St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-12-08
LEVELED AT LEssEPs.

The Nicaragua Canal Bill Dis
cussed at Length in the House.
Special to the Globe.
WASHINGTON. Dec. THE feature
of the house proceedings to-day was
the discussion of the Nicaragua canal
bill. In his opening prayer the house
chaplain referred to the prevalence of
yellow fever in the South and invoked
the aid of the Almighty to keep the
plague from our homes. In the morn
ing hour MIR. Foran reported the in
valid pensions appropriation bill. Mr..
Crisp, OF Georgia, submitted the report
OF the committee on elections in the
Small-Elliott contested election case
from South Carolina. 1t finds in favor Of
Elliott. The minority report presented
by Howell. OF Illinois, provides for the
seating of Small. Both reports were
placed upon the calendar. The house
then went to the private calendar, the
pending business being the senate bill
to incorporate the Nicaragua Canal
company. Mr.. Spinola, of New York,
offered an amendment striking out the
clause which authorizes the company to
exercise the powers conferred upon it
by the government of Nicaragua. He
spoke of the company as a stock-jobbing
affair. Mr.. Cox, of New York, said he
did not know what grounds his col
league had for this accusation. He
urged the Importance of the passage of
bill from commercial standpoint. The
United States needed
REVIVAL OF ITS SHIPPING
interests. Mr.. FarQuhar, of New York,
opposed the amendment. He declared
that the bill, if passed, would place in
the hands of the United States the key
of the South American and Indian
trade. Mr.. Marsh, of Pennsylvania,
said there was no constitution, state or
federal, which would authorize the
granting of such an incorporation as
was proposed by the pending bill. MIR.
SpInOla said that he feared that, by inn
plicatiOn. the government might be held
to a financial responsibility. The COM
pany. he said. had left it for the drum
merS and heelers to explain to capital
lists, at home and abroad, that the gov
eminent has given them charter. The
language of the bill was similar to that
used iii the Centennial exposition bill,
and the government has been obliged to
make that appropriation good Mr..
Reed, of Maine. SAID that the gentle
man was as much out in his history as
he was in his law. Mir. O'Neill, Of
Pennsylvania. said that the Centennial
loan was paid by the people of Penn
sylyanla and not by the government.
Mr. Holman, of Indiana. said the bill
was unconstitutional. and that if it
passed in it's present shape congress
would be asked in less than ten years
to guarantee the bonds. MIR. Rayner,
OF Maryland. and Mr.. Kerr, of Iowa,
in fau nf
Kerr asked IT this company was being
incorporated in the interests of the
Panama canal to prevent any other
company coming in, as had been ru-
mOred. Mr.. Clardy denied the truth of
the runlOr. After some further discus
sion Mr.. Spinola'S amendment was re-
Jected. Mr.. Holman offered an amend
ment providing that nothing i'm this act
shall be construed to commit the
United States to any liability on ac-
count of the company. Mr.. McAdOO,
of New Jersey, said that it was ineyita-
BILE that there should be
CANAL THROUGH THE ISTHMUS.
If it should be built under foreign
patronage, the United States would find
itself entangled in its efforts to protect
the isthmus against foreign influence.
Mr.. Phelan. of Tennessee. thought that
every suggestion made by Mr.. McAdOO
was an argument against the passage
of the measure. Mr.. Cobb, of Alabama,
moved an amendment to the amend
ment of Mr.. Holman providing that the
disclaimer shall be printed on every
bond and other obligation issued by the
company. 1t was adopted, and Mr..
HOlman'S amendment was then agreed
to. Mr.. Bland. of Missouri, offered an
amendment as follows: Providing that
congress reserves the right to alter,
amend Or repeal tt is act, and to regulate
the tolls or tariff rates for the trans
portation of persons or property by
the company or its assigns. 1t was
agreed to. On motion Of Mr.. Marsh. of
Pennsylvania, an amendment was
adopted, requiring the construction of
the canal to be begun within three
years. An amendment requiring the
canal to be completed within ten years
was voted down. On motion of
MIR. WILSON, OF, MINNESOTA,
an amendment was adopted providing
that no certificates of stock shall be
issued until at least 10 per cent of the
sums subscribed shall be fully paid for
i'm money at the par value of the stock,
and the money deposited in the treasury
of the company. No payment Oh ac-
count of the capital Of the company
shall be paid except in money, and the
company is prohibited from return
ing Or repaying any part of the
money so paid. No bonds in excess of
the amount of the capital paid in shall
be authorized until such paid capital
shall amount to S5,0O0,0G0. No part of
the capital stock paid in shall at any
time be returned to the stockholders or
diverted from the proper uses of the
corporation. A violation of any of these
provisions is punishable by fine of
$4,000 and imprisonment for five years.
Mr.. Stockdale. of Mississippi, offered
all amendment providing that the con-
cessions of the Nicaraguan government
shall not be changed, nor shall the COM
pany release the government of Mic
without the consent of the United
States; and any violation of this pro-
vision shall operate as
FORFEITURE OF THE FRANCHISE
of the company. Mr.. Dingley, of Maine,
said that it seemed to him that there
was settled purpose on the part of
some gentlemen to defeat the bill by in
direction. MIR. Herbert, of Alabama,
said that the government in incorporat-
ing the company established protectO-
rate over the canal, with all that the
word implied. He was not here to say
that that ought not to be done: but it
should be done with eyes open. Mr..
McCreary, of Kentucky, and MIR.
Wheeler, of Alabama. briefly advocated
the bill, and argued its constitutional
ity. Pending a vote on the amendment.
the committee rose and the house at
4 80 took recess until 7:30.
At the evening session the house
passed ten pension bills, and at 10
O'Clock adjourned until Monday.