New-York tribune., 1896-01-08
FINANCE IN THE SENATE
FREE COINAGE SUBSTITUTE FOR THE
BOND BILL REPORTED.

MR. CHANDLER's PLAN FOR POPULAR LOAN
ALLEGED ILLEGAL CORRESPONDENCE WITH
FOREIGN PUBLIC MEN-MR. VESTS
VEHEMENT DEFENCE OF THE
ADMINISTRATION.
WASHINGTON Jan THE Finance Committees
substitute for the House Bond bill was reported In
the Senate to-day by Mr. Jones Dem, ArkJ and
was placed on the calendar Mr.. Jones giving notice
that he would ask the Senate to take II up for con-
sideraion tomorrow. and expressing -lc hope that
II would be disposed of at the earliest possible day.
1t was started by Mr.. Morrill, Rep., Vt). chairman
of the Finance Committee. that the substitute had
the approval of a majority Of the committee. but
not of the Republican members OF 1t. plan Tor
making the proposed loan really popular one was
suggested by Mr.. Chandler Rep.. y. HD in the
shape of a bill containing most OF the features OF
postal savings system. Mr.. Chandler explained 1t
at some length. and spoke Of it in somewhat
tocular ven as a complete and perfect panacea
for the existing financial troubles He had 1t re-
ferred to the Posofice Committee. but said tha' ne
would offer II an amendment 10 the Dill OF me
Finance Committee. In connection WIN IL 'herc
was a rather interesting discussion in relation to
the cable correspondence with the frlhce OF "aies
the Rothschnds and other public men IN England
the statute making such correspondence criminal
act being brought TO the attention OF the oeha'e
by Mr.. Lodge (Rep., Mass).
Later on in the day Mr.. Vest u)en, MOI LOOK
the floor and In speech occupying over two hours
and delivered with great earnestness and vehe-
nence defended the Democratic party and the
Cleveland Administration from the structures con-
taned in Mr. Sherman's recent speech, parncuariS
in connection with tariff legislation AS 10 'he
financial question. he declared himself an uncom-
promising adhorent OF the free coinage of silver ana
smoke Of that question as an irreprcss'p' cohnc'
which could not be evaded and which had 10 De
fought to a finish.
There was a fair attendance OF senators "heh 'hr
body met at to-day. and the galleries were Wen
filed Mr. Lindsay dem. Ky) appeared ana look
the oa tn of Office for his new term
In presenting "A petition from the Common 'ouhci
of Worcester Mass. in favor OF the Armenans MI.
Hoar CRep Mass) inquired whether the Committee
on Foreign Relations had iaken any action on the
numerous petitions rcferrcH to it OF the same char
acter He informed by Mr.. Sherman htep''
Ohio, its chairman. that the Committee on Foreign
Re.ations was animated by a most earnest desire 10
relieve the Armenans. il possible. but had not yet
taken the subject into consideration The commit
tee had only recently been appointed and the matter
had not yet been reached.
Mr. VOORHEES, dem. Ind presented memorial
OF the Yearly Meeting OF Friends in Indiana depre
eating war between the United States ana Hrea,
Britain as an unparalleled calamity" and urging
an international agreement to refer controversies
between thcse two nations TO court OF arbitration
Referred To the Committee Foreign Relations
FREE COINAGE BILL REPORTED.
Nir Jones ODcu ArkD reported from the Commit
tee on Fnarcc the House bond h!ll with subsu-
trte and gave notice that io-morT2w, Immediately
after the morning business he would ask the senate
to take II NJ for consideration. He hopci that IL
would be disposed Of at tn" earliest possible day
Mr. Morrill, dlep. VIZ. chairman Of M Commit
toe on Finance. stated that the substitute was ap-
proved by a majority of the committee bu' not By
I'm full and WAS placed on the calendar.
\ ion, resolution concerning the con.p.'ton OF the
public building at Mankato. M!nn. ~ns reported ana
passed.
4 BIZ relating 10 nnnl proof Ia ,mber-culinre on
tres ALLOWING proof 20 u taken before 4 ni''+
States Court Commissioner or clerk Ok any
court o, record wns reported hy Nr Peii.g""
Uep : ID from the Committee on Public Lands.
aud was passed.
4 Joint resolution was introduced hv Mr Noor-
hces dem. Iud.t. authorlzlns General casey uh
charge OF tie n.w Library Buid.ng' to contract
for work y.t TO be done. 20 have the N"f@
completed within year from this time AMI within
the appropriation made for the purpose. In col
loquv on the subject f. Was SAID that there would
be- a surplus OF 1920. "a thing never known be
fore in regard any public building The JOINT
resolution was passed
\ resolution was also offered 10y MI voorhees,
and referred 70 the Library Committee FOR the pur
chase n, 81, os portrait OF the late Allen q
Thurman now harging In the room oi the Senate
judiciary Committee.
Al the request 90 Nr. Elkirs nsep.. ". NaD. his
resolution requiring United States bonds to be
Issued after pubic advertisement Was f'ierfed 10
the Finance Committee.
Mr. Turp.e Dem Ind.) introduced a bill increas-
ing pensions for total deafness from so TO 30 a
month. and made an appeal in favor OF the propo-
s!tion. Referred.
The House Joint resolution TO I'll the vacancy on
IN. BOARD Of Regents Of the Smithsonian lnstitu-
ton by the appointment OF William l.. Wilson. OF
West Virginia. was passed
MR. cHANDLER's POPULAR LOAN BILL"
Mr. Chandler usep.. y. ID introduced a Popular
Loan bill and proceeded 20 explain H. lie referred
TO a paragraph in a dispatch from one Of the
Rothschilds stating that until the boundary ques-
ton was settled the European public or capitalists
would not take American bonds for investment
What he asked did RothschId mean by that? He
meant that America should agree to LORD salls-
bury's proposition and allow Great Britain 10 take
substantially all Of Venezuela that she needed ana
refer to arbitration the question whether she
should have the rest or not. u-dughterJ In lhat
view Of the situation. II seemed to him that 1t was
time for the American people and the American
Governmens whether they could not raise
among themselves the money necessary TO carry
on the Government He was satisfied that this
could be easily accomplished by a suitable appea
TO the people Of the United States lie feared that
the 800 O1 900 bond call would not result we'll The
people were called upon there to bid and to fix the
price themselves. They did not want popular loan
like that. They wanted something immediate In its
operation They wanted something which would
allow not only rich people. but poor people to come
TO the front and pour their gifts into the Treasury
for the National needs and for the public welfare
Ie read the first paragraph of his bill. which pro-
vldes for postal savings notes bear Interest for
five years, and to be repaid In the sort OF money
deposited whether gold silver paper. lie said
that he did not regard the recent Treasury notice
az announcing popular loan In satisfactory form.
He was grateful 10 the Secretary for needing the
voice OF the people as expressed In the Senate the
other day by the Senator from Nebraska (Mr.
Allen) and oihef trbunes Of the e-daughter)-
but he did not regard 1t az wise method Of test