The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1892-12-15
FIFTY-SECoND CONGRESS.
THE ANrI-0PTI0N BILL STILL BEFORE
THE SENATE.
Measures Affecting the Indian Territory.
Hot Fight for Honors Between Leading
Committees Government Finances
to Be Thoroughly Investigated.
sENAT'

WASHINGTON, Dec SIN the sen-
ate Joint resolutions the appoint
ment of a commission to make an
agreement with the five civilized
Indian trib9s for allotment OF their
lands in sey ,ralty and for opening the
Indian Ter ;ory to settlement was
discussed uring the morning hour
and then )ent over, without action,
till tomorrow. Its reference to the
committee on Indian affairs was advo-
Gated by Senator Jones of Arkansas
and Senator Platt of Tennessee, the
latter senator taking a rather ad-
vanced position in favor of putting an
end to the existing condition of things
in the Indian Territory by the estab-
lishment of regular territorial rule
there.
After that matter was laid aside the
anti-option bill was taken up and the
rest of the session was occupied by
Senator George Mississippi in ad-
vocacy of that Ill.
Senator George said there had been
much discussion on the subject since
last session and efforts made IN var
ious cotton markets of the country to
depress the price of cotton based on
the fact that the bill was pending. 1t
was alleged on the part of cotton ex-
changes that the passage OF the Dill
suppressing speculation In futures
would be disastrous to the farmers in
Alabama and other Southern states
as we'll as farmers OF
the West were so benighted "
that they with almost one voice de-
manded the enactment of the measure
to prevent dealing in futures. Cotton
growers were every year becoming
poorer and poorer and becoming the
victims of the rapacious policy whicn
had taken their earnings and aoded
an amount to overgrown wealth OF
men who used their powers for that
purpose. There were, he said, but
five cotton markets in the world, new
York, New Orleans, Liverpool, Havre
and Bremen, but the New York
cotton exchange which exercised
such strong influence on
prices had less actual dealings
in cotton than seven or eight other
sea ports in the United States. Last
year only $50, 900 bales had been re-
ceived in New York as against 3,OO0,-
900 bales in New Orleans, 100000 in
Galveston, 100000 in Savannah,
500 900 in Charleston and about the
same in Norfolk. Senator George
went on to quote from the rules and
regulations of the New York cotton
exchange. q chartered institution, in
order to show that quotations were not
fixed according to actual trading In
the market, but the price OF mid
dling'' being ascertained, relative
prices of all other grades, thirty in
number, were fixed by sliding scale
established by a revision committee
which met only once month; that
quotations for spot sales were more
where no sales were made. and so also
as to sales for future delivery. In
other words, prices were fixed in the
New York cotton exchange without
reference to ty ,nsactions, and New
York, he said do. linated and con-
trolled every cotton market, not oniy y
in the United States but sometimes In
the world.
Who, he asked, had given the New
York Cotton Exc .snge authority to
fix prices for the cotton of Mississippi,
Arkansas and other states? They
had no such authority and their ac-
Cion was but impatient usurpation.
As to the New Orleans and New York
Cotton Exchanges, heir members
were composed, he said, of factors,
bankers, brokers' and steamboat own
ers. but not actual planters, except IN
cases where they carried on other
business, residing in New Orleans,
New York, Galveston and Memphis
and owning cotton plantations, some
of them as many as thirty.
Without finishing his argument the
senate went into executive session
and soon afterwards adjourned.
Among the bills introduced and re-
ferred were the following:
Ry Senator Gallinger-For suspen-
sion of immigration under certain cir
cumstances.
Rv Senator Peffer-To facilitate pro-
motion in the navy.
Rv Senator Mitchell-To provide for
an annual encampment OF mllltla al
the Worlds Columbian 1alr'
By Senator Collum-To amend the
Interstate commerce law.
By Senator Vest-To extend the
Jurisdiction of courts IL Oklahoma
Torritory and of the United states
ceurt in the Indian Territory.
HOUSE.
WASHINGTON, Dec. 13.-The house
opened today with contest between
the ways and means and appropria-
tions committees, but it was brief and
decisive and resulted in a victory for
the former committee. For some
time there has been a little rivalry
between these two great committees,
and when the matter of ascertaining
the financial condition of the treasury
Swas under operation the Mckinley
law became pertinent question. I'M
mediately after election the rivalry
was accentuated by dispute as to
which committee should introduce
resolution assigning this duty to a
committee of which he was member,
and a few days later Mr.. Wilson
Of the ways and means committee