The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1895-12-28
In The SENATE.
Revenue Bill Referred to Committee
The Programme.

~-o'Suu0 Dill RoloTTcN u q
The Programme.
Washington, December 27.-ln the
Senate today Mr.. Hill of New York, in
troduced joint resolution directing that
any bonds hereafter issued under the
laws now in force, may in the discretion
OF the Secretary of the Tresaury be made
payable in United States gold coin Of the
present weight and tineness, or in
standard silver dollars at the option of
the holders of such bonds, but no bond
containing such option shas bear rate
Of interest exceeding 8 per cent per an
mum payable quarterly.
Mr.. Hill addressed the Senate in sup
port Of the joint resolution. He said:
"The option is here presented to save the
people millions OF dollars in the shape of
interest, and why not avail ourselves Of
1T? II those who have mouey to loan are
willing to charge us lesser rate of in
terest if the bonds to be issued are made
payable in gold, it is difficult to see what
reasonable objection can be urged to
making them SO payable at the option of
the holder.s Why should any prejuice
against gold be permitted to interfere
with such transaction? Why should any
question about independent or inter
national free coinage be allowed to pre-
vent the consummation of a favorable
bargain to the government and the
people? The measure have suggested,
is measure simply for temporary relief.
| AS a measure of permanent relief 1T is
reasonably clear that all United States
| and treasury notes would be redeemed
and then cancelled"
| At the close of Mr.. Hill's speech he
moved the reference Of the joint resolu-
tion to the finance committee, but at the
request of Mr.. Allen, Populist, he with
drew that motion and agreed to have the
| joint resolution lie on the table.
| His speech was replied to by MIR. Teller
of Colorado, who spoke of the last bond
contract with syndicate rs lasting
| disgrace, showing either the dishonesty
or inbecility of the administration. The
| public press, Mr.. Teller said, reported
that there was to be another bond issue,
and that that issue would not be as
| favorable at this time as the last one was
because the government was in greater
distress than year ago Against all
| that he protested. The securities of the
United States were the gilt edged securi
ties in every market of the world. AT the
proper time he would express his opinion
on the executive department., from the
President down to the tidewater waiter
who now assumes to speak on the finan-
cial matter"
The progress Of the tariff bill will not
be impeded in the Senate. 1t was re-
ferred to the committee OH finance today
| and subsequently several Democratic
mem bers of that committee were in con-
ference with Mr.. German andsother lead
ers discussing the Democratic policy in
dealing with the measure. 1t is tacitly
understood among these senators that
there should be no unreasonable time
consumed, either in committee or on the
floor of the Senate. 1t is believed that
the debate in the Senate will be much
shorter than was anticipated, and that
the Democrats, after they have stated
their position, will permit the bill to
come to vote.
The prediction is made by leading Dem
ocrats that the bill as it came from the
House camp 1t pass the Senate. Mr.. Voor-
hees believes the bill will be considered d
promptly in the committee and reported
to the Senate as expeditlously as possible
and no member of the finance committee
is willing to predict whether the bill
will be amended in the Senate committee
The Senate at 2. 80 went into executive
session and soon adjourned until Mon
day.