The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-01-20

WARRINGTON, Jan. ls, lsa7.
The Wsy things Working.
The proceedings in the two houses to-day, though
resulting in nothing done, not wholly unimportant
Mr. Johnson. of Maryland proposes to ask Mr.. Walker
If were not better to suspend repeal the sub reasu
ry act; and il such inquiry goes up to him IL is very
probable he will urge at least the abolition of the specie
restriction aud the disbursement of drafts every whore
as long as they at par value, which s of up
Proclamation to National Bank far relates to the
mere issues and circulation OF paper but which.
nevertheless, would at this juncture Mr.. Walker bo
ieves, be great convenience to the government and
to all concerned
Either Colonel Benton the Secretary of the Treasu
ry, must yield the wall. The Administration has Ger.
tsinly been getting round Old Bullion but fear
very much fear, that when they this direct is
sue between the paper issues and the hard dollars that
all the patng the back and all the king and per
suadng of the great advocate Of specie will
be completely useless Yot we hope he may be Undue
cd Tor season to compromise his rigid opinions the
seasonable accommodation of tho Treasury
1t was amusing at the last session to all the whies
join In with the distinguished Mssouran on the specie
claws" in opposition TO MIR. Secretary Walker The
wings did it because they knew 1t the main chance
of rendering the sub scheme totally npraotcabs; but
OLD Bullion did because he has kink in his head that
there no necessity for paper transactions on the part of
the government and from deadly hostility to all sorta
of paper operations He goes for the hard and IN. AZ
pense OF transporting $500 900 in silver from Washing.
is far more sensible expedsnt in his est;m alton 49,
the transfer of draft though the former operation NAV
cost five or ten thousand dollars and the latter nothing Il
all But we shall soon know what ia TO DO done.
The contest last week. between Mr. Cameron and Mr.
Benonthe former conending that the quarter section
of land to the soldier should be In the regiment Bill
and TIC Later that it should be by ITSELF for fear of en-
dangerng the bill for raising troops the other house
ended in the triumph Of the ylvanian who ascent
ed to tho recommment Of the BILL with instructions to
put in the land bounty because that all be wanted
But Col Benton holds the bill back-asd why7 Becausc
there separate bill for the land boun,es before the
House and may pass and come to the Senate when he
w 81 tho S ss The he, but
land nil from the House in its separate form,
and thus securing the bounties to the soldier at
But solsmnly believe the design Of Col Ben.
be defeat the land beunes and on this ground
that the act will reduce the receipts from the public
contribute to tho necessity OF expunging his darling
specie feature from the sub.treasury law. 1t Is eight
years. and tho heavier the demand upon the Treasury.
the greater the chances Of Walkers winning the day
the o@ q MT .Sv any act
While upon this subject Of the finances we think the
following amendment proposed today 70 the loan and
will commend itself to the attention oil the Secretary Of
the Treasury very decided saving clause. and a.
capital idea Any acquainted with the laws Of
rcpcv and trade will comprehend its operation at
glance MIR b. proposes to add the following to the loan
and treasury note bill, as section 10 -
Sec 49, And be it further enacted, That to enhance
the value Of said notes stock. and promote payment
without taxation, the Secretary Of the Treasury may
when deems expedient certify the notes stock
by this act authorised, that In all payments for public
lands they will be received at such enhanced value be-
yond the principal and interest thereof he may spu
late In each case to exceed three per cenum per
annum upon the principal of said notes stock for each
whole year from the date thereof and they shall in such
be so received only in payment for public lands
but for all other payments and purposes be valid only
for the principal and interest thereof But such
enhanced value shall not BIO stipulated or take
effect for fractions Of year, or upon the inter
est Of said stock notes and such paper
when received by receiving officer shall be void and
cancelled forthwith; but notes or stocks within
the prescribed limits Of time and amounts with or WITH
out stock stipulation may BIO issued In lieu Of those re-
deemed. -.
Without commentary, we submit that idea to Cen
Mkay's especial consideration ~,
Samuel Lover in spite Of the bad night, had O Jul
and fashionable house at the Odd Fellows Hall tonight
at dollar a head. 1t is useless to say that he pleased
every body but we do think he ought to give night,
lust Tor the democracy Of the thing, at 80 cents
| Meantime Charles Burke, at tho Odeon olympic, 10
figuring successfully In The Lady OF the Lions But
Bon nut, says ihE DvSA oN