St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-02-08

by this Opportunity. Applause.
Mr.. Bynum Dem, lnd.) based an
appeal for the passage of the bill or
some resolutions of the Indianapolis
board of trade indorsing the presidents
recommendations.
Mr. Strait (Dem., S. c. created
amusement while opposing the dill by
describing the degeneration Of the re-
public and Of congress.
"Ef Washington Could Look
in upon the house today, "he said, ''tears
as big as mountains would furrow his
cheeks, and if John &. Calhoun could
come down he would lash fOur-ffthS OF
the members from the capitol"
Mr.. BrOSiuS' amendment was agreed
to. An amendment offered hy Mr.
Wheeler Dem, Ala. 10 repeal the state
bank tax was lost without division.
Mr.. Livingston Dem, Ga.) offered the
Wheeler amendment with the provlso
that the repeal should go into effect July
l, 1896 He stated that the president
favored the repeal of the state bank
tax, and on behalf of 110 Southern DEM
oCralS he appealed to the supporters OF
this bill to give them this crumb.
Mr. Daniels tRep.. n. y presented
the resolutions adopted by the board OF
trade, Bankers ASSOCIATION and other
commercial bodies of Buffalo in favor OF
the bill. Are these the associations, q"
asked Mr. McRae Dem, Ark, (which
adopted resolutions liz 1898 that the re-
peal of the Sherman law would be toI-
lowed by prOsperity?"
Perhaps they are" said Mr.. Daniels,
smillngly.
Mr. Boatner supported Mr.. Living
cfDnfC inSr-Sl
So. MIR. Grosvenor asserted that the
administration only hope fer rellef i'll
the treasury lay in The hope OF getting
Republican votes, anu he appealed to
the other side to withhold political
Schisms and try the experiment OF
patriotism.
Mir. Haugen (Rep., Wis., offered an
amendment TO strike out the provision
excluding from the operation OF section
authorizing national banks to take
out circulation up to the par value OF
their bondsl outstanding bonds bearing
but 2 per cent interest. Mr.. Hendricks
dem, N " supported the amend
ment. MI. Haugen's amendment was
agreed to without division. Mr.. Bell
Pop, COLI offered an amendment
authorizing the bonds issued by this
bill 10 be sold for gold or silver without
discrimination and 10 be payable III gold
or silver. 1t was debated by MesSrS
Lockwood Dem. n. y, Springer
(Dem.. llk), Williams (Dem.. lll.) and
many others and was lost II 10 LOG.
Air. Bryan (Dem.. Neb.) called atten-
ton to the fact that although the Re-
pubicanS professed to be i'll favor OF
coin bonds not ten of them had voted
for the Bell amendment, and that Mr..
Reed, who had himself introduced sub
stitute authorizing the issue OF com
bonds, had voted against 1t.
lis not the proposition of the RepuD-
lcan leader providing for coin bonds.
interrupted Mr. Bower (Rep., CALI
better than that of the Democratic
leader?"
lit is not" replied Mr.. Bryan. Mr..
Cleveland's proposition Is open and
above board. while that of Mr.. Reed is
masked. He has just voted against an
amendment Incorporating the idea or
his substituted Democratic applause. ]
Mr.. Hutchinson (Dem., Tex offered
an amendment similar to that OF Mr..
Bell, making the bonds payable
I'm Gold and silver.
for which Mr.. Bland offered a substi-
tute for the coinage OF the silver bullion
III lllC L Cd0di ollh li4N ANNIiA EttAOi1 W
the treasury notes of 1890 in coin, as
provided by section 3 OF that act, but
both amendments we're lOSt-Bland S
by a vote of 100 to 1l4.
MI Walker (Rep., Mass offered an
amendment to confer upon the secre-
tary of the treasury discretion as to the
interest to be paid on the bonds and the
lime they should run. MI. Holman
Cd m. Ind.) characterized the bill as
one TO perpetuate the national banks.
MIR. Everett Dem, MaSs.) made an
earnest argument in favor OF cOnferring
discretion on the executive branch Of
the government instead Of holding down
to hard and fast rule. Mr.. Mallory
(Dem., Fla.) spoke final word against
the bill. MIR. Hooker Dem, Miss,
speaking against the Walker amend
ment. declared his unalterable opposi-
ton to comferring on any one discretion
to issue bonds for al indefinite time. to
run for an indefinite period. payable
principal and interest III gold.
Mir. Walkers amendment was lost
81 to 81.
Mr.. Bryan offered an amendment to
the Reed substitute offered Yesterday,
to provide that nothing in the act shall
be construed to vitIate the policy OF the
government 10 pay all coin bonds in
gold or silver at the option OF the gov
ernmcpt, as expressed in a resolution
passed by congress in 1913.
Mr.. Cobb Dem. Ala.) offered an
amendment to the Cox substitute OF
fered yesterday to make bonds issued
under its provisions bear per cent in
ttrest and payable in twenty years.
The hour set for taking the vote. $3.50,
arrived willie an amendment of Mr..
Terry (Dem.. Ark was being read.
1t cut of this amendment leaving the
two substitutes and the amendments
thereto pending.
The amendments adopted in the COM
mIttee were agreed to in the house with
out division except that TO reduce the
annual tax OIL national bauk circulation
from l to oue-fourth OF l per cent per
annum. This was also agreed to, 200
to IL.
Mr.. Reed then attempted to enforce
an agreement which he claimed had
been entered into in committee. by
which his substitute should be voted on
after the Cox substitute. The fact of
such an agreement was denied by Mr.
Cox.
1T is a question of propriety," said
Mr. Reed sharply.
III is question of truth" replied Mr..
Cox warmly.
Reeds Substitute Killed.
The chair held that the vote should
first be taken on the Reed substitute, to
which there was pending amendment
The Reed substitute provides for an
issue of 3 per cent coin bonds to replen-
ish the gold reserve. and the issue of
certificates of Indebtedness to meet de-
ficiencies III the revenues. Mr.. Bryan's
amendment added proyiso that moth,
ing in the proposed substitute should be
construed as surrender by the govern
ment Of the right to pay outstanding
coin obligations in gold or silver at
the option of the government as de-
clared in the resolution which passed
congress in 1873. The Bryan amend
ment WAS lost, 127 to 1863, and the vote
was then taken on the Reed substitute.
Mr.. Reeds substitute was lost, 109 to
lS7. The vote then required on Mr.
Cobb's amendment to the Cox subst;-
tute. The substitute was practically
the Carlisle currency bill, including a
provision for the repeal Of the state
bank tax. The vote was practically a
party vote save that Messrs. Cannon