The record-union., 1898-06-04

believe" said he. that the war will
last one year, six months, or anything
like that time, and the cost will cer-
tainly be much less than that stated
by the Senator (Hale). The Secretaries
Of War and Navy each made an esti-
mate of the expenses for one year, and
their aggregate estimates We're only
about half the estimate of the Senator
from Maine."
Hale pointed out that no war was so
expensive as an expeditionary war He
said he had examined all the estimates
made upon the expenses of the war,
and he was satisfied they would reach
certainly $7OO,OOO,OOO.
Teller (Sil. R.) Of Colorado reviewed
the legislation during the past ten
years, and said it was evident that this
bill was not temporary measure. 1t
was to all intents and purposes to be
made permanent law. The expenses
of the war would be large, but they
would not end with the close of the
war. The United States, he said, pro-
posed to have great army, commen-
surate with the dignity and develop
ment of our country, and in addition ali
the cities along the Atlantic and Pa
cific coasts had a right to demand pro-
lection from foreign invasion. The eX-
penses of the Government were great
now, but they were certain to be great
er at the close of the war.
1T is the duty of the Senate" he
said, ito take sufficient time for the
consideration of the pending bill, to
determine how much money it will
raise. I do not want to vote upon the
bill until we know what it will produce
in revenue. The Government will not
be hampered in any way if this bill
does not pass for ten days, or until
July 1st."
Aldrich said that careful estimates
had been made of the revenue-produc-
ing qualities of the bill, and he was
satisfied that the amount would be be-
tween $15O,OOO.OOO and 1000. 900
certainly not in excess Of the latter
sum. Allison said that without includ-
ing the last $4,000 of volunteers called
for, the estimate made was that the
war expenses for the first year would
be at least 1919 100000. He regarded
and additional $75,OOO,O0O for the ad-
ditional volunteers as entirely reason
able.
Morrill, R.) Of Vermont, the vener-
able Chairman of the Finance Commit
tee, delivered short speech in opposi-
ton to the propositions that come
to us from the Populist side Of the Sem
ate to issue greenbacks and coin the
Seigniorage."
Wolcott (R.) of Colorado proposed an
amendment to the amendment of the
the committee upon the coinage Of the
seigniorage. 1t was in the nature OF
a substitute, and after being slightly
amended direct vote upon it was
reached. Jones CD of Arkansas giving
notice that he would move hereafter to
substitute the committee amendment
for the Wolcott amendment.
WOlcott's amendment was agreed to
As to 31-as follows:
Yeas - Allen, Bacon, Bate, Berry.
Butler, Cannon, Carter Chandler,
Chiffon, Clark, Cockrell, Daniel, Faux
ner, Gray, Hansbrough, Harris, Heit-
field, Jones (Ark), Jones (Nev), Kyle.
Lindsay, McEnery, McLaurin. Mallory,
Mantle, Martin, Mills, Mitchell, Money,
Morgan, Pasco, Perkins, Pettigrew,
Pettus, Pritchard, Rawlins, Roach,
Shoup, Stewart, Teller, Thurston, Till
man, Turley, Turpie, Vest, Warren,
White, Wolcott-4S.
Nays-Aldrich, Allison, Baker, Bur-
rows, Caffery, Cullom, Davis, Deboe,
Fairbanks. Foraker, Frye, Gallinger.
Gear. German, Hale. Hanna, Hawley,
Hoar, Lodge, Mcbride, Mcmillan, Ma
son, Morrill,, Murphy, Nelson, Platt
(Conn), Platt On. Y). Proctor, Sewell,
Spooner, Wetmore-31.
The amendment as agreed to follows:
THAT the Secretary Of the Treasury
shall Immediately cause to be coined
as fast as possible into standard silver
dollars, to an amount Of not less than
81. 600, 600 per month, which shall be Of
like weight and fineness and of like le-
gal tender and quality as those pro-
vided for under existing law, all the
silver bullion now held in the treas
ury.
THAT the Secretary of the Treasury
is authorized and directed to issue, as
said silver is coined silver certificates
Of similar design and denominations,
and of the same quality, payable and
redeemable in like manner as those au-
thorized by law, to the amount Of the
gain or seigniorage derived from the
purchases of silver bullion by the treas
ury under the Act of July IA, 1890,
until the sum Of $42,OOO,OOO shall have
been issued. tt
THAT all said moneys so coined in
Guiding the amounts of the gains or
seigni6rage SO coined, shall be used
both for the redemption Of the treasury
notes heretofore issued under and by
virtue Of the Act Of July II, 1890, and
for the redemption Of the certificates
issued under this Act"
Aldrich moved to strike out the COM
mittee amendment providing for the
issue Of legal tender notes, and SUBJ
stitute the bond provision offered by
the Republican minority of the Finance
Committee. Upon this motion he de-
manded the yeas and nays.
Before vote was taken, however.
the subject was discussed by Stewart
Daniel and Mantle
Mantle expressed his general ap-
proval Of the substitutes for the bond
provision, but announced his apprehen-
sion that. the issue Of greenbacks
might prove a precedent that would
some time arise to plague the friends
of bimetallism.
Fairbanks R) Of Indiana supported
the provision for bonds and time certifi-
Gates, taking the position that future
years should pay part Of the expenses
of the war. He attacked the PROPOSE
tion to substitute greenbacks and to
coin the seigniorage as "a deliberate
attempt to initiate the currency and i'm
peril the present gold standard"
Money CD Of Mississippi and Bate
CD of Tennessee expressed the opinion
that the bond proposition might go over
until December. both expressing the
belief that the war would be short