The herald., 1893-08-30
THE WILSON REPEAL BILL
Reported Back by the Senate
Finance Committee.
The Voorhees, Bill Offered as a
Substitute for 1t.
1t Is to Replace the National Bank
Bill on the Calendar.
Hill Votes with the Silver Men in the
6cnate-Toller Makes an Ad-
drcss-Crisp and Reed Hsvo ~
Tilt in the House.

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6enste-Tcller Makes an Adj
drcss-Crisp and Reed Have
Tilt in tho House.
By the Associated Press.
WASHINGTON, Aug. 29.-The senate
committee on finance this morning de-
cided to report back the Wilson bill
with the recommendation that the
Voorhees, bill be substituted, and to set
aside the national bank circulation bill.
now unfinished business. in fovor of the
Voorhees, bill, and to presB the latter as
rapidly as possible.
The setting aside Of the national bank
bill will require amajority Of the votes
Of the senate. The silver men say they
are indifferent as to which is considered
first. both being alike Objectionable.
They declare they will fight repeal with
all the force at their command.
THE WILSON BILL REPORTED BACK.
When the senate met. Voorhees,,
chairman Of the finance committee re-
ported back the house bill repeating
part of the Sherman act, with an
amendment in the nature Of . substi-
tute. He asked that the bill be placed
on the calendar and gave notice that ne
should ask the senate to take 1t up and
consider it Immediately after the morn
ing business from this time on until
final action should be taken. The sub
stitute, he said, was exactly the bill
heretofore reparted from the finance
committee.
On objection Of Teller, it went over
till tomorrow.
Harris, q member of the finance COM
mittee, said the substitute just reported
was the majority report in which the
minority Of the committee did not con-
cur.
STEWARDS RESOLUTION.
The resolution offered yesterday by
Stewart was then laid before the senats.
It directs the secretary of the treasury
to inform the senate whether there is
danger of deficiency in the revenues Of
the government during the current fis-
cal year; and II 70, what is the probable
amount Of such deficiency and Mhethar
llARisleti0p in nanAsaArv ~ supply uuCn
The resolution gave rise to long dis
cussion. Senators Sherman, Voorhees,,
Mills, Mcpherson and Harris opposed
the resolution as calling for problemat-
ical statements, az calculated to create
needless alarm, or as rejecting on the
secretary OF the treasury.
| A motion to refer the resolution to the
finance committee was made BY. Vo0r-
bees, and opposed by Hill and Stewart.
Hill declared he could see no danger
to the country from the adoption Of the
resolution.
Stewart. who also defended it, de-
clared there was rumor that there was
deficiency In the revenues; that the
treasury had difficulty In paying current
expenses and the gold reserve was being
paid out thereon. After some further
debate the resolution was finally re-
ferred to the committee by vote OF 40
to IA. The aenRtors voting nay were !:
Allen, Call, Dubois, Hansbrough, Hill,
lrby. Jones of Nevada. Lindaay, PETER.
Power, Shoup, Stewart. Teller, White of
California and Walcott
A BILL TO ENFoRCE THE EXCLUSION ACT.
Dolph introduced a bill, which was
referred to thescommittee on foreign re-
lations, appropriating $500, ,0CO to enable
the secretary 0f-the treasury to enforce
the Chinese exclusion act, and said he
would seek an opportunity of address,
ing the senate on the subject. As
Gordon addressed the senate in favor
nf the unconditional repeal Of the pur-
chasing clause of the Sherman act and
against the substitute. Gordon, in the
concluding portion Of his speech, advo-
Gated the repeal Of the 10 per cent tax
on state banks. sf
TELLER ADDRESSES THE SENATE.
Teller addressed the senate in argu-
ment to prove that the Sherman law was
not responsible for the financial troubles
of the country. Almost without excep-
tion, he said, every one who addressed
the senate had spoken as If there was
some great calamity impending over the
people OF the United States. He wanted
to enter his protest against the s'calam-
ity howlerH. There was disturbed
financial condition OF an unusual char
acter, and 1t seemed to him the first
thing to do would be to inquire what
brought It about, and yet during three
weeks session he had not heard any,
body suggest an intelligent reason for
the present financial condition, No
body had analysed the question as to
Wnotner tne cause was or was not the
Sherman act. He challenged any sen.
ator to tell and to tell the American
people. He believed the people
had brought about the panic Be-
cause they were afraid of their
money. There had been taken
from the banks OF the United
States since early last spring at least
$3.50, ,000. 900 by men who are dissatisfied
with the present condition Of things.
They had taken out their money and
had put 1t away. but they had not de-
manded gold. They took whatever cur
rency they could get. He was in the
city Of Denver when four national banks
there Call solvent) failed. He had gone
on the street where the crowd gathered
and asked the people what tho trouble
was, and he was told 1--WE do not know
what the trouble is. We have been told
there is to be great financial disturb
ance In the country. We do not know
whether the banks will 30 able to pay
us our money when we want it, and We
think It IL safest to get it now.'
Those prognoatications of coming evil,
Teller said, had emanated from the New