, 1874-12-20
Settlement Of the Chicago, Alton & St.
Louis Tax Case.
The Point Raised by the Company
Sustained by the COM
missioner.
Senator Morton, of Indiana, Taken
Suddenly Ill.
SENATE FINANCE BILL.

1kAulNb fO1SIS 1uEHEOF
Sp<cial Dispatrh to Ihe Chicago Tribune.
WASHINGTON, D. C., Dec. 19.-The Republic
IN Senators wore in CAUCUS to-day for four houra
There is an inoxcusab'e mystery about the re-
suits Of their deliberations. It is known. how
ever, that tho Caucus Committee On Financa,
which was appointed at the beginning Of tho
session, aud which has held almost daily meet
ings since, submitted its report to the full c1u-
Gus, and that the report WAS adopted Tha fol-
lowing arc tho features which it is agreed shall
be inserted in q general Finance bill:
SPECIE PAYMENT SHALL BE RESUMED
Jan. 1, 1879. There shall be f1ea banking, silvea
shall be substituted for fractional currency; AZ
fast as bank-notes az9 issued 80 Per cent OF
9reenbacks ahall be retired, until tho anount
outstanding IS reduced to $500, ,00o GOO. Thesx
shal be q tars Of is OF per centum for coin-
age. Tha Secretary OF the Treasury is authors
lied to make aa3 arrangement which may seem
to him advisable concerning any bond, the issue
Of which has already been authorized No fur
ther reduction Of the greenbacks Is to be mada
below $500. .oo0, 600. Tbs theory is that the oper-
ntions of the other provisions Of tho bill will
have the effect to
BRING THAT AMOUNT OF GOLD HIRE.
Tho Secretary Of tho Treasury is also to ba
empowered to use the surplus specie in the
Treasury to redeem Treasury notes in gold, and
if this amount ia inadequate, he may sell any Of
the existing bonds. There is no Recommendation
thattho Legal-Tendor net be repealed. The drift
Of the Committee in CAUCUS discussions seems to
hare been that the repeal OF the Legal-Tendet
act would follow as q sequence OF specie r.
sumption, but that it's repeat should not Of
neceBslty precede resumption There ia little
doubt that q bill cmbodyinE tho features herein
indicated will pass tho Senate, rs the decision Of
the caucus is
EQUIVALENT 70 VOTE IN OPEN SENATE
It ia learned that the fnal discussions in full
CAUCUS Ncre entirely harmonious, and that these
provisions were agreed to with astonishing
tionists wero in the majority On the Caucus Com
1nitteo which framed this BILL These featureH
represent the viow Of tho vast majority OF the
Senate upon tho only po6aiblo means Of CON-
promise On finance
It is proposed that shortly after tho holiday
recess, which now seems certain. the House OF
Representatives meet in caucus to discover
whether they can unto upon tho provision ia
which the Senate Republicans to-day agreed.
ITO the associated Press1
WASHINGTON, d. C., Dec. 19.-1loat Of tha
time OF the Senate caucus to day VAS consumed
Oh the finance question The debate took d
vide range, but all rho spoke expressed tho
therefore It vas the part Of wise statesmanahip
to lnrmonize their Nowa II possible. The CON-
mitteo OF Eleven, 3Ir. Sherman. Chairman,
before they brought their report into
Of Oft the 1epos+ and four agaast ea it, bat nay nj Won on
motion Of one Of the four, the report WAS made
unanimous, and adopted By the Caucus. The
bill agreed upon will be reported ut Al early day
to the Senate. According to the best attainable
information. it provides for tho resumption OF
specie payment on Jan. III. 1878, for frea
Banking, and for the retiring OF green
backs to tho o1ten& of 80 per cent
Of the amount Of new Nstiona1 Bank notos is-
sued, and 2'so requires the 346, 600 600 Of frac-
tional currency to bo gradually withdrn1n. and
ailyer coin in denominations OF from to so cent.
issued in ITS place. The Sccreta1yof the Treas
ury is authorized to use the surplus coin in the
Treasury on and after the day fixed for 1esnmp-
ton to redeem legal tenders, aud, it necessary,
to sell bonds for the same purpose il tho amount
Of specie il not euficicnt.