The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-12-29

WASHINGTON. Dec. 2S.-The House
today passed the bond bill by a vote
of 10 to 1885, and thus having dis
charged the task for which it has been
sitting during the recess, effected an
agreement by which the House should
adjourn next week. three days at a
time. in order to give members an
opportunity to spend New Years day
at their homes. The closing hours of
the debate today were lacking in spirit
and there was practically no excite
ment until the vote was taken. The
margin Of So by which the first section
of the bill against which the Republi-
can opponents of the measure massed
their opposition was passed, showed
that the friends of the measure had
marshalled every available vote in its
Favor.
7 AS It was forty-seven Republicans
refused to act with the majority of
their party The Populists and Demo-
Gratis. with the exception OF Mr.. Hutch
tnsoT7. of Texas. who voted for the bill,
presented an unbroken front against
the bill The bill as passed amends
the resumption acts so as to permit
the issue of 8 Der cent coin bonds, re-
deemabIe after five years at the pleas
ure Of the government, and payable in
Asfteen years with the specific provision
4y4at nothing in the bill shall be con-
strued to repeal the act of 1878 for
the reissue of the greenbaclzs, and
that the bonds shall first be offered
for substitution at the sub-treasuries
and repositories of the United States.
The second section of the bill pro-
Vides for the issue of three-year 8 per
cent debt certificates of denominations
Of $40 and multiplies thereof, in
amounts not exceeding $50,000,00O to
meet Temporary deficiencies.
The Debate Opens.
When the House convened today
but three hours remained for debate
on the bond bill. The vote, by the
terms Of the rule under which the
House was operating, was to be taken
at o'clock. The attendance was
large.
Mr.. Brossius CRep) of Pennsylvania,
opened the debate in favor of the bill.
This was the only country on the
globe, he said. where gold redemption
had neither Qualiffca ton nor linita-
ton and where the treasury was
without the power to resist the in
CurSlOnS OF IpTelSn SOlu SIdDDeIS VI
domestic SPECTATORS
Mr.. Parker Rep), of New Jersey,
favored the bill IS a good business
measure.
Mr.. McLadren Oem9, of South Car
olina. opposed it because it would in
crease the burden of a people already
tax-ridden. and would tend to legalize
q series of usurpation of power by the
secretary of the treasury. If the sec
his IiSPratiOn and
redeem notes in silver. the gold raids
would stop and new hope would be in
fused into the Democratic party, now
crushed by the financial policy of the
administration.
Mr.. Cannon Rep), of Illinois, in sup
mort of the measure. declared that 1t
was a. bill to maintain specie payments
which had been resumed under the
Wise direction Of the Republican party
In 1879.
Republican Applause.
.'You on the other side will vote
against this bill-those in favor of sill
yer at is to 1. because you want to
aynpair the credit of the country and
hSs1rce lis to a silver basis, those who
SSlpport the administration, because it
wants gold bonds. We in our judg-
ment and patriotism stand ready to
pass this bill. If it is rejected by the
Senate OF DleSlQGll We oileAi q A~SNNSN
have cast our mite toward the pro-
lection of the public credit and have
given a prophecy of what we shall do
when we come into full power In 1897.
Republican applause)
Mr.. Bartlett Oem), Of New York,
announced his opinion that the pas
sage of the bill. instead of strengthen
ing the financial ability and credlt OF
the government. would lead to further
nanic and avowed that he was for
maintaining the gold standard until
the powers of the world agreed to the
coinage of silver.
Mr.. Tawney (Rep., Minn), a member
of the ways and means committee, IN
support of the bill called attention TO
the presidents urgent appeal to Con-
erress to do something before adjourn
ing He knew, and everybody knew.
that gold bonds would not be author
yzed BY Congress. and because Con-
eless would not give him authority, he
and his secretary of the treasury had
already reopened negotiations with the
same old nlalodorous syndicate for an
other issue of per cent bonds. The
people of the country were to be given
M onportunity to subscribe. He read
Areral letters from constituents offer
ing TO subscribe for gold bonds.
BaiIey's Idea.
Mr.. Bailey Dem., Texas, In outlin-
ing the attitude Of the silver Demo-
Gratis, said that they had desired to
offer as a substitute for the bill
measure that would. in his opinion.
render the further sale of bonds unne-
cessary. AS plain business PROPOSE
ton, the treasury should coin the sill
YER seigniorage. That would furnish
the treasury $530o0,000 of additional
assets.
Successive gold Withdrawals and
pond issues might be forced until the
public debt was increased indefinitely.
Mr. Payne (Rep., N. ", called at
tention to the fact that the admins
tration was already preparing to issue
800, 900, 900 of thirty-year bonds.
This was the emergency that this
pill met by reduction of the interest.