, 1866-03-21

Loan Bill and the controversy between coanp,
troAer Clarke and Treasurer Spinner hass
been the subjects under considerations. Vsg 91
dozen speeches have been made on tne pllt,
and the financial condition Of the dogasn-
ment has been very Clearly set forth. >, some .ne
speech of Mr. Wentworth yesterday
! Nj: stevens to-day, hare been
I exceedingly spicy, and the radical Mr..
Stevens has at LAST found his Eedual in sarcas-
lie inuendo and bitter lnyeetive, In the person
OF the muscular radical from Illinois Ihe
scene this afternoon was unus0slly dramatic,
Mr.. STEVENS was dealing heavy blows against
the Loan Bill, when Mr. Wentworth, who
is a strong supporter Of the Secretary Of tha
Treasury, Interrupted him, and running
cross fire took place Of an exciting eharacter,
were keen1y enjoyed by tho whole House.
Most of the members gathered aIoum the
disputants, who sat not far apart, and the
contest was watched with great interest It
Is generally conceded that afr. Stevens has
at last found his match in that peculiar
to destroy the force Of sueh arguments
rs be cannot eoDtzoveFt successfully with
arguments of his OWL, the bill won friends By
1t. The movement Of Mr. Morrill, to strike
out the foreign loan clause, was-{n addition
to- Mr.. Morrill, and Afr. WentWOtth)- ably
supported bT AIr. OOuLMeA Aua III. 0AtAelt13
It was opposed by Mr. Steyens, Mr. Pike and
Mr. Baker. The question turned entirely
upon giving the Secretary or the Treasury
The power to contract the legal tender green
back currency. BIZ. Lynch, whlle faToring
the giving Of power to contract everything
else, opposed any peney BY Which NE green.
urged that the Government itself could aud
should, at 40 early day, take the lead in re-
sumlng specie payment. By reducing the
grccnbacks in gold, and making. them the
basis OF redemption for the National bank
merit Of being the only way suggested In all
tie discussions by which the much desired
specie payment may be rcached. Mr.. Gar
field adeanced the remarkable proposition
that the way to prevent gold from going
abroad Was to create demand for 1t at home
by making the hanks redeem their Issues in 1t.
How he proposed to nuke the banks do this,
Bfr. Garfield did not say. It has been seuer-
ally supposed that the way to stop the export
Of gold was to reduce the imports Of goods,
or to increase the export Of our product. Ar.
Lawrence, Of Ohio, Offered the bill, ana W.
the lead OF the gentleman from Pennsylvania,
! {Alr. steSeus,) md then proceeded to advocate
The policy ofthe Secretary ofthe Treasury. Mr
Darling made very practical, business like
| speech, In which he took ground In favor OF
I converting all tho interest bearing floating
debt Of the Government and sRayins Oh en-
| tirely the compound interest fotes BY install
| meutn at certain stated periods. He, how
| eyer, strongly opposed the policy OF contract
I ing the legal grecnback currency. At quar-
| ter before ten o'clock Mr.. Morrill, closed the
debate on the bill, and moved the previous
l question. Mr. steveus then moved to lay the
whole matter, including bis substitute, on the
table, which was lost-geas, 80; nays, 9s
The question REQUIRED upon adoption. Mr..
Stevens substitute which prohibits the seere-
tnry from contracting uou-insercst bearing
legal tenders which was defeated BY a much
closer vote (6t ayes to 73 nays)
than was expected and revealed the
strength Of the Treasury to be I'm.
expcctedly great. Just here occurred
| sArewd parliamentary dodge BY the oppo-
nents Of the bill. Air, Egggg1eston called tor
the reading OF the engrosscd blll. The bill OF
| course was not engrpssed, and could not be
read, but its friends Immediately moved to
adjourn. on which they demanded the yeas
and nays, during which the bill was en-
| crossed and was then ready for the third
readlue. The motion to adjourn was OF course
| voted down, and then the vote vas taken on
It's passage, which resulted rather remarkably
after the previous rote, viz: ayes Is, nays 70.
The bill and substitute were thus both de
feated, enough Republicans changing their
vote on the passage Of the bill 10 defeat 1t.
3Ir. Garfield changed bis vote 80 as to move :
reconsideration. of the vote by which the bill
/ .roa 1oe+