The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1895-02-22

JUG NtIoVsssy
The following is the minority re-
port upon the bill in Congress from !
the committee Of Ways and Means, i
which was reported TO the House
last week. The bill was to com (
nit congress to the increase OF the .
National debt in time Of peace, bysC
'buying gold to hoard in the Treas
ury as recommended and deter. /
mined upon by President Cleveland
and Sec'y Carlisle, and gang OF
English spectators, whether con-
press or The People approve It or
not The minority properly stig-
matte il as an effort by foreigners
Ito buy such legislation as they wish
,Ifrom congress and the President.
' sowing to the limited time al
ellowed for preparing report, the
|, undersigned dissenting members OF
: 1.-The committee, are precluded from
presenting their views with that
t elaboration which the importance OF
1.-The subject would otherwise Justify
l-Ibut they beg to state briefly the
It most important reason when ieo
elthem to disapprove Of the measure
recommended by the majority ol
'e|the committee.
'e The issue Of bonds Of any kind !.
only needed to replenish the goie
De reserve. and the gold reserve oni.
needs replenishing because the sec
retary Of the treasury redeems unl
ted States and treasury notes In tn
kind Of coin selected by the note
holder. The note holder mas q
legal right to choose the coin
which the obligation shall be n
deemed, but has been permitted !
exercise that right by policy II
augurated by the treasury dePar
ment, at or soon after the date
the resumption Of specie payment
om 3 If we we're willing to autho
alize the issue Of bonds at this TN
to purchase gold, we would still !.
$, opposed to bonds payable specl
nd. Icallv in gold, because an issue
snch bonds would either pledge I
ofIpoyernment to the redemption
IA -all obligations in gold or make Z
arv discrimination against coin opil
- It;ons now outstanding. There
nd no question that the issue OF 9
,;oh bonds now would at once be Toll!
nre. ed by demand for an act maxi
are existing bonds payable in gold,
t;on il would be urged that it would
Iass- disastrous to depart from the pol
one of gold bonds when once inaugul
,ula- ed, Just as it is now urged that
,lled would be disastrous for
government to resume a dis
ton which has been tenn
arilv sure ldered to the n
the holder. 1t is impossible to over
loois timate the evil influence wi
Ihe would be exerted by the issue
state gold bonds by the government,
are cause such action would natur
than and necessarily encourage, II
ana actually compel, the issue OF
bonds by all public and private
,6s4 porations, and the making OF
!, ~ contracts by individuals geners
! ,O5o Such an increased strain upon
' ,6yl would manifest itself in the fur
) ~. rise of the purchasing power OF
,4o5 dollar, and in further ana
z 90 tressing addition to the load
., ~ deb. now borne by the people.
y, ,6oo 8. The minority is opPosec,
! ,2lO the issue Of bonds running Tor U
c-ey years. .,, -,
- 81 ;ze the issue Of thirty-year
- ,63S bonds we should still be oppos'
i, ,S.9 recoonizing or ratifying . con
20 w as harsh in its terms and as IN
50 ,OOO ions in its demands as the con
10 6'oso insisted upon by the bond
f''i chasers.
great ( five were willing TO apl
IN the of such a contract under ord
ample, circumstances we would still !
nrolled posed to approving it when ma
'ar for a sovereign governmeht WIN
1854 eign financiers, under circumst
I ,551,- which suggest desire upoI
pupils part Of the subjects OF al
!, while country to purchase change
pupils, financial policy Of this nation
'arolina sum stated.
schools 6. Further reasons mig
Kansas, found in the fact that the co
"a ,3i6,- provided for the sale OF coin
223, $50 al about 104is, which would
lile Cal in the market at about lly;
n, pays that contract agrees to sell
year gold bonds drawings pc
interest for less than the
ment three months ago sold
,e snake year coin bonds, and in the
man. iional fact that foreign invest
,e mean by the con.iao' So - \