The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1896-01-30
meant to say that the relief proposed was

meant to say that the relief proposed was
what the executive desired. -
Mr.. Sherman said it was not for the
president to determine upon the nature of
the legislation That was for the house
of representatives under the constitution.
Mr.. Gray Dem.) of Delaware asked
Mr.. Sherman where this tariff bill was.
Mr.. Sherman-I refer the gentleman
TO the senator on his right Zones Of
Arkansas).
Mr. Jones DEM Of ArkaDsas-That
bill is in the hands of Il Republican com
mittee ON finance.
Mr.. Shenandoah finance committee
is today practically Democratic One Of
the committee has severed himself for
the time from the Republican members
of the committee But il is important
to be understood that one Democratic
vote will authorize a report at any time
Mr.. Teller asked if Mr.. Sherman
thought the bond bill would afford relief
Mr.. Sherman answered that he did
The government has suffered heavy loss
es from selling per cent bonds and this
afforded an opportunity for 3 per cent
bonds.
Mr.. Teller asked how long it was in
tended to keep up the sale of bonds.
Mr.. Sherman--As long as it is ncccssa-
ry to meet the governments need caused
by the course of this administration.
"ln the meantime" continued Mr..
Sherman. "the Republican party stands
here ready to do its duty to pay the public
debt, to overcome deficiencies, 10 realize
sufficient revenue"
Mr.. Teller referred to the selling Of
bonds for the purpose of securing gold.
IF there had been no deficiency ther,
"a mn nT ,,,lJ un;,
Mr.. Sherman.
''Thc gold has remained in the treasury
for years, but as soon AS there was II de-
hciency the gold began to go because
the gold was used to pay current eX-
penses. This administration has
caused fright about gold losses. The
banks-to their discredit-joned in the
fright. Banks seeing the government
using the gold have adopted the same
course. Instead of maintaining their
bank reserve in notes they drew gold for
their reserve"
In conclusion Nr. Sherman said: "As
far as my voice can go, | want il under
stood that this delay arises out Of the
discussion of an old WORKOUT issue, the
free coinage of silver, while we should be
turning our attention to the practical
remedies before u.s."
Mr.. Teller responded with spirit.
The senator (Shermam and his associates
on the Republican side, he said, offered
no monetary system. They stood prac-
ucally with the president. The senator
from Ohio could not get up and lecture
him as TO urging measure that could
not become n law. This bond bill could
not become d law. If there was to be q
play of politics, ut would effect bond bills
as well as silver"
Mr.. German Dem) of Maryland
answered Mr.. Sherman's statements
concerning the treasury administration.
He declared that the course of the treas
ury now was the same as that under Sec
rotary Foster and as far back as under
Senator Sherman as secretary The
Democratic congress had enacted a reye-
nue. law which would have afforded
ample revenue But the income tax
had been wiped out by the decision of the
supreme court of the United States. 1t
was an unforeseen event The question
now was not of party or politics. The
senate aisle could not determine the ele-
ments on this great financial subject. 1t
was too great, too serious question that
senators should stand here bandying
charges as to which party is responsible
for the present conditions.
Mr.. Aldrich Rep.) of Rhode Island and
Mr.. Lindsay Dem) Of Kentucky joined
issue as to the political responsibility for
the deficiency.
At 5:2S p. m. the senate adjourned
until tomorrow.