The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1874-12-21
WASHINGTON.
SUDDEN AND sBRIoUs ILLNRss OF SENATOR
MORTON,

hOAlONs
WASHINGTON, December Ex-senator
Morton was prostrated 10 day by a severe
and sudden illness, but Is not regarded as
In dangerous condition, although rumors
have been flying about the streets that he
Is very low aud not expected to recover.
STATE DINNER TO KING KALAKAUA.
The President and Mrs. Grant will give
a State dinner to King Kalakaua Tuesday
next.
The dinner is 10 be attended by the King
and suite, the members OF the Cabinet, Sir
Edward Thornton and Mrs. Thornton,
Chief Justice Waite, Senator Cameron,
Representative Crth and q few others.
Press Of official duties compel General
Sherman 10 leave for st. Louis tonight
and he will not be able TO attend.
THE CADETsuIP INVESTIGATION.
The Committee to investigate the
charges against Representative Stowell,
OF selling csdetship, has adjourned till
Monday, In consequence ol the failure Of
George W. Graham to appear. Graham,
II is alleged, started the charges, and the
SullullLlCG kuluh uS 10 ululuks
THE COMING FINANCE BILL.
The finance bill agreed to yesterday by
the Senate Republican caucus will be re-
ported TO the Senate tomorrow. Its
leading features are substantially as fol-
lows:
l. Free banking, open TO all individ-
uals and associations, without Limitation OF
capital.
g. Returning OF an amount OF green
backs equal to eighty per cent Of the
amount OF new national notes issued till
the greenbsck circulation shall be re-
duced to 5000 600, after which no further
reduction OF grCenbAcks is 10 take place.
1t is claimed that by this provision
there will be neither expansion nor con-
traction Of the currency, as about twenty
per cent is now required as bank reserves.
3. The withdrawal and destruction of
fractional currency and substitution of
silver coin, arrangement TO go into effect
as soon as practicable under the direction
Of the Secretary Of the Treasury, who is
authorized to use the surplus money for
supplying silver coin, and ii this is not
sufficient, TO sell requisite amount OF
bonds OF the new series to obtain funds
Ior that purpose.
4. Reducing the cost for the coinage
C! gold at several mints.
5. Resumption Of specie payments to
commence on the first day OF January
1879. The Secretary is authorized TO use
the surplus specie in the Treasury, but il
that is not sufficient to sell bonds in order
to obtain gold to pay the Treasury notes.
But this last provision does not like
Others go into immediate effect.
The Legal Tender act remains undis-
turbed. The bill having been agreed to
almost unanimously by the CAUCUS (there
being only four members dissenting), in
sures the passage Of the bill by the Sen
ate, and will, it is thought by Senators,
pass the House Of Representatives by a
respectable majority. In this case no
doubt is entertained that it will receive
the approval of the President, as it is in
accordance with his recent recOmmenda.
tion 10 Congress, 1t is said that 80 much
OF the fractional currency is mutilated
and lost as per cent annually, and that
silver can take its place with no incon-
venience 10 the public. The Government
is able TO purchase and coin silver at q
profit, and Can at an early period effect
substitution.
The Secretary Of the Treasury says
;hat the estimate of the Director OF the
Mint shows gain in specie and bullion
in the last two fiscal years OF about $685..
600, 900, and the stock OF specie in the
country to be about $lGG0OO,OOO. This,
in connection with the annual production
Of about SO 100000 Of precious metals,
affords encouragement that the stock Oi
coin may within reasonable time and
with favorable legislation be accumu-
lated to an extent sufficient 10 enable q
resumption oispecie payments to be IN
dertaken aud maintained.
HOUSE CAUCUS
There were about 80 members present
at the caucus Of the Southern Repupli.
cans last night They appointed q com.
mittee consisting Of Maynard, White,
Mckee, Platt and Whiteley to confer with
Senate Caucus Committee and consider
what Legislation is needed in the in.
terest OF the South. The Caucus decided
to vote, in the House, against a holiday
recess.