The News-Herald. [volume] (Hillsboro, Highland Co., Ohio) 1886-1973, 1896-01-02
BOND BILL PASSES.
The E First Section Authorizes the Sale
Of Three Per Cent. Coin Bonds.
The Vote Was Yeas, see, Nays, 138-Ths
Second Section Was Then Agreed TO
without Division and the Bond Bin
Was Declared to He Passed.

second section was Thon agreed 20
without Division and the Bond Bin
Was Declared to he Passed.
WARRINGTON, Dec. 3O.-After the
reading of the journal Saturday the
discussion Of the bond bill was re-
sumed in the house, the discussion to
close at o'clock. The first speaker
was Mr.. Brosius (rep., Pa The gold
reserve, he said, must be maintained,
and the revenues to meet the ex-
penses of the government must be
procured. These propositions, he
said, were fundamental and indisput-
able. The deficiency Of revenues in
the opinion Of republicans was the
chief sinner in the comedy of errors
that had brought the nation to the
condition which confronted it. When
the deficiency ceased the treasury
would no longer suffer.
Mr.. Brosius said that the present
was the third notable revenue def
ciency which had occurred in time of
peace. They had all been caused by
the same thing, going too far in the
matter of taking off customs duties
In his opinion it was not proper that
the treasury should be farmed out to a
foreign country. There should be no
politics in dealing with the situation;
patriotism and duty were the two
words which alone could fitly describe
the inspiration of the hour.
Similar support to the bill was given
by Mr.. Stewart rep, n J.)
Mr.. McLaurin (dem., s. C.) said he
should oppose the bill because it would
not only increase the burdens of the
treasury, but legalize series of i'm
proper and unfounded assumptions
by the secretary of the treasury,
and for the further reason that
he believed rather in restricting than
extending the discretionary forms of
the treasury department All suffi-
cient relief could be afforded, he said,
if the secretary would obey the law
and establish an American system of
finance, treating all the obligations of
the government alike and in accord
ance with their plain terms.
Mr.. Cannon rep, Ill., said that the
resumption act of 1875 was a republic
an measure, passed in time of peace,
authorizing the issue of bonds. Under
that law Secretary Sherman sold $685.
OOO, 900 of bonds and secured the gold
with which to resume specie payments
in 1870. From that time until 1893,
when Mr.. Cleveland came in the Sec
ond time, there was no necessity for
our issue of bonds. There was never
an hour in that period when the rev.
enues were not sufficient to meet the
expenditures.
Mr.. Bartlett (dem. N. W opposed
the bill, he said, because, in his opin-
ion it would tend to spread still fur.
ther distrust instead of confidence In
the fiscal system of the country.
II have listened to this debate" said
Mr.. Tawney rep, Minn.) beginning
his remarks in support Of the bill,
with some interest and astonishment.
Before proceeding to discuss the propo'
sition of the bill, desire to state few
facts which preceded the presentation
of this bill to the house by the
committee on ways and means" Mr..
Tawney read from the presidents mes
sage requesting congress to do some
thing to sustain the credit of the gov.
ernment. 1t was then we'll understood
by all, including the president, that a
| gold bond bill could not by any
possibility be passed through this
house or through the other branch OF
congress. And yet it appeared that the
administration was of the opinion that
| bill to sell gold bonds is the only
possible form of relief. why? why?'
asked Mr.. Tawney. because they
have already arranged to sell another
| of IF dc
to syndicate who want that form Of
obligations"
Mr.. Bailey (dem., Tex.) declared tina,
the coinage of the bullion in the treas
ury was the wisest and best solution
| of the situation. Closing the debate
in opposition to the bill Mr.. CrisI
| (dem., Ga.) said the repu ublicans could
not urge the passage of this
purely political proposition and at the
same time claim that it was a response
to the request of the president, which
was that the administration be author.
ICED to sell gold bonds Either they
were in favor of it or they were not
and they ought to deal fairly and
frankly with the president and the
people.
At o'clock the debate ended anG
Mr.. Johnson rep, CALI demanded 6
division of the bill, and the vote was
taken by yeas and nays upon the pas
sage of the first section, authorizing
the sale of per cent coin bonds.
The vote on the passage of the first
section of the bill authorizing the issue
of bonds was yeas 16s, nays 1856
The second section was agreed t.
without division and the bill declared
to be passed.
Forty-seven republicans, seven o
them from Ohio, voted against th'
bill Only one democrat voted for thu
measure.
Warren's sympathy.