The Roanoke daily times. (Roanoke, Va.) 1895-1897, 1895-12-29
HAPPENINGS AT WASHINGTON
Bond Bill Passed by the House
Yesterday
with Practically No Excitement. But Not
Until Nember OF Republicans, as
Well as Democrats. Had Spoken
Against Ie-The Bill Provides for the
Issue of Three Por Cent. Coin Bonds.

WASHINGTONt LEO. SS.-Ih6 House
to-day passed the bond bill by vote of
10 60 1876, and thus, having discharged
the task for which 1t has been sitting
during the holiday recess, effected On
agreement by which the House should
adjourn next week three days. at time
In order to give members an opportunity
to spend New Years Day at their
homes. The closing hours OF the debate
to. day were lacking in spirit. and there
WAS practically no excitement until the
vote was taken.
Tho margin of thirty three by which
the arst section Of the bill, against
which the Republican opponents of the
measure massed their opposition, was
passed, showed that tho friends of the
measure had marshalled every available
vote In Its favor, as forty-seven Repub-
licans refused to act with the majority
Of their party. The Populists and Dem
ocrate, with the exception of Mr.. Hutch-
tson, OF Texas, who voted for the bill,
presented an unbrokeo front against the
measure.
The bill, as passed. amends the re-
sumption act 30 as to permit the issue
OF per cent. coin bonds. redeemsble
after five years at the pleasure OF the
Government and payable in fifteen years
with the specific proviso that nothing in
the bill shall be construed to repeal the
act of 1878 for the REISSUE OF green
backs and that the bonds shall first be
offered for subscription at the sub
treasures and repositories of the United
States. the second section of the bill
provides for the issue OF three year
three per cent. debt coins OF denomina-
tions Of $40 and multiples thereof, in
amounts not exceeding $50, o0O, 900 to
meet temporary deficiencies.
Mr.. Brosius {Rep., Pa.) opened the
debate In favor Of the bill. This was
the only country on the globe" ne said.
where gold redemption had neither
qualification nor limitation, and whore
the Treasury was without the power to
resist the incursions of foreign gold
grabbeTs or domestic spectators. The
revenue deficit WAS the chief sinner in
the comedy of errors which had pro-
duced the present troubles. The people
OF this country should have the first
opportunity TO help the Treasury out of
the trough OF the financial sea. The
President had appealed for succor for 8
distressed Treasury, and IL WAS our duty
to put aside party expediency."
Mr. McLsurin (Dem-, 8. CO. opposed
the bill because 1t would increase tho
burden of an already overtaKed people
and would have tendency to legalize q
series Of usurpation OF power by the
Secretary OF the Treasury. II the Sec
rotary would use his dicretiou and re-
deem notes in silver the gold raids
would cease and new hope would be in =
fused into the Democratic party now
crushed in the financial policy of the
administration.
Mr.. Lswnry, (Dem.,.. Minn n member
of the ways ana means committee. in
support Of tho bill, called astention To
PRESIDENTS urgent appeal to Congress.
MIR. Burton (Rep Mo and Mr. Con-
nelly (Rep., ill.} who had been counted
on as opponents OF the bill, gave their
support to 1t in brief speeches.
Mr.. Hopkins lEep.. Ill.) in support of
the bill argued that there was no ne
ceseity for the isaue OF gold nds.
Time and the Treasury's experience
with the last bond Issue had de MON
s'rated this. The bonds sold abroad
had returned to this country. There
was ample gold here to supply the needs
of the Treasury.
Mr.. Payne (Rep.. New York; cslled
attention to the fact that the admins
tration was already preparing to issue
500, oo0, OaO OF thirty year 4 per cent.
bonds. This was the emergency That
this bill met by reduction OF tho in
terest.
1.-THE Presidents message" inter-
rupted Mr. Linney (Rep., North Caro-
lina) 'gays that Sl55. 900, 600 OF silver
certificates issued against the bullion
purchased under the act of 1890 con-
stituted gold obligations. Why did not
the ways and means committee provide
for the coinage Of that bullion and the
redemption of these notes in silyer?"
democratic applause
.'The Secretary now has authority to
coin and redeem the Sherman notice."
replied Mr.. Payne. "But one thing at
q time. This bill proposes to give the
Governments the power to redeem it's
gold obligations in gold" Republican
applause).
aide. He said he would endeavor to
bring the House back to the real issue.
The President had pc nted out to Con.
gress that the gold reserve was dimin-
ishing and had appealed to Congress not
to adjourn until some relief was afforded.
That was plain business proposition.
"You gentlemen" said he addressing
the Repu blicsn side, SHOULD either act
upon IL or decline to act upon it. You
should not play politics and claim you
are acting in response TO the Presid ent's
message. The President says there ia
no deficiency. The official statement
shows Sl75, 200. 900 in the Treasury, but
the President asks you to retire the
and to enable the Treasury
to sell gold bonds -
us the gentleman from Georgia in
favor of 1t ?" asked Boutelle.
II am not," replied Mr.. Crisp. amid q
roar OF laugh er on the Republican side
Those on this aide who favor the single