The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1874-02-21
From Washington.
NATIONAL FINANCE.

: on the financial question, indicating the
relative strength of the intlatiOnists and the
advocates of specie payment. The measure
) before the senate was Sherman's bill for the
Withdrawal of S25,0C0,000 of circulation from
the New England national banks and It's
redistribution among the banks OF the south
and west TO this an amendment had been
} offered not to withdraw any circulation from
the east, but to increase the bank cicuation
SAG, 900 900, and give the increase to the south
and west; and Mr.. Scott offered another
amendment to provide at the same time for
the redemption of the national bank currency
, in specie or interest bearing bonds OF the
: L. S. The vote was on the latter amendment,
which was opposed IN body by the imitation
} lists and supported by the specie payists. TIE
: former had 80 votes and the latter %, with III
senators pared off and five not voting. The
inhationists claim that the five non-votcrs are
on their side 50 that they have majority OF
} seven in the senate; but it must be borne III
; mind that this majority is divided on the
Question whether the initiation shall consist OF
all, the ultimate decision is uncertain and for
want engagement things may be left in Stattt
quo,
During Wednesday S debate Senators Shurz
and Logan had u rather spicy tilt. Shurz
= irritated Logan by reading from the late
money articles of the Chicago papers to show
that money was easy in such great centres as
Chicago, and could be borrowed at reasonable
rates Of interest Logan replied that such
statements were made in the Chicago Tribune
for political effect and purpose, and were
about as well founded as the statement Of the
same paper that money was easy there last
fall during the panic. He challenged Shurz
to show any other authority; when the
latter produced the Chicago Times, and
read more explicit information on the
local trade and finances there. Logan
then declared that the Times was for resump-
ton, and could not be depended upon; but
he did not believe the Iater-Oceon would say
so. Shurz then read Il slip to the same effect,
but much less in detail, from that paper and,
greatly to the mcrrment of the senate, fol-
lowed up his remarks by declaring that all
the great papers and every body else who had
sense in the country were against initiation
Logan became very irate and stentorian at
tins and said he supposed the senator meant
that all others were fools, though he Uogan)
would admit that he was not so great in his
own estimation as the senator from Missouri
Shurz quickly retorted, with keen irony,
that no one was greater in the estimation of
She country than the senator from Illinois, an
illusion which greatly amused the galleries.
KELIy's scHEAE.
Representative Kelly, the great PENNSYLVANIA
financer, has for several years been wet-nurs-
ing a currency plan in the house the point of
which is, TO issue an indefinite amount of
government bonds bearing 3G5 per cent.
interest and to be convertible at the will of the
holder into greenbacks or rice CerSu. The
scheme has been ANONYMOUSLY kicked out
Of several committee rooms, and on Morday
finally got before the house. Burchard
showed the scheme simply meant everlasting
suspension Of specie payment and a debased
currency. Ilawley asked how there could be
too little currency when there was currency
balance now in New York greater than was
ever before known. Davis wanted to know
how the convertible bond scheme could help
us in pane, when every body would natur
ally run and hide their currency in bonds.
Kelly was overwhelmed by the accumulation
of riddles and gave it up.
! \ VICTORY FOR BUTLER
There was big swearing among the Massa-
chusetts delegation on Monday when the
President sent to the senate the name of w.
\. Simmons as collector Of Boston in place OF
Russell, who had held the Office for the last s
years There was no earthly objection to
Russell and no one dreamed of his removal
while Simmons was the particular pet, toady
and iactotum of Ben Butler, despised by every
honest republican in Massachusetts, Theap-
pointment, which was purely Buffers own
work, -hows the potency of his influence with
Grant and the Impossibllity of defeating its
confirmation without quarrel with the cx-
ecutivc. So the indignant dclelegation have
|, no choice but 20 grin and bear it.
, LOUISIANA.
!, Carpenter has kept quiet during the week
about his Louisiana bill, but declares the
,, senate must vote on it. There are but three
WAYS out of the Louisiana middle; first, by
maintaining the Kellogg government, which
J all admit to be hdeous fraud; or second,
the withdrawal Of federal support from
Kellogg, which may lead to a civil broil; or
third a new election under the supervision Of
army officers. Carpenter maintains that the
J last is the only rational solution of the diff
Guilty, and the republican party must adopt it
!, or break down under The odum of the Kellogg
fraud.
THE INDUSTRIOUS MOTH.
II The discussion of the army bill in the house
Il. f.-.Ns