The herald., 1894-02-03
CARLISLE'S NEW BOND ISSUE,
The Subject Again Debated in
the Senate.
PETERS Resolution Asking for In
formation Adopted.
The Discussion on Stewards Resolution
Wakes notwithstanding Remarks
Made by Sherman, Hoar
and Others.

WASHINGTON. Feb. 2.-The day in the
senate was not an eventful one. After an
hours debate, the resolution by PETER
was adopted, calling upon the secretary
of the treasury for the names of the
persons and corporations bidding for
United States bonds, and the amount of
bids and the rate of interest. The
original resolution of Stewart, denying
the authority of the secretary of the
treasury to issue bonds, was then taken
up and consumed the remainder of the
day. Villas making the principal argu-
ment in opposition to the resolution.
Quay presented an amendment en-
bodying several new sections of the
tariff bill. They provide for free coin
age of silver and for the purchase of
145. l25 ounces of fine gold monthly, and
the issue of treasury notes in payment
therefor; and the repeal of all existing
laws for the issue of bonds.
PETERS resolution, calling on the sec
rotary of the treasury to inform the
senate how many bids were received for
bonds and from whom, came up then
for consideration.
After some discussion, in which Sher-
man argued that it was unusual and
not good public policy to inquire into
the personnel OF the purchasers of
bonds, and after replying that he did
not believe the financial affairs OF the
government were managed by the gov
eminent officers, but by spectators in
New York. Sherman withdrew his OPP
position and the resolution was adopted.
The resolution Of Stewart, denying
the authority of the secretary of the
treasury to issue United States bonds.
came up with various amendments, pro-
viding that "money derived from the sale
of such bonds cannot be lawfully APP
piled for any other purpose than re-
demption." To this Villas presented
the followidg amendment: Except in
accordance with such acts OF appropri-
alton by congress as may require the
use of the same to discharge such ap-
preparations"
Speaking on the Stewart resolution,
Villas complained that its introduction
had been delayed until the last hour,
when it came as a blow at the public
credit. He argued that the resumption
act not only required the secretary OF
the treasury to be ready in the first in
stance to redeem greenbacks, but there
after always ready to redeem them. The
redeemability and convertibility OF
greenbscks was to be ever continuing
and never ceasing.
At 4:l5 the clerk OF the house ap-
peared with the tariff bill, and Villas
suspended his remarks unsil it was duly
reported to the senate. By request of
Voorhees, it was laid before the senate
and referred to the finance committee,
with an order that 1000 copies be printed
for the use of the senate.
Hoar followed Villas, and declared
there was nowhere entertained any more
probability that within the next six
months, or within any reasonable time,
there will be any necessity for any more
money in the treasury for the purpose
of redemption than there is that there
will be war with the Australian posses
sions of Great Britain. ut is well
known" said he, "that if any money is
gained from the sale of bonds, it is the
purpose to put it in the treasury with
one hand and take it out with the other
to pay current expenses. The secretary
is not borrowing it for the purpose of
redemption, and that proposition is too
ridiculous for discussion"
The resolution. on request of Teller,
went over until Wednesday, and the
senate adjourned until Monday.