The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-01-12

sides to the controversy, the conclusion
would seem to he that. income tax or no
income tax, there is to be no permanent
which the country is in. so long as the
present laws remain unchanged. The sill
yer Senators, so-called. insisted all through
the debate over the repeal of the Sherman
act that unless other financial legislation
took the place of the Sherman act dire
distress would come to the country. Inc
distinguished Senator from Indiana mir.
Voorhees, said during that debate that
the repeal, but that repeal Would lie SUP
pieenented by legislation in behalf of sil-
YER, Other distinguished advocates of re-
peal stated the same thing. Well. Mr..
President. we have been. waiting fifteen
months for this proposed legislation, but
nothing has been offered. The longer we
wait the worse off the country gets.
1T does not take much of a financier or
an adept in figures to arrive at the con.
clusion that you cannot redeem Sl,143.15o.Sso
with S1o0, 000. 900. OF course. 1 do not adj
init, in fact, | insist that the government
ume of paper money with gold, but the adj
ministration has insisted and still insists
that no matter what sort of note it is;
or what is written on it, it must be paid
in gold IL the owner of 1t demands gold.
There have been two bond issues of $4,000
900 each. Gold has been withdrawn from
the banks to buy these bonds. AS soon as
the gold reached the treasury it. COM
menced to dwlndle away. being exchanged
presented for This process can
and win go on just SO long as the govern
AaANLs iSSoS@ Wins diia COCNIiA Ao- PtH
with gold. The only result is to burden
the people with an increasing interest,"
to enlarge the currency without broaden
ing the basis of money of ultimate re-
demption will certainly add to our com
plications. That has been the chief fault
with all bills with the reformation of our
currency system which have been formu-
lated up to this time during this session
Mr.. Quay moved to postpone further con-
sideration of the bill and amendments until
Hnh EiC nfi ryoO nfn nd-1 IN a ,
Mr.. Quay casting the yea vote, and Mr.. Hill
with pleasure to Mr.. Hills speech and
agreed with him in the main that the in
come tax was inquisitorial and unjust, and
did not agree with Mr.. Hill, however, in
supposing that the amendment offered by
zens the right to sue in the courts If he
considered the tax unjust or unconstitu-
t on;astj he the 5h5ou rIabt every ya; citizen en- had ast the
by a suit at law in the courts. Mr.. Sher-
man argued against the right of the Sem
of taxes. The House of Representatives
was supreme On that subject. The Senate
had no moral right to refuse the appropria-
Congress was bound to furnish the money
to carry the law into effect. The best way
to reform the law was to enforce it. If
the Senate failed to appropriate the money
necessary, to carry the law into effect Il
the Constitution to attempt to change the
recent tariff law. There was no justif "a
ton in withholding the appropriations; sch
a course was destructive of forms of les rs
lation. GIN.
The discussion was further participated
in by Messrs. Mitchell, Allison and White.
Mr.. Mcpherson introduced a bill on tire
currency question. which Mr.. Aldrich asked
to have read in full. Objection was made.
and Mr.. Mcpherson withdrew the bill. Later
leave was given to print in the Record the
bill which Mr.. Mcpherson desired to in
troduce, and also that presented by Mr..
Vest to-day on the same question. The
Senate then. at $40 p. M, went into ex-
ecutive session. and at go adjourned.