Red Lodge picket. [volume] (Red Lodge, Mont.) 1889-1907, 1895-02-09

affairs would have command Of tbs
/ revenue question for the next two
years. The secretary of the treasury
! had just reported to the senate that he
would have a surplus Of S22 900, 900 The
secretary had given the last figure Of
/ the surplus, emitting the cents, how
4 ever, as some question might have been
! raised as to the accuracy of this sur
i plus. Now, II the secretary had any
| surplus, the one thing to do was to
use 1t. And instead of long time gold
! bonds issue certificates to be redeemable
at any time
REEDS PLAN.
Mr.. Reed said he would send to the
I desk a plan he had formulated. 1t
/ might be changed or modified He was
! not insisting on having it considered
as substitute or in any other particu-
lar relative to the pending bill. but it
avoided the question Of putting a gold
bond against a coin bond; it avoided
other complications comprised in the
original measure.
Section ] of Mr.. Reeds bill author
lzes the secretary OF the treasury to
issue ; per cent. bonds, payable after
five years. similar to the bonds issued
under the resumption act 1t is sub
stantially similar to Mr. Sherman's bill
introduced in the senate
Section embodies new phase In
troduced by Mr.. Reed and is as follows
Ehat to enable the secretary Of the
treasury to meet the current expansas
OF the government, as long as the cllr-
rent revenues shall be deficient. h,. il
authorized from time to time, i'll his
discretion, to issue sell and dispose of
at not less than par. such an amount
OF ct'rtiica tes Of Indebtedness Of the
denomination Of $25. $50 and 500 Or anv
multiple thereof as may be needed rp1
thdt purpose, bearing not 10 exceed .
per cent interest per annum pavablt.
semi annually and releemablt a; tl-
pleasure Of the government IN coin after
two years from this date, with llkt.
qualities, privileges and exemptious
provided III the acl approved January,
IA, 1919. The secretary may at his dis
rretl"l dispose Of the same for not less
than al equal amount Of lawful money
of the United States ami at DESIGNATED
depo&ito1ies Of the United States and
at such postotfices as he may select,
and the secretary shall use the proceeds /
thereof for the purpose provided for in |
tl1S section and for none other"
MEN TN OPPOSITION
NJ Walker opposed the measure. /
The government had already been
forced to issue S100, 600 900 Of bonds
which We're denominated "Crover's."
shortly after 500 900, 600 more "tsroyers't
and TIL next step would be an issue of
5000, ,0oc.ooo more "GroEe1's."
Nh. simpson Of Kansas SAID in the
beginning Of his speech that he could
add u" hilarity TO this funeral 0cca-
sion. He inquired whether the .snoral
obliga TONS to which Mr.. Springer had
feferled, were binding on the secretary
20 fedt en- obligations in gold and de
Jared that it was an eveil Inheritance
rom republican rule He characterized
he ne" bill as a complete surrender Of
he democratic party 10 the banking
interest,"
Mr.. Pence Of Colorado narveled that
;uch 2 measure as the pending bill
should emanate from democratic (
committee at the diotatiOn Of a demo-
ratio president and he expressed fDr
linself and party Willingness to CO
'perate for the passage Of some relief
nea sure
MIR McKeighan Of Nebraska followed
N the same line The committee then
rse and the house adjourned until To-
morrow a ii o'clock