, 1873-01-15
WASHINGTON.
Further Details Of the Credit
hIobilier Investigation.
Testimony of Messrs. Garfield,
Ham, Durant, and Brooks
Son-in-laW.
Tie Senate Finance Committee on
The $44,000,000 Surplus
.... .Groenbacks.
the Caldwell lnvestigation-..Nothing Of
Grave Importance Unearthed
Yesterday.
Special Dtspatch to The Chicago Tribune,


FINANCIAL.
WARRINGTON, Dec. 14.-Congross, ut an onrly
day, will hayo an opportunity to paos upon tho
claim put forward by Hoorotary Boutwell,, TINT
under existing laws ho has right to incroaso tho
currency to tho extent Of GA 900, 900 beyond tho
limit OF $3.50 1000 900 established by his predocca-
eor. Tho Bonate Finance Committee submitted
majority report, gigned by Senator Sherman
and four othermombera of tho Committee, which
denics that tho Bocrotary haa any right, md
which arguos that tho plain intontion Of Con-
groas, in itB legislation on legal tondor matters
since 1868, has boon to gradually roach speoio
paymonts through contraction OF tho
currency; that this policy, in conHo-
quonco with such intent, was inauguratod
by sccrotary McCullocl TINT tho crodi-
tors Of tho United Statea throughout tho
world had boon given to understand that tho
Government would do nothing to dcpreo!ata ita
This may may said to bo in Chief Ito theory Oh which
tho minority report proceeds, and tho resolution
accompanying tho report sets forth tint tho seo-
rotnry Inns no right to incroaae tho currency
single dollar. Tho minority OF tho gommitteo.
however, composed OF Senators Wright, Of
Iowa, and Forry, Of Michigan, a.o preparing.
report tonight, which will bo submitted to the
sonate tomorrow, which negatives tho majority
report in every particular, mid Wl1ch conel9aes On
rotary to isauo this Ill. .00D,000. The minority
set forth tint tho question is one simply for law
yors. aud to DO decided only by fair construction
Of tho Btatntcs. They hold TINT tho acts Of
8, 1865, copfor 1.ncquIyocably upon tho SECRETARY
tho power to issue and ro-isaue United States
notos to amonnt not exceeding el5o, ,000, ,000,
subject only to the restriction that 500 00,03o
shall bo roaervcd for tho redemption OF tompo-
rary loan deposits, to bo issued only when nesee-
sary for that purpose, aud tho amount issued by
those laws which may bo used for por1manone
circulation ia $500, ,00o,0o0. They hold that tho
the socrotnry not only tho power to iuuuo United
,,,dss' notes received IL or returned into tIo t
Treasury, or to cancel and destroy tho
,r to tho limit Of four hundred millions. Tho
minority mako direct issue with tho majority
aB to tho fact it has been tho intention OF Con-
greaB to logBlato in the direction OF contrnoing
occasions when Congress- hnB logislated posi-
tiyoly upon tho subject, it las boon to arrcHt
reduction Of tho amount Of currency in circnia-
ton; first by prescribing tho ratos OF reduction
by an absolute suppression of tho process
But on no OCCASION las Congress shown pos
tive intention to arrest Or modify, In auy man,
ner, tho authority Of the Secretary to issue mud
re-tssue United stasoB notes to tne exions 'Mt
ed to the faet thut tho act Of Fob L. 1865 related
wholly to tho authority md practice Of
tho Secretary with reference to the Withdrawal
roisBuod or not and In no particular to the o1er-
ose Of tho power Of issuing, conferred by for
! NOR acts. It will thus bo seen that this voxed
question will be fairly boforc Con8resa fo1 dis
cussion on It's naked legality. Tho minority re-.
port viii bo submitted tomorrow to bo preaentad
| with the one submitted today by the majority
| POSTAL LAWS.
Tho decision Of tho Postmaster General, that
mail mnttcr not fully prepaid ut tho oioo aa, o.
%s0S one Sfa anA Fas FRaEe ''Gs'' Is psepsa has NIT
consure @ tint tic House Post Office
Committee @ t toasy tGoh sa 5Reat SR ta' uaa aasa
mo1lsly, except ono vote, that :hlr. oreswolla
construotlon OF tho low WAS an improper one,
Tho following joint resolution WAS then agreed
to by tho Committee:
Resolped, That the true intout and meaning of sec
!ous ISL and 162 Ut tho act to revise, consolidate ana
amend tho statute in relation to tho Post Once Depart
nlent, approved June 1874 nrc among other thinFs
as TeGared BY a1 on tic nail lnater IN said seoi
mentioned, such mail matter shnn 10 forwarded to y
aVst3 ehafsd aG
DO collected where such pareini propalu hsa pee'
made.
The Postmaster Genoral WAS bofore tho Com
mltteo'a consultation on tho general subject
his Department, and it is probable ho will mod
ify hin order before the resolution is presented
II moY possibly 20 to tho Attorney General to
his decision. Tfo question Of tho reduction O
letter postage to two cents for eaoh half ouno
was discussed by the Committee Of son
length, and Bee1nH to bo favorably re
rarded. tho Postmaster General is al
SO understood to favor 1t. It Boems probabl
tho Committee will agree to tho proposition fo
tho payment Of newspaper postage IN order t
| avoid tho transportation OF latbo 4uantAish
newspapers which are mover PAID 1or anu nc
takon out Of the otlice
THE DvnE1L lNyEsrinAT1oNI. it. T., o,,
Tho House Judiciary COMMITTEE, at lts moe !,
ing to-day dd not eohhle9r an9 rosolusion 9 ~