Los Angeles herald., 1892-12-07
IN THE HOUSE AND SENATE
Reading of the Presidents
Message.
Little Attention Paid to the
Document.
Int eresting Bills and Resolutions
Introduced.
The Financial Policy OF the Peoples
Party Embodied in a Bill Intro
duced by Representative
Otis of Kansas.

| By the Associated Press.
| WASHINGTON, Dec. 6.-The house met
at noon today. The chaplain in his
prayer feelingly alluded TO the presi-
dents late bereavement.
Mr.. Rayner introduced bill for the
better protection of commerce and to
establish national quarantine. Re.
| ferred.
Harter of Ohio introduced a bill PRO-
viding for the cessation OF silver bullion
purchases January 4, 1893, and the sale
of 1000, 900 ounces of silver bullion for
gold.
THE PoPULIsTs' FINANCIAL POLICY.
The financial theories of the third
party were emphasized in a bill intro.
duced by Otis OF Kansas, having a
voluminous title, to change our monetary
system, reduce interest, fix the unit Of
value, supply the states with a circu-
lating medium and for other purposes.
The bill is amendatory to one intro
duced at the last session. 1t
fixes the dollar as the unit of
value, and declares that all pa
per money mentioned in the act, as
absolute upon its face, and not in the
form Of promise. All money specified
shall be full legal tender to the amount
OF $5 in any one transaction. In addi-
'tion to the provisions for free coinage in
the previous bill, the measure provides
that money paid for bullion in the treas
ury be covered into the treasury as part
of the general fund. Immediately upon
the passage OF this act. the secretary of
the treasury is required to have coined
all the gold and silver bullion in the
hands of the general government,
for any purpose, and to have prepared
at as early date as possible 81 500 ,000G00
OF paper money to be used to form q
general reserve. The secretary of the
treasury is directed to prepare an
amount OF paper money, not to exceed
in volume 80 per cent of the assessed
value of the real estate OF the United
States, as shown in the last census, to
be held in the general treasury
as a states improvement fund.
and only to be paid out on
the order of the respective govynrUsa
and secretaries OF states. Any state
may avail itself of the provision OF this
act by joint resolution of the legisla-
ture, and the state is required to pay
bJc Oulleu CtdGeS du duuual LAX OF L per
cent on all sums drawn and retained
during each year, and to open and keep
in operation an exchange and general
deposit department at the capital of the
state.
READING OF THE PRESIDENTS MESSAGE.
A messenger from the White House
then appeared with the presidents mes
sage, which the clerk at once began to
read.
The reading OF the message met with
little attention. Many members left
the hall, preferring to study the recon-
mendations of the president at their
leisure at home. Those who remained
entered into conversation or devoted
themselves to the perusal of newspapers.
At the conclusion of the reading OF
the message it was referred to the COM
mittee of the whole.
The death of Representative War
wick of Ohio was announced, and as
mark of respect the house adjourned.
JOHN I. DAVENPORT sNUBBED.
At meeting OF the house committee
investigating the administration of the
federal election law in New York city,
it was decided to take no notice what
ever of the petition submitted to the
house yesterday en- behalf OF John l.
Davenport in which the latter asks
hearing at the bar of the house.