New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-03-27
| the evening, when it was understood that Vot
| on the bill would be demanded. 4.-


| hiGHT SESSION ON THE LOAN BILL.
Pacing down Pennsylvania Avenue, to atteh'
the great debate on finance, we were pleased II
OBTAIN view OF the capitol under the most favor
able auspices. The dome was brilliantly Alumin
ated almost from base to apex, and shone oVel
the city of Washington like some fairy light sus
pended in the heavens. The wings were also
lighted and blazed with palatial effect over the
surrounding hills. The entire scene reminded Us
OF some respondent mise en- seine, which formerly
delighted our youthful days. After entering the
gardens the effect became still more romantic,
and we should not have been surprised il, IN ful-
flment Of some ancient legend, an armorea knight
or devoted maiden had issued from the portals OF
the white castle of enchantment But the lances
that are broken in this vicinity produce more
bloodess effects, perhaps not less Injurious, than
those that were welded in the days of yore. The
spectators of the arena were not SO inspriting as
| the beauteous danes of the fitting feld-ebon
faces, the unwashed rabbe, and sleepy reporters,
formed the bnlk of the numerous audience.
| Mr.. Garfield arose to address very sparse
collection of his compeers, but the House was
rapidly filled, and during an able speech of one
| hour the members preserved marked attention
The facts stated in favor of the bill were not a
little startling. Sixteen hundred millions of gov
eminent obligations fall due within three years,
for the payment of which provision must be made
The question of simple Indebtedness, contrary to
the general opinion, requires immediate solution,
and if the committees project is not accepted,
some other one must be devised. The Secretary
has been funding nterest-bearing obligations into
| long bonds, but his authority to act thus has not
been established.
The clause of the bill is considered doubtful by
Mr.. McCulloch. Legal tenders have been also con,
verted by previous change into compound interest
notes, and this circumvention is entirely
sary. There did not seem to be much doubt on
the advisability Of contracting, although some
obtuse minds still thought that the currency was
not redundant. In snarling, nasal tone, Mr..
Wilson cried Eureka" when he found that gold
had fallen Notwithstanding the emission of green
backs, but General Garfield soon disposed of his
captiousness by explaining that the absorption OF
money in the South had maintained the value Of
legal tenders. AT this point of the debate, Thad-
deus came hobbling into the hall with a mysterious
paper in his hand, which being read by the clerk
proved to be avowal Of his entire policy on this
question. The result of his past prandial lucri
brations was an additional proviso to his substi
tute prohibiting the withdrawal of single green
back from circulation. Several gentlemen endeav
ored to read their prosy manuscript documents
but ten o'clock having passed, the House became
impatient under the nfiction, and gladly compro
missed with an agreement to print the discourses
Thaddeus now arose, and requested permission
to withdraw the last paper which he had pre-
sented, but long John was Immediately on his fee
with an emphatic objection. Stevens seemed CON
pletely taken aback his restless eyes wandere
about the hall, and for short time, he was lost
the effort to provide a remedy from his oW
: mental resources. Was the great leader to be re
S pulsed in the presence of his followers? Like
lion brought to bay, his compressed lip and lashin
II eve seemed to cast defiance at his enemies Wit
l. commendable rapidity he moved to lay the bill an
l. substitute on the table, The motion was lost, an
y Stevens amendment itself followed the same fat
l. The original bill had passed the second reading
J. and amid great confusion and hubbub of voice
e that rendered the Speaker almost inaudibe, tn
J. yeas and nays were taken on the motion for az
% iournment As the supporters of the bill coul
h not at this late hour obtain recess, the calling
1t the roll gave time for the engrossment, and tn
of measure was Immediately afterwards put on il
D. final passage. Contrary to general expectation
he II was lost by five unstable votes. General Ga
d. field changed his record to the majority, in ord
st TO move a reconsideration the voters gathere
Or about the clerks desk the arena in front of Il
e. Speakers chair was crowded by detected and e
OF utant members and after the stormiest night
ut the session, the House adjourned, as the sta
IS were fast fading into midnight slumber. Lol
he will that night be remembered by those WI
visited the Capitol Hill. 1t marks an epoch in t
financial history of our country, which must bril-
es general disaster or restore us to pristine prt
ne perity. KANdARoo'