"  The  Secretary  of  the  Treasury  may  sell  bonds  at  any  rate  to  meet  debts
as  they  accrue,  but  that  is  not  the  purpose  of  this  bill."

MR.  FESSEXDEN  :  "  That  is  all  the  purpose  there  is  in  it."

I  said :

"  Then  there  is  no  necessity  for  it."

MK.  FESSEXDEX:  "  Yes,  there  is.     I  differ  from  you."

I  continued :

"  We  have  here  the  tables  before  us.  The  honorable  Senator  and  I
know  when  this  debt  matures.  .  ..
"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  seven-thirties  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.
