The record-union., 1895-12-27


,, of the Committee on Ways and Means,
opened the debate on the side of the
majority. He said that when the Presi-
dents special message was read at the
Clerks desk last Saturday informing
Congress that there existed a serious
condition in the finances of. the country
and the Federal Treasury and appeal
ing to the Senate and House not to take
a recess until relief was afforded, every
member felt that there was imposed
upon the House not only special re-
sponsibility, but an urgent demand for
immediate action; and that it was the
duty of the House to remain in session
until some measure of legislation was
passed that would afford relief to the
exigent state of the treasury. The
Committee on Ways and Means had
taken the matter up and proceeded to
consider what measures of relief should
be proposed. The first thing that had
attracted the attention of the Commit
tee on Ways and Means was that for
two years and half there had been a
constant deficiency of revenue; until
that want had become chronic. He
knew that gentlemen on the other side
| claimed that the revenue was suffi-
cient, but the fact was that from the
| 1st of July, 1893, up to to-day there had
| been an insufficiency of revenue to
cover the current expenses of the GOv
ernment to the aggregate amount of
$123, 100000 The deficiency for the
current year was over eighteen and one
half Millions and for the current month
of December the deficit had approx
mated 100000 What then did the
gentlemen mean, and what did the Sec
retary mean in saying there was no
need of additional revenue. They meant
| that with the proceeds of the sale of
the bonds and the use of greenbacks
the receipts exceed the expenditures. 1t
seemed to him and to the majority of
| the Committee on Ways and Means
| that the first course to be taken was to
| legislate so as to provide sufficient rev.
enue to meet the expenditures Of the
Government.
| Dingley went on to discuss and to up
hold the bill in detail and said that if it
| became law it would not only increase
the revenue by over $4,000, 900 a year,
| but would also give to the business in
terests of the country the moral infu-
! ence of a Government which was sol
vent, which paid its debts, and whose
credit was second to no Government on
the face of the earth. Republican ap-
plause)
Crisp said that the bill, in order to be
responsive to the request of the Presi-
dent, ought to be in line with the sug-
| gestiOns that come from that source
| He insisted. from Secretary Carlisle's
report, that the cash balance in the
treasury on the 1st of December, 1895
was $170.000,0 900, being 100000 in
excess of the gold reserve, and S17, ,O00,
| 600 in excess of any sums necessary to
| build up the gold reserve. There was,
therefore quoting Carlisle), mo reason
/ to doubt the ability of the Government
to discharge all its current obligations
during the present fiscal year and have
a large cash balance at its close, with
out imposing additional taxation in any
form on the people" His friend from
Maine, Dingley, knew-no one better
that there was in the treasury to-day,
over and beyond the gold reserve, more
! free money-three times over-than any
| deficiency which might occur during the
fiscal year. 1t was not a question Of
borrowing money to meet expenses
| The money was already borrowed, and
was in the treasury; and the question
was whether it should be used now, or
whether the House should rush, post
haste, to impose additional burdens on
the people in orGar to pile up money in
the treasury.
Crisp went on to taunt the Committee
or Ways and Means with reporting a
bill for horizontal rise of duties after
all the ridicule which had been cast on
Morrisons bill for a horizontal cut: and
| he said that the effect of the pending
measure was to declare that the Nc
Kinley Tariff Act was 60 per cent. right
and 40 per cent. wrong. Gaughter.) }
! He quoted McKinley's criticism of the
Morrison bill as patchwork and a proof
! of Incidence, and said that on the issue
| Of the pending measure the parties
would go before the people in the next
Presidential campaign, and that he had
no doubt that the people would respond
as they had always responded, in favor
| of themSelveS-that was, in favor of
| lower taxes. Democratic applause)
Wheeler Dem) of Alabama spoke
against the pending measure.
Payne (Rep) of New York, member
of the Committee on Ways and Means,
said that the Republicans in the House
being ready to meet the responsibilities
which was on them to-day had pre-
sented a bill to increase the revenue
Two years from now, however, they
would meet the responsibilities of that
hour and would present to the House
and Senate and to Republican Presi-
dent a bill for the protection of Ameri-
1o1 ]
write it on the statute book The gentle
man from Georgia had said that there
had been a deficiency of revenue under
the Tariff Act of 1890. He Payne) as
serted however, that Act had pro-
duced sufficient revenue not only to
meet all the expenditures of the Gov
ernment down to the 1st of November,
1892, but to put into the treasury sur
plus of of over $3S, 100000. He could not
stop to describe the other benefits of
the Tariff Act of 1890, which were
"kncwn and read of all men, You have
borrowed $1S1, 100000 since you came
into power, and if not the treasury
would have been bankrupt in a sum of
over $4,000 900. Do you want to con-
tinue that same thing? Do you want to
deal with a syndicate that will have a
I, profit of $6000,000 on a loan of $50 000,-
| 600? Does not your cheek blush in
shame at even the newspaper sug-
gestions (whether true or noD that one
of the European Powers is offering gold
to our Government to help us out of the
difficulty? Is it not time that the Amer
! lean ceased to be put in the position of
mendicant and supplicant to the Gov
ernments and syndicates of Europe
begging for gold to replenish the treas
ury?
1.-TWO remedies are proposed. The
Ilr.,.-; .lo,,t is rncnSSar1r 10 r,ncrn-