The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-03-04
THREE BIG ISSUES TACKLED.
= REVIEW OF THE WORK OF THE
EXPIRING CONGRESS.

the Tariff Duties-As "a Wind Up
Came the Senatorial Struggle over
the Financial Policy of the Gov
ernment.
Washington, March S.-The three ses-
sions of the FIfty-third congress expiring
at noon. March 4 1885. were dominated
by three controlling issues The first by
the silver question, the second by the
tariff question, the third by the financial
question.
On August Z, 1898. the congress con-
vened in extraordinary session for the
avowed purpose Of repeating the compul-
sorry silver purchase provision of the
law OF 1880. This was the silver session
W. L. Wilson, chairman Of the ways
and means committee. prepared a
bill in conformity to the rec
concentrations of the Presidents
message on August 2s, 1898. This meas
ure passed the House. The Senate in the
meantime had been preparing, through
the committee on finance, a substitute
bill, and November l this SEN
ate substitute received the ap-
proval Of both houses became
law by tie approval of the
President. This measure, and the repeal
of the remaining vestges Of the recon-
struction federal election laws, closed
the important work of the extra session.
Upon its meeting in regular session in
December, 1893 congress entered upon the
consideration of the revision Of the tariff.
As in the case of the silver question. but
in a much more pronounced manner, the
House proposed" and the Senate "dis-
posed" The Wilson tariff bill, passed by
the House Feb. !, 1894, was set aside for
the Jones-Gorman compromise tariff bill
adopted by the Senate on July 8. 1894
after four months debate, and the House
was given the blunt option of the Sen
ate bill or nothing" 1t took the Senate
bill and sent it to the President on Aug.
49, 1894 President Cleveland permitted the
bill to become a law without his approval.
and in an informal manner communicated
to individual members of congress his dis
satisfaction al the inadequacy of the
changes made in the tariff system.
Supplemental to the passage Of this tariff
law, the Senate entered upon a proftless
and inconclusive investigation of rumors
that Senators had been improperly in
/ fiuenced to vote for the Senate sugar
schedule and had .speculated in stocks of
the so-called sugar trust company.
The third and last, or financial" session
of the Fifty third congress has been es-
pecially marked by the refusal of both
houses to put into legislative shape the
recommendations of the President for the
aleviation of the stringent financial sit
uation.
The President, in his annual message.
called attention to the continual deple-
ton of the gold reserve and complained
that, though it was perfectly and pal
pably plain that the only way under pres
ent conditions by which this reserve, when
dangerously depleted can be replenshed
is through the issue and sale of bonds of
the government for gold, congress has not
only thus far declined TO authorize the
issue of bonds best suited to such a pur-
pose, but there seems a disposition in
some quarters to deny both the necessity
and the power for the issue of bonds at
! ALL"
The banking and currency committee
of the House, with the approval of the ad-
ministraton, submitted a financial meas
ure which, among other provisions, ma
terially modified the national banking laws
/ and repealed the restrictions on state bank
! circulation. This bill was defeated by six
majority. 1t was followed by a second
| message from the President, received by
| both houses of congress Dec. q, in which
/ the President said that whatever might
have been the merits Of the original plan
/ proposed by him, he was now convinced
/ that its reception by the congress and our
/ present advanced stage of financial per-
| plexity necessitated additional or differ
] T1.r rf.a1, in
mended the passage Of a law authorizing
the issue of low interest bearing bonds to
maintain the gold reserve.
| The banking and currency committee
| responded TO this suggestion by offering
| on Feb. /, 1895, a bill to authorize the
! Secretary of the Treasury to issue bonds
| to maintain sufficient gold reserve, and
to redeem and retire United States notes"
After only two days debate this bill
was also defeated by a majority of q.
/ On the next day the President informed
/ congress that he had negotiated a condi-
| tional sale of over $62W0,OOO Of per cent
/ coin bonds to a syndicate largely repre-
/ senting foreign capitalists. having no
| other resource left because of the omission
/ thus far on the part of the congress to
| benefcially enlarge the powers of the Sec
| retary Of the Treasury in the premises.
| This last message went to the ways and
| means committee, whose chairman, Mr.
Wilson of West Virginia seven days after
/ its receipt reported a resolution author
/ izing the issue Of sea, ,275 Of gold per
/ cent bonds, as recommended by the Pres
/ ident. The measure was called up on
! Feb. IA and defeated on the same day by
| AZ majority, after a stormy debate
These three financial measures. with the
general appropriation bills, consumed the
| greater part of the session Early in the
/ session the democratic caucus of the Sem
/ ate agreed that the following matters
! should be considered: a financial meas
! 11re of some sort, details not designated;
/ the bankruptcy bill, the bills for the adj
1 mission Of New Mexico and Arizona, the
/ Nicaraguan canal bill, and the state bank
/ tax repeal bill.
OF al these measures, the Nicaraguan ca
! nal bill alone passed the Senate after two
/ months debate, and that only because
| the republicans utilized il as a buffer to
! keen off the bankruptcy bill II failed to
! receive consideration in the House. The
( hankrliptcy bill was made the unfinished
/ business, but was choked by the appro-
nriation bills Financial measures were
! not acted upon by the Senate, and moth
( ing planned by the Senate caucus re-
/ suited in legislation. The so-called Pop
/ gun" tariff bills sent over by the House
providing for free sugar. free coal. and