The daily morning journal and courier., 1895-01-18
IS TO MEET DEFICIENCIES
MR. PUGH OFFERS A NEW FINAN
 CIAL BILL IN THE SENATE.


 Interesting Debate.
 Washington, Jan. 17.-Mr. Pugh, dem' of Alabama, introduced a bill and sald that he would read it himself, for the ln- formation of the senate. He proceeded to do so. The title of the bill Is '"To meet deficiencies in the revenue in the treasury of the United States; to reg ulate the redemption of treasury and coin notes of the United States; to re- store silver to coinage; to amend the national banking and currency laws, and for other purposes"
 The first section authorizes, directs and requires the issue at once of not ex- ceeding $10O, 1000, ,000 of legal tender treas ury notes to meet deficiencies in the revenue. Other sections make those and other treasury notes heretofore is sued redeemable in gold and silver standard coin; the coinage of the silver bullion now in the treasury; such coin to be used in the payment of the public expenditures; the payment for silver bullion deposited in hints by It's owner in certificates to the amount of its market value; the reserve of $10O, 100000 in equal amounts of gold and silver; and the receipts of import duties one half in gold and the other half in currency.
 As soon as MT. Pugh had finished reading the bill MT. Hill, dem. of New York, asked him sarcastically whether he asked for its immediate passage.
 That question:" MT. Pugh retorted with much bitterness, Ifs of character with the senator's views on the great question now absorbing public atten- ton. have got no response to make to such an inquiry"
 Tn framing this bill," MT Pugh con- tinued, 'I have made many concessions of my own opinion, long standing opin- ion, because I realize, as doubtless all of us realize, the very great importance of some. legislation before the termina tion of this congress- know that sen- ators can criticise the provisions of this bill We have been tearing down until we have about torn this country to pieces. It is time that we should em- ploy our capacity, our ability and our energy in framing some legislation af- fording some relief to the country.
 
 "The gold anaconda has got this country in it's coils. The country is dying of congestion; of currency con traction Her industrial energies are paralyzed Is this senate prepared to terminate the existence of the Fifty third congress in disgrace? If you go home and tell your people that nothing could be done they will ask if you made any effort to do anything"
 Mr. Cockrell, dem. of Missouri-Was no effort made during the three or four months of 1898?
 Mir. Pugh-Whatever failures there may have been in the past they furnish TO excuse for neglect of duty on this occasion.
 MT, Pugh then went on to recapi- tdlate tha provisions of the various sections of the bill. He said he thought the provisions as to silver ought to satisfy tha friends of silver. He had been dis posed to make the coinage of silver free and unlimited; but he had linn ited it to the product of American mines. As to the repeal of the tax on state bank circulation, he realized it's impracticability and said that the
 
 more the chance for the repeal of the tax was diminished.
 As to the national banking system it could not be abolished and the attempt t. abolish it was a hopeless task, He begged the finance commit tee to report some bill for the c9n- sideration of the senate He had great confidence in the ability and wis dom of that committee. Take up," he said this question and act upon it and make a report"
 "Tf we do not pass some law for the relief of the people at this ses- sion, the difficulty of doing so in the future increases. I have offered this scheme $ q compromise I do not claim any great merit for it--certainly rot perfection. But it seems to me that tt meets present conditions and will relieve the country"
 Mir Allen, pop, of Nebraska, asked MT. Hugh whether his bill met the approval Of the treasury department and of the administration.
 Mir Pugh, in response, referred to the presidents statement to the effect that if the two houses were not pre- Pebi Ni ~ ti'PiCNO hiiO plehll OL lllG pGClG- tary of the treasury they should recom- mend some other plan. Now" MT Pugh continued, "the president has discharstc his duty. Let us discharge ours, If we adjourn without doing so, we confess our inability and will be as idiots, Let the senate take the responsibility and let every senator take the responsibility of de- feating legislation favored by the ma jority."
 MT. Allison, rep, of Iowa, called for the reading of the bill at the clerks desk and after 1t was so read it was referred to the finance committee.
 Mir, sherman, rep, of Ohio, also in- Dill to provide for a tenn porary deficiency in the revenue, which was read III full and referred to the finance committee.
 The pension bill was then taken up and speeches were made by MT. Gallin- ger, rep. of New Hampshire, and MT. rep, of Connecticut, in criticism of the spirit and methods of the pen sion office and by MT. Palmer, dem. of Illinois, in defense of that office.
 The bill appropriates $140,0O0,00O for pensions, $S00,000 for examining sur geons; $72,OOO for eighteen agents, and