The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-12-28


/ WASHINGTON, Dec. 27.-The House
today entered upon the consideration
of the bond bill. The bill aroused the
united opposition of the Democrats
and POpulists. the gold Democrats be-
/ ing arrayed against it because they
claimed it did not give the secretary
the authority to issue the gold bonds
with which he desired to replenish the
reserve, and the silver Democrats on
the ground of their general opposition
to bond issues. The latter contended
that the raids on the treasury could be
stopped If the secretary would use his
discretion to redeem notes in silver
when the reserve was threatened.
In the Republican ranks. also. there
developed such bitter opposition TO the
bill as originally drawn and as to the
proposition to force the bill to a vote
today that thc. Republican members
OF the committee on Ways and Means
incorporated in il an amendment
specifically declaring that nothing in
the act should be construed as a
modification or repeal of the act of
1873 for the reissue of the greenbacks
when redeemed and the committee on
rules extended the limit of debate until
tomorrow at o'clock but declined to
give the members of the House an OPP
portunity to offer amendments.
The Feature.
The feature of the day was a strong
speech from Mr.. Johnson (Rep). OF
California. appealing to his Republic
can colleagues TO vote against the bill.
He scored the Republican leaders for
bringing in the bill. He said he had
voted for the revenue measure yester-
day under protest but he refused to
follow them on the present bill Po-
litfcal eXpediency which involved a
surrender of principle, he declared,
would never succeed. The debate ran
far into the night. The principal
speeches were made by Messrs. Ding
ley of Maine, and Grosvenor, of Ohio
Republicans), and Messrs. Turner, of
Georgia, and Patterson, of Tennessee
Democrats).
Mr. Dingley, chairman of the Ways
and Means Committee, reported the
bond bill as amended by the Ways and
Means Committee and it was referred
to the committee of the whole on the
state of the Union.
Mr. Daniel (Rep) of New York,
chairman of the first committee on
elections, as a privileged matter. made
an unanimous report in favor of seat
ing Hugh R. Belknap in place of Law
renee i. Mccain, from the third Illi-
nois district. Mr.. Mccain had decided
that he was not entitled to the seat
and there was therefore no contest
over the matter. The report was
adopted and Mr.. Belknap was sworn
in
Mr.. Henderson. Rep) of Iowa, from
the Committee on Rules then presented
the rule for the consideration of the
bond bill. 1t provided for debate until
10 o'clock tonight with a recess from
8 to s p. m, and its continuance to-
morrow until 3 o'clock, when a vote
should be taken without intervening
motion or amendment separately.
Mr.. Crisp, (Dem.) of Georgia, opposed
the adoption of the rule.
When the twenty minutes allowed
the Democratic side had been con-
Mr. Henderson. who was in
charge of the rule. without making any
reply to the criticisms from the other
side. demanded a vote on the adoption
Of the rule, which was taken by yeas
and nays.
The rule was adopted 195-1O1. 1t was
not a strict party vote. The POpulists
voted with the Democrats against it's
adoption and the following Republic
cans voted in opposition to the ma
iority of their party: Baker. New
Connolly, Illinois; Dayton,
West Virginia; Huling, West Virginia;
Kansas; Linney. North
Carolina: Mccormick. New York:
Shafroth, Colorado; Pearson. North
Carolina; MondelI, Wyoming, and Mil
er. Kansas
The Bond Bill.
The bond bill was then laid before
the House and Mr.. Dingley opened the
debate in favor of its adoption. He ex-
planned the bill, saying that as plain
business proposition the secretary
should have the power to float 3 per
cent bonds.
The bill also provides that these
bonds should first be offered to the peo-
pie of the United States. and Mr.. Ding
ley expressed no doubt that the peo-
Die from the Atlantic to the Pacific
would respond and oversubscribe any
ssue advertised for.
Mr.. Dingley stated that the amend
nent specifically stated that nothing
N this act should be construed to re-
peal or modify the act of 1878 for the
reissue of redeemed greenbacks.
What will become of the greenbacks
redeemed by the sale of bonds under
Jhe aet?" asked Mr.. Marsh Ciep- I'D
''They will be used, replied Mr.. Ding
ey, '-aS they were used up to 1893, in
iischarging the interest bearing obi
cations. But in case of a run on the
,reas1rv they could be held in the
treasury temporarily for its protection
When the exigency passed. however,
.hey would under this act be paid out
" applied to the public debt.
Mr.. Dingley declared that the propo-
;itl1ons contained in the bills were sin
RE. and should not be clouded with a
discussion of the silver or other ques-
ions.
Mr.. Dingley, in answer to many ques-
ions. claimed a per cent bond would
70 taken by. the people much more
r1icklv than a 4 per cent bond on a
Der cent basis. He said the people,
& a. rule, were not disposed to pay
premiums.
Mr.. Turner, of Georgia, opened for
he minority. He contended that the
ault did not lie in any deficiency in
he revenues. but in the existence OF
Wis in our financial system for which
he Democratic party was in no wise
esponsible. The fundamental evil was
he existence in our currency system
f the enormous mass of uncovered
aper money which the supreme court
ad held to be valid. He charged the
with shifting their posi-
ion on the currency question as they
ad yesterday on the tariff question
lie pointed out how the Republicans
n the past had demonetized silver and
ad passed an act for the resumption