The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-01-16
IcComb's Credit Mobilier In.
vestigation Dragging On.
"A SCAMPER IN THE HOUSE.
Farnsworth Soaring All the Corporation
Attorneys" in Congress.
The Great Red Man To Be Consolidated
and Pillaged.

WASHINGTON, Jan. Ii, 1873.
The Prcsideu t's Friends Fighting Soma
tor Shermau's ResOlutiOn-How Imper-
tinent Legislators to be Treated
BOutwell's Policy not to be Questioned.
Senator Sherman's resolution from the Commit
tee on Finance, pr0ciaiming the opinion OF the
Senate on the official financial action OF the Secre-
sary OF the Treasury, is regarded as officous and
Hnwarrantable, especially by those who have
read in document known as the constitu-
zion shat while Congress has the power to
make all laws" it is the duty OF the
President to "take care that the laws be
faithfully executed 1t is the President alone who
is responsible for the in which the different
departments OF executive administration are con-
Quoted, and any attempt on the part of single
branch OF Congress to intrude It's opinion upon
enc OF those departments is not only medde-
some intrusion into that department., but
direct insult to the Chief Magistrate.
who is responsible therefor II Congress
chooses to enact law which receives
the signature OF the President he, of course will
see that it Ia faithfully cuted;" but for sin
gle House OF Congress to attempt to dictate to him
how his Secretaries shall construe these laws, is
an offensive assumption which shows that some
Senators have not divested themselves OF the arbi
the war, in derogation OF the constitution. The
action OF the Secretary of the Treasury is
In every respect legal. The Loan act, approved
June 80 1854, limited the amount OF United States
legal tender notes to $40O,OOO,OO0 Under the act
Of April II, 1856, the Secretary OF the reasury
authorised to retire any portion OF these notes,
without any limitation on that power, except that
che reduction was not to exceed $4,000 600 Tor
the next six months and $4,OO0,O00 q
month thereafter. Under the provisions OF
this act the Secretary proceeded to reduce the
volume OF these notes to about three hundred and
nfty six millions, when Congress- by the passage of
law, suspended this reduction The object of this
haw as declared by Mr.. Sherman in debate in the
Senate on the 9th of January, 1868, was simply TO
repeal the authority conferred the Secretary OF
the Treasury to retire 1our millions OF legal tender
notes month.
Mr.. Edmunds offered an amendment which pro-
hibited any expansion increase OF the amount of
legal tenders then in circulation. but to this Mr.
Sherman offered a vigorous opposition. There is,
consequently, no law prohibiting the reissue or
legal tender notes until the sum OF $500 600, 900,
originally authorized, has been reached.
Mr.. Sherman and others may have their
opinions on this subject, but there is no
law to the contrary. Mr.. Sherman evidently fears
that Congress would not pass law prohibiting
this reissue, or he would have presented one
neither does he dare attempt by joint resolution,
10 censure the President or the Secretary of the
Treasury but he gets three OF his associates ON the
Finance Committee-one Of whom, Mr.. Ames
Of Mississippi, admits that he knew moth
ing about the matter-tO join him
In reporting An innocent looking little resolution
declaring that Ia the opinion of the Senate wrong
act has been committed Five years ago, rs Mr..
Edmunds then asserted in debate, Mr. Sherman
was willing that there should be left in the hands
Of the Secretary of the Treasury the power to re-
issue forty millions OF legal tender notes in day.
Now he asks the Senate to express its opinion that
such reissue cannot be legally made.
When the President desires legal opinion as to
the construction to be placed on law he will
probably ask 1t, not from the Senate, neither from
the Finance Committee or from Mr.. John Sherman,
but from his legal adviser, the Attorney
General OF the United States. The feeling
that the President has been insulted by this
resolution OF Sherman's is very strong here, and
the old democratic war horses are recalling their
recOlfections OF the contests between Jackson and
the Senate, when that body was controlled by the
banks, as John Sherman evidently now is The ex-
ecutive and the legislative branches of the federal
government stand on footing OF perfect equality
IN point OF weight, dignity and individual
responsibility, ana any attempt the part of the
Legislature, especially in branch OF it, to en-.
croach on the Executive duties ana rights will be
promptly rebuked by the people, and should be
deprecated by all good citizens There will soon
be spicy debate on this sapient opinion In the
Senate and some who do not favor expansion will
join In protecting the Executive from impairment
dictation.
DIR. Durant's Policy in re the Credit Mo-
bilicr-Rcm arkabie Candor OF Inter-
cstcd Witnesses.
The investigation to-day by Judge Poland,s COM
mittee brought few new facts to light The greater
part OF the testimony was merely O reiteration OF
yesterdays evidence. Much time Is wasted by
these vain repetitions, and great many unneces-
sary questions are asked by the committee and the
otner parties concerned--a course which is likely
TO preclude the former from asking some necessary
ones. DR.. Durant was again before the committee
and explained at considerable length how he came
to give Mr. Brooks bonus consisting OF Credit Mo.
bier stock and Union Pacific shares and bonds,
worth in all about thirty thousand dollars,
IN return for which Mr.. Brooks gave him
Si"ooo cash. There has been testimony
enough about Mr.. Brooks whose case would not
DC worse than that OF his colleagues II he had not
mace MS unfortunate speech in the House. The
committee are now expected 10 inouire more par.
tcularly Into the transactions of the other mem.
bers lnGtead OF concentrating all the calcium
hght upon Mr.. BROOKS DIR. Durant In his testi-
mony maze some very Interesting statements. He
acknowledged 10 having contributed $4,000 to-
wards the election OF Senator Harlan in Iowa.
Mr.. Nhlacks asked him whether he gave the money
from patriotic motives. Dr. Durant replied. ..No.
there was no patriotism about it, He wss heav,,v
interested IN railroads In Iowa and Thought :,
woSld be o good investment to elect Harlan ~
take care OF his railroad interests.
Another witness. Mr.. l. C. Bushnell, trustee
under the Cakes contract volunteered his testi.
mony. He acknowledged that his purpose In COM
ing forward was to bolster mp the Credit Mobilier
stock. which had been badly hurt by the investga-
ti0n. He declared, In plantIve manner, that he
Dwped 100000 worth Of that stock, and had been