The News-Herald. [volume] (Hillsboro, Highland Co., Ohio) 1886-1973, 1896-01-09
WASHINGTON LETTER.
tFrom Our Regular Correspondent
WASHINGTON, D. O., Jan. 8, '96

tcrom OuV he8ular OOffeepOn0ont.l
WASHINGTON, D. O., Jan. 8, '98
Senator Sherman never makes . |
speech unless he has something to say,
and whenever he does talk he is care
fully listened to, by those who disagree
with him as we'll as by those who agree
with him. His Offering Of the following
resolution was one of the greatest sur.
prises that the present session Of Con.
gress has produced: Resolved, That by
injudicious legislation by the Fifty.third
Congress the revenues Of the govern.
ment were reduced below its necessary
expenditure, and the fund created by
law for the redemption of the U. s.
notes has been invaded to supply such
deficiency of reserve, that such a NILS.
application Of the resumption fund is of
doubtful legality, and greatly injurious
to the public credit, and should be pre-.
vented by restoring said funi to the
sum of not less than 500, 100000 ngold
coin or bullion, to be paid out o.. in
redemption of U. s. notes and 1 eas.
ury notes, and such notes when ,e.
deemed, to be reissued only in exchange
for gold coin or bullion" To-day Sen.
ator Sherman made a 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 impossible to say at this
time whether either the Senate or the
House will adopt the resolution. The
prejudice against the retirement OF the
U. 8. notes (greenbacks) is widespread
in Congress, and for that reason it
would seem that such resolution could
not be adopted But while the adop.
ton of this resolution might result in
the temporary retirement OF some of the
greenbacks, it would only retire those
presented for redemption. In other
words, it would leave it for the specu.
lators in gold to decide whetherit would
pay them to get gold upon such terms,
and Senator Sherman believes the
knowlege that the greenbacks 80 pre-.
sented would be even temporarily
retired would deter the spectators from
presenting them. He also believes that
if any greenbacks were thus returned
that as soon as the revenues OF the gov.
ernment reached surplus stage they
would be exchanged for gold, as was
often done when the governments rev.
enues exceeded it's expenditures. Such
resolution is too important to be hast.
lily acted upon. It will go to the Sen.
ate Finance committee for careful con.
sideration.
. 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 Al
|, 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 committee, character
ICES the December Treasury statement
, as palpable fraud, and shows that {
true statement of the receipts and ex
/, penses TO the government for December
would show a deficit of more than So,
7 500, 900, instead of the half million sur
plus claimed by Secretary Carlisle'l
official report.
Senator Elkins has offered resolu
ton the adoption of which might blocl
, Mr.. Cleveland's new deal with tn,
bankers syndicate. 1t declares tht
> sense of the Senate to be that no U.
= bonds should be sold at private sale o.
> by private sale or by private contract
. but they should be advertised and sole
to the highest bidder.
! The Naval inspection board has made
it's report on the battleship Texas ant
3 as result the Texas will probably g
out of commission and be sent to th'
Norfolk Navy Yard to have her bottom
strengthened and other defects remed
led. The Texas is the result of a yer!
=. brilliant idea which got into the hea(
' of Hon. w. @. Whitney, when he wa
Mr.. Cleveland's Secretary of the Navy
He thought the English could desigl
better ships than the Americans, and h
paid out good American money to En-
glishmen for the plans of the Texas
although prominent naval officers didn'
hesitate to say that the plans we're bad
Long before the Texas was half done i
: was seen that the original plans woul'
have to be modified to a considerable
extent in order to prevent the launch
=" ing being sinking. Newspaper read
ers are familiar with the series OF mis-
: haps which the Texas has met durin
q the short time she has been in commits
4 sion. If Secretary Whitney has fol
!. lowed the Texas, as he doubtless has
. in the newspapers, not literally h
| probablv doesn't think "a hiQhlv q