The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-04-02

stor contends that it win be carried, then the
Merrlmon amendment VIII be carried as Is
generally conceded can be done. The deter
mnation s to sit the bill out to-mor-
row and perfect It; then IL will be
taken to the Senate from the Committee OF the
| Whole. before whom 1t Is now, technically speak
ing and placed on its passage, when the question
will be the concurrence OF the Senate with the
| amendments offered In the Committee OF the
! Whole. 1t win then be open TO debate; but II is
confidently hoped that perfected bill win be had
by the close OF the week, unless the extraordinary
efforts to postpone action TINS far resorted to shall
be continued The method OF convertibility to be
adopted. as also the question OF fixing the date OF
] specie resumption are involved In so much uncer
tainty that at this time 1t s not possible to FORE
shadow events. strong disposition prevails to
allow the latter proposition 10 remain In abey-
ance, and as to the former one, much difference
Of opinion prevails as to GOLD interest bearing
bonds that no conclusion can be reached yet.
The Speeches the Currency Bill In
the Senate-The Maiden Effort or
! Senator Jones, ofNevada-Ma niEestation
OF Unexpected Ability.
The special feature in the Senate to-day was the
| maiden speech OF Senator Jones, OF Nevada, into
which he glided smoothly from the stays OF ques-
ton which he put to Senator Morton. and which
evoked reply not complimentary to Nevada. The
hitherto silent six million representative OF Honest
Miners Camp" infected with the influence OF the
sharp sparring, went the question Of contrac-
ton and expansion briefly, and the desire, so
natural. OF hearing new speaker, together with
his manifestation of unsupported ability created
quite sensation and he listened to attentively
throughout He exhibited remarkable familiarity
with the statistics OF the industrial, agricultural
and mining classes OF the whole country, and
created great laughter by his ready response to
Senator Morton, when reference was made to
gamblers, that those OF Nevada would not call on
the government to pay their debts. The opponents
OF expansion derived great satisfaction from
senator JONES' speech, especially when he said
that Increased currency, instead OF being the
spade OF the husbandman, was the dice box of the
gambler" He closed by appealing to the Senate
to pause before proceeding to increase the limits
Of the paper currency OF the country. He spoke as
one OF the most pronounced OF 'gold basis" ex-
ponents, and said his plan was that the Treasury
should hold gold and the government, through Con-
gress, declare for specie resumption on July l,
1875, redeeming the legal tender in gold interest
bearing bonds and finally in coin.
The possibility or q ne,o issue of tnconueytf0e
paper regard ,oith 1naazenent and anrtetU and,
IN nav judgment. such issue aoould be det,'i-
n1e1t and q Shdn,e.-CHARLES SUMNER.
The Currency Debate In the House-The
Western Mon Prepared to Initiate Their
Views-Want OF Organization In the
Respective Forces.
The Forty third Congress entered on the fifth
month OF its first session to-day, with a record Of
having accomplished less in so long time
superior to that OF any previous Congress. Both
branches are now engaged in tinkering the finances
of the country, and, with but few exceptions,
nearly all the members are ''more money" men,
and would gladly take $1,000 or $4,000 session tor
their do-nothing policy The House to-day gave
attention to the speeches OF W. w. Phelps, OF
New Jersey, and J. r. Hawley, OF Connect
lieut. both members Of the Committee on Bank
ing and Currency, who closed the debate on the
pending finance bill, so far as the committee is
concerned. Tomorrow prominent western mem
bers are to innate their views. The debate will
extend into next week, and how much longer no
one knows. Mr.. Maynard. chairman OF the Bank
ing and Currency Committee, Is In charge OF the
bill. 1t is said that he Is wholly Indifferent about
its future welfare and when approached by men,
bers to give notice that he would at an early day
move the previous question has replied, "Let the
members talk it OUT This really leaves the bill
without manager; for II the chairman Is indif-
ferent no Gle can predict how many members will
present substitutes or embarrass the measure
with pet amendments. On the other hand,
there r. no recognized leader of the oppos.
ing forces as In the Senate, where the
forces are well disciplined and present
an unbroken front on every VOTE When vote is
reached, the seventh section, providing for or
ganization Of banking associations without clrcu-
lation, and the eighth section authorizing the
issue of 20000 600 OF notes a month, redeemabIe in
gold at the expiration OF two years, will be
stricken out What other razeeing the bill will
receive is not known. AS to the paternity Of the
bill Mr.. Phelps, in mis- speech to-day said 1t was
ton was what would induce HIM to support the
whole bill. For the same reason other members
OF the committee will now oppose It, As already
stated, principle which two-thrds Of the House
are in favor OF will, when the attempt Is made to
embody 1t In a bill, give rise to great variety Of
opinions and amendments, and II with no greater
success than in the Senate, where the members
are almost evenly divided, the day of an accepta-
Bile free banking bill to the majority ma y not be
for weeks hence.
The Public Debt statement-The De-
crease During March.
The following is a reorganization OF the public
debt statement-
DEBT BEARING INTEREST IN COIN.
Bonds at per cent. 663 l50
Bonds ut per cent. o0s, 243 $50
Principal 81, 72s, soe 600
Interest ACKNOWLEDGEMENTS. 29,294 $40
DEBT BEARING INTEREST IN LAWFUL MONEY.
Certificates OF Indebtedness at q per
cent ............................ $67s,0O0
NAVY Pension fund at per cent?. 100000
Principal. Observation-Disclosures. $14,67s 600
Interest Observation-Disclosures. lU75S0
DEBT ON WHICH INTEREST HAS CEASED SINCE MA
TURIrY.
Principal. OBSERVATION-DISCLOSURES. se,s52soO
Interest OBSERVATION-DISCLOSURES. 255,075
DEBT BEARING NO INTEREST
Old demand and legal tender notes.. $aS2, o7e,ss7
Certificates OF deposit. .............. 81, 100000
Fractional currency Observation-Disclosures. 1902 $50
Coin certificates. Observation-Disclosures. 37,045. 900
Principal. $5i9, 944 ACT
Unclaimed interest. ................... 1904
TOTAL DEBT
Principal. 81, 265, $751; s9s
Interest. 2s,676661