The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-04-03
Expansion Of the National Bank Circu-
latiOn Agreed Upon.
REDEMPTORY PROVISIONS REJECTED
Growing Arrogance Of the
West and South.
1--WE CAN RULE WE WILL''
The Admission Of New Mexico appointment
Of the Late Judge Halls Successor.


Of the Late Judge Halls Successor.
The possibility o. ne,o issue OF frconrertfole
paper Iregard 10Th dnazemem and anxietv, and
In my Judgment such an issue ,co,d be a dets'L
1aent and shaDle.-CHARLEs SUMNER.
WASHINGTON, April 2, 1874
The Victory or the Inhntionists In the
senate Yesterday-When . Final Vote
May BE Reached.
In the Senate day the debate on the Financial
bill was at once vigorously resumed, and the third
section, as proposed by Senator Logan, was taken
up. 1t being evident that there was no disposi-
ton among those who have controlled things thus
far to have anything to do with the bil in any
shape or manner, and that the faith to which the
majority seem from the first to have been pledged
was still strong in tnem so Tar as securing relief
by an increase in the circulation General Logan,
with that cunning and snrewdness which he has
displayed throughout this contest came to the re-
lief Of the expansionisfs, and having concluded
that neither free banking the third section OF
the bill could be carried he withdrew 1t.
1t has been evident all along that the
Ncrrimon amendment, increasing the national
banking circulation to $500, 900 900, was the only
fundamentally whereby any increased bank
ing facilities could be secured, as has been
lntimated in these dispatches, and so 1t was at
once brought up by Senator Merrimon as q substi-
tute for the third section and 1t quietly took the
place OF the latter, Senators Sherman and Thur
man, two OF its hitherto strongest opponents
voting for 1t. The measure was adopted by the
significant vote OF 80 to 49, and once more the
forces of the majority were brought shoulder to
shoulder, though division has existed between
Them on almost every issue which has come up
since the adoption OF the amendment striking out
the fourth section OF the Finance Committees
bill Senators Sherman and Thurman yielded be-
cause they congratulated themselves that
the majority had come down from the
prospect OF carrying $24o, OoooOo and were
satisfied with $46.00o,000 increase. This
was the most important event Of the day and
seems to be regarded as a moderate and conserva-
tive course OF action But 1t is evident that this
was the bone OF contention in the way OF a hearty
cooperation and harmony which will be required
SO much in perfecting the bin, and it may now be
said that, with the provisions OF this amendment
tor an increase OF the national banking circulation
observed, the road Is straight for the majority in
the Senate to have anything they want in the way
of settling the Financial bill to their satisfaction
Nothing emanating from Senators Schurz, Conk-
ling, Thurman or Sherman, with a view to giving
shape 10 this bill, Will be treated with favorable
consideration. The remainder OF the day was
taken up with the usual succession OF amendments
quietly brought out one after another with the
apparent impulse and Senatorial gravity which
an emergency in the discussion OF an unripe bill
would ordinarily seem to warrant. They are i'm
med lately taken to heart Tor earnest treatment and
DISPOSAL, and after having been well analysed aud
commented upon, they go through the annealing
process OF the voting and, IN most cases. come out
spoiled by the operation. This was true to-day Of
an n me nv Eralfnrhuy
which Senator Morton opposed because it required
the boarding of gold in the Treasury Department
and would make it scarce in the market. Though
respectful attention was given this effort by the
majority who seem, as they have progressed in
accomplishing the work which they have cut out ,
to be more peacefully inclined toward the OPPOSE
tiOn, 1t was lost by vote of 81 nays to Is yeas
Senator Salisbury added an amendment prohb-
ting the Secretary OF the Treasury from
paying interest except on the excess
over par value or bonds deposited in the
Treasury to secure circulation. This was
lost without recourse to the calling OF the yeas
and nays. Then came an amendment, cred by
senator Davis, providing for the withdrawal OF
$4,000, 900 national bank circulation from the East
and its redistribution in the South and West. The
loss of this amendment by vote OF 81 nays to 20
yeas was the orerunner Of the triumphant carry
ing Of the Merrimon amendment, which was
designated some days since in these dispatches as
the only one among the amendments which was
sure to be ADOPTED by the Senate. In the range OF
discussion to-day much OF importance was deve-
oped, both AS TO the appreciation OF greenbacks,
The relieving OF part o. the demand for goid the
ACCESSIBILITY OF tax on tea and tobacco and the ac-
cumulation OF gold by the government so as to con-
troll the gold market Not the least interesting
o random dissertation on the amount OF
banks, and q disposition was undoubtedly mani.
tested to make the law as generous to them as
possible. Senator Morrill, offered an amendment.
which was nnaly WITHDRAWN, having Tor It's pur-
pose the redemption in greenbacks by the national
banks Of their ISSUE at the Treasury Department.
Senator Thurman offered a very lmportant amend
ment, which looked as If 1t were equitable In more
regards than one, to the effect that after June 80
ls74, ana at subsequent dates thereafter, certain
proportions OF the duties to be paid to the gov
eminent be receivable IN greenbacks in lieu OF
gold, as is now necessary. The day was not with
out It's compensations, and disposition was man.
liested at its close to perfect the bill, and the
sittingout process was urged. But Sem
ator Anthony, in some references to the
observance OF Good Friday made motion
that when the Senate adjourn it do so
until Monday next. This was ruled out OF
order The financial question was voted to lie on
the table, by vote OF % yeas to 81 nays. whereat
senator Morton grew exceedingly wrathy and
protested against this procrastination. The pen-
tcntialy inclined Senators were about to put
their question OF adjournng over TO Monday to a
vote, when. by stroke OF senator Morton's policy
Senator Logan moved that the Senate do now
adjourn, which was changed by unanimous con-
sent to favorable vote for an executive session,
affer which the Senate adjourned.
Probable Passage OF the Pending Fi-
nancial Bill I'm the House by a Small
Majority--A Legislature Controlled by
Bad Blood and Dyspepsia.
The talk on finance in the House goes brayey
on. Tomorrow and Saturday will be devoted to
private bills Monday following is ''everybody's
day." SO d further inHation OF the Congressional
record, with speeches ON finance Will he deferred