The New York Herald Newspaper, March 31, 1874, Page 3

WASHINGTON, |= = ser Inflationists and Free Banking Advo- cates in the Senate, Morton’s Tactics in Dissecte-' ing the Finance Bill. OVERRIDING THE “REDEMPTIONISTS,” Hopeless Attitude of Democrats and “Hard Cash” Republicans. A Clear Field Now for $1,000,000,000 of Currency. The possibility af a new issue of tnconvertible paper I regard with amazement and anxiety, and, tn my judgment, such an issue woukl be a detri- ment and a shame.—CHARLES SUMNER, Wasninaton, March 30, 1874. Morton and Logan Slicing Up the Cur. rency Bill in the Senate. In the Senate to-day another very important vote was taken, which resuited in the carrying of Senator Morton’s amendment to strike out the Second section of the billof the committee by a firm vete As stated in these correspondence of yesterday, the second section was defeated by a vote of 28 to 23, which ailirmative vote compre+ hended the working majority, as heretofore shown, On the question pertaining to the first section and Subsequent amendments. Nearly two hours were consumed in debate upon parliamentary rules as to the precedence of amendments ana the order they should tuke in being considered. This was to gain time mainly, it is thought, Considerable difference of opinion has prevatied as to the inter- pretation to be given to the rules on amend- ments, and nence Acting Vice President Carpenter delivered a jong written opinion, which seemed to be opposed to the amendment argued by Sen- | ator Sherman, and leaned iu the direction of Sen- ator Morton’s position, Senator Carpenter said it ‘Was the result 0! his examination of ali the authorl- ties which could be found, and a(ter consuitation with some who were well versed in the decision of these questions. He invited the Senate, hoever, in case of their disagreement with his ruling, to change the ruling by appeal. Senator Thurman accordingly was about to insist on such appeal at @ subsequent application of the same ruling on an amendment of Senator Hamlin, and a yea and nay vote was moved, but as there was an evident dis- position in the Senate to avoid this unpleasant ex- tremity, Senator Hamlin, to dispense with the Mecessity, withdrew his amendment. The more prominent features of the day’s business were the fruitless efforts of Senator Sherman to worry and entangle the opposition and to retard them in sweeping rapidly over the eourse, which it was acknowledged they had the power todo. In this he was occasionally assisted by Senator Thurman. Senators Conkling and Fenton, as well as others, faia nothing during the discussion, Finally, when they reached the determination to call yeas and mays on the amendment of Senator Scott, provid- ing for the redemption of United States notes: by a ten year old bond, in lieu of gold colin and in de- nominations of $100, to be paid inexchange for legal tenders, this was promptly strangled by a vote of 37 to 16. There came along in comparative sort order for final decision the amendment of Senator Frelinghuysen, which provided a bond to raise gold coin to redeem legal tenders and for the accumulation of gold coin in the Treasury for that pur- pose. It, too, soon received the coup de grace, and thea the great leading issue, which was to test the strength of Senator Morton’s position, was brought up for decision, and the sequel proved that he had not counted without his host, but that his follow. ing and the working majority of Ove at his back, of which these despatches have given a forecast from the first, were worthy of the confidence placed in them. This was the event of the day, and it seemed to carry hopelessness to the opposi- tion; for after the vote Senator Thurman, as also Senator Sherman, said in so many words that further resistance Was Of no use, as the majority could do anything they pleased, even so far as in- flation of the currency up to $1,000,000,000 if they chose, and he renewed his prophecy, or rather arithmetical calculation, as he saidit more prop- erly could be considered, that the country was on the verge of financial embarrassment aud bank- ruptcy. This was regarded by the other side as being a rather loity flight of his imagination, oras @ startling admouition only, in so far as it evi- Genced his honest determination to do all he could in the way of argument to stay the onward march ofthe opposition, not ‘down to the sea,’’ but, as has been figuratively expressed by Senator Conk- ling, ‘to an ocean of irredeemable currency, with- out shore and of unfathomed depth.” This brought out arejoinder from the opposition in the person of Senator Logan, who, as one of their mouth- pieces, loudly protested that the Senators on their side were as much interested in tie welfare of the country as the others, and he claimed there was no reason to apprehend the horrible dangers foreshadowed by Senator Sherman, As a finishing aeath blow to the Senate Finance Com- Mittee bill Senator Morton moved that the fourth | minus the nominal suzerainty of Turkey. section be stricken out. Senator Sherman en- deavored to plead for its salvation, and advocated its modification, so as to be in keeping with the first section, a8 adopted upon amendment, but from opposition to admonition, and then down to supplication almost, as the range of the policy adopted by the “hard cash men” had changed, atep by step, to the last sad alternative, still the suaviter in modo seemed to have no eifect, and tne unrelenting determination of the Ministerial executioners upon the bill was adhered to, and the intention accordingly was signified that nothing less than the striking out of the fourth section would do, This would have been vocomplished before adjournment but for the delay occasioned by the debate on the parliamen- tary question and the lateness of the hour, Senator Morton’s amendment will be adopted by the same vote as that on the second section, and that will be the first business to be disposed of on the reassembling of the Senate. The next thing in order will be action on the amendment of Senator Logan providing for free banking, which Will be lost if urged to a vote, as he appears de- termined to do, by a majority of at least three votes, and perhaps more. This will arise from the known nonconcurrence of Senators Merrimon, McCreery and Bogy with the Dill, unless some limitation by convertibility shall be provided, ‘To these may possibly be added Senators Goldthwaite and Dennis, whieh, in the ag- gregate vote as it now stands, would take possibly five votes from the working majority, leaving twenty-three in favor of it and twenty- eight against it, As matiers now stand, unless a cnange occurs, this will be the result of the vote; but from the foregoing reliable facts it will be seen that the doom of free banking is settled in the Senate for the present, The vote on striking out the second section of the bill showed that six absent Senators—Brownlow, ‘West, Cameron, Clayton, Edmunds and Stockton— Were paired with Flanagan, Buckingham, Scott, Kelley, Wright and Ransom in the order name! Those absent were Alcorn, Boutwell, Dorsey, Ferry of Connecticut, Gilbert, Gotdthwaite, Hamilton of Maryland, Lewis and stevenson; not voting, McCreery, Six democrats—payard, Cooper, Davis, Hagar, Sauisbury and Thur- man—and two liberal republicans—Schurz and Fenton—voted against striking out, and six democrats—Bogy, Dennis, Gordon, Johnston, Mer- rimon and Norwood—and one liberal repuplican (Upton) voted for striking out. Of those pairea three are democrats and nine republicans, and of the absentees, or not voting, four were democrats and six republicans, 80 that the democratic mem- gers of the Senate are just as equaily divided in jit NEW YORK HERALD, TUESDAY, MARCH 31, 1874.—-TRIPLE SHEET. Jaaten itself, the republican and democratic parties will find enough in the action of their respective representatives in Con- gress to wrangle about without charging the e of Inflation to either party. e probable action of the Senate upon Senator Merrimon’s amendment continues without change, as heretofore advised. A vote upon it will be reached to-morrow, and it will pass with the almost solid vote of the majority, who have been Aactifg under the lead- ership of Senators Morton, Ferry and Logan. The opposition to this division” or the | Senatorial body concedes, in their conversation to- Hight, that they cannot carry anything in the bill, and almost acknowledged the game in the course of their remarks in the Senate to-day, The fact is that the fate of the bill will be annihilation, as every section of it, in the shape in which it came from the committee, will be wiped out, Thus the “specie resumptionists’”’ will atone for the strong ,and manly difference of opinion they have sus- tained against the “more money” side, and it looks very much as though the latter intended to inflict a kind of retributive vengeance on them tor the many hard things they have said against the so- called inflationists, which term Senator Logan re- Dudiated in to-day’s debate, Thus has the sceptre of fnancial ministry fallen from the hands of Sen- ator Sherman, who, a8 Chairman of the Committee on Finance in the Senate, has been regarded prior to this time as an authority and a leader, and with this fatality, also, that not a vestige of his bill will be left to tell the tale of its digest and emanation from the committee, before whom it had almost as trying an ordeal at the hands of its iriends before its début as it has since had at the hands of its enc, miea iu open Senate, Proposed Action of the Senate on the House Currency Clreulation Bill. The bill which passed the House fixing the limit of United States notes for circulation at $400,000,000 having been sent to the Senate, was, m the ab- sence of Senator Morton, who leads the majority in favor of increased currency, referred to the Committee on Finance, and thug virtually taken out of the hands of the Senators, A motion will be made, in tue Morning hour to-morrow, to dis- charge tie Committee from the furtner considera- | ton of © Bill, which, when passed, will restore it to the calendar of bills to be acted upon by the | Senate, When the various sections of the bill re- ported by the chairman of the Finance Committee have been disposed of, a completed bill, embodying this and other provisions, is to be placed upon its passage at once, without any recourse to the Com- mittee, and be carried at once, without any more | dclay and discussion than are absolujely unavoid- | able. It is not known yet what shape iree bank- ing wiil take to insure its being carried in the Sen- ate, but if 1t cannot be had pure and simple, which is almost to @ certainty the case, some modifica- tion will be agreed to and possibly one which will not very widely differ from the bil But it is just as possible, so the best authorities say, that even- tually some basis of convertibility will be secured, which will make the measure more acceptable than in its present baldness, ag proposed py Sen- ator Logau’s amendment. Senator Sherman’s third section, substituting Maine for New York in reiation to the apportionment Of national bank circulation, may be one of the most likely of the measuyes to pe adopted. The question of the three-sixty-five interconvertible bond or a five per per cent bond at parin curreucy are among the other methods suggested as affording a way out or the present dificulty, The possibility of a new issue of tnconvertible paper I regard with amazement and anziety, and, in my judgment, such an issue would be a detri- ment and a shame,—CHARLES SUMNER, Business in the House—Probable Action of the New Engiand Members on Free Banking. The House consumed Its session to-day in con- sidering the bill tor the government to assume contro! of the Louisville and Portland Canal, and a8 unfinished business it goes over until to-mor- row, when it is probable the better portion of the day will be spent in its final consideration, and | some other pending business will prevent a re- sumption of debate on the Free Banyiug bill until Wednesday. It is asserted to-night that the New England representatives will not vote solidly against free banking. | he Tarkey-Roumania Question—Opin- ions of tne Diplomats. The attention of the diplomatic circles to-day monopolized by the articie in the HERALD of yesterday received this morning, relative to an in- tricate and menacing question of European poli- tics; as to the absolute mght which Roumania possessed to sign customs treaties with other na- tions, ‘The cable despatch relative to the reported trouble between Roumania and Turkey over this question is fully credited, as such a contingency might have arisen from the trip which Saayk Pacha is actually making around the principal money markets of Europe with the hope to get | some funds for the relief of the Turkish exchequer. To snatch from Roumania her exclusive and nat- | ural right to determine the Custom House reguia- vions over her important and daily growing trade with foreign nations, would prove a good haul for the Manometan wandering financier, but if such are his designs, the prominent diplomats say | they will be thwarted. More than that, was said if Turkey attempted really | to interfere with this Custom House question she would positively go backwards, and that she might reopen the Eastern question by refusing to Roumania the exercise of a right which she al- ways enjoyed and which was guaranteed to her by the Paris treaty of 1856 and by the Convention of 1858. Roumania, it is claimed, has always en- joyed legally a perfect national independence, The right of declining peace and war and of treaty making, all these sovereign rights, had been recog- | mized by the Sultansin many treaties, and their exercise had not been originated, but simply guaranteed, by the European Powers in 1856, Relative to this special and newly agitatea ques- tion of Custom House tariffs it was recalled that as early as 1588 the Roumantians had concluded a | commercial treaty with Queen Elizabeth of Eng- Jand; later, in October, 1842; then in 1855, and again in 1365, Roumania had signed with Austria extradition, telegraphic and other com- mercial treaties without the least interference of or irom Turkey. Further information 1s anxiously | awaited, Condition of the Appropriation Bills. The following is the present condition of this year’s appropriation bills:—The Naval Emergency Extra Appropriation bill, and the Army, Navy and Forti- fication bills have passed both houses and become laws. The Executive Judicial Appropriation bill is now under consideration by the House. The Indian and Military Academy Appropriation bills | have been reported but, not yet reached for action. The Defictency bill will be reported this week, and then the Pension, Postal, Consular and Diplomatic, River and Harbor and sundry civil expenses bills willbe prepared by the committee and reported to the House In the order named, In the bills already reported there has been a reduction of between $11,000,000 and $12,000,000 from the revised estimates of the departments, and the committee confidently expect to be able to affect an aggregate saving of $25,000,000 in the total appropriations this year as compared with those of the last session. The possibility of a new issue of inconvertibie paper Tregarad with amazement and anziety, and, in my judgment, such an issue would be a detri- ment and @ shame.—CHARLES SUMNER, Transportation on Railroads, The bill to regulate transportation on railroads, introduced in the House of Representatives by Mr. Shoemaker, of Pennsylvania, provides for the appointment by the President of three Commis- sioners, at a salary of $2,500 per annum, to serve for one year, whose duty it shall be to classify the different classes of freight on which the several railroads are required to fx their tariff of treight, giving publicity to the same by conspicuously post- ing the same in the offices and depots; and no change shall be made in such tariffs without thirty Gays’ novice of such change, by posting such notices as aforesaid, any deviation from the regular Tates being punishable by a fine of not less than $100 nor more than $1,000, The Commissioners are also required to arrange a general code of rail. | | and Labor, in ie ways and The posstditity of a new tesue of inoonvertidle paper Iregara with amazement and anxiety, and, tn my judgment, such an tesue would ve a detrt- ment and a shame.—CHARLES SUMNER. CURRENCY DEBATE IN CONGRESS. The Inflation Legislation in the Senate. WASHINGTON, March 30, 1874, The morning hour having expired the Senate resumed the consideration of the bill to provide for the redemption and reissue of United States notes and for free banking. The pending question being on the amendment of Mr. Hamiin to strike out the Ist of January, 1876, as the time for a return to specie payment and insert January 1, 1877, Mr. Morton raised the point that the amendment was not in order at this ume, NO REDEMPTION IN COIN, After some discussion Mr. Hamlin withdrew his amendment, and the question then recurred on the motion of Mr. Morton to strike out the second section of the bill reported by the commipice, which provides that on the lst of January, 1576, United States notes shall be redeemed 1 cou or in- terest bearing bonds, Mr. Pratt, (rep.) of Ind., read:-trom a mapu- script his views in opposition to the motion to strike out, Mr. SHERMAN (rep.), of Ohio, argued in favor of retaining the section, which, he said, Was the ost important feature of the bill, essrs. MORTON and FERRY, of Michigan, spoke in favor of striking out the section. A vote Was then taken on Mr. Morton’s motion to strike out the second section, and 1t was ado pted—yeas 28, nays 23—as follow: Yeas—Mewrs, Allison, Bogy,, Boreman, Carpenter, Conover, Dennis, Ferry ‘of Michigan, Gordon, Harvey, Hitchcock, Howe, Iugalls, Johnston, ‘Logan, McCreery, Merrimon, Mitchell, Mor‘on, Norwood, Oglesby, Patter: son, Vease, Ramsey, Robertson, Spencer, Sprague, Tipton and Windom—2s. Nays—Messrs. Anthony, Bayard, Chandler, Conkling, Cooper, Cragin, Davis,’ Fenton, Frelinghuysen, Hager, Hamilton of Texas, Hamlin, Jones, Morrill of Maine, Morrill ot Vermont, Pratt, Sargent Saulsbury, Schurz, Sherman, Stewart, Thurman and Wadieigh—23. Messrs. Buckingham, Flanagan, Kelly, Scott, Stockton, Edmunas and Stevenson, who would have voted in the negative, were paired with Messrs, West, Brownlow, Clayton, Cameron, Ram- sey, Wright and Dorsey, who would have voted in the ailirmative, SIXTY MILLIONS MORE CURRENCY. Mr, Scort, (rep.) 01 Pa., moved an amendment to the amendment of Mr. Merrimon, jor an in- crease in the national bank circwation to the ex- tent of $46,000,000, an aduitional section providing that on the Ist day of January, 1877, the Secretary of the Treasury shall bay on demand, at the ofices of the Treasurer ot tne United States and the 4 sistant Treasurers at New York, Ptuladelphia, Cin- cinnati, St. Louis and New Orleans, to any holders of United States notes to the amount oj 2100 or any multiple thereof, in exchange for such notes, an equal amount of coupon or registered Londs of the United States, in such form as he piay pre- scribe and of the denomination of $60 or some mul- uple of that sum, redeemable in coin alter ten years from the date of their issue, at the pleasure of the United states, bearing five per cent inter- est. Rejected—Yeas 6, nays 37. BUY GOLD WITH SURPLUS REVENUE, Mr. FRELINGHUYSEN, (rep.) of N.J., moved an amendment that the surplus revenues of the United States shall be used tor the purpose of ac- cumulating gold coin im tne Treasury, the Secre- tary of the Treasury being, nevertheless, at liberty to sell such ampunt of said coin as may be neces- sary in order fo meet the demands jor currenc: for which the receipts of currency are not suiti- cient, and autuorizing the Secretary of the Treas- ury to issue and sell coupon or registered bonds of the United States not exceeding $50,000,000 of the denomination of $50 or some multiple of that sum, redeemable at the pleasure of the United tates afier ten years and bearing five per cent in- terest, the proceeds o1 such bonds to be used to pur- chase gold coin, which shall be employed to redeem legal tender notes, the President and the Secretary of the Treasury to fix the time for such redemption after having accumulated suiicient gold coin, the legal tender notes so redeemed not to be reissued except in exchange for gold coin at par. Provided that, 1f after the commencement ofsaid redemption the government shall be unable toredeem a part of vhe iegal tenders in gold coin, the Secretary of the ‘Treastiry.may issue the requisite amount 61 bonds of the same character as above and redeem such part with those bonds Rejected—Yeas 14, nays 29. Mr, MORTON moved to strike out the fourth sec tion of the bill, which provides for the retirement oi the United States notes, in the ratio of seventy per cent of additional national bank notes author- ized by the bill. Mr. SHERMAN said he desired to offer an amend- meut to the section berore the vote was taken to strike it out, Such an amendment under the old usages of the Senate was in order before the mo- tion to strike out; but the Chair, this morning, hav- | ing ruled asimilar amendment of the gentieman | from Maine (Mr. Hamlin) out of order, he (Mr. Sherman) thought the ruling erroneous and that it would lead to complications hereatter, The sec- tion of the bill proposed to be stricken out pro- vided that the reurement of seventy-five per cent of legal tenders should be in further reduction of the $352,000,000 authorized in the previous sec. tion, The Senate, however, struck out tune $382,000,000 in the first section and inserted $400,000,000, and now he (Mr. Sherman) would move to insert $40,000,000 in the fourth section, in place of $3$2,000,000, but could not do so under the ruling of the Chair, as the motion to strike out the Wwhoie section was pending, The CuAIR said he saw the diMeculty, but had made the ruling in accordance with the rules of the Senate as he understood them. Mr. HAMLIN, (rep.) Of Me., said the ruling of the Chair would reverse the practice of the Senate for many years past. After some discussion upon the ruling of the Chair and the practice of the Senate Mr. LOGAN said this whole Finagce bill was a scheme for con- traction, and he hoped the section would be stricken out. THE Cuatk announced Mr. Wadleigh, of New Hampshire, as a member of the Committee on Privi- leges and Elections, and Mr. Frelingnuysen, of New Jersey, as a member of the Committee on Education place of Mr. Sumner, deceased. Mr. McCreery, of Kentucky, Was also announced as a member of the Conference Committee on the bill in relation to the payment of certain Indian an- nuities in place gi My, Stevenson, called home by the death of a friend. Without reaching a vote on Mr. Morton's mo- tion to strike out the fourth section of the Finance bill the Senate, on the motion of Mr. Morriil, of Maine, at flve o’clock proceeded to the considera- Vion of executive business, and, after a short time, the doors were reopened and the Senate ad- journed, paper [regard with amazement and anxiety, and, inmy judgment, such an issue would be a detri- ment and a shame,—CHARLES SUMNER, THE STEPHENS MURDER IN MEXICO. a Executive Inquiry Relative to the As: sination of Rev. John Stephens. By mail from Mexico city we have the following telegraphic correspondence between the Mexican Rey. Joun Stephens, a Boston clergyman of tho American Board of Foreign Missions :— GUADALAJARA, March 3, 1874. CITIZEN MINISTER OF THE INTERIOR :— In Ahualuico last night the American Protes- tant minister, John Stephens, was murdered, i | the midst ot a mob of more than 390 persons, to the cry of “Viva el cura!” breaking open the doors | of his house, In the tumult a Mexican citizen, whose name is not Known, was also killed. 1 nave sent to that town 200 men to restore order and arrest and punish the guilty, Please inform te Citizen President. IGNACIO L, VALLARTA, jovernor State of Jalisco, INQUIRY. Mexico, March 3, 1874. CITIZEN GOVERNOR OF JALISCO ;— The Citizen President has been informed of the uniortunate occurrences which took place in Ahualulco last night, and of the measures which you have taken to restore order and arrest and punish the guilty parties referred to in your tele- gram of to-day, He requests you through me to communicate the result of the steps taken aud everything connected with this matter, CAYETANO GOMEZ Y PEREZ, REPORT: GUADALAJARA, March 4, 1874, CITIZEN MINISTES THE [INTERIOR :— Abualuico is garrisoned by 300 men and public order is preserved, Several parties implicated in the murder of Stephens have been arresied, and among them the parish priests of Ahualnico and Teucuitian, Ihe Judge of Tequila has been or- dered to proceed to Ahualulco with an extra force of clerks to try them, and conciude the investiga- tion as quickly as possible. Please inform the Citizen President. IGNACIO L. VALLARTA, MEXICO, March 4, 1874, CITIZEN GOVERNOR OF JALISCO:— ‘the Citizen President lias been informed of the result of the measures taken by the government under your worthy charge, on account of the occurrences at Ahualulco on the night ot the 1st inst. He hopes that, at the conciusion of the proper trial, those who are proven guilty will be promptly and severely punished; and again re- quests you to continue to inform him of everything which may occur in this disagreeable atfair, so that all the circumstances may be speedily known and the measures in the sphere of this govern- ment be taken, CAYETANO GOMEZ PEREZ, RESULT. GUADALAJARA, March 7, 1874. CrrizeN MINisTER OF THE INTERIO! The Judge in the case of the murderers of Ste phens declared that he was disqualified to prot cute the trial and turned it over to the political au- thority, avco.ding to article 8 of the law of the 8d of May last. That authority pursues the investiga- tion with activity. The priest of Teuchitian was set at liberty Jor lack of Drool against him; that of The possibility of a@ new tssue af tneonvertidle | authorities upon the subject of the murder of the | ‘as the republicans; and, a0 road signals and the rail-oads to adopt the same. | Ahualuico was declared f bill wag referred to the Committee on Railx| Please wnlorm the Citizen | hibited remarkable diligence in getting it from sev- TO) risoned. frttaat moranes | IGNACIO L. VALLARTA, DEPARTMENT OF THE INTERIOR, 1, 1814, 00, March Crrmex GovERNon orf eel Ihave informed the Citizen President of the facta communicated in your telegram of to-day, ang i money he directs me to say to you that ne has dée with positive satisfaction the activity and judg- ment with which the government ‘under ‘your | wortey. charge is Reseees ing for the preservation of order in the State and the puntshment of the gailty, whatever may be the pretext they invoke; that he een thanks you for the promptness with which you have communicated these facts and | requests you to continue to do so, tn order that this government may take the steps rendered neces- sary by the circumstances for the preservation of peace, and to render effective the guarantees so Seriously endangered by some bad ans, CAYETANO GOMEZ PEREZ, ‘ Minister of the interior, The possibility of a new issue af inconvertidle | paper I regard with amazement and anxiety, and, tm my opinion, such an tssue would be a detri- ment and a shame.—CHARLES SUMNER, THE COLLECTION OF NEWS. Mysterious Influence of the New York Herald—A Reporter Examined Before the Grand Jury Yesterday—The Herald Complimented by That Body—The Eighth Ward Nuisance and Whut It Brought Forth. Yesterday morning a HERALD reporter was sum- moned before the Grand Jury, sitting in the brown stone building adjoining the new Court House, to give evidence as to who wrote and from what sources Of information came an article pdblished in last Friday's HeRALp, headed “The Eighth Ward Shame,” and giving details of the examination be- fore the Grand Jury of Police Commissioner Gard- ner and Captain Williams as well as of the finding of indictments against a number of the owners, Occupants and lessees of several houses of ul fame in the Kighth ward, The Heap reporter appeared punctually at the hour named, handed his subpoena to the judicial looking old gentleman at the door and entered the witness’ room of the Grand Inquest. In it were @ number of policemen, some gentlemen and @ number of singularly seedy characters, two detectives, and, divided by a railing from the crowd, & pretty woman gorgeously dressed, and another with a number of squailing cluldren at her knee. The proceedings during the long wait which | ensued were singularly monotonous, Two or three of the policemen found variety in spitting at a mark on the wall; several more, who had been summoned to appear in a matter of inquiry against that mystical personage kuown as Jolin Doe, were at each moment asking the cierk who Jolin Doe was. ‘The time passed on in this way until the name of the HERALD reporter was called in a loud voice, and he entered a large, rather dimly lighted room, | Jurnished mMeanly, with two long tables crossed by @ sinaller One at the end, at which tables sat that august body known as the Grand Jury. The Chairman, Mr. Robert S. Hone, swore the reporter and then requested him to sit down on a chair placed between the tables and in tui view of the respeCtabie body. The examination then be- gan and ran aa follows :— Mr. HONK (showing a slip of the article men- monen above)—You recognize that article, do you not REroRTER—I saw it in the HERALD; yes. Mr. Hoxk—Were you uot the writer of that article? RePorTER—I decline, respectfully, to answer the question Mr, Hone—Why do you refuse to answer? RerorxTeR—ecause 1 do not wish vo criminate myseif. Mr. Honr—Was the information contained in that article obtained irom any memver of the Grand Jury? - REVORTER—From what I have learned about it I can assure you it was not Mr. HONE—Who was {t obtained from? RErORTER—| must again dectine to answer. Mr. Hone—You do not, perhaps, reaize that this body has the power to make you answer or puaish you tor not doing so. We have subpwnaed you to come ere because we wish to fnd out who it is that reveals the proceedings of this | Grand Jury. You know, of course, that all | that goes on here is secret, while, on the | other hand, the account of the proceedings which took piace here on Thursday in relation to the Eighth ward houses of 111 tame appeared alone in the HERALD of Friday. ‘This account was so re- Murkabiy correct and so minutely true in every particular that it is clear there is a leakage tn some quarter where there should not be any. We wisn Lo ascertain Where this leakage is, for the simipie reason that we do not wish to be under the impu- tation that any one of our number gave this intor- mation fo you. On the day of the publication of the article in question we were all much surprised that 1t snould have been so correct, and deter- mined to inquire into it. For this reason we have summoned you here, Now, then, I must ask you another question. Did you get this information from Commissioner Gardner? REPORTER—I must decline to answer, Mr. HONE—What was the nature of your conver- | sation with Mr. Gardner when he leit this room | aiter giving his testimony ? RerorTex—I don’t admit that I myself got any information on the subject, nor that I nad any con- versation with Mr. Gardner. Mr. HONE—vid you see Mr. Gardner on that day? Rerortex—I don't beiteve | did. Mr. HonE—Did Captain Williams give you the information ? RePoRTER—I decline to answer. ANOTHER GRAND JUROR—You are aware, are you not, that by publishing the secrets of the Grand Jury room, by giving information that parties had been indicted, the writer oi this article 1s llabie to punishment ? RerorTeR—Yes. ‘THe GRand JUROR—And you know that the Grand Jury is a body clothed with great power? KErorter—t do, Lam sorry to sity. JUROR (sotto voce) —He’s sorry we have the power. | Mr. HonE—Did you see Captain Williams that aay? FPORTER—J decline to answer. Mr. Hont—Why? RerorTER—Because I may criminate myself. ANOTHER JUROR—You cannot criminate yourself | in a matter like this. RePoRTER—1 can certatnly criminate myself if I am lable to punishinent for pubiishing such an ar- ucle, There was a pause of a few moments. Mr, Hone—You in your business consider your- ee Jn gettung news wherever you can nd ity KEPORTER—Yes; in an honorable way. Mr. Hone—Did you see Mr. Allen, the Assistant District Attorney, on that day? REPORTER—I decline to answer. Mr. HongE—Did he not send you for the informa- tion you wanted to Mr. Ciark, the clerk of the District Attorney ? REPORTER—I decline to auswer. Mr. Hone—Did you receive any instructions from your office that you should refuse to give in- formation as to the authorship of this article? REPORTER—NO particular instructions; but it is the rule not to reveal the author of any article, Mr. HonE—And 18 it the rue notte give the names of the informants REPORTER—It 18; lor any person who gives in- formation of this Kina gives it under the seal of secrecy, and it would evidently be uniair to norm on such @ person. ir, HoNE—Your reasons may be good, but we are here avody whose proceedings are secret, Butin this matter it concerns our own honor, and we are bound to believe that you either got the information irom one of us or that you ex- eral parties that had been here. The testimony of Mr, Gardner and Captain Williams was sa correctly and circumstantially given in the HkeraLD that we must believe one or the other course was taken. And {rom you we desired to find out whicn and who is the guilty party. RerorreR—I cannot give the information. Mr. Hone—Vhen, a3 we labor under the stigma of having given the information ourselves, ‘would it be inconsistent with your duties to exonerate us irom the suspicion by saying so in tue HERALD ? RePoRTER—4JS | am informed the facts did not come from the Grand Jury no doubt the HERALD would be willing to so state. The reporter was requested to retire for a mo- | Ment and did so, being recalled oes after. Mr. Hone then said that, as the Grand Jury could not get the name of the informant, the gentlemen composing 1t would be pieased if the HERALD would exonerate them from the suspicion of hav- ing iad the facts public, ‘The matter here ended, The Grand Jury 18 composed of the following gentlemen:—Foreman, Kovert 8. Hone, No, 247 Fitth avenue; Secretary, Samuel J. Penniman, No. 44 East Lwenty-second street; Joseph W, Gim- brede, No. 10$ West Thirteenth street; John Hy Abeel, No. 127 Second avenue; Eugene Peyrotte, No. 116 First avenue; Cornelius ©. Colgate, No, 29 East Twenty-second street; Edward Wight, No. 20 University piace; Scllm Marks, No. 2v West Fif- teenth street; Edward Baldwin, Jr., No. 41 wast Twenty-first street; Benjamin L. Swan, Jr., No. 323 West Fifty-seven‘h street; John H. Nichols, No, 306 West Thirty-fourth street; Asher T. Meyer, No, 72 ‘West Forty-ninth street; Jacques Guedin,’ No. 210 East Sixteenth street; Kugene Lentiltran, No, 55 Irving place; Amos D, Ashmead, No. 1,459 Third avenue ; John F. Carle, No. 218 East Twelfth street ; William Adams, Jr., No. 74 Perry street; Daniel O'Conner, No, 42 West Seventeenth street; Lucius 8. Comstock, No. 34 West Fortieth street; John De Ruiter, No. 57 Beaver street; James A. Smith, No. 26 Irving place. POSTPONEMENT OF LECTURE, Toe lecture of the Rev, Dr. Porteous, on “The Attitude of the Churches Toward Public Amuse- ments"? was postponed last evening on account of the lecturer’s Ulness and the smail audience in at+ tendauce, - THE FINANCIAL POLICY. ee Letter from Judge Picxrepont to the Chairman of the Comm'ttee on Fi- mance. The following letter has bee forwarded by Plerrepont to the chairman of the Committee Oo Finance :— To the Hon. JouN SHERMAN, Chairman of the Fi- nance Commuttee of the Senate :— With the returning spring trade does not revive Much, and ali the great industries of the country are paralyze Distrust of the future causes the dimeuity, Men who have money will not risk it in new enterprises while the Hnancial policy of the goverpment is uncertain, Congress has been In session nearly four months, and men of business have not yet discovered what the financial plan of the Secretary of the Treasury is, Alter Many years ol profound peace, abundant harvests, general health and vast resources, it would seera possible to devise @ system of relief from the disturbed condition of our finances, Able Senators m their place, and learned writers everywhere, have demonstrated tuat irredeemable promises to pay do not increase the national wealth, and that issuing paper dollars, redecm- able only in paper promises, 18 a fraud, Under the present system our currency has an absolute limit, and it 18 so contrived that the cur- rency of the commercial world cannot circulate here at ail; hence, when gold came over in large quantities last fall, our currency was not ex- panded; the gold came as mere merchandise, like Steel rails or gold watches, and our currency was, to a considerable extent, absorbed and tightened by purchasing the imported coin. lu travelling through the West lately my atten- tion was called to the condition of the farming in- terests, which are much depressed, aud 1 find with some surprise that their great agricultural prod- ucts—beet. pork, lard, corn and wheat—in the avgregate, brought quite as much in gold in Jan- uary, i561, as the same products brought in paper promises in January, 1873, while all the articles mpleorela larmer cobsumes Were very much higher In 1874 During the first six months of 1860 the average price of ness pork was $17 69 per barrel, In gold; and during the frst three months of tsel, belore the war, it averaged $17 16, gola, While the aver- age for the same period in 1573 Was but $15 60, in- lated paper. Lard followed pork, and corn was higher during the gold period of 1861 tian during the same pe- riod in 1572, with only paper atloat. Comment superfuou Add another hundred millions of Ly. redeemable paper and in turee years tae farmer wil be no better paid than a seri. Increasing the legal tender without provision for redemption 1s sure to bring disaster upon the country and certain destruction to the party which forces Such measures, We are brougit face to Jace with this guestion, and it requires no pro- phetic vision to foresee that financial chaos will come before another Presidential election if we persist in expanding an trredecemable currency. it 18 no rash prediction to way that the advocates of paper inflation will be wt terly disappointed in tue results of their poitcy, if it prevails; that distrust, and not contidence, Will follow; that even specniators in stocks will revel onty for a time, and that the great business interests of the country will be prostrate and flud no considerable number of capitaiists willing to imperil their money in enterprises which unsound legisiation renders insecure. Dreamers, who ignore ailtne experience of the past and fancy that capital can be created by legisiative enactments, May, perhaps, cling to their delusions until the ood comes ahd sweeps them away, We want a currency which is perfectly sale and sufficient in amount to meet all the requirements of legitimate business. I insist that we can attain that want by easy grades, without a jolt upon the way, aud with in. culable advantage to the whole country. 11 #irst—Funa the jegal tender notes in the foltow- ng Way — Limiting the greenbacks to $400,000,000, issue $400,000,000 in five per cent gold ponds at thirty years, free of taxes, and alter thirty years payabie as the government may call them in. Authorize the Secretary of the Jreasury to sell these bonds to the highest bidder, not below par, payable in gold or greenbacks, cancelling the greenbacks re- ceived, and exchanging the gold, if any is paid, with the national banks for greenbacks, pro rata, according to the reserve wlich each bank is re: quired to keep. Offer for sale No More than $20,000,000 tn any one month and leave the day of sale in the month and the amount, not exceeding $20,000,000 a munth, to the discretion of the Secretary Second—At the end of twenty-four months, if the greenbacks are not all funded, let the Secretary sell to the highest bidder in gold, not below par, any bonds remaining of the $400,000,000 issue and | redeem the balance of the greenbacks snd cancel them. Third—Allow the national banks, or any new organizations who will deposit with the Treasury $100,000, or any greater amount of the new thirty-year bonds, or of any existing bonds of the government, to re- ceive national currency within ten per cent of the face of the bonds—the currency to be redeemable in greenbacks or gold or government bonds at their lace—under such rules aa the Congress may prescribe, Fourth—Impose the same burdens and give the same privileges to the new as to the old banks, a! Bees ho reserve to be hela by either, exc redempwton of the currency. ‘< Fiih—Let all who desire pay customs dues in government coupons (less the discount) having hot more than six months to run. ‘The thirty-year bonds would forthwith rise above par in gold, and as the greenbacks could gradually be converted into these bonds the greenbacks would soon ater gold. The sale of the bonds to the highest bidder would prevent all partiality in the sale, and twenty-four months the greenbacks would all be absorbed and the national currency substitated in | their place; and before that time the credit of the government would be such that it could convert | the six per cent bond into @ thirty-year bond at Jess than five per cent interest, The interest paid on the bonds used in funding the greenbacks would be saved thrice over iu this cheaper mode of administering the nnenvesy avoiding the cost of premium and interest on accumulated gold, and giving improved credit and | prosperity to the country, As the government ‘would have no greendacks toredeem and no coin to pay, except lor the coupons not received tor cus- toms, it would require no large hoard ot useiess gold, losing interest and abstracted irom the needs of commerce to lie idle in the Treasury, but the gold would pass to the banks for actual and legiti- mace use. ‘ne government would then be contined to its proper functions and leave the banks to take care of tucir circulating notes or be wound up. ‘Thus bapking would be entirely free; just 80 much currency Would be kept out as the wauts of the country might require and no more, The amount allowed to be issued would be very large. The amount actually circulated would be deter- Inined by the legitimate wants of the community, Not one dollar could be Kept out. The history of the tractional currency, like that of every other redeemabie currency, proves this. Under the law, $0,000,000 of fractional currency may be issued, and yet it is found that $40,000,000 is all that the country needs. When the issue Tises above that sul it immediately returns for redemption, Gold and silver would come in a8 a means of expansion, and we siouid have all the “elasticity” which we could reasonably desire. A bank re- serve beyond that required for redemption of the currency, on the pretext that it secures the bank depositor, 18a delusion, benefiting only the reck- Jess speculating banks to the detriment of the cares ful and sate ones. It is not the business of the government to pro- tect careless men against the folly of placing their money in the hands of Insolvent bankers. - Since the bonds would rule higner than the par of gold they could never be used in redemption of the currency except in some great and temporary emergency, We should soon haye a currency expanding ua- | der the natural laws of trade and convertible into gold when the paper became redundant; the hoarded coin of the country would be speedily 1iv- erated, and the currency of the commercial world would by an unerring law flow in to increase our | circulation Whenever the necessity Was created, ect upon the confidence oi the people would eedingly great and all the industries would ve, Certain interested parties will oppose this or any other plan which looks to equal rights and the uniform good of all. A healthy expansion under this system may | occur from improved credit, imported gold or the liberated coin, to which no sane man can object. But unsafe expansion of a currency backed by a reserve and a redemption fund of liv m goid or 118 equivalent to 100 of circulation is simply tmpos- sivle. We only need @ policy based upon sound prin- ciples, certain and just towards all, to lit this great country out of its financial didicuities—the | in the way of our unmeasured | only diMculties prosperity. The adoption of such a policy would immediately restore coufidence, awaken hew life in the nation, stimulate foreign emigration and before long enliven again the seas with our ships. The details of a pertected bili, of course, are not intended to be given tn this paper, nor do 1 sup- pose that this is the best scheme which can be de- vised. By no means wedded to all its provisions and giad to accept any corrections or amendments | from wiser meu, | present this plan, tending, as I think, towards sound principles and the sure pros- perity of our country. This much I would coa- tribute towards the solution of a diMcult question so vital to the public good, lam very respect- fully yours, EDWARDS PIERREPONT. NEW YORK, March 28, 187. The possiditity af a new issue af tnconvertidle paper I regard with amazement and anxiety, and, in my judgment, such an issue would be a detri- ment and a shamés—CHARLES SUMNER, 8IR LAMBTON LOBRAINE'S NON-APPEAR- | ANGE. Tt was expected that Sir Lambton Lorraime, who distinguished himself last November, while coms mander ot the British war vessel Niobe, in the matter of defying Burriel, of Santiago de Cuba, would have arrived in this city yesterday by the Bermuda steamer Camima. The vessel arrived, put failed to bring Sir Lambton Lorraine. General Lioyd Aspinwal, on behalf of the reception com- mittee of the Army and Navy Club, went down the bay in a revenue cutter to meet the Canima as soon as Lda a from Sandy Hook, but, of course. failed to And his expected guest. is | in less than | tJ IN MEMORIAM Five Thousand Colored Citizens Pay the Last Tribute to the Memory of Charles Sumner. Remarks by the Rev. H. Hy Garnet. The possibility of a new tssue of inconvertible paper [regard with amazement and anxiety, and,) | i my judgment, such an issue would ve a detri- ment and a shame,—CiH ARLES SUMNER, | The mass meeting called together by the Civil’ Rights Association to assist in memorial services: in honor of the late Charles Sumner was beld last evening in the large hali of Cooper Institute. The hall was draped in mourning and the centre pil- Jars encircled with searfs of crape. The last words of Sumner, “Do not let the Civil Rights pill fail," printed in black letters on white canvas and sur- rounded with a draping of black, were suspended, over the platforin, The people commenced arriv- ing about a quarter-past seven, and by eight P. Me. the immense hall was packed to overflowing, every seat being taken and a long line of figures ranged along the walls, There | were a few white faces scattered through the crowd—about five per cent in all, Tho following societies were represented :—Tha Mutuai Beneficial Association, Coachmen's Unton League, Public Waiters’ Association, Public Por-” ters’ Association, Silver Svar Association, Unity Benevolent Association ind others, Their banners were placed on theeplatform, and the members ove cupied seats in the auditorium, At twenty minutes past eight the meeting was | called to order, and the Rev. W. F. Butler unani- mously elected President. After the election ot the other officers, the President introduced tho Rey. Jacob Thomas, who proceeded to open the business of the evening with prayer. The Presi- dent then came forward, and, alluding to some four years ago when they had | met together on the occasion of tha passage of the Fifteenth amendment, and when the name of Sumner had been mentioned the house rang with applause, said, ‘‘Now, we have gathered here to-night to lay the choicest dowers of rhetoric upon the tomb of the man we loved, I say we loved, because he loved us.” After briefly sketch- ing the steadfast firmness with which Mr. Sumner had fought the battle for freedom, the speaker went on to eulogize the friend, who, not satisfied with freedom, pushed forward the Civil Rights bill as if determined to finish nobly the work he | had begun years ago. ' Some verses written “Jn Memoriam” were then very pleasantly sung by & sextet, comprising three ladies and three gentlemen, The following resolutions were then read by Pro~ fessor Charies L. Reason :— Whereas on the Iith March the valuable but unfin< ished labors of Hon, Charles Sumuer were suddenly checked by death, and whereas we colored citizens ot) the city of New York desire to make public avowal o the gratitude we cherish for the services he has ren | dered us and to tek how solemnly we regard the re~ 1 of one so intimately associated with our later his- TORY. be it therefore solved, That, borne down with sorrow as we are byt this great bereavement, we nevertheless have reason to Fejoice in the sieudiasttioss of purpose with which this great statesman began his public career and the fidelity and earnestness with which, against all obstacioa, he keptin the path of duty to the close of his life. Kesolved, That following out his earliest political con- victions the late Senator Sumner was truly, to use bis own words, by sentiment, education and conviction & rriend of human rights in their utmost expan- sion. In no sense @ politician, he was wedded to the: democratic Idea as transfigured in the Deciaration ot In- dependence and im the mjunctions of Christianity; and in this idea he saw no narrow advantages merely tor in- dividuals or classes, but the sovereignty of the people and the greatest happiness of all secured by equal laws. Kegolved, That the public life of the late Charles Sut ner was exceptionally a consecration of high moral pu! pose, Unsullied inwgrity and sublime courage to the ‘Cause of truth and rignt. Resolved, That in the exercise of his vast erudition, cultivated tasie and severe logic he presents a shining example of what culture may do when it acknowledges the guidance of au incorruptible character. Resolved, That although the voice of our eloquent ad- | yooute shalt uo more be heard in the Senate, his thoughts. | Will never perish, but abide with us to strengthen and | encourage Us. Hé tells us to-night from his resting place | at Auburn that humanity has ever advanced, urged by: the instincts and necessities implanted by God. Thwarted for a time—a moment only in the immensity of ages—it may deyiate frow its truc line or seem tw retreat, but it wi be ever onward. 1d, That amid the disappoirtments which may attend individual exertions, amid the agitation which may surround us, let us recognize this law, let us follow the star, confident that whatever 1s just, wha humane, whatever is good, whatever is true, according to an immutable ordinance'ot Providence, in the golden | lightot the tuture must prevail. Resolved, That in remembrance of the ceaseless efforts of the lute Sevator Sumner to secure the passage of the | supplementary Civil Rights bill, and his great anxie: 7 the hour of death that this great instrument of right | suould not tail, and relying in the beliet that the pill tg | tramed only in the spirit of justice to a long outraged | people, we earnestly appeal to the Congress of the United | States, In view of the authority given to enforce the fourteenth amendment of the constitution ate legisiation, to pass during the present | Sumner Supplementary Civil Rights bill, The resolutions were seconded by the Rev. H, H. | Garnet, who said:—‘‘It seems to me a very bappy thing that we meet here with two very different objects. We meet here to-night on the fourth anni- versary of the passage of the fifteenth amend- ment, one of the most important events ever passed by the Senate of the United States. That is one purpose of our meeting here; but we also | mneet Lo join together in mourning the loss of one | of the grandest and noblest meu that ever stood in the Senate chamber, Since the death of Mr. Sumner the whole country nas sung his praise ; nis patriousm and undying devotion have become a part of the history of the country. Amidst ali the corruption and evil that swept over this country like a tidal wave, Mr. Sumner stood like a rock, unbiemished and untainted, 1 do not know to what creed Mr. Sumner belonged, but I do say that the broadest, soundest and grandest princi- ples of the Gospel were nobly illustrated by Charies Sumuer. By the by, some people are never satis- fled at the deeds of a man during life; and the other day, when | mentioned to a gentleman to a géntieman { knew—a colored gentleman—that Charies Sumner was dead he said, “Yes, so I heard; buthe has left the colored people nothing in mis will.’ Isay he bas left them the greatest | legacy in his power, the labors of a Itfe devoted to their cause. In the cause of freedom he received | his deathblow some twenty years ago and has has been slowly dying ever since. In conclu- ston Mr. Garnet said that he had leit | a bed Ol affliction to come here this evening, as no | man ever lived that he admired as much as Charles Sumner, You talk about building a monument for him. Such a thing ought to be done, and you can doit. You ao not want large sums; you can get twenty-five cents from every mau in this State; every one will give for such an object, But he bas already a monument built in the hearts of the colored people that time can never efface. Alter some more music Professor Reason read’ some letters from Mr. Downing and Dr. Cromwell, and explained that Mr. Douglass had been invited | to the meeting, but they had received an answer from his son suying that he was aoseat from Wash- ington, The Glee Club then sung “Come unto me, ye that are in labor and heavy laden,"’ aiter which tho | Rev. Charlies R, Kay came torward and spoke for some twenty minutes, during which time he gave ashort sketch of the prominent actions of Mr. Sumuer in his battle ior freedom, In conclusion the speaker alluded to a remark made by Mr. Beecher in which he said Mr. Sumner died too late—he | Should have died two years ago. I say if he had | died two years ago Where would have been the Civil Rights biliY He died too soon—he should have lived to finish his great and good work, Speeches were then made by several other gen- tlemen, and it was nearly eleven P. M, beiore tne meeting dispersed. bi -MoORB CONTEST, The Senatorial Investigating Committee, whe are hearing the petition of Walter S, Pinckney against Senator H. H, Moore, of the Eighth Sen- | atorial district, met yesterday at the Metropolitan Hotel, Some twenty-five witnesses were exam- | ined, Nothing important was elicited, and the committee adjourued uutilnext Friday night, at mine o'clock. | HENRY WARD BEEOHER’S LECTURE, by appropri- % session the | Tonight Henry Ward Beecher will lecture in | Steinway Hall for the benefit of the Free Dormi-+ tory for Women, The subject of the lecture is “The Wastes and Burdens of Society.’ Mr. Aigernon 8S. Sullivan, an honorary member of “The Fraternais,’’ will preside. THE VINDICATION OF MB, BEECHER. TO THE EDITOR OF THE HEBALD:— I beg to tender to you my most hearty thanks fog the timely and able article in your issue of yestere day concerning the Brooklyn Oongregational Council and Mr, Beecher, You have stmply do! Mr. Beecher justice and administered well rebuke to Dra, Storra and Budi nm and otuers, 1 hope the article will be reprint ry throughout the country, A PRESBYTERIAN PASTOR, MARCH 30, 1874, DEATH IN A OBUROH, Boston, March 90, 1874. Mr. Gayler, organist at the Baptist church, West Concord street, died of heart disease, tm his seat last evening, Wnile playing his instrument