The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-01-01
IN STORMY Seas OF Finance
Senate Debate Yesterday Drifted
Into Coin Channels.
IS STARTED BY MR. MITCHELL
While Considering Additional Duty on
Raw Wool. the senator WandeTs to
Arguments lpon COin-Scnatcrs
Hill and COckrcll Join Debate.

Washington, Dec. 31.-AlthCugh the
financial question was not before the
senate today nor in consideration IN "a
speech in support of his resolution Tor
an additional duty ON raw wool. MT.
Mitchell Oregon. drifted inp the stormy
waters OF finance and argued that the
secretary of the treasury should nave
exercised discretion vested In him ana
redeemed greenbacks AMI treasury notes
either in gold or in silver coin as given
him.
When Mir. Hill New York, asserted
apropos of that argument, that ever
since 1879 il has teen the custom or
all the secretaries of the treasury to
redeem greenbacfs in gold. his state
ment was contraaicted by Mr. Cockrell,
Missouri. who stated that such redemp-
tion began i'm october. 1@l-never be-
fore, and added that Mr., Sherman mad
made an amrndment in the senate to
redeen. retire and cancel greenbacks
with silver dollars; and that Secretary
Carlisle had stated before the house
committee on appropriations in Janu-
ary 1895 that If in the beginning the
secre taiy of the treasury had exercised
his discretion of paying these notes
either in gold OF silver, at his conven-
fence. it would have gone we'll and have
shouted with great vigor that no secre-
tary of the treasury had ever until Oc-
tober, 1891. yielded the option to the
holders of United States notes to require
payment in gold. regardless OF conse-
uuences After speech by Mr.. Mitchell
the resolution as to additional rate or
duty on raw wool was referred to the
committee on finance.
Resolutions as to the maintenance OF
the reserve fund of $lOO0O0.CO0 in gold
coin or bullion, and prohibiting the is
sue of bonds by contract We're offered
first by Mr. Sherman and the second
by Mr.. Elkins. of West Virginia. The
senate then adjourned until next Fri
day, at 10.
Ellis Introduced.
Mr.. McMllin. of Tennessee, re-in-
troduced in the house today bill TO
repeal the state bank tax.
n Cummings, of New York, pro-
poses to increase the army so that here
after on peace footing ii shall con-
sist of ten regiments of artillery, ten
regiments of cavalry and thirty regi-
ments of infantry.
Mr.. Cameron. of Pennsylvania. intro
duccd in the senate today II bill to reg
ulate the course of study at the naval
academy. The bill was drawn by the
command of the academy and has the
approval of Secretary Herbert. 1t re-
iuces the course to four years by abol-
ishing the two years cruise: provides
separate courses of instructions for the
regular line and the engineer corps, and
fixes the age Of candidates at exami-
nation for admission at between 10 and
II years.
Venezuelan Commission.
No information whatever can be OBJ
tanned at the white house as to whether
the president has come to any decision
in regard to the members of he Venezu-
elan commission either as To number or
personnel. Both are left absolutely at
the discretion Of the president accord
ing to the resolution without even the
necessity of communication with the
senate on the matter.