The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1892-02-11
can be remedied by legislation). 1t
was referred to the committee on agri-

was referred TO the committee on agri-
culture.
The joint resolution for the payment
to the state of West Virginia of her
proportion of the direct tax was taken
up on motion of Mr.. Faulkner.
| Powers of Vermont called up and
the house passed the bill introduced
by Mr.. Hatch of Missouri, placing the
secretary of agriculture in the line of
presidential succession after the secre.
tary of the interior. The house then
resolved itself into committee of the
whole on the military academy ap-
preparation bill.
Mr.. Wheeler of Alabama, in charge
of the bill, briefly explained its pro-
visions, bearing testimony at the same
time to the efforts of the committee on
military affairs to reduce theappropri-
ations as far as consistent with well
being of the academy.
After much debate on the question
of economy the committee rose with
out action on the bill and the house
adiurned.
| LOUISIANA DEMOCRATS.
| WASHINGTON, Feb. 9.-Great anxi-
ETY. is felt among both Democrats and
Republicans over the political situa-
tion in Louisiana. Governor McEn-
ery's proposition that both wings of
the party unite and place new Tick
ct in the field on basis of harmoni-
Gus action is favorably commented
upon by the Democrats here and the
reply of the Foster people is anxiously
awaited. 1t is felt that this generous
action on the part of McEnery will
place the responsibility on Foster and
his followers should they decline and
the defeat of the party follows.
ANTI-oPTIoN PROTESTS.
| WASHINGTON, Feb. 9.-The views
of the New York produce exchange
in regard to the proposed legislation
against the sale of options were pre-
sented to the House committee on ag-
riculture today by Henry b. Neiland
who read the protest of the exchange
against the passage Of the bill. The
protest states that the exchange
heartily approves section | of the
measure, defining options, but the bill
in section 2 proposes to restrict in
trading in futures which is very
different form of trading and which is
included in contracts which are con-
tinually used by all classes of mer-
chants and dealers and bankers
who are dealing in the products
mentioned in section in a perfectly
legitimate way. The remedy pro
posed by the bill for the legitimate
method of trading in futures, woulC
involve the ruin of the entire system
under which the legitimate business
of the various exchanges is prosecuted
Neiland stated that the methods o
puts and calls was purely gambling
and it would be beneficial it the buckle
shop business in some way was abol
ished.
G. w. Ide of the New York cottol
exchange, made an argument agains
the bill.
Vice president Goss of the New
York exchange, also read protest
signed by number of New YOrl
bankers, against the proposed legisla
tion.s
WANTS FREE COINAGE.
WASHINGTON, Feb. AT a meet
ing before the house committee OF
coinage, weights and measures today
Leonard Rhons, of Pennsylvia, repre-
senting the legislative committee o
the national grange, said the Ameri
can farmer asked that silver be re
stored to the position it occupied il
1878. The increased volume of money
| he said, meant enhancement ofprices
He argued at length in favor of th'