The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-01-07

months were lost in this fruitless discussion the
finance question Aner he had finished his FIRST series
OF remarks Mr. Edmunds Of Vermont, and Nj. Bosy
had an animated contest the condition OF tho
finances OF the country Mr.. Bogy declared that there
was no surplus OF revenue hand, also that there
never would be a surplus.
THAT" retorted the Senator from YER
mont "depends on the success OF tho
government in collecting the tax on whiskey in the
West" lLaughter)
Mr.. Bogy replied sharply that Il was easy enough <
the republicans have honest at the bead Of tho
government More aughterl
s'If honest men" continued the Vermont Senator,
ARE wanted, they will have to be taken from our,
party" (Renewed laughterl
Mr. Eaton's remarks the same question seemed to
be the most sincere Of the afternoon. He thought tho
question great be used the foot Of either party
Considerable bitterness was manifested by Mr..
Bayard OF Delaware when he said that the Finance act
Of last January forced the democratic side OF tho
House, regardless Of their protest for time to properly
consider It. The Senate adjourned at dark making 10
the longest day Of the session
FAILURE OF AN EFFORT TO MAKE THE HOUSE
DECLARE AGAINST CONTRACTION.
The currency question came up in the House also
and made quite sensation for few minutes 10
made its advent in the shape OF resolution offered by
Mr. Rea, democrat, OF Missouri declaring that ina
rency the manner and to the extent has been
tracted has been detrimental the business Of the
country and in the present financial condition OF the
country uNher contraction Of the currency ought
to be made All this nuts for Mr. Kelley, Of Penn
sylvana, who rushed 10 the vacant space In
front OF the Speakers platform ana took
his stand the democratic half Of the
little enclosure Il expecting the democracy would
declare for the resolution If TO show that, in
hfc
Much TO his chagrn, however, the House, by the
emphatic vote OF "a yeas l22 nays refused order
the previous ques ION and the resolution was then
referred to the Ways and Means Committee II was
signal victory Tor the hard money men, and il is not
asserting too much to say that no act OF the demo-
cratic majority thus far this session has been more
successful in securing them appreciation than this early
and prompt disavowal Of any disposition TO interfere
with the work OF bringing the country back TO specie
payment
THE DEMOCRATS WEAKENING IN THE MATTER
OF THE REDUCTION OF THE ARMY-AN AP-
PROBATION OF POPULAR SENTIMENT.
The proposition for a reduction OF the regular army
/ is not popular as IL few days ago and tho
1 democrats beginning 10 back water about IL 1t
significant today that Mr.. Randall, chairman OF
/ the Appropriations Committee, had resolution re-
ferred to the Military Committee nstrucing the latter
TO ascertain what the pay and allowances Of
the army could be reduced, thus giving time for de-
lberae consideration of the matter and allowing tho
democratic majority opportunity TO determine
how far they may safely proceed with
the Later the day, when
the Texas members working so earnestly
for the appointment OF a special committee charged
with power investigate the frontier troubles and
port remedy therefor they witted by the repub-
lcans with the question,
"would the reduction OF the army help them to a
solution Of their dinicutes?"
To this OF the Texas delegation responded in a
high key and the emphatic manner that bill
for a reduction Of the army would not get single
in Texas The outside pressure Is 7ery great against
the BILL and the democratic leaders beginning to
fear that the show they would make in the item OF
trenchment by reducing the army would be than
obscured in the unpopularty they would incur with tho
army and It's WIDE reaching friends. Furthermore as
Indicated day, the Texan and other frontier delega-
tons would probably 'bot" the bill Il attempt
made to put ii through as party measure
IRREGULARITIES IN COTTON TRANSACTIONS
COMING TO LIGHT-PRoMSENr PARTIES IN
PLIcATED.
A startling piece OF rascatv hns TO light owing
astssent vestisauons by ,be Treasury Department Of
t~san obvious irregularities" cotton transactions
Among these cases as alleged one arising out OF ne
gotations had by the 1rm OF Parkman, Brooks 4 Co.
with the government, will be given 70 the Grand Jury
for the purpose OF securing indictments against those
OF the parties to the transaction who alleged TO bo
guilty Some OF those implicated have held prominent
positions before the public and the revelation Of tho
fraud alleged to be involved In this particular
will make sensation The facts folows:--
"a United States officer stationed Memphis, having
government funds in his possession, loaned this FIRM
500 000 TO be used in the purchase Of cotton. when
proceedings subsequently instituted against tho
Rrnn fnr tha oft ha / IL CHI
that late Assistant Secretary OF the Treasury acting
in collision with a member OF the 1rm already well
known for his with the seal lock business.
oontrived to hold of the case against the firm until
they able to pass through the Treasury q claim
against the government for equal amount This ~
TO be only Of number OF alleged similar frauds
which Secretary Bristow has caused be fully
gated with view to exposing and Furnishing all
cerned
FAVORABLE REPORT OF THE COMMITTEE on
THE CENTENNIAL APPROPRIATION.
The friends Of the Centennial are delighted with the
unanimous report OF tho committee favoring appro
praton Of 81 500 600 In ard OF the celebration This
action was predicted this column two weeks ago
THE KEYNOTE FOR GOVERNMENT RETRENcH-
MENT
Mr.. Reagan, OF Texas, has sounded tue keynote for
governmental retrenchment IN proposing that the
United States shall levy direct taxes but iRtead
that the money needed carry governments
from year to year shall be equtaby apportioDed 10
and be raised by the States OF the Union.
Mr. BLArNE's EXPORT TO STRAIN THE QUALITY
OF MERCY
Mr. Blaine got In another neat little thrust at tho
democrats by offering resolution taking OF tho
hands OF the committee the bill for general amnesty
OF all rebel offenders, and proposing substitute
bill extending pardon TO everybody saving except
ing Jefferson Davis. who should take the oath Of
allegiance before United States Judge The joke in
this that the original democratic bill did not ex-
clude Jen. Davis The point raised that Mr. Cox
had the noor when Mr. Blaine rose that the latter
granted leave simply 70 print iLe resolution and