The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-04-06
CONGRESSIONAL NOTES.

The Currency Question and the Tariff
The Proposition to Pay a Portion OF
the Duties ON Imports In Greenbacks
New and and Perplexing Difficulty
Between the Two Houses.
WASHINGTON, April 2, 1874
proposition for the reduction OF the duties on
imports, introduced to-day in the Senate as an
amendment to the pending bill providing for an
imitation OF the currency, Introduces a new and
perplexing difficulty in the settlement OF the cur
rency question. Mr.. Thurman, of Ohio, offered the
amendment that, for the first year from the pas.
sage OF this act one-twentieth OF the
duties on imports shall be received IN
greenbachs, and in the next year one-tenth,
and in the third year Oneffth But
this was too tender-ioOted an approach to our
present nigh tarl to satisfy Mr.. Bogy, OF Missouri,
who moved that from and after the 10th June, 1874.
one-fourth Of the duties on imports shall be paya-
BILE in greenbacks, and that next year one-half OF
these duties shall be payable in the same legal
tenders. He was not frightened by the $3.50 600 900
OF gold which the Treasury required every year TO
meet the interest the national debt; for in re-
ceiving one-fourth or one-half these Custom House
duties In greenbacks, they would be so far appre
cated as to make 1t profitable for the Treasury to
buy the gold balance required to meet the IN terest
on the public debt.
THE SCHEME NOT DEAD YET.
This proposition OF MIR. Bogy however, was too
startling to be thought OF just by the Senate,
and even the modest amendment OF Mr.. Thurman,
In consideration OF the exclusive authority OF the
House to originate bills to raise revenue, and OF
the exclusive power claimed by that body to orgi-
nate bills Affecting the revenue, was 10 to 20
jected Upon the plea that II this revenue amend
ment was inserted IL the Currency bill in the
Senate the bill would be laid on the table in the
House, as involving an invasion by the Senate OF
the exclusive constitutional rights OF the House,
many senators in favor OF the proposition vo ted
againsti But the proposition Is not by this process
to be got out OF the way IL viii come up again In
the House, aud by the majority OF the House It
may De MADE, In some shape condition OF q con-
cnrrence with the Senate upon the passage OF the
bill.
ARGUMENTS FOR THE PROPOSITION.
IL Is commended by the friends OF this new idea
OF making portion OF the duties on imports pay
able In greenbacks, that the measure, II adopted,
Will operate to the advantage OF the government
and the good OF the country in every way. IL will.
In reducing the duties on imports operate to the
general good oil the masses OF the people reduc-
ing the bounties which they have now to pay to
manufacturing monopolies, under the principle OF
wDat Is called protection to home industry. IL
will Keep our greenbacks so near the gold standard
That IL VIII cost the governments very little TO buy
the gold balance which may be needed to pay the
interest on the national debt Nay IL Is contended
In making our custom House duties one-haf
payable IN greenDacks, the revenues from
imports will be increased TO the extent of twenty
or thirty per cent upon gold valuation, as COM
ending Both oil June next IL is commended that the
government has no right to make one currency for
Itself and another for the people; that the most
unjust and the most odlous leainxe NJ Qnx nIese4t