New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-04-28
WASHINGTON.
FINANCIAL PROJECTS
THE SENATE FINANCE BILL TO BE CALLED UP To-
DAY-TALK OF COMPROMISE MEASURE.


fbY TELEGRAPH THE TRIBUSEi
WASHINGTON, April 27-The friends of the Senate
Finance bin will Tomorrow move to take it up and
vote upon it, and hope to do so without debate Tho
Republican friends of the bill wish 90 avoid all dis
cussion that might tend to disturb the harmony of
the party, but intend TO show to the conn
try, by their votes, that their convictions
OF the merits OF the bill have not changed. The
opponents of the Senate bin are still talking freely
of a compromise measure upon which they hope both
parties can unite. The main features now sug-
gested are free banking, with the retirement Of
100000 of greenbacks for every $4.OO0O0O OF bank
notes seued abolishin on circulation; fixing
the amount of greenbacks at S3s2 100000 the amount
not to be reduced below that, except IN accordance
with the provisions Of the bill; and providing that
on and after January !, 1873, greenbacks
may be converted into 4. per cent thirty-year
bond, the greenbacks thus converted to be again
paid out in the purchase OF the Five
twenty bonds II is understood that Senator Nor
ton is DESTROYS of having measure agreed upon
which will meet the demands of the West and South
and the substantial support of all parties, ana
it is believed that the above is his plan. There VIII
not be any manifesto issued by the friends OF the
bill. rumored.
The reopening of the currency question led to the
introduction of fresh lot of bills financial sub
jects i'll the House to-day. Among these were bills
revivIng the income tax and fixing il at five per
cent, with an exemption of 5000; repeating the
law taxing State banks, az to permit the revival
of the old State banking SYSTEM authorizing the
payment of 20 per cent of customs dues in green
backs and number protesting in their titles to
facilitate a return to specie payments.
The Senate Committee on Finance, at special
meeting to-day had under consideration financial
measure which 1t is proposed to mold into Dill 10
be reported to the Senate within few days. The
new bill, it is understood, will contain many of the
features of that last reported by the same Commit
tee, with more definite provisions for free banking,
coupled with redemption. 1t has been arranged that
several of the leading inatonist Senators shall con-
suit with the Committee at it's meeting tomorrow,
in the hope that conflicting views may be harmon
lied. The House Currency bill will not probably be
reported by the Senate Finance Committee.
THE PRINTING OF BONDS AND CURRENCY.
AN EXAMINATION BEGUN BY THE BANKING AND CUR
RENCY COMMITTEE INTO THE ALLEGED EXTRAVA-
CANOE IN THE PRINTING BUREAU.
IBY TELEGRAPH TO THE TRIBUsR.l
WARRINGTON, April 27.-At the session OF the
Committee on Banking and Currency this morning,
the question of the economy of the method adopted
bv the Secretary of the Treasury for printing the
bonds and currency was under discussion. Several
weeks ago questions were propounded by the Com
mttee TO the chief Of the Bureau of Engraving ana
Printing. Answers to these were filed on FRIDAY
last. 1t was stated that an examination OF the
answers would show that majority OF these ques-
tions had not been answered at all that dscrepan-
cios appeared in various statements; and that an
examination of the Treasury employees was neces-
present, objected to any OF the en-
ployes of the Treasury Department being
summoned before the Committee, or ques-
toned except by written heterogeneous prepared by
the Committee and sent to the Secretary OF the
Treasury. He offered to have the statement cor
rected and the questions fully answered If returned
to the department
Mr. Hubbard, on behalf of the bank-nOte COM
panies. said that if allowed to examine the en-
ployes of the Bureau of Engraving and Printing, he
believed he could show that the work done III the
Treasury Department cost twice as much as that
done outside and that this difference amounted to
more than $4,000 year. Mr.. Hubbard suggested
the appointment of subcommittee, to hold It's
sessions in the Treasury Department, where the
books for reference were more accessible, and the
employees could be more conveniently questioned
To this course Mr. Sawyer strenuously objected, and
the decision reserved by the Committee. MI
Hubbard was then directed TO submit any evidence
upon the question of the validity of the contract
made by the Treasury Department with the Column
bian Bank Note Company of Washington The OIL
GERS of that company had been informed of the hear
ing, but as they not present, their counsel MI
Stanton was asked by Mr.. Hubbard if any stock had
been transferred to him to be held IN trust lie SAID
that 900 shares of the par value of 800 EACH were SO
transferred in trust for s. b. Smith to be delivered
on his obtaining contract for the printing and en-
craving of fractional currency and treasury notes.
heretofore done by the New-York companies. In re-
ply to questions by the Committee, Mr. stanton SAID
that Mr. Smith was lobbyist with great influence;
that year ago he applied to him TO obtain such a
contract but he declined to undertake it, as IT could