The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-04-17
COLDS GLITTERING GLUT.
The Secretary OF the Treasury Can
Purchase Bonds.

WASHINGTON, April 16.-The bill pro-
v1ding for the investment of certain funds
in the Treasury was taken up in the Senate
to-day, and Mr.. Farwen addressed that
body upon it. He gave notice of his inten-
tion to offer two amendments to it, one
directing the Secretary of the Treasury
to sell to national banks 216 per cent.
bonds to be used as security for
circulation and the o.her to permit the use
of approved county, State or municipal
bonds as security for the circulation of ma
tional banks. Upon the conclusion of Mr..
Farwell's remarks, a running debate upon
questions raised by him, participated in by
Messrs. Stewart and Reagan, took place.
ACTION BY THE HOUSE.
In the House to-day, when the Committee
on the Merchant Marine and Fisheries was
called. Mr., Dunn, the chairman, waived the
right of the committee and yielded the floor
to Mr. Wilkins, Of Ohio, who moved to sus-
pend the rules and adopt the following res
olution:
Resolved, BY the House of Representatives
that it is the sense of this House that section
of ''the act making appropriations for sundry
civil expenses of the government for the year
ending June 30, 1882, and for other purposes, "
approved March 8, 1881, which is as follows:
That the Secretary of the Treasury may
at any time apply the surplus money in the
much thereof as he may consider proper, to the
purchase or redemption of United States bonds,
provided that the bonds so purchased or re-
deemed shall constitute no part of the sinking
fund, but shall be redeemed and cancelled, :"
was intended to be a permanent provision of
law, and the same is hereby declared to have
been since its enactment, and to be now, in the
opinion of the House, in full force and effect.
OBJECT OF THE RESOLUTION.
Mr.. Wilkins explained that the sole OBJ
ject of the resolution was that the House
should declare its Interpretation of the law,
there being some doubt in the mind Of the
President upon this subject.
Mr.. Wilkins resolution was adopted by a
vote of 13S to g.
THE NEGATIVE VOTE.
Following is the negative vote:
Messrs Abbot Anderson of Illinois, Ander-
son, of Kansas, Atkinson, Baker, of Illinois,
Bland, Brewer, Brumm, Bunnell, Burnes,
Cheadle, Chpman, Conger, Dockery, Dorsey,
Fisher Fuller, Gest, Glover Grimes, Heard,
Henderson, of Iowa, Henderson, of Illinois,
Holman, Hooker, Hopkins, Of Illinois, Hopkins
of Virginia, Honey, Johnston. Of Indiana
Johnston, of North Carolina, Jones' Kelley,
Kerr, Kilgore, Laidlaw, Laird, Lanham, Lind
McClammy, McKenna, McRea, Nelson, Nichols,
Norwood, Pennington, Plumb, Post, Powell
Shively, Smith, Snyder, Stewart, of leHas,
Stockdale, Tillman, Wade, Warner, Weaver
Whiting Wilkinson-6.
1t is practically identical with Mr..
Spooner's substitute for the House bill au-
thoriZing the Secretary of the Treasury to
purchase bonds with the surplus. Mr.. Will
kins' explanation of its object corresponds
with that given by Mr.. Spooner when he
offered his substitute.
Messrs Weaver, Bland and other silver
men opposed Mr.. Wilkins resolution
because it meant the death and
burial of Mr.. Beck's silver coinage amend
ment to Mr.. Spooner'S substitute.
MR.. wEAvER's PROTEST.
The Spooner-Beck bill is now before the
Ways and Means Committee and Mr..
Weaver held that it would have been Just
as easy, if the House had so desired, to call
that bill uD and take vote upon the Beck
clause as it had been to take vote upon
this declaratory resolution alone.
Mr.. Brumm argued that the resolution
had been improperly brought before the
House.
Mr.. Mcmillan, on behalf of the Ways and
Means Committee, said that owing to the
recent deadlock in the House, that commit
tee had not been able to hold a meeting
since the bill came back from the Senate.
Speaker Carlisle explained that to-day
had been set apart for motions to suspend
the rules, preference being given to the
committees, and that while t15 tntrcGuc-
tion of this resolution by an individual WIS
"A departure from the established custom, it
was not in terms prohibited. The House
then adjourned.
HOW THE COMMITTEE STANDS.
The majority of the Ways and Means
Committee have determined that the bill
authorizing the purchase of bonds with the
surplus amended by the Senate shall re
main quietly in committee. w. G. ?.
Breckinridge offered in the House to-day a
resolution declaring it to be the sense of the
House that the Secretary of the Treasury
has power under the act of March
8, 1881, to buy bonds with the surplus. This
was referred to the committee and will be
reported by it in lieu of the amended bond
bill. 1t Will be adopted by the House, and
the Senate having already voted that in its
judgment the Secretary of the Treasury
has power to buy bonds with the surplus
under the act of March 8. 1884, the Secre-
tary of the Treasury will now feel author
lied to do so.
MRS. HANCOCKS HOUSE