The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-02-01

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Late Financial LegisIatIOn.
WASHINGTON, January 3l.-The uncertainty
prevailing IN all quarters throughout the
country regarding the financial legislation con-
templated by Congress, is beginning to make
itself felt in both branches very strongly. Pro-
baby the business of the country would receive
material benefit ii 1t could be positively known
that all the efforts of Congress are likely to
result in leaving matters just as they are at
present. l do not hesitate to say that the pros
pect OF the final passage of tie Tariff, Tax, and
Bank bulls is SO remote that they may be practi-
cally considered failures.
Even at this day the Tariff bill is being so
heavily laden with Objectionable features as to
seriously ieOpardize all chance of its success.
The Tax bill, when reported, will recommend
but very slight reduction in taxation, because
OF the fact that high tariff is being perfected,
and that the receipts, owing to the falling off in
business, are now considerably below estimates.
The Bank bill has been SO long hanging In the
House that circumstances and events have
changed some features that were practicable
months ago into impracticable features now.
The question OF continued contraction OF the
currency is also receiving much attention,
though no direct proposition to interfere with
the present rate is yet regularly before either
house. 1t is quite likely, however, that during
the coming week this question will be brought
before the House Of Representatives for direct
action.
1t is confidently asserted that there is ma
iorty in theFHouse against further contrac-
tion of greenbaCk legal-tenders. But should
such measure pass, 1t would still have to run
the gauntlet of the Senate Finance Committee,
which Is known to be against interfering with
the present rate, and it is not at all certain that
the Senate itself would not sustain its COM
mittee. In view of the consideration of these
various matters, very large number of the
business men OF the country are now in Wash
ingtOn. | learn that considerable number of
heard before the Financial Committees with
reference to measures bearing upoL ,heir in
terests.-Ne11 York 1tmeS.
The Tariff Bill.
The Tariff bill passed the Senate last night by
the decisive vote OF 27 to 10, all the Democrats
present but two voting against 1t. These we're
Messrs. johnson ana McDougall. We congratu-
late the country on this result, achieved much
earlier in the sess59}ee h}e aahmendments to- the bill
Gaty Gve Seen S ihs Generally for the increased proec
tion of American industry. Yesterday. IN day
and evening session, it received important
changes. The duty on cast-iron pipe was raised
to Ii cents per pound; on files over ten inches
IN length TO cents per pound. "
After considerable debate the duty on woollen
cloths was placed at 45 cents per pound, and 30
per cent. ad valorem, with proportionate in
crease on different grades. The drawback on
articles used in ships was amended so as not to
apply TO steam vessels, and an amendment eX-
cluding the drawback from sailing vessels was
rejected. Animals imported for breeding were
placed on the free list. A motion to reduce the
duty on coffee to cents per pound was dis
agreed to- and also one to reduce the duty on
printing paper to 10 per cent. The bill is not
the best that might be framed, but Is, perhaps,
as good as we could hope to see passed. Now
let the House go promptly to work and do its
share towards protection to American industry.
N. Y. tribune.