The daily Argus. (Rock Island, Ill.) 1873-1877, 1874-06-15
Congress at Sea Again on
the Currency Question.
The House will not agree to
the Compromise Bill,
A New Conference Commit-
tee will make another
Effort.
With Hardly the Ghost of a
Chance of Succeeding.
Bill Introduced Defining
the Qualifications of
Territorial Delegates.
Condition of the Growing
Grain and Tobacco.
Observation-Disclosures in South
ern Illinois.
Deep-Sea Soundings.
Deep-Sea Soundings.
Report OF the Pacific Gable
Exploring Expedition. Il
Il Successful Forger.
Accidents, Crime, Etc, Etc.

|
Maynard made the conference report on
the currency bill He proposed to ex
plain the report, and to specify the changes
in the bill as passed by the House, and the
substitute as reported back from the Con
ference Committee, the two material
points being: First, as to the proportion |
of legal tenders to be cancelled on the issue
of more currency, it being now fixed at
three eights; and, second, as to the time
for the redemption of United States notes
in gold or bonds, which is now fixed for
the first Of January, 1878. These, he
said, were concessions made in opposite
directions.
Mr.. Lawrence asked Maynard whether
he believed it would be practicable to re-
sumo specie payment on the lst OF j anu
ary, 1878.
Mr.. Maynard replied that it would be
practicable to redeem United States notes,
if not in specie, at least in bonds issued
under the act Of 1871.
- Mr.. Lawrence-Of what advantage
would that be to the public?
Mr.. Maynard-It will allow the holders
of legal tender notes to purchase gold In
terest bearing bonds, and then the Seere-
. tary of the Treasury can use these very
notes for the purpose of calling in the out
standing debt, bearing a high rate OF in
terest. The effect of it will be to fund in a
few years the entire public debt at low
rate Of interest.
J, Mr.. Lawrence-Is there not danger that
that would be followed by a rapid contrac-
tion of the currency?
, Mr.. Maynard-Not at all.
- Mr.. Clymer, a member OF the Confer
g ence Committee who did not sign the re
L L, knT SpTnE M
T his dissent He regarded the substitute
as a transparent fraud, intended to allow
the RepucHcan party to escape condemna
ton, and to bridge over the coming elec
/, ton. His automatic financial principle wa
that the only standard of money was gol'
and silver. He would not favor turthe
\ disgrace and misery on the country by VIC
q ting for the conference report.
FL Mr.. Kellogg rose to ask Mr.. C!ymer
81 question, but was met with general erie
Il nf Vote, vote" from both sides OF tn
81 House
81 Mr.. MAYNARD regretted the absence {
81 Mr.. Clymers name from the report o'
!. cause it might seem To give sections
q character to the question of the currenc
b but he hoped that the vote of the hou>
{ would obliterate any such idea.
The House then proceeded to vote c
- the report of the Conference Committe
and it was reiected-yeas, lO8; nays. IA
Mr.. Dawes moved that the subject
sent to a new Conference Committe
Agreed to-yeas, 1913; nays, As.
The House Committee on Territorl
have agreed to report a bill defining t
qualifications of Delegates from the Ter
tories, namely: That the Delegate sh
he 25 wears of age. be citizen of the IL
ritory, and shall have resided seven ye'
in the Territory which he is chosen to rt
AND resent and further, no person guilty
bigamy or polygamy shall be allowed
-1S represent any Territory in Congress. i
49, bill will be presented in the House, al
- should it pass, the Committee on Electi(
~ will have law to guide them IN the dis
LIZ sal of such cases.
WASHINGTON, June 13.-It is belie7
that the new Conference Committee
LADI, TI, the Currency bill-Messrs. Ferry, Wrig
nrem. EN-. and Bayard. of the Senate, and Mes
third Dawes, McCrary, and Marshall, of
III. House-is organized with the purpose
defeating any action this session, Ih
r is little hope now by anybody of secur
, the passage of any kind of measure
will meet with the approval OF the Fr
dent.
ID ! INDIANAPOLIS, Ind, June 13.-The
lowing is synopsis of the leading IN
rn- nation published by the National I
Ell Reporter to day. Reports from cor
pondents dated June indicate se'
drought prevailing iu nearly all portion
VV the country east of the Rocky Mounta
y as far as New England, with more or
In d.. damage to the growing crops in most
tions. Since the date OF these rep
(. there have been very general rains shro
out the country, and it is thought enc
to check all damage on the score
$50 ;'o '0O0 OOo drought.
5000 The condition of the growing whe
$1,000 the State of Illinois, Indiana, Iowa,
1SO ,S0VU0 VVo sas. Missouri, Ohio. and Wisconsin
10000 nearly 3 per cent above a good ave
1OO'00O 10 000 condition In Illinois and Missouri
$1,000 condition of the wheat was very hgt
100000 Iowa per cent above an average, al
,S0oSS the other States below the average.
5000 OATS
SoOOOO The condition of oats in the same
J 800 600 at the dates mentioned was per cen
low good average, Missouri beln
3 5000 only State reporting above an average
$500 HARLEY
,o9SO 90V Estimates as relate to the area
1000 90 this season 10 barley indicate III the
NJ previously mentioned an increase owe
laEn, year of 262 areas, and make -ohe ene