New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-05-22
CURRENT TOPICS AT THE CAPITAL.
MIR TOsTERs SPEECH on THE sANBORN CON
TRACTS,


WARRINGTON Thursday, May q. 1874.
The Sanborn contract report came up again this
morning, and proposition was made by Judge
Poland for a further postponement, on account OF
the continued illness of Gen. Butler. MIR. Foster
said that he had assurances from the very highest
authority that the member from the Essex district
did not desire any further delay, and thereupon pro-
ceeded to read his speech. The operations OF San
born and the dscreditable conduct of the Treasury
officials in aiding him to plumber the Treasury, had
been so fully discussed in the newspapers that MI.
Foster could not interest the House in discussion
of the subject He succeeded in getting good
hearing however. His speech was clear, impartial,
and exhaustive review of the testimony In the case
coupled with some very plain talk on the action OF
Messrs. Richardson, Sawyer, and Banieid In the
matter, which will not be agreeable reading Tor
those gentlemen, nor for the President who appears
determined to keep them in Office AT the close oil
the speech. Mr. Beck offered his amendment to the
bill, prohibiting Senators and Representatives III
Congress from acting as attorneys or counsel ior
persons against whom suits are brought LOT Violation
of the revenue laws or for any lnforner OF CUSTOM
house employee, or claimant OF drawbacks Tor taxes
or customs dues. The bill then went over 10 give
place to the New-Mexico BILL
THE SENATE CURRENCY BILL.
The Senate Currency bill was reported to the
House to-day, with the amendments agreed upon by
the Banking and Currency Committee. Besides
those already published, amendments adopted by
the Committee this morning strike out the section
requiring the banks to retain their egal-tender re-
serves in their own vaults; provide that the green
books to be retired, as new bank notes are issued
shall be Cancelled and carried to the account OF the
sinking fund; and changes the ninth section SO as
to make greenbacks convertible into coin or bonds
at par, after July /, 1873 the Government TO nave
the option of redeeming them in coin or bonds ana
the holder 10 be permitted to take either the hNe
four and half, or four per cent bonds, now autnoI
lied by law. Tine provisions of the bill, as amended
may be concisely summarized as follows:
First Free banking; second No reserves to secure
circulation required, and instead the banks are TO
keep redemption fund OF five per- cent of their respec
tive Calculations deposit IN the Treasury for the re-
dempton OF their notes third: Withdrawal OF to III
greenbacKs for every slOo OF additional bank currency
issued until the volume Of legal tenders is reduced 10
100000 600, beginning with the present outstanding
amount $3s2 600 900 fourth Conversion OF greenpack
into bonds bearing A. or per cent interest AFTER July
1875 and the OF such converted notes Tor tue
purchase and redemption OF the Public Debt.
The bill will probably be brought up for action on
Saturday.
THE IMPROVEMENT OF THE MOUTH OF THE
MISSISSIPPI
The Senate Committee on Transportation reported
to-day III favor of the Eads plan of improving the
mouth of the Mississippi River by means OF Jettes.
Quoting largely from the report OF the Board Vi
Engineers who recently examined the plans OF MAJOR
Howell for the construction OF the Fort 81 rhihp
Canal the Committee conclude that further surveys
borings and other examinations and measurements
are required before Congress would be warranted IN
making appropriation to begin the work. In the
mean time the Committee hold that the question
whether it will be possible to open OF the natural
mouths Of the river may be settled with no expense
to the Government unless the attempt is successful
The Committee recommend, therefore, that capt.
Eads be allowed to make a trial, and that, III the
mean time an appropriation be made for further
surveys and examinations the route OF the cana,
Those who believe that the canal alone Will fnrnish
the relief desired will oppose the passage OF tns
BILL believing that it will result in the failure OF me
jetty system and 50 only postpone the day wheh te
immense commerce of the Mississippi Valley VIII De
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