The Roanoke daily times. (Roanoke, Va.) 1895-1897, 1896-01-04

WASHINGTON, ian. 3.-The Senate
heard stirring debate to-day, the bond
question being the main theme. Mr..
Sherman's speech, which had been an
ttcipaseo with much interest for some
time, initiated che financial discussion.
The veteran Senator was in good voice,
and his speech was closely followed
throughout. he attribute the present
financial situation solely to the lack
OF revenue caused by the enactment of
the Wilson tariff law, and asserted
that, while the Congress would sun
port the President IN the field Of di-
plomacy and foreign relations for the
honor and integrity of the nation, it
would not adopt his financial recon-
mendationa.
Mr.. Sherman launched into an elab-
crate calculation of the requirements
necessary to meet the present mono.
tary crisis md inveighed strongly
against the Presidents proposition to
retire the groenbsckS permanently. He
insisted thss at the proper revenue, as
under tho Mckinley law, the gold re-
serve would have rem aimed at the SlOO, =
100000 mark and the present serious
conditions of tho nations finances
might have been averted. He. however,
thought q bond issue could not be
averted, and, under the circumstances,
he believed 1T to be one way out of the
crisis confronting the Treasury.
Senator Sherman's speech created q
profound impression upon the Senate,
but 1t was merely prelude to hn unex-
pected financial controversy, vigorous
and personal in character. Mr.. Elkine,
of West Virginia, sought to secure an
immediate vote on his resolution direct.
ing that all bond Issues be advertised,
and the bonds offered to tho public Mr..
Hill sought to have tho resolution re-
ferred to committee, but on q roll call
the vote was overwhelmingly in favor
OF proceeding with the question. Only
six negative votes were cast, viz: Chill
ton. Caffery, Hill, Mitchell, OF Wifcon-
sir, Murphy and Brice,
Mr. Hill spoke vigorously against the
resolution. He asserted that MIR. Sher-
man, when Secretary OF the Treasury,
had made. bond contracts with Now
York syndicates similar to the one now
assailed. This brought on sharp per-
sonal debate, in which Mr.. HILL, Mr..
Sherman. Mr.. HoRr, Mr.. Teller and
Others participated. At $3.50 O'CLOCK the
Senate agreed to adjourn, although tho
motion carried by q bare m,jority OF
one.
During the day Mr.. Morrill,, from the
finance committee, reported tina. the
tariff and bond bills would be ready on
Tuesday, to which day the Senate ad
journed. At the conclusion of Mr.. Sher-
mans remarks, Mr.. Butler (Pop., N.
o. renewed his request for the imme-
date consideration of his bill to pro-
hibit the future sale of bonds except
with the consent of Congress-. He
argued that this was no time for discus.
sion. The newspapers this morning n sd
told tho story of the impending bond ia.
aue. Action should he had 81 once.
Every Senator understood the question
and should be ready to vote. Mr.. But
Ter talked for some minutes aud finally
asked unanimous consent to put his bill
upon It's passage.
Mr.. Hill, who happened to be in the
chair, rather startled the Senate by
himself interpreting an objection. Mr..
Mills (Dem Texas) then took the foo,
to reply to Mr.. Sherman. He repealed
the charge ,hat the Wilson bill or the
Fifty third Congress was in anyway re-
sponsible for the present fin anc;sl crisis.
The burden belonged to the Fifty-flrs
Congress and Mr.. Sherman was partly
responsible for the legislation Of that
Congress- The Democrats had turned
over to tho Harrison administration in
1889 $3.50, 900 600. How was It, he asked,
II the claim that the Mckinley bill had
produced sufficient revenue that in 1898.
when the Democrats again assumed
control, and that surplus w.s gone, con-
sumed and dissipated?
The resolution OF Mr.. Elkins )Rep :,
w. Vs.) was taken up. 1t directed the
disposal OF bonds by public sale. Mr.
Elkins spoke vigorously in support of
the resolution. He referred to the fact
that petty government officials were
compelled to make contracts after due
and Secretary OF the Treasury were en-
.irely relieved of this valuable safe
guard.
II desire 3 vote on this rasolu tion,"
said Mr.. Elkins in conclusion.
But THE resolut on was taken up
merely to permit the Senator to make q
speech" said Mr.. Hill.
81 move to proceed to the considera-
ton of tho resolution" said Mr.. Elkins.
Mr.. Hill sought to objecs, but was cut
off by the Vice Presidents ruling that
the motion was not debasable. There
upon the vote was tsken, resulting in
an overwhelming affirmative vote fav.
orable to proceeding with vote on
the Elkins resolution. only the six
Senators mentioned being recorded in
tho negative.
Mr. Hill at once moved to refer the
resolution 20 the finance committee.
Let US vote on that now" said Mr..
Teller.
mo, rot jlst yet" responded Mr..
HUI. There can be no vote on this
resolution for the present"