The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-06-04
COINAGE OF S[|GN|ORAGE.
Minority Bond Provision Incorpor-
ased in the War REVENGE Bifl-Al-
len Attacks the Monetary Conn

WASHINGTON. June s.-whiie the war
revenue measure was not IA ssed by the
senate today. TWO very important votes
we're taken. one On a proposition to ccin
the silver bullion III the treasury and 10 IS
sue silver certificates against the coin. and
TIE otaeF or the bond proposition present.
ed by the Republican minority OF the COM
Init1ee on finance.
IN leu Of the seigniorage amendment
offered BY the ma 5ority Of the finance
committee. Wolcott Of Colorado proposed
an amendment authorizing the secretary
OF the treasury In coin the silver bullion
IN the treasury and 10 issue silver certif-
Gates against Il. After some discussion
"A vote Was reached and the amendment
was agreed TO. - 20 s., several Repubic-
ans voting for X.
Aidrfch Of Rhode Island then pressed
the amendment OF the majority Of the
finance committee, providing for the Issue
Of one hundred millions Of certificates Of
indebtedness and three hundred millions Of
bonds, 10 be used exclusively for the pay
ment or he expenses OF the war. After
an extended debate the question was
brought 10 an issue. and by the decisive
vote of - to 81 the bond amendment was
incorporated in the bill as a substitute
for the amendment To issue legal tender
notes. The bond proposition received the
votes OF thrty-SeFen Republicans seven
Democrats and one Populist. The Dem
ocrats who voted for Ii were Caffery,
Faulkner. German. Gray. Lindsay. Mitch
ell and Murphy, and the Populist was
Kyle. No Republicans voted against the
issue Of bonds. the votes in opposition 10
bonds being cast ny twenty-one Demo rats.
five Populists ana five Silver Republicans.
Just before adjournment this evening a
sensational speech was made by Wocott
Of Colorado, in reply TO some suggestions
concerning the bimetallfc commission
made b. Allen OF Nebraska.
The senate concurred in the house
amendment to the bill removing all dis
ability imposed by the fourteenth amend
ment to the constitution.
Consideration OF the war revenue meas
ure was resumed at the conclusion Of the
morning business.
Jones Of Arkansas expressed the opinion
that all the revenue features OF the bill
ought TO be completed and passed upon
before the bond provision was passed upon.
because the amount of revenue raised
might have great weight In the determi-
nation Of some other pending amendments.
Hale Of Maine inquired whether Jones
thought the small amount comparatively
that wou.d be raised would be sufficient.
II have no doubt" he continued. that
il this war lasts year. IL will cost the
government between seven and eight hun
dred millions. Tnac Is my PREDICTION: ana
| put myself on record TO that effect"
Inmates made upon the expenses OF the
war. and he satisfied they would
reach certainly 500.00o, 600.
Teller Of Colorado reviewed the legisla-
ton during the past ten years. and said
Il was evident that this bill was not to be
a temporary measure IL was 10 all in
tents and purposes 10 be permanen. law.
at is the duty of the senate" he said.
ito take sufficient time for the considera-
ton of the pending bill ~ determine how
much money 1t will raise. l do not want
10 vote upon the bill until We know what
1t viii produce in revenue.
Aldrich said that careful estimates had
been made of the revenue producing quail
tiles OF the bill, and he was satisfied that
the amount would be between $i50 00000o
and $500 600 600 certainly not in excess OF
the latter sum.
Allison said tina. not including the last
1900 volunteers called for, the estimate
was that the war expenses fer the first
wear would be s37a ooo,oo. lie regarded an
addition OF S15 040 coo for the additional
volunteers as entirely reasonable.
morrill, OF Vermont the venerable chair
man of the finance committee. delivered
short speeca in opposition 10 the propo-
sitions that come 10 us from the Populist
side of the senate 10 issue greenbacks and
coin the seigniorage'
Wolcott OF Colorado proposed an amend
ment OF the finance committee upon the
coinage OF the seigniorage. II was IN the
nature OF a substitute. and after being
slightly amended direct vote upon II
vas reached Jones OF Arkansas gave no.
lice that he would move hereafter to sub
stitute the committee amendment for the
Wolcott amendment. Woicotts amend
ueut was agreed 10. As 10 81, as follows: