The morning call., 1893-02-19
HE CAN ISSUE BONDS.
The Senate at Last Passes the
Sherman Amendment.
Mr.. Stewart Does Not Like 1t, but
Gold Is Still Worth More
Than Silver.
Special TO THE MoRNrNG CALI

WASHINGTON, Feb. 1S.-After the trans
action of routine business in the Senate the
consideration of the sundry civil appropria-
ton bill was resumed. the pending question
being on Mills amendment to Sherman's 8
per cent bond Issue amendment, making said
bonds redeemable at the option OF the Gov
eminent. The amendment was defeated
without division.
The Vice-P President then put the question
on Sherman'S amendment, aud announced
THAI il was agreed u. Stewart objected TO
the manner in which the amendment had
bee-a declared agreed to- and at the sugges-
tioIi of HGar both amendments were con-
sidsred as still Open. Stewart then spoke
more than an hour. denouncing Shermsn's
amendment as the most wicked and revolu-
tionary scheme ever invented by a man
LAYING the rude hand of legislation on the
accumulated precious metals OF the world.
He moved to amend by adding, "And the
bonds issued under tie provisions OF this
act shall not be used as security for the
issuance Of national bank currency"
Palmer advocated the Sherman amend
ment, and at the close OF the discussion
Mills amendment was rejected without
division aud Stewards by vote of 80 to 81.
On motion Of German Vance's amend
ment TO Sherman's amendment adding
thereto provIso repeating the tax on State
bank circulation was tabled.
Bree offered an amendment requiring
that all issues OF United States notes be
maintained at parity and interchangeable
at DOmin al par.
Sherman said that he aequiesced in the
amendment with pleasure. and in response
to an inquiry from Teller Sherman said
that the amendment included silver eeItif-
Gates, gold certificates, treasury notes and
paper money issued by the Government
but called attention TO the fact that bullion
certif ates were not included.
Briee subsequently, modified his amend
ment SO as to make it read: And also TO
maintain at q parity and INTERCHANGEABLE at
nominal par all aud every series of notes of
the United States issued and circulating as
currency. including treasury notes, gold
certificates. silver certificates, currency GER
tifcates and treasury notes of 1890 now or
hereafter outstanding"
Allison said he would vote for Brice's
amendment. Teller opposed it, McPher-
son argued against the Briee amendment,
and Briee said that in reference TO the judg-
ment of his seniors in the Senate he would
/ withdraw the amendment.
The discussion finally closed. and vote
| was taken on the Sherman amendment, and
/ it was agreed to, 80 to 10. The amendment
is as follows:
40 enable the Secretary OF the Treasury
10 provide for and maintain the redemption
Of United States notes according to the pro-
visions of the act OF January II, 1875, en-
titled an act to provide for the resumption
Of specie payment. the sum of $4,000 Is
hereby appropriated. and at the discretion Of
the Secretary he is authorized to issue, sell
and dispose, at rot less than par In coin,
either description of bonds authorized 10
said act. or bonds, notes bearing not TO ex-
coed per cent interest, payable semi
annually and redeemable at the pleasure of
the United States after five years from their
date, with like qualities, privileges and ex-
emptons provided Ia said act for bonds
therein authorized to the extent necessary
to carry said resumption act into full effect
and to use the proceeds thereof for the pur-
poses provided in said act and none other"
Following is the vote in detail
Ayes-Aldrieh, Allison, Briee, Csffery
Chandler. Cullom, Davis. Dixon, FELTON,,
Frye. German. Gray. Hale, Hansbrough,
Harris. Hawley, Higgins, Hiscox. Hoar, Me-
MILAN, Mcpherson. Morrill,, Perkins, Sher-
man. Sawyer, Stockbridge, Villas. Voor-
hees, Washburn and White-30.
Noes-Bate, Call. Cockrell, Coke, George.
Gordon. Jones Of Nevada, Kyle, Mitchell.
PETER. Power. Pugh, SnOup, Stewart, Tel
Ter and Vest-16
No further action was taken on the sundry
civil appropriation bill. but Allison gave
notice that he would ask the Senate TO re-
msiu In session on Monday until the bill
passed.
The Canafa them cottonwood