The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-06-04
FORTY-TWO MILLIONS
OF SILVER DOLLARS
Coined at the Rate of Four Millions
Per Month.
Providing For Three
Hundred Millions in Bonds
Adopted As a Substitute For the
Greenback Proposition-Wolcott
INDUCES In a TRADE of Abuse of
People Who Criticise the Inter
national Agreement Fizzle.

Washington, June 3-While the wal
revenue measure was not passed by the
senate today, two very important vote;
were taken, one on a proposition tC
| coin the silver bullion in the treasury
and to issue silver certificates against
| the coin, and the other on the bond
proposition, presented by the Republi.
can minority Of the committee or
finance.
In lieu of the seigniorage amendment
offered by the majority of the finance
committee, Mr.. Wolcott (Rep., Colo.)
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 a vote was
reached, and the amendment was
agreed to, 4S to 81, several Republicans
voting for it.
Mr.. Aldrich (Rep., r. u then pre-
sented the amendment OF the minority
of the finance committee, providing for
the issue of $780, 900 of certificates of
indebtedness 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 de-
cisive vote of 45 to 81, the bond amend
ment was incorporated in the bill, as a
substitute for the amendment to issue
legal. tender notes. The bond propoS-
ton received the votes of 81 Republi-
cans, seven Democrats and one Popu-
list. The Democrats who voted for it
We're Messrs. Caffpey, Faulkner, Cor
man, Gray, Lindsay, Mitchell and Muir
ply, and the Populist was Mr.. Kyle. No
Republicans voted against the issue of
bonds, the votes in opposition to bonds
being cast by q Democrats, five Popu-
lists and FIVE silver Republicans.
Just before adjournment this evening
q sensational speech was made by Mr..
Wolcott (Rep, Colo.), in reply to some
suggestions concerning the bimetallic
commission made by Mr.. Allen (Pop.,
Neb).
PROCEEDINGS OF THE SESSION.
Consideration of the war revenue
measure was resumed at the conclu-
sion OF the morning business.
In the course of brief colloquy con-
corning the priority of amendments yet
to be considered, Mr.. Jones Dem.,
Ark 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,
as the amount of revenue raised might
have great weight in the determination
of some other pending amendments. He
was satisfied, he said, that the bond
provision would be incorporated in the
BILL but held that senators ought to
know what the bill would raise, approx
imately, before they were called upon
to vote upon the bond question.
Mr.. Hale (Rep., Me.) inquired
whether Mr. Jones thought the small
amount comparatively that would be
raised would be sufficient. Il have no
doubt" he continued, that if this war
lasts year it will cost the govern
ment between 500, 100000 and $SG0, OOO.-
co., That is my prediction, and L put
myself 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.
I do not believe" said he, that the
war Will last one year. six months or
anything like that time. And the cost
will certainly be much less than stated
by the senator (Mr. Hale. The sec
retaries of war and the 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 esti-
mates made upon the expenses of the
war. and he was satisfied they would
reach certainly 500, 100000
TELLER ON EXPENSES.
Mr.. Taller (Sil. Rep, Colo) reviewed
the legislation during the past ten
years, and said it was evident that this
bill was not to be a temporary meas
IRE. Il was, to all intents and ,.:r-
poses, to be a permanent law. The ex-
penses of the war would be large, but
they would not end with the closing of
the war. 1t was proposed to have
great navy, commensurate with the
dignity and development of our coun-
try. and in addition all the cities along
tie Atlantic and Pacific coasts had
right to demand protection from for
eigr invasion.
The expenses of the government We're
great now, but they were certain to be
greater at the close of the war.
1T is the duty of the senate" he said,
ito take sufficient time for the consid-
Grafton Of the pending bill to determine
how much money it will raise. l do
not want to vote upon the bill until we
know what ii will produce in revenue.
The Cover nnent Will not be hamDered
in any way If this bill does not pass
for ten days, or until July l."
Mr.. Aldrich said that careful esti-
mates had been made IF the revenue
producing qualities of the bill, and he
was satisfied that the amount would
bs between sl50, 900, 900 and S200, 000, 900.
Certainly not in excess of the latter
sum.
Mr.. Allison said, without including
the last $4,000 of volunteers called for,
the estimate made was that the war
expenses for the first year would be at
least 1879, 600, 900 He regarded an ad-
M
volunteers as entirely reasonable
Mr.. Morrill, (Rep., Vt), the venerable
chairman of the finance committee, de-
livered a short speech in opposition to
the propositions that come to us from
the Populist side of the senate, to issue
greenbacks and coinage of the seignior-
age"
WOLCOTT'S AMENDMENT ADOPT
ED.
Mr.. Wolcott CRep., Colo.) proposed an
amendment TO the amendment of the
committee upon the coinage of the
1t was in the nature of a
and after being slightly
amended a direct vote upon it was
Mr.. Jones (Dem., Ark giving
notice that he would move hereafter
20 substitute the committee amendment
FOR the Wolcott amendment
Mr.. Wolcott's amendment was agreed
-o-4S to 81, as follows:
YEAS.
Allen. Mantle,
Bacon, Marta,
Bate, Mills. I
Berry. Mitchell,
Butler. Money.
Cannon 1Iorgan. =