New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-04-02
XLIIID CONGRESS-lsT SESSION.

REGULAR REPORT OF PROCEEDINGS.
TUX FINANCIAL BILL STILL PENDING IN THE SENATE
A NOTABLE SPEECH IN TIE HOUSE BY Mr.
PHELPS AGAINST INFIATIoN-No ACTION YET
TAKEN on IHE BILL
WASHINGTON, Tuesday. April I, 1874
SENATE.
Mr.. CONKLING (Rcp., n. W presented sun
dry petitions Of the East Sidc West Side and Norm
side Associations OF New-Yok asking increased appro
prations for the removal OF Instructions at He ua'e
East River Referred 10 the Committee Oh Commerce
Mr. WEST tRep, La presented u memorial OF oiu1ens
OF Alexandria In that State. for the construction OF
brcakwater ~ the Red river that city Referred to
Mir CONKIIXG G{@n'. n W presented resolutions Of
the BROOKLYN Common Council ptOteSnag against any
alienation hl the General Government TO any person OF
49, To- -, ~ waiI hcut in thar ctv Referred TO
the Committee on Naval Adairs
THE FINANCIAL BILL.
The senate then resumed the consideration OF the bill
20 provide FOR the redemption aud reissue Of United
States notes and for free banking pending question
being On the ameulaent Of Mr. Gordon to that of Mr.
Logan. winch provides for the organization Of National
Banking Associations in any state or Territory having
-sS proportion OF National Bank ciFcuIauon than !ie
state % Maine the issue of such currency, on the
haSis Of popUaton amt wealth uniil edcn state ana
Territory mas amount Of such bank circulation equal
10 tia; ~ tNr stare Of Maine.
Mr. DAVIS tDtm. W VA moved 10 amend the
INe Mac tScyrof . Ponnsylyanil" Mr. Davis said,
according o. csleulation which he had made, the ad
dt0nal circulation under III Glrdon's amendment
would bt aboU; s35oON1jO, but # his 0lr. Davis 81
amendment Was adopted the additional circulation
would be s1lCo'OO)O Based upOn Newly ork. as pro
ulscd NV tire Crrmttee. II would be about $2iCOnOOl
Mr GNERiAN (ilcp. Ono SAID that upon the basis
a. Mtluc trs additional circUl1tOn would be about
$1,000: upoa d. hasi, OF Ne8York sllO0OOOOO; and
on the basis Pennsylvania it would be over sllO,-
C11,JOJ.
Nj GORDON Dem, Gal accepted the amendment
M. MORTON Ctcp. IndJ said the people wanted
luI-e ilDr,y. aGC the country wOud come TO specie
PAYMENT when j; cOu,d There use 10 talk about
saHc.' pa' MCAt nos. lie had noticed in leading
.trf-I'ra paper % yesterday that imitation meant war
ta't laEaou would re resisted by force OF arms sIch
statements were lot more unreasonable IMAM slnllar
ones IA" 10 on TIE floor ~ the Senate.
TOO amendment OF Mr. Logan having been offered as q
Substitute 10! the third spcCn OF the Committee DllI,
SAD ac having accepted the amendment Of Mr. Gordon
aui also tho amendment OF Mr. Davis which provides
th1 the National bank circulation in these states ana
Territories having less than their proportion shali ne
upon the basis uf population ani wealth untl each state
ana Territory lgs amount or such bank circulation
equal tha Pcunsyyua, leaving the section as re-
ported by 10, Committee, with the exception OF suost-
tGtIug PcIusy yaula iOr New-IOfk, was rejected by
Yeas % - Mas o. follows Republicans in roman,
Democrats ID itai. ana Liberal Republicans IN small
CtHfdsl.