The Portland daily press., 1900-03-14
Nine Democrats Voted With the
Republicans.
President Will Probably
Sign Today.
Debate on the Bill Continued
Through Day.

Washlnaton, March 10 The last leg
islative step In the enaetment Of the
financial bill was taken today By the
Houss Of Representative when the con-
ference report on the hill was adopted BY
a vote of 166 yeas, 100 nays, present and
not votiag, 10. The senate had already
adop ted the conference report. 50 IL re-
mains only for President Mckinley to
afiix his signature to the measure 20
make 1t law. Rspress ntativs Over
street, the author of the bill. viii take 1t
to ths White HOUSE. tomorrow and the sig
nature Is likely to be affixed soon there
after.
for securing the pen with which the Pres
ident win sign the hill
The debate on the report continued
Throughout the day, Mr.. Overstreet Of
Indiana opening, and MIR. Brosius Of
Pennsylysnis closing in support Of the
measure, while Mr.. Little Of Arkansas
closed In opposition with severe ar
rsignment Of the bill.
The vote Was on party lines. except
that nine Democrats joined with the Re
publicans In supporting the conference
report
At the opening Of the sesssien Of the
House today Mr.. Grew Of Pennsylvania,
In personal statement, denied that he
had ever said In q newspaper interview
that the Porto Rican bill was an tout
rage and robbery" Then under the order
previously made the House proceeded to
the consideration OF the conference report
upon the financial bill.
Mr. Overstreet Of Indiana who was in
charge of the report explained In detail
the notifications of the aouse and Sem
ate bills agreed upon by the oonferess.
Mr.. Ovsrstreet said that every principle
contained in the House bill had been
preserved In the conference report except
the provision relative to the taxation Of
national banks franchises. The establish
msnt of the gold standard into law was
still Its all important and essential feat
ure. This law would he said. become the
foundation Of the business prosperity Of
the country.
"Has the Secretary of the Treasury the
power to redeem silver dollar In gold
under the anna lgamated btllS" asked Mr..
ShAfroth.
SHE has nos," replied Mr.. Overstreet.
sand he did not have the power under
the original House bill"
"Undsr this bill will private obligations
be made payable In gold." inquired
Mr.. Snodgrass of Tennessee.
"Under section two of the original
Houss bili," replied Mr.. Overstreet,
'ipublio and private debts are made CON-
forrnable to the gold standard. That SEQ
ton IL omitted from the report hrst, be-
cause 1t lie question in law there would
be no retroactive because having fixed
the gold standard and recognized 1t by
converting all public obligations into
gold obligations there would be no nscgs-
sity to legislats concerning private obli-
cations and they will invariably reflect
the character Of the government obltga-
Itlons."
Mr.. Williams Of Illinois asked whether
1t would not be impossible In case an in
/
to escape paying the refunded thirty year
two per cent gold bonds In gold and such
being the case whether the bill could be
considered an encouragement to inteI
national bimetallism.
'iThe bonds could only be paid In
gold," responded Mr.. Overstreet.
"This bill holds out not the slishtest
hope of International bimetallism under
present conditions I say frankly that
solutely impossible ever to have interna
tional bimstallism at the ratio Of 10 to I. "
(Applause)
Mr.. NoReA of Arkansas foil owed Mr..
Overstreet with general argument In
deposition to the principles embodied in
the bill. Il was, he explained. . spesoh
prepared By him for delivery during the
consideration of the original ti1. He was
prevented from delivering It at that time.
owing to . severe Illness.
Mr.. Fitzgerald OF Massachusetts, spoke
of the frequency Of national bank fail
urss and oitsd those recently occurring In
Boston. He dwelt particularly On the
condition of affairs In the Globe National
hank and asked what protection one had
when the government bank inspector
pronounced the ms titutioR at the time
the irregularities were going on.
Mr.. Hill Of Connsetiout supported the
conference report In carefully prepared
speech setting forth the present financial
conditions and the relief to be expected
from tina bill.
Mr.. Maddox of Georgia. criticized the
bond features of the bill and the gradual
increase OF the interest bearing debt
Aessrs. NoonAn OF Illinois and Shat
forth of Colorado, also spoke against the