The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1895-12-28
BOND BILL DEBATE.
CONTINUED from First Pasc)


In the day the objection was Withdrawn
and the resolution adopted.
Mr.. quay Qep., Pa briefly explained
the nature of n bill he introduced Tor
increasing the duty on leaf tobacco.
The bill making Palm Beach. Fla. n
SUPPORT OF entry ana delivery was
passed.
The fatality at Chicago. when, some
thing more than n year ago. ammunition
exploded in the street, was recalled by ii
bill offered by Mr.. Cullom of Illinois conf
lensatlug the families OF those killed.
The bond question made Its appearance
VIXEN Mr.. IAN OF. New York introduced
the following resolution:
Resolved That any bands hereafter Is
sued under the laws now in force may,
m the discretion OF the secretary of the
t,easury, be made payable I'm gold coin
of the present standard ~cight and fine:
ness or iu silver dollars Al the option Of
the holders of such bonds; but no bond
containing such option shall bear rate
of interest exceeding 3 per cent per an
MIN, payable quarterly.
Mr. nm spoke at some length In favor
of his resolution. lie detailed the 2enous
condition Of the treasury. which could be
only relieved by another issue. The sec
rotary IF the treasury was hammered I'M
der tho present law and should he given
the opportunity of selling gold or silver
bonds. An amendment to tho present
law he believed imperative.
Mr.. hin considered al popular bond Is
sue under the present statute impossible,
but his resolution would take away TINS
obstacle. No tariff law, he sad, would
thorities, he claimed. had clearly shown
that tremendous expansion Of our paper
circulation was the cause of our critical
condition. His resolution was tempo
Mr.. Teller CRep.. Colo.) protested against
the assertion first made by the president
of the United States. and now repeated
in tho United States senate, that the
United States was bankrupt. He spcci-
fled tho sales of bonds last year to show
that coin bonds were readily sold.
"ln that transaction, which was an ever
lasting disgrace, showing the dishonesty
or imbocillty Of this administration. our
bonds were eagerly sought" said Mr.. Tel
There was a sharp colloquy between
Mr.. HIN and Mr.. Teller as TO the nur-
pose of the resolution. sr Hin said u
simply sought to specify payments ~ sold
ms good hnapciers doubted orr ability 10
float bonds at less than per cent.
Who doubts IT. asked Mr.. Teller pas
sionately. We are told that q great bank
~ from New York has recently been
/ invited to Washington 10 ten US now u
get out of this dilemma; THIS Y only on1
| Of tho bankers concerned IN the disgrlrcIu W
action OF last year. Is he one who doubt
our ability 10 float bonds al iess than
NJ Teller preceded with much yisor,
his expre sslan bringing forth ripples OF
applause nom the galleries. lie repudi-
| nted the suggestion, he said tnat ou;
/ credit was destroyed. The securities oi
/ ~
markets Of the world They were cag"rly
| soi.rht hy fnanCiers. They had never
1 been dishonc red and their dishonor pro-
! Claimed. excep. by this president OF tbs
| Iiniicd States and these who represtn ,ed
! MIN i'm the United States senate.
Mr. Teller entered his solemn protest
aEainst this degradation OF our National
| credit. - ,,,a. 81 vii, 4,
| detail answer this assault on our Ma,
| tionai bopor--from those OF the president
/ dawn 10 his lowest tide waiter who -
s,irnss to come here aud speak on financial
IL Tie country was in danger. II was
| benatise OF the presidents incorporate
| 9ronrial utterances. II was disgrac,
\ 10 haye this constant assertion OF Ma
M NJ Teiler declared that the utterancei
! of the president on finance were 10 re
assure hls friends w New York ,witf
whom ne always advised. VINO had be
! come alarmed at the position the president
| ma ,Hken on another subject
Ny kIlen Rep. Neb.l prot ssted against
the remarks OF Mr.. Hill and the latter'i
NJ Hill, replying. said attacks on th'
| secretary OF the treasury were FOR al
| Iceei offenses when every secretary dur
| INC the last fifteen years had pursued ~
| same Motley. They had all protected IN
| gold reserve. II this reserve was not pro