Butte semi-weekly miner. [volume] (Butte, Mont.) 1886-1890, 1886-07-31
After Much Discussion the Senate Passes
the Much.M O0ted House Joint
Resolution
Directing the Payment Of the Surplus
in the United States Treasury On
the fublic Debt.
Text of the Measure-The House Re-
sumes Consideration Of the We.
tOed Pension Bills.

OF George A. jerks as Solictor-General
Mr.. Van Wycke offered Il resolution pro
vididing that the %extradition treaty viii
Great Britain shall be considered with oper
doors. 1t will be considered when thu
treaty comes up.
The Senate resumed the consideration o.
the House Joint resolution directing the
payment of the surplus in the Treasury on
the public debt. and was addressed by Mr.
Teller, in continuation OF his speech begun
by him Yesterday, in favor OF the original
resolution and against the amendment re.
ported BY the Senate Committee On Fl.
nance. He had never insisted that the
Government should pay silver for its
bonds, although he had insisted that it
had no right to do SO and the bondholders
would have no right to complain. But, il
the Governments saw fit and was able to
pay gold for its bonds. he had no objection.
He had demanded nothing Tor silver which
lie had not demanded for gold. He wanted
to keep the two metals on an equality, be-
cause. in his judgment, it would be as dis
astrous to destroy gold as to destroy sill
yer. But he said that the government could
DAY this S136, OOO, 900 for the bonds at
the rate OF $1O,O oO,O 900 a month without
paying one dollar in silver. That is il it
chose to do 80. The technicalities of f.
name SO regarded it. The question
was whether the Government should pay
its debt from the money on hand. The
course was the plainest dictatiOn Of com-
mon eense and old fashioned honesty. He
did not trouble himself to inquire whether
the Joint resolution would or would not be
a vote of wan OF confidence in the Admin
istration. That was an argument I'M
worthy to be addressed to a Senator ofthe
United States and it was unworthy OF the
dignity OF his position for him to listen to
such an argument-to suppose that a Sem
ator would abandon his honest convictions
or suffer himself to be influenced by any
consideration other thar those e~ffecting
public good. 1t was insulting to suppose
that the President desired the Senators to
be actuated by any other aim in their
legislative conduct. 1t was not cOmpli-
mentary to him or to the Senate. He
had only inquired as to whether the reso-
luton would promote the general welfare
OF the people. If the people demanded that
legislation it should be as much in their in
terest at least as the interest Of the money
kings. Mr.. Vance spoke in support Of the
resolution as it came from the House. He
believed that the action of the House OF
Representatives in passing the Joint Reso-
luton by 2O7 to IS did reflect the wishes
Of the people, and he proposed to be obe-
dent to the popular request. He was,
therefore, in favor OF the resolution as it
came from the House, pure and simple,
and he was opposed to the amendment be-
cause it increased instead Of diminishing
the Treasury reserve, and because it left
the whole matter to the Secretary of the
Treasury, just as now.a and that the Secre-
tary had declared again and again that the
public debt must be paid in gold. Mr.. Cor
man addressed the Senate III favor Of the
resolution as amended. The debate was
interrupted to permit the Chairman to an
Dounce the appointment OF Messrs. Dolph.
Teller and Cockrell as conferees on the bill
to forfeit the lands OF the Northern Pacific
Railroad. The debate was resumed and
continued by Mr.. Mcpherson in favor OF
the amendment proposed by the Commit
tee on Finance and by Mr.. Wkitthorne in
favor generally OF the House resolution
and particularly in advocacy OF the
bill to restore the proceeds of the
cotton coin in the Treasury and by Mr..
Call on silver generally. but especially
against the resolution aud the amendment
and in favor Of leaving the whole matter in
the hands OF the Secretary OF the Treasury.
Mr.. Edmunds moved to amend the amend
ment to surplus" resolution by substitut-
ing the President and Secretary OF the
Treasury; so that it will read when ia
the opinion OF the President, the public in.
tcTcbU Sud ICNuliC IL uC may AlIcCO Tx
Secretary of the Treasury to suspend the
further CALI eto. Agreed to. Mr.. Cox
moved to add the following proviso: "Pro-
vided, That such suspension and reasons
therefor shall be reported to Congress
within ten days after its next meeting; i'm
mediately if Congress shall be in session.
Agreed to.
After the speech by Mr.. Chase in favor
OF the committee amendment, Mr.. Plumb
moved to strike out the clause giving the
President the right lin case of emergency
jected, yeas-29, nays-34. MIR. Eustis
moved to insert the words including the
payment OF bonds, interest thereon, the
same being under existing law payable in
gold or silver coin at the option OF the
Government Rejected, yeas-26, nays
81. The committee amendment as
amended was then agreed to, yeas-37,
nays-27. Mr.. Sewell moved as an amend
ment the bill for the receipt OF Trade dol
lars at par value. Mr.. Edmunds moved to
lay it on the table. Rejected. The amend
nays-29. The Joint resolution and amend
ment were reported to the Senate. A vote
was then taken on the Trade dollar
amendment and it WA agreed to, yeas-33.
nays-3O.
Mr.. German moved to lay the Joint reso.
luton on the table; rejected-yeas 5, nays
81. Mr.. Ingalls, moved to strike out all
after the enacting clause and to insert
THAT the Secretary OF the Treasury shall,
beginning September 6. 1886, until thirty
days after the meeting OF the second ses-
sion OF the F%orty-ninth Congress, apply
the surplus in excess OF 500, 600, 600 in
the Treasury in sums not less thar $1O,-
600, 600 per week to the payment of the
Understanding indebtedness OF the United
States, payable at the option OF the Gov
eminent. Rejected-yeas 25, nays 80.
The Joint resolution was then passed.
Yeas AZ, nays 20. The joint resolution as
passed isa follows:
Be it enacted, etc.. That whenever the
surplus OF balance in the Treasury, includ-
ing the amount held for redemption Of
United States notes, shall exceed the sum
OF one hundred millions OF dollars it shall
be and is hereby, made the duty OF the
Secretary OF the Treasury to apply such
excuses in sums not less than S1O,-
600 900 per month, during the exist
ence OF any such surplus or excess,
to the payment OF interest bearing indebt-
edDess OF the United States payable at the
option OF the Government. The surplus
or balance herein referred to shall be avail.
able surplus, a~scertained according to the
form OF statement OF the United States
Treasury OF assets and liabilities OF the
Treasury OF the United States employed on
June 80, 1886. PROVIDED, That no call
shall be made under the provisions OF this
resolution until a SUN equal to the call is
in the Treasury over and above the reserve
herein mentioned; and providing, further,
that if the Secretary OF the Treasury in
his discretion may have in the Treasury
over and above the foregoing sums. a
working balance not exceeding $50, OO0, 600
and whenever in the case OF any extraordi-
nary emergency not o existing and when.
because thereof, in the opinion of the Presi-
dent the public interests shall require, he
may, by written order, direct the Secretary
Of the Treasury to suspend the further
call for payment OF such indebtedness for
sucn period of time as shall be necessary
to maintain the public credit unimpaired,
and that such suspension and easoDs,
therefore shall be reported to Congress
within ten days after the next meeting. or
Immediately if Congress shall be i'll session.
That for the period OF six months after the
passage thereof United States trade dollars,
ifnotdefaced, mutilated orsta mped, 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
reissued. That holders OF any United