Ottumwa weekly courier. (Ottumwa, Wapello County, Iowa) 1872-1899, 1874-05-14

1848.
TEE Senate Finance Committee by .
. vote Of four to three have agreed t.
reconsider the Incorporation into tn,
House bill Of tho following rrovis
ions: Tho maximum greenback circu
lation TO b eSS2, ,O00, 600; new nationa
bank notes authorized to be issued
without limit, provided that for eact
II, GOO, 600 Of such new notes issued
there shall be 100000 in grsenbackl
retired, until the total greenback cir,
cuIation shall have reached $500, COO.
600. Specie payment IL to be resumed
on January 1st, 1877, by the redemp'
ton Of 1iye per cent. gold bearing
interest bonds This bill IL now re.
ported 10 the Senate. II II our under.
standing that Senators Morton, Logan,
Ferry, and others will not support
this bill, but viii stand for an Increase
Of the currency without restrictions.
We do not believe that day should
be hxed for resumption, at present, al
least. We go believe for the reason
that in our opinion, It is not within
the knowledge of anybody At this
time to tell when that event can best
occur, and therefore we had better not
attempt to name the time. Again, We
would have resumption brought about
by the natural effect or the measures
adopted to that end, and mot BY put
ting upa scare.crow to frighten the
country by naming the time, and 20
keep the people In { kind Of fever
heat about It as the time fixed APP
proaches. Resumption should come
without . shock to the country,
and we believe It can 30 come, By the
force and effect Of . policy supported
By statute to that end, which shall se-
cure to us % . nation, the retention
among NJ Of the largest amount Of
specie, and the retaining IN the nation:
81 Treasury and In the vaults OF our
banks 40 much as may be OF the pre-
cious metals, until We have sufficient
to say that we are ready to resume
without fear or shock. Tho true
course 10 to 90 arrange our financial
policy % to inevitably drift the coun.
try silently and - imperceptabiy a.
possibls towards resumption. We
hope, finally, in the fnrtheS considera-
tien OF this question by Congress, q
commendsble spirit OF compromise
Will prevail, so that each side will
yield something to the other, and an
amicable result be reached.
This II especially desirable, for the
reason that the partisans to either side,
to good degree, arc from different
sections Of the country, thus giving IL
an unpleasant aspect. The great d.
versity or views on finance, It seems
10 Dc. clearly authorizes the conclusisn
that infalibility IL hard to find, and
that. therefore, there must be very
many errors upon the subject advocat-
ed. Hence the moro sensible appears
the ground taken by those who would
favor compromise bill. 81
The public debt statement for April
shows, by comparison with former
ones, that during the present fiscal
year, viz; since the first Of July last,
ths public debt has actually increased
el,906, ,563.45. The reduction, howev-
Of, for the month of April, was ST.
965, ,45l.4S. We may calculate there
fore, very safely at the close of the
present month, the decrease for May
will be SO large that it viii show = de-
crease of tho public debt during the
fiscal year, with June to 60 Oh.
The increase of tho debt occurred
during the panic, mostly in the latter
half Of tho year 1878, reaching it's
greatest increase In the month OF De-
ccmber last. II IL shown further, that
though We have liquidated the public
debt for year past as we did the pre-
ceding one, yet there is the very fiat
tering showing that since We entered
upon 1874, the debt has been more
rapidly reduced than it was during
the same time in 1873. The following
are the figures:
REDUCTION OF THE PUBLIC DEBT.
January. 81, ,845,2 ,2lL76 g. 4O6, ,243.18
Feb'y ..... 2,59OO47.45 5,277,8SO.77
March :. ;. 2,189, ,33S.46 l.644,O58.97
April. 80. 1856, ,451.43 2,247, ASSOC
Net d'cres q, 500, O,O49.1O $s,783, 3,1S2.l6
+lncrease. ~
The aggregate interest bearing bebt
ID $l,736, ,llA750. The com in the
Treasury ct the close OF April was
e91 90, ,952O5. or this sum, however,
$Sa, zoo, 900 belongs to private deposi-
toes. ss
TIE Arkansas embroglio WAKES hot
tor, and the high handed measures
practiced call for Federal intartsr-
ence. II ID fearful responsibility fol
any man to take upon himself 70 embroil
: whole State into state Of practical
insurrectien, even TO right himself,
when wronged by being kept out ol
IN Office to which he was In fact elect.
cd by the people. II il also fearfnlly
bold and revolutionary move 70 srresl
tho highest judicial sliioers of 6tats
10 prevent them from holding court t.
pronounce upon = case properly
brought before them.
Hive were. citizen Of Arkansaa
We think We should feel that It weuli
vLE n -