Herald and tribune. [volume] (Jonesborough, Tenn.) 1869-current, 1896-01-08
81 A YEAR IN ADVANCE
WASHINGTON LETTER.
From Our Special Correspondent
WASHINGTON, d. c., Jan. 3, '95.

'o"Vor onerman never makes n
speech unless he has something to saw,
ana whenever he does talk he is care-
iuIly listened to, by those who disagree
with him as we'll as by those who agree
with MIN. His offering of the follow
ing resolution was one of the preatest
surprises that the present session of
congress has produced: Resolved.
mat by injudicious legislation by the
Fifty Third Congress the revenues of
the Government were reduced below
It's necessary expenditure, and the fund
created oy law for the redemption of
'ne " 3. notes, has been invaded to
supply such deficiency of reserve that
such a misapplication of the resump.
uon fund is of doubtful legality. and
greatly injurious to the public credit,
anu should be prevented by restoring
SAID fund to the sum of not less than
Sloo,OoO,OOO in gold coin or bullion, to
De paid out only in redemption of U. S.
notes and Treasury notes, and such
notes, when redeemed, to be reissued
only in exchange for gold coin or bul,
Hon." Today Senator Sherman made
set speech in favor of the adoption of
the resolution, and no speech delivered
at this session has been 80 closely
listened to by the Senate. 1t is impos-
slble 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 tgreen,
backs is widespread in Congress, and
lor that reason it would seem that such
resolution could not be adopted.
But, while the adoption of this resolu-
ton might result in the temporary re-
tirement of some of the greenbacks.
1t 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.
de also believes that if any greenback
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
expenditures. Such resolution is too
important to be hastily acted upon.
1t will 90 to the State Finance Com
mlttee 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, ex-
poets to get it reported to the Senate at
once. Unless the Democrats act diff
ferent from the way they talk an early
vote will be reached on the bill, and
the probabilities all favor its passage.
Chairman Dingley, of the House
| ways and Means Commit ttee, charac.
terlzes the December Treasury state.
ment as palpable fraud, and shows
that true statement of the receipts and
expenses of the Government for De.
cember would show a deficit of more
than S3,500,000, instead of the half
million surplus claimed by Secretary
Carlisle's official report.
Senator Elkins has offered resolu-
tion the adoption of which might block
Mr.. Cleveland's new bond deal with
the bankers syndicate. Itdeclares the
sense of the Senate to be that no u. ).
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 battle ship Texas
and as result the Texas will probably
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. G. Whitney, when be
was Mr.. Cleveland's 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 Off
GERS did not hesitate to say that the
plans were bad. Long before the Texas
was half done it was seen that original
plans would have to be modified to a
considerable extent in order to prevent
the launching being sinking. News.
paper readers are familiar with the
series of mishaps which the Texas has
met during the short time she has been
in commission. If ex-Secretary Whit.
ney has followed the Texas,as he doubt
less has-in the newspapers, not liter
ally-he probably doesn't think as
highly of English ship designs as he
did.
Ex-Congressman Brewer, of New
Jersey, while in Washington this week
expressed the opinion that his State
would not send an instructed delega-
tion to the st. Louis convention.
Speaking of the political situation in
that State he said: I'm not very much
interested in politics nowadays, but
think one is safe in saying that New
Jersey has come into the Republican
camp to stay. The strongest argument
that can be addressed to the working.
man is that furnished by his stomach.