Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-02-01
HE SAYS THE SENATE WILL MAIN
TAIN THE CoUyTRY.s HONOR.
The Republicans just ms RESPONSE
BILE for the Financial situation ms
the Democrats, and why-Thc
Mnrylander Earnest and FOrciblc.

power under the law to pay them. The
resolution went over until tomorrow
without action. Then the District OF Co
lumbia appropriation bill was brought up
by Mr.. German, with the purpose, as he
afterwards avowed. Of shutting out the
financial topic. but the purpose failed. be
cause the bill led to a discussion late In
the afternoon In which very important
statements were made by Mr.. Allen and
Mr. German. the latter declaring his be-
lief-he might say his knowledge-tnat II
financial relisf were provided I'm no other
way the Senate would before midnight on
the Sd OF March place on an appropriation
bill provision that would save the cOun-
try from impending disaster. 80 that the
honor and credit Of the government should
be MAINTAINED, and that the country would
stand before the world the foremost ma
uon IN the matter OF observing obllga-
tions.
GORMAN "REMINISCENCES.
Mr.. German said that in the last year
OF Mr.. Harrison's Administration the ap'
propriations exceeded by 800 10000 thu
funds In the Treasury, and that bank
ruptcy had only been warded off by post
poning from time TO time appropriations
ior pensions for the navy. for public
buildings. and for rivers and harbors.
President Harrison and his Secretary OF
the Treasury had not hesitated TO say
frankly to senators on both sides OF
the chamber, we are reaching point
OF distress, We have reached point
where We cannot meet our obligations
without the aid OF Congress
Ana they had come to the senate 10
get that aid. But II was In the midst OF
a presidential election. and nobody on
either side thought it wise. proper or
polite TO bring the question up except
TO state the facts. He (Mr. GOrman) haG
then given the warning to the Senate,
and 10 the country that no matter
whether Democratic
power or not there were but two things
to be done-either 10 Increase taxation
or to borrow money by the issue OF
bonds: The presidential election had
passed over, and the Democratic party
had been swept into power.
Then II was. with a greater franknes,
than ever. the Republican President ana
Secretary of the Treasury suggested to
Democratic senators 10 authorize the Is
sue OF 100000 In bonds TO keep the
gold reserve intact And there was put
on an appropriation bill a provision for
the issue Of 100000 In per cent. bonds.
Mr.. Aldrich: Why did not that provision
stay there?
Mr.. German: 1t was not agreed to
elsewhere.
Mr. Aldrich; Why was it not agreed to
elsewhere?
REDUCTION OF TAXATION.
Mr. Gorman: Another body was i'm
bucd with the idea that the government
could be run by reducing taxation. The
fact is that the authority to issue bonds
was refused. a majority of Congress re-
fused to recognize the fact that the
Treasury was in a bad condition. Ana
legislation providing for revenue was
made-whch will be amply sufficient af-
ter 1896. But no provision has been made
by Congress for this condition of affairs,
which existed when they came into
power. We inherited It. 1t was an awful
load. That We have not met IL frankly
by mailing "A temporary provision for
for q mi
has been met In part by the sale OF N00.-
0oO,00 Of bonds. producing Sis 0.0O. Ev-
cry dollar Of that has been used TO pay the
current expenditures Of the government.
save what small amount is now in tn,
Treasury. And the Treasury stands 10,
day with appropriations made by Con-
gress which are demands upon II to the
amount Of over $lW,0c00O more than
there is money in the Treasury TO meet.
1t is a crisis. Ii Is one that will appeal
TO every patriot II must be met. This
government is able to pay every dollar
of its debts I'm the soundest money In the
world. All that ia necessary Is 10 face
the question as patriots and as American
senators. and before we laave here make
provision for the Treasury.
Il believe that this Senate. which has
met every crisis in the history of the
government, this Senate, which does not
take account Of the storms brewing out
side; this Senate. which has never yet
bowed 10 demasogue; this Senate which
Will maintain the credit OF the govern
ment. no matter what IL costs, VIII, be
fore this Congress adjOurns-if il does not
come from elsewhere, as il ought 10 do
place upon an appropriation bill provision
enough 10 pay every honest obligation OF
the government that has been contracted.
and TO keep the administration mo mat
ter which party IL may be) in position
so that the honor Of the government and
the credit Of the government shall be
maintained: and we will continue to stand
ha no
the matter OF observing obligations"
MIR. GORMAN EARNEST.
Mr. German delivered these rapid sem
tences with great force and eaTnestness,
and his words were listened 10 with the
greatest attention and interest.
Continuing, he said: Il care nothing
about these littie details. / call 1t details.
though ] ought not 10 use that word
But In the present emergency II Is a
matter of detail whether the money be
silver or gold or Creenbacks. or national
bank notes. so long as the money Is as
good as any money in the world. 1t must
be supplied 10 this government; and /
appeal to the members on the other side
OF the Chamber to come forward in
this crisis. for which they are as much
responsible as We are. The responsibility
IS Joint II cannot be escaped by either
side 10 must be met by you" (meaning
the Republcans) with US; and before
that clock" pointing 10 the clock over
The main door points TO u on the night
of the Sd of March next, believe think
| know | shall be the most deceived man
In the world II 1t be not sO-this great
body Will rise up in way sunicient 10
meet the case. and TO save this country
from impending disaster. because of want
OF money In the Treasury
HILL RESOLUTION ADOPTED.
At this point Mr.. Hnl suggested ,he pro-
priety Of having the Information from the
Treasury called for by the two resOlu-
tons off red by himself and Mr.. Allison.
Mr.. German prOfesSed his willingness TO
have the resolutions adopted. and they
were accordingly put before the Senate
The resolution offered by Mr.. Hill directs
the Secretary Of the Treasury to inform
the Senate whether il is necessary or de
srable that legislation should be adopted
authorizing the issue Of bonds. Treasury
notes, or other securities. TO realize money
for the purpose OF paying the current de-
iiciencies In ths revenue. and II so 10 state
the nature ana substantial details or Such
legislation.
The resolution was agreed TO.
Mr. Allison's resolution directs the Sec
rctaTy 10 inform the Senate what portion
OF the reserve of gold of 500 OOO. 900 in the
Treasury on January /, 1898. has been used
for current expenses; how much OF the
fund realized from the recent sale OF
bonds has been used, and the amount re-
quisite TO replace the money so used.
ALLISON RESOLUTION AMENDED.
To this resolution Mr. German offered
an dnltuQlntul ulltcliiiB the CtNi~toiS VI
the Treasury TO report TO the Senate the
actual available cash balance in the
Treasury applicable TO the current ex>
pendtures Of the government on Janu-
airy l. 1894, and on the 3lst of December.
1894; all payments made from the Trea>
sury between the same dates; the bal
ance OF cash In the Treasury on the Slst
of December 1884, available for the cur
rent expenses OF the government, not In
cludng the gold reserve fund; the actual
amount of gold In the Treasury on the
list Of January and the first OF July, 1897,
and the actual balance Of gold on the
3ist of December. 1894, and finally. to
make detailed statement showing the
appropriations that have not been used
since the list OF July 1888. and the amount
due to the sinking fund on the Slst day
OF December. 1894.
This amendment was agreed 10, and
Mr.. Allisons resolution, as amended, was
The Senate then, on Mr.. Germans
motion. at $50. adjourned until to-mor-
row.
House OF Representatives.
To-day's session Of the House was sig
nalized By the appearance OF Speaker
Crisp in the presiding officers chair and
bv the service Of Representative Everett
0emocraO, OF Massachusetts,, In the
cha MAINS stead Mr. Crisp was greeted