Connecticut western news., 1895-02-14
WASHINGTON NOTES.
THE PRESIDENT ARRANeEs TO BUY
 GOLD wITA BONDS.
The House Defeats the Administration Gold Bond Hill by Vote of Ia4 to i0i, and All Hope of Financial Legislation This Session Is Killed.

Bond Hill by Vote of t34 to I0i, and All
 Hope of Financial Legisiation This Session
 Is Killed.
 WASHINGTON. Eco 1a-The last hope of financial legislation for the relief of the treasury at the present session of congress went by the boards when the house, by s vote of l94 to 16i, rejected the adminis- tration bill to authorize an issue of t50o,- 000, 900 gold bonds The bill was beaten be'ore 1t reached its last parliamentary stage.
 This resub was reached Thursday. Feb :. after three days If spirited debate and at the end of a seven hour session. From Il a. m. until 3:30 p m, when tho bill with the pending substitutes, was report ed to the house from the committee of the whole, amendments were offered in rapid succession, most of which were voted down ss fass as they were offered Many of them were designed to load down the bill, and the votes thereon were in no sense test votes
 On Friday, Feb 8, the president sont to congress a special message concerning the bond Issue.
 The message was as follows: ITO tho Congress of the United States,
 Since my recent communication to the congress calling attention to our financial condition and suggesting Legislation which I deemed essential to our national welfare and credit the anxiety and apprehension then existing in business circles have con. tinued.
 "As precaution therefore against the failure of timely legislative aid through congressional action cautious preparations have been pending to employ to the best possible advantage in default of better means such executive authority as may, without additional legislation, be exes- cised for the purpose of re-enforcing and maintaining in our treasury an adequate and safe gold reserve
 "In tho Judgment of those especially charged with this responsibility, the busl ness situation Is SO critical and tho legis. lative situation is SO unpromising with the omission thus far on the part of the oon- RIcss to beneficially enlarge tho powers of the secretary of the treasury in the prom ises as to enjoin immediate executive ao- ton with the facilities now at hand.
 Bonds For so2, ,ooo. 900.
 "There.ore in pursuance of section 87Oo of the Revised Statutes, tho details of an arrangement have this day been concluded with parties abundantly able to fulhll their undertaking whereby bonds of the United States authorized under tho act of July I4. 1875. payable in coin 30 years after their date. with interest at the rate of DOT cent pcr annum. to the amount of n little less than t62. 400, 000 arc to be is sued for the purchase Of gold coin amount ing to a sum slightly In excess of t6a. 900. |. 900 to loo delivered to the treasury Of the United States, which sum, added to the gold now held in our reserve. will 30 re- X q A.. something more than sl00. 900, 900. such a premium Is to be allowed to the govern mcnt upon the bonds as to fix the rate of interest upon the amount of gold realized at ga per cent per nnnum. At least one. half of the gold to he obtained is so bc sup piled from abroad, which Is a very impor- tant and favorable feature of the transac- ton. The privilege is especially reserved 10 the government to substitute at par with In ten days from this date in lieu of the 1 per cent bonds other bonds in terms pay. able in gold and hearing only DOT cent intercst if the issue of the same should in the meantime be authorized by the con gross.
 "I have only to add that in my opinion the transaction herein detailed for the In. formation of congress promises better re-
 
 the direction of effectively adding to our gold reserve through the salo of bonds. and l believe 1t will tend as far as such action can In present circumstances to meet the determination expressed in the law repeal ing the silver purchasing clause of the act of July IA. 1850, and that in the language of such repeating act the arrangement made will aid our efforts to insure the maintenance Of the parity in value of the coins of the two morals and the olual pow CT Of every dollar at all times in the mar kets and In the payment of debts GROVER CLEvKLAED." Y On Friday, Feb X, interest in the senate centered in tho two messages from | the president tho first on finance and the second transmitting Minister Willis latest dispatch from Hawaii stating that two | American citi ems were under sentence of death for participation in the royalist up- rising The closest atten ton was given to 1 both messages. and they were the main | topics of comment throughout the de ate
 The Hawaiian dispatches had opportune bearing on the sub. ect under discussion- | the building Of cable to Hawaii-aDd Mir. Hale of Maino and Mir. Morgan of 1 Alabama pointed out that 1t showed the | imperative necd of quick communication | by means of cable with Hawaii On Monday, Fob II, the fnancial question again came forward in the scn- ate when Mir. Hill Dem N. Y.) present- ed resolution defining the policy of the government to pay its bonds in gold In case the party etween gold and silver could not be successfully maintained The president sept to the senate doou' ments furnishing information relating 10 | the enforcement Of the regulations respect Ing fur seals adopted by the governments of tho United States and Great Britain in accordance with the decision of the Paris tribunal of arbitration.
 On Tuesday, Feb. l2, the senate devoted mu n of the day to passing private pen sion bi Is and to debating the postofiice appropr iation bill Tho finance committee reported n free coinage bill. Tho house passed tho legislative, executive and judi. ciAl appropriation LII
 Mgr. May Dead.
 NEw YORK. Feb l2.-Mgr. and Vicar ] General May died at the parochial house al oinlng the Church of the Most Holy Trinity In Brooklyn. of which he was the pastor for more than 3o years.