The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-02-18
THE CENTENNIAL APPROPRIATION.

JOKE ON sPRINGER-HIs AMENDMENT SAID
TO BE OF NO EFEEcr-rHE MILLION AND
HALF NOT LOAN BUT coScEssIoN-PKcU-
LIAR WORDING OF sPRINGER's AMENDMENT
TO THE BILL
PHILADELPHIA Feb II, 1875
Mr. kassons amendment TO the Centennial Appro-
priaon bill in the House representatives required
that the 81 500 900 be paid TO the Centennial Com
mission only after the President and Treasurer OF tho
Board OF Finance OF the Commission shall have cxecu-
ted bond for $500 900 for the faithful disbursement OF
the money. without any action on the part
OF John Welsh and Mr. Frederick Fraley.
the President and Treasurer OF the Finance
Board a number OF leading wealthy citizens OF
Philadelphia have united in the preparation OF this
bond voluntarily becoming security for the safety OF
the appropriation. This bond Is ready be hlod in
Washington after it receives the approval OF the secre
tary of the Treasury, and within few days tho Gen.
tennal exchequer will probably be reinforced with the
funds OF which it is sorey in need to successfully
pete the work OF preparation in time and lquidate
obligations maturing. The main exhibition building
has just been completed and upon 1t is due the con-
tractor Mr. Dobbins the large OF about $780, 600.
This is the only large debt OF the commission the
managers having wisely RETAINED from recklessly in
curing obligations which they had not present money
10 satisfy
A LITTLE MISUNDERSTANDING.
Apropos Of The Centennial Exhibition BILL there is
very important misunderstanding Of its real meaning
II will be remembered that when the bill was before
the House Mr.. Springer offered an amendment with
the purpose of changing the whole character OF the
measure, to make IL not a concession by the
United States government TO an international display
given under its own auspices but a mere loan OF
money to be repaid TO the government after the Exh
bton The bill was passed with this parsi-
monious amendment and was followed by the denun-
Citations OF the press favorable 10 the appropriation
and thousands OF people who Disguised at what
they believed to be very small and
MEAN PIEcR BUSINESS,
especially from the fact that the government
made a preferred creditor aud was TO receive back
evey cent of its loan before the patriotic purchasers OF
Centennial stock received anything Immediately upon
the passage OF the bill in this shape by the House there
was much Indignation in this CITY, and IL was even
proposed by many prominently interested in the Cen
tennial cause TO refuse point blank to receive single
cent of the appropriation under the restrictions Of
Springer's amendment and TO insist that the Senate
should either pass the bill in It's original shape not
at all
Lucky FIND.
Suddenly there a change IN sentiment and some
OF those who had been violent in their denun-
Citations of Congressional meanness all at once showed
a demure satisfaction with the bill as 1t manifest
ing perfect Willingness to have II go through the Sen
ate even with Springer's odous provision attached
meaning Mr. Springers words which he surely
intended them to have. Some shrewd lawyer, in read
ing eminent Springer's provso made this happy
discovery and 1t forthwith whispered abroad.
sPR1SGER's MISTAKE
Now that the bill has bcen signed by the President
and become law in the form IN which II passed the
House. there be no harm in explaining that, even
under This Springer provision the government cannot e
gay be paid back its Appropriation until all the holders
OF Centennia stock shall be psd in full 100 cents the
dollar. Whatever is left after this, II anything will
very properly go back to the United States Treasury
but not before careful reading OF the language OF
the amendment will show this TO be the Mr.
Springers amendment to strike out OF the last
clauses in the bill and TO insert the following
The appropriation hereinbefore made shall be
paid In null into the Treasury OF the United States before
any dspdnd percentage Of The profits shall be paid TO the
holders of said stock
II the word dividend" only had been used the
amendment might have had the intended effect OF max
ing the government preferred creditor to be paid in
full before anybody else received proportion The
language that follows 'or percentage Of the profits,
was Intended to streuthen the meaning but 1t really
weakens The words they stand clearly that
the stockholders shall take precedence and first be re-
paid every cent OF their investment Then the govern
ment may receive back its million and halt after
which the stockholders may possibly receive their
percentage ofthe profits If there arc any.
SATISFIED QUAKERs.
Thus there Is feeling In Philadelphia OF entire
satisfaction with the bill Like Senator Dilworthy
the broadbrms ''for the old flag and appropria
ton every tnie;' and there is disposition to feel
that the cautious Springer rather overreached him
self in this matter, and that the Centennial people
have rather got the laugh on him.
II is but just TO explain that General Hawley Presi
dent OF the sson, called the attention OF the
Senate Committee to whom the bill was referred,
to the peculiar wording OF the amendment, and when
these gentlemen recommended the bill favoraby they
aware of its meaning fully