St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-02-09
THE NATIONS FINANCES.
80ND ISSUE QUESTION B0BS UP IN
THE SENATE.
CARLIsLE's POWER DISCUSSED.
Senator Teller Wants to Know
What Congress Will Do With
the Deficiency Question =
Credit Of the Country Threat
ened - Another Bond Issue
Would Be a Failure.

WASHINGTON, Feb. SIN the senate
today Senator Perkins (Cal.) presented
memorials of the San Francisco cham
Der OF commerce, praying for the an
neXation of Hawaii, the laying of
cable from the United States to Hawaii,
and for the completion of the Nicaragua
canal under government control.
Senator Wolcott, (Col.) presented a
resolution providing for the submission
OF constitutional amendment prohibit
ing the states from denying suffrage TO
any person on account of sex.
"A memorial of the wool growers
against the Wilson bill was presented
by Senator Sherman, who stated the
hnance committee had refused the wool
growers hearing and requested that
the memorial be printed. 1t was so
ordered.
Senator Wolcott presented, without
reading. several mendments to the
Wilson tariff bill.
Resolutions of the Ord er of Railway
Conductors, the Brotherhood of Loco
inutlve Engineers, the Brotherhood Of
hallway Iralnntn and the Switchmen'S
Mutual Aid association and the Amer
lean Railway union protesting against
the rulings of United States courts on
the question of strikers, were presented
by Senator Voorhees, and ordered to be
printed for the use of the senate.
A letter from the secretary of the
treasury was laid before the senate in
reply to the resolution of Senator PETER,
adopted some days ago, calling for the
names of bond bidders, amounts of
bonds issued and rates of interest.
On motion of Senator Voorhees, it was
ordered that when the senate adjourn
today it be until Monday next. The
resolution of Senator Stewart
DENYING THE RIGHT
OF the secretary of the treasury to issue
the United States bonds and question
ing their validity came uV as the regu-
Lar order, with various pending amend
mentS
Senator Butler said the legal ques-.
ltions involved in the resolution and
amendments were OF such Importance
that he believed the resolution should
20 to the judiciary COMMITTEES. Senator
Stewart. after some coIloquy, accepted
the amendment heretofore proposed lJy
Senator Dubois adding to the resolution
adeclaration Of the senate that .there
Is no present necessity for the sale OF
bonds for any purpose specified under
the resumption act"
The point was made by Senator Nor
rili that the effect OF the adoption of
such resolution would be to deny the
power of the secretary to reissue the
United States notes that are returned to
him in the course of treasury business.
Senator Quay opposed the reference of
the resolution to the judiciary commit
tee. 1.-The senators from South Carolina
Butlerf and Ohio (ShermanD we'll
KNEW" said he, that to refer it that
committee means simply to give it a
decent burial.
That result will go out to the world
as a justification as 10 what the senator
from Ohio knows to be an illegal act.'
Senator Teller said the recent pur-
chase of United States bonds was
forced" purchase. The secretary of
the treasury had in New York stated to
Athe bankers that if these bonds were
not foated there would be panic-a
greater panic than the one of last fall,
an d it was
TO AVOID THAT PANIC
that they reluctantly purchased the
bonds. I'm not peaking as pa.tisan
or as silver man," said Senator Teller
but want to know what the American
congress is going to do with the cues
ton of deficiency. Everybody knows
from the experience OF the secretary of
the treasury that no more per cent
bonds on per cent basis can be sold.
1t is morally Ger ain that If another fifty
million were offered it would be fail
ure. We are face to face with the oues-
tlen of whether there is to be a contin-
ued deficiency or whether there is to be
some effort to meet this deficiency by
some sound system of finance. The
credit of the country is threatened, and
the men who have been loudest in de-