WASHINGTON, June 2e, 1898.
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 In Senate this morning Mir. Webster's bill for the collection and safe keeping of the public revenue, with the substitute offered by Mir. Buchanan, was taken up.

 MT. Calhoun spoke at some length on the subject. Neither of the propositions suited his views, but if compelled to take either, he preferred that of the Senator from Massa- chusetts (Webster) if for no other reason but because it came from the party that it did. That party would be responsible for the measure. We have been defeated, said MT. Calhoun, but we have done our duty.

 Mir Buchanan considered it strange that the Senator from South Carolina Calhoun ) after the noble arguments he had made agalnst the paper system, should prefer the proposition of the Senator from Massachu- sets. One great object of my bill, said Mir. Buchanan, is to compel the Secretary of the Treasury. at stated periods, to require specie for all bank notes received in the collection of the public dues. The bill is only legalizing what must necessarily be the practice if no law is passed. As friend of the admins tration, (and I hold myself as good friend of it as the gentleman from South Carolina, MT. Calhoun) I think something must be done. MT. Calhoun again contendGd, that the measure of the gentleman from Pennsylva- mia (Mr. Buchanan) would be productive of no ,salutary end. The opposition, he said. have defeated us, not upon detail, but upon the principle of the Bill. Letthem take the responsibility.

 MT. Buchanan described the embarrass-