San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1895-02-14
WASHINGTON AND AUSTIN.

Vohoioh W 'ho PooVohiSo appioplld-
ton bill, spending the hours dis
cussing ownership Of postal cars
by the government.
The President was called upon to
furnish copy of the bond contract,
by which the bankers who handled
them made a first profit Of s per
cent.
Senate concurs in House resolu-
ton extending time of making re-
turns on income tax to April 10Th.
The President was scored for his
contract with the bankers and for
withholding all details from the
Senate.
HOUSE.
District of Columbia bills occu-
pied the attention of the house.
House resolution asking for 1nfor-
nation as to bond contract was
passed. The nature Of the contract
is shown in the following report of
the Ways and Means committee,
which contains the terms:
"For the purchase and delivery
to the treasury Of sum slightly in
excess of 5000, 900 Of gold coin, to
be added to the stock in the treas
ury, which amounts to only S42,-
,OSl at the present time. The
committee have had the benefit OF
conference with the Secretary of
the Treasury, who exhibited to
them the original contract entered
into by himself on the Sth day of
February, and explained it's details
to them. a full and complete copy
Of said contract is hereto added"
From a reading of this paper it
will be seen that the arrangement
Of the Secretary with the parties to
the contract effects the purchase Of
100000 ounces Of standard gold
coin of the United States amount
ing to $50, ll6,215), at least one
half OF which shall be obtained in
and shipped from Europe. For
this gold coin he has contracted to
issue to the parties furnishing it,
under authority of the act for the
resumption of specie payments, APP
proved Jan. II, 1873, 4 per cent.
thirty-year coin bonds Of the Unit
ed States at price which realizes
to them interest at the rate Of
: per cent. But the Secretary Of
the Treasury has reserved the
right, if authority be given him by
Congress, to substitute at par any
bonds Of the United States bearing
3 per cent interest, Of which the
principal and interest shall be
specifically payable in United
States gold coin Of the present
weight and fineness; said substitu-
tion to be made within ten days
from the date Of contract. 1t is
the object Of the joint resolution
herewith submitted to give to the
Secretary OF the Treasury authori-
ty to substitute such bonds to the
amount OF the contract.
"The saving to be effected to
the government, as set forth in the
Presidents message, will be $685.
139 per year for every year the
three per cent bonds run, and Of
$l6,l70,700 should they run thirty
years.
LAS it is not believed by the
committee that the issue OF bonds
specifically payable in gold will
impose any additional burden Of
liability upon the government
than IL they are made payable in
coin under its pledge and policy
to preserve the parity OF the coins
in the two metals, the saving
Of this large amount becomes
matter OF substantial mo-
ment and advantage to the govern
ment, and as the parties to take
the bonds are under contract to
furnish gold coin for them, it
seems no hardship on the govern
ment to contract to pay them back
in the same coin that they furn-
ished to it,"
AT AUSTIN.
Senate passes measure to reor-
ganiZe the 10Th judicial district.
Report Of all business done yes
terday was given in last evenings
LIGHT, as to Senate and House.
House committee on finance has
cut appropriation for rangers from
$4,000 10 25,OO0; and penitentiary
appropriation from $4,000 to $751;
600.
COmptrOller's estimate of reve-
nue. for the fiscal year are:
cENEpAT pEN-ENT-E
From ad valOrem and poll
taxes -. ............,...Sl,1 25, 4O7 30
From occupation taXeS........ 667. $50 90
From redemption and inSOl
vents .....'..... ............ 22,5OO co
From asylum funds and pub.
lie domain. &c, 500 90