The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-04-03
become OF the amendment for free banking offered
by the gentleman rom Illinois lMr. Loganl
THE INITIATION STRATEGY.

become OF the amendment for free banking offered
by the gentleman from Illinois (Mr. Logan)
THE INFLATI0N STRATEGY.
Mr. LOGAN, (rep.) OF H., said he would withdraw
that amendment TO allow that OF his friend from
North Carolina to be offered. II was very evident
that there were number OF Senators in favor OF
more currency but opposed to free banking. and
as he wanted q vote, he would not press his amend
ment.
Mr.. SALISBURY, (dem.) of Del offered an amend
ment prohibiting the Secretary OF the Treasury
from paying interest on bonds which have been,
or may hereafter be deposited in the Treasury to
secure circulation, except on the excess OF the
par value OF such bonds over the AVERAGE circula-
ton OF SUCH ASSOCIATIONS during the current year.
while such bonds shall remain on deposit In the
treasury TO secure such circulation. Rejected
without q division.
CRASHING AT STRAW.
MI. DAVIS, ldem.) OF w. Va, offered a substitute
for that oil Mr. Merrlmon providing that $50 600 600
OF NATIONAL bank circulation snail be Withdrawn
from the states In excess ana issued to the States
having less than their proportion.
Rejected, yeas 20, nays 81, as folows:-
DAVIS fenon ApsSny 0snsnE Gssn
Maryland, Hamilton of Texas hamIin Jones, Kelley,
mon .na wsds susOury sehur she
c SAYs,Messrs Allison Boxy Boreman, Carpenter
Johnston, Lewis Logan lccreery, Merrimon. MICHEL,
Ramsey Robertson, Spencer. Upton, West aud Winaom
THE NPLATIsrs AGAIN TRIUMPHANT.
The question then REQUIRED on Mr.. Merrlnon's
substitute ana it was adopted. Yeas, IS; nays
~, as iOlows:-
cYx,sn Allison Bcsy csrpens
hWae Gorao" ncniock Insss Jon sS,n
Logan hMeorery nsrPPo Mitchell Morton
Fo5estson sherman Spencer Thurman, Upton. West
NAYs.-aessrs Anthony Boutwell,, Chandler, conkling
COOPER IiaGn, ferfy OF Connecticut frelinghmysen
ha%n Jones' Kelly sor,l Of Vermont q Sargent sss
Salisbury, stewart and StocAton-l9
NO REDEMPTIoN-FoR GREENBACKS OR THE COUNTRY.
Mir. FRELINdHuYsEN, (rep.) OF N. j., offered an
amendment similar to That submitted by him q
lew days ago. Tor the accumulation OF gold coin IN
the Treasury, with view 70 the resumption OF
specie payments at some future day. Rejected by
yeas IL, nays 81.
ANOTHER STEP
Mr. THURMAN, (dem.) Of Ohio offered as an ad-
ditiona section-rnat from and after June &c.
1874, One-twentieth OF the customs dues shall be
paid IN United States legal tender notes; after
June 80 1875, one-tentn, and after June 30. 1875
one-hlth OF the customs dues shall be so paid.
ment to The section OF Mr.. Thurman the follow.
Swhenever the same can be done without violat-
ing the pledge made by the act OF February rs
1862 for the payment OF the interest the public
debt and providing SINKING iund."
Mr. THURMAN accepted the amendment.
Mr. SCOTT, (rep) OF Pa, SAID the amendment, If
adopted, would undoubtedly cause the defeat OF
the oil in the House OF Representatives. The pro-
fore, could not be originated IN the Senate. The
senate, some time ago. passed bill to repeal the
income tax. That bill did not propose TO raise
revenue, but took revenue out OF the Treasury !;
ana the House, on the ground that 1t was bill
pertaining to revenue, refused to consider it.
the amendment Ut the gentleman from ohio (Mr.
Tnurman), in the hope that the adoption or it
would cause the House to lay the bin on the table
the better for the country. (Laughter.) He was
for hard money, and wanted TO see the bill defeated
somehow.
MI rhurman's amendment was rejected-yeas
10, naysH.
Mr.. SALISBURY (dem) OF Del offered an amend
ment to the first section OF the BILL authorizing the
Secretary OF the Treasury to redeem legal tender
noes on the LIST OF January 1876, in sums Of ST. 900,
and any multiple thereof, at the rate or 500 in
thereafter at the rate Of 500 in IN coin i ior
sos IN currency; on the LIST OF January, 1877,
500 in coin tor $loe in currency, and SIX
months thereafter 500 In coin Tor $l04 IN cur
rency; on the 1st Of January. 1873 500 In coin Tor
slo2 IN currency, and in six months thereafter he
snail redeem them at their face value Rejected
yeas I, nays 81.
Mr.. MORRILL,, rep.) Of Vt, offered as an amend.
ment to the substitute of Mr.. Merrlmon the bill
recently introduced in the House requiring ma
tiOnal banks to keep an amount IN United states
notes equal to five per cent OF their circulation on
used only for the redemption Of sucn circulation,
and providing that IT shall be redeemed IN green
Alter some discussion the amendment was with.
drawn.
Mr. ANTHONY, (rep.) of R. l., said tomorrow
Christian world, he thought the Senate should not
meet 1t had been customary dur ng the long SEES.
sion to adjourn over that day, and he therel ore
moved to lay the pending bill aside in order that
he might make the motion to adjourn over.
Upon this motion the yeas ana nays were called
The bill was laid aside, and Mr.. ANTHONY moved
that when the Senate adjourn to-day 1t be to meet
on Monday next.
Mr. NORTON (rep.) of Ind. said this motion was
calculated TO waste the time of the Senate.
Mr.: ANTHONY said when he was accused Of vast
not spoken more hours than he (Mr. Anthony had
minutes he would defend himself, but not until
Mr.. TiProN, 0io.) of Neb., said If the Senate adj
jOurned over tomorrow on account OF its piety 1t
would take some sunday session to make up lost
tlme
Mr. FERRY, rep) Of Mich, moved to amend
the motion OF Mr.. Anthony 80 as TO provide that
the Senate should meet on saturday. lie was Will
lug to give one day, but hoped there would be
session on saturday to make up Tor IL.
The motion OF Mr.. Ferry was agreed to, and the
Senate proceeded 10 the consideration OF executive
business
The possibility OF q neH issue OF inconUerti6le
paper regard ruth amdzement and ANXIETY, and,
in n,y judgn,ent such an issue co,ad be a detri-
7nent and q Shdnle.-CuARLEs SUMNER
The Discussion i'm the House-A Warm
ing from the West and South-They
Can Control the Government If They
Choose-A Little Family Row Among
the New England Members-Free Bank
ing Pro and Con.
WASHINGTON, April 2. 1874.
The House at two O'Clock resumed the considera.
ton Of the Currency bill.
Mr. NILES, (rep.) OF Miss, argued against the
bill, as having tendency to disregard the pledges
OF the government.
UNEQUAL DISTRIBUTION.
Mr.. HARRIS, (dem.) OF Va, made a speech upon
the finances, aud predicted that Congress would
do nothing equal to the emergency; but would
talk ana resolve and resolve and talk until the
end OF the session, without passing any law that
would give substantial, bona tide relief. Some
paation might be offered to an outraged people.
but nothing more. He argued that there was not
circulation enough In the country, that for
the whole country being SIG ~ per capita
and that for Virginia only So % per