The times. [volume] (Richmond, Va.) 1890-1903, 1900-01-05
Z =
FINANCIAL Bill
in THE SENATE.
Senator AIdrich Opened the Discuss
ion on Yesterday
HOUSE SESSION VERY BRIEF. J,
sulzcr Resolution Callingon Secretary
HOUSE SESSION VERY BRIEF.

Gage for Infornatiou Concern
ing Deposit OF GOVERNMENT
Funds Was Adopted.
WASHINGTON. Jan. tin accordance
with the notice previously given by him
Senator Aldrich to-day opened the dis
cussion OF the financial bill in the SEN
ate in speech in explanation OF the
Senate substitute for the House bill. The
speech was carefully prepared and was
read from manuscript. 1t was delivered
in clear and distinct language, but with
out any effort at oratory.
Senators present gave him careful at
tention but no one interrupted MN VIII
questions or otherwise during the de-
livery, nor did any one manifest dis
nositlon to reply after he had concluded
Mr. Heveridge, of Indiana, presen ed
the following resolution:
THAT the Philippine islands are terri
tory belonging to the United States, that
it IS the intention of the United States 10
retain them as such and establish and
n1ainain such governmental control
throughout the archipelago as the stu
alton may demand.
MI. I3everidge asked that the resolu-
ton lie upon the table until next Tues
day. when he will speak upon it.
A message from the President was
read. transmitting the testimony taken
by the Commission appointed to invesu-
gate the conduct of the war, by the Wax
Department..
PETTIGREW. RESOLUTION.
A resolution was presented by Mr.. Pet
tigrew calling upon the Secretary of the
Navy for the report of Admiral Dewey.
os in, J.Tfir .,
said he could take Manila at any time.
He asked Immediate consideration. but
Mr.. ,Spooner objected and the resolution
went over.
Mr.. Aliens resolution calling for cor
respondence between the Treasury De-
partment and the National City Rank
and the Hanover National Bank OF New
York. was agreed to with notifications.
The consideration of Mr.. Pettigrew's
resolution concerning the advance re-
ported to have been made by Aguinado
through General Torres to General Otis
after the beginning Of hostiiities in the
Philippines. was postponed until Mon
day.
FINANCIAL BILL.
The Senate at / 30 P. NJ. took up the
financial bill. and Mr.. -Aldrich addressed
the Senate. He said:
The general purpose OF the bill IS to
declare anew that gold IS the monetary
fish confidence in the intention and abil-
ity of our government to give the great
est possible measure Of stability in value
to its currency, and to provide the means
for securing for it at all times an equa!
purchasing power with gold: to Tighten
in every possible way the burdens I'M
posed upon the tax payer by existing
public obligations and 10 strengthen the
public credit.
NO departure is intended by this bill
from the public policy which was adopted
years ago and has been consistently adj
hsred 10 through successive admin!stra-
tons.
The bill now before the Senate contains
no disavowal OF the position heretofore
taken upon the question of international
bi-metalism and places obstacles III
the way of its accomplishment in the
future. If 1t is possible to secure peEnlii-
renee of relative value To gold and silver
coins with the free coinage OF oo'h
rnatals at a fixed ratio, this permanence
can only be secured by concurrent action
OF all the leading commercial nations
Senator Aldrich accused the Democratic
party of advocating d policy that would
lead to silver recommendation, and declar-
ed Il was not 4 bi-metallic party at al.
1.-The committee do not suggest any
changes in the status Of the silver dollar
or the silver certificate. We do not pro-
prose to take away from silver any or the
monetary privileges or prerogatives which
it now enjoys. In fact, we believe that
the legislation suggested will greatly
strengthen its position in our monetary
system
The Senator defended the refundins pro-
visions of the bill as precautionary
measure in view of the possible future
increase of the public debt.
At the close OF the speech the Senate
adj n
at $50 O'Clock until next Monday.
In the House.
WASHINGTON, Jan. 1.-The House
session was very brief again to-day. the
only incident being the adoption OF the
Sulzer resolution introduced yesterday.
calling upon Secretary Gage for all IN
formation regarding TIE deposit OF GOV
eminent funds in certain New orh
national banks. The resolution as adopt-
ed was made more general i'll It's scope
and an amendment was added to cover
information respecting the transactions
relating to the sale OF the New 1orh
custom house site
Secretary Cages friends had been in
formed that he courted the fullest lh'es-
tigation and was prepared to submit All
the facts to Congress.
Accordingly, there was no frlction over
the passage of the resolution, which was
unanimously adopted.
Mr.. Payne. chairman of tl,e<Committee
on Ways and Means, presented the Sulzer
resolution. as modified by the committee
for immediate consideration. The resolu-
ton, as modified, is as follows:
Resolved. that the Secretary OF the
Treasury be, and ne Is hereby. requested
to furnish the House Of Representatives
the following information:
"First-Cop.es of all letters. agreements,
papers or documents between the Treas
ury Department of the United States, or
any person connected herewith and the
National City Bank. and the Hanover
National Bank of the City OF New York,
or any person acting for them
or either Of them, since the
fourth day of March, 1897. relating to the
depositing of public funds, bonds. or rev.
enues in said bank or banks, or any other
relations or business transactions now eX-.
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