Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1895-01-30
Manderaon's Remedy for Our Fl
nanc.al Troubles.
COIN SILVER AT SIXTEEN TO ONE
To the Capacity of the Mints One of the
Provisions.
The senate Committee Tie on sii-
ver-Thc House banking commit-
tee Making Good ProEress-Debate
on the Sugar Dinerentinl.

Washington. Jan. 2s.-The oreden-
tails OF Mr.. cullom qn) for the
term beginning March next were pre-
scented to the senate today by his col
league. Mr.. Palmer,
The credentials of William II. Sewell
OF New Jersey were presented by Mr..
Mcpherson. who VIII be succeeded by
Mr. Sewell.
Mr., Hill Dem) OF New York
presented resolution from the New
York chamber Of commerce, passed
with but one dissenting vote, heartily
approving the financial course OF the
president. as given in his message yes
terday, and urging congress TO aid In
sustaining the governments integrity
and in meeting the emergency by m
Issue of bonds as suggested by the
executive. The resolution adds that
while monetary reform is requisite, yet
It should not be undertaken until
recommended by n thoroughly quail
ned commission.
Mr., Voorhees,. from the committee on
finance presented compilation of all
laws bearing on the Issue OF paper
money. 1t was ordered printed as
part of the financial literature now
being prepared.
The financial emergency came up,
when 'Air. Henderson Qaep) OF
Nebraska presented resolution on
the subject. He prefaced 1T by stating
that some compromise was essential.
f mn IA. n N
iiicting views, giving and taking.
The resolution directs the COMM zee
I on finance to prepare measure nav
ing the following essential teatu.es;
/. The secretary OF the treasury to
maintain a reserve fund of s200,OOOOOO
I gold and $500, 100000 silver.
2. An issue OF bonds payable In
either gold or silver at the option of
the holder for the maintenance OF the
reserve.
3. Outstanding legal tender notes TO
be redeemed In gold or silver at the
option of the holder and not relssued.
4, For the next nve years gold % lie
eNchangeable for silver and silver CA
changeable for gold.
8. National banks to be authorized
to issue the foregoing bonds as a basis
for issuing notes and the tax ON notes
| TO be removed,
4, 6, Import duties from countries raw
ing the gold standard TO be payable in
gold, and from countries havmg ne
silver standard to be payable la either
gold or silver at the option Of the i'm
porter.
4 :, Authorize the coinage OF silver and
gold at IA ratio OF l6 to | to the capac-
ity OF the mlnts.
The foregoing resolution, coming
from a Republican senator, including
concession TO silver. attracted the
closest attention, Mr., Henderson
asked the immediate consideration Of
the resolution.
Mr.. Teller said this document was
rather obscured by the lecture the
president had read to congresi,
III" continued Mr.. Teller with great
emphasis, I'VE had presieut who
would take twelve men In room.
twelve men who are known and TCuok-
nized in financial circles. and say to
them, Gentlemen, the government VIII
make its payements IN silver. Now II
you want panic. have II, there would
be no panic. New York does not want
a panic. The run on gold would stop
in an hour"
Mr.. Manderson's resolution was re-
ferred to the finance committee. 10 lac
considered together with other plans
Mr. Frye offered resolution. which
was agreed to, calling for the corxe-
spondence with the chief Justice OF So
moa and with tho United States consul
there.
Mr.. Allison made another brief con-
trlbutlon to the financial question by
offering a resolution calling on the
secretary of the treasury TO inform the
senate what portion of the 100000 re-
serve, so-calied, has been used for
meeting current expenses, and what
part OF the proceeds of recent bond
! sales have been similarly used. The
resolution went over, on objection by
Mr.. Vest.
Mr.. Butler CDem) Of South Carolina
: gave notice that he would call up the
polling bill during the morning hour
tomorrow, aftfr the pending bill for
7 District II Columbia sewer bonds was
: disposed Of The bankruptcy bill was
then taken up. and Mr. Mitchell Rep.l
of oregon offered a substitute on the
Z lines OF the old Torrey bankruptcy bill
! with some notifications.
8 Mr.. Plat (Repl OF Connecticut and
3. Mr. White Dem) of California spok,
on the question OF conflict between tht
proposed national bankruptcy law anc
the insolvency laws OF the variouG
: states.
Mr.. George offered an amendment
: that national law should not suspend
} or repeal state lnsolvent laws, eXcep
= so far as the latter were In direct con
e fIct with the national law. The amend
Z ment also provided that pending stat,
o cases should proceed to conclusion.
s in progress when the measure was lAit
aside.
e An invitation was received from tn
/ secretary Of war asking the senate 4
r participate in the dedicatory ceremo
/, MES at the Chickamauga and Chatta
5 nooga National park. on September i
/ next.
The credentials were presented fo
two new senators from Wyoming.
d. Clark, for the unexpired term BEGIN
u ming March last and Francis r.. War
4 rem. to succeed Mr.. Carey.
a The bill 10 incorporate me N~"ona
Il Association OF Florists was passed
y Mr.. German secured the passage o
2 the bill known as the Commercial
2 travellers bill" IT amends the inter
n state commerce law so as 10 permit
the GALE OF interchangeable mileag'
n tickets TO commercial travellers.
: At b:25 o'clock the senate adjourned
- For the Bounty.