The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-01-31

ernment of the United States. That full
crGm OF sos, ,00O. 600 of gold on which our
whole money structure rests has been
beneficial in every respect in which it can
be viewed, IN the first place, under that
tulcrum was built and laid out the solid
founeation of our law. The United States
notes Notwithstanding the promise of
the people TO pay them were below par
and when the resumption act passed,
our money was worth S5 cents
on the dollar in coin. And every day and
every hour since this fulcrum was made,
every dollar of our United States notes is
as good as gold in every land of the
world. You may travel with those notes
bearing our signet wherever the flag Of
commerce floats, and every one of them is
as good as gold"
CAN BE USED FOR ONE PURPOSE ONLY.
Mr.. Sherman went on to say that he
did not believe thatit is within the power,
or in the general line Of duty of the Sec
retary of the Treasury TO take the money
received from these bonds and to apply it
to current expenses. He did not see any
authority of law for that. Therefore, he
said to the gentlemen on the other side,
that they must provide for the deficiency
in some other way than by tampering
with the money got from the bonds for
one purpose only. They must provide
other funds, If necessary, to make good
any deficiency in the current revenue.
That was perfectly clear.
But on this pending question: he
said, II feel that we ought not only to
vote down this resolution, but vote affirm
atively for a resolution that the Secretary
OF the Treasury has the unquestionable
power to issue any of the kinds of bonds
provided for in the refunding act, in order
to maintain that solid reserve in the
treasury on which all our credit and all
our money rests"
QUAY OFFERS AN AMENDMENT.
Mr.. Quay, rep of Pennsylvania, offered
an amendment to the resolution providing
that the money received from these
bonds shall be applied only to the redemp-
tion of the legal tender notes of the
United States presented at the sub-treas-
ury in the city of New York.
MIR. Dubois, rep, Of Idaho, moved. as a
substitute for the resolution, the one re-
ported in the House OF Representatives
from the committee on banking and cur
rency.
Mr.. Sherman remarked that he ap-
proved of that resolution because it recog-
nized the full authority of the Secretary
of the Treasury to sell bonds for redemp-
tion purposes, and declared that the
money received from the bonds should not
10 uSou lOr ObuSF purposes,
THE ELECTION BILL TAKEN UP.
At o'clock the election bill was taken
up and the bond matter went over. AS
the outgrowth of the colloquy between
Messrs. Gray, Hoar and Chandler, it was
agreed that the general debate on the
federal elections bill should cease at 4
o'clock p m, on Tuesday next, at (which
time debate should be had under the five
minutes rule and proceed until the bill
was disposed of.
Mr.. Chandler offered two amendments
to the repeal bill, the first providing that
the flag of the United States and the
words ''for representative in congress-
should be stamped on every box for con-
gressional ballots in the elections in the
states, and providing that a penalty OF
500 fine or thirty days. Imprisonment, OF
both, shall be imposed for any violation
of this provision. The second amendment
requires election judges to make up and
publicly declare the result of the congress.
sional election in the precinct Immediately
after the closing of the polls.
Mr. Turpie took the floor against the
election law repeal and held it until 3:5C
o'clock, when the Senate went into execu.
tive session. At Ais o'clock the Senate
adjourned.