Cleveland daily leader. [volume] ([Cleveland, Ohio]) 1865-1873, 1866-03-23
FROM WASHINGTON.
The Loan BilI-Exeitiue Struggle over
It-ifS RecOmmitInenf.

It-ifS kecOmmitnent.
Especial Correspondence Cleveland LEADEa-l
WASHINGTON CrrY, March 10, 1866.
To-day there has been another hard
struggle in the House on the Loan Bill.
As this is a very important bill, and the
fight has been so fierce, 1 propose to give
YOU some account both of the bill and of
the struggle. The bill was reported from
the Committee of Ways and Means, and
was very brief in its terms, but compre-
hensive in its scope. 1t proposed to give
the Secretary of the Treasury power to
fund the unfunded debt by selling the
bonds of the United States at his discre-
ton. The bill was called up on Thurs
day. Two OF three speeches. had pre-
v%iously been made upon it. Il was quickly
manifest that there would be q bitter op-
position. The ground Of opposition was
that the bill gave the Secretary too much
power. Several speeches were made pro
and con on Thursday afternoon, but the
chief discussion was on Friday. Thad.
Stevens was the leader of the opposition,
placing his objections on the ground
indicated above. During his speech
there was an intensely exciting col
loquy between Mr.. Stevens and
Long John Wentworth, along John ,
on the whole, getting the advantage of
"Old Thad,D as each IS popularity called in
.bo uo,eo THE f-;aDde Of tho hill oon-
ceded that it conferred great power upon
the Secretary, but alleged that it was called
for by the financial situation They
argued that in no other way could a re
turn to specie payments be commenced.
When it is remembered that the unfun-
ded debt of the nation is 81, 900, 600, ESQ,
it is evident that so great a power should
not be given to any %inancier, however
able or honest, without its being necessary
to avert imminent danger.
At the close of Mr.. Stevens speech,
Mr.. Garfield get the floor, and the House
adjourned. The House promptly re-as-
sembled at u o'clock in the evening. The
interested manifested in the afternoon
was by no means abated. Mr.. Garfield
took the floor and held the House one
lOuIs nlhkAlE I'LL EAA AIS1 dAAA ttAN AALAlH
speech. Two or three short speeches were
then made, and the discussion ended. A
variety Of parliamentary m~akeshifts were
resorted to defeat the bill without coming
TO a vote. The friends of the measure had
been steadily gaining ground during the
debate, and were anxious for a vote At
once. The opposition insisted that the bill
should be formally ~engrossed before being
put on its passage. At last the vote
came and stood, ayes 81, nays IS.
lost By a single vote. Mr.. Garfield then
changed his vote to enable him to move a
reconsideration. After the vote was de-
clared, this was promptly done. A mo-
ton was made to lay the motion to recon-
slider on the table. Pending this motion,
the House adjourned. 1t was almost mid
night.
According t 0 the usage of the House,
Saturday is devoted 10 miscellaneous
speech-making. The Loan bill in conse-
quedce went over until Monday. 1t came
up, therefore, to-day, as the special order
at the conclusion of the morning hour.
The friends of the bill were confident they
would be able to carry it. But there now
came in a new complication. An analysis
of the vote on the passage Of the bill
showed that the ayes were composed of the
solid Democratic vote, and of only a small
portion of the Union men. A party ques-
ton was raised; was it policy to allow the
opposition to control in this manne the
financial policy of the nation2 Some
saw here the wedge that should split the
Union party in twain.
Promptly at two, the bill was called up,
ard the tacticians managing comnenced
their evolutions. Mr.. Garfield yielded the
door to Mr.. Broomall, of Pa, whohad the
Dad taste to read a written speech to
an excited House. Mr.. Garfield yielded
the 1oer still further to Mr.. Boutwell,, of
Massachusetts, who made a very cogent
and telling speech against the bill as it
stood, but expressed his willingness TO
vote for it if it were modified 30 as TO meet
his views. Mr.. Garfield briefly responded,
closing the discussion, and then voting
commenced. The preliminary vote re-
vealed the fact that the bill could not be
carried when the final question came, and
so for the purpose of saving it, Mr.. Conk-
ling, of New York, moved TO commit it TO
the Committee of Ways and Means with
out instructions. This motion prevailed,
and the struggle ended. The Committee
will probably report it back with some
modification and then it will pass. Prob
ably it would have been carried today
had it not been for the threatened politi-
cal complication. It would have been car
ried on Friday had it not been for the
manGuvers of its opponents, $50 said
Mr.. Stevens.) Altogether it has been n OF
the most desperately contested conflicts o;
the session. There is no further news
from the White House concerning the
fate of the Civil Rights Bill.
Yours, B. A H.