Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1888-04-05
Entteth Congress,
TIE sENAis.


TIE SENATE.
WASHINGTON, April mir. Palmer
royrtquesi) introduced bill to test snt
try the science of spelling and to provide
for establishing 100 schoo for that pur-
pose, being the same bill introduced In
tie House by Mr.. LsWler.
Mr. Stewart offered q resolution, which
WAS agreed to, directing the Secretary OF
the Treasury to report Whist precautions
hSve been taken to prevent the import&-
ton Of lead aRd lead ores from Mexico
and Canada IN violation OF the revenue
laws and what Legislation is necessary to
prevent tie smuggling Of lead and lead
ores.
The Senate then resumed the consider.
alton Of the House bill to provide for the
purchase OF Uli'ed States bonds by tt G
Secretary Of the Treasury, the pending
question being on Mr.. Beck's amendment.
Mr.. Al ison desired to Offer an amend
ment 10 extend the time frpm thirty DAYS
to six days, but was informed by the
presiding officer that Mr.. Beck's amend
mens was one In The secone degree, being
an amendment to the substitute.
Q Iestion was taken on Mr.. Beck's
amendment and 1t was agreed to-yeas,
thirty seven; NAYS, thirteen.
Mr.. Reagan offered an amendment, d.
tectIng the purchase and cancellation OF
bonds with 800 600, 900 of gold now In
the Treasury, for the redemption Of legal
tender notes.
Mr.. Fsrwell asked him whether he
meant by his am ndment to suspend spe-
Gle payment, for thst was the way that he
(Fsrw-lD understood it.
Mir. Reagan replied thst the question
had no application at all to his amend
ment, and he proceeded with an srgu-
ment TO show that his amendment ought
to be adopted
Mr.. F.rwell asked him whether he pre-
ierr ID TO say that legal tender notes were
not debs as shown upon their facef
Mr.. r sAgan replied that technically
they were deot, but practically they
vera money. But they we're not the
same sort of debt that the interest bear.
ing bonds which could not circulate as
money, and emily constituted burden on
the tax payers. Ii the object OF legisla-
ton WAS to reduce the surplus and re-
lieVe taxation, then the easiest, most d.
rec! sud least luxurious, was to do it by
the adoption OF mis- amendment.
Mr.. Bsck said that the bill, with its
amendment, was a simple proposition to
allow the President to use the surplus In
lylng bonds, and st same time to take
C4re inst the present volume of currency
WAS not contracted. He appealed to the
SnatOr from Texas to withdraw mis-
amendment, stating that be wanted On
opportunity to # al amendment to the
bill "iOr t1s investment OF certain sums
in the Treasugy"
Mr.. Reagan relying on that ASSURANCE,
win +, W his amendment.
Mr.. Sherman m we'd to amend Mr..
sCk's amendment by substituting silver
bullion for silver coiu over the 1000, 900
moShly, bat the presiding officer ruled
1t out of order, IS the Senate mad already
agreed to the Beck amendment.
Mr.. Sherman said that he knew bis
amendment was not in order, but be
wanted 10 show that the Senate was
forced TO act upon q matter which had
not been carefully examined by the COM
mittee.
The Senator from Texas, he said, had
spoken of there being grest distress in
thatcountry. He (Ms. S lermsp) admitted
that there Was, cut there had been no
euco distress before the present admins
tratlon csme into p 'wer. And he attrib-
used that distress to the fact that the ad-
miDlstrStion had not eI tcuted laws Civ
Ing 1t full power to use the surplus in the
Purchase of bonds. A Democratic House
OF Representatives had also refused to-
pass the bill introduced by the Senator
from New jersey (Mr. McPnersop)
snd passed by the Senate,
allowing national bank currency
to be Issued to he full amount of the
ooGds deposited 10 secure the circulation
Now the banks were required to deposit
& ooni repr .enting over $3.50 in value
lot every 500 If currer CT that they issue
Taat they could rot eff rrd, and conse
q1ently the banks had been forced to
ttduce their circulation. The effect of
tns policy hiss been that since the admin
lstration c2ne into p wer national bank
currency has been reduced by
SlI,655 Aud that was not
all When the banks commenc,
10 reduce the circulation the only Way
mat they could do so was by depositing
tlited ates noes in the Treasury, sud
lnat they bad d ne tn the extent Of Sl02,-
VVVVOO Tina, Sl02, 900, 900 Uoited ates
NOES was DOW tied uo as 8 result Of the
faulty action Of the House of r representa-
yves So the res ult Of that policy of the !
Osmocratic p rty was to make double |
contraction II The currency. II there was
SlsHesS now IL the county, 1t had
Ueen brought about by the policy |
ana movement ct the D smocratlc party. |
~ II was desired to relieve that distress
gould be easily done by continuing the
tmclent national banking system aud re-
moFlng the pre- restrictions on the Is
que 81 uational banking currency. Coming
oack to the sui CT Of National banks, he
plke OF their overthrow SIS something
inst Sould be a "fea'bsr in the esp" VI
toe Democ!atic party and yet the national
uaek currency WAS the best that ever had
existed in The country. He stood there
W etfend the national banking system, |