The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-02-17

duties ovcrpnid. The republican and democratic
members from New York and Brooklyn have
TONIGHT agreed to unite In IN effort to bring the
House to consideration OF the legal tender ques-
ton to- morrow. The united voice OF the CONNER
cia CENTRE which is unusual, 1t is thought will
have great weight in settling this matter without
further delay.
The statas OF the Forty-four Million
Reserve to be Determined First and
Appropriations Maize Afterward.
At the close Of the session OF the House to-day
General CARRIED, chairman OF the Committee on
Appropriations. reported the Legislative and Ju-
dicial Appropriation bill, and moved that 1t be
made the special order for Wednesday next, de.
bate to continue to the exclusion OF all other bust
ness until disposed OF. At this juncture, Mr.
Woodford, of New York, asked the Speaker II the
motion prevailed would IL prevent the cOnsldera-
ton OF the status OF the forty -four million legal
tender reserve the greater portion OF which is
now in circulation. The speaker replied that it
would, whereupOn Mr.. WOodlOrd, to test the
sense Of the House, appealed to the members to
vote down the motion OF Mr.. Garneld. and, to the
surprise of every one, the chairman OF the Appro-
priation Committee met with defeat his only
solsce being an order TO have the bill printed.
The action OF the House indicates a readiness to
dispose Of the legal sender question, causing
much rejoicing among the New York members,
who are anxious that the status OF the so-called
reserve may be speedlly settled, and the mercan-
tile and moneyed interests spared further agita-
ton on the uncertainty OF the financial admins
tration OF the Treasury Department
Review Of the Financial Forces-Re-
organization OF the Innationists and
Fresh Tacttcs-AOw They VIII Win
the Battle.
The persistency with which the opposition has
been kept up by Senator Sherman and those who
have agreed with him, as evidenced IN the debate
against the in1atlOnists, led by Senator Morton,
has continued without relaxation up to the present
moment. There Is little. II any, change affecting
the strength OF the united forces OF the est and
South; but viewing the determined Uis-d-UiS which
has been steadily preserved as growing more
threatening. consultation was had by the infia-
tl0nsts to-day, and 1t was decided to change front
by the selection OF Senator Cameron, with the
moral influence Of the great State OF Pennsylvania
behind HIM, to make diversion by Offering a bill
for free banking, in lieu Of increase OF the cur
rency, which satisfies the innatonists and removes
the direct question OF expansion, also the dlrec
ton OF the opposition by la Or those
Senators who are In favor OF contraction and early
specie resumption. While this may be regarded
and has looked as II 1t were sectional, 1t assumes
that attitude or classification merely because the
East has more concentrated or accumulated capl-
tai than the West or South and is In measure in
dependent OF relief Besides, the capitalists oil the
East 90 not wish this nAanclal measure OF relief
to be Afforded because they do not want any addi-
tiOnal capital brought III competition with them,
or to press them out Of those channels Of ready
demand which they have so easily probably found
heretofore. This has engendered an antagonism
hatu
sections, and is strengthened on the side or the
Eastern accumulators by the aid OF a few national
bank men in the Senate, all OF whom are with one
voice opposed to an increase OF the currency, while
the West and South are for imitation. which
policy they will carry in one form or another
under the mastery ability and long experience OF
Senator Sherman as financial doctor. The fight
has nominaily been to keep the nations credit
within bounds and clear OF the dangers OF financial
wreck, While 1t Is palpable that this too great
anxiety comes from either the feeling OF doubt as
to the result of expansion, or IN Difference to the
behests Of accumulated capital, which is respected
by ali the rich men In the Senate. But the pOpu-
lar advocates, who are near the people In feeling
and more In accord with the Masses whose
system they study with more attention than those
OF the bankers and nnanciers OF toe day, advocate
most strenuously and without hesitancy the plan
of adding to the present volume OF the currency,
which, present .rticatlOns, they Will carry by
o small majority in the senate.
The Petition of the Illinois Legislature
for an Increase OF the Volume Of the
Currency.
The petition of members Of the Illinois Legisa-
lure, citizens OF Chicago and others, presented in
the Senate by Senator Logan to-day, represents
that real and personal property during the last
decade has increased in value more than SO per
cent, and the value or manufactured products
more than 124 per cent; and since June 80, 1868,
the currency circulation has been contracted about
$3.50, OOO, 900. Therefore they, representing the
vast agricultural manufacturing and commercial
interests OF the West and South, believe the
of the currency to be not sufficient for the
business OF the country, and also believe that con.
traction is in the interest OF Eastern capital to the
detrlment OF western and Southern industry, and
means paralyzed business. eXtOrtionate interest
and 10 " wages. They, therefore, earnestly request
such increase OF the currency as The public neces-
sites require.
Fuxaher Exposure OF Treasury Manage
ment Threatened.
If the House resume the financial discussion to-
morrow Fernando Wood viii endeavor to get the
door, not to reply to Dawes speech Of Thursday
last, but 10 add more damaging facts than MIR.
Dawesxhought 1t prudent to produce as a repub
hcan. Mir. Beck of Kentucky, Will also take occa
sion to arraign Mr.. Dawes for concealing the
truth. The political aspect Of the debate threatens
to be more tedious tnan that on the salary grab.
The Appropriation Bill Reported to
the HOuse-The Retrcnchment Thus
Far Accomplished.
The Committee on Appropriations. having COM
pleted their abOrs on the Legislative, Executive
and Judicial Appropriation bill, reported it to the
House to-day. The bill. though finished was not
fully drawn up and amended to meet the latest
measures OF the committee in the line
OF retrenchment. These are expected to be
added so as to have the bill ready lot the
printer tomorrow. The reductions recommended
am ,unt IN the aggregate to thr ee Millions which Is
considered very satisfactory termination of the
Lob al cnrnmittee u fhia rs