The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-04-03
Expansion Of the National Bank Circu-
lation Agreed Upon.
REDEMPTORY PROVISIONS REJECTED
Growing Arrogance of the
West and South.
GIVE CAN RULE WE WILL''
The Admission Of New MexicO-.-Ap appointment
Of the Late Judge Halls Successor.

NhO 0umi0Siuu VI NOV PPVihtAAOhs
Of the Late Judge Halls Successor.
The possibility o. a ne,o issue or tnconuertible
paper Iregard toith anazenaent and anrietv and,
In mn jssdgnent such an issue could be q deut-
Daent and a shaDae.-CHARLEs SUMNER
WASHINGTON, April q 1874
The Victory OF the Inflationists In the
senate Neutrality-suspicious. n Final Vote
May BE Reached.
In the Senate o-day the debate on the Financial
bill was at once vigorously resumed, and the third
section, as proposed by Senator Logan, was taken
up. 1t being evident that there was no DISPOSE
ton among those who have controlled things thus
lar to have anything to do with the bill, in any
shape or manner, and that the faith to which the
majority seem from the first to have been pledged
was still strong in them so lar as securing relief
by an increase in the circulation, General Logan,
with that cunning and shrewdness which he has
displayed throughout this contest, came to the re-
lief OF the expanstonists, and having concluded
that neither free banking the third section Of
the bill could be carried, he withdrew it.
1t has been evident all along that the
Ncrrimon amendment, increasing the national
banking circulation to $500, 0O0, 000 was the only
instrumentahty whereby any increased bank
ing facilities could be secured, as has been
intimated in these Dispatches and so it was at
once brought up by Senator Merrmon as suosti-
tute for the third section and II quietly took the
place Of the latter, Senators Sherman and Thur
man, two OF its hitherto strongest opponents,
voting for It, The measure was adopted by the
significant vote OF 81 To 10, ana once more the
forces of the majority were brought shoulder to
shoulder, though division has existed between
Them on almost every issue which has come up
since the adoption OF the amendment striking out
the fourth section OF the Finance Committees
bill. Senators Sherman and Thurman yielded be-
cause they congratulated themselves that
the majority had come down from the
prospect OF carrying s24o, 100000 and were
satisfied with $4e.OO0,0OO increase. This
was the most important event of the day and
seems to be regarded as moderate and conserva-
tive course OF action But 1t Is evident that this
was the bone OF contention in the way OF hearty
cooperation and harmony which will be required
SO much in perecting the bin, and 1t may now be
said that, with the provisions OF this amendment
tor an increase OF the national banking circulation
Observed the road is straight for the majority IN
the Senate to have anything they want in the way
OF settling the Financial bill to their satisfaction.
Nothing emanating from senator's Schurz Conk-
ling, Thurman or Sherman, with view to giving
shape to this bill, VIII be treated with favorable
consideration. The remainder OF the day was
taken up with the usual succession of amendments
quietly brought out one after another with the
apparent impulse and Senatorial gravity which
an emergency in the discussion OF an unripe bill
would ordinarily seem to warrant. They are i'm
med lately taken to heart earnest treatment and
DISPOSAL, ana alter having been well analysed and
commented upon, they go through the annealing
process OF the voting, and, most cases, out
spoiled by the operation. This was true to-day OF
an amendment offered by Senator Frelinghuysen,
which Senator Morton opposed because 1t required
the boarding OF gold in tie Treasury Department
aud would make 1t scarce in the market. Though
respectful attention was given this effort by the
majority, who seem, as they have progressed in
accomplishing the work which they have cut out,
to be more peacefully inclined toward the OPPOSE
tion, it was lost by vote of 81 nays to Is yeas.
Senator Salisbury added an amendment prOhib-
ting the Secretary of the Treasury from
paying interest except on the excess
over par value OF bonds deposited in the
Treasury to secure circulation. This was
lost without recourse to the calling OF the yeas
and nays Then came an amendment one red by
senator Davis, providing for the withdrawal OF
$4,000 900 national bank circulation rom the East
and its redistribution in the South and West The
loss OF this amendment by vote OF 81 nays to 90
yeas was the iorerunner of the triumphant carry
ing OF the Merrimon amendment, which was
designated some days since in these dispatches as
the only one among the amendments which was
sure to be ADOPTED by the Senate. In the range OF
discussion to-day much OF importance was devel-
oped, both as TO the appreciation OF greenbacks,
The relieving OF part o. the demand for gold, the
ACCESSIBILITY Of tax tea and tobacco and the
cumuation OF gold by the government so as to con-
troll the gold market. Not the least interesting
was random dissertation On the amount Of
reserve which ought to be kept by the national
hanks, and disposition was undoubtedly mani
tested to make the law as generous to them as
possible. Senator Morrill, offered an amendment,
which was finally withdrawn, having for its pur-
pose the redemption in greenbacks by the national
banks Of their issue, at the Treasury Department.
Senator Thurman offered q very important amend
ment, which looked as If 1T were equitable in more
regards than one, to the effect that alter June 3d.
1874, ana at subsequent dates thereafter certain
proportions OF the duties to be paid to the gov
eminent be receivable IN greenbacks in lieu OF
gold, as is now necessary. The day was not with
out It's compensations, and disposition was man.
I1estcd at its close to perfect The BILL and the
sitting-out process was urged. But Sen
aior Anthony, in some references to the
observance OF Good Friday made a motion
that when the Senate adjourn it do so
until Monday next. This was ruled out OF
order. The financial question was voted to lie on
the table, by vote of % yeas to 81 nays. whereat
Senator Morton grew exceedingly wrathy and
protested against this procrastination. The peni-
tentially inclined Senators were about TO put
their question o! adjournng over TO Monday to q
vote, when by a stroke OF Senator Morton's policy,
Senator Logan moved that the Senate do now
adjourn, which was changed by unanimous con-
sent to favorable vote for an executive session,
after which the Senate adjourned.
Probable Passage of the Pending FL
nancial Bill I'm the House by Small
Majority-A Legislature Controlled by
bad Blood and Dyspepsia.
The talk on finance in the House goes bravely
on Tomorrow and Saturday win be devoted to
private bills. Monday following is '.evcrybody's
day." So further imitation OF the Congressional
record, with IN nm wi M dol rad