New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-04-08

appear whether Gen. Butler shared tine piuhuei
improperly or whether any part of the Sl0''ooo
found its way into the pockets of Revenue OF Treas
ury officers.
TIE CURRENCY DEBATE IN THE HOUSE
SPEECHES FOR AND AGAINST INFLATIoN-A COLO
GUY REGARDING THE SUPREME COURT APPOINT
MENTs IN 1S70--THE COMPARATIVE STRENGTH
or THE SENATE AND HOUSE Bills.
rBY TELEGRAPH TO TRIBUSE.l
WASHINGTON. April 7.-Throughout the debate
on the Currency bill in the House, it has been n
noticeable circumstance that whenever member
has made speech against imitation, he has had
plenty of attentive listeners, while the cheap
money! men have talked to empty seats, or to men,
bers who busted themselves with writing or
talking, with the single exception OF MIR. but
Ter, who always gets a hearing, because
he always amuses the House. Tho infa-
tionsts appear to have felt from the hrst
that the facts and arguments were all against ther
theories and that there was nothing to be learned
by listening to the tedious repetitions OF exploded
fallacies which their own champions thought 1t ne
cessary to get off for home consumption, Having
made up their minds to vote for watering the cur
rency at all hazards, they seem to have feared
that their resolution would be shaken rather
than strengthened by listening to the attempts
Mr. Cox spoke in favor of resumption, everybody
listened, but when Mr.. Orth of Indiana followed
with speech in behalf of the prairie system OF
finance, only six members could be seen paying at
tention to what he said 1t was no wonder, for
it was the same old speech over again which has
been made by every man who has spoken on that
side of the question. Indeed. the infationists have
but one speech among them. All they can do is to
90 on repeating it, with slight variations.
Just before the adjournment a couoquy between
Messrs. Eldredge and Hoar about Supreme Court de-
cslOns in legal tender cases. enlvened the closing
proceedings 1t was the appendix to the passage be-
tween Messrs. Eldredge. HOar, and Hawley on the
same subject which occurred last week. MI. Hawley,
on that OCCASION said that he could support no man
who was wrong on the currency question. when
Mr. Eldredge asked him how he couldssupport
Grant who had reorganized the Supreme Court to
reverse its decision that the Legal-Tender act was
unconstitutional. Thereupon, L. r. Hoar denounced
Mr.. Eldredge's statement as Islander, that had
often been squarely put down, and SAID that the
two new judges were nominated before inc
first legal-tender decision was made, and
when it was reported in Washington that the decls-
ion was going to be the other way, Mr.. Eldredgc
has been busying herself since in looking up the his
tory of the appointments and decision, and to-day
that he did not want rest under the imputaion of
being slanderer. and had got the facts to sustain
his statement. He had found, he said in Wash
ington paper of Feb. s. 1870 the announcement of
the first legaltender decision, and also OF
Inc nomination of Judges Strong and
Bradley, which must, therefore, have been
made on the previous day. But. in The
NEw-YoRK TRIBUNE of Feb. l. a week before,
synopsis of the decision was given in dispatch
from Washington. 1t was therefore known, he
argued, that the Court would decide the legal ten
der act to DO unconstitutional before the appoint
ments of the two new Judges were made.
Judge Hoar said in reply that he had positive
knowledge that tho appointments were Determined
on before il was known what the decision would be.
He was not willing to admit The TRIBUNEs predlc-
ton of the decision as evidence that it known
week in advance and said that very likely other pa
pers had other rumors concerning It, Mr..
Eldredge was not convinced by Mr.. Hoars
statement that there was intention ION the part
of the Administration TO pack courts so as to secure
reversal of the decision. He declared that 1t was
known all oyer the country some time before
Justices Strong and Bradley were appointed what
the decision would be- and generally believed that
they had been appointed expressly to reverse 1t.
It's expected that the House viii reach vote on
the Currency bill Tomorrow Mr.. Maynard is in
structed by his Committee to move the previous
question upon it after offering three amendments,
agreed to by the Committee. These are as follows
FIRST The insertion OF clause 10 permit all banks to
receive notes to the of 20 cent Of the face Of
their bonds present banks having capital OF over
$4,000 are allowed circulation OF only ~ per cent and
those with q capital Of 100000 OF only 70 per
cent
Second, Including other subTreasur!es beside the one
in New York in the redemption section.
Third: Striking out the section authorizing National
banks without circulation.
An effort will be made in the House to defeat the
previous question, in order to give an opportunity to
move the adoption of the Senate bill as a substitute
The inhatonsts generally prefer the Senate BILL be-
cause it has nothing in it looking to specie pay
ments- There are some, however, who favor
the House bill on account of its free
banking feature. They are pledged to do
all they can to break down the bank monopoly
and the Senate bill does not work In this direction
but ON the contrary enarges and strengthens the
monopoly. The Tesumptlonists and honest currency
advocates believe the House bill to be decidedly the
least of the two evils. They feel con-
6dent that, although it removes all
| limitations from the volume of the bank
currency the amount of initiation that will actually
take place under it will be less than under the
Senate bill They think capital will not be likely
| to seek investment In new banks if banking is
| made absolutely free, if the monopoly
feature is preserved and the limit Of
the circulation enlarged to embrace an additional
| S46OO0OOO. Besides, they hope that the provision
for the gradual redemption of greenbacks contained
in the House bill will he entering wedge to open
the way to specie payments. Whether the votes of
the free banking infatiOnists, with those of the
| Conservatives will make majority remains to be
seen The result of the vote cannot be predicted
| with any degree OF certainty.