Omaha daily bee., 1896-12-05
1 rEMpDRIRr EXPEnIENr

4 measure for the relief of the treas
| ury which was passed hy the house of
! representatives at the last session and
| for which the senate substituted free
coinage bill, gave authority to the sec
| rctary of the treasury to issue bond,
! bearing interest ut not over , per cent
| per annum, rcdccmablc at the pleasure
of the government after five years and
| payable in fifteen years from their date
such bonds were to be sold at not less
than par in coin and their proceeds
were to be used for the redemption Oi
legal tender notes and for no other pul.
pose Another provision authorized
the secretary to issue certificates of in.
dcbtcdncSS to an amount not exceed.
ing S5O,OOO,OOO, payable in three years
after their date in lawful money of the
United States, with interest at the rat
of per cent per annum These cur
runcy certificates were to provide for
any temporary deficiency existing, or
which might occur.
Legislation of this kind was recon.
mended in the last report of the sccrC-
tary of the treasury and it was de-
fcated by the silver senator's, who con
vCrtCd the measure into free coinage
bill, in which condition it now stands
the house having by Il large majority
refused concurrence. 1t is suggested
that the house may mt the coming seS.
sion ask for Il conference committee"
should there appear TO be any prObu
bility that the bill can pass the senate
governed some of the free silver soma
tors i'm voting against the bill at the last
session may not be so strong as to
lead them to defeat the bill mt this ses.
! sion. 1t is hardly likely, however, that
they will be found less ohdurate than y
their opposition should be unanimous in
order to prevent this legislation \
few of them awaiting themselves Of the
privilege of unlimited debate and of the
flibustcring tactics permitted under the
rules of the senate could defeat it.
I'nquestionaby there is merit in the
bill passed by the house and if it had
become law Il year ago it would have
been of decided benefit to the treasury
and the people. Perhaps it would still
be good policy, as a temporary oNpedient,
TO authorize the secretary of the treas
ury to issue certificates of Indebtedness
to cover deficiency of the revenue.
That would, of course. be IN addition
to the intereSt-bCaring debt, but it would
be in Il form less liable to popular OBJ
lection than an issue of bonds and Tor
time these certificates, payable by the
date, would serve the purpose of cur
rrucy. But if such Il provision FOR
treasury relief would be likely to inter
fore with early legislation to increase
the revenues of the government it would
be of doubtful wisdom. There should
be no obstacle placed in the way of pro
vidng adequate revenue with the least
possible delay. The demand is that def
cits be stopped and the intelligent
judgment of the country will not ap-
prove of any mallcShift or cNpcdientS
for evading or uEduly pOstponing this
most important requirement. The para
mount consideration is to maintain the
SUlyCncy of the government and there
is but one way in which this can b"
done. The treasury must have more
money, the receipts must be brought up
to the necessary expenditures, and no
legislation that does not contemplate
this will be satisfactory to the country.
There must be an end to dcbt-maliing
by the government aIl the plain duty
of the republicans in congress is to di-
rect their efforts solely to this object.