The state chronicle. [volume] (Raleigh, N.C.) 1891-1893, 1893-02-19
NATIONAL CONGRESS TO-DAY.z
Adopts Nr. Shermans. TO Authorize
the Issue OF Three Per Cent. Bonds.
Short Session of Both Houses.

WAsHINGToN, Feb. 1s-The senate
was called to order at the usual hour
Mr.. Pugh moved 70 amend Mr.. Sher-
mans amendment by adding to it the
proviso that none of the bonds should be
issued and sold until the amount of the
''coin redemption fund" should be re
duced to $4,000 by actual redemption
of treasury notes, and that no greater
amount should be sold than would be
necessary TO keep the redemption fund
equal TO $50, 000. 600 in coin He said
that his amendment embodied a policy
| for which the late Senator Beck, OF Ken
lucky, had always contended.
Mr.. Pugh's amendment was rejected
| yeas 21, nays 81.
Mr.. Vance moved to amend Mr.. Sher-
mans amendment by adding TO II The
proviso repeating the tax on state bank
circulation.
Mr. German moved to lay Mr. Nance's
motion on the table; agreed to-40 TO 16-
Mr. Brice offered AN amendment re
quiring all issues of United States notes
issued and circulated as currency u he
maintained at parity and interchangeable
at their nominal par.
|
he no obi jection to the amendment, but
he believed that that was now (under
act of 1890 commonly called the Sher
man acD the law of the land. In the
act was declaration Of public
policy that all forms of money in the
country shall be maintained at parity
He believed thst his colleagues amend
ment WAS substantially that declaration,
and ne would vote for it with great
pleasure.
Mr. Teller-Do yon include silver GER
tificstes2
Mr. Shermsn-silver certificstes, gold
certificates, treasury notes and all paper
money issued by the government.
Mr.. Teller-Then it is proposed now
that in addition to the $3i6. 900, 900 oi
greenbacks that are payable in gold, and
In addition TO the $3.50. 900 600 Of treas
ury notes, 1927, 900 900 of silver certiti
. Gates are tC be included, it seems to m,
that that legislation will eventuate in
placing very great burden upon tn,
treasury department. These silver Ger
, tificates are now circulating as money
and are not redeemable 10y law or il
o practice) in gold, and L do not see an,
necessity for redeemlng them in gold.
4 Mr.. Vance said Mr.. Brice's amendmen
= could only, it seemed to him, be mad
= in the interest of embarrassing the treas
ury because, if it was found difficult I
maintain sufficient gold in the treasur
to redeem $346, 900 000 of greenback'
that difficulty would be mucn increase
by requiring also the redemptin
! of four or five hundred million
. of silver certificates The question b'
came then one too appalling 10 conten
r plate.
. The debate was interrupted at Ais |
!, m., by short executive session, an
70 when the doors were re-opened the d.
, bate was resumed
- Mr. Brice's amendment was withdraw
A. The discussion finally closed, and
70 vote being taken on the Sherman amen'
is ment it was agreed to-yeas 30, nays i
- No further action was taken on II
, sundry civil appropriation bill, bu. NJ
> Allison gave notice that he would a.
the senate to remsin in session MOndi
~, until the bill was passed.
"a TIE senate then, at 6 p. m, adjourne