The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1896-01-02
BOND BILL PASSED HOUSE.
THE ALLEGED TREASURY RE.
LIEF MEASURE PASSED BY
A VOTE OF 10 TO 1876.
Al REPUBLICANS Voted AGAINST II
All the Democrats ard Populists Voted
Against 1t, Save Mr.. Hutchinson of
Texas-The List of Senate Com
mttees Announced.

Washington, Dec. 2S.-The house toda
passed the bond bill by a vote of 10 t
1856 and thus having discharged the tas
fo- which it has been sitting during tn
holiday recess, executed an agreement b.
which the house will adjourn next weel
until time next year, giving the mem
bers an opportunity of spending New
Years at their respective homes.
The margin of "a by which the frs
section of the bill. against which the Re
publican opponents of the measure masset
their opposition, was passed, showed thai
the seconds of the measure had mar
( shalled every available vote in its favor.
Forty-seven Republicans refused to act
with the majority of their party. The
Populists and Democrats, with the ex.
ception of Hutchinson of Texas, who voted
for the bill, presented an unbroken front
! against the bill. The bill amends the
resumption act 80 as to permit the issue
of per cent coin bonds, redeemable after
five years at the pleasure of the govern
ment and payable in Is years, with the
proviso that nothing in the bill shall be
construed to repeal the act of 1879 for
the reissue of the greenbacks, and that
the bonds shall first be offered for sale
by subscription at the subtreasuries and
repositories of the United States.
The second section Of the bill provides
for the reissue of 3-year per cent certifi-
Gates of denominations of $50 and multi
pies thereof, amounting to not exceeding
SoO,OOO,OOO, to meet temporary deficien-
cies.
Washington, Dec. 2S.-When the house
convened today but three hours remained
for debate on the bond bill. The vote,
by the terms of the rule under which the
house was operating, was to be taken at
O'clock
Mr.. Brosius Dem) of Pennsylvania
opened the debate in favor of the bill
This was the only country on the globe,
he said where gold redemption had
neither qualification nor limitation, and
where the treasury was without the
power to resist the incursions of foreign
gold grabbers. The revenue deficit was
the chief sinner in the comedy of
errors, which had produced the present
trouble. 1t was not suitable to the dig
nifty of the government to employ the
sleuth hounds of foreign syndicates to
hunt down gold. The people of this
country should have the first opportunity
to help the treasury out of the trough
of the financial sea. He declared that
there was no politics in the bills.
Mr.. Parker Rep.) of New Jersey fav-
ored the bill as Il good-by measure.
Mr.. McLaurin Dem.) of South Caro-
lima opposed it because it would increase
the burden of q people already tax ridden
and would tend to legalize series of
usurpation of power by the secretary of
the treasury. If the secretary would use
his discretion and redeem notes in sill
yer, the gold raids would cease and new
hope would be infused into the Demo-
cratic party, now crushed by the tinan-
cial policy of the administration.
Mr.. Cannon CRep) of Illinois, in sup
port of the measure, declared that it was
II bill to maintain specie payments. which
had been resumed under the wise direc-
ton of the Republican party in 1879.
For Is years following the resumption
of specie payments the revenue had al
ways exceeded the expenditures. Twelve
hundred millions of the interest-paying
debt had been discharged. Since Mr..
Cleveland's election in 1892, deficiency,
idleness and panic had followed. In
stead of paying S10O,000,O00 year on
the public debt the Democrats had bor-
rowed $162 100000. They could learn
and criticise, but they could not build up
the reserve. Repubican applause.)
1--WE will not abridge the power of the
secretary of the treasury he concluded.
I'VE will give him more power. He can
not have too much power if it is wisely
used. You, on the other side. will vote
against this bill because you want to i'm
pair the credit of the country and force
us to n silver basis. We, in our judg-
ment and patriotism, stand ready to pass
this bill. If it is rejected by the senate
or the president we shall at least cast
our mite towards the protection of the
public credit and have given Il prophecy
of what we shall do when we come into
full power in 1897" Republican APP
plauSe)
Mr.. Bartlett Dem) of New York an
nounced his opinion that the passage of
the bill, instead of strengthening the
credit of the government, would lead to
| further panic. and avowed that he was
for the maintenance of the gold standard
until the purchasers of the world come
into our market for it. The president
knew, and everybody knew, that gold
bonds would not be authorized by con-
gress and because congress would not
give him authority, he and his secretary
have already opened negotiations with
the same old malodorous syndicate for
another issue of per cent bonds. The
people were to be given no opportunity
to subscribe. He read several letters
from constituents, offering to subscribe
for gold bonds.
Mr.. Bailey Oem.) of Texas, in out
lining the attitude of the Southern DEM
ocrats. said that they had desired to offer
rs substitute for the bill measure that
would, in his opinion, render the further
sale of bonds unnecessary. The treas
ury should coin the silver seignorage.
That would furnish the treasury S53,-
100000 of additional assets. He argued
safely be coined without disturbing the
parity between silver and gold. The ad-
vocates of the gold standard would ulti-
mately force the retirement of paper un.
less its redemption in silver coin couli
be brought about. Under the preseu
policy the danger always exists that tht
financial institutions might combine t.
coerce the treasury. Successive gold
Withdrawals and bond issues might be
forced until the public debt was increased
infinitely.
Mr. Marsh Rep.) nf Illinois arose to
give his reason for refusing his support
to the bill, but before he could finish his
preliminary remarks the gavel of the
speaker fell and the house remained un-
enlightened.
Mr., Burton lRcp) of Missouri and
Mr.. Connolly (RcpO of Illinois, who had
been counted on as opposing the bill. gave
th,,, N.t 20 "a -, toe Thn