St. Paul daily globe., 1895-12-28
NOT THE RIGHTKIND
GOOD REASONS FOR OPPOSITION TO
THE REPUBLICAN BOND
aI. BILL.
REPUBLICANS ARE DIVIDED.
RANKS AGAINST THE MEAS
UHE.
ONE DAY MoRE5 FOR DEBATE.
Modification of the Bill to Pr0vide
Against the Redemption of
Green baclxs.

Against the Redemption of
GEeenBacl>s.
II :
WASHINGTON, Dec. 2T.-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-
arrayed against it because they
claimed it didInot give the secretarJ
the authority to issue gold bonds with
which he desired to replenish the re
serve, and the silver Democrats OF
the ground of their general opposition
: to bond issues. The latter c3ntended
THAT the raids on the treasury lfcouEd
Ibe stopped If the secretary would use
his discretion to redeem notes in sill
yer when the reserve was Threatened.
In Republican ranks also there fdeEei
eped such bitter opposition to the bill
as originally drawn, and to the prepo
sition to force the bill to a vote today.
that the Republican members of the
committee on ways and means incor-
porated in it an amendment specific
ally declaring that nothing in the act
or repeal of the act of 1873 for the re-
issue of the greenbacks when re-
deemed. The committee On rules also
extended the limit Of debate until to-
morrow at 3 o'clock, but declined to
give the members of the house cp-
portunity to Offer amendments. The
feature Of the day was Q strong speech
from Mr.. Johnson (Rep., Cal.) appeal
ing to his Republican 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 yesterday under pro-
test, but he refused to follow them
on the present bill. Political expediency
which involved a surrender of princi-
pie he declared would never succeed.
The debate ran far into the night.
The principal speeches were made by
Messrs. Warner (Ga.}, and Patterson
(Tenn.), Democrats.
EXTENDING, DEBATE.
AS soon as the journal was read the
ways and means committee reported
the amended bill, ahd it was referred
to the committee Of the whole. The
first committee on elections reported
in favor of seating cBelknap from the
Third Illinois district, McGann having
given up the contest This was adopted,
and Mr.. Belknap was sworn in.
The committee on rules then pre-
sented the rule providing for vote
on the bond bill at p. m. tomorrow.
Mr. Crisp opposed the adoption Of the
rule. He said that yesterday a tariff
bill, the exact effect of which on in
dustries and revenues no one knew,
was rushed through the house. Today
it had been proposed to rush through
bond bill in the same summary man
ner, but nlurnlurings of 6 Republican
discomfort forced the autocrat of the
house and .so-called leaders to yield a
little more time.
Mr. Bailey CTex.) admitted there had
been great abuse of the privileges
Of debate. but said the country would
no more tolerate precipitate haste
than undue delay.
Mr.. McMillin (Tenn) criticised the
leaders for not allowing even their
Republican associates to offer amend
mentS.
Without replying to these structures
Mr.. Henderson Qo.), in charge Of the
rules, demanded the vote on adoption,
which resulted, 1876 ayes, 101 nays.
The Populists voted with the Demo-
Gratis against adoption. 1t was not a
strict party vote, a number of Repub
licans voting against adoption, these
being: Baker IN. -H), Connolly QH),
Dayton CIV. Va.), Huling CIV. Va),
Kirkpatrick Kan.), Linney On. o., Nc
Cormick On. V, Shafroth (Col.), Par
son IN. c., Monden Wyo.) and Miller
Kan.).
The bond bill was then laid before the
house and Mr.. Dingley opened the de-
bate in favor of it's adoption. He ex-
planned the bill, saying that as plain
business proposition the secretary
should have the power to float per
cent bonds. The bill also provided that
these bonds should first be offered to
the people Of the United States, and
Mr.. Dingley expressed no doubt that
the people, from the Atlantic to the
Pacific, would respond and over-sub-
scribe any issue advertised for. He
said that the amendment specifically
stated that nothing in this act should
be construed to repeal or modify the
act of 1878 for the reissue of redeemed
greenbacks.
THE GREENBACKS.
What will become of the greenbacks
redeemed by the sale of bonds under
the act?" asked Mr.. Marsh Rep.,
Ill). II j.
'They will be used,'' replied Mr.. Ding
ley, "as they were used up to 1893, in
discharging our interest-bearing obli-
cations; but in case of a run on the
treasury they could be held in the treas
When the exigency9 passed, however,
they would under this act be paid out
or applied to the public debt i-,@-.s,s
Mr.. Dingley declared that the propo-
sitions contained In the bill were single
and could not be clouded with discus
sion Of the silver or other collateral
tions he claimed that 8 per cent bond
would be taken by the people much
more quickly than per cent bond on
as a rule were not disposed to pay
premiums.
Mr.. Turner Oem., Ga.) opened for the
minority. He contended that the fault
did not lie in any deficiency in the rev.
enues, but in the existence Of evil in
our financial system, for which the
Democratic party was in no wise re-
sponsible. The fundamental evil was
the existence in our currency system
Of the enormous mass Of uncovered pa
- = - ------ :