New-York tribune., 1874-04-01
THE NFLATION MANIA.

MORE VICTORIES IN THE SENATE FOR THE INFLA-
TIoSIsTs-THE FOURTH SECTION OF THE FINANCE
CoMHIITEEs BILL STRICKEN OUT A SPECIE
PAYMENT AMENDMENT voIED DOWN.
IBY TELEGRAPH TO THE TRIRUNE.l
WhsHINGToY March 31.-The infationists again
carried the Senate on every vote taken to-day. The
session opened after the morning hour with debate
upon point Of ORDER sustained Principally by
Messrs. Carpenter and Thurman, the question being
whether, when q substitute has been offered for
bill or any part of bill, and an amendment to the
substitute has also been offered, an amendment to
the part which it is proposed to strike out is in
order The result of the controversy was the adop-
ton of rule allowing this to be done.
The pending amendment was one moved by Mr.
Morton, to strike ont the fourth section Of the FL
nance Committees bill, which provided for retir-
ing greenbacks amounting tn 20 per cent of the
new National bank notes. issued under the provisions
of the bill Under the new rule, Mr.. Morrill, of
Vermont moved to amend the section proposed to
be stricken out by fixing the amount of greenbacks
to be retired at 90 instead of 40 per cent. This
was defeated by a very large majority some OF
the resumptionists even ovotng against 1t. The
question then REQUIRED on Mr. Morton's amendment,
and on this the most important vote OF the day was
taken. The chief objection urged by the imitation
lists to this section was that it would make redemp-
tion of the bank notes difficult AZ the volume
of greenbanks was diminished. The real objection
was that it would prevent very large increase in
the amount of paper money in circulation. Thesec-
tion stricken out by vote of % Yeasto "a Nays
and the only votes worthy of mention, because they
could not have been anticipated, were those OF
Mcssrs. Howe and Window, who voted in the mega
tive
The bill now stood as follows: The amount of
legal tenders had been increased to 800 100000; the
second section of the bill providing for the redemp
tiOn of legal tenders in specie or bonds, and the
fourth section, providing for retiring Teenbacks as
bank notes were issued were stricken out Amend
ments to the bill were pending as follows: One by
Mr.. MeTimon, increasing the bank circulation to
S400,0OO,0O0, the new currency to be given to the
West and South, and substitute for this amend
ment. offered by Mr.. Logan, providing for unre-
strcted, no far amsnt is concerned, free banking
This last amendment, or one similar to 1t,
was defeated about month ago, when moved
10y Mr.. Cameron. and so, when Mr.. Gordon moved to
limit the bank currency to amount sufficient to
give each State and Territory quota equivalent to
that Of Maine, Mr.. Logan agreed to it. The remain
der of the afternoon spent in vain efforts to in
graft upon the bill some amendments that would
tend TO limit the amount of imitation that will take
place. Mr.. FentOn offered an amendment providing
for asserting and clearing houses in the money cen
ters, and the redemption of legal tenders in coin,
which was the in principle as the New-fork
Free Banking law that worked 70 well, but he was
promptly voted down IL was thus again apparent