The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1886-08-05
The Surplus ResoI11toin.

The debate in the Senate on the Morri-
rison Surplus Resolution. (which has
passed the House, as amended by the Sen
ate Finance Committee, closed on Friday
evening last. A number OF amendments
were proposed, most OF which were de
feated. A motion 10y Mr.. Plnmb to strike
out The clause giving the Secretary Of the
Treasury power to suspend the ilw was
lost by 20 to "a. A motion uf Mr.. Eustis
to declare Government bonds to be re-
deemabIe in either gold OF silver was lost.
A motion by MI. German to lay upon
the table was defeated, S to 81. The FL
nance Committee notifications were then
indorsed, 81 to q. The words mot now
existing" were inserted to qualify the
authority to suspend the law in the event
of an emergency. Senator Sewel then
succeeded in having section added pro
viding for the redemption Of trade dollars ;
adopted, SO to 80. The revised resolution
was then called up for final vote on it's
passage and adopted AZ to 20. The text Of
the resolution is as follows
Re ii enacted &c., That whenever the surplus
or balance in the Treasury, including amount
shall exceed the sum of 00000000 it shall be
| and is hereby made, the duty of the secretary
of the Treasury to % apply such excess, in sums
existence of any such surplus or excess. to the
payment of the Understanding Indebtedness
| Of The United States, payable at the option of
! the government. The surplus or balance here
! in referred to shall be the available surplus,
ascertained according to the form Of statement
| tai otocu TO a,,d
employed on June 80. 1856. Provided, That no
| cali shall be made under the provisions of this
resolution until a sum equal TO the call is in
| the Treasury over and above The reserve herein
mentioned And Proesdea jgf h;s rnat the
| may have in the Treasury, over and above the
| foregoing sums, working balance not exceed
ing $50 900: and whenever IN the case of any
| and when, because thereof, in the opinion OF
the President TIE public interest shall require
| taIy of the Treasury to suspend the further ca!
| for the payment of such Indebtedness for such
| period of time as shall be necessary to main
| tain the public credit unimpaired, and that
such suspension, and the reasons therefor, shall
be reported to Congress within t. ten days afte1
| next meeting or Immediately. If Congress shall
be in session. That for period OF six months
after the passage hereof United States trade
shall be received at their face value in payment
of all dues to the United States, and shall mol
ssed DC That Pao the holder of any United States
trade dollars during the period aforesaid, OF
presentation of the same at the Office of the
Treasurer or any assistant treasurer OF the
| United States, may receive in exchange there
for q like amount and value, dollar for dollar
in standard silver dollars, or in subsidiary
coins, at the option Of the holder and OF the
| United States.
The vote on the passage of the resolution was
as follows
Yeas-Messrs Aldrich, Allison. Blair, Brown
Cali. Camden, Cameron, Chace, Conger. Cul
ION, Dawes, Dolph. Edmunds, Evarts, Frye
Gibson, German, Gray, Kaie, Hampton, Harri
son, Hawley, Roar, Jones (Nev), Kenna, Nc
MILAN, MCPHERSON, Malone. Miller, Palmer
Payne, Platt, Pugh. RiddIeberger' sabin 1N say
yer, SeWell, Sh f1rar Pa Spofo9ner' van "ycK
Nays-Messrs. Beck, Berry, blackburn, But
Ter, Cockrell, Coke, Eustis, Harris. ingalls,
Jones (Ark.), Maxey, Mitchell (Oye.), Plumb
| Stanford, Teller, Vance, Vest, Voorhees,, Whit
thorne and Wilson (Iowa)-20.