The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1896-01-04
EXCITING SESSION
Senate Takes Up the Bond Question
in Debate.
"AND WHO II THIS MORGAN?"
rlkins aad nil Make Sensational Speeches
1.-The People Should have Chance
20 Take Bonds.
"AND WHO Is THIS MoRGAN9'
h,.eelai to the AntorIan.

hi@cial 10 the Autorian.
Washington. Jan, a-'rho senate heard
a stirring debate today. tho bond ques'
tlon being the thomr Sherman'u speech
initiated the financial discussion, Elkin
sought TO secure an immediate vote on
his resolution directing that all bond Is
eura be- advertised and tho bonds offered
90 the public. iiil attempted 10 have
tho resolution referred 20 n committee.
but oa roll call tho vote vas overwhelm-
lngly In favor Of proceeding With tho
question The senate Ihen agreed TO adj
jnufn. although the motion was carried
by = hare majority OF or9, During the
day Morrill,, from tho fnanc' committee.
reported that the tRrir and bond bills
would bo ready Tuesday. 20 which day
the senate adjourned,
slkinn' resolution directing the disposal
Of tho bonds by public sale was taken
M ana discussed for over three hours
today, but was not disposed OF when tho
senate adjourned tili Tuesday.
E.ikinn reviewed the commissions paid
for floating iuann during the war. 10
show the enormous eNtortlon OF the syn
al, atcn who had taken M the loan OF
the present administration. Only about
s.. 1no00 had been paid In commissions
on loans aFgrcsatinR tg.S0. zoo 90 during
the war In other words. the bond syn
dieaic had made moro In placing a loan
Of N2ooooQ0 than was paid for floating
tho entire war debt The war loans were
noa,rd among the people. as all loans
should be-
II was said that one banker was 20
obtain 100000 commission for Heating
tho contemplated loan OF tiOO.oooooo The
people were unable TO comprehend such
reckless and wanion waste OF millions.
lie insisted that the people would take
the bonds at much higher figures than
those paid 10 tho government. The credit
Of the country was unaAsailable. we
are lmmcasurcahly the richest country on
the globe"
Hnl declared that the banks and syn
dicRtrs frequently pushed forward the
public TO disguise their own trnnsac.
iions' The senator rrad IN detail the
bond contract made In is1s 10 which the
flames of the scllgmans. Bclmon,s. Nor
Rans and representatives OF the Roihs-
chlids were appended.
And who was secretary OF the treas
ury at that timeF" asked Turpie.
1t was the distinguished public man.
the senator from Ohio, John Sherman"
replied Hlll with great vigor. "who are
the men In this present syndicateG" ask
cd Hill, who Is this Morgan. OF whom
We hear so muchs ls not this the Nor.
gan who furnished the sinews OF war 20
the Republican party? There was no
reason to believe that the executive au-
thorllics would seek TO grant special ia
vors 10 this gentleman"
Lodge referred 10 the offcr Of the New
York World to take 100000 OF bonds
This offcr and all others from the pub.
lie should be considered, and the people
be given an opportunity to take bonds.
Teller referred TO the integrity OF the
the results OF the bond sales OF iS71-7S
with those Of iS5. asserting that great
loss 70 the government occurred under
the contract OF last year