Idaho County free press. [volume] (Grangeville, Idaho Territory) 1886-current, 1896-01-03
The BOND BILLS PASS
The Opposition Fell Short a Nun
Der Of Votes.
IHE HOLIDAY REST IN ORDER
An Inquiry as to Ambassador Bayard' 5
Speeches in Great Britain Will
Be Made Officia Iy.

ody passed the Dond Dill by vote OF 40
to 1876 and thus having discharged the
task for which it has been sitting dur
ing the recess. effected an agreement
by which the house should adjourn next
week for three days at a time in order
TO give the members an opportunity to
spend New Years day al their homes
Inc closing hours of the debate today
were lacking in spirit and there was
practically no excitement until the vote
was taken. The margin of SO by which
the nrst section of the bill against
which the republican opponents of the
measure massed their opposition, was
passed, showing that the friends of the
measure had marshalled every availa-
BILE vote in its favor.
AS it was AT republicans refused to
act with the majority of their party.
The populists and democrats with the
exception of Mr.. Hutchinson of Texas
who voted for the BILL presented an
unbroken front against the bill
THE BILL AS PASSED.
The bill as passed amends the resump-
ton acts so as to permit the issue of 3
per cent coin bonds redeemable after
five years at the pleasure of the govern
ment and payable in Is years, with the
specihc provision that nothing in the
bill shall be construed to repeal the
and that the bonds shall first be offered
for subscription at the sub treasures
and repositories of the United States.
The second section of the bill provides
Tor the issue of threeyear 3 per cent
debt certificates of denomina tions of
$40 and multiples thereof in amounts
not exceeding $50, 900, 900 to meet temper
airy deficiencies
THREE HOURS DEBATE.
When the house convened today but
three hours remained for debate on the
bond bill. The vote, by the terms of the
rule under which the house was operat-
Ing, was to be taken at o'clock
Mr.. Brosius of Pennsylvania opened
the debate in favor of the bill This was
the only country on the globe, he said,
where gold redemption had neither
qualification nor limitation and where
the treasury was without the power to
resist the incursions of foreign gold
grabbers or domestic SPECTATORS
Mr.. Parker of New Jersey favored the
bill as a good business measure.
Mr. McLauren of South Carolina OPP
posed it because it would increase the
burden of a people already tax-ridden
and would tend to legalze a series of
usurpation of power by the
secretary of the treasury. If
the secretary would use his dis
erection and redeem notes in silver the
gold raids would stop and new hope
would be infused into the democratic
party, now crushed by the financial
policy of the administration.
Mr.. Cannon of Illinois, in support of
the measure, declared that it was bill
to maintain specie payments which had
been resumed under the wise discretion
of the republican party in 1879
You on the other side will vote
against this bill; those in favor of silver
at 10 to 1, because you want to impair
the credit of the country and force us
to silver basis; those who support
the administration because 1t wants
gold bonds. We in our Judgment and
patriotism stand ready to pass this bill
If it is rejected by the senate or the
president, we shall at least have cast
our mite toward the protection of the
public credit and have given prophecy
of what we shall do when we come into
full power in 1897
Mr.. Bartlett of New York announced
that in his opinion the pending bill, in
stead of strengthening the financial
ability and credit of the government.
would lead to further panic and avowed
that he was for the maintenance of the
gold standard until the powers of the
world agreed to the coinage of silver.
of the bill, called attention to the presi-
dents urgent appeal to congress to do
something before adjourning. He knew
and everybody knew that gold bonds
would not be authorized by congress
and because congress would not give
him authority, he and his secretary of
the treasury had already reopened ne
gotiations with the same old malodor-
Gus syndicate for another issue of 4
cent Of hA
try were to be given no opportunity to
subscribe.
Mr.. Bailey of Texas, in outlining the
attitude of the silver democrats, said
that they had decided to offer as a sub
stitute for the bill a measure that would
in his opinion render the further sale
of bonds unnecessary. AS plain bust
ness proposition, the treasury should coin
the silver seigniorage. That would fur
nish the treasury $4,000, 900 of addi-
tional assets. Successive gold with
drawals and bond issues might be
forced until the public debt was in
creased Indefinitely.
Mr.. Burton of Missouri and Mr.. Con-
molly of Illinois. who had been counted
on as opponents of the bill. gave their
support to 1T in brief speeches.
PAY IN GOLD ONLY.
Mr. Payne called attention 70 the fact
that the administration was already
preparing to issue 500, 000 900 of 30-year
bonds. This was the emergency that
this bill met by reduction of interest.
1.-THE presidents message interrupt
ed Mr.. Linney of North Carolina, Says
that the 1856, 900, 900 of silver certificates
issued against the bullion purchased
under the act of 1890 constituted gold
obligations. Why did not the ways
and means committee provide for the
coinage of that bullion and the redemp-
ton of these notes in silver?"
1.-The secretary now has authority, to
coin and redeem the Sherman notes."
said Mr.. Payne, but one thing at a
time. The bill proposes to give the gov
eminent power to redeem United States
gold obligations in gold
He argued that the purpose of the adj
ministration was to sell the bonds to
the Morgan syndicate at an exorbitant
rate of interest and throw the RESPONSE
bility on a republican congress.
Mr.. Russell of Connecticut supported
the bill briefly and Mr.. Crisp then
closed for the democratic side. and Mr..