St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-02-03
WHO BOUGHT The BOaDSf
THE SENATE CALLS UPON CARLISLE
F.R THE BIDDERS.
IT'S ONE OF PEFFER,s HOBBIES


Makes a Strong Argument
Against the Stewart ResoIu-
ton on the Bond Question.
WASHINGTON, Feb. 2.-The day in
the senate was not an eVentful one.
After III hours debate early in the ses-
sion the resolution of Senator PETER
was adopted, calling upon the secretary
or the treasury for the names of persons
and corporations bidding for United
States bonds, and the amount Of bids
and the rate OF interest. The original
resolution of Senator Stewart, denying
the authority of the secretary of the
treasury to issue bonds at this time, was
then taken up and consumed the re-
mainder of the day. Senator Villas maxi
ing the principal argument in opposition
to the resolution.
The senate adjourned without action
on the resolution. A joint resolution
authorizing the secretary of the treasury
To provide suitable boxes or cases for
the bronze medals awarded exhibitors
al the Worlds Columbian exhibition
was reported by Senator Villas. and
passed by the senate. Senator Ouay
(Rep., Pa.) presented an amendment
embodying several new sections to the
tariff bill. These sections provide for
the free coinage of silver and for the
purchase of 145, 900 ounces monthly. and
the issue of treasury notes in PAYMENT
therefor, and the repeal of all existing
laws providing for the ssue of bonds.
The resolution of Senator PETER call
ing upon the secretary of the treasury
10 Inform the senate how many bids tor
bonds have been received from persons
and corporations, and the names of the
bidders. then came up for cOnsid eration.
ut has never been the custom" said
Senator Sherman. Ito give the names of
the individuals who
MAKE THE OFFERS.
% do so might be Injurious to the
public credit"
want the names, persisted Senator
PETER. IF it is not proper to give them,
let the senate say So"
what reason exists whereby the
names OF the bidders should not be Civ
en-" inquired Senator Allen, of Ne
brasKa.
I'm the first place. replied Senator
Sherman, because the request has
never been made. The second reason is
that 1t IS not good policy To disclose the
! private affairs and business operations
| OF private citizens
Il have no objection to the names Of
| corporations who have made offers being
called for, although L doubt the expedl-
| ency even OF that"
Senator Harris. of Tennessee, could
| see nc reason why the names of persons
| could be of any interest to the senate.
| The suggestion was made by Senator
| Stewart, of Nevada that the names of
the original purchasers might be very
| Important If the validity of those bonds
| should later be questioned when they
were presented for payment.
In answer to his opponents, Senator
| PETER said ne firmly believed that the
| financial affairs OF the government are
not managed by the government of.
| tcerS, but by spectators in New York
| city.
Senator CockreI declared to Senator
| Stewart thai the time would never
come when the question of refusing to
pay these bonds would be raised.
After further discussion, Senator
Sherman withdrew his motion to strike
| out, and the PETER resolution was
adopted without amendments.
The resolution of Senator Stewart,
DENYING THE AUTHORITY
| of the secretary Of the treasury to issue
| United States bonds at this time came
up in regular order with the various
| p1ONtutifS Eildb the
| money derived from the sale of such
bonds cannot be lawfully applied for
any other purpose than the purpose of
! redemption. 70 this amendment Seua-
| tor Villas presented the following
! amendment:
Except i'll accordance with acts of ap-
| preparation by congress which may re-
! quire the use of the same to discharge
such appropriations"
In speaking on the Stewart resolu-
ton, Senator Villas complained that its
| introduction had been delayed until the
| a;t hour, when 1t came as blow at the
! public credit.
| He argued that the resumption act
not only required the secretary to be
| ready IN the first instance 10 redeem
! greenbackS, but to be thereafter always
ready 10 redeem them. The redeem
ability and the conyertibilIty of the
| greenbackS was to be eYer-coutinuing
and never-ceasing.
Congress may by any act of appro-
priation," said Mr.. Villas, ''direct the
i secretary of the treasury to pay out
any portion of the money in the treas
ury. whether derived for the sale OF
bonds or not. Whenever congress au-
thorizes the payment out of the treas
urY Of any money, not otherwise
appropriated. il there is no other money
i'll the treasury
EXCEPT THE GOLD.
| he thereby is authorized TO make the
payment from that fund"
"fhere is a question:" interrupted
! Senator Teller, "dS to whether the gold
reserve is not money otherwise appro.
! priated, When congress says to the
! secretary he may for a specific purpose
! borrow money there is an obligation:
! an If iS q nf ia Il 1,
! part if he uses the money for other
| purpose"
There is TO specific amount of re-
serve fund" said Mr.. Villas. There
never was limit fixed 10 it, Whatever
congress directs the secretary OF the
| Treasury to do he must do. His duty is
to obey congress. Congress is the BOARD
| of directors of this treasury bank, and
! he is their agent"
At 4:15 the clerk of the house ap-
| peared with the tariff bill, and Senator
! Villas suspended until it was duly re-
ported 10 the senate. BY request of
Senator Voorhees, it was laid before the
senate, and on his motion referred to
| the finance committee, with an order
| that 1000 copies be printed at once for
use OF the senate.
| ReSuming his argument. Senator
| Villas said said he would have consld-
cred the secretary of the treasury as
unworthy of relief if he had not at this
time, after repeated attempts to arrive
at some solution of the question, taken
proper steps to fortify the treasury
against the perils which beSet it. The
trouble with the treasury now, he went
| on,
DOES NOT ARISE so MUCH
from the appropriations which have
| been made as it arises from two other
measures. both of which were enacted
| in the Fifty-hrSt congress, when the
| Republicans held overwhelming pos
session OF both branches of the govern
| ment; one of these measures being the
Mckinley law, by which the revenues
are diminished until they are INSULT
| cient to meet the appropriations, ana
| the other was the Sherman law, by the
operation of which disaster was precip-
] ltated upon the country.
| FOL