The Portland daily press., 1895-01-30
bill passed, 239 yeas, to 81 nays. The
House then adjourned.
IN THE SENATE.

IN THE SENATE.
Plans Offered for the Relief of the Treas
| ury--The Commercial Travellers Act
| Passed.
| Washington, January 20. In the SEN
ate today, Mr.. Manderson offered reso-
| luton directing the finance committee
to report bill for the relief of the treas
ury. Mr.. Teller declared the only real,
sensible way of obtaining gold was to
buy it with the products OF the counry.
The difficulty about that was that when
the county was on gold basis the
prices of all products were lowere d.
Three cent cotton and forty cent wheat,
in the ports of Europe, would bring gold
to this country. Could the American
people afford to buy gold at such price?
II did not believe so. He denied there
was any obligation on the part OF tne
government to furnish gold to the gold
exporters Tree of charge, nor was there,
he said, any obligation on the United
States government to furnish gold for
export. The treasury ought to adopt
the policyof the Bank Of France. and
pay it's notes in the coin most conven-
lent to it, Why, he asked, should the
treasury pay in gold when the law re-
served to it the right to pay in silver.
The treasury had now i'll it's Golfers what
would make S175. .000, 900 of silver coins,
| which could be paid for its Indebtedness
without the violation of the sancuity of
the obligation. 1t was said there would
| be panic if parity between gold and
| silver was discovered.
The President, in his message yester-
day, deliberately proposed TO destroy
that parity by law proposing that
not pay duties on imports. Mr.. Teller
argued that if Congress declared gold
should not be paid on governments obl1-
CATIONS, the gold run ou the treasury
would cease. If the administration of
the public treasury, he said, were in the
hands of practical business men, who
were not .teTrorized by the threats of sill
yer basis, and not terrorized by the
threat of panic to be thrust upon the
country, there would be no difficulty on
the finance question. He thought tnere
was crisis on the country, but it was
not crisis which threatened 1t on ac-
count OF the government paying notes
ia silver. Fl did not believe the accum-
ulated wealth of New York would force
panic on the country. 1t could not
afford that. No people were in greater
danger from panic than the people of
New.York. There will be no financial
legieslation at this session (Mr. Teller de-
clar d emphatically) unless 1T is founded
on true financial principles, and 1T might
just as well be understood that senators
are not to be taken off their feet by
howl made by the public press or GER
tain senators. There were three thou
sand million dollars of American secur-
| tiles eld in Europe, Mr.. Teller said. 1t
they were sent to- the United States, they
would be sent, not to be collected, but
to be sold on the market, and if they
were sold at depreciation, the loss would
| be on the part of foreign sellers. not of
American purchasers. AS to the sup
plying of gold for export, Mr.. Teller de-
| clared the treasury should say to ex-
porters i" We have the choice to pay
these notes in gold or silver, and it you
want gold for export you cannot have IT,"
| At the close Of Mr.. Teller's remarks,
| Mr. Manderson's resolution was referred
to the finance committee.
OTHER BUSINESS.
Mr.. Chandler of New Hampshire
offered resolution that was referred to
the committee on interstate commerce,
recurring q statement to be furnished
showing the capitalization of all eight
principal railroad linesstransporting pas
sengers and merchandise between Chi
cago and the tlantic seaboard, and the
proper tion such capitalization bears to
the total capitalization of all railroads
of the United States, the aggregate gross
and net iacome of the eight lines for the
last year, and the corresponding income
of ali railroads of the United States.
Mr.. Chandler said the information was
necessary to understand the eHec5 OF Jne
House pooling bill.
Mr. Frye OF Maine offered a resolution
that was agreed to, requesting the Presi-
dent to to transmit all communications
touching Samoa, received since the rat
kiiication of the Berlin treaty from Judge
Henry C. Ides and ex-Consul Black
lock.
Mr.. Allison of Iowa offered resolution
which went over, calling on the Secre-
tary of the Treasury for information as
to the proportion of the reserve fund of
hundred millions in the treasury the
first of January, 1898, that has been used
for current expenses and Other purposes
Mr. Butler of South Carolina, chairman
of the committee on interstate commerce
gave notice he would ask to have the
pooling bill taken up tomorrow In the
morning hour. The bankruptcy bill was
taken up as unfinished business, and
Mr.. Mitchell of Oregon, offered as sub
stitute for it the Torrey bill, with lew
notifications.
The substitute and bill itself was read,
and action had seriatim on the various
amendments to the bill reported from
the judiciary committee.
Mr.. George of Mississippi read from
the decisions of the Supreme Court of
the United States and various state
courts to the effect that the national
bankrupt law was suspended, ipse facto,
and all action was under the insolvent
laws of the states. The bill went over
without action. The House bill known
AS the Commercial Travellers Act.n
(allowing the issue of interchangeable
5000 miles railroad mileage tickets), was
passed. The Senate then adjourned.
FAILED TO AGREE.
The Senate Finance Committee Accom-