Los Angeles daily herald. [microfilm reel] (Los Angeles [Calif.]) 1884-1890, 1886-02-24
CONGRESSIONAL.
Proceedings of the House
and Senate.
MINORITY REPORT ON SILVER,
An Attempt to Keep up an I'M
mense Reserve Fund in the
Treasury.

Md l., +ta
hiehso hoso''o p"n'i II" ''''
Treasury.
sDecial 10 the Herald bvfhe Assoesdte" 1''''
SENATE.
xu., Eohrnarv oa- Among
eata to-day
the bil's introduced IN ene 0oA
were the following:
Hv senator Stanford, TO establish a
,,. a.a.,o. a, the port of San
tua' t a'"n''"s o' H. ;s;o
francisco, to be unuei sn'
OF the Marine Hospital service. IL ap-
nronr;atea sIOO. 900 for the purchase of
,.uon,d. ~ tbe erection of suitable
s'oua1' .. ..a ,rov;aas
buildings ior 'he 'po'e, ".e P..'
that the use thereof may De from time 10
time granted to the authorities Of the
saa,th danartma.ts Of the citv and
neA's" CO..
county OF oan Francisco anu Vi she osa'e
of California, upon condition that they
shall assume the expense of maintain
inc the station.
r. Senator Van Wick. authorizing
tbaf tbe nrooaeds Of the sinking fund
nroduoed bv The Thurman act be used
Ia the construction Of branch railroad
and taleoraoh lines. It creates board,
to consist Of the Secretary of the Treas
ury, Secretary of the Interior and fresi-
dent OF the Union Pacific and Kansas
Pacific railroads. which shall convert
into money the securities now on deposit
in the Treasury as sinking fund to pay
the maturity indebtedness of these com
panies and to use the same to construct
a branch railroad and telegraph lines TO
connect with the lines of said companies.
IL provides in detail for the manner of
construction, the rates to be charged,
and for other matters connected with the
construction and operation OF such roads
end lines.
Hoar called up the bill appropriating
$3.50, 900 for the erection OF monument
in Washington City to the memory oil
General Grant. The bill was passed.
Among the bills postponed to a later
day was the womans suffrage constitu-
tional amendment. Mr.. Blair saying
that, although it was very important
measure, it could not be discussed under
the fve-minute rule. The education bill
was placed before the Senate and Mr..
Gray took the floor in opposition to the
bill.
HOUSE.
Morr;aon. from the Committee on
wavs and Means. reported a Joint reso-
iution directine The paymept Of the sur
nlus In the Treasury on the public debt.
Tbe minority report which Accompanies
the Joint resolution saws: On the 30th OF
Jannarv Iss6. as shown by the official
state,,ent Of assets and liabilities OF the
Treasury Of the United States. there
was Ia fbe Treasury and United States
deoositories. including the amount held
for the redemption Of United States
notes. and not including minor fraction.
al silver coin elassed as s.assets not
available. the sum OF sl7g. $50, ,862. "a in
ercess of ali other liabilities than the
redemnt;on AZ said United States
notes. M il believed that this sum is
iargelv In excess Of the sum required for
tbe nuroose for which il is held. and
that a considerable part thereof should be
apptied to the payment Of the interest
bearing debt Of the United States now
,payavs payav sh.ll ~ ba usad 70 ,;ehten the
public burdeas. and not unnecessarily
held to lure agents aud representatives
OF .le Peopis5 .nso "'p'''''e"' "'s'
Tucker, from the Committee on Judi
ciary, reported bill providing that no
person shall be held 70 answer ior any
~ Iaaa =, ,;ta ue ~ ,;hert1 @ axcant on present.
ment or Indictment ef The grand Jury,
except in cases arising in land or naval
forces, or IN the militia when In actuai
service service IN .llne IN. u u war iPSa =, Psor'o 'a"'
ElIsberry. Of Ohio. from the Commit.
tee on Invalid Pensions, reported bill
granting pensions 10 all invaiid soldiers
or their widows or children VINO are de-
pendent npon their aaily labor ior sup
port. heferred 10 tne Oomm'seee oi 'he
Whole.
Buchanan, from tne Conhl.tee on
Claims, reported Blu ior the reiiel o.
the Survivors OF the exploring steamer
Jeannette and the widows and cniiaren
Of those who perished IN tne expedition.
Placed on the private calendar.
a, u...
"AshiSefoN' repru"iy oN''''
representing the minority OF the Com
mittee nm Ways and Means. to-day sub.
- A,a.s;ao., h;u AZ.
'ni''su iepo'' on 'Ae
recting the payment oil the surplus III tne
Treasury exceeding Sl00, ,000, 900 in Iiq-
,;dat;on of the national debt "The
,,.....,.. ..
ehco' Vi 'he resoius'on' says 'ne ieP'' >
''if enacted into a law, would be to re-
duoe the balance in the Treasury availa-
h,a for tha navmert ~ ;ta currept in
.s,.-,
deo'edhess anu ioi 'ne reuuo'ion Vi iess'
tender notes to lO0,000,OO0. 1t makes
no proyision for replenishinQ the Treas.
urv when tbe,ayailable balance shall fall
La,,', sIao odn 600 The ouest;on thus
,rass,sad q wbefber IN view of the oh.
fa,;a.ss ~ f,nc,;ons ~ The Treasure
dstnsS hv Iaw the nro.
sad l;m;tat;on of The balance
pos haid sor maetino the liabiIi.
~ naushla =, dsmand i nrndent
J =. 80, ~ tho oladae ~ tbs
If~;,ad a.asa. - radasr, a,i ~ ;rdeht-
adnsss II co;, ~ ~ eouivalent n il
sa,;ers5 .Sat s,oh I;,,,;t..,o,, ,vo,,a hs
unwise. dangerous and AZ variance alike
with the experience of solvent nations
and of sound financial institutions. To
make the ordinary disbursemenrs Of the
Treasury IL is necessary that a reason.
able working balance should be kent on
hand. because at times the current ex.
nenditurea largely exceed the dailv re-.
eeipts. Careful business firms usually
carry a balance equal to one months dis.
bursements. Measured by this standard.
and lower one could not safely be
adontsd because the Secretary of the
Trsssurv has no mower to make tom.
..,.sarv loans the working balance in
~ T,oa.nru ahould he about $40. 600.
noo Thss ,h;s Amount is not TOO large
Dyyi .'1i ~ .~'s.rant from tbe fact that n
~ pai!pa ~ spP Rnreau alone drafts 70,
s,o % aao 900 ,,;ii he n,ada on the frat ol
e,oIo'vy 49, ~ ,haf tba amonnt of probable