The Senate Joins The House

The friends of inflatie! havo lont no time in securing frora tho United State benate au expression of opinión Hk thatof the House of Eepresentativea. Both houses have now declared rha 400,000,000 is the lawfill total of W tender notes, thus leading tho country ïmn lT 1 Spt"edy additlü" of f 18,000,000 to tho already over-swollon tuass of flepraoiated paper monoy which everr debtor can oom pel his creditor to take wh1Ch every employer can use for wages. Iho question uf tho rirrht of the Treasury D(;pttrtment to issuo greenbacks in piHce of tho $44,000,000 taken m and canceled under Mr. McCullouch 8 at lastsettled as far as the Senatj caa decide it A year ago the majority report oí he Benate Pinanoe Oommittee was in clear condemnation of the Treasurys claim, and tho Senate left the question suspended betwepn the imuees two reporta. Now at length the Sonate decides, and in favor of the imnonty of its Finance Comraittee. The abominable doctrine of a "reserve of legal-tender notos" of a aum of $44,000 000 to be issuud and withdrawu at the dia' cretion of a Socretary of tho Troasurv has received the sanction of a maioritv ot hve votes in the Senate out of a te tal of fifty-seven voting, and we must congratúlate ourselvea that the Senata did not emulate the House by votinatwo to one. s In the votes of Monday and Thuraaay, in House and Senate, thia Congress with its Radical party in f uil control has encouraged the issue of irredeemablfi nr ,„ j has ratified a monstrous piece of Exeoutive usurpation. The exercise of a power to vary at will the amount of Waltender money of the country, at first ; regarded as a wild and improbable fiction ín a f ree country, was lef t unrebuked and ahveayearago; and to-day it is 8ano. tioned by the legislative branch of the Governrnent. The Eadical aiajority of a Congress of the United States has voted lts approval of Executive acts and pretensions which would have brought iinpeachment and disgrace upon any previous Président and Secratary of tha Treasury. Tha inflatiomsts recogniza their banthng, be its first ory ever so inurticulate ; and their gambling ventures n Wall street reBpond quinkly enough But this is only the first of their meaaïres, and they appear to couut on getting the further sum of $18,000,000 new greenbacks into circulation by a ciroui tous method. Not being able to count upon a majority in Congress for a naked proposition to "order out the reserves" hey have planned the following scheme'lhe iree banking plan, authorizing unhmited issues of bank notos, secured by bonds but not subject to effective redemptiou, is to ba hurried through both houses. With thig acoomplished, aay by ...v.o„j .„! ucii woeit, 80ino leadinir demagoguo- from what eection it matte rs nothing so long as he has a national repufcation for oratory of the spreadeagle school- wiü rige and bespeak atténtion of Congress. He will assert that everything needful has now been done for the currency of the country as to volume and " elactioity ;" it only remaina toredeem the pledges of Congress and brmg tho paper gradually up to par wxth gold. To do this he will press hia measure torbidding sales of gold by the Treasury; and the radical majority, overborne by his sagacious patriotism is to vote the neossary acts. Let the votine meinbers say and think what they wil? this is about the line laid down for them Ati1 8treet sympathizera as best ntted to forcé a rise in stocks and gold. And this is what the keen anxiety ot Wall street means- not that it is persuaded the country needs more of thii deprecieted paper money, but that private ïnterests are to be advanced in ths market by the help of votes in Congress cast in the name of American comnTerco and induetry. The whole scheme is harmonions. The Oongress which has betrayed ita constituents m deference to Executiva wishes may well be expected to cast its votes "."f.etg"!! gold and stocks. Weshallat least learn the depths to which the Eadical party can desoend of lts own purpose, betore it makes' that ünal pluaa-e trom whinh K„., it will never return.-