The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1895-02-14
IN The SENATE.
The Financial Qu-s I'm Kicked All
Around the Chamber

The Financial Cues lon Kicked All
Around the Chamber
WAsHISGroN, Feb. 13.-A financial bill
on the lines of the presidents last mes.
sage to congress was presented TO the
senate to-day by Mr.. Villas. The measure
is entitled a bill to save the American
people SIG, l74,770" IL recites the presi.
dents statement that he had agreed to
issue S62, 10000 bonds payable in coin ~
at an interest equivalent to 80 yer cent,
but had retained the right to issue bonds
payable in gold at per cent. if congress
granted the authority. The bill states that
this difference in interest amounts TO
S539,159 year, or SIC, l74,770 in the 30
years during which the bonds run. 1t is
provided that the secretary of the treas =
ury shall be authorized to issue S65. OO0. 900
bonds al per cent. interest, payable in
gold in 30 years, to be used in redeeming
legal tenders and be exempt from tax.
Hoar. addressing himself to Villas, said:
Twill the senator tell us his authority for
the great saving he sets forth, who are
the persons with whom this arrangement
for buying the bonds has been made and
where is the contract? We ought to be
fully informed
Il am not the keeper of the executive
documents" responded Villas. ''The
president has given us his views in the
message"
But" insisted Hoar, 1--WE should have
the details. We have only a statment
of certain facts and conclusions 10y the
president, but there is an entire absence
of detailsr
~ have no moro details than any other
SENATOR" responded Villas.
Wolcott gave a new turn TO the discus
sion. Tho morning report tells IL i" said
hP shthpGa hou1a haip L..
don at 111E. and by this means a syndi-
cate of Jewish bankers who have taken
the bonds are netting a profit of per
cent"
Villas said that was an additional rea-
son why the new form of bonds should be
authorized.
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 at the
facts, but had not yet found out the names
of all the parties interested in the bond
contract few months ago our bonds
sold easily at less than 3 per cent. interest.
1t could not be possible. said Teller, that
the utter lack of tact of the treasury de-
partment had forced up the rate of inter-
est from less than per cent. to go per
cent. interest, when the last bonds are
much superior to the former ones. If
their bonds were selling at such hand |
some profit in London it showed the |
credit of the United States had not been |
so disastrously impaired as the president |
sought to mako the country believe.
At this point Sherman came forward |
with another financial measure. He |
offered il as a substitute to the bill for the /
bill for the unlimited silver coinage re-
ported from the finance committee yes
terday.
Sherman's bill is similar 10 the one in
troduced some time ago, although he now
gets it directly before the senate. 1t pro-
vides for bonds at per cent. payable in
gold, and for the issue of gold certificates.
Both the bills of Villas and Sherman
went TO the table.
Adrich introduced n resolution calling
on the president to send TO the senate. if
not Incompatible with the house bills in
terests, n copy of the contract between
the treasury and certain bankers for the
purchase of bonds. Aldrich sought to
have tho resolution Immediately consid-
cred, but Vest objected and il went over.
Morgan secured the passage of Joint
resolution in accordance with the presi-
lent's annual message concerning the
British Guinea boundary.
The house resolution was passed ex-
IeuuiuE TIE TIME LOT making returns |
he income tax TO April Is. next.
The senate then resumed consideration |
II the postofiice appropriation bill.
Chandler made a sharp arraignment of
he provision giving the postmaster gen. ,
.ral discretion over expanding the s. 2OO.- ,
20 for railroad postal rates. 1t gave de- ;
igning men an opportunity to squeeze" ,
he railroads By threatening to nut them ,
IN the rack If they wished to have their
increased for postal service. =
And then the great political commit 7
ees also seek various means of raising {
Money" said Chandler. "Tney seek I
money from all available sources. They
Ike II in large sums AMI prefer il from
lrge corporations rather than IN small
inscriptions from individuals"
German, at one time chairman of the
emocratIc national committee. con- q
ended Chandeliers idea of political infll- Z!
nee was Eround.ess. III
Villas, who was postmaster general in D