, 1884-01-26
WASHINGTON.
The Senate Struggling With
National Finances.
The Accumulation of Surplus
In the Treasury.
Flz John Porter's Case Again
In the House.
xlvIIl. CONGRESS-.


Washington, January 25.-When the
senate finance committee adjourned
last night the vote pending was upon the
substitution of the Mcpherson for the
Aldrich bill. The members present had
recorded their votes, leavingt he result a
tie. Senator Voorhees, cast his vote in
favor of the MCPHERSON bill, which was
reported. Sherman Joined the five
democratic members in the finance
committee in voting to report this bill,
preferrlng 1t to the measures previously
substituted for his own bill. McPher-
sons bill provides that on the deposit
of bonds required by law any banking
association will be entstled to receive
from the comptroller of the
currency circulating notes not
to exceed the amount of
the bonds deposited, provided that at
no time shall the total amount of the
notes issued to q bank exceed the
amount of the, at such time, actually
paid in capital stock.
Miller, of California, presented a
petition from the chamber of commerce
of San Francisco, praying congress to
increase the strength and efficiency of
the navy.
Gibson introduced a bill to facilitate
the reform of the civil service.
Bayard, from the committee on
finance, reported favorably the bill
providing for the issue of circulating
notes by national banking associa-
lions.
The house having disagreed to the
senate amendment to the Greeley re-
lief bill, the senate insisted upon its
amendment. A committee of confer
ence was appointed.
Beck called up his bill Intended to
prohibit the secretary of the treasury
purchasing bonds above par. He said:
"If our revenue go on increasing be-
yond our needs, as at present, and pur-
chases are made by the secretary as he
sees fit, there will be quite as much in
stability in the bonds as in the bank
circulation based on them. The bill
under which the secretary progressed to
act was simply to provide for an emer-
gency then existing, and did not give
the secretary absolute power to go into
the market and buy bonds at a pre-
MUM Of twenty or twenty-four per
cent, OF whatever, price the holders
chose to demand. The intention of the
act was that the secretary should buy
such bonds as the government then had
the right to redeem at par, instead OF
buying up those bonds now at a high
premium" Beck thought a better
plan would be to accumulate less sur
plus and thus reduce taxation.
A bill was passed donating part of
the Fort Smith military reservation to
the city Of Fort Smith for the benefit
of public schools.
The Alaska bill was then taken up.
Harrison moved to amend it so as to
pay the marshal his actual travelling
expenses and a salary of 80, 500 be-
sides, the vouchers to be approved by
the Judge. This was agreed to.
The consideration of the bill having
been completed, and the bill adopted by
the committee of the whole, its action
was reported to the senate, the only
reservation being on the prohibition
clause. That clause prohibits the inn
portation, sale or manufacture of in
~toxicating liquors in Alaska except for
medicinal or scientific purposes. This
led to quite a long debate, but the bill
passed with the prohibition clause re-
tanned.
Hoar then called up his bill providing
for the performance of the duties of
president In case Of the removal. death,
resignation or inability of the president
and vice president. The bill was read
three times and passed.
In the contingency referred to, the
bill vests the right to perform the pres.
idential duties In the secretary of state,
or in cast there be none, then In the
secretary of the treasury. and If there
be no secretary Of the treasury, then in
the secretary Of war, and so on through
the cabinet.
After an executive session the senate
adjourned.