National Republican., 1888-03-27
DISCUSSING BOND BUYING.
gHE SENATE DEloTES \ DAY 70 DEBiT-
ING ON FINANCE
Il General Expression or Opinion from
the senators -- District Day In the
House Defending Grave Robberies-
Much Fun on u solemn subject.

,ontcd and referred IN the Senate yesterday
were several from the Iowa Patrons of lIus
landry, asking that agricultural products
lie equally protected with manufactured
articles; that foreign immigration he re-
stricted 50 Ms to keep ont all paupcrs aud
criminals, and that United States Senators
he elected by vote of the people.
Also petitions for the protection of wool
and woOlcn goods.
Mr.. Allison introduced bill appropH-
a,ing $4,000 to dcfray the funeral expenses
Of the late Chief Justice of the Supreme
Court. Passed
Mr. Hale offered tby roquest) two resolu-
tions in relation to establishing systems Of
underground wires for telegraph and telc-
phone service between the several govern
ment departments in Washington and for
the use Of the district authorities, requiring
reports on the subject to he made on Or be-
fore 10th April. Adopted.
Mr. Harris, from the committee on cpl
demic diseases, reported the bill to protect
the quarantine service of the United States.
Calendar.
Mr. Cullom, from the committee on terri
tories, reported unanimously the resolu
tiUns declaring II to he the sense of the
Senate that new states should be admitted
into the Union only on the basis of equality
with the existing states, and that Congress
ought not to exercise any supervision over
Tie provisions of the constitution Of any
such new state further than Is necessary to
guarantee to each state republican form
OF governments: that the proposed cOnstitu-
tion for the state of Utah, submitted to
Congress, contains provisions which would
deprive such proposed state (if ADMITTEDLY OF
that equality which should exist among the
different states, and that IL Is the sense of
the Senate that the territory Of Utah ought
not TO he admitted into the Union as u state
until IL is certain, beyond doubt, that the
practice of plural marriages, bigamy, or
polygamy, has been entirely abandoned by
ilc inhabitants Of that territory, and until
II is likewise certain that the civil affairs OF
the territory are not controlled by the priest
hood Of the Mormon Church. lie asked for
the immediate consideration of the resOlll-
tiCn.
Mr.. 1TOar. The resolutions are very i'm
pUrtant. Let them be printed and go over.
II was so ordered
Mr.. CulOm also reported back the Utah
memorial and draft OF the constitution. and
asked that the committee he discharged
iiom their further consideration. So or
dercd.
The resolution offered by Mr. Riddle
berger last Thursday to suspend the rules
for executive session in respect to the fish
cries treaty was taken up, and Mr. Riddle
lerger expressed the hope that the Senate
would agree TO II.
Mr. Sherman said that the treaty was now
under consideration by the committee on
foreign relations, and that that committee
might probably report in favor of public
consideration Of the subject in the Senate
but, for the present, he thought It better
that the resolution should lie over, un.
acted on The senator from Virginia would
undoubtedly have ample notice, so that he
could ask vote on his resolution before
the treaty would he considered.
Mr.. Gray thought the suggestion of the
nt.A.f "a a mr. M Hal u
was not opposed to the resolution, but ex-
pectcd TO vote for it. So far as he under
stood the sentiment of senators on his side
of the chamber, they were in favor of the
consideration of the fisheries treaty in open
session.
Mr.. Riddleberger consented that the re-
solution should lie over.
The Senate then, on motion of Mr.. Morrill,,
proceeded to the consideration of House bill
TO provide for the purchase of United States
bonds by the Secretary Of the Treasury.
Mr.. Plumb offered an amendment in the
form of new section, requiring the Secre-
tary of the Treasury (whenever the circula-
tion of national bank Is surrcndcrcd) to
issue treasury notes to an equal amount.
Mr. Morrill, expressed the hope that the
amendment would not be passed. 1t was,
he said, entirely alien to the bill, aud ii
would require weeks Of discussion and con
sidcratiOn.
Mr. Plumb declined to Withdraw his
amendment. lie said that while the bill
was proper one it was, as 1t stood, trfing
with a very great question. The bank note
circulation was shrinking at the rate of
O,0Q0 900 year, and under the proposed
hill would shrink $50, 100000 n year. lie
asked the chairman Of the committee on
finance whether that committee had in view
any remedy for tnat state of affairs.
Mr.. Morrill, replied that the committee on
finance had several bis on the subject
under consideration. but they were not fully
completed.
Mi. Plumb declared that if the eommiTe,
on finance did not complete some meas'lr,
on the subject the Senate would have to dc
il. II the Senate did not, and If the Hous
did not, then lie warned the Senate that TN
country was over crater of financial Ills
tnrbance. lie thought ii was there now
The Senate was dealing with a questio,
which had more to do with the welfare o
the people than any other measure pendin,
in either hcAse. For every dollar of shrink
age in cursncy there was shrinkage il
property The amendment would not adj
to HE Nalume of the currency, but woul,
prevent its further contraction. 1t was
therefore, Il conservative measure.
Mr.. Morrill, said that he did not know tina
he had any hostility to the proposed amend
ment, hut it seemed to him that IL was NOR
important that the Senate should act upon
measure which came to 1t from the llOus
various amendments.
Mr.. Beck said that the bill was one whic
had come from the House having singl
purpose in view, and that was to remove
doubt expressed by the President as to hi
power (under the act of 1881 to purchas
bonds. He had no doubt himself about Il
But he believed the bill ought to pass and {
pass now, unencumbered by any ament
mCEt.
He reminded the senator from Kansn
that there were two bills on the calends
tone reported by Mr.. Sherman and the othe
by Mr.. Aldrich) which would accomplis
his purpose. The amendment proposed b
the senator from Kansas would provoke
long discussion in the Senate and a Ion
discussion in the House, and he therefor
thought that good policy required the pa
sage of the bill as reported from the con
mittee on finance.
Mr. Farwell expressed the hope that II
amendment would be made to the bill I'll
only one which he could suggest would !
To make the act mandatory instead Of di
cretonary. The amount of money in I'll
treasury to-day was a menace to the bus
ness of the country. Last fall the rates o
money had increased very largely on accoui
of the large accumulation of money IN I'll
treasury.
Under the existing law the Secretary {
the Treasury (wisely, in his iudgment) ha
gone into the market and bought abol
S27,000,000 of government bonds, thus pu
ting in the hands of the people an equiv
lent amount of the circulating medium
Later on (unwisely he thought) the autho
ity for that action had been questioned !
The President and the next thing done VI
(very wisely, in his judgmenD TO deposit
the national banks SG0,0O0,OOO. This b
(he thought) ought not TO be amended G
Cept to make It mandatory
When the hour of 2 O'Clock arrived u
presiding officer presented the special orde
being the bill for the establishment of a b