The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-06-05
WASHING TON.
The Presidents Position Regarding
the Finances Unchanged.
Partial Agreement Of the Conference Commit.
tee on the Currency.
THE WORK ON the APPROPRIATIONS.

Little Hope OF = Financial Measure
Which VIII ne Approved by the Presi-
dent-His Review OF the Useless Work
Already Done.
Those who are anxious for the adoption OF some
financial measure during the present session, and
who represent the different shades Of opinion.
have sought frequent consultations with the Presi
dent on the subject In the hope OF eiciting from
him some encouragement looking toward COM
promise. Representative Farwell, OF Illinois, q
moderate innationist. and who Is member OF the
Commercial Committee, to-day called upon the
President and had lengthy interview with him,
In which he reviewed the action Of the two
houses OF Congress on the finance meas
ures Of the session. and stated what
In his opinion would be the ulrimatum
OF . compromise on the part of tnnationsts. Mr..
Farrell before the conclusion OF his somewhat
pressing observations, discovered that the Pres
dent was more firmly convinced OF the strength OF
his position on the finances assumed IN his veto
Message than he was when he wrote It, The Presi-
dent said that the proposition Tor thirtyseven and
One-haf or even forty per cent retirement OF legal
tenders would be no compromise at ALL He said
that In the nrst place the Senate Committee on
Finance reported bill which he would have &C
cepted as q compromise, but in the Sem
ate it wss SO materially changed in the
interests OF innation that 1t was most
Objectionable. In this shape it went
to the House, and in the meantime the latter
body passed q bill which was more Objectionable
shan that which had emanated from the Senate.
rs 1t had no feature Of resumption nor OF retire
ment of greenbacks in 1t, though 1t did provide
for free banking The practical erect OF this bill
was the repeal OF the provisions OF the Senate
bill, except In few lines. This BILL he remarked,
went to the Senate. and in the Committee OF
Finance substitute was reported, In which pro-
vision was inserted for the redemotion Of legal
tenders, which was to begin in 1877, and one
which provided that as the national bank currency
was being issued there should be q retirement OF
nifty per cent OF legal tenders, until the ouJstand-
Ing circulation was reduced TO $3OO,OoooOO THIS,
he said, was again acceptable as COM
promise; but when this was reported
TO the Senate that body struck out fifty per cent
and inserted twenty-five per cent, extended the
time OF redemption to 1875 ana made legal tenders
redeemable In four and One-half per cent bonds In
stead Of five per cent bonds. In this shape he said
1t reached the House, and there falling to receive
satisfactory action went to the committee OF con-
ference. the action Of that committee does not
promise solution which the President would be
willing to accept It is not expected that the in
atonists will recede sufficiently from the position
they have taken, and the President expressed
himself determined not to give his approval to
already stated by him in his Message. The Prest-
dent observes that far as the Executive il con.
cerned, there will be no use IN passing bill such
as has been indicated by the opinions of the mo-
jority Of the two houses. it'd
Rumored Compromise Reached I'm the
Conference Committee ON Finance-
Dissentlent Contractionists.
1t Is rumored that the committee OF conference
on the finances are approaching basis OF agree
ment. though what it Is has not been dvulged
They were in session nearly three hours to-day and
adjourned to meet tomorrow at eleven O'Clock.
The MISUNDERSTANDING Morton ana Merrimon
and Congressman Farwell ana Maynard-are agreed
upon iree banking, retirement OF thirty I'VE per
cen: OF greenbacks and the releasing OF the re-
serves. Senator Sherman, who knows 1t would be
useless to agree to any such proposition, and Con-
gresham Clymer are hard money men and refuse
to concur Unless the report of the committee is
unanimous 1t would be of no avail, and the CON-
mittee will then report and ask to be discharged.
Proceedings OF the House-Thc Appro-
priation for the Life Saving Service
National Quarantine.
In the House to-day two hours were devoted to
commercial matters. The Life Saving bin came
up, extending It's BENEFITS to the Pacific ocean ana
the lakes. The estimate is Tor $4,000 The bill
was passed. The Quarantine bill, which Mr.. Cox
described some time ago as one which will destroy
$4,000, 600 worth OF New York property invested for
health, and which, by federal supervision here,
under the bill OF Mr.. Bromberg, OF Mobile, would
give all our commerce into the hands OF three doc
tors at Washington, came up to-day. and there was
q renewal OF the struggle to defeat It, 1t was de-
Tended on the ground that the South was at the
mercy OF cholera and yellow fever and the local
laws were insufficient It was contended
that the laws OF New York and other Northern
hoof
much skirmishng, Mr.. Cox rendered an amend
ment that nothing in the bill should apply to the
State or municipal laws; that they should remain.
The bill thus altered was passed, nearly all the
members consenting. The Surgeon General OF the
Army and Navy and the Supervising Surgeon OF
the Revenue Marine Service, constitute the Board
which, under the operations OF the law as it
passed the House, will perform the duties OF San-
tary Supervisors OF every port Of entry.
The Progress Made ON the Various APP
preparation Bills.
The Naval Appropriation bill was signed by both
01icers OF the Senate and House to-day, and goes
TO the President for approval. This is the second
Appropriation bill finally disposed OF, the re-
mainder OF such bills--twelve In number-being
in the hands OF conference committees or pending
IN the Senate. The Sundry Civil Appropriation
bill reported to-day and will be acted upon In
a lew days. The House concurred to-day In the
Senate amendment to the Military Academy APP.
preparation bill The conference committee on
the Legislative Appropriation bill. after three
hours hard labor to-day adjourned till to-mor.
row, having made but very little progress
Secretary Bristow Enters Upon His
Duties. 44a
The new Secretary or the Treasury entered
npon his duties this morning, and concluded his
nrst days labor with the gratifying assurance
rom Assistant Secretary sawyer that he would
promptly tender his resignation. The cause OF
this 1t ia understood, was an intlmation from the
President that it would be better for Mr.. Sawyer
to vacate the ofhce. Who Mr.. Sawyers successor
Will be Is not known, Mr. Bristow now repre-
sents the South and Assistant Secretary Hartley
Is from Name New England 1t Is said, has no
claim upon the Treasury Department, and the