, 1874-12-25

PROSPECTS or THE MEASURE IN THE MOUbE,
Tashtngo" tD<c 22> Correspondence af Tie Sto Fork
Tribune,
Tho determination Of tho scnato Republican
caucus, backed by tho seuato Finance Committee,
to report now Finance bill embracing FREQ
ba1lduE, tho return to specie payments in
1870, aud ho rotiroment Of legal-tenders uutil
tho amount In circulation shall not exceed $780,
000.000, has croatcd n great deal Of comment
here to-day anopg tho members Of tho
House, and tho general opinion ia
tint tho moasuro will pass tho House
il it comes to that body with tho approval OF tho
Senate. Many Of tho most promiuot4t members.
who decline to DO quoted by name in connection
with tho subject expross tho most positive faith
that tho bill will pass tho 11ouHe, either III tho
terms Of tho souato or with such slight modlGca-
ton that tile chnngo would not bo noticed. Ono
very Strong objection made to tho bill by tho
hnrd-,nonoy mon il that whiio it provides for tho
redemption Of tho groonbucas, it docs not order
their cancellation and destruction. It il foared
by somo TINT this will leave the door opon
for some future Sccrotary Of tho Yroosnry to use
this retlccInel currency as u 'rosoryo," as 6ec-
rotariea boutwell, nnd Richardson did tho 9i4,-
0n9, $3.50 Inst ycnr mud year before. At the Bumo
tilno such menus Mr.. plIops. OF New Jsrsey and
others who think nj ho docs, boloyo ll,ut tho
puHsase Of this bill would bo great gain FOR
tho canEo Of honest currency. Il tho illlatius,-
ists vote for it, thoy admit two or three prop
ohtionH that they lavo never boon willing to
at,n;t before. Ono Of these IL that it is DO
sirabIo md possible to get back to specio pay
ments, aud te other IL tlat tho country will not
10 To ruin IL tho volume Of Etceubneiss s re-
ttuceu. The friends OF tic bill say thut IL nB-
take to suppose That it VII bo IN any degree q
20 per cont Of bunk notes issned will DO moro
than used II, by the per cent which, untor the
prosout law, las to bc kept in tho Treasury for
redemption purposes, nnd tho roaorvo TINT it il
that tho experience OF last year has been TINT
thoro ia no immediate danger Of tho ulutipIlca-
ton OF bauls IN tlis country.
Mr.. saylor, Of Ohio, when asked today what
hc thought Of the bill answered that hi hnew
nothing Of aud cared little about 1t. So far as
lo WAS concerned, lo was in. favor OF lottlsg
everything alono in ita prcsont condition; ho
thought business would adjust itself better
under tho present system. lie did not know
HhetAer no WIZ III favor Of freo ba.,king, Bpeeio
When the subject came 10 Il vote he should
decide according to bis idoas then. 1lo Ind no
conyictious Oh finance that could not bo changed
by facts and arguments.
didato for tho SpeaAc!ship. says ho is in doubt
aH to whether tue present cangreaA will do any
thing with the currency. Tlloro will bo n great
amount Of work Oh the appropriation hills, anA
tue LiIll0 IL blloTC. 1lG III lnf0f
FREQ banking, doslar for dollar. liu don't believe
In percentages II bank deposits 600, let
it nayo tho uHo OF tho cntisu amount, mud not
pnrool it out at 30 per ceut, or 80 por cout. lie
says he fayors free banking system, aud that
tho retiring Of grconbaoks aud rotusn to specie
payments III the only way to bring about general
prosperity aud confidence. uo thought there
would 10 I. long debate on tho question in tho
Houso, and that tho sano old speeches would ho
made.
Mr. Dock, OF kentucky. another Democrat,
wl.cn asked Il lo thought hs Bi1u VI tho llouso
would support tho Scnnto caucus bill, said lo
Hoped 10 Heaven it would nut. For his rnrt, ha
would yuto against 1T a Thousand !itnos. uo was
seriously opposed to 1t for many YeaaunH. lilo
was, however, III favor Of honoat tnouoy, and
houcst money was money TINT would bo taken by
tho Government thnt inBucd it, uo WAS III fnyor
OF specie payments, but he beloved thai Il start
| for khat polut ought to be on n different DasB.
11o thought tue Unitod States Government onglt
| tu furnish its own nlonoy without discount for
| its own dobtH, and no, therefore, fayoroti, M
| tho Hnuee already know, tho project that tho
! gr.eubacks should bo good enough to pay fos
customs dues. This, ho said. MAS tho only way
! llo said lo strongly favored FREQ banking, md
tint In this respect o antl tho President agrect
| tor tho iirst tinlo on public questions
| Mr.. hobcr!ss OF Now York, also molnber ot
| tho Ways md Ntennu Committee, Haa lo lnd not
examined tho now bill. and would nat like to be
quoted, but ut tho first busl, llo thought to hill
did not amount to much. II l,o lad lis WY. he
thUusAt llo would Withdraw S2. 200 600 OF groon.
into a j or u ~ per cent bond. lIo thought
thoy could 10 placed. IIo was IN favor OF spocIo
payments III 1870 and freq banking.
Mr. Wheolor Ut Now York, who like Alr. lob
ers, IL one Of the fofonuH! Of tho lenders of thu
llopubcana IN lis State, said to-day that 10 ia1
not studied llle points o'nbrAeod in tho bill, blli
that it waB q great advance Oh tho Wosto1n uonei'
| nlent hcrotoforo oxprchaoa.
Alr. pAokor, Of pennHylyana,. g nopuhlican, 4
bankor mud miolaito. sRll Tint OF cuuras
lIa fasoru4 tho bil for, from what he know Of it.
IL was his exnct anondn,0nt to tho Bunural inanct
! hill uf laht HcBaion, which contained fres
lanling. tho retirement Of greenbauks
auI roturn to speulo,payments IN 1870