The New York Herald Newspaper, March 27, 1874, Page 3

WASHINGTON. The Senate Pass the Four Hundred Million Provision. FURTHER INFLATION PROPOSED. Expansion of the National Bank Circulation. FREE BANKING 10 BE LEGALIZED. A Small Majority for the Transportation Bill in the House, The possiditity of a new issue of tnconvertidle | Paper I regard with amazement and anxtety, anda, tn my judgment, such an issue would be a detrt- ment and a shame.—CHakLES SUMNER. WasuINoTON, March 26, 1874, The Senate Vote for the $400,000,000 Limit—A Small Majority—Attempt to Inflate the National Bank Circulation to the Same Extent—Free Banking. In whe Senate this has been what might be called & calendar day for political economists. The great | question, whether we shall have “more monéy,” as Senator Chandicr stigmatized it, and which is ‘one of moment to the Whole country, and it stu- Pendous, as well as ominous future, was finally settied and put at rest for the present, so far as eonjectures and calculations, as well as hopes and fears, have been concerned. The Senate ralsea its voice in response to the call of the House, and passed an amendment otfered by Mr. Wright, of lowa, in favor of fixing $400,000,000 as the max- {mum amount of United States notes. As pre- Gicted in these despatches this measure passed by & small majority of five, the vote being 26 nays to 31 yeas, quite a full Senate being present. There were tweive Senators paired and three Qbsent. Every move in Senatorial tactica ‘was resorted to without proceeding to the abom- abie and cowardly method of filibustering, in order to reduce the impending victory which the infla- ‘tionists or “more money” men were about to gain, and of which they manifested their positive assur- ance by a kind of indifference to the current Sena- torial proceedings. They left all the talking to the resumptionists or “hard cash” men, and seemed to be only biding their time for a vote, which they had “figured down to a fine point” from early in the day’s session. Preparatory to the resumption Of the unfinished speech o1 yesterday by Senator Scott, a plain and direct charge of criminality on the part of the Senate in keeping up so much Speech making, was renewed by Senator Ham- lin in some homely and telling remarks. he insinuated that the time was not far distant ‘when the limit to debate in the Senate would have to be restricted by parliamentary regulation; and Senator Sherman added somewhat significantly that the Senate had that power now and could nse tt aswell as other deliberative assemblies. The resolution of Senator Sherman, which was laid over since last night, providing for the taking of a ‘Vote on the question at three o'clock to-day, de- | Pate being limited to ten minute speeches on each | ‘amendment, was withdrawn without being put | before the Senate, as it was agreed by unanimous consent tnat the voting on the pending amend- ‘ments be proceeded with at four o’ciock, the Sen- ate showing a reluctance to being restrained by ‘ny expressed limitation in deciding when a vote should be taken. This was agreed upon as the sense of the Senate, and Senator Scott proceeded with his speech in favor of contraction. He was followed by Senator Hamil- | ton, of Maryland, who briefy spoke in positive terms against any increase in the paper currency ofthe country, which he stigmatized as calculated to injure every imterest of the people at home ana abroad, Notwithstanding Senator Hamiin’s unre- gerved deprecation of more speeches, Senator Morrill, of Vermont, insisted. upon having a part- Ang shot at those who were in favor of an increased circulation, and he bore down heavily upon them, predicting general disaster as a result of their course. The hour of four o’ciock, at which the ‘vote was to be taken, not having arrived by three- quarters of an hour, and no other unlimited @peeches being offered, Senator Howe said he ‘Would take up his ten minutes allowance of time on the amendment at once, and he proceeded to speak at length. The gist of his argument was in favor of fixing the currency at $356,000,900, He argued at some length, and the Sen- ate was gradually growing more full and interested in the cloge of the subject. Among those ‘who, having been absent, were present to vote, | ‘were Senators Boutwell and Sprague. The Secre- | tary of the Treasury and the Speaker of the House, as well as several members of the House who hive Javored the $400,000,000 limit, were present, and manifested great interest in the proceedings as | the time for a vote approached. Upon the amend- mont offered by Senator Schurz, fixing the limit at $366,000,000 as the maximum for the circulation of United States notes, the vote was prompt and de- clsive, a favorable result having been ackuowl- edged before the test by Senators Thurman and | @onkling, «0 be hopeless. It was defeated bya ‘Vote of 40 nays to 18 yeas. After this considerable Gebate occurred, in which Senators Sherman, Conkling, Thurman and Morrill (of Maine) partici- pated, upon a question as to the use of | the words, “fixing the maximum amount at which it shali be limited,” which they desired | w be employed in lieu of the words of Senator Wright’s amendment, which were, “the amount of United States notes for circulation.” This aroused considerable alarm, when Senators Conk- ling and Sherman strongly protested agamst the verbiage used, and warned the Senate against its adoption as being insidious and designedly se- lected for that reason. Aiter considerable colioquy ‘upon an amendment which Senator Morrill, of Ver- mont, introduced, to the effect that the words, “maximum amount at which the United States Jegal tender circul ation shouid be limited,” shoula | take the place of “for circulation,” the latter clause | as to circulation was conceded, ‘with the adoption of the word “maximum ;" but on the question of | using the word “limited,” varying opinions being held as to it, it was firmly objected to, and Senator Wright insisted upon a square vote on his amenament, without the words ‘for cir- culation,” which read, “The maximum | amount of United’ States notes is hereby Dxed at $400,000,000." Upon its adoption Senator Merrimon offered a substitute for the balance of the bill, providing for an increase of $46,000,000 of national bank currency, to which Senator Logan offered an amendment providing for free banking. There is some doubt entertained as to the success of the free banking measure, and fm the event of its failure the majority will fall ®ack on the amendment of Senator Merrimon, | ‘which will, without doubt, then be carried. This will, with the increase assured by the passage of the Four Hundred Million pill, make the national bank circulation also $400,000,000, thus making the aggregate currency volume $800,000,000. Just before adjournment, at six P. M., the Senators being wearied and anxious to get home, | Senator Buckingham introduced a substitute for | the balance of the bill, but in the confusion instant | upon the motion to adjourn nothing could ve | learned of its scope. As the Senate was virtually adjourned, most of the Senators having left their Seats before the motion was put, which was finally done, and by unanimous consent, no voice being heard, the body separated. Pi ‘The death of Senator Sumner and the vacancy am the Louisiana delegation make the number of Senators seventy-two. Of these Messrs. Alcorn, | Boutwell and Gilbert were absent to-day without | painng, and Messrs,Dennis, Flanagan, Jones, Kel- ‘dy, Scott and Wright were paired with Messrs, Stockton, Brownlow, Dorsey, Clayton, Cameron and Edmunds. Had Alcorn and Wilbert been Dresent thay would have voted for indation, and | absent, | | jority ‘NEW YORK HERALD, FRIDAY, MARCH 27, 1874.—TRIPLE SHEET. Bp Boutwell would have been obliged to vote for the $400,000,000 to maintain consistency with nis action while Secretary of the Treasury. The democrats voting were about equally divided, eight voting for the increase and six against it. Of the liberal republicans Fenton and Schurz voted against and Tipton jor mfation. Senator Sprague was the only New England Senator who voted for the $400,000,000 amendment. Tho vote of the Middle States Senators, with all Present would have been eight against and two in favor of expansion. The cry of the West and South for more money is seen in the votes of the Southern and Western Senators—Ohbio alone ex- cepted—both Sherman ana Thurman being against inflation, as well as the Senators from Texas, Hamilton and Flanagan, though the latter was paired. An analysis of the vote of the House ana the Senate now makes it absoiutely certain that free banking will be agreed upon as the next best measure for securing “more money.” The Inflationists Disappointed tn Their So-Called Victory—The Secretary of the Treasury Will Not Issue the Remainngi $18,000,000 of the Reserve—His Policy Supported by the President. The impression has gone abroad that the action of the Senate and the House implies that the Secretary of the Treasury will put out the re- ; mainder of the legal tenders, amounting to $18,000,000, There is the highest authority for the statement that i the bill were a law to-day not one dollar of the $18,000,000 would be putin circu- ation, What the Secretary of the Treasury will dois to transfer the remainder of the legal ten- | ders to his currency balance and report daily the outstanding legal’ tenders at $400,000,000, But Secretary Richardson 18 pledged to a policy from which he will not depart, and in this | he is uneqnivocally sustamed by the President. That policy is to always have @ large reserve on hand to be ready for any emergency. When the minimum of $356,000,000 was recognized the ‘Treasury Department always tad a currency bal- ance of $10,000,000 or $12,000,000, aud this with the full knowledge that if absolutely necessary the reserve of $44,000,000 could be drawn upon. Now that the maximum limit is nearly reached, and no reserve beyond it for an emergency, Sec- | retary Richardson says thatthe honor and the credit of the government both require that the currency: balance shall always be so large that the necessity for selling gold to get currency with which to pay the current indebtedness of the government may never arise. It will be remembered that in September last, when the panic began, the Treasury Department had accumulated a balance of over $13,000,000, which was speedily paid out, and since then $26,000,000 of the reserve have also been paid out. ‘The basis of business operations, as anticipated in the financial departure of the government for the remainder of the year, is such as to preclude the hope of accumulating a currency balance out of the $26,000,000 of greenbacks already in circulation, but it may be depended upon that the balance of $18,000,000, not in circulation, will not be drawn upon, unless a reason as potent as the one which caused the Secretary to draw upon the reserve last falb shall again present itself, The fact of | transterring the $18,000,000 to the currency balance | will apparently put it in circulation while it ac- tually remains in the vaults of the Sub-Treasury in New York, where it is to be kept. Limiting the Jegal tender circulation to $400,000,000, over which there has been so much exultation to-night, has led three-fourths of the members of the House and Senate who voted for it to believe that bonds are to be bonght and the whole amount of legal tenders put on the market. When the contrary is known an effort will be made to fix the amount of the currency reserve in ex- cess of which it shall not be lawful for the Secre- | tary to hold. On that point it is thought there | May be a reaction, Bonds are yet to be purchased for the sinking jund out of the gold balance or taxation increased, to take effect within this fiscal year, sufficient to cancel the obligation of the law. | It is evident trom what has transpired to-night that the inflationists have not gained the victory they proclaim, | Passage of the Transportation Bill in the House by a Small Majority. The House, by a very decided vote, shelved the Appropriation bill to-day and took wp the vill re- ported irom the Banking and Currency Committee, No. 1,672, the main feature of which is free bank- ing. {h¢ Chairman, Mr. Maynard, led off in an exhaustive speech in favor of the bill, fol- jowed by Judge Durham, another member of the | Committee, Mr. Mitchell was next recognized, and has tite Noor when the debate is renewed. Ail the members of the Banking Committee will make long Speeches, and, in addition, Messrs. Orth, Burchard, Piatt of Virginia, Mellish, Colton, Scudder of New Jersey, Bright, Townsend, Monroe, Coburn, Wil- | son of Indiana, Fields, Negley and Buckner are enrolled to make speeches. How many more will add their names to this long list it would be idle to say; but many days hence the “Last of the Narra- gansetts” may ask the House to come to a vote on the bill, the $400,000,000 clause of which 1s obsolete | by the action of tne House on Monday. The Trans- portation bill was passed to-day by a very close vote—121 in the affirmative, 116 in the negative, 53 be defeated, and so it would had the democratic members voted solidly. Strange to say, the ma- of five for the bill was made up of democrats—Messrs, Luttreil, of Califor- nia; Kendall, of Nevada; of Indiana, and Robbins, of North Car- olina— while nearly filty republicans and influential members of the House voted with the democrats against its passage. It was remarked to-night by @ prominent democratic Senator that if the bill passed the Senate the millennium of railroad managers would be at hand; Jor, in | place of having to manage so many Representa- tives and Senators, it would only be neceszary to buy up five, a majority of the board provided by the bill, to regulate rates of ireight and fare. When reminded that the passage of the bili in the House rested with a quintet of his democratic allies, he said, ‘Don’t talk to me about the demo- cratic party or democratic principles. They belong to the period of the world when paper money was not known and all the carrying trade was confined | tothe Ark. The vote of democratic Congressmen to upset State rights is quite as consistent as the vote of democratic Senators for an increase of ir- redeemable paper money.” These remarks very fa‘riy represent the condition of mattersin both | houses, where party lines are no longer recog- nized, and where démocrats vote to curry re- publican measures and republicans yote to sustain democratic principles. The possibility af a new issue of inconvertidle paper I regard with amazement ana anziety, and, in my judgment, such an issue would be a detri- ment and a shame.—CHARLES SUMNER, The Report of the Committee on Tr: portation Routes to the Seaboard—How Russia May Supersede the West in Growing and Shipping Wheat and Corn and Undersell Our Own Farmers | Here. Senator Windom, who is chairman of the Com- mittee on Transportation Routes to the Seaboard, reports that the result of the extensive investiga- tion of nis committee looking to cheap trans- portation will soon be ready to be submitted to the Senate. A large part of the report is in the hands of the printer, and quite as large an appen- dix of the information compiled is in manuscript. ‘The report will be very interesting, as it is most exhaustive, very full o/ statistics on the subject of transportation, and will comprehend valuable facts gleaned irom all parts of Europe and the world. No conclusion can be said to have been arrived at in the committee. discussed it is not, therefore, known at this time what their final decision will he, Butit may be said with every confidence that the most proper by the friends of the measure with a profitabie outlay of money on the part of the government, Some very astonishing facts have been developed in the course of the investigations, and efforts made | for the* fullest information on the part of the com- | mittee, For instance, the cultivation of wheat nai been 80 much improved in Russia and 80 much at- tention has becn given of late to its cheaper pro- | and afix their cherished autographic signatures. At one time it was thought the bill woula | Holman and Wolfe, | | opinions As the question of , what recommendation they will make has not been | and feasible plan which suggests itself will be one | which will be accompanied with what is regarded | duction that, though it may seem exaggerative to Say it, the day is possibly not far distant when, With the cheapness of labor im Russia since the abolition of serfdom and the loosening of a large element of jabor which is remitted to the pursuit of optional employment, Russian wheat and corn may be landed cheaper in Boston than it cap now be brought there from our own interior and re- mote agricultural sections, While tt is true that the staple is of an inferior quality, yet it is said that te foreign article can be laid down here some seven or eight cents cheaper than the present average ruling market price in Boston. The custom of handling it heretofore in vogue in Russia is also to be very much cheapened by the aid of*American skili and invention, The manner in which this has been done has been in sacks, which have been brought into the places of shipping in carts, carried up into the second and third stories of houses and again handled in like manner, Recently arrangements have been en- tered into in order to introduce the American plan Of grain elevators now in use in this country. With their fine rivers and the facilities of im- Proved navigation the Russians can ship their Wheat down to the seaboard, where the most im- portant item of expense in the way of transporta- | tion will be the cost of ocean carrying or freight- age. This, as weil as other very striking informa- tion, has been collected by the committee. There is no doubt, it may be said in conclusion, that the granger influence will be very well satisfied at the conclusions reached. ‘The committee have’ most patiently ana earnestly | given their attention to the exbaustion of the sub- Ject, but it is unquestionably a fact that there will | be very strong opposition to the general pro- gramme to be offered by them. ‘The railroad mo- nopoltes will undoubvedly be averse to the recom- mendation of the committee in favor of cheap transportation, upoa the basis of what will aid the agricultural interests. Consolidation of New York Collection Districts. ‘The President to-day issued an order uniting into one district the Eighth and Ninth Collection districts of the State of New York, the consolidated districts to be known and designated as the Fourth Collection district. It is also ordered. by the President that Charles B. Coster be retained as Collector of said district. i The Brunotute Indian Treaty. The House to-day approved the Brunotute In- dian Treaty. It will pass the Senate also. This treaty opens to settlement 4,000,000 acres of rich mining country in Southwestern Colorado. Permission Granted Congressmen to Send Their Autographs on Printed Matter | Through the Mails. Congressmen are jubilant over permission given them by the Postmaster General to place their autograph aignatare on printed books, pamphiets, documents, &¢., a3 in the good old days of frank- | Ing, although they will have to pay the postage on brinted matter. Citizens generally caunot, even with their initials, on printed matter; but Con- gressmen and other officials can certify that “this package contains nothing but printed matter,” In this way constituents will know who send their remembrances from the capital, and His Satanic Majesty is flagellated around the postal stump. Executive Nominations. The President sent the following nominations to | the Senate to-day :—Henry P. Rolfe, to be United States Attorney for the District of New Hampshire; Moses Hallett, to be Chief Justice of the Supreme Court of the 'rertitory of Colorado, and William A. Saylor, to be Collector of Internal Revenue for the Second district of Texas, The possibility of a new issue of inconvertible paper Iregard with amazement and anxiety, and, in my judgment, such an issue would be a deiri- ment and a shame.—CHARLES SUMNER. THE INFLATION INSANITY. Passage by the Senate of the Provision Expanding the Greenback Currency to $400,000,000—Proposal to Inflate the National Bank Circulation to the Same Amount and to Establish Free Bank- ing, ; WASHINGTON, March 26, 1874, The morning hour having expired, the Onan announced that the Senate woula resume the con- sideration of the bill to provide for the redemption and reissue of United States notes and for free banking. i } Mr. SHERMAN, (rep.) of Olio, called up the reso- | Intion submitted by him yesterday, and amended | it so as to provide that after three o’clovk to-day debate should be limited to ten minute speeches on each amendment, and that it should be in order to move a recess from five to hall-past seven o’clock P. M. Mr. BAYARD, (dem.) of Del., opposed the adop- | tion of the resolution. Mr. HAMLIN, (rep.) of Me., hoped it would pass. He said he was tired of having the Senate sit,day alter day for the purpose of allowing a few Sena- tors to address empty seats on the financial ques- tion. Other subjects must be discussed this ses- sion, and if the Senate wasted time on this there | would be no time for debate on other measures, The Western members seemed to think that this | financial question was one of special interest to them. He desired to say to them that it was of no more interest to the West than to the East. As there was objection to the resolution of the gentle- man from Ohto (Mr. Sherman), he (Mr, Hamlin) pro- posed that a general agreement be made now to commence voting at three o'clock to-day, and after that hour speeches on each amendment be con- fined to ten minutes on the part of each Senator. After some jurther discussion Mr. Hamlin modified his proposition so as to provide that voting should , commence at four o'clock instead of three o'clock, and, as modified, it was agreed to. WHAT KIND OF CURRENCY? | Mr. Scorr, (rep.) of Pa,, being entitied to the floor, said when the Senate adjourned yesterday he was speaking of the character of the currency the government should furnish the peopie. There were now five sorts of currency—first, the Treas- ury certificates for gold deposits; second, the gold notes, issued by three banks in California; third, the national bank notes; fourth, the legai tenders, and, fifth, the fractional currency. He would be glad to see notes issued by the government to take the place of all these. He argued that one of the most objectionable features of the national banking system was that of the government pay- ing two per cert into State treasuries upon na- tional bank securities held by it, He referred to the reissue of @ portion of the $44,000,000 reserve, and said if there was blame Congress was entitied to its share, as it did not expressly prohibit the Sec. retary from reissuing that fund. The bill as it came from the committee did not command his entire | approval, but he was disposed to adopt it. He would be governed by circumstances as to whether he would offer any amendments. On some of the provisions of the bill he was paired with his col- league (Mr. Cameron), who was detained from the Senate by the death of a member of his family; buton other provisions which they both agreed to he would vote. DBFECTS OF THE BILL. Mr. Fenton, (liv.) of N. Y., said his views on the great financial problem were well known, and he did not propose to reiterate them now. The people expected of Congress a decision in order that they might know where they stood, He despaired of getting what he thought was the best measure, though it was not surprising that there were conflicting on this question among men representing various interests. After all this diversity of opinion there was a common in- | terest, and he deprecated any attempt at sectiona; feeling gn the bill, There were no corporations of capital in New York or Massachusetts antagonistic w the growth of Illinois or Georgia. He would gladly support any measure which promised a re- turn to specie payment, but he did not see any- thing in this bill which tended to thatend. When @ correct principle should be adopted on the cur- rency question the trouble would settle itself in harmony with the industri and = trade of the country. _He favored the free banking section in the bill, but did not, concur in the details of free banking, and an arbitrary imitation of it seemed paradoxical | tt could be adopted afterwards. He was not entirely opposed to the present system, But let it be entirely ree; take it out of the power of the government to ix the amount of cireula- tion, and leave that where it should be left, to be regulated by the wants of the people. The pro- vision for tree banking in this bill had none o1 the redemption principles #0 essential for salety and aoe He announced that he would vote against the bill. RESUMPTION NOW PRACTICABLE. Mr. MORRILL, (rep.) of Vt., argued in favor of specie resumption, and said it was an absurdity to say this country was too poor to undertake the resumption Of specie payments now. He spoke of the provisions of the bil, and said he favored the retirement of the legal tenders dollar for doliar as national bank notes should be issued. M. LOGAN Said this bill had been reported here by the Finance Committee, and he had not heard a single member of the committee speak in favor of it except the Chairman, and he (Mr. Logan) believed he was rather doubtti. The committee asked the Senate to vote for the vill when all its members were against It. ‘The hour offour o'clock having arrived, the CHAIR announced the ten minutes rule would be en- forced in accordance with the agreement entered into this morning, r. Hows, (rep.) of Wis,, saia he would vote against reducing the circulation of legal tenders aud was also opposed to their increase. He would, therefore, support the bill of the committee, believ- ing it best to leave the circulation a8 it 18 at present. Mr. THURMAN, (em.) of Ohio, said, although the | bill of the gentleman from Missouri (Mr. Schurz) | should be adopted here, it would not pass tie other house alter the vote of Monday in that body, Mr. FERRY, (rep.) Of Coun., said that under bo circumstances would he vote for an expansion of the currency. He believed the legally authorized issue of greenbacks was $56,000,000, and would, therefore, support the amenament’ of the gentie- man trom. Missouri (Mr, urz). There was no necessity jor the government to issue an increase of irredeemable paper currency. Such action would be to dishonor the country at home and abroad. REJECTION OF MR, SCHURZS AMENDMENT. The question being on the amenda.ent of Mr. Sciurz to strike out “eighty-two" and insert “filty-6ix,"? so that the maximum limit of Unined States notes should be $356,000,000 instead of $382,000,000, a8 reported by the committee, it was lost by 18 yeas Lo 40 nays, as follows:— Yuas—Messrs. Anthony, Bayard, Chandler, Conklin, Cragin, Fenton, Ferry ot Connecticut, Frelinghuysen, Hamiion of Indiana, Hamilton of Texas, Hainiin, of Maine, Morrill ‘of Vermont, Surgent, Sauly- bury, Schurz and’ Stewart—8, NAY Bo Bi Davis, less. Allison, Boxy, 2.0, arn, Carpenter, Conover, Cooper, of Michigan, Goldthwaite, Gordou, Harvey, Hit Howe, Ingalls, Johnston, ‘Lewis, Logan, MeCreery, M rimon, Michell, Morton, N od, Oglesby, Patterson, Pease, Pratt, Ramsey, Ransom, Robertson, seott, sh man, ‘Spencer, Sprague, Stevenson, ‘thurman, Tiptor, West and Windom—W0. Messrs, Flanagan, Jones, Kelly, Stockton ana Edmunds, who would have voted for the amend- utwell, Ferry cock, ‘ment, were paired with Messrs. Brownlow, Dorsey, Clayton, Denn and Wright, who would lave voted against it. THE FOUR HUNDRED MILLION DOLLARS LIMIT Mr, WhIGHT, (rep.) of lowa, inoved to strike out the whole of the first section of the blll alter the en- acting clause. and insert that the amount of United States notes ior circulation 1s hereby tixed at $400,- 000,000. Mr. MORRILL, (rep.) of Vt., moved to amend the substitute by imserting alter the word ‘dollars’ as folows:—"At Which amount it shall reimain, until reduced as hereimafter provided,” Mr. WRIGHT Opposed the amendment, and said He thought the fourth section of the bill was the same as the amendment ou: the gentleman from Vermont (Mr. Morrill). Mr. CONKLING, (rep.) of N. Y., said if the amend- ment of the gentleman trom lowa (Mr. Wright) should prevail now it would be only logical for the majority voting for it to vote down the tourth sec- tion of the bill, Which provided forthe reductionof | legai tenders down to the sum of $300,000,000. ‘The time to resist the amendment was now at the thres- hold, and he hoped the amendment of the Senator from Vermont (Mr. Morrill) would prevail, Mr. SHERMAN Said if it Was the Intention of the Senate to declare that as the maximum limit of the greenback circulation alarm would be created throughout the country. He opposed the amend- ment of Mr. Wright, Mr. CONKLING said he knew nothing to equal this | proposed action since he had been in the Senate, except once, and that was the refusal to msert the provision forbidding the Secretary of the ‘Treasury to cause some Senators thought 1t was not necessary vo do so, He hoped the Senate would not be hood- winked now, SO as not to see the designed differ- ence between the words maximum amount and circulation. Did any man suppose it was a mere matter of style which led the Senator irom lowa (Mr. Wright) to use this language? It meant to jump over everything Kuown as iegal tender re- serve, and if the @mendment should be adopted the reserves could be issucd in addition to the },000,000. Mr. WRIGHT denied that such was his intention, but he preierred the amendment as he had worded it. Mr. CONKLING gaid the Senator from Iowa would not waste time over words if they did not mean something, as the gentlemen went for things not tor words. He (Mr. Conkling) hoped the amend- Ment of the Senator trom Vermont (Mr. Morriil) would be adopted. Some one had said that amend- ment could be adopted afterwards. It could not under the rules, and it must be adopted now or never. He hoped the Senate would have the courage to Stand up and say what it meant. Hew to the line, no matier which way the chips might ws Nagel adoption of the amendment of Mr, TH r, SHERMAN said if the Senate should adopt the words “Jor circulation” as the gentleman pro- posed, it could not aiterwards strike them out. Mr. MORTON (rep.) denied that the amendment of sir. Wright had any deep and hidden meaniug. Mr. MORKILL saia he did not offer his amend- ment for the purpose of entangling the bill. He desired to improve tt, ‘The question being on Mr. Morriil’s amendment, it was aisagreed to—yea: nays U1, as iollow: Yuas—Mesers, Anthony, Bayard, Buckingham, Chand, Jer, Conkiing, Cooper, Cragin, Davis, Fenton, Ferry of Connecticut, Frelinghuysen, Hager, Hamilton of Mary- Jond, Hamilton of ‘texas,’ Hamlin, Howe, Morrill of Maine, Morrill of Vermont, Sargent, Saulsbury, Senurz, Sherman, Stevenson, Stewart, Thurman and Wad: eigh liye Messrs. Allison, ogy, Boreman, Carpenter, Conover, Ferry of Michigan, Goldthwaite, Gordon, Har! vey, Hitchcock, Ingalls, Johnston, Lewis, Logail, M Creery, Merrimon, Mitchell, Morton, Norwood, Ogiesby, Patierson, Pease, Pratt, Kamsey, Ransom, Roberton, Spencer, Sprague, Tipton, West and Windom—3l. Mr. SHERMAN moved to strike out the words “for circulation” in Mr. Wright's amendment and insert before the word “amount” the word “maxi- mum,” so that it would read “maximum amount of United States notes is hereby fixed at $400, 000, 000."? Mr. WRIGHT modified his amendment to read in that manner, Mr. SCHUKZ, (l1b.) of Mo., moved to strike out the word “amouut’’ aud insert “limit.” Mr. WricuT said he saw no difference between | the woras amount and limit, Mr. CONKLING inquired why the gentleman in- | sisted onthe word “amount? 1 he thought it meant the same as “limit.” ‘The amendment to insert the word “Itmiv’ was lost without @ division. Mr. Wright’s amendment, as modified by him, was then adopted—yeas 31 to 26 nays—us tol ) lows:— Yuas—Messrs. Allison, Conove Bogy, Boreman, Carpenter, Ferry of Michigan, Goldthwaite, Gorfou, Har: , Hiicheosk, Ingaiis, Jolson, Lewis, Logan, Me- ery, Merrimon, Mitchell, Morton, Norwood, Ogles rson, Pease, Pratt, Kamsey, Ransom, Robertson, cer, Sprague, Tipton, West and Windom—31. Nays.-Messrs Anthony, Bayard, Buckingham, Ch Davis, Fenton, Ferry of er, Hamilton of Mury- Hat i Aamiin, How Morrill of Morrill of Vermont, Sarger y, Schurz, Stevenson, Stewart, and Wad- FURTHER INFLATION, Mr. MERRIMON, (dem.) of N. C., moved as a substi- tute for the whole bill we following :— Sxcrion L.—Ihat the maximum limit of the United States notes for circulation is hereby fixed at $40,000,000, ich sum it shall remain. ‘Sec. .—That the $46,000,000 in_ notes for circulation, in addition to such circulation now allowed by law, shall be issued to national banking associations now ‘organs ied, or which may be hereatter organized, and such in creased circulation shall be distributed among the sev- eral States as provided in section | of the act entitled “An ‘act to proyide for the redemption of the three per cent Joan certificates and for an increase of national bank notes,” approved July 12 1870, FREE BANKING, Mr. LOGAN moved 48 an apendment to the sub- stitute of Mr. Merrimon the following :— ‘That so much of the twenty-seventh section of the National Currency act and of the several acts supple- menzary thereto, and such of the provigjons of the a to provide tor the redemption of the three per centum temporary loan certificates, and for the increase of | national bank notes, approved July 12, 1870, and so much | or such parts of Any other act or acts of Congress as limit, or as may be construed to Mmit, or restrict the entire amount of notes for circulation, to be Issued under he said National Currency act and the several acts sup plementary thereto, be and the same are hereby repeased, and that hereafter all associations organized or that thay be organized tor the carrying on the busi- hess of banking wider the proyisio id act shall be free to establish and organize national banks circulation at any place within the several states and Territories of the United States upon the terms and con- ditions and subject to all the Imitations and restri tions now provided by law, except the limitation upon the entire amount ‘of circulation, which i hereby repealed; that each national ‘banking Association now organized or hereatter to be organized shall keep and maintain as a part of its reserve required by iaw one-half part o' coin ceived by li as interest_on bon the United States deposited as security for circulating notes on govern: ment deposits, and that hereatter only one-half of the reserve now ‘prescribed by law for national banking associations shall consist of balances due to an associa tion available for the redemption of its circulating notes | from an association in cities of redemption, and upon which balances ho interest shail be paid. Mr. MORRILL moved a8 an amendment to the first section of the bill as amended by Mr. Wright the following:—“But no part of the same shall be used in tue purchase of bonds of the United States at avove par, nor for the current of the government,” “Mr. BUCKINGHAM, (rep.) of Conn., gave notice that. he would offer as @ substitute the ‘ihintroduced by him in December last, to provide for free bank- ing; to secure an elastic currency; to appreciate national obligations, and to reach specie payments without commercial embarrassment, ‘This pro- vides for the redemption of United States notes, in coin or interest bearing bonds, from and arte Januar, 1875, and for the reaemption of United States bonds bearing jnverest in com at the rate reissue the $44,000,000 reserve, be- | Wricunr said tne rules would not prevent the |- | committee, that it was liable to the ax. Of not jess than six per centum per annum in legal Senier notte 506 the accrued interest in coin. i cussion the Senate at six o’clock adjourned, The possibility of a new issue of inconvertible paper I regard with amazement and anxiety, and, in my judgment, such an issue would be a detri- ment and a shame,— CHARLES SUMNER, INTERSTATE COMMERCE. The Bill Establishing a Hoard of Rail- road Commissioners Passed by the House—Provisions of the Measure, WASHINGTON, March 25, 1874, After disposing of miscellaneous matters the House proceeded to vote on the bill to regulate the commerce by railroad among the several | States, and the bill was passed by yeas 121, nays 116, The bill, as passed, is, with but slight modifica- | tions, the same as reported by Mr. McCrary, (rep.) of lowa, trom the Committee on Railways and Canals, on the 19th of January. It enacts that all railroad lines carrying freight and passengers between diferent States, whether owned by one or by various corporations, shall be regarded as employed in commerce among the several States, apd shail We liable for any violauon of the act. They are forbidden to charge more than @ fair and reasonable rate for the traus- portation of freight or passengers, such rate to be ascertained and fixed by a board of railroad commissioners, to be appointed by the President, with the advice and consent of the Se: ate, and to be residents of each of the nine judicial districts of the United States. They are to be dis- interested persons, apa not to have any interest in the stock, bonds or property of any railroad or any transportation company. This board of rail- road commissioners is to institute a thorough m- | vestigation and inquiry into the rates and toll and compensation charged for transporting ireights and passengers over each of such lines of railroad, and into the reasonableness thereof; and is, as soon as practicable after such’ investiga- tion and inquiry, to prepare ior the owners and operators of such lines a separate schedule of reasonable maximum rates of charges for the transportation of passengers and freight and cars on or over said lines respectively. ‘The schedule ts to be duly authenticated by the Board of Commissioners and to be printed and kept | posted up in each of the oftices and depots of such railroad Company, corporation or persons. They May from time to time and so ojten as circum- stances may require change and revise schedules, and shall give notice of such changes or revisions in the same manner. The vote was & close one and was attended with a good deal ofexcitement, The announcement of the result was hailed with some envausiasm by the friends of the measure. The folowing is the vote in detatl:— Yras—Messrs. Averill, Barrere. barry, Begole, Bundy, Burchard, Burrows, Butler, of Massachusetts; Cain, Gannon, Cason, Olark, of New Jerse ‘ayton, Clements, Cobh, of Ransas;’ Cobuyn, Conger, Conway, Colton, Crounse, Crutchfield, Curtis;’Danford, Darrall Dawes, Donnan, Dunnell, sliott, Fleid, Fort, Poster, Freeman, Frye, Garfield, Gunckel, Hogans, ‘Hale, of Maine; Hvens, Mawiey, of’ Winois; ‘Hays, Hazelton,’ of Wisconsin: Hazelton,’ of New Jer: GF. Hoar, Hodges, Holman, Haskins, Howe, Hubbell, Hunter, Hurlbut, Hyde, Hynes, Kasson, Kendall, Lamport, Law? rence, Lewis, Lourhbridge, Lowe, Luttrell, Lynch, tin, McCrary, MeDIII, of Wisconsin: MoDILL, of MacDougall,’ McKee, MoNulta, Monroe, 'Nnnn, 0 Orth, Packard, Page, Parker, of Missouri; Pelham, Phillips, Poland, Pratt, Purman, Rainey, Ransier, { pier, Ray, Richmond, Robbins, G. H. Roberts, Robinson, of Ross, Rusk, Sa Saylor, of Indiana; Sconeld, Sessions, Shanks, Sheats, Sheldon. Shel wood, Shoemaker, Smart, Smith, of New York; Smith, of Obio; Smith, of | nyder, 3 ¢, Stabkweath lor, h, Todd, Tyner, Wal! hiteley, Williains, of Wisconsin; William: an; Wilson, of Iowa; Wilson, of Woodworth—I21. Navs—Messrs. Adams, Albert, Archer, Arthur, Ashe, Atkins, Banning, Barber, Barnum, Bass, Beck, Bell, Berry. Biery, Bland, Blount, Bowon, Bradley, bright, Bromberg, Buckner, BuMnton, Caldwell, Cessiia, Clark of Missouri, Clymer, Coming, Cook. Creamer, Crooke, Crossland, Dewitt, Durham, Flaredge, Giddings, Glover, Gooch, ‘Hamilton, Hancock, Harmer, Harris of Massachusetts, Harris of Georgia, Harris of Vir ginia, Harrison, Hatcher, Hawley of Connecticut, Here- ford, Herndon, £. R. Hoar, Hooper, Houghton, ifunton, Jewett, Kelly,’ Kellogg, Kapp, Lainar. Lanwing, Law. son. Lowndes, Magee, Marshall, Merriam, Milliken, Mills, Mitchell, Moote, Mveiy, Neal, Nogley, Nesmith, Niblack, Nilos, O’Brien, O'Neil, Parker of New Hampshire, Parsons, Pendleton, Perry, Phelps, Pike, Potter, Randall, Reed, W. R, Roberts, Robinson of Mhmoiks, Saylor of Ohio, Scudder of New York, Scudder of New Jersey, Sener, Sloss, Smith of Pennsylvania, Southard, Speer, 'Standcford, ' Stone, Storm, Townsend, Tremain, Vance, Waldron, Ward of Illinois, Ward of New Jersey, Wheeler. Whitehead Whitehouse, Wnitthorne, Willard’ ot Vermont, Willard of Michigan, Willie, Wilson of Maryland, Wood, Young of Kentucky and Young of Georgia—116, The possibility of a new issue of inconvertible paper Iregard with amazement and anxiety, and, in my judgment, such an issue wowld be a detrt- | | Ment and a shame.—CHARLES SUMNER, THE “MYSTERIOUS MAN.” pee sere Sanborn’s Doings in Massachusctts—Tes- timony of Collector Simmons, of Boston, Formerly Internal Revenue Super- visor—The Instructions of the Treasury Department. WASHINGTON, March 26, 1874, The Committee of Ways and Means gave another hearing to-day in the Sanborn matter. Sanborn’s counsel, Mr. Woodbridge, of Vermont, came before the committee and stated that, after full consulta- tion, it was agreed that his client (Mr. Sanborn) | would present himself before the committee to- morrow and make a written statement and sub- ject himself to the examination of the committee. That arrangement being satisfactory the com- mittee proceeded to hear the statement of William A, Simmons, Collector of Boston, and late Internal Revenue Supervisor for all New England. He ap- peared as a witness on behalf of Sanborn. He | related his connection with the latter, and stated that when Sanborn first came into his office in Boston and told him of his contract and of his right to be aided in his examinations by internal revenue officers he (Simmons) declined to act on that statement, and immediately went to see Mr. Richardson, then Asststant Sécretary of the Treasury, and who was then in boston, and that | he got VEKBAL IxSTRUCTIONS PROM MR. RICHARDSON to assist Sanborn, fe subsequently got a letter from Secretary Koutwell, and still later from Secretary Richardson to the same effect, Under these instructions lic had detailed a revenue detec- tive (Horton) to aid Sanborn, and Horton had con- | tnued to do so whilé he (simmons) remained in the Internal Revenue Department. Upon being pressed by members of the committee as to tis views of the propriety of turning over a salaried oMcer of the government to the employment of a private individua), he said that his rule was always to obey his superior officers. ‘Yo the question as 10 Sanborn’s peculiar qualifications sor the business of collecting derelict. taxes, he replied that San- | born was known in Massachusetts as “THE MYSTERIOUS MAN 3" that he was acquainted with every member of the Legislatures of Massachusetts, Maine and New Hampshire, and tuat he “managed” the business of the railroaas—particulariy the Eastern Rail- | road—in those Legislatures, as a member of the | c In answer to @ question by Mr. | ird Estate,’ Wood, he stated that be had had no conversation with any member o! Congress in regard to the Sanvorn contracts. As to the policy of a law under which such @ contract conid be made, he declined to give an opinion lest he migut be supposed to be casiing a reflection on the members of Congress who voted for it; but he expressed his decided conviction that ninety per cent of the $50,000 col- ; lected in New Engiand under the Sanborn contract would never have been coliected through the regu- lar channels. In reierence to the tax collected from Mr. Williams, of Hartiord, on the essence of Jamaica ginger, he said he had consulted the Commissioner | Of Internal Revenue as to the liability of that prep- aration to the tax on proprietary medicines, and had been instructed by ‘etter, which he read to the mitted, however, that his inquiry did not reier specially to the back tax nor to Sanborn’s connec- tion with the matter, As to the income tax un- paid by persons wno had received CREDIT MOBILIER DIVIDENDS, he stated that his attention had not been called to the matter until after Sanborn had included these taxes among those wich he proposed to recover.” F. M. Green ana 0. F. Presbrey, tue agen.4 em- ployed by Sanborn to work up the Western Rail- road cases, were examined at length. ‘ney both testified that the cases they had dealt with were not matters of record im any of the internal revenue offices, and denied that they had ever represented themselves as agents of the ‘Treasury Department. They admitted, however, that they bad never anneunced themselves as che agents of Sanborn, but hac left parties to draw their own inferences from the secret service credentials which they presented, ‘The committee was in session from ten o'clock | till halt-past four, They will meet to-morrow to hear Sanborn himsel!. The possivitity af a new issug af inconvertible paper I regard with amazement and anciety, and, tn my judgment, such an issue would be a detri- ment and a shame,—OHARLES SUMNER, THE DISTRICT OF COLUMBIA. contin Further Investigation of the Improve- ment of Gové¥nment Property—An Im- perceptible Flagging that Cost $10,000, WASHINGTON, March 26, 1874, The entire morning session of the District of Columbia Investigating Committee was consumed to-day im the examigation of Coloned Theodore Tndiana; Wolfe and | He ad- | Samo, of the United States Engineer Corps, who tesufled at great length concerning the estimates and measurements made by him of work done by the Board of Public Works around the governmeny reservations and government property upon which: measurements the bilis presented by the District authorities against the United States have been based, He was subjected to a protracted and severe cross-examination by Judge Wilson, of the committee, and by the counsel the memoriatists, but nothing was | tor | elicited tending to show that he had made any | other mistakes or errors than those which he him- Sel! had described. He statea that allowing for alk the mistakes to Whici he had adverted the votak amount reported by atm as due the Board by the { federal government was largely inside of the figures actually warranted by the amount of work Samo was notified by the com. t done. Coijonel mittee that di etailed testimony would be required from him in reference to each particular class of Work estimated or measured by him. TEN THOUSAND DOLLARS’ ‘WORTH OF IMPERCEPTIBLE ¥LAGGING. | During the cros: mination of the witness | Judge Wilson asked him if he was willing to stake his reputation as a civil engineer on his measure- ment ol the work charged tor around government reservation No, 17, in Washington city, Samo replied that he ‘would, and, in response to jurther questions, stated that $10,000 worth of | flagging ad been iuid there. Mr, Wuson remarked. | to the committee thut, so far as he could judge from @ personal observation, no work whutever of this nature had been done there. THE AFTERNOON SES of the committee was largely devoted to the read- ing by Mr. Stanton, counsel jor the Board of Public Works, of a written answer to all the several alle- gations of the memioriaiists aguinst the Board. | The reply was very full, and, While admitting sun- dry allegations relative to the acts of the Soard, | was positive and distinct in denial of any and. alk | of the Jjraudulent and criminal acts alleged | in the charges, Mr. Riley, of the firm of Muley és Clark, contractors for filling, testified at length relative to work gone by himself and partner im the northwestern section of the city in filling wit eartha number of vacant lots owned by private parties, which, by reason of stagnant deposits on their surface, tad been declared to be in a state, | of nuisance by the Board of Health, and whicu, by legislative act, the Board of Public Works are re~ quired in all cases to abate when brought to thetr notice, The question arose during the examina- tion of this witness as to What account had beer charged with the cost of this class of work, the same having been charged to the improvement of Rhode Island avenue, on the books of the Bowra. Governor Shepherd stated that the distribution Was a matier decided by the Cnief Engineer, Mr. Cluss, and that that oflicer would be present to- morrow, and would expiain to the committee the reuson of the cost in the bill being so charged. The amount of the bill was $1,150 95, ‘The counsel for the memorialists passed con- | siderable time in criticism of alleged anachronisms in the dates of awards and executions of sundry contracts, SCR CREE ng - The possibility of a new tssue of inconvertidla paper [regard with amazement and anziety, and, in my judgment, such an issue would be a detrts ment and a shame.—CHARLES SUMNER, “THE BEDOUINS OF THE STREET.” signees “aay | Opening of the Newsboys’ New Home—An Entertainment by the Children’s Aid Society—Speeches by William A. Booth, | ©. L. Brace, J. E. Williams, Dr. Potter, W. C. Bryant, Dr. Hitchcoek and George | W. Curtis. | The twentieth anniversary of the Newsboys? Lodging House was celebrated last evening, on the occasion of the opening of the new building just erected at the corner of New Chambers and Wil- liam streets. The programme of the celebration was principally carried out in the schoolroom of the new structure, a very elegant and comfortable hall, which was filied by a large and most respeet- able audience of both sexes and of all ages, from eight toeighty. The meeting was presided over by William A. Booth, President’ of the Children's Aid Society, under whose auspices the building has been erected anc the Institution is generally sustained. After a few introductory remarks by the Presi- dent Mr. Charies L. Brace, Secretary of the so- ciety, read a “brief report,” in which he paid everybody, including himself, several highly sea- soned compliments, the best deserved of which, according to the unanimous vote of the most cred- ible witnesses, the newsboys themselves, were \ honestly bestowed on the Superintendent and Ma- | tron of the institution, Mr. and Mrs, O’Connor. | Rev. Dr. Potter said he had come prepared to | talk to the boys, and not to sucha grown-up au- | dience as that before him. As it was, they were | all there for a common purpose, to say whatever | might have been said by anybody elsewhere— | that they had no donbt about the wis- | dom and economy with which the great work | of the society had been done. There are a | great many people who are doing the same sort of work, but its wisdom may be doubted; but this was one of the most timely, as it was the wisest, enterprise undertaken in the history of charity in | theland. He feared that im New York we are in danger of encouraging pauperism by the very | weaith that is being poured out for its suppression, and the Doctor then reprobated the indiscriminate charity irom which the system of the Children’s Aid Society wholly aifered. He praised the Newsboys’ Home because it admitted noae who had homes of their own, for the most sacred insti- tution on God’s footstool is the home of the human family. We must teach boys and men and women wo help themselves, and we must teach them also that the sucredest piace in the world is the home of the family. The body of society is like the phys- | teal body in that there are unhealthy spots to which the blood rushes, as it-sometimes does, to & man’s bead and causes apoplexy. ‘The surplus population of the country rushes into the great city and causes apoplexy there; and the only cure for that is to redistribute it, us this society is doing, by sending the uncared-for children to | homesin the West, The most that the Doctor knew avout charity, he said, he had learned from the words and the works of Mr. Brace, whose fu- ture fate would be takeu care of by the boys he had taken in and done for, each,of whom would Kindly turn himself into a monument of Mr. Brace’s virtues. The Doctor had great taith in newsboys, whose general integrity he illustrated by an anecdote showing that a particular | newsboy was much more honest tuan Dr. | Potter’s Christian suspicions of human nature enerally had allowed him to beliove; but, accord- ing to his own story, the Doctor’s astonishment at the boy’s honesty Was as nothing compared with | that newsboy’s astonishment at the Doctor's generosity when the poor lad was rewarded and encouraged to continue ii the narrow path of virtue by receiving the munificent gratuity of six cents from Dr. Potter's private funds, The venerable William Callen Bryant was “re- minded of a little story’? of the poet Rogers, who Kept a quantity of blanks to be sept out declining invitations to social anc other parties. The blanks began with, “Pity me, for lam obliged to decline your invitation.”’ On one occasion he sent his ser- Vant for a blank, but the latter recurned, saying, “The pity-me’s are all gone out.” Ihave wished this evening (said Mr. Bryant) that | had a “pity- me” to send you. I, too, expected to have to talk to the boys instead of to you. I had prepared a speech in my mind, and you'll never know now tine a speech it was. (Laughter.) Now, instead of congratulating the boys I will congratulate you. I congratulate you upon this beautiful home you have built up for them—this handsome club that is provided for them, for it ts aclub, and a club of the better sort, one without the temptations that beset the members of other clubs. I was about to say to those boys that many of them may by anu by occupy prominent stations in society, and their duty in that case would be, if any clubs existed in the community. in want of help or of homes, to repay the generosity they had experienced and deal out liberally of their means to institutions of this sort. We learn from the treasurer of this society that there is a debt of $90,000 impending over this branch of the institution, [commend to you the | care of that debt. Mr. Bryant was followed by the Rey. Dr. Hitch- cock, President of the Union Theological Semi- nary, and Mr. George W. Curtis, both of whom spoke briefly, witttly and pathetically. ‘*Mahom- ; etanism,” ‘said Dr. Hitchceck, “has shamed | Christianity. It bas reached the Bedouins of the desert. Cannot Christianity reach the Bedouins of the street 7”? | _ Alter the speeches and the music the audience rose and proceeded on a tour of inspection throt the building, warmly applauding everything; deed, they couid not weil do otherwise, THE FUNERAL OF JUDGE DENT. St. Lovts, March 26, 1874, ‘The remains of Judge Lewis Dent arrived here tis afternoon and were taken to the residence of Colonel John C. Dent, where the funeral services | were performea by the Rev, Kuward Coan, assist- ant rector of Trinity church. A large number of old citizens were in altendance, and the pallbear- ers were selected irom among the boynood com. panions of the deceased, Aiter a brief service the remains were conveyed to Bellefontaine Cemetery, followed by a large concourse of the friends of the Jate Judge. | | IMITATING THE GUILLOTINE, | Boston, March 26, 1874. | At Sharon, Mass., yesterday, William Miller, aged thirty-four, a cabinetmaker, unmarried, nearly severed his neck with @ scythe, which he had suspended in grooves, guillotine fashion, some feet above a blocs, Sh Which he reclined ms head, Several pounds of old tron were attached to the scythe, ich was caused to fall edge downward by pulling a cord, “lier was insane ram aaitens ‘Of the bral. pitta