Chapter 28

BILL FOR THE RESUMPTION OF SPECIE PAYMENTS. Decline in Value of Paper Money--Meeting of Congress in December, 1874--Senate Committee of Eleven to Formulate a Bill to Advance United States Notes to Par in Coin--Widely Differing Views of the Members--Redemption of Fractional Currency Readily Agreed to--Other Sections Finally Adopted--Means to Prepare for and Maintain Resumption --Report of the Bill by the Committee on Finance--Its Passage by the Senate by a Vote of 32 to 14--Full Text of the Measure and an Explanation of What It Was Expected to Accomplish--Approval by the House and the President.