The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-02-14
IN rax SENATE.


= a0U0Cso1 nkt8 Qy sherman ana NM4o--
Ths Foasessce apprsprsasien.
Washington City. Feb. ss-The senate
began its session today with q spirited
discussion on the financial question. hnt
soon turned It's attention 10 the pos,of-
Zee appropriation essl and spent the re-
Ulainder of the day on the proposition 10
have the government owa railway postal
cars
A financial bill on the lines CT the presi-
esests last message 10 congress was pre-
ssezited by Villas. The measure Is entitled
"A bill 20 save The American people Sls.-
1i4sssa II recites the presidents ssate-
ment that he bad agreed % issue s.. seo.-
COO bonds payable ia .-ccln'' at an inter-
est equivalent 10 , IA per cent. but had
retained the right to issue hoads payable
IN gold at per cont IL congress granted
him authority. The bill states that this
difference in Interest amounts TO ssss. .iss
a year or sieis4.7ae in the thirty years dur
ing which thu bonds ara to run. It is
provided that the secretary OF the treas
ary shazl be authorized 10 issus sss,ooaceo
bonds at 3 per cent. interest payable in
goad in thirty years. TO be used In redeem
Ing legal tenders and 10 be exempt from
tax.
Hoar. addressing himself 20 Villas, said:
''Win tire senator tell US his authority for
the great saving he sets forth? Who are
the persons with whom tais arrangement
| for buying bonds has been masiee Where
Is the contract? We ought TO be fully IN
formed
II am not keeping the executive decu-
ments." responded Villas. s.the president
has given US his views IN his message''
"Bn;." insisted Hoar. I'VE should have
details. We have only the statement OF
certain facts and conclusions by the pres.-
dent, but there is an entire absence OF de-
tails
II have no more details than any other
senator" said Villas.
Wolcott gave. a new turn to the discus
sion. 'srhe morning reports tell u.s. said
he, that the bonds are being taken in
London at 1l2 i-2. and by this means the
syndicate of Jewish bankers who have
taken tho bonds are netting proit OF s
per cent"
Villas said that was an asdisseaal reason
why new form of bonds should be au-
thorized.
Teller said the president had given no
details as to the contract with the bank
ers. The ways and means committee of
the house had been trying to get ak the
facts, but had not yet found. out the
names of all the parties Interested In the
bond contract. A few months ago our
bonds sold easily at less than . per cent.
interest 1t cculd NOT be possible. said
Teller. that the utter lack of tact OF the
treasury department had forced up the
rate of interest from less than per cent.
to 8 s-4 per cent. interes. when the last
bonds are much superior to the former
ones. IL their bonds were selling at suoh
a handsome profit in London. 1t showed
that the credit of the United States had
not been so disasHously impaired as the
president sought to make the country be-
lieve.
At this point Sherman came forward
with another financial measure. He of
fered It as substitute to the bin for the
unlimited silver coinage reported from the
finance committee yesterday.
The bills of both Villas and Sherman
went to the table. Therenpon Hill raised
the point that they ought to go on the
calendar. where they could be gotten at
and would have the same advantages as
tho silver bill reported yesterday. There
was a spirited coliooay. but they were left
on the table
AIdrich had suggested during the debate
that il the senate wanted more details as
10 the bond contract between the treas
ury and bankers the best thing to do was
to call for the contract He now intro-
duced a resolution to This effect. 1t calls
- a ~ 4
not incompatible with public interests, a
copy. of the contract between the treas
ury and certain bankers for the purchase
of bonds. Aidrich sought TO have the
resolution Immediately considered. but
Vest objected and II went over.
With this financial prelude ended, the
session turned TO general subjects. @Mor-
gan secured the passage OF joint resolu-
ton in acocrance with the presidents an
nual message concerning the Venezuela
British Gulara boundary.
The house resolution was passed exteuf-
ting the time for making returns on rhe
income tax from tho irat Monday in
March TO April Is next.
L The senate then resumed consideration
of the postofiice appropriation blu. chand-
Ter made a sharp arraignment OF the pro-
vision giving the postmaster general dis
cretion over expendIns 81. 10000 for postal
railroad rates. II gave designing men an
opportunity TO squeeze railroads by
threatening TO put them on the rack IL
they wished to have the compensation IN
creased for postal service.
.'Ani the great political committees also
seek various means Of raising money"
said Chandler s~rhey seek money from
all available sources. They like II IN large
sums and they prefer 1t from corpora
tIons rather than in sTnan subscriptions
from indtviduals'
German. AT one time chairman of the
Democratic national committee. contend
ell that 6.handler's kIeas OF political In
fuence were groundiess.
Villas. who was postmaster general In
STR. clsvelanf's first cabinet, supported
the amendment. The railway postal ser
vice was being run at a loss OF 81. 500 GO
annually, although reliable men would
contract TO run II without a dollars de-
fscsency IL they could have reasonable
/ laws and regulations.
Villas offered an amendment 10 the
/! pending bill, providing for the purchase.
sary railway postal cars by the govern
rssnt. and providins an appropriation OF
sSes.06e therefor. yilss said that white ne
was at the head or the Icstof'ice depart
,,ent he had made careful inquiries show
ing that the total value ef railway postal
cars was 81 .sca. no alrhough congress APP
r-opriatesf s. osDoss for rhe annual rent Of
these cars. bess1e paying by weight for
.hs uaasl they carriaf. He ais, nreaeHtsei