Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1896-01-09
WASHINGTON LETTER.
from our regular correspondent
wAsHrsoToE. d. c.. Jan. 0. ls {


carefully listened to by those who
disagree With him as well as by those
who agree with him. His offering OF
the following resolutions was one OF
the greatest surprises that the pres
ent session of congress has produced:
"Resoiued, That by injudicious
Legislation by the fifty-third con-
gress the revenues of the government
were reduced below its necessary eN-
peuditure. and the fund created by
law for the redemption Of the Z. ,.
notes has been invaded to supply
such deficiency OF reserve, that such
a misappIication OF the resumption
fund is Of doubtful legality, and
greatly injurious to the public credit.
and should be prevented by restor-
ing said fund to the sum of not less
than $l00OO0OO0 in gold coin or bull
lion, to be paid out only in redemp-
tion of Z. 5. notes and treasury notes,
and such notes, when redeemed, 10
be reissued only In exchange for gold
coin or bullion"
Friday Senator Sherman made
set speech in favor of the adoption
Of the resolution, and no speech de-
livered at this session has been so
closely listened 10 by the senate. 1t
is impossible to say at this time
whether either the senate or the
house will adopt the resolution. The
prejudice against the retirement Of
the u. $. notes (greenbacks) is wide
spread IN congress, and for that rea-
son ii would seem that such reso-
luton could not be adopted. But,
while the adoption OF this resolution
might result in the temporary retire
ment Of some Of the greenblcks, IL
would only retire those presented for
redemption. In other words, it
would leave it for the spectators in
gold to decide whether it would pay
them to get gold upon such terms,
and Senator Sherman believes the
knowledge that the greenbaeks so
presented would be even temporarily
retired would deter the spectators
| from presenting them. He also be-
lieves that if any greensbacks We're
thus returned that as soon as the
revenues OF the government reached
a surplus stage they would be ex-
changed for gold. as was often done
/ when the governments revenues ex-
ceeded its expenditures. such a
resolution is too important to be
hastily acted upon. twill go to the
senate finance committe for careful
consideration.
The senate finance committee has
been hard at work on the house tar
III bin the past week, and Senator
Morrill, the new chairman Of the
committee, expects to get it reported
to the senate at once. Unless the
democrats act different from the way
they talk an early vote will be
reached on the bill. and the proba-
bilities all favor its passage.
Chairman Dingley, Of the house
ways and means committee, char
acterizes the December treasury
statement as a palpable fraud, and
shows that true statement Of the
receipts and expenses of the govern
meut for December would show a
deficitof more than $3,5O0Oo0, instead
of the half million surplus claimed
by Secretary Carlisle's official re-
port.
Senator Elkins has offered a reso-
luton the adoption of which might
block Mr. Cleveland's new bond deal
with the bankers syndicate. II de-
clares the sense Of the senate to he
that no L. :. bonds should be sold at
private sale or by private contract,
hut they should be advertised and
sold to the highest bidder.
The naval inspection board has
made It's report on the battleship
Taxes, and as a result the Taxes will
probably 20 ont Of commission and
be sent to the Norfolk navy yard to
have her bottom strengthened and
other defects remedied. The Texas
l. tine result III very brilliant idea
which got into the head of Hon. w.
{. Whitney, when he was Mr.. Cleve-
lands secretary Of the navy. He
thought the English could design
better ships than the Americans, and
be paid out good American money
70 Englishmcn for the plans Of the
Texas. although prominent naval
officers did not hesitate to say that
the plans were bad. Long before the
Texas was half done ii was seen that
the original plans would have to be
, modified To considerable extent ia
. order to prevent the launching being
] q sinking. Newspaper readers are
familiar with the series Of mishaps
which the Texas has met during the
short time she has been in commits
sion. II ex-Secretary Whitney has
followed the Texas, - he doubtless