Morning journal and courier., 1886-07-31

standstill in business. He attributed this
! the efforts being made in all the legislati
governments of the world to destroy one-ha
of the money to enhance the value of the OF
er half. He would vote for the resolution
it came from the House.
Mr.. Vance supported the resolution as
came from the House.
Mr.. German spoke in favor of the resol
/ ton and asked his Democratic frien.
) why they condemned even by imp
! cation one of their officials wi
had had the courage to do that which WI
, right and that which he was authorized
, do. During his speech colloquy took pla
between him and Mr.. Coke respecting tt
payment of bonds in silver dollars and
| answer to a question Mr.. German said
! did not think it would be an improper thir
for the Secretary to pay out some of the 81
yer dollars on the bonds. He was for silv'
; and gold. He stood precisely where h
party stood, the declaration of the Chicae
platform for honest money.
Mr.. Coke asked if Mr.. German considere
the silver dollars in the treasury homes
money.
Mr.. German said SO long as the law r.
mains on the statute book declaring thel
lawful money as matter of course they al
lawful money.
Mr. Coke-Are they '.honest money!"
Mr.. Gorman-We are bound to assum
| that Congress had made the silver dollar
| honest money, DuG Notwithstanding
edict we cannot make the people keep tn
| silver dollars in preference to gold. He thel
| proceeded to show how Secretary Manning
had averted threatened panic by keeping
| larger reserve than before and retaining tn
parity between the metals. He thought i
extraordinary to pass resolution condemn
ing the Secretarys policy.
Debate was interrupted to permit the ap
pointment of Messrs. Do1ph, Teller and Cock
| rell as conferees on the bill to forfeit the
| lands of the Northern Pacific company.
Debate being resumed Mr.. Gibson favored
| the amendment to the surplus resolution
proposed by the Finance committee.
Mr.. Whitthorne favored generally the
House resolution and Mr.. Call spoke on the
matter in the hands of the Secretary of the
Treasury.
Mr.. Edmunds moved to amend the amend
ment to the surplus resolution by substitut-
ing the President for. the Secretary of the
Treasury so that it will read, F'When in the
shall require it he may direct the Secre-
tary of the Treasury to suspend the further
call, I" etc.
Mr.. Mcpherson could not see the propriety
of the amendment and said the matter had
been discussed by the Finance committee.
Mr.. Edmunds stated that the duty of sus-
pending the execution of a law did not be-
long to the Secretary of the Treasury and
should very rarely belong to the President.
On many occasions It had been found neces-
sary to vest in the supreme executive power
Tin emergencies the power to suspend law
But it had never been vested in any subor-
dinate officer and never ought to be.
The amendment was agreed to.
Mr.. Coke moved to add the following:
provided that such suspensions and the
reasons therefor shall be reported to Con
gress within ten days after its next meeting
or Immediately if Congress should be in
sion;" agreed to.
the committees amendment Mr.. Plumb
moved to strike out the clause giving the
President the right to suspend the call. The
motion was rejected, 90 to "a.
Mr.. Evarts moved to insert the words Gin
Guiding the payment of bonds and interest
thereon, the same being under existing law
payable in gold or silver coin at the option
81.
The committee amendment as amended
was then agreed to; yeas 81, nays 81.
Mr.. Sewell moved an amendment the
bill for the receipt of trade dollars at their
face value; agreed to.
The joint resolution and amendments were
reported. In the Senate vote on the trade
dollar amendment resulted Yeas SO, nays
80. Mr.. German moved to lay the resolu-
ton on the table; rejected, yeas 5, nays 81.
Mr.. Ingalls, moved to strike out all after
the enacting clause and insert: ''That the
Secretary of the Treasury shall, beginning
September 6, 1886, until thirty days after the
meeting of the second session of the Forty
ninth Congress apply the surplus in excess
of 800, 900 in the treasury in sums of
not less than $40, 100000 per month to the
payment of the interest bearing indebtedness
of the United States-payable at the option
of the government; rejected, yeas %, nays 80.
The joint resolution was then passed: Yeas
AZ, nays 20.
Dawes, Dalph, Edrnunds, Evarts, Frye, Gibson,
Hoar. Jones', s Kenn s Mcmillan, MePherson. Ma
hone Miller Palmer Payne Plstt Pugh Ridde
VanWyck, walthall and Wilson, Md.-42.
NaysL;Beek Berry. III Blaek6Trn but Butler Cock.
Maxey, Mitchell, Oregon; Plumb, Stanford, Teller,
Vance, Vest, voorhees,. Whittemore and Wilson,
1owa-20.
The joint resolution as passed is as fol-
lows;
Be it enacted etc., That Whenever the sur
plus or balance in the treasury, including
the amount held for redemption of United
States notes, shall exceed the sum of $780,
900, 900, it shall be and is hereby made the
duty of the Secretary of the Treas
of not less than 100000 per month dur
ing the existence of any such surplus or ex-
cess to the payment of the interest bearing
Indebtedness of the United States. payable at
the option of the government. The surplus
or balance herein referred to shall be the
available surplus ascertained according to the
form of statement of the United States treas
urer of the assets and liabilities of the treas
ury of the United States employed on June
80, 1886, provided that no call shall be made
under the provisions of the resolution until
sum equal to the call is in the treasury
over and above the reserve herein mentioned;
and provided further, that the Secretary of
in the treasury over and above the
not exceeding $4,000, 600 and whenever
in the case of any extraordinary emergency
not now existing, and when because thereof
in the opinion of the President the public
interests shall require it, he may by written
order direct the Secretary of the Treasury to
suspend the further call for the payment of
such Indebtedness for such period of time as
shall be necessary to maintain the public
credit unimpaired, and that such suspen-
sion and the reasons therefor shall be report
ed to Congress within ten days
after its next meeting, or immedi-
ately if Congress shall be in session.
That for period of six months after the
passage hereof United States trade dollars if
not defaced mutilated or stamped shall be
received at their face value in payment of
all dues to the United States and shall not
be again paid out or in any other manner is
sued. That the holder of any United States
trade dollars during the period aforesaid, on
presentation of the same at the Office of the
treasurer or any assistant treasurer of the
United States, may receive in exchange
therefor a like amount and value dollar for
dollar in standard silver dollars or in subsi-
diary coins at the option of the holder.
The House bill to increase the naval estab-
lishment WAS then taken up and amended
Mr. Wbittehorne, member of the Naval
committee, expressed his resiet that he coulo
not concur with the majority of that commit
tee. The gravest error would be committed
in the expenditure for the completion of the
monitors. 1t would be better to sink the
money in midocean than to lead the country
to rely on those monitors, which were not
worth cent. The amendments were agreed
to and the bill passed. A conference was
asked for and appointed.
The Senate at p. m. adjourned.
HoUsE.-On motion of Mr.. Rockwell, of
Massachusetts, Senate bill was passed au-
thorizing the construction of a public build
ing at Springfield, Mass, with an amend
ment reducing the cost from $3.50, 200 to
100000.
In compliance with the Management made
yesterday the House resumed consideration
of the vetoed 1,apsioD hills the first being