Evening journal., 1896-01-01
SHERMAN HAS A PLAN.
1t Is a Scheme to Build Up the
Gold Reserve.
SECRET CONTRACTS CONDEMNED
senator Elkins Onors Resolution Pro.
hibitin- Private Bond saies-senator Mel.
son Talks on tho Financial Questlon-The
Work In che Senate and House.


Work In che Senate and House.
WAsHINGToS Jan. 1.-The senate held
two hours session, in the course OF
which Mr. Mitchell Rep of New York
spoke at considerable length on his roso-
luton providing for tho restoration OF the
Mckinley duties on wool.
A resolution was passed for the investi-
CATION by tho commltto on naval affairs
OF the prices paid by the government for
ship armor.
Tho most important feature Of the ses-
sion perhaps was a resolution offered by
Mr. Sherman for the restoration Of the
gold reserve. which hereafter, It was pro-
vided, should be held sacred for the re-
demption OF the greenbacks and treasury
notes. tho former to be relssued only In
exchange for gold coin and bullion. Mr..
sherman will address the senate on hia
resolution on Friday. The following is
the text of Mr.. Sherman's resolution:
Resolved, That by injurious legisla-
tion by the Fifty-third congress the reve-
nues Of the government were reduced be-
low It's necessary expenditures, and tho
fund created by law for the redemption
Of United States notes has been invaded
to supply such deficiency OF reserve; that
such misapplication Of the resumption
fund Is of doubtful legality and greatly
injurious Go the public credit and should
be prevented by restoring said fund to tho
sum OF not less than 500, 600, 600 in gold
coin or bullion, TO be paid out only in tho
redemption of United States notes and
treasury notes, and such notes. when re-
deemed, to be reissued only in exchange
for gold coin or bullion
objects 20 Private Bond Sales.
Mr.. Elklns (Rop.) OF West Virginia
asked for the Immediate consideration Of
resolution declaring it TO be the sense Of
the senato that no bonds Of tho United
States should be sold at private sale or by
private contract, but should DO disposed
OF by advertisement TO the highest bidder.
Mr.. Hill Of New York objected, and the
resolution went over
Mr.. Nelson (Rep.) Of Minnesota made
his FIRST speech in the senate advocating
higher duties as a remedy for financial
troubles
He maintained that the outward flow
OF gold could not be stopped until the bal
ance Of trade was in our favor, and that
that result could not be obtained without
an adequate increase OF tariff rates. An
inoronso of tariff rates and adequate reve-
nues in the treasury would solve the prob
lem
He thought the banks should bear their
share OF the burden of maintaining our
vast papor currency on parity with gold
When he took his sent, Mr.. Elkins renewed
his request for tho immediate considera-
tion Of his resolution, but Mr. Hill again
objected
Among the bills and resolutions intro
duced in the senate were the following:
BY Mr. Pettigrew. "A bin directing tho
f.ans Of 20,
not relssue grecnbaclSs hereafter redeemed
by him, but TO issue silver certificates in
their place, the certificates to be redeemed
with silver dollars. To meet the demand
thus created the secretary is directed to
coin the silver now in the treasury, and II
the amount Is not sufficient for the pur-
pose he Is to purchase more silver bullion
from time to time
by Senator Lodge "A bill to promote
tho efficiency OF the militia. Tho bill pro.
vides for q reserve militia in addition TO
the regular organization in each state and
territory and directs that the militia or
ganization shall conform as nearly us pos
sablo to that of the army.
BY Mr.. Nest-A bill repeating that
part Of the Wilson tariff act which pro-
vdes for the rebate of the internal reve-
nuo taxson alcohol used IN tho arts or in
medical compounds.
BY Mr.. MoMillan-A bill requiring
that per cent OF the salary of all persons
employed in the classified railway mail
service be withheld to constitute relief
fund.
Short Session Of the House.
Tho last session OF the house for the
year 1895 was purely formal meeting,
lasting but a very fow minutes, and an
adjournment was taken until Friday ac-
cording TO the understanding The prayer
Of Chaplain Coudcn was most impressive.
He asked that party contentious might be
buried; that the nation might advance,
with the motto, "Ono flag, ono country,
one God foroverr' and concluded, "With
malice toward none, with charity for all,
let our nation stand an example TO all
the world, with Justice written on her
brow"
Among the bills introduced in tho house
were the following:
BY Mr. MoMllin Of Tennessee. To re.
peal the law allowing a rebate OF the tax
on alcohol Also to repeal the 10 per cent
tax on the circulation Of banks other than
national banks
by Mr. Cummings of New York Pro
viding that thero shall be in the army OF
tho United States ten regiments of artil-
lcry OF l2 batteries each, 10 regiments OF
cavalry OF 10 companies each, 30 regi-
ments of infantry of l2 companies each.
A plan for the establishment Of a bureau
60 be known as the commission OF foreign
commerce has been framed by Mr. Doolit-
tic Of Washington and is embraced in
bill introduced in the house. Tho objects
Of the commission contemplated are 10
be 20 acquire and dilfuse for the benefit of
manufacturing and commercial interests
information on all subjects relating to
foreign commerce. especially concerning
demand I'm foreign countries for products
that may be supplied by American labor.
A commissioner Of commerce, salaried at
So goo a year, would be the head of the
bureau, with the necessary assistants and
clerical force. The plan is largely the ro-
suit of Nir. Doolttle's observation ON an
extended trip through Japan, China and
other parts Of the east last summer. He
says the use Of tho bureau would be prin-
cipally TO cultivate commercial relations
between the United States and the other
American nations and the orient.