The Portland daily press., 1885-01-16

XLVIiIth Congress--2d Session
SENATE.

Mr.. Hale of the Commits n naval affairs re-
ported favoraoiy the bin for tue relief of suf'
erers by the wreck of the Uuited States steam
er Tallspoosa. Placed or the calendar.
Mr.. Miller of California introduced slbill to
increase the pension OF Mrs. Frances L..
Thomas, widow of General George II. Thomas
from $3.50 to So, 600 year, also the same of the
pension granted to the widow OF Admiral
Farragut.
Mr. Miller of California from the committee
on foreign relations reported bill heretofore
introduced which had been intended to give
the President ger aral authority to accept invi-
tations to industrial exhibitions. (The snbsti-
tute simply authorizes the President to accept
an invitation to the Belgian International EK-
hibition and TO send to Antwerp the govern
ment exhibits now at New Orleans when the
New Orleans exhibition should have been
closed.
The matter went over and the Senate pro-
ceeded to the consideration of the bills on the
Calendar.
bank of Newton, Mass, was taken MP and dis
cussed until 2 o'clock without reaching any
action, when upon motion of Mr.. Miller the
Senate went into executive session.
When the doors we're reopened the Senate
adjourned.
The House under special order proceeded
to consideration of the Mcpherson funding
bill.
Mr.. Henley OF California wished to antsgon-
ize it with the question OF consideration but the
sdeoker ruled tnat such question could not
be raised against special order and Mr.. Hen
ley gave notice that he would on Saturday
press the Northern Pacific land grant bill for
action.
Mr.. wilkins of Ohio gave brief statement
of the features OF the Mcpherson bill and the
causes which necessitated the passage of some
such measure. (The bill authorizes the issue
of circulating notes to banking institutions, to
an amount equal to the par value of the bonds
deposited, instead of 80 per cent as now author
ibed by law, with q proviso that such issue
shall not exceed the actually paid-in capital of
the bank.
Mr.. Yaple of Michigan opposed the measure.
Every man who claimed to be q Democrat
should oppose this bill and not act as an attor-
ney for private corporations. He maintained
that as matter Of good faith, &c member who
was a stakeholder in any national bank should
speak or vote on this measure. He gave 10
tice of al amendment excluding from the pro-
visions Of the bill any bank which refused to
receive STANDARD silver dollar on deposit or
paw it over the counter on same terms as gold
F&Mr. Cook of Iowa, in opposition to the
bill attributed the present business depression
to the uncertain condition of the currency.
The currency was too elastic. 1t should be
fixed and should maintain every element in its
strength.
Mr.. Brumm of Pennsylvania thought the
measure should be entitled "a bill to offer q
premium to the present bond holders and to
MIR. Henderson of Iowa, supported the bill
the sole purpose of which was TO increase the
noust of money as circulating medium IN
lne hands of the people de found his duty
clear TO vote for the bill which was in the in-
terest of the people and not in the interest OF
banks.
Mr. Ermentrout of Pennsylvania maintained
that if the Democrats would take the Chicago
platform as guide on this question thsy mus
favor the pending measure.
Mr Dotf ~ Ma Vork annnqad the MIL
He entertained an opinion that instead o
Strengthening the credit of the country il
would be the first s ep which would iuevit7bis
overthrow the sSs, em of BANGING in this couo-
try. Mr.. Potter gave notice of a motion to O.
commits the bill tn instructions TO report sscs
bill providing that the Secretary OF the Treas
ury be authorized to receive at tho treasury
any bonds of the United States bearing inter
est at per ceutum Or Al per centum per an
NUN and to issue in exchange therefor Al
equal amount OF registered bonds Of The Unit
ed States bearing interest at rate of q pei
centum per annum. Said q per centum oond
to be issued in exchange for 4 per csntum
bonds shall he paya able at the pleasure o! th'
United States after the first day of July, 1907
and said 81 per centum bonds to be issued il
exchan4s 10, Al per centum bonds shall b'
pAy4uls a. ths pressure OF the United State
alter THE FIRST day of September 1891.
Mr.. wilkins demanded the previous cues
ton on tho bill sud amendments pending
which MIR. Mills OF Texas moved the Hous
adjourn aud stating that the Democrat
wished to hold Caucus. The motion was Car
ried. Yeas 100, nays 112.
While this was In no sense a test vote on th
Mcpherson bill, many members voting in tn
affirmative in order that the caucus might b
held, il operates the virtual defeat OF tns
measure as special order is not continuin
order.
Mr.. Buckner, chairman of the committee o.
banking and currency committee said to al
Associated Press reporter, "That settles th
bill. We will never again be able to get it bt
fore the House."
spending the announcement of the vote o
motion of MIR. Randall of Pennsylvania, tb
House non 7concurred in the Senate amend
menis to the six months naval appropriate
bill and Messrs. Randall, Holman and Lon
were appointed conferees