The New York herald., 1874-12-16
WASHING cTON.
Another Financial Measure To
Be Launched.
THE REMNANT OF HOPE.
The Pacific Mail Inquiry Delayed
by the Chief Witness.
Senatorial Penance for the Enactment
Of the Gag Law"
FROM OUR REGULAR CORRESPONDENT.

FROM OUR REGULAR CORRESPONDENT.
WASHINGTON, Dec. 15 1874.
a Republican Financial Scheme Matur-
1ng-Mr. Farwell's Banking Bill-Thc
linda atioDtsts Conciliatory.
The republicans are still engaged in the private
preparation OF q currency bill, which shall be
adopted as party measure. Meantime the bill
introduced yesterday by Mr.. Farwe seems to
gain good deal OF lavor, and some OF the Western
tnnationists are beginning TO think that they can
not anord to split the party. in the interest
OF .more greenbacks.n Mr.. Farwell believes that
Senators Logan and Morton VIII not oppose his
measure, and that he can influence other leading
men in Its favor. His bill, therefore, though not
an administration measure, assumes for the mo-
ment considerable Importance. 1t removes all
limitations upon the number and circulation OF
national banks, and provides that bank notes snail
be issued to the extent OF ninety per
cent OF the iult value OF bonos deposited;
that from the 1st OF July next million q month
OF greenDacks snail pe Withdrawn and cancelled,
TO continue until the greenback Is at par with
gold, and that the Secretary may, II necessary,
sell bonds to get funds for retiring the green5acks.
Mr.. Farwell case his bill should pass, means to
Introduce two other measures, one OF which is to
pay now about $7,ooo,Ooo year in taxes on circu-
lation and deposits Another OF them is to ex-
empt from the action OF State usury laws all bank
paper having less than four months to run. 1t
viii be seen that Mr.. Farwen Is not without enter
prise.
The "Gag Law' Plaguing Its Inven-
tors-The Senate Exercised About Its
Proper Interpretation.
The so-called "gag law" like Banquo's ghost,
'wil not down." Yesterday the House referred
It. In haste as the best way OF getting tempo
rariy rid OF It.; to-day the worrying thing turned
up In the Senate. Senator wright introduced q
resolution, THAT the Committee on the Judiciary
be instructed to inquire into the extent and
meaning Of the act Of June %, 1874, entitled. AN
Act conferring Jurisdiction upon the Criminal
Court OF the District OF Columbia, and for other
purposes, and particularly whether under or by
Its provisions persons charged with or indicted
Ior libel or other CRIME IN said District OF Colum-
bia can be brought from a State or other place
within the federal Jurisdiction to said District to
answer therefore, Senator Edmunds approved of
the resolution, and Senator Conkhng Id it
was necessary because the law had been mis-
represented. He asked to have added to 1t the
wOrds:-"And also whether said act has any ap-
plication to prosecutions or indictments ior the
crime OF libel In any case.n Senator Bayard re.
MaA ACu IuOt ~ was uOt tuo GuLl VI OOuRIebb, UuC
Of the courts to declare the meaning Of law and
that such resolution was unusual and almost
without precedent In q few words he showed
that If the law was bad 1t ought to,be repealed:
Il it was obscure IT ought to be amended, 80 as to
Express clearly the meaning and intention OF Con-
gress; but that to consirue the meaning OF the
law was the business Of court, and it was doubt
pA n the Supreme Court II the matter were
brought before It, would pay attention TO the re-
port Of Congressional committee, but would
feel bound to take the law itself its only guide
The resolution, as amended, was adopted. Some
of the Senators as well as members are very sore
about the "Gag law" Tney do not mean to suffer
Its repeal II they can help 1t.
The District OF Columbfa Bill In the
senate-IndiEcrencc and Absence Of
Senators.
The Senate was occupied two hours and half
yesterday and two hours to-day In listening TO the
reading Of the new District OF Columbia bill Very
few Senators, however, took the trouble to remain
during the reading, and Tor an hour or more to-
day MI. Morrill,, OF Maine, who reported the BILL
had the solitary pleasure OF hearing its dreary
pages droned over by the almost exhausted Clerk.
The reading Of the bill was completed this AFTER
noon, and tomorrow 1t will come up Tor general
discussion. Mr.. Morrill,, who Is the father OF the
bill, will have tough time In defending 1t. The
Suffrage feature is dlstasteiul to all the District
people, and will be bitterly assailed. Those who
want Suffrage say that 1t Is mere deusion as the
members OF the Board Of Education, who are
made the only elective officers in the
District, will really have no voice In the
government. Those who oppose suffrage
recognize that this provision was merely
inscribed In the bill as tub to the whale,
but they think It is utterly useless to put the Dis
trtct to the great expense OF q most cumbersome
election machinery, merely for the purpose OF
going through the farce OF an election The select
committee, when the bill was reported, had some
idea OF having II acted on before the holidays.
This hope is now entirely abandoned. ana it win
probably be toward the close OF the session before
action by both houses can be had. There is
growing feeling that 1t will be no harm to have
the present District Commissioners continue to
control Its affairs until next session, when there
will be more time to perfect q measure for tue
permanent government OF the District. II time
presses as the session advances this may be the
result.
The Efforts to Secure . Subsidy for the
Southern TranscOntfnental Railroad.
Colonel Thomas A. Scott Is very active In press
ing his Texas Pacific Subsidy bill. He Is now pay
ing court to the democratic Senators in the hope
OF inducing some Of them to support MS scheme.
1t was said amsng Senators to-day that among the
democrats In the Senate who could be counted on
by Mr.. Scotr are Mr.. Bogy, Of Missouri. and Mr..
Kelly, OF Oregon. Some OF the Southern demo-
cratic Senators are not at all SOUND, in party
point of view, the question OF internal improve
ment and subsidies, and it Is from these that Mr..
Scott expects to gain support. A Senator, how
ever, said tonight that he did not believe that all
Mr.. Scotts eloquence would conquer any demo-
Gratis beyond Messrs Kelly and Bogy, and perhaps
one other, although, as the Senator said. Mr..
Scott had been very lavish in promising to take
mp and lead connecting lines In the South In case
his bill was put through. 1t is said among rallroal
men here that tho recent capture OF the Northern
Central Railroad by Colonel Scott is part OF the
scheme to give him q continuous line from New
York and Philadelphia through the Southern
States to the Pacific coast.