New-York tribune., 1874-04-15

Mr. Butler lost no time III moving TO go 10 the
Sneakers table to reach the Senate bill. Only a
feeble resistance made by the Conservatives,
and in half an hour all the bills and Executive COM
munlCatious living on top of the measure had been
disposed of As soon the bill was read a number
of points of order were leyeled at it by George T.
Hoar ana Gen. Garfield. for the purpose of having
it sent TO the Committee of the Whole under the
rule which requires that all bills increasing the
debt imposing taxes, requiring an expenditure OF
money must first be discussed there. The Speaker
said that # the Senate could properly originate the
bill under the constitutional provision that all
revenue bills should originate in the House. most of
the poiuts were not good. Mr.. Garfield then raised
the question that the bill should be returned TO
the Senate as passed in contravention of the prvi
leees Of the House. This the Speaker did not de-
eide but put IT to vote in the form of motion, and
1t was lost, by Yeas Sc. Nays 49, The strongest
point made by Mr.. Hoar, and afterward revived by
Mr. Woodford was, that the bin required an appro-
priation of money to pript the new bank notes. and
must therefore, go to the Committee of the Whole
The Speaker wisely overruled this, knowing that if
he did not the infatioust majority would promptly
oveITule him. The bill then passed, Yeas 40,
Nays lC2 The negative vote was made up of the
Conservatives and about a Of anti-bank iDfla-
tOnists. chiefly Democrats.
Controller KDoxs figures, making ont that the
section relating to the reserves will actually dimD
isb the amount of bank currency circulation had
not got abroad in the House few of the infation-
ists had heard of them, but were disposed to
regard the report as weak invention of the
oOntTactIODIsts.
AsENsATION CREATED IN THE SENATE BY CONTROL
LER KSoX's PIGUREs-PROBABILITY THAT THE
PRESIDENT WILL SIGN THE SENATE BILL.
lBI TELEGRAPH TO THE TRIBUKE.l
WASHINGTON. April 1.-THE discovery of the
Controller Of the Currency, that the Senate Fnan-
csl bi If it becomes law and is strictly enforced
viii result in a contraction of the paper currency of
the country, caused q great stir among the int1a-
toDIss IN the Senate this morning. Hardly had the
journal been read when there was a caucus of the
leaders Messrs. Logan and Ferry, at Mr. Mortons
seat and after an earnest consultation Of few
minutes the first two took their hats and went to-
ward the House presumably for the purpose Of con-
sultng with the imitation leaders there. All day
the Controllers figures were discussed 10 the lob
bies.of the Senate Mr. Logan denied that the bill
would result in contraction, aud hinted that the
whole thing was q plot of the contractionists
70 scare the cheap money" men and defeat
their bill. Mr.. Morton thought it strange
that the Controller was 50 long III making his dis
coyery and said that it must be admitted that II
appeared though, if the law as enacted by the
Senate should be rgdly enforced it might result IN
withdrawing temporarily some millions from the
circulation but he added that the provisions OF the
act relating 10 reserves not always lived up TO.
One thing was certain, the withdrawal Of portion
OF the reserves from deposit in New-YOrk and the
retention Of it IN the vaults of the country banks
and those of the redemption cities would strengthen
the banks, and the effect would be good Some of
the Democratic expansionists had, without making
careful calculations. suspected that the Senate bill
with the Scott amendment would not provide for
30 large increase of the volume of the
currency as was supposed by the majority of