The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1874-02-06
THE ouRRENoY.Q QUESTION:
The Contest between Resumptionists
and Infationists.

l -FSss@t ~ Wv ANs 4tAuhuN y
| sis WAmEaToN, February 2. :
The friends Of the antsgonistic meas
ures looking TO initiation and resumption
have been making careful canvass Of
the Senate within the past few days, with
q view 70 Ascertainipg what the vote will
probably be when Il Is reached. There
suit has been that both sides have been
astonlshed to find how equally the Senate
Is divided on this question. The initiation.
lists, who will make the vote on the
amendment proposed by Mr.. Ferry, Of
Michigan, q test, claim that they have q
majority Of four, should the Senate be
full when the vote Is taken; but in order
TO obtain this majority they have to count
several Senators In the affirmative who do
not like the indefinite form OF Mr., Ferry's
amendment, and would prefer 10 have
1t state explicitly the amount Of additional
currency It iS proposed TO issue and
whether II shall be put out by the Nat
ional banks or by the Government. For
instance, several Western Senators believe
that more paper money ID needed, but are
hardly ready 10 commit Themselves to an
indefinite scheme OF imitation. 1.-THE res
olution limited the amount Of new cur
rency 10 fifty or seyenty.flve millions,
they would vote for II without hesitation,
but they desire that the resolution shall
fix some limit. Several other Senators,
also from the West, areln iavof 6t The Is:
sue Of more money, but they desire 70 see
i put. out. In the shape OF National bank
bills, which they hope will gradually dis
place the greenbacks altogether. Others
still, wish TO see the increase In the shape
Of Treasury Lotes.
The ReSumptionisls are equally san.
guine moi. only ot Defeating MIR. Ferry,s
amendment, but also Of passinga rcsolu.
ton looking to speedy return TO specie
payments. This party in the Senate is
not, however, any more united as 10 the
method that should be adopted than the
other. Some Rillfavor Mr.. Bsysrd'ssub
stitute, which, however, is not likely 10
pass, and 1t Is difficult TO predict upon
which form OF the resolution the Anti
Intlationists will unite their strength.
Senators all agree that no prediction as
10 what disposition the Senate will make
OF this question would now be safe, even
II the character of each Senator's vote
was known, because 1t rarely happens
that 0 full vote Is cast In the Senate on
any question, and the division on this is
so close that a few absentees might
change the result. Well-informed look.
ers'on from the outside believe that mel.
Their Q measure looking TO resumption nor
one ofinfation WILDE passed but think
that alter both have been defeated some
measure like that proposed In the House
to legallze the issue OF the $44 900 900 d
Cancelled greenbacks that Secretary Rich.
ardson is so rapidly diSposing oil will be
agreed to by small majority, not ex-
ceediDg six or seven In a. full Senate.
None Of the introconvertibillty bond
schemes have any chance of passing the
Senate.
The Hon, Amasa Walker made an in.
teresting argument before the Banking
and Currency Committee Today, to show
the evils of an irredeemable and depre-
ciated paper currency. He presented
some interesting statistics OF the prices Of
the leading articles Of Western produce
now and before the war, to support his
position that the Western farmers are the
chiei sufferers from our vicious currency
system. They get prices for every
thing they have to sell, according to these
statistics, than they did in 1860, while by
reason OF the deprecated currency they
are obliged to pay very much higher
prices for all the articles which they buy.
Instead Of their condition being improved
by imitation, Mr.. Walker said 1t would be |
made worse, the only remedy for their
troubles beng, in his opinion, a return to
specie payments.