Year: 1874

A PANIC AMONG THE MEMBERS-AIL LEGISLATION


STOPPED FOR TIME-THE PRESIDENT EULo-


GIZED BY MR. TREMAIN-THE " CHEAP MONEY


MEN DIsMAYED-THE INITIATION MOVEMENT BE-


LIEyED TO BE DEAD.


IBY TELEGRAPH TRIBUSEI


WASHINGTON, April 22.-The news of the veto
created something like panic In the House u
came in no official way, because the veto message
went only to the Senate, but almost soon as the
contents of the big white envelope brought by Gen.
Babcock were known in that body, word came over
to the House. first as rumor and then, few min
utes later, as a certainty Nearly all semblance of
order was lost for time the members leaving their
seats and gathering in excited groups to discuss tho
startling intelligence. Nobody cared, for the mo-
ment, for the Appropriation bill, which before
had been contested, paragraph by paragraph
with all sorts of trivial amendments Of
fered as pegs on which to hang buncombe
speeches The war of voices drowned the reading OF
tho Clerk and the pounding OF MIR. Woodfords
gayel Order was measurably restored at last, by
the persistent efforts of the Chairman backed by
the entreaties of Gen. Garfield. that the members
would not let the good news prevent them from
going on with the work in hand Ii was any
thing but good news for the 1n1atonists, whose
long faces and angry looks were curiously in con-
trast with the exultant countenances OF the " hard
money men. Chairman WOodIord led his horse TO
the water but could not make him drink that Is, ne
kept the Legislative work going, but could not en-
force the attention of members to IT, thlrd OF
them.posted off to the Senate TO hear the message
read and another third repaired TO the CLOAK rooms
to give vent to their feelings in praise or blame of
the Presidents action.


ALLUsIOSs TO THE SUBJECT IN THE DEBATE


When debate resumed upon the pending blll,
by those who remained the speakers could not stick
TO the text, but wandered off to the subject upper
most in their minds. On an amendment to increase
the salary of the chief clerk in the Assay Office at
New-York three speeches were made which referred
more OF less directly to the Veto Mr. Parker SAID,
now that the gmmer of hard money could be seen,
there ought not to be any talk about increasing
salaries Mr. Tremain euogized President Grant,
as the great chief who had proved himself equal TO
the emergency, and hoped that the lnflationist
majority would have the wisdom 10 follow him. 1t
remained for Mr. Conger to give expression to the
doleful feelings of the "cheap-money" party
In dismal tones he spoke of tue pros
tration of the vital industries of the country
and of the stagnation of business, ana
said he wished that the laborng men OF the Iand
might hear the House discussing propositions TO IN
crease salaries while their last hope of gaining
livelihood was destroyed. He saw days OF distress
looming up; the people were groping in darkness
and want In reply to question by Mr. Melhsh
he showed that he did not understand the latters
position on the currency question, and when cor
rected he said it was not easy to know how men
stood nowadays. He could not tell what KIND OF
influences were creeping around IN tlls tanu @ V r
York OF other men in this matter" lhe otner
men" was obviously intended by MIR. Conger TO m
cude the author of the veto message IN reply MI
Garfield expressed the hope that such speeches. WIN
all imitation schemes, would now subside, ana tlat
the House would get back to the solid ground OF the
work before 1t.


OPINIONS OF MEMBERS.


MI iudQlup
from the talk of the cloak-rooms and lobbies, was
that the Senate would take up the House Free Bank
ing bill and pass it, with some provision for future
resumption of specie payments and that the Presl-
dent would sign such n measure Some thought the
whole question dead for this session at least and
few conservatives declared their belief that Presi-
dent Grant had punctured the imitation movement
and that in its collapse it would be seen how hollow
it was and how little real strength 1t had among
the people. As for the leading inhationists, some
were morose Others demonstratively angry, and all
predicting the most terrible results 10 Inc nc
publican party in general and the President IN par
ticular In quarter, however. was there any nope
expressed that the 'cheap money" movement IN
Congress would survive the deadly thrust IL mas re-
ceived from the White House. The only consolation
its supporters found in expressing the convlc-
ton that the people would sustain them, ana re-
buke the President at the Fall elections.


ENGLISH VIEWS ON AMERICAN INITIATION.


LONDON, Wednesday, April q, 1874


The London journals deprecate imitation OF
the United States currency but they think would be
followed by flow OF bullion to this country.


THE STREET ON THE DOOM OF INITIATION.
CONFLICTING RUMORs-GENERAL BEwILDERMENT-


RALLY AT THE CLOSE.


Only the readers of THE TRIBUNE were III
any way prepared yesterday for the great event
which was the universal topic OF discussion
In financial circles. THE TRIBusE's editorial an
nouncement that prominent iuhationists In Wash


nee Finn PAGE,