The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1896-01-10
ATTACK OF SHE.R Man
Il

4 IEiAs5rs lPERLY.
A RESOLUTION ahtroduced Demanding the
Restoration OF the Reserve to S1OO,OOO,-
GOO and Requiring its Maintenance at
that Point.
WASHINGTON, Jan. l.-Senator Sher-
man of Ohio introduced in the Senate
to-day the following: 'sResolved,
That by injurious legislation by the
Fifty-third Congress, the revenues
OF the government were reduced below
it's necessary expenditure and the
funds created for lawful redemption
OF United States notes have been in
vaded to supply such deficiency of
reserve; that such misapplication of
the resumption fund is of doubtful
legality and greatly injurious to the
public credit and should be prevented
by restoring said fund to the sum of
not less than $l00,OOO,OO0 in gold coin
or bullion, to be paid out only in the
redemption Of United States notes and
Treasury notes, and such notes. when
redeemed, to be re-issued only in ex-
change for gold coin or bullion
When the Senate met Mr. Perkins,
Republican, of California asked unan-
imopls consent for the consideration of
q resolution directing the committee
on finance to report an amendment to
the House tariff bill laying an addi-
tionaL duty on raw sugar equal to the
other increases of the bill.
Mr.. Berry of Arkansas objected
It was agreed to adjourn over till
Friday
Mr.. Morrill, OF Vermont explained
that the finance committee desired to
consider the bond and tariff bills on
Thursday.
Mr. Chandler's resolution, offered
yesterday, asking the committee on
naval affairs to investigate the prices
paid by the government for armour
plate and as to whether any official of
the government was interested in
patent processes, was. called up. AT
the suggestion Of MIR. German the
words directing an inquiry into the
facts as to whether the prices paid by
the United States were ssas. low as
paid by the foreign governm ents''
were stricken out.
The resolution was adopted.
Mr. seerman then introduced his
resolution, which was listened to with
keen interest, in view Of the Senator's
utterances against the retirement Of
green backs. He gave notice that on
Friday he would submit some remarks
upon It, g Ill
Mr. Mitchell of Oregon then took the
floor and spoke in favor of his resolu-
ton instructing the finance committee
to restore the Mckinley duties on
wool in any revenue bill reported to
the Senate. g
Senator Mitchell declared that no
industry had received such stagger-
ing and deadly legislative blow as that
inflicted upon the wool industry by
the Wilson tariff act 1t had drained
from the United States within the last
year $50, ,oo0, 600 in gold to pay for for
eign wool and had occasioned a loss
to the wool growers Of this country of
more than 81 100000. Unless this leg
islation was changed the sheep indus
try of the Pacific coast would be an
INITIATED.
Mr. Mitchell said the tariff bill
passed by the House would probably
increase the revenue $40, ,OO0, 600 year
Amended, as it should be- by afford
ing was', q. ofsu Lumber, barley, hops, and
protecti ro i1l give gsauss an additional dfaonsl
revenue $60,O0o,o0o, and place a
paddock upon the so-called 'sendless
CHAIN hy..Awhich gold is drawn from
the tFleW, will stop all necessity
for 70 tissue of bonds and rescue
from snding ruin the wool and
other agricultural interests of this
country.
While Mr.. Mitchell was contending
that the Secretary Of the Treasury
could have stopped the gold drains bv
using his discretion to redeem notes in
coin, Mr. Hill Of New York asked him
If it was not true that greenbacks had
been redeemed in gold by every secre-
tary since 1879.
Mr. Mitchell replied that it might
be true, but in his opinion it was very
poor policy.
Treasury notes have only been re-
deemed in gold since 1891, interrupts
ed Mr. Cockrell of Missouri.
us that a fact?" asked Mr.. Mitchell.
cit ISL replied Mr.. Cockrell en-
phatically. In 1888 in response to a
telegram sent by me to Secretary Eos
ter he replied that the first treasury
note had been redeemed by him in
gold in 1891"
81 am talking about greenbacks,' 2
said AIR. Hill.
s.Have not all the Secretaries of the
Treasury redeemed these notes in gold
ince I579?"
..Green ba cks were never presented, .
said Mr. Cockrell.
s.There was no demand for gold ano
that can be shown on herecord. The
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