Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1886-07-15

balsncs hsrsin ersfeEred 70 ubaH b
The avatiAhla enFpisa aseertaiued ae-
eordiuR 20 the form ef the Etafensnf Of
the Unfled S1atss Treasurer ahoginR the
- e4s and liabilities Of TIE Ife9sary Of
tns United States, enpiayea Jnns -,
Mf Hewitt, sG Nsw York, thsn tOok
the aoor 10 opposstion % ths Fesoiutlon.
Tia resol1fioa.' hs sid. sprovidsd
that. whsosReE tha saFslaa exceeded
500 600 o0o, calls for bonds ah nld bs
made. The result Woald Be- that, II
these vas &loa 10000 snrplaa, q call
muss be mads. and tbus the rsssFvs
vould b Esdacsd 10 eelOoo,oo0. II the
gentleman fr0m Illinois did noe intend
% Dc that, BE lad better m0dify The
lananaRe oR The Fesaiation - aa - pro
vide that when the s9rplna reached
Sll0 go 900 there should b = call The
gentleman ffOm Illness hased hia ad-
vo0aoy Of the rssolation on the saving
Of intsrsss. Assuming that e75.ooo0O
vas the amount which wsuid have 70 b
paid out. the saving Of interest would
b about g. $4,000 TIE RentlsmAn
said it would FslsNse from the Treasury
9I0000o0W. which voald 90 into the
ehanaels Of trade. give employment %
10000 men an3 sappOFt 500, 900 people.
Tue gentleman vas too familiar vita the
principles watch governed business. He
did nos know that. IL he aca should i'm
pair pubiio ooUadonoe. the saving Of
81. 80. 900 Wonld be ease of saving At
the spiect ana wasting as the
bunghole. Instead q Riviag employ
mens % 10000 men. they Woald
be dismissed FROM emPloyment on
The hrsi day that the pablie realized
that, under the action of tAi8 res0lu-
ton, the stability Of the Treasury vas
imPaired and is ability % meet its
obligations was undermined. eaoA q
consideration as the saving OF millloHs
was tgiaing IN comparison 20 The dan
ger and the disturbance which would
Fes1lt II the financial tFausaetions Of
the Government we're Seriously impaired
BY the .opsgAtiOns Of the resolution.
The gentleman vas mistaken Il sop
posing thas the RELEASE u tbla money
from the TFeasaRy Wouid put single
msn % WoEk. Tkere we're today idle 10
Naw YORK. nzora than 100000 Of un-
smployed capital. II that capital could
bring profit. it would Be e1pi0yed. II
this s76,000,000 came from the Treas
ury, ID would not Be given 10 men who
wers short Of u1esna- Il would Be paid
~ boadh1ldsFe. Who would simply
pockse the praossds in = market already
absuading With capital. and not . sin
Rle hnman seina w0uid be employed By
reason OF the Telsasa. II thess bonds
we're hsld By individuals. capital woald
not heaF THE complaint against the
resolution. lAppianss. u uas because
10 bore una the National banks 60 the
extent Of 1000 900 Of The psr cents"
That, be thsaQht, vas she mainspEing
OF the hostility TO the measure. He
knew Of no better way Of maintaining
the 0overnmant credit and strengthen
ing is than by paying ita intarert and
buying the honds of its indebeness.
That Was the way Il hal heen done. He
did net obiect 70 the reservation Of
500. .000,0 900 % escnro the gFee1baok oiR.
oulation. The money Vas In the Treas
ury, and all that vas asked Was that the
amounts should be paid out 10 hqaida-
ton OF the pablo Indebtedness. That
vas what basiness men would do; that
was what the Government had done;
and whv, ha asked. was there ali OF this
scare as this timei Why, when thera
vas 9 suggestion Of the pRopriety Of
paving $50 0o0, 900 or so. .000. 600 Of the
public deba. vas there this danger
call aud siRnal7 Thsre vas nothiaR In
it. The G6VeFnmOnt could pay ID With
les8 than tie amount OF greenbaeks
that there were today Ia the Treasury.
He felt assured that within the next
thirty daSs after the first payments the
receipts from customs aAd othar sources
would pot enough money is the Treas
nEV 20 handle another el0.00O.0 600 Of
gold, just as they had handled the trst
SO 600, ,000.
Pavson. of nlinois. said there vas In
the Uuited St4tea Treasury q balance
Of &70O00,000 for which there was con
fessadly no use toiaV. Every doliar Of
it represented an acquisition Of the toll
and labor OF this country, AA5 standing |
against it was debt aabjsot 20 interest,"
that We might pay, and yet, bseauss We
we're feArfal Of foFebOdinRs and laRu |
arions AppFehenaiOns Of what mieht
perhaps ooDe aboat II a portion OF shis
money is used. the House was asked 10
simply stand still and barn she candle
at both ends.
After g lengthy debate the resolution
vas passed BY q vote Of yeas l07, nays
81. The resolution now goes to The Sen
ate.
Adjourned.