Waterbury evening Democrat., 1895-02-14
BOND RESOLUTION UP.
Wilson Trying to Get a Vote
 on 1t Today.
HOUSE ASKED TO ACT QUICKLY
According to the Chairman's Report, the Adoption of the Resolution Giving Au- thority For Bond Issue Will Save the Country Over $500. .oOo Annually.

Country Over $500, 900 Annually.
 WAsHIN6ToN, Feb. 14-The house is to. day dsvoting its attention to the bond res olution reported from the ways and means committee and it is expected the house will probably reach vote tonight The committee on rules met this morning and will report rule allowing certain number of hours for debate and fixing time for n vote late in the afternoon.
 Chairman Wilson says action must he had at once in ordur 10 bo effective and he has as&ed the committee on rules for an order for n vote after the day debate The eSclution is a follows:
 "That the secretary of tho treasury be md Is hereby authorized to issue and dis. pose Of at not less than par in gold coin bonds of the nited States with the quali- ties privileges and exc mptions of bonds is sued under the net approved July l4 lS1n. entitled an act authorizing the refunding of the national debt to an amount not exceed ing $t5. ll6. 275, bearing interest at n rate not exceeding & per cent per annum, prin- cipal and interest payable in gold coin of the present standard of weight and fine ness, said bonds u ! e made payable not moro than 30 years after date Provided, however. that no part of the proceeds of the sale of oh bonds or of the notes re- | deemed with such proceeds shall he avail able for tho pawn, mt of the current ex- penSes of tie govern ment.
 This was agreed to in Comm:ttee by vote of $ tu 5
 Van N"rhi> Asks For Information. During the io,ate in the house on the District of Columbia bill NIT. Van Vor his of New York obtained the floor and had read the following resolution: | al. the president entered into private con- tract in writing with certain persons to | borrow $63 uC0. O0U of gold upon i per cent 30 year bonds of the United states at Q rate equivalent to H. per cent pre- | mium; and
 | Whereas. I,onds exactly similar issued ! Is years ago and having only l2 years to run were selling on the New York mar kets on that day at n premium of 10 per cent, and at that rate these 90 year tonds | arc worth 1l9ia and
 Whereas \ cablegram from London shows that English capitalists are ready to pay premium of 12 per cent on said b nds and.
 l Whereas, The committee of ways and means of this house, not comprehending the reason which actuated tho executive | in selling many millions of bonds at \ | premium of l l., Ter cent when prem um | of l2 CT cent could hc and much more ought to l'e obtained, on yesterday had the secretary of the treasury Eeforo it anl ex- amined him in relation thereto and ob- tained copy of said written contract and all information which the secretary ot the treasury could give on the subject: and | "Whcreas Tho inf, rmation thus ob- | tained has not lCcn Conmun; ;Cated to this house and
 | 'Whercas. At this stage of this con gresS 1t is a matter ot such mcmcntous impor- tance it is desirable and the right of this house t0 know what in ormation the ways and means committee has reCievei in relation to this loan:
 | "kcsu.vrd That the committee on ways and means uf this house report immedi- atcly all the testimony and evidence and statements furnished to it by the secretary of the treasury in relation to that loan. including the contract made with any person or poi sons concG rning the same "
 Almost immediately after Mir. Van NOrhis' resolution had heen read Mir. Wilson. chairman of the ways and means committee. presented the report on the resolution for per cent honds and with 1t the contract trade by Carlisle, The mi nority was grHnted leave to file minority report at any time
 | Chairman WilsOn'S Report.
 Tho report which Chairman Wilson sub mitted for 0 ma ority Gf the ways anC means committee describes the resolution and says: The message Of the president which is herewith appended, communi cates to the house the condition of the re serve Of god in tho treasury available fol the redemption of the government lega tender notes. and the maintenance of tho l parity Of it's coin circulation. and inc req sons which compel at the present time aT issue of bonds to repleniSh and maintain that reserve; also the general terms of [ contract made under authority of scctior 37O0 of the revised statutes for the pur chase and delivery to the treasury of [ sum slightly in excess of stu. 0O0 O00 o gold coin to he added to the stock in thu treasury. which amounts to only S42. 2l1. 0Sl at the present time The committee have had the benefit of n conference witt the secretary of tho treasury, who exhibit cd to them the original contract entered into by himself on tho >th day of Fehru ary and explained it's details to thcm. full and complete copy of said contract fl | hereto added
 From a relding of this Iarcr 1t will b, seen that the arrangement of the secrctar! with tho parties to this contract affect thc purchase of $. 5UO. GOO ounces of stand ard Id coin of the United States amount ing to S65, ll6.2 at least one half O which shall be obtained in and shipped from Europe.
 For this gold coin he has contracted t issue to the parties furnishing il. unde authority of the act for the resumption O specie payments approved Jan. II. 1875 DOT cent Q year coin bonds of the nit ed states at a price which realizes tn then interest at he rae of 37.. but the secre tary of tho treasury has reserved the right if authority be given him by congress, t substitute at par any bonds of the | mite, States rearing per cent interest, of whicl the principal and interest shall be spe;i. ically payable in nited States gold coil Of tho present weight and flneness sai' substitution to be made within ten day from the date of the contract It is tn object of the joint resolution herewith suh mitted to give to the secretary of tho treas ury authority to substitute such bonds [ the amount of the contract.
 The saving to be effected to the gov | ernment as set forth Tn tho president message, will be $539. l59 per year for ey cry year the per cent ionds run. and c the amount of $l6. I1O.7'O should the run 30 years, As it is not believed by th committee that the issue of bonds speci ically payable in gold will impose an additional burden of liability upon tn
 government than if they are made Tayabl ln coin under its pledge and policy to prt
 serve the parity of the coins in the tw metals. the saving of this large amour
 becomes . matter of substantial momer = and advantage to the government and q
 the parties to take the bonds arc undt
 contract to furnish gold coin for them
 seems no hardship on the government ' contract to pay them back in the sam coin that they furnished to 1t
 The contract was made part of the II
 port and is as follows:
 The Bond Contract. This agreement. entered into this St
 day of February between tho secretary
 the treasury Of tho United States. of Il