The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-04-13


| the Currency bin cannot be put aside.
The programme tomorrow is the call Of
| the previous question on the bin and pending
| amendments The bill now stands as originally
reported less the seventh and eighth sections,
and the first amendment in order Is In the nature
OF substitute, being substantially the senate bill,
and is offered by the hero or Fort Fisher. This
Will put the House in very embarrassing posi-
tion for it's rejection as a substitute would endan-
ger the possibility or its passage when it Is reached
in the regular manner, and its adoption would
annih,late the pending bill and send the substitute
| to the senate Tor It's concurrence ~ House
| measure. But the plan agreed upon Ii to reject
| this substitute, vote down the amendment sub
mitted by Mr.. Wilson, OF Indiana, which rs for
| free banking. with other provisions than pro-
vided in the pending bill, vote down the
amendment OF Mr.. Foster, OF Ohio, providing
| for a contraction OF greenbacks to the extent OF
twenty-five per cent the additional amount OF
national bank notes put out and also vote down
the amendment submitted by Mr.. u. r. Hoar,
making gold and silver, after September next,
| legal tender Tor the payment OF any aebts there
after contracted, and authorizing the issue OF
bond bearing four and half per cent interest IN
gold, redcemabe, payable IN thirty years, in gold,
in exchange for greenbacks, which are to be can
celled and destroyed and never reissuea. II all
these amendments are rejected, then the question
will be upon the adoption Of the bin, and, 80 far as
IS now known, there no other amendments to be
pressed. The friends or the measure confident
that it win pass, and. should time allow, motion
will be made to so TO the Speakers table, and
having reached the Senate oill, to pass that Also
the Senate bill would then be ready for the Presi-
dents approval. and the House bill would go to
the Senate for its consideration ana This is what
has been developed TODAY. The Senate, finding
that its own bill is likely to become a law and
having new choice in the House bill, Will. 1t Is
said by Senator'S who dill not advocate the bill
passed by the senate, vote for the House bill as 1t
now stands While it is claimed that Senators Mer-
rimon, McCreery, Bogy and Goldthwate, who
voted for the passage OF the Merrimon substitute
would vote against the House bill There must,
therefore, be a detection OF four five from the
opponents OF the Senate bill to insure the pas
sage in the Senate OF the House bill. There
Is also another niger TO be apprehended Any
new proposition in the Senate would Involve that
body in contentious debate. The uncertainty
which would prevail on any new issue can only be
determined by debate and the management OF
Senator Morton and his 00raJreres. The friends Of
free banking in the House will he satisfied with
less than is now contemplated. In the event, how
ever, of both bills becoming laws, the free banking
measure would supersede the limit OF sac, 900, 0oO
L as contemplated in the Senate, ana would leave
the latter part OF tile section providing Tor the
tention OF gold received as interest imperative.
In all probability legislation will entangle the finsn-
cIal schemes and keep the country in suspense for
weeks to come.
Hints of the Forthcoming Report Of the
Transportation C0mmittees-yVh@t is
Recommended and Why.
The Select Committee on Transportation Routes
to the Seaboard will meet on Tuesday night, ana
Senator Window, the chairman, expects to sub
nit tI,o &li,
stated in these dispatches it win be very impor-
tant, as will be seen by the outline of 1t given
therein. Senator Window did not At first
intend to make any. comments, but with
IN the last few days he has concluded
to submit with the report some very pertinent
and conclusive convictions. He will take this
position :-'Cheap transportation Is to be obtained
only through competition, and competition, to be
effective, must operate through cheaper channels
OF commerce than are now provided and must be
governed by a power with which combna-
iiOn is impossible" Such cheaper CHAM
nels can only be provided by the construc-
tion OF double track freight railways or
! by the improvem<nt and creation AZ water
routes. The committee have passed over the idea
Of obtaining cheap transportation by regulation OF
freignts, and may be set down conciusvley that.
+ as between the two alternatives of freight rail-
roads and water lines, the committee will favor
water lines
1t IL estimated by the engineers who have con-
Quoted the surveys that an expenditure OF about
$7,OOo,OO0 would connect the Mississippi
with the lakes, and the required improve
ment OF the Erie Canal to the scale OF magni-
tude corresponding with the contemplated grand
connections would require about $4,000, O00 while
about ST., OOO,0 900 would connect Lake Cnamplain
with deep water on the Hudson, securing a ship
canal capable OF passing vessels or 900 tons.
Senator Window in his collection OF highly i'm
portant statistics, Will present the following
startling facts to show the necessity for cheap in
ternal transportation In this country and the per-
nictous dangers which threaten us from abroad If
something proporlonate to the vast demands OF our
products and other resources is not done in a
short time:-The imports Of wheat from Russia
and Americas into the United Kingdom were from
1860 TO lS64:-From Russia, 47,S76,S09 bushels;
nom the United States, III, 047 126 bushels: from
1868 to 1872, from Russia, ll7,967, O22 BUSH
els: from the United States, IIs. DE- 300
bushels. Thus. from 1860 to 1854 as
compared with 1858 to 1872, an increase OF
7059o 213 bushels during the latter period is shown
over the former in favor OF Russia, While the de.
crease corresp0ndngly to the United States Is
swened to s105s4,746. In regard to cotton the
record shows that in 1860 there were pro-
duced by the United States Lis. 500, COS pounds;
by all other countries 275,O4s,la pounds in
1870, by the United states, 625 500, oSO pounds;
by all other countries, 7S3. 237, 500 pounds
showing falling OF In the production
OF this staple, once so mighty rs to be called
''king,r in the United States OF nearly fifty per
cent and gain to other countries OF
nearly 800 per cent. This Is due to
several causes, but mainly to the high price of food
in the South and to the costly transportation
OF the same from the West to the Southern states,
and to the construction or railroads in India BY
the British government for the express purpose Of
rendering Great Britain Independent OF the United
States. While we have neglected to supply
cheap food to our cotton planters and home
ket for our Western products, England has mean
time guaranteed interest on S4OO 900, 900
pended on railroads in India to these flcli-