The times. [volume] (Richmond, Va.) 1890-1903, 1896-01-01
QUESTION OF FINANCE.
BR. MTTCHELL, or OREGON, STTRS
JI' TIE NATTER IN TIE SENfTE.
Discussion of Mr.. Chandler's Resolution
Regarding Prices Paid for Armor
for Naval Vessels.

WASHINGTON, Dec. 3l.-Althoueh the
financial question was not directly be-
fore the Senate to-day for consideration,
all the points discussed had reference
to the burning subject.
ln a speech in support OF his Iesoll-
iion looking TO an additional rate of
duty on raw wool. Mr. Mitchell (Rep.,
Ore.) driftcd i~to the stormy waters of
finance, and argued that if the Secretary
Of the Treasury had exercised the dis
erection vested in him, and redeemed
greenbacks and Treasury notes either in
gold coin or in silver coin. as might
be most convenient. that would have put
a stop 10 the redemption OF such notes.
DIFFERENCE OF OPINION.
When Mr.. Hil asserted, apropos OF
that argument, that ever since 1873 il
had been the custom OF all the Secre-
taries Of the Treasury to redeem green
backs in gold, the statement was contra
dicted by Mr.. Cockrell, who stated that
such redemption began in October. 1s9l-
never beforehand added that Senator
sherman had offered an amendment i'm
the Senate 10 redeem. retire. and cancel
greenbacks with silver dollars, and that
Secretary Carlisle had stated before the
House Committee on Appropriations in
January, 1926. that If in the beginning
the Secretary Of the Treasury had oxer-
cised his discretion Of paying these notes
either in gold or silver, at his convent
ence, itw ould have operated well and
been OF great benefit.
Mr.. Cockrell repeated with great posi-
tiyeness, that no Secretary Of the Treas
ury had ever, until October. 1895. denied
the option of the holders Of the United
States notes 20 require payment in gold.
regardless Of consequences.
After speeches by Mr. Mitchell and
Mr., Nelson Rep.. Mimi. the resolu-
ton as TO additional rate Of duty on raw
wool, was referred TO the Committee on
Finance.
Mr. Perkins (yep.. CALI offered a reso-
luton with =. ~ string of "whereases."
( instructng the Finance COMMITTEES 10
report an amendment TO the House reve-
nue. bill, providing for an additional duty
on raw sugar. equal TO the proposed in
crease on other articles, and asked for
it's immediate consideration.
Mr.. Berry Dem. Ark objected. and
the resolution went over.
Mr.. Pettigrew (Rep., S. d. introduced
a BILL which was referred TO the Finance
Committee. 2, cancel redeemed United
States legal-tender notes.
Mr. Morrill,, chairman of the Finance
Committee. moved that when the Sen
ate adjourn to-day. it shall adjourn till
Friday. neSt. remarking that the
Finance Committee desired to meet on
Thursday to consider the House bond
bin and tariff bin.
The motion was agreed to.
ARMOR FOR NAVAL VESSELS.
The resolution heretofore offered by
Mr. Chandler Republican. OF New Hamp-
shire. as 10 prices paid for armor for YES
sells of the navy, whether they We're high
er than charged by the same contractor
TO foreign governments, and as TO gov
ernnent officers being interested ia pa
tents used in its manufacture, was taken
up: and Mr.. Chandler modified IL at the
suggestion of Mr. German. by emitting
the clause as TO lower prices charged TO
foreign governnfents-Mr. German OK
piaining that the facts were made known
at The last session and were-that Ii had
bsen deemed very desirable for United