New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1870-06-30

Committee the bill for the relief Of certain on
section Of the b Which refeed To- retired officers The
report was agreed to.
Elections, made report In The Missouri contested elec
ton case that Mr. David y. Dyer the sitting memDerB
contestant, is He gave notice that he would call it up
for action on Thursday week.
Mr. CESSNA tRep., PENN presented the Views OF th
minority, with opposite conclusions.
Mr.: LOGAN dsep., Il.) offered a resolution, directing
crippled soldiers employed under him. Adopted.
Mr.: BUTLER G1eP Mass) from The Reeonsiructop
POLITICAL VT 81 disabilities Of Henry E. Bodham. Passed.
sp Ms ys ees
IN r lne Interior Interior Department. Passed.
ference report
A.. r,,n,, THE CURRENCY BILL
70 g Tee nG se fe ,a, and me an
ot ,, 1 Gnpnr enc Committee appointed.
u the West Me- r SsRc not ENC going
believed IL would be better TO put the biI on until the
aett Congress ana then pass general measure Of re-
on which directly tended TO bring ruin and disaster on
the country; There was no expansion ~ the bin. n
would require fifty -four millions OF grceubacks 10 he
kept as reserve instead Of the forty 1--WE millions Of
three per cents 70 be withdraw and provided only for
1t was, therefore, measure OF contraction In that re
spec and also respect OF the gold bank soeton ."
Mr.. JUDD also argued against the Conference r.nort
which, he claimed, settled the question against the 10
country. He asserted that the report adopted
the currency would he contracted at least 100000
s20O0OOO F0rtyhye millions OF Rreenbacks would havs
to replace the three per cent certificates That
just equal to the amount Of additional national bank
rency allowed to be issued but OF this additional
20 per cent, or 100000 had to be held IA reserve in
greenbaeks, SO that the amount locked up would
garded It fepent OF the brain 10 would he only
adding 20 rne difficulties OF the situation. They had now
currency OF National Bank notes and grcenbacks, and
this would throw in additional kind Of "shinpaster"
II members chose TO call 1t so. He expressed his c90Ye
ton that II this report rejected and Confer
eDce aDDOinted. would
stantially in the provisions made by the House;
Mr.. ARMSTRONG (Rep, PENN expressed his belief
that any policy looking contraction OF the currency
would be Injurious to the business Interests OF the oogn
measure sure Of Contraction at least TO the amount Of
100000 He thought the wisest policy would be TO re-
ject the report, even though the bill should fail. 800
Mr.. INGERsOLL CRep., I'D believed that fourftths
OF the people II there could be popular vote on the sub
that too, in the shape of greenbaeks, rather than Ma
Mr. TOWNSEND Rep., Penny also opposed the report,
he looked upon 1t as measure Of great expansion
Mr. BENTON Qaep, \. h characterized as the most
panson. He was twttered and badgered considerably
by Messrs Edredge and Ingersol 10 his own views
ing those views to himself
Mr. JONES Dem, Ky) advocated the Conference 70
port and stated facts showing the proprety Of redls
trbution OF the currency. He was afraid that unless
this Conference report were agreed 10 tne Dl SC i
He approved the report, not because II met MS veTs
their full extent but because he believed was the Des'
Mr. GARFIELD Dep Ohio closed the discussion bya
speech in advocacy of the report As TO the p9nt tha'
the q measure OF
fion 10 the remarkable spectacle presented in the House
by two exceedingly able and Intelligent Republicans
from Pennsylvania, both Of them intimately con
necfed with the national banking system, taking
opposite views Of the measure. One Of them
GIr Armstrong; had made speech opposing
The repOrt because IL Of contraction and
the other Mr. Townsend had made "A speech oppOsingn
as a measure of imitation That as high complL
ment as report could have, because it was clearly
proved by one that IL was not contraction ana ~
the other thht IL not imitation, ana that was
lust what the Conference Committees Of :he House andof
The Senate expected to reach. Those gentlemen who
lad figured up contraction in the bill ignored the fact
that in starting the additional s45G0,e0 OF eur
reucy I'm places now destitute, the credit Dust
ness of the country would be increased by tht
whole volumes checks and drafts issued from hand "a
hand In contraction being worked by
the OF the three eents which always
be presented for redemption the Committee Of
Conference proposed to have additional issue ot
$4SoOO0O of national bank currency which would be dis
-. a4.11au