Evening star. [volume] (Washington, D.C.) 1854-1972, 1892-07-11
TALK ON OPTIONS.
Mr.. Washburn Addresses the Senate
on the Pending Bill.
LEAVES FOR EI-UNION SOLDIERS,
Senator Hiscock's Joint Resolution
as to the G. A. R. Encampment.
THE MILITARY ACADEMY BILL

THE MILITARY ACADEMY BILL
The Conference Report Finally
Agreed to by the House.
THE SENATE.
Mr.. Mcpherson asked and obtained leave of
absence for the remainder of the session.
Mr.. German was appointed on the committee
| OF contingent expenses instead Of Mr.. Vance,
absent on account of sickness.
ONE PRESIDENTIAL TERN.
Mr.. PETER introduced a joint resolution pro-
posing an amendment to the Constitution in
these words, ''No person shall hold the Office OF
President of the United States more than one
term" and asked that it lie on the table.
Mr.. Plat remarked that, as he remembered,
\ a similar joint resolution had been already in
| troduced and referred to the committee on
| civil service reform and had been reported back
by that committee and placed on the calendar
MIR. Wolcott, chairman Of the civil service
committee, corroborated that statement, and
| added that the probabilities we're that that
joint resolution proposing a single term of six
=
| at which time he had doubt extended re-
| marks would be made ard very many amend
| ments proposed.
| Mr.. Chandler intimated that he would offer
an amendment to it reducing the term to two
| years.
Mr.. PETERS joint resolution was laid on the
| table.
TO PROVIDE AGAINST AN EPIDEMIC.
Mr.. Chandler gave notice of his intention to
offer to the sundry civil appropriation bill an
amendment appropriating $3.50, 900 to meet any
extraordinary emergency that may arise be-
tween the adjournment of Congress
and its next meeting in December in con-
nection with epidemic diseases.
SOLDIERS IN THE DEPARTMENT..
Mr.. Hiscock introduced q joint resolution
| (Which was referred to the committee on civil
service reform) providing for leave Of absence
for every federal soldieri in government employ
ment during the Grand Army encampment
next September.
THE HOMESTEAD EMPLOYEES STATEMENT
Mr.. Quay Gin compliance with the agreement
made last Friday presented the statement of
the Homestead employees for publication in the
Congressional Record.
THE REVENUE MARINES TRAINER.
Mr.. Butler according to the notice hereto
fore given by him) moved that the Senate take
up for consideration the bill to transfer the
revenue marine service to the Navy Department.
Mr.. Sherman demanded the yeas and nays.
The motion was agreed to, and the bill was
laid before the Senate-yeas, IS; nays, "a
THE sUNDRY CIVIL BILL.
Mr.. Allison moved that the revenue marine
bill be laid aside and the consideration Of the
sundry civil appropriation bill be resumed.
Mr.. Butler expressed his willingness to weld
| to apDrOpriati0n hills providod his Hill
tanned its right Of precedence. He suggested
therefore that it be ''laid aside informally. y
| Otherwise he was opposed to Mr.. Allison't
motion, which would displace his bill.
After some discussion the revenue marine
bill was "laid aside informally"
Mr.. Allison withheld his motion so as to give
| Mr.. Washburn an opportunity to submit some
| remarks on the House bill defining options and
futures, imposing special taxes on dealers
| therein and requiring such dealers and persons
engaged in selling certain products to obtain
| license.
| MR.. wAsHBURN ON OPTIONS.
Mr.. Washburn said that he had, in the early
days Of the session, introduced q bill having
fog its purpose and intent the Quitting an end
to the system OF dealing in options or selling
futures. or Gin common parlsnce) "short sell.
ing" That bill had been drawn on the lines OF
the so-called Butterworth bill.
| That bill was the subject of very extensive
/
criticisms) afterward introduced another bill
with the same object, and which met the situa-
ton more completely and satisfactorily. The
bill passed by the House was, substantially. the
same in principle and in methods of dealing
with the question as the last bill introduced
by him, and would accomplish with some
amendments which he would propose)
what its friends desired without interfering
| with the commerce of the country Profess
sional gamblers had sought to produce false i'm
Pressions about it and bankers and merchants
| had been unnecessarily alarmed about the effect
| which it would have on the commerce of the
| country.
1t was not its purpose to (nor did IT'D inter-
| fere In any manner whatever with the purchase
or sale Of any product where the seller was
contract for its Ownership. 1t was neither
sought TO-, nor did it, interfere
with the freedom of conscience, but it left Iegt-
innate trade without interference or hindrance:
but 1t was directed against that gigantic mod
ern invention known as 'short selling of the
| agricultural products of the country
This was q system under which, by misre pre-
sentation, tricks Of trade and fraud. it was pos
sible to juggle with values and practically elm
| mate from the commerce Of the country
the operation Of the law of supply
and demands system which robbed the
parasite. The bill was aimed ut a system of
gambling Of the most outrageous, insidious and
| pernicious character and which brought the
most widespread and disastrous results Of any
| scheme of gambling which the wit and faculties
OF man had ever yet been able to devise.
THE HOUSE.
On motion Of Mr.. Dalzell (Pa.) a bill was
passed authorizing the sale Of certain public
property in Pittsburg, Pa.
On motion Of Mr.. Bullock (Fla.) a bill was
passed extending the provisions of the act for
the immediate transportation Of dutiable goods
| to the port Of Fernandina, Fla.
The Speaker appointed Messrs. Herbert, Law
| son (va) and Deliver a. conferees on the naval
appropriation bill.
Mr.. Wheeler Gala. submitted the conference
report on the Military Academy appropriation
bill
THE BILL PASSED.
There was q good deal Of opposition made to
the report-the point Of attack being the appro-
priation for Q new gas plant-but the report
was agreed to. Yeas, lie; nays, 96.
On motion Of Mr.. Bentley On. Y.) the bill
was passed appropriating e250, 900 for the pub
| LEGATION Of the eleventh census.
The floor was then accorded to the committee
| on the District Of Columbia.