The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1895-12-29
THE BOND BILL PASSED
But by a Very Slender
Majority
THE RESUMPTION ACTS AMENDED
To Permit the Issue OF Fifteen
Year Bonds
REISSUE OF GREENBACKS
REISSUE OF GREENBACKS
Is Specifically Provided for in the New
Bond Bill
The Bonds Must Be Offered for Subscription
at Sub.Treasuries
Provision Is Also Made for tho Issue Of Three
Year 3 Per Cent Treasury certifi-
Gates In Denomination Of
Twenty Dollars
Press Special Wire.

AoSOCleteu Eress opec1hl wire.
WASHINGTON, Dec. 2s.-The house today
passed the bond bill by vote of 40 to
1856. The closing hours of the debate to-
day were lacking in spirit and there was
practically no excitement until the vote
was taken. The margin of thrty-four, by
which the Republican opponents of the
measure massed their opposition, was
passed, showed that the friends of the
measure had marshaled every available
vote in it's favor.
As it was forty.seven Republicans re-
fused to act with the majority of their par
ty. The Populists and Democrats, with
the exception of Mr.. Hutchinson of Texas,
who voted for the bill, presented an un-
broken front against the bill. The bill as
passed amends the resumption acts 30 as
to permit the issue of 3 per cent coin
bonds, redeemable after five years at The
pleasure of the government and payable
that nothing in the bill shall be construed
to repeal the bill of 1873 for the reissue of
greenbacks, and that the bonds shall first
be offered for subscription at the sub
treasures and repositories of the United
States.
The second section of the bill provides
for the issue of three-year 3 per cent deot
certificates of denominations of $40 and
multiples thereof in amounts not exceed
ing S5O,0OO,O0O to meet temporary def
ciencies.
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 tho house was operating
was to be taken at o'clock. The attend
ance was large.
Mr.. Brosius (Republican, Pennsylvania
opened the debate IN favor of the bill.
'Tbia W the OnIV 0OyIrfrv 0n a UInha ha
said, where the gold redemption had
neither qualification nor Limitation and
where the treasury was without the power
to resist the incursions of the foreign gold
grabbers or domestic spectators.
Mr.. McLaren democrat, South Carolina)
opposed it because it would increase the
burden of the people already taxridden
and would tend to legalize O series of
usurpations of power by the secretary of
the treasury. If the secretary would use
his discretion and redeem notes in silver
the gold raids would stop and new hope
would be infused into the Democratic party
now crushed by the financial policy of the
administration.
Mr.. Cannon Republican of Illinois) in
support of the message, declared that it
was a bill to maintain specie payments
which had been resumed under the wise
direction of the Republican party in 1879.
We, in our judgment and patriotism, stand
ready to pass this bill. If it is rejected by
the senate or president, we shall at least
cast our mite toward the protection 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, Democrat of New York,
announced his opinion that the passage OF
the pending bill, instead of strengthening
the financial ability and credit of the gov
ernment would lead to further panic, and
avowed that he was for the maintenance
nf tho Gold at n6a rd until tho ,,f
the world agreed to the coinage of silver.
Mr.. Tawney Republican, Mnnesota),
member of the ways and means commit
tee, in support of the bill, called attention
to the presidents urgent appeal to con-
gress to do something before adjourninr.
He knew, and everybody knew, that gold
bonds would not be authorized by congress,
and because congress would not give him
authority he and his secretary of the treas
ury had already reopened negotiations with
the same old maloolorous syndicate for an
other issue of per cent bonds. The peo-
pie OF the country were to be given no op.
portunity to subscribe. lie read several
letters from constituents offering to SUBJ
scribe for gold bonds.
Mr.. Bailey democrat, Texas) in outln-
ing the attitude of the silver Democrats,
said that they had desired to offer an a sub,
stitute for the bill u measure that would,
in his opinion, render the further sale of
bonds unnecessary. AS a plain business
proposition, the treasury should coin the
silver seigniorage That would furnish the
treasury $53 100000 of additional assets
Successful gold Withdrawals and bond
issu might be forced until the public
debt was increased infinitely.
Mr.. Payne, Republican, of New York,
called attention to the fact that the admin
Istration was already preparing to issue
$lOO.OOO,OOO OF thirty year bonds. This
was the emergency that this bill was met
by a reduction of the interest.
Mr.. Crisp. who closed the debate for the
Democrats, said in conclusion:
~ don't believe in the retirement of the
greenbacks; don't believe in the single
standard; do not believe in contracting
the currency of this country as it would be
contracted by the retirement of the green
backs; nor do believe in expressing tho
debtors of this country and :he world as
they would be oppressed by fixing the
standard of value wholly upon one man,
The vote on the first section of the bill
was as follows:
Yeas-Acheson, Adams Aldrich, Ander-
Babcock, Baker of Maryland, Barrett,
Bartholdt. Belknap, Bennett, Bingham,
Bishop, Black of New York, Blue. Bou-
telle, Brewster, Bromweli, Brosius,
Brown, Bull, Burton of Ohio, Cal
derhead, Cannon, Chickering, Clark of
Of Wisconsin, Cooke e Of lnois, EsS Cooper peDe Of
wisconsin, Corliss, Curtis of Iowa. Curtis |
OF New York, Dalzell, Daniels, Dayton,
DinRley, Dollver. Dovener. Draper, Evaus,
rairchild. Faris, Fenton, Fischer. Flacher,
Foote, Foss, Fowler. Gamble, Gardiner,
Gibson, Gillett' of New York, Gillett of |
nor, Grow, Hadley, Hadger, Hainer, Halter |
man, Han,ey, Hardy, Harmon, Hatch. |
Heatwole, Helner of Pennsylvania, Hearn-