The New York herald., 1874-12-21
GENERAL WASHINGTON DISPATCHES.

THE PARTY FINANCIAL MEAsURE-PRoBABIIITY
OF IT'S PASSAGE THROUGH THE HoUsE-THE
| PRESIDENTS ENDORSEMENT EXPECTED.
| The Finance bill, agreed to yesterday by the
Senate republican caucus, viii ue reported TO the
Senate tomorrow. Its leading features are SUBJ
stantiay as follows:-
First-Free banking to be open to all individuals
and associations, without limitation Of capital.
backs, equal to eighty per cent OF the amount OF
new national bank notes issued, until the green
back circulation shall be reduced 10 5000 COO, 900,
alter which no further reduction OF the green
backs is to take place. 1t is claimed that by this
provision there Will be neither expansion nor
contraction OF the currency, as about twenty per
cent IS now required as bank reserves.
7hird-Tne withdrawal and destruction OF the
fractional currency and the substitution OF silver
coin. the arrangement go into effect as soon as
practlc8ble, under the direction OF tie Secretary
plus money Tor supplying the silver coin, and, II
this is not sufficient, to sell the requisite amount
OF bonds OF the new series to obtain the funds Tor
mat purpose
Notwithstanding the cost for the coinage OF
gold at the several mlnts.
Flh-Tne resumption OF specie payment to
commence on the lst dav OF January. 1879.
The Secretary Is authorized to use the surplus
specie IN the treasury but u tnat is not sufficient
Treasury notes. But this last provision does not,
like the others, go into immediate effect. Tue
legal tender act remains undlsturDed. The Dil
having been agreed to almost unanimously by the
caucus. there being only four members dissenting,
IL WILL II is thought by Senator'S. pass the House OF
Representatives, by respectable majority. In
the approval OF the President as it is in ac-
cordance win his recent recommendation to Con-
Rress.
1t is said that so much OF the fractional currency
Is mutllated and lost-as much as four per cent
annualiy--that silver can take Its place with no
inconvenience TO the public. The government is
able to purchase and coin silver at proft and
can at an early period effect the substitution.
The Dill agreed to BY the caucus IS In accordance
w nff fhn Trna
contained in his annual report he having ex-
pressed doubts o. the expediency o. continuing
e sSaS aaa RSSa
with view TO the resumption ofspecie payne. oa
the manufacture OF large quantity OF sllvef coin TO
take the place OF the fractional notes, begIunfnr
WITH The smallest denomination and gradualIv
estimate 6 the Director OF the Mint shows gain in
the specie anil bullion IN the last two fiscal years
o. about tSS ooo, ooa and ne stock Of specie IN
mated in rease Of coin and buluon IL gratifying
as being one oil the evidences el a gradual re-
cuperauon ot the country from the effects OF a
destructive civil STRIFE, and III ,connection with an
annual production OF about $40 0OO, GOO OF the
precious metals affords encouragement that
STOCK OF coin may Within a reasonable time, and
with favorable legislation, be accumulated to an
extent sufficient to enable the resumption OF
specie payments to be undertaken and maintain ed
Tne Director 0t the Mint, DR.. Llnderman, has been
working IN accord with the Secretary OF the
treasury ,n and ana IS equally hopeful on the resump-
coinage.
AWARDS TO AMERICAN CITIZENS BY THE UNI.
PIRE OF THE MEXICAN CLAIMS COMMISSION,
At recent session OF the United States and
Me xican Claims Commission, the decisions of the
umpire, Sir Edward Thornton, were announced
in five cases as fOlows:-Abraham Walters
Jennings, Laughland Co., Frederick G0ldbeck
Francis DUBOIS and Sanford Kidder, all against
Mexico. were dismissed. Awards IN favor or
claimants were made in the cases or John Belden
Frederick Bronner, Fayette Anderson, ct al smith
Bowen, A. F. Lawrence and Theodore Webster
all against Mexico. The aggregate OF the awards
in favor OF these six citizens OF the United States
amounts to sl25,ooo in gold.
The following cases were dismissed by the Com
missIoners on the ground the claimants were not
American citizens at the date OF the origin or
their respective claims, viz Peter Berg, John
Morr1sey and Alexis Morris, drummers against
Mexico. The commissioners have disagreed In
opinion upon all the remaining on the
American docket, generally known as the "Archi-
bald Gracie' and the "Rebecca Adamsn cases.
They were referred to the umpire for decision to
the number OF ninety-one cases.
CAUCUS OF SOUTHERN REPUBLICANs-THE RACE
TROUBLES
There were about thirty members present at a
caucus OF Southern republicans last night They
appointed committee. conssting OF Maynard, OF
Tennessee; White, OF Alabama Mckee, OF MIssis.
sippi; Platt, OF Virginia, and Whitley, OF Georgia.
to confer with Senate caucus committee and con-
slider legislation Is needed in the interests or
the South. The caucus decided to vote in the
House against holiday recess.
PROPOSED QUICKER TRANSMISSION OF THE Mali,
FROM NEW YORK.
1t has been urged upon the Postmaster General
to have the New York and Philadelphia mail
brought to washington by the limited express
tram, which would ensure the delivery OF mail
matter to members OF Congress and others fully
Two hours sooner than under the present arrange
ment
nDTrTrApU