Rensselaer Republican, Volume 27, Number 25, Rensselaer, Jasper County, 14 February 1895 — FIFTY – THIRD CONGRESS. [ARTICLE]

FIFTY - THIRD CONGRESS.

In the House, Feb. 4, an attempt was made to pass an Omnibus bill for the payment of claims for confiscated goods and supplies during the war amounting to 1718.663. The measure was defeated—9s to 148. In the debate over the Coinage bill a personal altercation occurred between Mr. Hatch and Mr. Hall, and the Speaker found it necessary- to call on the Sergeant-at-Arms to restore order. The agricultural appropriation bill was considered. In the Senate, Feb. 6, onlv routine business was considered. The Senate finance committee, which was expected to make a report, failed to roach any agreement. In the House, Fob. 6, the debate on the administration’s bill to authorize the issue of 5500.001,000 gold bonds to retire legal tenders and treasury notes was continued for six hours. Mr. Springer opened the debate. He produced figures to show that there would tie an estimated surplus of 526,000.000 in the revenues at the end of the present calendar year, but a deficiency ' at the end of the fiscal year June 30 of I20.0ti.00:),! The deficiency now was $31,OOO.tXJO. but this will be reduced to SI4,(XX).000 in the coming five months. On June 80. 1896. ho said there would bein' the treasury $35,000,009 of surplus revenue. This surplus had Jieen derived from the Sale of the bonds. Ex-Speaker Reed spoke at great length. He said in part: In my judgment, if the President, when he became convinced that an effort was being made to drain the Treasury of its gold, had announced Ills purpose of maintaining tlie reserveat $100,000,000. the limit, set by Conrad Jordan, a Democratic Treasurer, and had followed that announcement with vigorous measures there would iiave been no difficulty. If the . party in power had provided sufficient revenue there Would have been no trouble.’ To find a remedy it was necessary to know the condition. There were $496,OOO.COJ outstanding (paper obligations (papaper and legal tender notes) subject to redemption. For a country like this that was an insignificant sum—a sum not worth talking about when the question of the Government’s ability to pay It and pay it promptly was raised. Therefore something must have been done to create distrust. The first and the main thing that was done was the passage of a financial measure which had already resulted in a deficiency of $107.000,0J0, and which from present Indications would create a further deficiency, permanent or temporary. The Treasury was divided into two sharp divisions. It was engaged in banking and it was engaged in business. The business end of the concern was running astern as he had pointed out. Now the conductors of the treasury ha I allowed the business end to interfere withthe banking department. Discarding the wisdom of business, which, have insisted on increasing the revenues or borrowing money to meet the deficiency in that department, it had taken from the banking department funds to supply the deficiency in the business department. There was set in operation the endless chain by which were furnishing gold for the rest of |be world. Th* President had appealed

not only tohis party associates, but to th apposition for aid. As a party man h ought not to be melalcholy over the pros pect. but as a citizen he stood ready t assist his country in the present crisis. Mr. Reed sent to the clerk’s desk i financial plan. Section 1 of Mr. Reed’ bill authorizes the Secretary o f the Treas ury to issue 3 per cent, bonds, pa yabl after five years, similar to the bonds issue, under the resumption act. Sec., 2 era bodies the new phase introduced by Mr Reed and- is as follows: “That t efiable the Secretary of Treasury t pay' the current expenses —of th - Government so long as the enrren -revenues shall be deficient, he is author ized and required from time to time ir -iris -discretion to issue, sell and dispose 6 at not less than par, sirch an amount o certificates of-indebtednoss of the denomi nations of $25,550 and $lO3, or any multi [ile thereof., as may be needed for tlia purpose, bearing not to exceed 3 percent interest per annum, payable semi-annu ally, and redeemable at the pleasure o the Government, in coin, after two year from their date, with like qualities, privi leges and exemptions provided in the ac approved Jan. 14, 1875. Other member joined in the debate until 4:45p. m., whe: the House adjourned. In the Senate, Feb. 6, the Ilawaiia question was the principal theme of de bate. The diplomatic appropriation bil. was taken up, out the appropriation o $500,000 for a Hawaiian cable, Being cm Bodied Tn the measure, gave rise to objec, .tions by Mr. Mills. Mr. Hale presents estimates showing the prospective cost o the cable to be about $2,500,003. Mr. Flatt upheld the cable project and rea, early presidential messages of Mr. Cleve land urging Congress to provide for th cable. Mr. Platt maintained that Grea Britain would build this cable if th United States did not, thus linking England and Hawaii by commercial ties. Mr Teller renewed his criticisms of Secretarj Herbert’s course toward Hawaii* Air. Gray defended the course of Secretary Her bert and of the administration, and caus tically characterized the overthrow o. Queen “Lil” as a “mean, paltry conspir acy.” He declared it was about as com mendable as a husband’s beating a wife As the Senate was about to adjourn Mr Cullom called up the, Chicago postoffice bill. Mr. Palmer aided in warding off thi objections of Senators anxious to leavt the chamber. Mr; Blanchard explainer that the bill was a substitute for tin House bill already passed. It limited the cost of the new building to $4,000,000 The bill thereupon passed by a viva voet vote without opposition. The substitut* measure differs from that passed by tht House, and must go to a conference, committee. The Vice President named Sena tors Vest. Blanchard and Morrill as thSenate conferees. The success, in getting the Chicago bil through led other Senators to call up bilii whereupon Mr. Harris called attention U the fact that only ten or twelve Senator: were present. At 5:25 the Senate held i brief executive session and then ad journed. The session of the House; Feb, 6, wa devoted to a continuation of the debafc on administration bill to issue $500,100,00 of gold bonds. At 2 o’clock, under tin special order, general debate closed am the debate proceeded under the five min ute rule, the bill being open to amend mentsinany of its parts. It was agree* that the substitutes of Reed find Co: should be considered pending. Mr Springer then offered the amendment agreed on by the committee on bankin; and currency as necessary to perfect th' bill. The amendments making the bond payable “at the pleasure of the Govern ment after ten years.” amd due in fift<_ years, was agreed to. The committe amendment to strike out Section 4 of th< bill prohibiting the issue by nationa banks of notes of a denomination of les: than $lO and the retirement of silver certificates of over $lO provoked considerabl: discussion, in the course of which Mr Williams, of Mississippi, said that th< section proposed to be stricken on was the only one in the bil -that gave a wide circulation to silver Mr. Hartman offered a substitue forth, committee amendment for the free coinagi of silver, the payment of customs dutie, in gold and silver, and the levy of an ad'ditional duty of 50 per cent, on goods com - ing from countries which do not oper their mints to the unlimited coinage o' silver. Mr. Hartman’s amendment fel under a point of order. Mr. Hartmat appealed from the decision of the Chair but the chair was sustained —175 to 9. The committee amendment was agreed to. Mr Bland offered his substitute as an amend ment to the first section. Mr. Springe; made the point of order against it. whicl was sustained. Mr. Bland attempted t< offer it as a substitute for other sectlorw but it was ruled out as often as offered.' Mr. Bland appealed from the decision o tiie Chair. The appeal was still pendini when the committee arose, and House, a’ 5:25, adjourned, In the Senate, Feb 7, the proposed Hawaiian cable was again discussed. Mr Palmer argued against the cable project He said it was purely a political plan, no! dictated by commercial conditions, lit did not believe in the acquisition of Ha wall, either by annexation or otherwise Our annual exports to Hawaii were less than tho proposed cost of this cable. Mr. Higgins spoke in favor 1 of the cable, and said the rise of Japan on tho Pacific wa: another reason why we should have this cab'e and.extend our influence. Consideration of tho cable Item was not concluded when the diplomatic and consular bill was laid aside. Mr. Mitchell rose to a question of privilege and expressed regret al tho language used, the otnerday, in a personal controversy with Mr. Harris. H< withdrew the remarks which had cansec the friction? Mr. Harris responded with a similar withdrawal, and cordial relations between the Senators were renewed. At 5:25 p. in. the Senate held a brief executive session and then adjourned. In the House, Feb, 7, a vote wa! reached on the administration bill for issuing $ 03.000.000 gold bonds, and tho bit was defeated—l 34 to 161. Of the Indiani delegates all voted “nay” except Bynum Hammond and Cooper, who supported thi bill. Before the vote was announced Mr. Reed arose and attempted to make an explanation of the part that he and many o; nis colleagues had voted for the bill, mil he got no further than the statement tha: ho had made a proposition to Mr. Springe; that seemed to him fair, when he was howled down bv a chorus of objection: from the Democratic side. Mr. Springe! then entered a motion to reconsider th, vote by which the third roadingof tho bil was refused, and Mr. Hatch prompt!) moved to lav that motion on the table The latter motion was carried—l3s to 123 This ended the fight. The victors madi the Hall of Representatives ring will their shouts. The House then, at 6:25 p m., adjourned.