The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1895-01-25
NEW FINANCE MEASURES.
senators Pugh and sherman Each Pro.
sent BIls-A spat With Hill.

senators Pugh and Sherman Each Pre-
sent Hills-A Spat with Hill.
WASHINGTON, Jan. 1S.-Mr. Pugh OF
Alabama secured recognition soon
after the senate met to-day to present
what he regarded as d solution of the
present lack Of government revenue.
He varied the usual custom OF intro
ducing a bill by reading the full text
Of his measure with great delibera-
ton and then commenting on it. The
bill provides for the immediate issue
of $500, 900, 900 of treasury notes to
meet deficiencies, these notes to be
redeemed in coin and to be constantly
reissued. 1t further directed the
coinage Of the seigniorage and the
deposit of silver bullion from Amer
lean minis.
Mr.. Hill Of New York asked if the
senator wished the immediate passage
of this bill and Mr.. Pugh retorted:
''That question is in line with he
New York senator's treatment OF all
great public questions and | decline
to answer it,"
Mr.. Pugh proceeded to urge the
gravity of the present situation. 1t
was such that he was ready to sur
render long convictions in order to-
secure a remedy. ''Thus far he
went on, senators have stood here
and torn down. 1t is easy to tear
down, but it is hard to build up. We
have torn down until we have nearly
torn down the country"
Mr.. Pugh begged that the finance
committee, in which he had great
confidence, should do something at
once. He did not believe the senators
were a lot of "Muscovite brakes"
bowling and stopping stupidity.
Mr.. Allen of Nebraska interrupted
to ask as to the attitude of the adj
ministration on this bill.
''Mr, Cleveland has sent q message
to congress, calling attention to pres
ent conditions" responded Mr.. Pugh
with great earnestness. THE presi-
dent and his secretary of the treas
ury have offered scheme OF currency
revision designed to meet present
evils. If this is not acceptable both
houses should propose something
else. The president has discharged
his duty, now let us discharge ours"
The bill was referred to the finance
committee.
Mr.. Sherman Of Ohio, as soon as
Mr.. Pugh had closed, arose with his
proposed financial measure. Its read
ing received the. closest attention
from the senators on both sides. 1t
provides for the issue and the sale of
bonds under the provisions of the re-
sumption act from time to time as
the deficiency of the treasury might
require, the proceeds to be used
wholly for deficiencies and the bonds
to run five years at not to
exceed three per cent interest. The
second section provides that in lieu of
the foregoing the secretary of the
treasury. may issue coin certificates
in denominations Of $685.. $50 and 500,
bearing three per cent, interest, and
put the certificates lin circulation
through the treasures and postotfices.
The third section deals with the de-
post of bonds in national banks. 1t
was referred without comment to the
finance committee.
In presenting a report on a pension
bill Mr.. Gallinger criticised severely
the past u~tterapces of Mr.. Cleveland
as to the frauds existing in the pen
sion system.
The pension appropriation bill was
taken up and Mr.. Palmer of Illinois
answered the criticisms made by Mr..
Gallinger against the pension office.