New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-06-07
WASHINGTON.
REPEAL OF THE RESUMPTION ACT
(BY TELEGRAPH TO THE TRIBySE.l
ACTION or THE HousE-DEMocRArs LOOKING TO


REPEAL WITHIN THIRTY D,Ys.
[BY TELEGRAPH TO THE TRrBpyEl
WASHINGTON, June 6.-The House to-day
amended the rules to allow the Banking and
Currency Committee to report at any time any
bill relating to the currency. This new rule
agreed upon in the last Democratic caucus and is
entirely caucus trick. II shows that the Demo-
cratic hard-money men have either surrendered to
the imitation wing Of their party, OF have not the
courage to resist il. The caucus at which this new
rule was agreed upon was for the choice of a new
doOrkeeper. Many Democrats consequently main
tanned that II had no jurisdiction over finance, but
the rule was agreed to in caucus and adopted in the
House to-day almost by party vote. The under
standing Is that the Banking and Currency Com
mitee has agreed to yield to caucus dictation and
to permit bill TO he voted upon which shall pro-
vide for the unconditional repeal of tho Specie Re-
sumption act.
Mr. Cox Chairman Of the Committee pronounced
hard-m0ney man, recently declared In the presence
of several people that he would consent to have the
bill reported The hard-money Democrats Justify
their the ground that it right that the
voice Of the majority should BIO heard 1t has been
claimed that the majority OF the Committee for
hard money. In the early part of the session, it is
true that possibly there was one majority
money is absent investigating
Committee, and two Of the Others Messrs. Cox and
Payne, have either consented pro foraN to report
the bill have yielded their convictions to the in
fationists. Ii Is noteworthy that MF Payne has
very considerably modified his hard-money views.
The new rule was opposed by the Republican lead
ers OF the House as unjustfable innovation and
as a grant of special power TO The Banking and Cur
rency Committee winch no other committee has.
The reporting of the bill is equivalent TO its pas
sage az the three test votes which have already
been taken under motions to suspend the rules indi-
cato that those who favor the repeal of the Specie
Resumption act are considerably more than major
ty While the general understanding is that the
adoption of the new rule Is q triumph of the
inlatiOnists, il was noted as a singular fact
that Judge Kelley opposed 1t, but probably his
desire 10 have vote upon his pet 365 scheme in
connection with the repeal of the Resumption act
which ne desires will explain his position. Never
theless Mr. Kelley insisted that the new rule would
permit hcsh brood of bills to come into the
House The door being open it is evident that
the Democrats intend TO report tho bill
from the Committee under this rule and
force passage under the previous question
without allowing the Republican minority OPP
portunty for debate. The country may expect to
see the House repeal the resumption act within 30
days The probability that the Banking and Cur
reucy Committee has agreed to repeal such bill 10
confirmed from the fact that the Ways and Means
Committee, early in the session, was invested with
the jurisdiction over all questions relating to the
greenback currency. The resolution adopted
yeas, lIJ 1; nays, 81.