The daily morning journal and courier., 1896-01-08
NEW POPULAR LOAN BILL
IT HAs INTRODUCED IN THE sEN-
 ATE BY RR. CHANDLER.


 ists Would Not Take American Bonds until tho Venezuelan Question Was Set tied--other Speeches Made.
 Washington, Jan. 7.-There was fair attendance of senators when the oody met at noon to-day and the galleries were well filled. My. Lindsay, dem,, Of Kentucky, appeared and took the oath CT office for his new term.
 In presenting the petition from the common council of Worcester, Mass, in favor of the Armenians, MT, Hoar, rep, of Massachusetts, inquired whether the committee on foreign relations had talk en any action on the numerous petitions referred to it of the same character. He was informed by MT. Sherman, rep, of Ohio, its chairman, that the commit tee on foreign relations was animated by a most earnest desire to relieve the Arnenians if possible; but had not yet taken the subject nto consideration. Thz committees has only recently been appointed and the matter had not yet been reached.
 Mir Jones, dem, Of Arkansas, report ed from the committee on finance the house bond bill with a substitute, and gave notice that tomorrow immediate Iy after the morning business he would ask the senate to take it up for con sideration. He hoped that it would be disposed of at the earliest possible day
 MT. Morrill, rep, of Vermont, chair man of the committee on finance, stated that the substitute was approved by maiority of the committee, but not by the republican members of it.
 Yhe bill was read in full and was placed on the calendar.
 A joint resolution concerning the com pletion of the public building at Man kato Minn., was reported and passed,
 At the request of MT. Elkins, rep, of West Virginia, his resolution acquiring United States bonds to be issued after public advertisement was referred to the finance committed
 Mr Chandler, rep, Of New Hamp- shire, introduced a. popular loan bill and proceeded to explain it. He refer red to paragraph in dispatch from Mir Rothschild stating that until the boundary question was settled the Eu- 1cpean public or capitalists would not take American bonds for investment.
 What, he asked. did MT. Rothschild mean by that? He meant that America should agree to Lord Salisbury's prop osition and allow Great Britain to take, substantially all of Venezuela that she needed and refer to arbitration the question whether she should have the rest CT nos Uaughter.) In that view of the situation it seemed to him that it was time for the American people and the American government to see whether they could not raise, among Themselves, the money necessary to car- " on the government. He was satis- fled that that could be easily accom- plished by suitable appeal to the peo- ple of the United States. He feared that the s1o0, ,00o, 900 bond call would not result well The people were called upon to bid and to fix the price them selves. They did not want popular loan like that They wanted something immediate in its operation They want ed something which would allow, not rich people, but poor people, to come to the front and pour their gifts into the treasury for the national needs, for the public welfare.
 He read the first paragraph of his bill. which provides for postal savings notes, to bear interest for five years, and to be repaid in the sort of money deposited, whether gold, silver or paper He said that he did not regard the recent treasury notice as announcing a popular loah in satisfactory form He was grateful to the secretary for needing the voice of the people as offered in the senate, the other day of the senator from Nebraska, MT. Allen, and other tribunes of the people Qaugh- ter) but he did not regard it as Q. wise method of testing the willingness of the people to supply money to the government. He regarded his own bill ,ss the wisest and simplest method, and as complete and perfect panacea. for the existing trouble Qaughter.) It would make the government independ- ent of foreign countries, of the Roth schilds and enable the people to get interest on their small savings.
 He elaborated the provisions of the bill and had it referred to the post office committee, but gave notice that s,e would offer it as an amendment to the bill reported from the finance com fnittee
 Mr. Lodge, referring to Mr. Chand- Ter. statement as to the Rothschilds disnatch, read statute making 1t il- legal for citizens of the United States to correspond with foreign governments or officials in regard to public meas ures in the United States, and he asked NIT. Chandler whether he did not think that the telegrams from the New York World were not an illegal interference and an attempt to throw doubt on the credit Of the government
 MT Lodge added, that to bring the opinion of lot of foreign bankers to try and discredit government bonds before they were issued would make the government more than ever de pendent upon a syndicate of bankers,
 Mr. Chandler agreed with NIT. Lodge ill these views. The law certainly ap- piled to the Pulitzer telegram to the Prince Of Wales, the heir apparent to the British throne, on a public ques- tion which made the relations between tne two countries acute. And he de- clared that if the president and the attorney general did their duty NIT. Pulitzer, if he ever set foot on Ameri- can soil fas he occa asioually Ciid) would