The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-06-04
COINAGE Of SE|GN|ORAGE.
SENATE AGREES TO AMENDMENT
PROPOSED BY WoLCoTI
Minority Bond Provision Incorpor-
afed in the War Revenue BiII-AI-
len Attacks the Monetary Conn
mission and Is Sfernly Rebuked.

WASHINGTON. June s-whiIe the war
revenue measure was not passed by the
senate today. TWO very important votes
were taken. one on proposition 10 coin
the silver bullion in the treasury and 70 IS
sue silver certificates against the coin ard
me other on the bond proposition present.
Ell by the Republican minority OF the COM
Enittee on finance.
IN lieu Of the scigrtorage amendment
oHered ~ the majority OF the finance
committee. Wolcott of Colorado proposed
an amendment authorizing the secretary
cI me treasury 10 coin the silver bullion
n the treasury and 70 issue silver certIn-
Gates against II. After some discussion.
vote was reached and the amendment
was sgreed to, II 10 81, several Republic
ans voting for Ii.
Aldrich of Rhode Island then pressed
the amendment of the majority of the
finance committee providing for fba issua
OF one hundred millions Of certificates OF
Indebtedness and three hundred millions OF
bonds, 20 be used exclusively for the pay
ment OF The expenses OF the war After
an extended debate the question was
brought TO an issue. and by the decisive
vote OF - TO 81 the bond amendment was
Incorporated in the bill as a substitute
for the amendment 10 issue legal tender
notes The bond proposition received the
votes OF thirty-seven Republicans. seven
Democrats and one Populst. 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 by twenty-one Democrats
five Populists and five Silver Republicans.
Just before adjournment this evening a
sensational speech was made by Woicott
OF Colorado, In reply to some suggestions
concerning the timetable commission
made by 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 would be raised would be sufficient.
81 have 10 doubt he continued that
If this war lasts Il year. ii will cost the
government between seven and eight hur-
dred millions. Tnat is my prediction. and
I put myself on record TO that effect"
Hale said he had examined all the es-
Inmates made upon the expenses of the
war. and he was satisfied they would
reach certainly s1oo.o0000o.
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. II was 10 all in
tents and purposes TO be a permanent: law.
ct is the duty Of the senate,' he said
ito take sufficient time for the considera-
ton OF the pending bill 10 determine how
much money Il will raise. | do not want
TO 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 $50 900
and $500 Geo 600. certainly not in excess OF
the latter sum,
Allison said thai not including the last
5000 volunteers called for the estimate
was that the war expenses for the first
year would be 1919, 0eo0co. lie regarded an
addition of S.5,000 coo for the additional
volunteers as entirely reasonable.
Morrill, of Vermont. the venerable chair
man of the finance committee, delivered
short speech in opposition to ''the propo-
stions that come to us from the Populist
side Of the senate TO 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 q substitute, and after being
slightly amended, a direct vote upon 1t
was reached. Jones Of Arkansas gave no.
tee that he would move hereafter to sub
stitute the committee amendment for the
Wolc0tt amendment. Woc0tts amend
IN n fntInw2-