Crawford avalanche. (Grayling, Mich.) 1879-19??, 1896-01-09
wAsHINGroN LETTER.


4
who agree with him. His Offering
Of the following resolution was one
Of the greatest surprises that the
present session of Congress has pro-
duced:
REsoLvED-That by injudicious leg
islation Of the Fifty-third Congress
the revenues of the government were
reduced below It's necessary expendi-
lures, and the fund created by law for
the redemption of the u. S. notes has
been invaded to supply such deficiency
Of reserve, that such misapplication
of the resumption is Of doubted legal
ity, and greatly injurious to the pub
lie credit and should be prevented by
restoring said fund to the sum of not
less than 800, 600, 900 in gold coin or
bullion, to be paid out only In re-
demption of United States notes and
Treasury notes. and such notes when
redeemed, TO be reissued only in ex-
change for gold coin or bullion.
To-day Senatsr Sherman made a
set speech in favor of the adoption
of the resolution, and no speech d e
livered at this session has been so
closely listened to by the Senate. 1t
Is impossible to say at this time
whether either the Senate or the
House will adopt the resolution. The
prejudice against the retirement OF
the U. s. notes (greenbacks) is wide
spread Ia Congress, and for that rea-
son 1t wonld seem that such reso-
luton could not be adopted. But
while the adoption of this resolution
might result in the temporary retire.
ment of some of the greenbacks, IL
would only retire those presented for
redemption. In other words it would
leave 1t for the SPECTATORS in gold
to decide whether it would pay them
to get gold upon such terms, and
Senator Sherman believes, the know
ledge that the Greenbacks so present.
ed would be even temporarily re-
tired would deter the spectators
from presenting them. He also be-
lieves that If any greenbacks were
thus returned that as soon as the
revenues of the government reached
surplus stage they would be ex-
changed for gold, as was often done
when the governments revenues ex-
ceeded it's expenditures. Such a res
olution is too important to be hastily
acted upon. 1t will 20 to the Senate
Finance committee for careful con-
sideration.
TheSenate Finance Com mittee has
been hard at work on the House tar
iii bill this week, and Senator Nor
riil, the new chairman of the COM
mittee, expects to set it reported to
the Senate at once. Unless the DEM
ocrats act different from the way
they talk an early vote will be reach
ed on TIE bill, and the probabilities
all favor its lcssage.
Chairman Dinghy, Of the House
Ways and Means con- mittee, charact-
erizes the December Treasury state
msnt as palpable fraud, and shows
that true statement of the receipts
and expenditures of the government
for December would show deficit
of more than SO, 500, 900 instead of
the half million surplus claimed by
Secretary Carlisle's official report.
Senator Elkins has offered a reso-
luton the adoption of which might
block Mr.. Cleveland's new bond deal
with the bankers syndicate. 1t de-
clares that the sense of the Senate to
be that no U. s. bonds should be sold
at private sale or by private contract,
but they should be advertised and
sold to the highest bidder.
The naval inspection board has
made its report on the battleship
Texas, and as a result the Texas will
probably 60 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 a very brilliant idea
which got in to the head of Hon. w.
@. Whitney, when he was Mr. Cleve-
lands secretary of the navy. He
thought the English could design
better ships than the Americans, 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 1t was seen that
the original plans would have to be
modified to considerable extent in
order 10 prevent the launching being
q sinking. Newspaper readers are
familiar with the series of mishaps
which the Texas has met during the
short time she has been in commits
sion. II ex-Secretary Whitney has