Year: 1874

PASSAGE OF THE TARIFF BILL.


WASHINGTON, June l, 1874.
Situation or the Financial Struggle


Lon2ings for Compromise and Stub


bornness OF Purpose ON Both sides


The Veto OF the President . Sword OF


Damocles-Can Grant he Fooledf


The joint Committee OF Conference on the
Finances met, pursuant to adjournment at one
O'Clock p. M. to-day in the Senate Finance Com
mittee room, the previous session having been
held at Senator Morton's quarters In Difference to
hts wishes and on account OF his Door health,
which was so bad to-day that at one time 1t
was feared the session would be brought abruptly
to an end; but he rallied alter the application Of
restoratives, and, Notwithstanding he had not
slept wink last night and was this morning suf
fering greatly from nervousness and anxiety he
participated in the committee deIbeI ations Tor
nearly two hours. All the members were
present. Senator Merrimon and Mr.. May
nard most prominently discussed the
question, with frequent expressions ad-
vis0ry and conciatory from both Senators Sher-
man and Morton, Messrs. Clymer ana Farwel not
saying much. The former Senator exhibited at
times solicit0us and exacting nicely which al
most amounted to timidity when he limited
doubt as to the approval OF the President upon
what It was contended should be the action OF the
Conference. This consideration annoys Senators
very much, since 1t is so frequently urged what
the President will or will not do In this or that
event, and they at once retire with offended dig
nifty behind their reserved rights and indepen-
dence under the constitution, as q coordinate
branch OF the government. They are Outspoken
In their Indignation, saying that they are not to
be controlled nor inundated by any such consid-
Grafton as Executive favor or disapproval,
and, In the language OF one OF them, 1t
was said that "a British Parliament might have
had Cromwell, but an American Congress never,
.sor even could Jackson now tamper with the
United States Senate" The discussion was thor
oagh, earnest and well tempered during the whole
OF the committees sitting, but no conclusion was
reached, nor even was any decided approach made
to general good understanding. Nothing, at any
rate, looking like majority agreement or the
prospect OF an early conclusion has been yet Sc
cured; but Senator Morton has evinced greater
spirit OF concession and compromise than hereto
lore, and, in his own words, III he can secure
anything anywhere near what ne has contended
for In the interests OF the monetary demands OF
the whole country he is determined that
the responsibility OF present failure shall
not rest with him, and to that end he
is disposed to go as far as it Is right
and proper in the solution OF this great question:
In this apparent inclination OF the expanEonists
TO be accommodating Will be found the only posi-
bility OF measure, the success OF which may bring
the wearying suspense OF the controversy to q
happy conclusion. The question is now regarded
with increasing solicitude by the Presidents
friends and by the leading republicans. The only
proposition which furnishes ground for hope is
uh q NJ oprn hoo
varying in quantity from thirty-three to thirty.
seven and half per cent OF the reissue OF national
bank notes. This would. 1t is confidently asserted
by prominent politicians, meet with the Presi-
dents sanction. But while the arguments are
gong on it is shrewdly suspected that Grant may
be deluded by an adroit measure concocted by the
opposition, which will 60 just far enough to obtain
his approval and at the same time demonstrate an
mcohercncy OF logic and principle On the other
hand, with an appearance OF yielding their pecu-
liar opinions, the expansionists will go far enough
to show an earnestness OF intent in the work OF
solving the financial problem. but only to that
point where Grant cannot meet them, and then
he will be held accountable to the whole
country for the failure to perfect system OF So
called relief. The most positive agreement, how
ever, which has been reached and which would
give the largest satisfaction IL the whole plan OF
compromise were carried out, Is that which re.
sends what Is known as the Scott amendment,
which disturbs the bank reserves in New York city
to the extent of about $40. .0O0 900. This is gen.
orally acknowledged by almost every one as af-
fording the principal reason to President Grant Tor
o veto OF the bill which was recently sent to him
Tor his Signature. This, II adopted, would remove
the greatest cause OF alarm and opposition
any finance bill on the part OF the adminstra-
ton and largely facilitate its adoption, II 1t has
other too radical provision as to the retirement
Of green backs or the fixing OF too early date for
specie resumption. Unless more healthy symp-
toms taan at present are discernible are devel-
opcd no successful closing up OF the broad chasm
which lies between the two dissentient factions OF
the dominant party can be effected by the strength
or spirit OF either, and the edo nothing policy' OF
Senator Boutwell, will be the shame of the govern
ment for some time to come. Senator Ferry, of
Michigan, Speaker Blaine, Congressman Hooper
and Senators Carpenter and Howe are at work un-
tringly to accomplish a practical result but the
sick man, Butler, with cunning machuations, Is
at the bottom OF determined effort to prevent
50 consummation SO devoutly to be wished.n


Richardson Removed from the Treas.


experimentation Of Ex-solicftor Gem


eral Bristow To he Secretary OF FL


nance-The Decapitnted Cabinet Of


flcer Appointed Judge Of tho Court Of


ClatmS-Part1san Opinions on tho


Changes.


What has been expected for weeks took place
to-day, when the President sent to the Senate the
nomination Of Colonel b. II. BristOw to be Secre-
tary of the Treasury, vice W. A. Richardson, who
Is at the same time appointed to I'll the vacancy
In the Court OF Claims. Since the retirement OF
Colonel Bristow as Solicitor General the first ap-
pointment made in the organization Of the De.
partment OF Justice, he has been engaged princi-
paly In practising law. He left public lie because
st was more profitable to accept the position OF at
torney OF the Texas Pacific Railroad, but soon dis
covered that this kind OF professional routine did
not accord with his taste judgment and he quietly
Withdrew His only ambition has been to be At
torney General the honorable prestige Of which
mas been valuable TO all those VINO have occupied
the ONCE Tor any length OF time. For the position
'or which ne was to-day nominated he has neither