Cottonwood report. [volume] (Cottonwood, Idaho) 1893-1901, 1896-01-03
|lI| Bii s PASS
An Inquiry rs to AmbaSsador Bayard's
speeches IN. Great Bfftain WIN
Be Made Off ella ly.
"a va D q a

80 III IL N II
Washington, De6f 2S.-AThe house to
day passed the bond bill by vote OF IL
to 1876 and thus having discharged thu
task for which 1t has been sitting dur
ing the recess. effected an agreemen
i by which the house should adjourn mex
week for three days at time in order
TO give the members an opportunity tc
3 spend New Years day at their homes
The 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 first 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-
bic vote in Its favor.
As 1t was AZ 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
1nbroken front against the bill.
THE BILL AS PASSED.
IL billtas passed amends the resump-
cts soEas to permit the issue of 8
coin bonds redeemable after
4 ~ At the pleasure of the govern
mert and payable in Is years, with the
specifle l}fovision that nothing in the
bill shHN be construed to repeal the
act OF 1873 Tor the reissue of greenbacks
ana that the bonds shall first be offered
FOR subscription at the sub-treasuries
and repositories Of the United States.
The second section Of the bill provides
for the issue of three-year per cent
debt certificates of denominations of
$40 and multiples thereof in amounts
not exceeding 100000 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
Mr.. Parker Of New Jersey favored the
bill as good business measure.
Mr.. McLauren of South Carolina OPP
posed 1t because it would increase the
burden Of people already tax-ridden
and would tend to legalize 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 a 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 l6 to l, 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.
II 1t 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 a prophecy
OF what we shall do when we come into
full power in 1872
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
Woriu agreed to the coinage of silver.
Mr.. Tawney of Michigan, in support
OF the bill, called attention to the presi-
dents urgent appeal to congress to do
something before adjourning. He knew
ana everybody knew that gold bonds
would not be authorized by congress
ana because congress would not give
MIN authority, he and his secretary of
the treasury had already reopened ne
EQUATIONS with the same old malodor-
Gus syndicate for another issue of a
per cent bonds. The people of the coun-
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 measure that wouId
N his opinion render the further sale
of bonds unnecessary. AS a plain bust
ness proposition. the treasury should coin
the silver seigniorage. That would fur-
nish the treasury $4,000, 900 of addi-
Lional assets. Successive gold with
1rawals and bond issues might he
forced until the public debt was in
creased Indefinitely.
Mr.. Burton of Missouri and Mr.. Con-
lolly OF Illinois. who had been counted
IN as opponents of the bill, gave their
support to 1t in brief speeches.
PAY IN GOLD ONLY.
Mr.. Payne called attention 20 the fact
hat the administration was ALREADY
preparing to issue 500 600. 900 of SO-vear
.onds. This was the emergency thai
mis- bill met by a reduction of interest
the presidents message" lnterrunt-
q Mr.. Linney of North Carolina. "savs
hat the s155,oOO,ooO of silver certificates
ssued against the bullion purchased
lnder the act of 1890 constituted gold