Union County courier. [volume] (Elk Point, Union County, D.T. [S.D.]) 187?-1913, 1896-05-14
the NATIONAL CAPITAL
4 REVIEW OF THE WEEK.
National Bankruptcy Bill After
q Lengthy Discussion
Passes the House.
THE SENATE.

u
THE SENATE.
WAsHlNGToN-ISpecial. by the de-
cisive vote Of 81 to 4 the senate inaug-
urated an investigation, to be conduct
ed by the senate committee on finance
into the facts and circumstances con-
nected with sale OF United States
bonds by the secretary of the treasury
during the last three years. The six
adverse votes were cast by Caffery,
Faulkner, Gray, Hill, Mitchell of Wis
consin and Palmer. all democrats.
The resolution directing the investi-
CATION is very explicit, as follows:
Resolved, That the committee on
finance be directed, first, investigate
and report generally all the material
facts and circumstance connected
with sale of United States bonds by
the secretary of the treasury in 1894
and 1895 and 1896
'Second, to Investigate and report
specially what amount of available
funds classified was in the United
States treasury, and on deposit in
other places, subject to the order of
the secretary of the treasury at the
time the bonds were sold or offered for
sale; whether there was or was not
coin enough on hand to meet all coin
obligations of the government due at
the time and the amount of each
stated separately; what was the rea-
son for any unusual withdrawal of
coin from the treasury shortly before
the bonds were sold or offered for sale,
il such unusual Withdrawals were in
fact made, and by what persons, or
classes of persons, and for what pur-
pose, or on what account, such with
drawRls were made; who purchased
the bonds, in what amounts and where,
whether in the United States or in
foreign countries, and in what proper
tions. and from what persons or classes
which to pay for the bonds; what the
market price of our government bonds
at the time, and what effect The bond
sales had ON the credit and business
of the people of the United States.
"Third, to investigate and report as
to the manner of disposing of said
bonds; by what authority and what
contracts, advertisements or proposals
were made by the secretary Of the
treasury in relation thereto; what
agreements or contracts, and whether
oral or writing, and whether publicly
or privately, were entered into by the
secretary of the treasury and any syn
dictate or person or persons with re-
spect to sale and purchase of bonds,
and the profits made, or to be made,
by such syndicate, or any person or
persons connected with such syndi-
cate directly or indirectly; whether
such contract or agreement had any,
and what, effect on prices offered for
bonds; what such effect was and who
who, il any person, profited by 1t, and
and to what extent"
The bond resolution came up imme-
diately after the morning business.
Palmer, democrat of Illinois, op-
posed the resolution because he re-
Rarded it as an illeffitimate means of
procuring material to affect and in
flame the public mind. Palmer then
reviewed the platform utterances of
both parties. He said It was evident
the financial planks made in Mime
apolis and Chicago would satisfy the
people in the coming election. Palmer
referred to the cowardice OF the candi-
dates for the presidency and for CON-
gress in not being specific in their
financial views, and In this connection
the senator had an article lead from
the desk arraiQntng Mckinley for
his aJanus-faCed" attitude In finance.
"And yet" added Palmer, .all the
indications point to the fact that the
subject Of criticism will DO the repub-
lican candidate for the presidency"
Palmer was speedily drawn into q
hot collouuy with the two Missouri
senators, Vest and Cockrel. The
former wanted to know what Palmer
meant by reference to "snap" conven-
tions favoring silver"
" mean" replied Palmer, +" the con-
vsntions held last year in Missouri
and Illinois."
AWhat Vas the snap feature Of the
Illinois convention?"
IAN unnecessary convention Is Q
snap convention" declared Palmer.
*These convention were called to
commit the democracy In advance Of
the free-silver- dogma"
Cockrell answered sharply that her
Missouri convention was one OF the
most representative gatherings ever
held. &c was called because the dem
ocracy was being misrepresented and
a attempt made to commit It to gold.
Vest declared the Missouri Conven-
ton WAS response to the people.
ssThe people led, !" and addsd Vest, sthe
pAople assembled In conventions, and
any man who tries to stop them will
BE- crushed. Manhood and dscency
will no longer permit rs to stand here
and be accused Of advocating 'unsound'
money and Of assemblin snap con-
ventions."
Vett turned his attention to the
recent Michigan democratic state con-
vention, reading from N article writ
ton By one Of the delegates who had
participated Tin that shameful scene."
The article detailed the action Of .sback