Marietta daily leader. (Marietta, Ohio) 1895-1906, 1896-01-06
THE POLITICIAN.

gree with him as well as by those who
agree with him. His offering of the
following resolution was one of the
greatest surprises that the present ses-
sion of Congress has produced: Re
solved, That by injudicious legislation
by the Fifty third Congress the reve-
nues of the government were reduced
the fund created by law for the redemp-
tion of the U. S. notes has been invad-
ed to supply such deficiency of reserve,
that such misapplication of the re-
sumption fund is of doubtful legality,
and greatly injurious to the public
credit, and should be prevented by re-
storing said fund to the sum of not less
than 800, 900, 900 in gold coin or bull
lion, to be paid out only in redemption
of q. 5. notes and Treasury notes, and
such notes when redeemed, to be reis-
sued only in exchange for gold or bull
lion." Senator Sherman made
set speech in favor of the adoption of
the resolution, and no speech delivered
tened to by the Senate. 1t is impossi-
BILE to say at this time whether either
the Senate or the House will adopt the
resolution. The prejudice against the
retirement of the L. S. notes green
backs is widespread in Congress, and
for that reason it would seem that such
a resolution could not be adopted.
But, while the adoption of this resolu-
tion might result in the temporary re-
tirement of some of the greenbacks it
would only retire those presented for
redemption. In other words, it would
leave it for the speculators in gold to
decide whether it would pay them to
get gold upon such terms, and Senator
Sherman believes the knowledge that
the greenbacks so presented would be
even temporarily retired would deter
the spectators from presenting them.
He also believes that if any greenbacks
were thus returned that as soon as the
revenues of the government reached
surplus stage they would be exchanged
for gold, as was often done when the
governments revenues exceeded it's ex.
penditures. Such a resolution is too
important to be hastily acted upon.
1t will go to the Senate Finance com
mittee for careful consideration.
The Senate Finance Committee has
been hard at work on the House tariff
bill this 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 probabilities all favor it's pas
sage.
Chairman Dingley, of the House
Ways and Means committee, character
ICES the December Treasury statement
as a palpable fraud, and shows that
true statement of the receipts and eX-
penses of the government for December
would show deficit of more than So,
100000, instead of the half million sur
plus claimed by Secretary Carlisle's Of
fetal report
Senator Elkins has offered a resolu-
tion the adoption of which might block
Mr. Cleveland's new bond deal with
the bankers syndicate. 1t declares the
sense of the Senate to be that no L. S.
bonds should be sold at private sale or
by private contract, but they should be
advertised and sold to the highest bid
der.
The Naval inspection board has
made its report on the battleship Texas
and as result the Texas will proba-
bly, go out of commission and be sent
TO the Norfolk Navy Yard to have her
bottom strengthened and other defects
remedied, The Texas is the result of
very brilliant idea which got into the
head of Hon. w. c. Whitney, when he
was Mr.. Cleveland's Secretary of the
Navy. He thought the English could
design better ships than the Ameri.
cans, and he paid out good American
money to Englishmen 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 it was seen that
the original plans would have to be
modified to a considerable extent in
order to prevent the launching being u
sinking. Newspaper readers are famil-
lar with the series of mishaps which
the Texas has met during the short
time she has been in commission. If
ex-Secretary Whitney has followed the
Texas, as he doubtless has-in the
newspapers, not literally-he proba-