The herald., 1895-12-27

an exigency as now exists the public neces-
sity must control. Believing that such an
increase OF revenue as is proposed Is es-
sential, the first step in the restoration of
confidence and the restoration of the treas
ury to sound condition and that other
legislation to be proposed to this cannot be
effective without adequate revenue to meet
the expenditures of the government, your
committee recommends the pas sage of the
accompanying bills to temporarily increase
revenue to meet the expenses of the gov
ernment and provide against deficiency.
The report on the bond bill says that the
secretary of the treasury now has the all
thority under the resumption act of 1885
to issue and sell ten year five per cent
bonds and thirty year four per cent bonds
to maintain the fund for the redemption
OF United States notes, and that he has
sold 500 100000 of tue former descrip-
ton OF bonds and about $62 100000 of
the latter description of bonds in the past
two years, and as he announces his inten-
ton to avail himself of the authority given
by the resumption act and sell high rate
and long term bonds if neces sary, the only
question is whether it is not clearly for the
public interests that he should have au-
thoriiy to sell lower rate and a shorter
term bond.
The committee think that it is clearly in
the public interest that he should have this
authority and adds: In granting this au-
thor.y. however, we have included in the
bill a provision that the proceeds of bonds
sold shall be used exclusively for redemp-
tion purposes. our object being to secure
such a separation of the redemption fund
from the ordinary cash in the treasury as
will maintain and protect the reserve.
We also provide that such bonds shall be
offered for sale in such manner as to in
vite investment among the masses of the
people.
OF the certificates of Indebtedness the
report says:
"In our judgment the secretary of the
treasury should always have such authority
as this to meet temporary deficiencies that
are liable to arise. Unless this authority
is given, the secretary will indirectly use
the proceeds of bonds sold under the re-
sumption act for redemption purposes to
meet the deficiency in the revenue, as he
has been doing the past two years and a
half"
The speaker forthwith ordered the bill
referred to the committee of the whole.
Mr.. Crisp, Democrat Of Georgia, of the
house minority, said that the house minor
ity had had no opportunity to prepare and
file the views OF the minority.
Mr.. Henderson, Republican of Iowa,
from the committee on rules. then present.
must operate. 1t was ironclad in its char
acter.
II provided that Immediately after the
adoption of the order it would be in order
to call up the revenue bill just presented
by Mr.. Dingley, and that the debate should
run until o'clock when, without interven-
ing motion, the vote should be taken on
the passage of the bill.
Mr.. Henderson demanded the previous
question on the adoption of the motion,
which was ordered without division.
Mr.. Henderson then took the floor and
explained briefly the urgency which ne
cesSitated such summary action of the
hOusa SIlpil
Mr.. Crisp called the attention of the
house to the effect of the rule under which
il was proposed to operate, and asked
every member to weigh his responsibility
when he voted for it.
He protested against the use of the whip
and spur for the passage of this bill before
the opinion of the experts of The treasury
department could be obtained as to its
effect.
Mr.. Linney, Republican, of North Caro-
lima, aftartirsv stating that, as q Republi-
can, he favored the measure which it was
proposed to pass, asked if this rule would
not extend to Democrats the privilege of
offering amendments before the vote was
taken.
at will not" replied Mr.. Henderson.
The Democrats applauied this reply and
Mr.. Crisp affirmed that the truth regard
ing the purpose of the rule had only been
half elected by this question and response.
Its object he said, was not only to gag
the Democrats, but to prevent the Republi-
cans from Offering amendments which
they might deem wise. 1t was an attempt
to make the Republicans appear unani-
nous. democratic applause.)
Mr.. Henderson replied that there were
no differences on his side. This was an
emergency revenue bill, not careful revi-
sion of me tariff bill, and they were all
agreed. 1t was useless to allow the Demo.
Gratis to postpone notifications. The i'm
portant consideration was time and any
amendments offered from the other side
would only delay the passage of the bill.
None would be adopted.
The rules committee order was then
adopted by strict party vote, save that
Linney and Connolly of Illinois, Republi-
cans. voted with the Democrats.
The bill was then read by the direction
of Speaker Reed, who said Mr.. Dingley
would be recognized to control the time on
one side and Mr.. Crisp on the other.
Mr.. Dingley took the floor in advocacy of
the bill, and said the Republicans had
assumed the responsibility placed on them
by the president in a patriotic manner and
had gone to work to prepare measures
to meet the treasury situation He
then launched into an explanation
of the cause of the existing weakness of
the treasury, following closely the lines
of his report of the bill. 1t was only when
sufficient revenue came into the treasury
The ways and means committee had de-
cided that these revenues should be OBJ
tained from customs duties for the reasons
first, over 81 80, 100000 was now being
raised for excise taxes, and it was a we'll
founded policy of the government in time
of peace to obtain the bulk of the revenues
from duties on imports.
Second, an increase of customs duties
would tend to turn the balance of trade in
our favor. Mr.. Dingley contended that the
against us. The bill proposed by the COM
during which it was to operate, would raise
that was causing the disaster. Mr.. Ding
ley then explained in detail as he did liz.
his report, arguments that had oh aimed in
fixing the duties on wool and woolens. lun
ber, etc.. which were not included
cent. He closed with an explanation that
this was not general bill and said that
the general change needed would be post
poned until the other branches of the gov
eminent were in harmony with the house.
Mr.. Crisp. who followed Mr.. Dingley,
said the latter had asserted that this ex-
upon the country and the extraordinary
sage. In making this assertion Mr.. Ding
ley had not observed his usual care.
1t was true, Mr.. Crisp confessed, that
the daily receipts were smaller than the
daily expenses. but there was surplus in
the vaults of the treasury sufficient TO meet
any probable deficiency three times over.
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