The Portland daily press., 1888-03-01
THE NATIONAL CAPITAL.
Congressman Reed on the DIsposI-
ton of the Surplus.
A Partisan Conspiracy In the Inter
est of Free Trade.
Outside Pressure and Fear Of Panic
invoked to its Aid.

invoked to its Aid.
WASHINGTON, Feb. 29.-The House today
went into committee of the whole forthe
consideration of the bill authorizing the Sec
retary Of the Treasury to purchase bonds
with the surplus.
Mr. Mills explained the doubts Of the Sec
retary of the Treasury as to his authority
under the law of 1881 to purchase bonds
with the surplus beyond the period covered
by that bill The Secretary asked Congress
to make his authority undoubted.
Mr.. Mckinley contended that the act OF
1881 gave ample authority. The integrity OF
that bill was never questioned until the
President questioned it. The President
based his refusal to apply the surplus to the
redemption Of bonds on the ground that the
1881 law was a part of the appropriation
bill The same ground would apply to half
the public statutes, including law which
raised the Presidents salary. The admins
tration's friends should explain why the sur
plus had not been paid out honestly and log
ically on the government debt, stopping
interest charges. He thought the ulterior
ODJtCb VI ttC Diil tlC ACoAAShe 2 ooeASA
was to create scare and break down the
protective system. The present bill was un-
necessary.
Mr.. Weaver of Iowa said the country was
in the grasp of gigantic and cold-blooded
money trust. The surplus was not in the
treasury, but in the national banks, score
Of which had been stuffed for quarter OF
century past with government money,wrung
from the people by unjust and unnecessary
taxation.
Mr.. Reed of Maine, said he always felt the
management of the.fnances by the treasury
was too serious for partisan action and had
once or twice defended the administrations
treasury management but believed its pres
ent action worthy of criticism. 1t had been
necessary to vest in the treasury department
some discretionary powers. The past year
the Secretary has been called upon to exer-
else those discretionary powers, and failed to
do so. The 10th Congress left the Secretary
ample power to meet the surplus exigency.
Why had it not been met? To defend the
bubble that the power was lacking because
given in an appropriation bill was a strange
attitude for the Democratic patty which for
ulcIly WOulQ uUt DC outbcQ uLlcoo CNCly law
was on the appropriation bill. 1t had been
the Secretary's duty to get the surplus out of
the treasury, and there was one simple way
the purchasing of bonds. Instead the money
had been loaned to the National banks. The
emergency had come through the neglect OF
Democratic Congresses, though not by the
absence of the wisdom Of some Of their better
men. Both Orlando Porter and Mr.. White
had proposed bills by which every dollar of
the National debt could be demandable and
payable by the government without
disarrangement of the finances. Why
had not this been done? Because men
pursued the empty vision Of free trade poll
cy to be accomplished not by its merits, but
by outside pressure and fear of panic, mis-
leading the feelings but not affecting the
Judgment. He believed the present financial
condition of the country; partizan piracy
against protection, The surplus had been
accumulated with regerd to its effect upon
the people, so they might clamor for some
thing which would lead in the impracticable
direction in which the chairman OF the ways
and means committee had endeavored to lead
the House. When the Goth Congress came, a
spectacle met.it The President with his
message, a message which neglected every
interest of this yast.empire, which placed on
one side every question except the
tariff BILL 1t demanded the atten-
tion of Congress, and that subject was utter
ly unmentioned for three long months in the
committee TO which that unique message was
consigned. That was called business.
TLaughterl He did not wonder the subject
of manufactures approached from the long
distance of Texas and Arkansas might re-
quire some time TO be 0vertaken, but, surely,
the heavy pressure of the surplus, which
ought at least to be pressure of 1000 pounds
to the square inch, ought to have given force
enough to the cause with the committee.
The President said on the tariff and sur
plus Congress must act instantly. What
had been done? Three months had rolled
by and the committee on ways and means
had never spent a day on the tariff. That
object had never been mentioned In the COM
mittee room in full public meeting. IAp-
plause and laughter on the Republican sidel
He had heard from various sources there
was being matured something that would
finally get out of seclusion and be presented
to the members of the committee, but thus
for it was q singular fulfillment oil the
scriptural idea that the thing had been hid
"from the wise and prudent, and revealed
only to the gentlemen upon the majority OF
the committee. The trouble with the coun-
try was not the trouble with taxation, but
the trouble of an accumulation of money in
the treasury. The first duty of the commit
tee of ways and means should have been to
make lsome provision whereby the bonded
debt might be made redeemable by the
treasury. Then the people, undisturbed by
ulterior influences, might have had an OPP
portunity to calmly and carefully con-
slider the question of a reduction of taxation.
But the method of piling up money in the
treasury to attack the general business of
the country for the purpose OF. attacking
the system of protection deserved and would
receive the condemnation of thinking men.
Applause on the Republican side.
Mr.. breckenridge Of Kentucky, said the
administration was not responsible for the
condition of the Treasury. He charged the-
Congressman of falling to vote for tagsiI re-
duction for fear of their ceasssssaents whose
revenue would suffer. --.1essrs. McKinly and
Reed had beep partly responsible for the
conditie2e-s 81 The Treasury. He favored the
Mr. Randall favored the passage of the
bill. for while he did not consider it neces-
sary, it would do no harm and would free
the administrations mind OF doubt as TO its
authority. As to the conspiracy against the
protective system OF the United States, he
did not believe such ever existed
The committee then rose and reported the
bill to the House and it was passed with the
McCreery amendment without division.
Maine People Pensioned.
The following Maine pensions were grant
ed to-day;
ORIGINAL. INVALID.
William W. Bradford Carmel
George L. Clark, Berwick.
James A. Warren, Buckheld.
INCREASE.
Benjamin +. Genthuer, Dover.
John Bradbury, National Military Home.
Luther X. Rohers Br0wnfeld.
Reuel Phillips. Leyant.
John Chase, National Military Home.
Isaac l.. Brown, East Hiram.
Everett l.. Walbridge, Jonesport.
REISSUE,
Daniel Haney National Military Home.
VIM. II. Webster, National Military Home
REISSUE AND INCREASE.
Benjamin f. Russell, Exeter.
John G.. Crabtree, South Hancock.
John Meserve, Casco.
Notes
Orders were issued today for the discon-
tinuance after April 1st of the signal service
station at Eastport, Maine.
Mr.. Kelly, of Pennsylvania, in the House
today, denied that he had stated that the Re-
publicans would obseruet the passage Of a
tariff bill until the ST. Louis convention
The Senate has passed the Vest substitute
for the Dawes bill providing for the educa-
tion of Indian children and the teaching
them of useful trades.
Senator Vest made powerful speech upon
the pension bill from the Democratic stand
point yesterday. Senators Teller, Platt and
Plumb replied.