Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-02-17
A POINT OF ORDER OVERRULED.
Some Interesting Discussion on the
Subject by Senators.
PENSION APPROPRIATION BILL
1t Was Finally Passed by the
House Today.


State to inform the Senate as to reciprocal ar
engagements for wreckins privileges on the
great lakes. Senate joint resolution authoriz-
ing the secretary Of the Smithsonian Institution
to send to the Columbian exposition articles
illustrative Of the life and development OF the
industries OF women was reported and passed.
The consideration Of the sundry civil appro-
priation bill was resumed and the vote was
taken without further discussion on the amend
ment relative to the federal supervision Of cleo
tions. The amendment was agreed to by
strict party vote-yeas. "a; NAYS, "a II strikes
out OF the House bill the words which prohibit
the payment for warrants. arrests or prosccu-
nons under the laws relating to the election Of
members Of Congress.
- The Senate then, at l2:45, on motion Of Mr..
sherman, proceeded to executive business.
After twenty minutes Of seclusion the doors
we're reopened and the consideration Of the
sundry civil appropriation bill was proceeded
with All the amendments which had been
reported from the committee on appropriations
having been disposed of various other amend
ments Of no public importance were reported
from the committee by Mr.. Allison Qowa), its
chairman, and were agreed to. The bill was
then open to general amendment.
Mr.. sHERMAN's BOND AMENDMENT.
Mr.. Sherman (ohio) offered his per cen.
bond issue amendment.
As soon as it was read point Of order was
made By Mr.. Stewart (Nev.) against the amend
ment as general legislation on an appropria-
ton bill"
II have carefully examined the rule . Mr. Sher-
man said, land am quite satisfied that the
point of order is not well taken. The Senator
from Nevada thinks that the amendment
would affect the silver question. How it
does l cannot imagine. The only object
Of the amendment is to enable the Secretary
OF the Treasury, in case OF an emergency, to
issue per cent bond redeemable at the
pleasure Of the United States after
five. years. instead of per cent
bond running for thirty years or
fifteen years. My desire is to give to the in
coming administration all the facilities posi-
BILE to enable it to sustain the public credit and
to sell per cent bonds instead of As or AVS
or So.
Mr.. German Cdd. III the emergency did
arise is il not fact that the authority exists
now for the secretary to issue Is and 4JJSs2
Mr.. Sherman--Un Undoubtedly.
MIR. Gorman-So that the effect of this amend
ment would be simply to save the difference
In interest between per cent bonds and 4 or
AZ per cent bonds?
Mr.. Sherman-Exactly.
Mr.. Cockrell ono. Are not the per cent
bonds commanding now in the market pre-
MUM, making the rate Of interest received
from them less than per cent?
SOME STATEMENTS AS TO BONDS
Mr.. Sherman-It may be SO as to the out
standing bonds, but if new per cent bonds
came to be issued / do not know what the
effect on the market would be. Is the Senator
from Missouri DESTROYS that we should
issue per cent forty-year bond
at rate OF premium? Ny idea is that no gov
eminent bond should be issued running for any
considerable period Of time; and L am per-
fectly willing that the proposed bonds
should be made redeemanle in three
years or at the pleasure Of the government
In England now the consois are worth 90 per
eent-thnt is, that bonds drawing ~ per cent
Interest would command par. 1t may be that
the Secretary Of the Treasury will be able to
sell 21s per cent bond in this country but il
never has been done.
Mr.. Stewart spoke in support of his point of
order and had the rule on the subject read at the
clerk 8 desk. There could be no question, he
said, as to the amendment being not only gen.
eral legislation, but legislation of the most gen.
eral and sweeping character.
Comine to the merits Of the proposition he
argued against it. There was no necessity, he
said. to sell bonds and to buy coin. There was
$500 600 900 Of silver coin and silver bullion
In the treasury and Sl0S, OOO, 900 Of gold. thus
making over 500, 900 900 Of coin or Of what
might be converted into coin.
THE POINT OF ORDER DECIDED.
After discussion Of the point Of order on Mr..
Sherman's amendment Vice President Morton
decided the point. He said that it made an APP
preparation to carry out existing law, limiting
the authority Of the Secretary Of the Treasury
under existing law. 1t did not, in his opinion.
propose new legislation. He therefore held il
to be in order.
An appeal against the ruling was taken by
Mr.. Stewart, and the appeal was, on motion Of
Mr.. Hoar, laid on the table-yeas "a, nays lS-
SO the amendment was decided to be in order