utopian in the extreme. No sane man standing 11 on the top of Bunker Hill “monument would think of dese ending by a leap to the ground, but would choose the more rational and prudent course of coming down step by step. In the opinion of some men all of our financial ills are to be cured by immediate resumption of specie payments, and all our political evils by an immediate admission of the States recently in rebellion. No man, Mr. Speaker, desires more earnestly and sincerely than I do the accomplishment of these objects. But my judgment compels me to believe that it is the part of wisdom to “make haste slowly” in 0th cases. Let the work rather be slow and permanent than hasty and insecure. Let both be laid upon foundations so broad and so deep that no financial or political earth quake can ever move them. Now, sir, I will reply to the arment made yesterday by the Gentfrom Illinois, [Mr. wENTWORTH] am only sorry he is not here. If there are any gentlemen here who hold the same view I will say it for their benefit. He compare the “ greenbacks" of this count to the assi nats of France. I wanted to as then, and will do so now, whether there is any parallel between the 2 kinds of currency; whether he does not know, as well as he knows of his own existence, that the French assiguats had no foundation for their redemption compared with ours? When a man who claims to be an American citizen, in the Halls of Congress or anywhere else, undertakes to compare the currency of this country, which is as good as was ever is sued by any bank of the U.S., with the rotten system of assignats in France, I assert that he is lacking in one of 2 things, namely, either a want of proper information on the subject or a want of a isposition to do justice to the currency of the country and these, sir are as mild terms as I can possibly use in reerence to it.