New-York tribune., 1895-12-28

D!ngley (Rep. Me- soon as the Jourhai nau
been read and various corrections made In the
record of the vote Yesterday on the revenue Dill
Mr. Henderson C2ep Iowa) presented a resolu-
ton from the Committee Rules providing lot
the discussion of the bond bill until O'CLOCK IN 'he
afternoon and at an evening session from ';'V 10
10 o'clock and at 3 O'Clock tomorrow vote on us
passage shall be taken.
Mr.. Crisp (pem, Cal speaking 10 uhe IeSoi"-
ton said he desired again TO call attention to the
improcriety Of the course OF the majority IN ''s
regard and TO appeal TO them, Tor thelr own
sakes 10 proceed with greater caution and deliber-
alton The experience with the two bils ALREADY
reported 10 the House. he said induced them 10
make haste slowly. The bond BILL as originally
prepared had occasoned murnurs ana crN!clsnis
on the Republican side because ii was couched IN
language the effect of which would be to retire the
greenbacks What the Democrats said about II
had no weight. but Republican objection led 10 a
revision Of the b.ll IL had been hurriedly drawn
in the committee room. Objection from the same
source. Mr. Crisp said. had led 10 nodnicalioh
Of the rule proposed yesterday to close debate and
force a vote at o'clock to-day. so that the debate
nad been extended for six hours Tho leaders OF
the House had yielded to that objection. as yield
they must on all such occasions. and MI Crisp
urged upon Republican Representatives VINO were
opposed 10 the bill to make their objections Vaiio
by voting against rule which would deprive them
OF the right Of offering any amendment to the pro-
posed measure
Mr.. Bailey Dem. Tex) sad that while 1t was true
the right Of debate had in the past been sadly
abused, the now pursued by the majority
was worse than the one against which II was pro-
test. for it is dangerous to proceed without de-
bate" Yesterdays outrage of adding SO'WoO~ OF
taxation TO the burdens OF All already too-heaViy
laden people was be accompanied to-day by the
passage of bill TO increase the public debt to such
po.nt that no one within the sound of his voice
probably would live TO see 1t wiped out. He admon-
shed the Republicans that the people would as
surely and effectively rebuke such haste as they
had the il-consdered delay Of preceding Con-
crosses.
Mr.. McMln 0Dem, TENN said he had once read
Of an Indian chief that had very suggestive
nancy Young Man Afraid-of His Horses lie
wondered he sad If that did not describe the condi-
tion Of some OF the leaders of the majority VINO
to be afraid to trust those who had put them-
selves in their control. Thoro no other expana-
ten in MI McAillin's opinion, of the necessity for
adopting a rule which shut out any and all amend
rnents when The Republican majority was more
than Vo-thirds OF the House
The Republicans offered no debate on the reso.u-
tion. and vote by and nays was ordered al the
- c!osc of N,r acMinin remarks. The result Of the
vote vsas aunounced yeas l95, nays l0 So the
% rc.5ltrion was agreed TO.
S5cakcr Reed announced that Mr.. Croft ReD.,
ID Gcs!red to be excused from service on Il Com
mi.tec On Mes and Mining and that in his place
Mr. Hatch Rep.. Ind.) had been appointed.
THE BOND BILL TAKEN Up.
Dingley opened the debate in advocacy of its
passage. His opening remarks were devoted to an
exposition of the provisions of the measure. The
second section. authorizing the issue of S5OOtWO
of certificates of Indebtedness. an application
of the exchcquer bill system to the operations of the
Government. These obligations were to meet tenn
porary deficiencies ony; the proceeds of the bonds
authorized in the first section We're 20 be applied TO
the redemption of grecnbacks and the maintenance
Of the gold reserve only The only new form of obli
mil ny he Mr Dinpley al was
per cent. fve-fifteen-year bond. proposition
In the interest of economy Without this legislation
the Secretary of the Treasury would of necessity be
compelled to issue either tenyear per cent bond
u thirty-year per cent bond AS reasonable
business men. acting a they would in reference
TO their own affairs the Speaker could not how
The members OF the House should could refuse
10 pass the bill. 4 provision in the bill. Mr.
Dingley ssid was that when IL proposed to issue
aonds under its authority they should be first
offered 10 the people of the United States in such
those OF moderate could purchase
In his opinion the people of the United States from
the Atlantic TO the Pacific would promptly and glad
ly ava Themselves Of the privilege of purchase and
thus send into the Treasury millions of gold now
boarded by them. In order that there should be no
misunderstanding regarding the position and in
tention OF the committee TO the retirement of
greenbacks. there had been inserted in the bill the
words. nothing in this shall be construed to
modify or repeal the act entitled an act to forbid
the further retirement of United States legal
tender notes. "
The BILL Mr.. Dinsey. further explained made
two accounts of the moneys received from the sale
Of the two classes Of obligations that there could
be further evading the point, as il had been
evaded in the debate yesterday that money had
been borrowed to meet current expenditures. The
fund held for the redemption of greenbacks will be
held for that purpose alone and not fund be
drawn for ordinary expenses.
Mr. Marsh Q1ep., Il) Interrupted TO ask Mr.
Dngley what would become of the greenbacks re-
deemed by the gold secured from the proposed bond
sale
DISPOSITION OF GREENBAcKs
Mr. Dingiey-Precisely what became of them dur
ing the period from 1884 lS93 when there was no
run upon the Treasury owing to the deficiency of
revenue. They Will be used take up and pay off
the interest bearing Indebtedness Of the Govern
ment.
Mr. Marsh-What is there in this bill that for
bids the Treasury Department from using them Just
they have used them for the last two years and
half?
Mr. Ung.ey-If the second section OF the bill be-
comes law the Treasury can only the proceeds
OF the certificates Of indebtedness TO meet de-
nciencies in OF course IL is the intention
and expectation that there shall be no deficiency
that is not temporary In its nature.
Speaking OF the necessity or desirability of the
certificates OF indebtedness Mr.. Diasley said there
no Government the face of the earth
cept that of the United States which did have
it's statute books a provision for the issue OF
exchequer bills. which these really were. TO meet
accidental or temporary deficiencies in It's revenue
No more fatal policy. he said, could have been de-
Ssed than that which had been followed since 1888
OF allowing the gold 10 fall below the mini
mum OF $l0o00eO.0o0 Had 1t been maintained at
that figure increased many If not most o. the
evils from which the Government and the country
had suffered in these last few years would have
been avoided. The failure to maintain it at or