Evening journal., 1895-02-14
BOND RESOLUTION UP.
Wilson Trying to Get Vote
on It Today.
HOUSE ASKED TO ACT QUICKLY.

thority For a Bond Issue Wnl save the
Country over $4,000 Annually.
WAsHIyGToN. Feb. 14-Tho house is to.
| day deyoting its attention TO the bond res.
Dlution reported from the ways and
means committee. and it is expected tho
house Will Probably reach vote tonight.
| The committee on rules mot this morning
| and will report n rule allowing a certain
number Of hours for debate and fixing a
l time for vote late in the afternoon.
Chairman Wilson says action must he
had at once in ordur to be effective. and
/ be has asked the committee on rules for
m order for vote after tho day debate
| The resolution is follows
That tho secretary OF the treasury be
and is hereby authorized to issue and dis
/ poso of at not loss than par in gold coin
/ bonds of the United States with the quail
ties, privileges and exemptions Of bonds is-
sued undor the act approved July a. l87n
entitled an net authorizing the refunding Of
| tho national debt to an amount not exceed
/ ing s65, 275, bearing interest at q rate
| not exceeding 3 per cent per annum, prin-
oipal and interest payable in gold coin %
tho present standard Of weight and fine
ness, said bonds to he made payable not
moro than 80 years after date Provided
| however, that no part Of Che proceeds of
/ the sale Of such bonds or OF the notes ro-
/ doomed with such proceeds shall be avail
nblo for the payment Of the current ex-
/ penses of the government.
This was agreed to in committee by
/ vote of s to 5.
Van Yorhis Asks Tor Information.
During tho debate In the house on the
District Of Columbia bill Mr. Van Nor.
| his of New York obtained the floor and
/ had road the following resolution
" Whereas ON Friday last 18th inst
the proaident entered into a private con
tract in writing with certain persons to
borrow @62, 600, 600 of gold upon ( per
cent 80 year bonds Of the United States at
a rate equivalent to AZ per cent pre-
MUM and
Whereas, Bonds exactly similar issued
| is years ago and having only i2 years to
run were selling Oh the New York mar
lets on that day at premium of l0i4 per
cent, and at that rate these 30 year bonds
are worth 1893 and
'Whereas A oablegram from London
shows that English capitalists arc ready
to pay premium Of l3 per cent on said
banasi and,
Whereas, The committee Of ways and
1 means of this house, not oomprehending
the reason which aetuated the executive
in selling 50 many millions Of bonds at o
| premium Of 4 Is per cent when premium
of l2 per cent could bo and much moro
ought to ho obtained on yesterday had the
secretary Of the treasury before il and e1-
amined him III relation thereto and OBJ
tanned copy of said written contract and
all information which the secretary Of the
1 all Ifrf4- 41 nn
Whereas, The information thus OBJ
tainod has not been communicated to this
house and
Whereas, AT this stage Of this congress
it is matter Of such mementous impor-
tanoe il is desirable and the right Of this
house 60 know what information the
ways and means committee has received
in relation 70 this lonn;
Resolved. That the committee on WAYS
and means Of this house report immoai.
ately all tho testimony and evidence and
statements furnished to It by the secretary
Of the treasury in relation to that loan,
including tho contract made with any
person on persons concerning the samo
Almost Immediately after Mr. Van
Yorhis' resolution had heon read MIR
Wilson chairman Of the ways ana means
committee presented the report on the
resolution FOR per cent bonds and witt
it the contract mado by CARLISLE. The mi
nority was granted leave % file minority
report at any timo.
Chairman Wilson's Report.
The report which Chairman Wilson sub
mitted for the majority OF the ways All,
means committee describes the resolution
and SAYS The message Of the president
which is herewith appended, oommuni
cntcs to the house tho condition Of the be
servo of gold in the treasury available fo
the redemption Of tho governments leQa
tender notes. and the maintenance of th
parity of its coin circulation. and the rea
: sons which compel nc the preson time al
! issue Of bonds to replenish and-mantau
that reserve. also tho general terms OF
4 contract made under authority Of section
7 $500 ot the revised statutes for tho pur
! chase and delivery 10 the treasury of
9 sum slightly in excess of S6a 600 600 3
. I gold coin to 20 added 10 tho stock Ia til
Q treasury. which amounts to only s4a.2I1.
3 | 0sl at the present time. The oommitte
( have Ind the benefit of q conference wit
8 the secretary of tho treasury. who exhibit
: Cd to them tho original contract entere
I into BY himself On the sth day Of Fehru
4 airy anu explained its details to thom.
/: fun ana complete copy Of said contract
s hereto added
d From q reading of this paper it will ,
). seen That tho arrangement "a the secrotar
y with ihn parties % this contract affect
3 the purchase of 3, 500, 600 ounces Of stnnt
arc gold coin of tho United States lamoun
ing 70 SH5.lla,a15l, at least one-half ,
which shall be obtained in and shippe
from Europe
e For this sold coin he has contracted I
a issue TO the parties furnishing it. uudt
n authority ol the act Tor the resumption
II spocie payments approved Jan. I isT'
II 2 per cent 80 yoar COIN bonds OF the ni
le cd states at price which realizes ta tAei
"a interest at the rate of 3s, but the seer
v tary of the treasury hes reserved the righ
Il II authority be given him by congress
% substitute ut par any bonds Of tho nitt
3 States hearing per cent interest OF whil
! the principal and interest shall bo speei
u oally payable In nited States gald o0i
~ of the present weight and hneness Eel
M | substitution to be made within ten dA,
IA from tho date ~ the contract It is Il
! object of tho joint resolution herewith su
4 mittod 70 give TO the secretary Of the trea
4 up' authority to substitute such bonds
,6 the amount of The contract
ii Tho saving % 30 Effected 70 the IA
~ / urnmant aa sat forth in the president