, 1874-03-27


sDeeiat Diauatch to The Chicago Tribune,
WARRINGTON. D. G.. March 26.-Tlo transac-
tons Of Cougl esd to-day welo the most important
OF uny that have occurred for several years. Tho
House showed its hand in fayor Of q Board Of
Commissioners to regulate railroad fareB and
froighta, etc., notwithstanding tho opposition Of
those members who arc supposed to be directly
or indirectly Interested in tho principal lines Of
iailroad; but tho greatest imL ortance attaches
to the proceedings OF the Senate, which concern
aud interest every citlzon. BY agreement, voting
begun nt / o'clock on tho financial measure that
was pending, viz:
THE FINANCE Committees ELL
10 provide for tho redemption and reissue Of
United States notes, and for free banking. This
bill proposed to iix the maximum limit of United
States legat-tendor notes Ut 1882, ,000, 600.
Tho first tost was on an amendment offered by
Mr. schurz, fixing tho limit as ut present,
1856, 600, 900. This waa defeated by vote OF
IL to 40-moro than two against one In oppo-
Bitiou.
seuasor Wright, OF Iowa, offered
SUBSTITUTE
for the first eoction Of the Committees bill,
which substitute proved to bo very adroitly
drawn in tho interest OF imitation. It provided
thut tho maximum amount OF United Htatea
notes in circulation should bo S400,000000.
Morrill,, Of Vermont, wanted to amend this
by adding that the circu atlon should r6ma!n at
that amount until reduced as provided for i'll
other sections Of the bill.
Up to this time thore had been but little Of an
exciting Or very interesting Character, inside from
the REJECTION Of Schnrzd contraction amond-
ment. Sherman, Oonklng; Scuurz. Morton, Lo-
gan, mud Thurman had kept quiet, closoly watcll-
ing tho proceedings. Tho resul Of the vote on
tho proposition to reduce tho proposed limit 70
tho circulation, though not unexpected, was
much moro one-sidcd than anybody expected It
would TO, and Senator ConkI,ng, being somewhat
disappointed, aud finding himself Que Of d very
small minority, waH IN no hunor to sit quietly
by aud see porpetratcd that which he conceived
to DO
4 THICK or THE INFLAT1oN1Brs.
lilo and Sherman Aeld llnt Wr,g4t's proposition
would virtually repeal af tho restricting olauboH
OF the act Of lSG4 aud revive the old 85o 000, 900
reYerye.
Morton said thoro could not possibly DO any
connection between tho two laws.
Conklng persists that 1t was q remarkable
effort, aud q design to loodwink tho Senate aud
mora polnteday than before Indicated his bollof
that II was deliberate trick.
!, Morton aud Logan indignantly denied that
thore WaH any doop or hidden meaning IN the
Wright amendment, but for all that they would
not allow tl!e language to be modified, 4 id voted
down horltll's amendment by b major..y.
THE 1SFLAT1oNlsTB
found tholr exact asrongth to be, Is tho Senate
thon ntoou, 81 against 20; aud. with tllis safo
working majority, thoy aoomed to be prepared to
OF the Hou o OF Representations to 10 over
whelmiugly in favor Of ,nAation, aud the sena-
tors entertaining corresponding views tuok cour-
age from tue tsot that whatever they might do
IN the Senate would III all probability receive the
concurrence OF the House. 4 motion to
suasEITuyE THE woRp "L1M1r" ron "AMouxyn
ws@ detarmlnsdy opposed by Wright, Morton,