The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1895-12-28
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dealing with the situation; patriotism and
duty were the two words which alone
could fitly describe the inspiration of
the hour.
Mr. Parker Rep., N. - said the House
was called upon to answer yes or no to
two simple questions: % Shall we pro-
vide revenue to meet the expenditures
of the government who could say mo"
to that, he said.
q Shall we lower the rate of interest
on bonds, the issue of which was author
lied by the act of 1873, and open the books
for their subscription to the people of
the United States? What need of amend
ment to these two simple questions? ?
They would only tend to confuse the
efforts making to afford direct relife to
the necessities of the government.
Similar support to the bill was given
by Mr.. Stewart (Rep., N. J.)
Mr.. McLaurfn Oem., S. CD said he
would oppose the bill because it would
not only. increase the burdens of the
Treasury, but legalize a series of i'm
proper and unfounded assumptions by
the Secretary of the Treasury. The bill
should clearly and explicitly state the
purposes of it's provisions SO that the
people might know the intention of Con-
gress. He was opposed t the bill, said
Mr.. McLaurin, fr the further reason
that he believed rather in restricting
than extending the discretionary forms
of the Treasury Department.
All sufficient relief could be afforded,
said he, if the Secretary would obey
the law and establish an American sys-
tenn of finance, treating all the obliga-
tions of the Government alike and in
accordance with heir plain terms.
Mr.. Cannon (Rep.. Ill.) said that the
resumption act of 1875 was a Republican
measure passed in time of peace, auth
orizing, he would say to the gentleman
from California (Mr Johnson), the is
sue of bonds Under that law Secretary
Sherman sold ninety-five millions of
bonds and stored the gold with which
to resume specie payments in 1878.
From that time until 1892, when Cleve-
land came in the second time, there was
no necessity for our issue of bonds. There
was never an hour in that period when
the revenues were not sufficient to meet
the. expenditures. In that time the in
terest bearing debt was increased $1,200,
900, 600, and the annual interest charge
reduced from S31s to % millions. The
gentleman from South Carolina, mem
Der of the Committee on Ways and
Means, said he would take from the Sec
retary of the Treasury the authority
he had. The Secretary of the Treasury
could not have too much power. But
it should be exercised under conditions
that lead to prosperity and not to ed
versity.
1t is expected that when the House ad-
journs today it will be to take three day
recesses until Monday week. Several
score of the Republican members who
went home some days ago, in the belief
that Congress would adjourn for the
holiday recess, were hastily recalled to
Washington in view of the unexpected
reporting of the tariff and bond bills.
Many of these gentlemen desire now to
spend the next week among their con-
stituents and a number of other are
equally anxious to leave the city for a
short period at least. While an adjourn
ment of the two Houses is not likely,
there will probably be no further session
of the House for eight days after today.
The House Committee on Naval At
fairs today ordered favorable report
on the Senate joint resolution author
izing the Secretary of the. Navy to ac-
meet contract requirements on her
trial trip. Arrangements have been made
to pass the resolution today. Mr.. Cum
rnir1gs of New York has charge of it.