The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1886-07-14
THE REPUDIATORS.
MIR, MoRRIsoN's RESOLUTION
To Devote surplus In the Treasury to Paying
OF the Interest Bearing Bonds of the
United statsS,aIF, HIscOrk's Argument
Against TIA Violation of Faith.


Against TIA Violation of Faith.
| WAsHISdToS, July lS.-The House To-
day went into Committee Of the Whole
| (Mr, Crisp, Of Georgia, in the chair on
the joint resolution directing the payment
OF the surplus in the Treasury in decreRs'
ing the public debt, The following ia the
text Of the resolution; "That whenever
the surplus or balance in the Treasury,
Including the amountheld fort the redemp'
tion OF United States notes, shall exceed
the sum OF one hundred millions Of dol
lars 1t shall be and is hereby made the
duty OF the Secretary Of the Treasury to
apply such excess in sums not less than
- millions per month during the exist
encs OF such surplus or excess to the pay
ment OF the interest bearing indebtedness
Of the United States, payable at the OPP
tiol Of the Government"
MoRRIsoN's IDEA. p
Mr.. Morrison said, counting the reserve
at SlOO 100000, there was still a surplus in
the Treasury OF $lOO,OOO,OOO, VI this about
$gSOOO,OOO was unavailable, being made
OF fractional coin, so that all the money
that would be reached under this re6olu,
ton would be about $4,000, ,0OO, II would
make productive that which was now un.
productive, and unless 1t would do some.
thing towards making money little
cheaper, it would save the Government
something in interest, and more than that
it would take away some oi that tempta-
tion which led men to vote largo appro.
priations and make improvident expendl.
lures, He criticised thereport Of tho minor.
ity, and denied the statement therein
made that the effect OF the resolution
would be to shake public confidence. Mr.,
Morrison admitted that he could conceive
that II might be that for very abort time
the 100000, 900 might possibly be trench'
ed upon.
HIsCocK's AMENDMENT,
Mr.. Hiscock, Of New York, offered an
amendment providing that nothing in
the resolution shall authorize the reduC.
tion OF any part OF the $lOO,0OO.OO0 reserve
set apart for the payment Of United States
note6 or the interest bearing indebtedness
OF the United States. He then proceeded
to submit an argument In opposition to
the resolution, declaring that 1t had beon
brought before the House by the action Of
n Demoratic Speaker, Democratic CHAIR
man OF the Ways and Means Committee,
and q Democratic Chairman Of tho APP
preparation Committee against the most
emphatic protest Of q Democratic admins.
traIion. There was no disagreement on
nero detail. Tho difference was rs wide
as that between two great political parties,
and there was an attempt on the part Of
the leaders OF tho House 10 force the pay.
ment OF the national debt and obligation
in silver, to force the Government In Its
financial transactions 10 silYer basis
which the administration earnestly and
determinedly resisted.
VIRTUAL REPUTATION.
This wac declaration that the United
States bonds should be paid in silver dol
lars, and the world would so understand 1t.
1t was practically impossible to execute
the joint resolution without using the sil.
yer dollars. All Of them possibly, because
all the surplus was in silver. He did moi
hesitate 10 say it was repudiation. II was
violation Of the spirit Of the law TO pay
the bonds in silver. They could not have
been placed except on the assurance oI
the part OF the administration that they
would be paid In gold. What had induC-
ed the Democratic party to antagoniEs the
: administration which It had placed In
} power2
THE OLD ANSWER,
Mr.. Morrison suggested in reply that II
was none Of his, Mr.. HlscoCk's, business
Mr.. Hiscock-1s that your only answer
Ia that the only answer Of the Democratic
] leaders that why they have departed from
their administration, that 1t is "None oI
our business2" That Is the quoting Of an
expression which was used moHt infamous
ly once in the city Of New York. At the
best In adopting the pending resolution
Congress would be ttyinga very danger.
ous experiment, one that might bring dis
aster aud ruin on the people, and one that
tho administration felt justified In advising
: against and opposing.
On this question no one doubted the
patriotism oi the President and the Sec.
retary OF the Treasury, aud he congratu.
lated them for iollowfnRs so closely In the
footsteps Of their Republican predeCes'
sors. On this great question President
. Cleveland was greater than the party
which had elected him.
Pending further discussion the Com
mittee rose aud tho House adjourned.
GENERAL HUNTERS WIDOW.