The News-Herald. [volume] (Hillsboro, Highland Co., Ohio) 1886-1973, 1896-02-06
THE SUBSTITUTE
To the House Bond 6iII Passes the
Senate. ...

Mr.. Aliens Amendment Prohibiting Future
Issue Of Bonds without the Consent Of
tho Congress was Defeated-seign.
forage Amendment Defeated.
WASHINGTON, Feb. 3--When the sen.
ate met at II o'clock Saturday morn.
ing after taking a recess from 1e
o'clock Friday evening, the attend.
ance of senators was rather slim,
there being perhaps twenty in attend.
ance.
The vice president laid before the
senate deficiency estimate of appro.
priation by the secretary of the navy
of $500, 900 for new practice vessels for
the naval academy.
Mr.. Morrill, rep, VIZ, chairman Of
the finance committee, then addressed
the senate in opposition to the free
coinage substitute reported by the
committee for the house bond bill.
Mr.. Morrill, concluded his speech at
11:45. Mr. Teller (rep., Col.) replied to
the assertion of Mr.. Morrill, that silver
was being mined at ridiculously low
cost. He maintained that goid and
silver were to-day being mined at rs
cents an ounce. He had ample tes ii.
mony to show that gold had been mined
at from ten cents to three dollars an
ounce, and it was unfair to say that sill
YER was cheap metal.
Discussion proceeding under the five.
minute rule Mr.. Daniel (dem., Va.),
opposed the amendment proposed by
Mr.. Butler (pop., N. c., requiring the
secretary of the treasury to pay out
gold or silver, as the case may require,
when the two metals were not at q
parity, as one that was impracticable
Mr. Lindsay dem, Ky.) held that
the proposed amendment was contrary
to the very principle on which the
friends of free coinage based their
claims
Mr.. Buffers amendment was defeat
ed, 13 to 60.
Mr.. Allen (pop. Neb.) offered an
amendment depriving the secretary of
the treasury of the power to issue
bonds without the proper authority of
congress.
Mr.. White dem. Cal.) thought it un-
wise to load the measure with
"Greek" amendments. Gifts of that
character might result in the defeat of
the substitute.
Mr.. Aliens amendment, prohibiting
the future issue of bonds without con-
gress having declared the necessity
therefore, was defeated by a vote of 81
yeas and 54 nays.
Mr.. Morrill, rep, Vt.) offered an
amendment providing that the seign-
forage equal to the difference between
the coinage and the commercial value
of the silver shall be retained by the
United States This was so fair q
proposition, he said, that he believed
it would be agreed to.
Mr.. German moved that the amend
ment offered by the committee on
finance be laid upon the table. 1t was
defeated by a vote of 43 to "a.
Mr.. Morrill's amendment relating to
seigniorage, the difference between
the coinage and the commercial value
of the silver proposed to be coined,
was defeated by a vote of A to 33.
At 1920 o'clock Mr.. Baker rep,
Kas.) desired to offer his amendment,
limiting the coinage to the American
product, and Mr. Lodge rep, Mass.
his amendment providing for $780,.
900, 900 loan for coast defenses.
Mr.. Cockrell dem, NO. and Mr..
Harris (dem., Tenn insisted that the
agreement stipulated the final vote on
the substitute should be taken at
o'clock. Al parliamentary wrangle
then followed. Various amendments
were withdrawn, and the final vote on
committee amendments was proceeded
with. The committee amendments
prevailed by vote of 43 to "a.
So the free coinage substitute was
agreed to-
Mr.. Lodge, when the bill was taken
from the committee of the whole to
the senate, offered his amendment
providing for the issue of one hundred
millions of bonds for coast defense
loan. Mr.. Teller moved to lay the
amendment on the table, and that mo-
tion prevailed.
The bill as amended by the senate
providing for free coinage was finally
passed by a vote of AZ to 35.