Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1900-02-12
SEN. ELKINS TALKS
He Thinks Latitude Should Be AL
lowed In Interest Rate On Re-
funding Bonds.
Sen. WOLCOTT ALSO SPEAKS
BE Thinks the Leading Nations Will Yet
Adopt Bimetallism Prospect for Sec
retary Of Mines and Mining to
Be Provided,
THE SENATE.

Washington, February 12-It was
known that the opening dav of the last
week of the tn. ncii4f discussion vas to
be marked by the delivery of at least
three speeches, by Messrs. WoIcott of
Colorado, Butler of North Caroline and
Elkins of West Virginia, and in addi-
ton to a large attendance of senators,
the public galleries were Well filed
Mr.. Elkins commended the general
provisions Of the BILL but he criticised
the sixth section, which provides for
funding the public debt. He said RE
funding the public debt Is purely a
practical or administrative question. 1t
should have no place in our politics or
be connected in any wise with political
questions or measures. 1t should be
made the subject of a separate bill, to
be considered and passed when our
bonds mature and monetary conditions
may be entirely different"
The senator suggested that the gov
ernment might find it difficult at some
time in the future to keep the proposed
2 per cent bonds at par and asked If 1t
would not be better and in the public
interest to make the rate of interest
higher and offer no inducements to ma
tional banks. 1T seems" said Mr.. Ell
kins, "the safer course would be to al
low margin of discretion to the sec
retary Of the treasury in the matter Of
refunding the public debt when the
time comes; for instance, give him au-
thority to refund at a rate not exceed
ing, say, 3 per cent per annum. We can
not hope to do in the matter Of our
finances what all other nations, espe-
cially Great Britain, the richest nation
Of the world, has failed to do. She new
er reached a standard as low as 2 per
cent for her national borrowings"
The subcommittee Of the senate COM
mittee on judiciary. which has been
considering the nomination of Judge
Ewart to be United States district Judge
for North Carolina, made report to a
full committee, which postponed action
one week.
Mr.. Wolcott Of Colorado spoke on the
financial bill, strongly advocating a
proposed amendment declaring the Ma
ton favorable to international bimetal
lisrn. He expressed belief that we will
soon see the leading commercial nations
| unite in an earnest effort to establish
the bimetallic system.
THE HOUSE.
The appropriation committee of the
4, xllo,y xtII ft,a
legislative and judiciary appropriation
bill. The estimates submitted aggregat-
ed s25, ,019, 1853 The bill appropriates $23,-
S74,S71.
Thirty-f1ve private pension bills ia
vorably acted upon by the committee OF
the whole at Friday nights session
We're passed.
| A resolution to print $1,000 copies of
the report of the Philippine commission
was adopted.
The house then proceeded to the con-
sideration Of business relating to the
District of Columbia.
A new cabinet officer, to be known as
the secretary of mines and mining, Is
provided in bill favorably acted on to-
day by the house committee on mines
and mining. Another measure favorably
acted upon establishes mining expert
ment stations in each mining state.
Mr.. Payne of New York, chairman OF
the ways and means committee, called
up bill to permit transit through the
United States Of goods in bond without
the payment Of duties.
An amendment to the free zone pro-
vision was adopted, repeating a Joint
resolution of March /, 1895, to prohibit
! the entry OF goods into the free zone OF
Mexico The bill then passed.
The house adjourned.