New-York tribune., 1873-12-16
A FINANCIAL DEBATE.

A LONG DEBATR IN TIE HOUSE ON 1HK PROPER
METHOD TO SUPPLY TER WANTS OF TIE
TREAsURY-A sKIRNIsH BETWEEN TIE INFLA-
TIoNIsrs AND ANII-INFLAIIONIsTs-AN ALARM
ING SHOW OF STRENGTH MADE BY TIIE FORMER
Mr. DAWES cRInCIsEs THE EXTRAvAGANCE
OF THE GOvERNMENT-NfR. BUTLER PAyOEs A
LOAN INSTEAD OF INCREASED TAXATION.
lBY TELEGRAPH TO THE TRIBUEE.l
WASHINGTON, Dee. 15-The intiatiopists i'll the
House rallied to-day under the lead OF Messrs But
Ter and Kelley, and made show of strength that
astonished and alarmed the conservatives. Resist
ing motion to adjourn at late hour. in order to
pass resolution of Mr.. Keley's, they were beaten
by only five votes. The financial question first
came ND on Mr. Dawess resolution calling Oh the
heads Of departments 10 reduce the estimates, in
view of the financial embarrassments of the Gov
eminent Mr. Dawes's Committee had consulted
with the Appropriations Committee, and both
worked together on the floor Mr.. Garfield following
ND MI Dawess lead with his resolution requesting
the President to report by Jan. what public works
can be stopped and what that have been authorized
are not vet begun The two resolutions were
sodated.
Mr. Garfield said that the estimates made up
before the panic began, and he did not believe they
could be reduced 10 the extent of the S42,O0,00O
which Congress was asked to raise by increased
taxation, but whatever amount they conld be cut
down the House ought to know. Mr.. Dawes made a
stirring appeal for retrenchment, declaring that all
other measures ought TO be exhausted before in
creased taxation resorted to. He proposed to
first cut down all redundant expenditures and reduce
salaries and increase the revenue only as last
resort His speech was by implication severe
criticism of Secretary Richardson. although he used
no language directly referring to him. He said that
the Secretsry's proposition had seriously disturbed
all branches Of business that would be affected by
the proposed increase and he appeared to regard the
proposition of Mr. Richardson, that Congress should
before the holiday recess, vote of hand the enOr-
nous sum of 600 of additional taxation as ab
surd.
After Mr.. Dawes sat down, Mr. Butler got the floor
aud proceeded to put himself in the extreme front
of the infationist movement by sharp attack upon
the policy of providing forsthe emergency by either
reducing expenses OF increasing taxes "Why not
reduce the interest the public debt by issuing
interest bearing notes in place of your bondsp he
asked and went on to assal the Secretarys scheme
"a proposition for the good of men who want to shrink
values by coming back to that most mischievous Of
all dogmas, specie payments" He characterized a
specie basis for paper currency rs delusion and
snare and then brought out his old convertible green
back scheme as the panacea for the financial evils
now affecting the country. he spoke rather sneer-
ingly of Mr.. Dawess plan of parne down" the
expenses of the Government, and hislbrought out
Mr.. Dawes in reply ..ttLr rH ..|
The Chairman of Ways and Means was, by this
time, fairly mounted On his hobby, and made dash
ing charge upon the extravaganza Of the Govern
ment He wanted to put knife into the book Of
estimates and cut away until the difference between
receipts and expenditures ceased exist Year after
wear the estimates continued to increase, and now
there was q grand total Of $l2,OOO,0oO demanded,
more than was asked for last year. besides the del
ciences with which the House was crowded. Turn
ING upon Mr.. Butler. he gave his greenback theory
a few slashing strokes. 1t was proposition, be
said 70 raise revenue for the current expenses Of the
Government by issuing new notes. Its adoption
yould e fatal to the credit Of the country abroad
and the mere suggestion of il by any member of in
fnepce would he damaging.
Mr. Rntler who always gets the last word replied
that we had too much credit abroad. lie did not
care what the jew bankers OF Europe thought Of
om credit the less they thought OF it, the better
for us Although declaring himself ready to aid
Mr.. Dawes TO pare down, cut down, or slash down"
lla a,nep,,t,,rea be went on " make ~ ingenious