, 1876-02-23
WASHINGTON.
COMMiTTEE.WORK.

COMMiT1EE.W0Rk.
NAVAL AFFAfna.
Spteidi Disrnteh to The Ehteaeo TftbttnA.
WASHINGTON, D. G., Feb. 22.-Tho House
Committee on Naval Affairs, at its mocting to-
day. listened to somo statements by Capt. Luce,
III snppo's Of a bill to create mixed commission
for tho confederation Of naval affairs. Il seoms
10 10 Tue senslrnent Of tho Committee that olther
Acofnm'aaion such "a Ia proposed by The bill pre-
pared by somo Of tile otficars OF tho North At
!anslo saadron. a summary Of whtch Was pub
1ahcd In The Tn,urSE q fow DAYS aro. or tbs
Establishment of Goard ut Admiralty to aako
Into consideration tho nams euhtcpti Should be
provided for. It s doubtful II tue Coututtsoo
recommends 10 appropriation fos tho ne1t fiscal
ycar In excess Of Si9,0uo. 600.
TIE CURRENCY.
lilo Committee appointed ~ tho Democrats
CAUCUS to devise toms financial measure yss in
session four OF Eve hours today hut reached NO
veto On Tie aubjee submitted to thctn Tie
1uehtion discuERod Was whothor tl4o Gutnmit,eo
shall recommend 10 the Caucus q ILL tqpealIuv
portions OF the Resumption act Of Jan. Ii. 1876.
without submitting, At Tho samo time q sutati-
tnte for It, or whethcr the repeal shall be accom-
panied by q substitute, tue nominal pusposo Of
which shall bo to bring nbout epccie payment Al
Homs remnte tlnao. Tho sentiment OF alt West-
crn members of tho House scc1ns generally 10
bo in favor Of absolute rcpoai, without the aiop-
caucus eau agreo on any currency bill which III
be At all elective to secure Bpocle Payments esou
a. retuoto poriod.
THE oTLr ONE THING
thus faf settled by the Comnistoo ssema to DO
that portion of tho act OF 1876 Hiii te recon-
msnded Tor repeal. though no voto on tbin point
even Las boon takon. The Grat section of the
act relating to tho circulation Of silver coin in
place ot fractional currency il not considered Of
very great Importance since the groas lcprecin-
tion which haH rcccnty taken placo IN tho yAtuo
of ellvor as compared Hitn that OF gold. 1Ir.
payna's bl!t 1t viii 10 remembered, provided fur
tno repeal Of thin scctaoa on tho Erouud
taa' ~ A. tho t!mo 1t Taa introduced, csrly
the silver market WAS such that tia Secretary Of
tho Treasury. although ho had Oil hand about
$l20u0 900 In eliver coins aud bullion. dld not
daro put 1t into circulation uuti1 ttofe was m
That time very great depreciation has taken
p!aeo IN hilycr, 80 that tho silver coin Mould
doubtless now renasn i'll circulation Ii it Was
paid out by the Treasury. But another question
Las At'sen ~hether it will not become 10 much
depfeciated as to mako it ueceaeary 10 change
the colnRHe taMs and luc1ea6o tic amount u
rura ai3yer contained IN our haf-dollar and other
silver colna.
Sec. Of the act Of 1876. which provides for
the free coinage OF gold at naints viii probably
third eoctsou, provid,ng for tito rcdemntion OF
United States notcs IN coin after Jan. !. 1870
and authorizing the Secretary uf tho Treasury
to uae the sutptra revenues OF to sell bonds in
order to enable him to carry our ttis mart Of tLa
&c. will probably be repealed.
lHo COMMITTEE Will hold another meeting to-
morrow. when 1t In expected that vote CD tho
reached.
It liz vers evident that no compromise Is pog-
nlbls between Hol1nan and tho hasd-monoy
Democrats. An oIe Of the Committeeman eI-
pfeaaed II, " HOLMAN has blood in bis ryc.