The New York herald., 1874-06-19

on currency Will snare the fate OF the fgss report
| to the House, The President gave as one OF his
best reasons, in the veto message, Tor not approx.
ing the Currency BILL that the $44 0Oo 600 reserve
was absolutely necessary to the sale management
OF the Treasury. The bill reported to-day aboshes
the reserve and would leave the Secretary Of the
Treasury In the event of financial disaster without
the means OF paying current Indebtedness.
Proposed Canadian Reciprocity Treaty
Before the senate-Tho Kaughnawana
| Canal Extension - Free Trade Provi-
sions.
The President to-day sent to the senate the per.
iected draft OF the proposed reciprocity treaty
| tween the United States and Canada which has
been under consideration for several months BY
Mr. George Brown on the part OF the Dominion,
Dir Edward Thornton on the part OF Great Britain
and Secretary Fish on the part OF the United
states. The proposed treaty having re-
ceived the approval OF the Dominion Minis
try and Great Britain and the State Department,
was respectfully submitted BY the President
to the Senate. 1t was ordered to be
printed and sent to the Coslmittee on Foreign
Relations Senator Chandler, chairman or the
Committee on Commerce, thought 1t ought to be
referred to his committee, but the Senate decided
otherwise. Senator Hamlin, who Is third on the
Committee on Foreign Relations, represented the
committee In the absence Of the chairman Sena-
tor Cameron and Senator Morton, the senior men,
Der, who Is understood to be the strenuous advo.
cate OF the proposed treaty. he considers it
would benefit the North and Northwest. This draft
OF treaty, 80 long deferred. 1t was thought
would have been sent IN two weeks
ogo, but Secretary Fish was extrene ely xac'ing
as to those concessions which he thought likely
could be obtained from the Dominion. In act, like
TWO French notarieS preparing marriage con-
tract between the heir and helress OF two families
OF distinction. process which Balzac has de-
scribed as the perfection Of sharp negotiation,
Messrs. Fish and Brown have been playing this
game or international chess with the zess
OF youth ana the caution OF veterans.
The Canadian Commissioner, whom we must
han as an experienced and accomplished
journalist, has made two secret trips to Ottawa, to
carry points he was disposed to cede, or to obtain
their equivalents These questions are geographic
cal and international The Gut OF Canso, our diplo.
matists have always maintained to be an arm of
the sea, while the British Foreign ONCE have
claimed 1t as bona Jlde branch Of the River st.
Lawrence The kaugnnawana canal they were
disposed to enlarge for the reception of sea-going
vessels, provided our government In the State OF
New York would bind themselves to extend 1t from
Lake Champlain to the hudson. This condition
has been given up by the Dominion, who will make
this magnificent internal improvement anu rely
upon its continuation by the State OF New York az
question OF interest il not Of necessity. The next
great struggle has been about the adm ssion OF our
textile faorics ana our manu- actures OF iron
free OF duty. The coarser description of
some OF these articles will be put upon
the Canadian free hist, as well as all
agricultural Implements OF American manufacture.
Opinion ID divided, but the prepOnderating vote, II
taken tomorrow, would be on the side OF reclproc-
ity Senators Chandler and Hamiin. Cameron and
few Southern Senator's are against It. New
England, excepting Hamhn, is ior 1t to man, and
the Chamber OF Commerce OF Detroit has requested
Senators Chandler and Perry to vote for It. On the
Pacific Coast Senator Hager Is the only doubtful
vote.