, 1886-07-15
T~ELEGRAPHIC NEWS.
Discussion on the Surplus Res
olution.
An Executive Order to Heads Of
Departments.
Miss Cleveland's Plan--Floods in
the South.


MIR. Morrison, of Illinois, offered the toll
lowing amendment
The surplus of the balance herein re-
ferred to, shall be the available surplus
ascertained according to the form of the
statement of the United States treasurer
Of the assets and liabilities of the treasury
of the United States employed June 30,
1886"
Mr.. Hewitt, OF New York. her took
the floor in opposition to the resolution.
The resolution, he said. provided that
whenever the surplus exceeded $780,
0O0, 600, calls for bonds should be made.
The result would be that if there was
$l0l 900. 900 surplus, the call must be
made. and thus the reserve would be re-
duced to $gl 900, 900. 1t the gentleman
from Illinois did not intend to do that, he
had better modify the language of the
resolution So as to provide that
when the surplus reached $4,000, 900,
there should be a call. The gentleman
from Illinois based his advocacy Of the
resolution on the saving Of interest. Such
consideration as the saving Ut i've and Il
quarter millions was trifllng III cumpari
son with the danger and disturbance
which would result II the financial trans
actions Of the government were seriously
I'M Impaired by the operations Ut the resvlu
ton. The gentleman was mistaken Ill
surprising that the release Of THIS money
from the treasury would put a single man
To work. There We're To day idle in New
York more Than $75, 900, 0OO of unem-
plvyed capital. If that capital could be
made profitable, it wuull be employed.
1t this S75.UU0, 900 came from the treas
ury it wuuli not be given to men who
were short OF means. 1t would be paid
10 bondholIers who would simply pc, ket
the proceeds in II market already abound
ing with capital and not II single human be-
ing would be employed by reason uf r-lease
lie did not CONSIDER that the action of
the On ways and means and
the cUminitter on rules Was a declaration
Ut war against the administration. If the
resolution should be adopted. however, he
should regard It as a yste vi want uf ecu
hdence IN the pyfcy vi the administration
The lrmrIatic party believed in hunest
money. and the president of the United
States, when he accepted the nomination
Ut his party. planted himself squarely On
the declaration OF the platform. He went
into no detail. He accepted it in broad
and generous declaration, and the nresi
dent regarded his promise to observe the
declaration OF the platform as bind ny
upon his conscience and action, as was his
oath to support the constitution and main
tain the laws.
In conclusion, he thus summed up his
objections To the resolution: -Four months
after its passage the country would be
brought back to the condition in which il
had been on the 4th of March, 1885. and
gold would be withdrawn from circulation.
The moment that occurred millions Of
men would lose their daily employment.
Then a demand would come for green
backs, and the long struggle for sound
eur. ency would end in fat money. Or
course, when the country had passed
through the valley Of death. which it had
once travelled with tears and lamentations
made wiser By suffering, taught by Lit
ter experience, it would slowly retrace its
steps to the basis of honest mon ;y-money
which the Democratic party, from the
time of Jefferson to the present. had in-
sisted was the only money for the people
the best money-money which meas
ured all other money. Gold was not too
good for w%orkingmen, not too good for
orphans ard widows, not too good for the
citizen who wished that justice should be
established and maintained in this land
forever
Mr.. Weaver, OF Iowa, said the only
trouble with the resolution was that it did
not go far nough. 1t simply said in ef
feet: Come, let us set up 500, 600, 900
for any emergency hat may arse and pay
the balance on our debt" Could there
be a more conservative and reasonable
proposition made? He contenled that
the bonds were not intended to be payable
in gold only and charged that the bonds
had shirked taxation for nearly a quarter
OF a century.
Mr.. Randall, of PENNSYLVANIA, said this
was not the silver question at all. 1t
was a question whether we mad money
in the treasury undisposed of and against
which there is a legitimate claim. to the
extent Of $50, 600, 900 or $1,000. 900. that
might be used in the linuidation Of the
public debt. Congress proposed under
this resolution to do Just what il had done
when il had reduce the public debt;
lust what was done when forty four and a
half millions we're paid in ON account of
the sinking fund in the last fiscal year.
He had no hesitation in saying that IN
his opinion the greenb ,cks in the treasury
to day were perfectly adequate for
the liquidation Of the debt TO the full
amount proposed He did not wish any
gentleman To confuse this question with
the apprehension which prevailed in the
mind OF the gentleman from New York
(Mr HEWITT; this was a mere matter of
business. Without quesIiouinrEapybod, )
mott, es, he wished to say that II thes.
bonds due and payable at the upton OF the
government. were held by any private
capitalists, the house would not hear this