Greenbrier independent. [volume] (Lewisburg, Va. [W. Va.]) 1859-1980, 1896-01-02
Asked for Bread but Got a stone.

otallnS the cOnultlOn OF the gold re-
serve and asking of that body a
prompt measure for its protection.
Seeing that the responsibility of pro-
tecting the reserve was thus placed
upon them, the Republican majority
in the House, in great haste, went to
work TO devise a measure which, in
their view at least, would accomplish
the end in view. Insisting that more
revenue was the key to the situation,
though both the President and his
Secretary of the Treasury had de-
Glazed to the contrary, they formu-
lated IA tariff measure intended to
raise about 10000, 900 of revenue,
and, under the crack of the party
whip, forced it by a party vote
through the House after three
hours debate, and under rule which
allowed no amendment to be even
offered by friend or foe, without Civ
ing the opposition so much as an OBJ
portunity to file minority report,
and in face of the distinct declara-
ton of the Secretary of the Treasury
that the revenues of the government
were amply sufficient so meet all its
ordinary expenditures.
In forcing this measure through
the House, with such unusual and
extraordinary expedition, the Re-
publican majority insisted, as we
said, that revenue for current ex-
penses is what the government needs,
denied that their bill was in any
sense general tariff measure or that
it represented Republican ideas on
that subject, declared that it was in
tended only as temporary revenue
measure to meet pressing EFFICIENCY
and advocated its passage on the high
ground Of patriotic duty in the hour
of peril.
The Democrats, on the other hand,
under the leadership of Crisp, Nc
Millin, Turner and others, insisted
that the bill, in order to be respon-
sive to the Presidents request, should
be in line with his recommendation {;
that Secretary Carlisle had reported
cash balance i'm the Treasury. on
December l, 1895, of $1,000 900,
being S9S, 100000 in excess of the
gold reserve and $1,000, 900 in ex-
cess or any sum necessary to build
up the gold reserve, and that there
was, therefore, as the Secretary had
declared, ono reason to doubt the
ability of the government to dis
charge all its current obligations dur
ing the present fiscal year, and leave
a large cash balance at its close, with
out imposing additional taxation in
any form on the people," They de.
clared that there was in the treasury
to-day, over and above the gold re-
serve, more free money-three times
as much as any deficiency that might
occur during the fiscal year. 1t was
not question of borrowing money
to meet expenses. The money was
already borrowed and was in the
treasury, and the question was
whether it should be used now, or
whether the House should rush, post.
haste, to impose additional burdens
on the people in order to pile I'D
money in the Treasury. The Presi-
dent, they said, had asked for meas
ure to replenish the gold reserve and
to prevent is continual depletion
The Republicans had responded, as a
part of their scheme, with an I'M
asked-for and unnecessary tariff bill
putting a tax on wool and lumber,
now on the free list, and making n
horizontal increase OF 10 per cent. of
existing duties on all the schedules
but two. The President had asked
for bread but the House had given
him stone.
In further response to the Presi-
dents demand and to complete the
scheme Of relief proposed by Mr..
Reed and his followers, the majority
introduced and passed, after a few
hours debate, bond bill authoriZ.
ing the Secretary of the Treasury to
sell coin bonds bearing interest at 3
per cent. and redeemable after Is
years. The Secretary is to use the
proceeds of these bonds i'm redeem.
ing U. S. legal tender or greenback
notes, but nothing in the bill shall
be construed as repeating or modify.
ing the law Of May /, 1873, forbid
ding the further retirement Of these
U. 5. legal tender notes. All the
Democrats, POpulists and many of
the Republicans voted against this
section of the bill, being opposed to
the bond policy. 1t passed the
House, however, after much hard
work on the part of the leaders, by a
vote Of 40 to 1856. The other pro-
vision Of the bill providing for short
time certificates of Indebtedness TO
meet temporary deficits in the reye-
nues passed by general consent and
without opposition.
The two bills thus passed by the
House are now i'm the Senate. What
that body will do with them remains
g.