The herald., 1898-06-04
WOLCOTT AMENDMENT
SECURES COINAGE OF SILVER
sEIGNIoRAoE
REPUBLICANS VOTE S0LIDLY
Seven Democrats and One Popu1ist
Prefer Bond Issue to Legal
Tender Notes
Associated Press Special Wire


WASHINGTON, June 3-While the war
revenue measure was not passed by the SEN
ate today. two very important votes were
taken, one on proposition to coin the sill
yer bullion in the treasury and to issue sill
yer certificates against the coin, and the
other on the bond proposition presented by
the Republican minority of the committee
on finance. In lieu of the seigniorage
amendment offered by the majority of the
finance committee. Mr.. Wolcott proposed an
amendment authorizing the secretary of
the treasury to coin the silver bullion in
the treasury and to issue silver certificates
against it. After some discussion vote
was reached. and the amendment was
agreed to-49 to 31-several Republicans
voting for it.
Aldrch, Republican, of Rhode Island,
then pressed the amendment of the minor
ity of the finance committee providing for
the issue of 500 600 900 certificates of indebt
edness and $500 100000 of bonds to be used
exclusively for the payment of the expenses
of the war. After an extended debate, the
question was brought to an issue. and by the
decisive vote of 45 to 81 the bond amend
ment was incorporated In the bill as SUBJ
stitute for the amendment tSissue legal
tender notes. The bond proposition re-
ceived the votes Of forty-seven Republi-
cans, seven Democrats and one Populist
The Democrats who voted for 1t were
Caffery, Faulkner, German, Gray, Lind
say Mitchell and Murphy, and the Populist
was Kyle.
No Republicans voted against the Issue
of bonds, the votes in opposition to bonds
being cast by twenty-one Democrats, five
Populists and five silver Republicans.
Business Begins
WASHINGTON, June 3.-A bill author
izing the Secretary of the Treasury to
keep certain life-saving stations on the
Atlantic and Gulf coasts open and manned
during June and July and appropriating
$4,000 for the necessary expense was
passed by the Senate at the opening of to-
days session.
The Senate concurred in the House
amendment to the bill removing all dis
abilities 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. In the course Of az brief
colloquy concerning the priority Of amend
ments yet to be considered, Jones Dem) of
Arkansas expressed the opinion that all the
revenue features of the bill ought to be
completed and passed before the bond pro-
vision was passed upon, because the
amount of revenue raised might have
great weight in the determination of some
other pending amendments. He was sat-
tsfed, he said, that the bond provision
would be incorporated in the BILL but held
that Senators ought to know what the bill
would raise approximately before being
called upon to vote upon the bond question.
Mr.. Hale (Rep.) of Maine inquired wheth-
Or Mr.. Jones thought the small amount
comparatively, which would be raised by
the pending revenue amendment would be
sufficient.
Estimates Of Expenses
II have no doubt" he continued, "that
If this war lasts a year 1t will cost the
government between s70O 100000 and $780,
100000. That is my prediction and put my
self on record to that effect"
Mr.. Jones said that so much money might
be spent but he did not think so. He was
satisfied at all events that an issue of bonds
was unnecessary.
II do not believe" said he, "that the war
will last a year or six months, or cny-
thing like that time; and the cost will GER
tainly be much less than stated by the SEN
ator (Mr Hale.) The Secretaries of War
and Navy each made an estimate of the
expenses for one year and their aggregate
estimates were only about half the estimate
of the Senator from Maine"
Mr.. Hale pointed out that no war was so
expensive as an expeditionary war He said
he had examined all the estimates made up-
on the expenses of the war and he was sat
isfed they would certainly reach $500 900, ,OD)
Mr.. Teller, Silver Republican. of Colorado,
reviewed the legislation during the past ten
years and said it was evident that this bill
was not to be temporary measure 1t was
to all intents and purposes TO be perma-
nent 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, proposed to have great navy, COM
mensurate with the dignity andi develop
ment of our country, and in addition all
cities along the Atlantic and Pacific ports
had a right to demand protection from
foreign invasion. The expenses of the gov
ernment were great now, but they were GER
tain to be- crater at the close Of the war.
at is the duty of the senate" he said.
"to take sufficient time for the consdera-
tion of the pending bill to determine how
much money it will raise. / do not want
to vote upon a 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 l."
Mr.. Aldrich said that careful estimates
had been made of the revenue producing
qualities of the bill and he was satisfied
that the amount would be between $780,
100000 and 5000 900, 900, certainly not in ex-
cess of the latter sum.
Allison said, without including the last
1900 of volunteers called for, the estimate
made was that the war expenses for the
flrst year would be at least $379, 900 900. He
regarded an addition of $750OO. 900 for the
additional volunteers as entirely reason
able.
Morrill,, Republican of Vermont, the ven
cradle chairman of the finance committee
delivered short speech in opposition t,
the propositions that come to US from tn
Populist side of the senate to issue green
backs and coin the seigniorage.
Wolcott Amends
Wolcott, Republican, of Colorado. pro
posed an amendment to the amendment o
the committee upon the coinage Of tn