The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1895-03-06
G0RMAN'S FUTILE FIGHT.
TO AUTHORIZE TRElSSUE OF TREAS
URY CERTIFICATES.

The Senate Irdisposed to Prevent the Is
sue of Bonds in that way-The Silve
Question Will Not Dawn-Some Interest
ing Figures.
WASHINGTON, Feb. 27.-The Senate
spent five hours today in debate OF
the amendment to the suudry civi
appropriation bill, reported from the
committee on appropriations, provid
ing for an issue Of 500, 100000 certif
Gates of Indebtedness, bearing 8 pc,
cent. interest, to meet the defciencie!
In the treasury, and also requiring
future issues Of bonds to be offered te
the public for at least twenty days.
Senator German, Democrat, of Mary
land, who was recognized as the re
sponsible author of the amendment
spoke for over an hour in advocacy ot
it, showing the probable needs of the
treasury during the fiscal year, and
declaring that the Secretary of the
Treasury was entirely mistaken in his
estimates. The antagonists of the
amendment were all found on the De.
mocratic side of the chamber, in the
persons OF. Senators Hill, Mills, Voor.
hees and Villas, which was, perhaps.
the cause of Senator Germans subse,
quent allusion to sudden conversions
such as were read of in Scripture. .
The supporters of the amendment
were on the Republican side. and In
cluded Senators Sherman and Allison.
Finally, as it was clear to German and
all other Senators that the amendment
If held to be in order-would be de-
/, bated till the 4th of March next. Sena-
tor German withdrew the amendment,
and the appropriation bill was then
offered and agreed to. Unanimous
consent was given to have final vote
taken on the bill at 8 P. NJ tomorrow.
a night session was thereby avoided,
and the Senate at $50 adjourned until
tomorrow at Il A. NJ.
Senator German said that if relief
was to be given to the treasury, If au-
thority was to be given to issue cerM
icates of Indebtedness in order to
maintain the credit of the Govern
ment, the only possible way in which
it could be given was on an approprla-
ton bill He regretted exceedingly
that it had become the duty of any
Senator to inaugurate such PROPOSE
ton. He regretted exceedingly that
It had not reached the Senate from the
House as q separate measure early ln
the session when it could have been
deliberately entered upon and proper
ly discussed. Two years ago this iden-
teal question of order had been before
the Senate and then it was held by a
vote of 2S to Is that the amendment
was perfectly legitimate and perfectly
proper.
Senator German had no desire, he
said, to 6etain the Senate if vote
could be come to at tonce, but the COM
mittee on appropriations had request
ed him to state frankly, without re-
fectng on anybody, what the neces-
sites Of the case were. This was the
question before the Senate. The cues
ton was, rs the treasury IN such
Condition that it can meet the wants
of the Government under present laws
Are the revenues of the Government
up to this hour Cunder our revenue
laws sufficient to meet the annual ap-
preparations made by Congress and
the permanent appropriations If it
shall appear from the official reports
of the treasury that we have appro-
priated more money than the receipts.
then I will submit to the Senate that
we cannot afford to adjourn until pro-
vision shall be made to meet that de-
fciency unless Congress desires the
issue of per cent. bonds running
thirty years or 5 per cent bonds run
ming ten years, to oe sold to meet It,"
Senator German said that the answer
made by the Secretary of the Treasury
to the resolution of the Senate (as to
the condition of the treasury was on
its face misleading. 1t had been got
up by clerks and bookkeepers, and
had not bad the close inspection of the
Secretary. From that answer, Senator
German said one might draw the con-
clusion that there was sufficient
amount provided to meet the demands
of the treasury. He would, however,
give to the Senate the exact condition
of the treasury. There was in the
treasury, he said, on the 1st Of July,
1890, $S9, 993, ,1O4. Between that time
and the 31st Of December, 1894, the
treasury receipts except from bonds
Were s., $50, ,4S0, 365. The expenditures
during the same period (that is, the
payments out of the treasury had
been 81, 7S7, ,290, $50, showing that the
expenditures had been SAG, 100000
more than the receipts.
How was the deficiency made upW
Senator asked.
From the proceeds of the sale of
bonds" Senator German answered.
esNow the question arises whether
that condition of affairs VIII continue
from now on during the next year.
The Secretary of the Treasury, Sena-
tor German continued, in his answer
to the Senate has said that during this
calendar year 1895 he viii have reve-
niue enough to meet the expenditures
softhe Government. That is mislead-
nsg. I shall demonstrate, I think,
that she Secretary of the Treasury is
entirely mistaken in that statement,
and with all the revenues he Will get
this year he will have deficiency of
over $50, 600, 900 for the calendar year
and deficiency of $50, 900, 900 for the
fiscal year ending June 80, 1895. It is
not wise for Congress to adjourn leav-
ing the treasury department with the
open declaration made by the Presi-
dent of the United States that in an
emergency he will continue to sell
bonds. That is too expensive. It is
piling up public debt in a form that is
distasteful to the people Of this coun-
try. do not crlticise the President
Tor his action in the past. If Congress
refuses or fails to provide sufficient
money otherwise then, under the con-
struction Of the law given by the treas
ury department and the President,
(which construction, think, is not
warranted the responsibility will be
upon u.s. I want to have that policy