The Portland daily press., 1895-01-19
NEW Gu RRENCY BILLS.
Representative Walker of Massachu
setts Offers Currency Measure.


setts Offers Currency Measure.
That He Thinks Would Be Acceptable to
the House-It Provides for the Issuing
of Bonds Bearing Interest at Not Over
| the National Debt.
| Wash ington, January 1S-Mr. Walker
of Massachusetts introduced in the
House today bill to authorize the Sec
retary of the Treasury to issue bonds in
certain cases. The measure provides
that in order to enable the Secretary of
the Treasury to carry into effect the pro-
visions in the act of January 14th, 1875,
"An act to provide for the resumption
of specie payments" and to provide for
| any deficiencies in the revenues of the
treasury, to meet the appropriations by
Congress, and the appropriations made
| by the existing law, the Secretary Of
| the Treasury is autho rized to issue from
| time to time, for four years, bonds de-
scribed in the act of July ID, 1870, enti-
| tied an "act TO authorize the refunding
of the national debt. such bonds to be
| payable at the pleasure of the United
| States after year from the date of issue
and upon the expiration of three years;
or bonds payable after three years and
upon the expiration of seven years; or
bonds due on certain day within three
years from the date of such bonds as the
Secretary may eleoet. Such bonds to
bear interest at rate of not more than
| three per cent per annum.
In b Of 70 fr WoI Y or
said it differed materially from that pro-
posed by Senator Sherman. The Sher
| man bill provided for bonds payable five
years after the date of issue. The DEM
ocrats and iRepublicens of the House,
he said, are opposed to this as it never
could pass the House. No bill could
pass the House which provided for
tion of the government and without a
premium, by the administration to be
inaugurated in 1897. The SAME is true of
the five-year certificates of indebtedness
provided for in the Sherman bill. Mr..
Walker said half of the money the treas
urer would need could be borrowed on
bonds of the kind specified in his bill
at from 1 Ia to Q per cent. There were
millions of dollars in the hands of ur,ls
teessand executors of property and to be in
vested at certain times by persons leav-
Ing the country, which they would be
glad to lend at from / 1-9 TO 2 per cent.
This money is now bringing nothing.
The Sherman bill also proposed to allow
the banks to take out circulation to the
par value of United States bonds deposit
ted, while two per cent bonds of the
United States were now below par. Con-
gress had refused this propose time and
again in the last 90 years, and no bill
with this provision in it could now get
more than one vote out of five in the
II L. l,,o l. Sr
dance with what he knew to be the tenn
per of the House. That body would go
no further as to the IaIigth of the bond
than named in his BILL.
Senator PETER of Kansas today intro-
duced bill to "replenish the treasury
and provide abundant and safe curren-
cy. It's provisions are, in brief. Re-
pealing all laws authorizing the Issue
and sale of bonds, the preparation of one
hundred million of legal tender treasury
notes, to be used in paying current ex-
penditures, reviving sections and ID,
of the act of 1877 in regard to silver coin
agea and for the payment of gold and
silver from the treasury in proportion in
which they are held there.
IN THE SENATE.
The Nicaragua Bill Still Under Fire-Geo.
p. Whetmore of Rhode Island Files His
Credentials.
Wash ingtoD, January 18.-In the SEN
ate the joint resolution reviving the
grade of Lieutenant General in the army
was passed.
The.oredenrials Of George P. Wetmore.
as senator from Rhode Island for the
term beginning March 4th next, to sue
ceed Mr.. Dixon, were received and placed
on file.
taken up, and Mr.. Caffery of Louisiana
resumed his speech against the bill. He
argued that it was not within the con-
stitutional power of the government to
do what the bill proposed. The scheme
was a private enterprise, for private
gain. and it was so wild and impractical
Bile as not to be adopted without scrutiny
and investigation. Mr.. Caffery offered
resolution, (Which went over) declaring
it the sense of the Senate that treaty
be made as soon as practicable with the
governments of Nicaragua and Costa
Rica for sufficient territory on and
through which to construct ship canal
TO connect the Atlantic and Pacific
oceans.
Mr.. Morgan made statement and pre-
sented papers in dlsproof of the asser-
tion by Mr.. Turpie, that the officers of
the maritime canal company are to
be beneficiaries under the proposed law,
and were seeking its passage.
The Senate then adjourned.
FOR UNIVERSAL PEACE.
A Memorial from the British Parliament
Presented to the President.
Washington. January 1S.-William
Randall Cremer, Liberal mem ber of
Parliament from the London constitu-
ency, and editor OF the Agitator, saw
the President at the White House this
afternoon. He presented a memorial,
signed by 354 members of Parliament
representing all shades of political opin-
ion in Great Britain, proposing that all
differences between that country and
the United States which cannot be set
tied by the usual diplomatic methods,
be submitted to arbitration. Mr.. Cremer
said the British government was favor
able to the proposition. The memorial
grew out of the sentiment voiced by the
Legislators of both countries affirming in
a general way the principles of arbitra-
tion that is the direct result of Senaor
Allison's resolution introduced in the
last sess ion of Congress providing for an
arbitration treaty between sEnglish