New-York tribune., 1886-07-30
THE SURPLUS RESOLUTION
prRsp1R1yG DEBATE IN THE SENATE.
spxAroR AILIsoN's FoRCIBLE sPEEcn-A NoN-ro-
LIuCAL QUESTION

,pr TELEGRAPH TO TRrDUNR-]
WAsuINGToN July 29.-Desplte the intense
,oot IN the Senate Chamber considerable interest va"
Aa"tsosted in the debate on tho amended "snr-
nIn.n resolution, and several OF the senators
nors with as much energy as though tnell
rrst five minutes OF vocal exerton had no'
ril;ed their collars and saturated their hahuKe'ou
Mr. Allison opened the debate In caim' no'''"
sneech in which explained the scope and purp Sc u
the resolution and bearing upon he administrator
., tho Treasury Mr.. Beck replied with great energy
The perspiraton rlckled down his face In rVule's WIN"
sweued into torrents wien he SoI l"t'
settled into tho saddle ami charged upon 'no
National banks. He wanted to take the M'Irlson
resolution as he does his old bourbon" straight
,,o,t any Of the sweetenng prepared by the finance
committee SO did senator Plumb, who agreed VII"
MI Beck that $50. 100000 would be an anpe s''o"
hack reserve and LOpersprei cOpousy as ne 'o'o"o
the Kentucky Senator IN wild raid on E stern "n"H
&C." Mr. V,s OF Missouri handled millions
-, hundreds OF millions with an oHsy noL-
,,.,oo and grace which showed that be
=, ,.rf,ct II aster Of finance and KNOWS Poou th''S
1,btn lie sees H." even II ii be- only cer'h'"'' io'
lu,or,c shares Of Pan Electric siocN- Mr' JoneS' VI
nevada had no speech to make but he was r'."y 10
,,o ., ~ ., ON the subject Mi Shermans remarks
er, listened To- with close attention lie was the onI
Senator except Mr. Allison who seemed not 10 Do us
tressed by the heat
~, Arisou hocd the discussion would Oe closely con-
oed 10 tho distilled points involved. These were two
~ d., relating To the currency an tue next relAtngtO
, cement OF the current business OF the Govern
mont IL had been moOtcc question whether or h"''
az, IN ,ls ume had been distinct setting apart
o any specific for the purpose Of maintaining the
redeuuton OF United states notes lie dd not h'hse'
lelsve that there Was any specific leg slaton on the
st,ate book requiring the absolute reservation ot any
spec tic sum OF money, although he thought co''u u"
fairly stated that there was ID the Treas Ty reserve
which without further legislation was the point 10 oo
maintained under the statutes OF l>Io and loo- lie
A.ffe That lpr lIU
c,s devotion OF dedication of 0OOOOOo0, TO Oo heH
in the Treasury for the purpose OF maintaining al par I'D
coin all the paper money issued Oy tue Governments
The Morrison resolution proposed IN absolute teis I"
cot apar 500 100000 for tne specific purpose Oi re-
oeemIng Unitcd notes II that Joint re'ouuoA
snoun pass without the dottne o. an I or the
recr,ssing OF 1t would stand IN the
halfway OF the Secretary OF the treas
ury in managing the current Du7lheS''
the Secretary should undertake TO use any portion o.
that 900 for current obligations he would vic
lste distinct aud clear provision OF Jaw. Therefore
WAS that the Committee Finance had thought 1t wise
10 reserve a further working fund oi 9-OOvoVoo .e
lont resolution had oeen III lOrte lcW 3ea'S ,,1
tbe Arrears OF Pensions act was passed. that act conH
not nave been executed by the secretary o. th1
s.,ec;inc ucl sions The Senate had AT the preseut
SS oua benson expenditures by or fifteen
million o. ars. bin pending III the ll'u>e
4, Ie session II Il did and II the House reoIntieu were
II fun Play me oo peosiGn pof ne law ae A. Te fnd n
could be drawn upon times when tie Treasury
,oceeding to discuss the clause IN the amendment a'
- "an extraordinary energency, me elFAAeI @ Was
asked ~ Administration game lnto power nIic.tns
that the country On 80 Vcrzo -, rac,nsd t,,c
piled in tne negative and then AiI. am t inv
fact OF the Secretary Of the Treasury sending a. I,'
IS~5 SlOOOuOpO to the associated oahhS In Nv
some demand ana 10 aver H"Ic i."-
handing disaster In response to that he ~aIl mat me
iecreiTy Of The Treasury thcn new IN i' l ce
was not as familiar win the AFFAIRS OF tne l't"Sl.3 49,.
of me Government as he now Wts htNlh- Ie'Ilr' ~
icech delivered by senator Beck last December "hch
,,Li he said the shAms Of the Democratic pohc', he
wa, asked by Mcpherson % state Wh@l h' me- i. p,
IT, ,Ie democratic Administration had come mo
1"a1 'o rr,'.,i al 5yersey th4 financial poncy e. lis
ireiecessor and aylug that more money " c" lu 'H'
Irea,rry nan was necessary To carry on "t "flht'
,,, Of the Governments 10 maintain thc rap"r
UiTIaSo mar ar tat from March December - the
Democratic Administration A'N .cNeIN'' . ,.', lN.5 M
III Republican Administration and "'ieal Oh ty"-& IN n
snrpns on the pdOic dr3,, ned accumulated more
than SGOOOO,uoO I'D the treasury .te' d" .,.crr ~,
the proper We ana thallt Ws o''! '.sc =, -
q the senate from Kentucky thtt pnl 7,"' ~ N'.
Issued Inc o, hous, 'C tiI,,nc,l Ioicy If fl. Atmn-
apso!uteiy C,,uiftt.. ON Finance u4l moi
nned AMI rcOa,cd IN som" SptctS i"ls C'' .'.
tion stil II also proposed TO con iemn that po'y an9
itwoud stand condcmn~d before the country whether
the resolution shoult ne anehloL or n"'' 'p, mud ,lo
The senators 0n either side, SAID ''r; becA, hiu '
Administration might a wen dismiss a.. al s"aS
relative to the motives AMI purp9s,s % we
Representatives, in the passage 9i tue ON ,,
a d might well assume that me Dl7s O4 I,'IIc
sentauyes had not Hnd'r'a~en eny or emSar
either TO cen'ure; Go I'm" 'h f.,-,,,,"I.,f
rass the Executive branch oI tne Wv ., '''.' ,
i1,in was iar and Just to the Administration be should
vote for u lu,t came from tue House lie adAi'le
tbat t0e SECRETARY OF the Treasury bal held money ~
Ihe Treasury beyond wat WAS needed bhi ne htulol
mai to the combination OF men u New YORK aud else
where who dl not desire have the bonus called ln
ami endeavorcd 10 make the secretary bcieV" th"l
hel5 Ii' IN the Treasury lie believed these mad
alarmed .he President ara {n. "a V ~ iEf M
and much OF the locking up was peVaIsV u I 'I, "I
nrehensiOn Mr Beck declared that the JOINT r"Spntoi
was the Thing which a wise Administration wond wan
nerause II turned responsibility upon CongfeSs
whose agent secretary OF the treasury wa ne -.
,t,1H fp Cong 3
BecK-hai often beggrd that me sihh!I1 fui.
should be stopped or ihAt ekce,lve tahatoH 1n'u, %
would eInl arrass the Treasury by such surplus.
Mr McPnerson "a member OF the Finance Committee
.ad Iuat he intended to address the senate a
length the subject but OWING TO me stSness Ui u.
session and the funess ani cIeaIhess oi FL Ai'7
stateInent he would fOrego that Intention lie Hecared
pHbncan party was entitled TO al commendation. II wa
for It's faithful guardiansnip OF the public ann ana t
asif he Democratic majority IN Congress had begun L
fear that the small remnant OF the pablc deDt iuInlse
them me only chance LETT to saOw tha they TOO ha
hanciH poGy fhey proposed to deal with the snrplu
I'm tie Treasury such manner as nust neei7 uenc
on the reserve pay the per cent bonds Ia sNc
dollars. 10 bota these propositions the Democr@t'
President Democratic secretar! o NE Iieasui
were unalterably opposed Inc lchocrA'. tol'12 ~ ~
serve by continuing to coin silver dollars worm .
cents at the rate of two and NAT millions month
tie House resolution were la'sen' theh 'he oou"'i
would be AT silver basis
advocated resolution as came from mo House ah'
expressed the desire That ITS opponents would agree g"
senator from Mr Alison) ami the Ketrescht@tiv
N.w y other House or HcwitJ opplSe
tfor two entirely Opp,ste aud rreconcaOe reasons
For MS part. lie believed that there was no ne c7s
lar keeping surp.us Of SlOOOooOJO IN the Treas
ury That equal TO one thrd or the ont7an'
inc and there pTOhablty OI an
large amount OF gold being called for In exchange 10
curreycy. lie believed that reserve OF eoO'cuVOV
voud be amply sufficient
MIR Vest favored the Joint resolution as II came iron
the House There was nothing political IN the QUESTION
he aid The senator from kansas iMi Pnmbj was
roSf emphatic Republican, AMI he Clr Nesu was quit
% nrnnnunced a Democrats but yet their views weI
eYtirrly I'm unison this subject There hai beon
camor thrown llver III tInder the idea that the bus
80 nrinclules which applied TO the G0yrrnmcn n
deered from those that applied to ordinary business
Wh.t he asked would be thought Of a business ma
WIN Souid Keep 81 900 idle IN his van wle lie ha
SlOO 900 OF < per notes outstanding ENeF5 u ei
c,ntte e1chAnse In tho country wonld den"unce nm