New-York tribune., 1874-02-11
THE NATIONAL FINANCES.
WHAT ACTION CONGRESS WILL PROBABLY TAKE
IIIE INIIATIONIsIs losing GROUNp.

WHAT ACTION CONGRESS WILL PROBABLY TAXI
TIE INITATONIsTs losing GROUND.
lFROMA REGULAR CORRESPONDENT OF THE TuBUNEl
WASHINGTON, Feb 1O.-PeOple who hope for some
wise action from Congress in relation to the National
finances, and who complain at the apparent Gispo-
sitiOn to daily with the subject, touching 1t only IN
Saturday debates in the House or in wilton speeches
in the Senate, aud coming to 10 practical conclu-
siOns, should understand chat delay is dangerous
only TO the in6ationists. financial bill passed in
April or May will unquesiona5ly be a more safe and
beneficial measure than if it had been passed in
January. Both Houses of Congress, nut more
especially the House of representatives axe under
going course of education on financial questions
which, if it does not produce valuable results ~
actual legislation, WILL it is now pretty safe tc rrs-
dict, avert the IuinOus consequence hat "sr.
threatened when the session OF uc.. us cd' ~
tion comes i'll part from tho discussions an, az
had, but far more from the articles IN the news
papers, the expressions of the best informed Of the
people, the criticisms on the numerous bills intro
duced and from conversations between the members,
which are gradually diliusDg the knowledge of the
subject possessed by the few among the mass OF tic
unntormed and the half-lnformcd. lime is there
fore working for the conservatives and people who
want to see something done toward Resumption,
at least to have some assurance that there will be
no further issues of irredeemable paper currency
need feel no alarm if the dO-nothng policy is
tinued for weeks longer. The intlatiOnists
losing ground daily and as long as this is the case
the conservatives feel that it IS wise to wait before
seeking definite action on any of the numerous cur
rency measures pending. 4 few important points
in relation to future action may be regarded
settled. These are:
First That further Issue Of greenbac5 viii he
thorzed beyond tue amount Of the sOcalod mat
sill i'm
imitation to the extent of putting this out win not bo
conceded without hard struggle.
Second: That Mr. Kclley's ntro-couvcrtblo Bond bin
will not be passed, anything akin TO H.
THIRD That free banking win be auhc.izad I'M
less coupled with provision for future resumption
The chief question concerning the currency winch
is sti III doubt, is whether an additional isue Of
National banl circulation under the provisions Of
the present law will be authorized, and If so, to
what extent the new issue win go. No one appears
to think that an amount greater than fifty millions
can possibly be voted, and current opinion fixes the
sum at twenty-five millions if any at all is allowed,
If, however the inhaionists in combination with
conservatives, who desire to obtain more bank
ing facilities for their localities succeed in getting
the larger sum, the consequences viii not be az
serious might be apprehended because experience
has shown that it will take considerable time tCr
new banks to be organized in the West and South,
and the issue of the additional circulation would
not probably be completed for two three yars SO
there would be no sudden expansion.