The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1895-02-13
The House Ways and Means
Committee Agrees to Re-
port a Resolution.
FREE SILVER SPECTRE
Still Another Measure introduced
In the Senate-An Old Law
OF 1857 Dug Up.

when bills or joint resolutions were called
for by the Vice President, Mr.. Viles
Dem, Wis., rose and introduces bill
with the title '-To save the people of the
United States S16,170770." At his request
it was read. in full and laid on the table
of the Presidents recent communication
to Congress as to his reservation of the
right to exchange within ten days, three
per cent. gold bonds for four per cent
coin bonds. and thus save an annual
interest of s539, ,159. making an aggregate
saving in thirty years of si6,174,77o, and it
authorizes the Secretary of the Treasury
to issue three per cent. thirty-year gold
bonds.
Attention was called by Mr.. Wolcott
Rep., Colo..l to the statement in the
morning papers that the four per cent.
bonds were quoted at 1121s in London,
showing that 'fthe syndicate of Jewish
bankers was making eight per cent
profit.
Mr.. Teller Rep.. Col.,) also referred
to the same statement and complained
that the American people had had no op-
portunity to subscribe for those bonds.
Mr.. Villas seid that his intention had
been not to bring on debate today, but
merely to have the bill printed and laid
on the table.
Mr. Hill lDem., N. Y..) whether the bill
should not be placed on the calendar, SO
that a motion to take it from the calen
dar for consi5eration-w without reference
to a eommittee-would be in order.
Mr. Villas said that he had no objection
to that: but an objection did come from
Mr. Teller. There was a parliamentary
discussion as to the operation of the
rules on that point; and finally the Vice
President ruled that-objeetion being
made by Mr. Lodge (Rep., 4Iass..)-to
having the bill laid on the table. it went
20 the calendar-which was what Mr.
Lodge desired to accomplish. And now
--3eae bill can be brought before the Senate
lat any tirn56E otion.
A Substitute WIS alsc offered by Mr..
Sherman Rsp.. ohfo,D for the free coin
age Of silver BILL reported yesterday
rom the Finance Committee, and it was
read and laid on the table. 1t authorizes
the issue of three per cent. gold hve-year
bonds, and also the issue of three per
cent certificates of Indebtedness. payable
in lawful money.
HOUSE WAKES UP.
The House Ways and Means Commit
tee today agreed to report the following
resolution
Resolved That the Secretary of the
issue and dispose Of, at not less than
par in gold coin. bon6s of he United
States with the qualities privileges and
exemptions as bonds issued under the
act approved July IA, 1870, entitled an
act authorizing the rerunding of the ma
s55, 1925, bearing intere at rate not
exceediag per cent. Pr annum prin-
Of the present standard of weight ard
fineness such bonds to be made payable
not more than 80 years after date: pro
cseGs Of the sale OF such bonds nor of
the notes redeemed with such proceeds
the current expenses of the Govern
ment.
The resolution was adopted by a vote
OF 8 to 5, those voting IN the affirmative
being Messrs. Wilson. of West Virginia;
Turner of Georgia; Cochran, of New
York; Montgomery, OF Kentucky; Stew
ems, of Massachusetts,. and Tarsney, of
Missouri Democrats), and Reed, Of
Maine, and Payne, of New York, Republi
cans. The negative vote was cast by
Messrs. McMiIlin of Tennessee; Bryen,
of Nebraska; Wheeler, of Alabama, and
Whiting, of Michigan DeTnocrats), and
Hopkins, of Illinois (Republican). Mr..
Grosvenor (Rep., Colo.) who was present,
did not vote. inasmuch as he was op-
posed to the proposition, but will
ing that it should be brought before the
House Immediately a-ter asking this
vote the committee adjourned.
The report accompanying the resolution
will be written by Mr.. Wilson, of West
Virginia, the chairman of the commit
tee and viii probably be submitted to
the House this afternoon.
WHEELER'S HuMBUG.
There was some discussion when the
committee first met over the resolution
introduced yesterday by Mr.. Wheeler, of
Alabama, which charac. erized the issu-
ance OF gold bond as an abandonment
of the principle of bi-metalism, his con-
tention being that no nation has ever
issued a gold bond. He said that Secre-
tary Carlisle had said this in answer to
a query addressed to him yesterday by
Mr. wheeler, when the Secretary was
before the committee
The Republicans had little to say con-
cerning the Wheeler proposition or the
other propositions which were also voted
upon today Mr. Reed Of Maine said to
the Democrats repeatedly in effect
This IS your business, gentlemen
don't want to oppose any measure you
desire to get before the House. Report
what you want"
Mr.. Cochran of New York offered an
amendment to the Tarsney resolution
of Yesterday which provided originally
for the sale of three per cent. gold bonds
whenever necessary to maintain the fold
reserve in the Treasury. the bonds to be
sold by public competition without any
limitation of the time they might run.
The absence of time limitation was
objected to by some of the committee,
whereupon MIR. Cochran changed his
amendment to provide that the bonds
should not continue longer than thirty
years. This proposition received put
three votes, those Of Messrs. IarSaey q
Missouri, Montgomery Of AenfucKy, aha
Cochran of New York, al democrats.
Mr.. Wilson, the Chairman OF tne eoils-
r,;ttae opposed II. and the Republicans
did not vote A "a . !, :. - ,,.s,,
yesterday by Mr. Bryan el Il ~ ~; 81 "a g.