The times. [volume] (Richmond, Va.) 1890-1903, 1893-02-14
RICHMOND. VA. TUESDAY FEBRUARY H. 1888

| OF the bill. The bill provides that per
cent. bonds Of the company TO an amount
not exceeding l00.0O0OO0 shall be guar
antecd principal and interest by the
| Government Of the United States these
| bonds TO be issued according as money
is actually paid out and expended
by the company in the construction of the
canal. The Government is then to own
the capital stock OF the company, with
the exception OF 900 OF it, which
is to be retained by the company. and
except the shares TO be delivered 10 the
governments Of Nicaragua and Costa
Rica. The importance of this guarantee
by the Government was demonstrated in
"A speech by Mr.. Frye (Rep., Me.), who
undertook to show that the work would
with the gu2rantee) be fully completed
at a cost OF 500, 10000, ard that its fixed
charges would be only S5,000,000 "a year
(Outside of a sinking fund.-. whereas, with
out the guarantee, the cost would be not
less than 500. 900, and its fixed charges
sl4 900,0 0J0 year.
Mr. Morgan discussed the diplomatic
features of the measure, and said that
not one vote which the Senate could give
would have so much influence on the des-
TIMES Of the Pacific States as an afiirma-
tive vote In favor Of the pending bill.
The nations Of the earth would ascertain
from that vote that the Americans were
united people; that they were pro-
American in every scnse OF the word,
that they comprehcnded the magnitude
and majesty OF their destinies. and that
there was one Uniform accord tlat Anne
rican institutions were to be under the
benign prOtecTion of the American people.
lie appealed TO the Senate of the United
States, which had heard the matter dis
subject and vote upon 1t after a reason
able time had been given for debate. Let
us DO our duty. said he, to this genera
tion of men, and not postpone action un-
III some future generation wiser or bet
ter or stronger than we shall come up
and execute this work.
Mr. Stewart inquired in what kind OF
money the bonds were TO be made paya-
BILE
"Oh, silver, Of course" said Mr.. Nor
gan, ironically.
Then / will have to offer an amendment
TO that effect. Mr.. Stewart rejoined with
a laugh.
II the Senator does so, said Mr. Nor
gan, will have to vote against him, and
he will lose one Of his friends
Mr.. Carey asked Mr.. Morgan whether
there was any treaty existing between the
United States Government and the gov
ernment any other country excepting
Nicaragua. which would forbid the Gov
ernment Gf the company failed to build
the canal 70 construct and operate the
canal itself.
Mr. Morgan replied in the negative, and
referred TO the Clayton BulWer treaty.
M Carey. But you hold that that treaty
is obsolete
Mr.. Teller: / will ask the senator from
Alabama the question directly. DO you
think that there is anything in the Clay
ton Bulwer treaty that would prevent us
from building this canal?
Mr.. Morgan: There is not now and
never was.
Mr.. Teller: ! agree with you entirely.
After some further discussion the bill
went over until tomorrow
Mr.. Allison reported from the Commit
tee on Appropriations the Sundry Civil
BILL and gave notice that
at the earliest practicable moment, GER
tainly not later than Immediately after
the morning business on wednesday, he
would ask the Senate 10 consider II. The |
Senate went into executive session, and, |
At $40, adjourned until tomorrow at noon. |
House of Representatives.
The session of the House to-day was |
devoted entirely to local bills called up !
by the Committee on the District Of Co |
umbia.