Savannah morning news. [volume] (Savannah) 1868-1887, 1886-07-30
.rrRrrLATING THE CASH.
.srvATORs DISCUSS MORRIsON's
PROPOSITION.

n - ,nendment as Better Protect
"a. secretary Of the Treasury
cisratinn that No Arrsignment of
- no,,ocratic Administration is In
...dsd bv the House.
WARRINGTON, July 29.-Ihe Senate at
,,o1o o'clock this morning proceeded to
..ifaratjon of the House joint resolu-
.,n' IN applv the surplus in the Treasury
'..,,. navment Of the public debt, Mr..
p,,.r oiylng notice that at the first oppor-
+,,,4y he would call up the vetoed pen
oio, bills according 10 their order on the
o,Ior4sr. Mr.. Ellison, who had reported
s,.t the resolution from the Committee
a, Einance, opened the debate. He spoke
,ftba IMPORTANCE of the subject, and how
onaned up the whole financial question
the government, but hoped that at this
Iots srage Of the session the discussion
uopd becosely confined to the distinct
noipts involved. These were two-the
frst relating to the currency, and the next
rsIating 10 the management of the cure mt
Msiness Of the government.
THE RESERVE FUND.
had been mUOted question whether
or NOT I'D 70 this time there had been a
dstluct setting apart OF any specific sum
0r the purpose of maintaining the re-
dpmution Of United States notes. He did
nnt himself believe that there was any
sp4ci6c legislation on the statute book re-
oujrlng absolute reservation OF any spe-
ellie sum Of money, although he thought
II could be fairly stated that there was in
the Treasury reserve which, without
tho mint IN ha
maintained under the statutes of 1919
and 1852.
HIS BELIEF.
Ha asserted his own belief that there
had been by those two acts devotion or
dedication Of $4,000 900 to be held in the
Treasury for the purpose of maintaining
atpar in coin all paper money issued by
M9 government. The House joint reso-
luton known as the Morrison resolution
wOu0sed in absolute terms to set apart,
5edicate and devote Sl00,0OO,OO0 for the
specific purpose of redeeming United
Sa,es notes and for no other purpose
Whatever.
EFFECTS OF ADOPTION.
If that joint resolution should pass
without the dotting OF an 'I'' or the re-
crossing Of st." it would stand in the
in managing current business. IL the
Secretary should undertake to use any
portion Of that $l00, ,000 for current OBJ
lgd.lUns, he would violate distinct
md clear provision Of the law. Therefore
was that the Committee on Finance
lad thought it wise to reserve a further
80rkug fund Of 100000 900. If the Joint
resolution had been in force few years
ago when the arrears of pensions act was
passed, that act could not have been ex-
ecuted by the Secretary OF The Treasury &.
PENSION DRAINS.
Congress might again and he believed
tlat justice and fairness required it to do
50 provide additional legislation respect
Ing pensions. The Senate had at The
present session passed a bill which would
Coniessedly Increase the annual pension
expenditures by SIP, 100000 or 5000, 900.
mat bill was now pending IN the House
and would, he hoped, become a law before
Nv close Of the session. If it did and if
lAe House resolution were in full play the
pension law could not be carried out.
NEEDED AS A RESERVE.
Therefore 1t was that the Committee
On Finance believed it wise
70 have this 100000 as plia-
DE and flexible fund that could be drawn
si"" 40 Il UdslS WbeH tue treasury was
u5Pe'ed. In the course Of his speech be
defrtd TO senator Beck's speech deliv-
tTed last December, and said that the
Democratic administration had come
mo power by crlticising adversely the
luancial policy of its predecessor, and
,@ing that more money was held in the
ea'uly than was necessary to carry on
sle ordinary operations OF the govern
n,a, ana 10 maintain paper money at
AHEAIGNING SECRETARY MANNING.
iI'l March until Dec. 20 the Demo-
r'u' ADMINISTRATION, instead OF paying
'.' nus on The public debt, had accu-
1ru'"eu more than $GO,00O,000 in the
s''"! over and above the proper re-
w. w. ana mat 1t was only the speech of
GU major from kentucky that put stop
=, I'G . IoHcy and caused the first call for
'HN.Hons 10 be Issued. The House
i"uou, ne said, utterly and absolutely
4o nHeu tue financial policy of
zs o"l"'3IlNinIstration. The senate Commit
,os+'. ,u nance had modified and sugar
irr ll some respects" this cOndemna-
ts ,1I iIi IL also proposed to condemn
Gar, Pucy' aud it would stand con-
l. .'.,t os'oIe the country whether the
'''" SHOULD be amended or not.
A. , N' NENsUBE INTENDED.
i .''' n-0A said the Senators on either
W. anu lhe administration, might as
rs ,1'. ', mss all apprehensiOns relative TO
ga,,...,.,'es and purposes of the House of
irf e"'"uFes in the passage of the
ums uuon, and might as well as
coo.fr,t, ,ue House OF Representatives
VITA +,' ''eu as II was in friendly accord
hen, t. rAecutiNe branch OF the govern
either rt'l +'u Aot undertaken by resolution
haag.. ooehsuIe, condemn or embarass
il wa.f',Il'e branch OF the governments.
uat o.a '.' l' say that the House believed
fare. ar5, ,' tonaaciug to the public well
Oh t5e I.'3. bringing any embarrassment
administration.
b.. .,., THE sENArE's OBJECT.
R'e ar",, G.t see any purpose In the Sen.
praot'. N'NeuJs, which did not make any
O. mran,'l h-e IN the resolution, except
leuocr.,.. W say To the country that the
rlt to Nv. u'u-e OF Representatives was
e.us i, trusted, and that tho Republi-
Chance, ile senate had TO amend and
'Icu.. ir W order to take away what was
llat t5s-, 'De resolution. Not believing
Ing tmf as any vice in it, but believ-
lls rq,1l,,,i ,,iDuer existing circumstances,
admin D..tratt,oA was fair ana just to the
as il c,I'.' D, be should vote for it lust
rom the House.
Eo., MANNiNG's REASONS.
Ireasury ,',el Ho5l tnat the Secretary OF the
BEYOND It'U neid money in the Treasury
trbuad uat was needed. but he al
New NJ" tNal 10 combination of mon in
ste Ia hi, ~ ana elsewhere who did NOT de-
0fed IN lave ave bonds called in. and endeav-
lAere wonI5Ne the Secretary believe that