Mr. PRICE..That is asking a great deal of one man., I will, to the extent of my ability, continue it in the same strain, but I cannot promise to do it with the same ability. I desire to occupy the attention of the House for a moment, because there may be other members than those who have spoken who are under a wrong impression in regard to the law passed at the last session. When I interrupted ithe.Gentfrom Ohio, who very kindly me the floor, I did so because I thought e was under a misapprehension as to the power conferred on the SecyTreasury by the law of last session. I know that, unless he had misapprehended that law, I had; and that was my reason for asking him the question which I put to him. I have since obtained a copy of the law, and I wish to read a few lines to refresh the memory of members on this subject. The act of April 12, 1866, entitled “An act to amend an act entitled ‘An act to provide Ways&Means to support the Government, ’” approved March 5, 1865, provides That to tshuepapeotrotntlhitelod Government ot, provide vewday March 3, 1865, shall be extended and construed to authorize the SecyTreasury, at his discretion, to receive any Treasury notesor other obligations issued under any act of Congress, whether bearing interest or not, in exchange for o description of, bonds authorized by the act to which this is an amendment; iaznedd ablysostaoiddiascpto, seeiothfearniyndtehseer U.S. soarutehlsoer where, to such an amount, in such manner, and at such ratesas hemaythink advisable, for lawful money of the U.S., or for any Treasury notes, cer tificates of indebtedness, or certificates of deposit, or other representatives of value, which have been or which may be issued under any act of Congress; the proceeds thereof to beusedonly for retiring Treasury nCootnegsreosrs;other obligations issued under any act of but nothing herein contained” This is the point to which I wish to call attention “shall be construed to authorize any increase of the public debt.” w. The interest of the public debt, Mr. Speaker, is as much a part of the public debt, and for which the . of this Government are as much bound as the principal. The act then goes on to say: “Provided. That of U.S. notes not more than $10,000,00moay be retired and canceled within 6 nonths from the passage of this act, and there after not more than $4,000,000 in anyone month.” That is why I introduced the resolution the other day. I want to know whether they have been canceled; I want to know whether the law has been complied with: I want to know whether the money has been retired according to law, and what evidence we have of that fact. That is the reason why I introduced my resolution; and one of these days, if I live long enough, I hope to get that resolution up again, and gentlemen here perhaps will then see that such a law has been passed. That is all I have to say in reference to the law. Now, it will be seen by the law that it contemplates this and nothing more, if I comprehend it correctly. It gives the SecyTreasury power to convert the 7 thir ties, that is, he may issue 5 twenties for 7 thirties, because 6% is not more than 7 30. That law gives the SecyTreasury power to retire the compound interest notes and to issue bonds bearing a like amount of interest to give us more time. In my opinion it authorizes him to do that and nothing more, and it was with that view I thought the bill was brought in, although I did not approve of it at the time of its passage, because it was held by some members upon this floor, as I find it held by some still, that the Secretary had power to do other things. And in confirmation of that I ask the Clerk to read half a dozen lines of what I said on that occasion. The Gentfrom Ohio will find it entirely in consonance with what he has said on this subject.