The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-03-14
CURRENCY BILL ALMOST LAW.
PASSED BY HOUSE AND NEEDS ONLY
PRESIDENTS NAME.

by MIR. Overstreet, Its Author.
Speeches Made in the House for
and Against the Measure-LewiS
and Maddox of Georgia Spoke in
OppOsition-No Eject on Private
obligations.
Washington, March 13-The last legis-
lative step in the enactment of the flnan
cial bill was taken by the House of Rep
resentatives to-day when the conference
report on the bill was adopted by vote
of yeas, 1e6 nays, 100; present and not
voting 10.
The Senate had already adopted the
conference report so it remains only for
President Mckinley to afiix his signature
to the measure to make 1t law.
Representative Overstreet, the author
of the bill. will take it to the White
House tomorrow and the signature is
likely to be affixed soon thereafter AL
ready arrangements have been made for
securing the pen with which the President
will sign the bill.
The debate on the report continued
throughout the day. Mr.. Overstreet of In
diana, opening, and Mr.. Brosius Of Penn
sylvania closing in support of the meas.
ure, while MIR, Little of Arkansas closed
in opposition with a severe arraignment
of the bill
The vote was on party lines except that
nine Democrats Joined with the Republi-
cans in supporting the conference report.
Mr.. Overstreet of Indiana, who was in
charge of the report explained In detail
the notifications agreed upon. Mr.. Over
street said that every principle contained
in the House bill had been preserved in the
conference report except the provisions rel
ative to the taxation of national bank
franchises The establishment of the gold
standard into law was still its all import
ant and essential feature.
As to Private Obligations.
Under this bill will private obligations
be made payable in gold?' inquired Mr..
Snodgrass of Tennessee.
NO" replied Mr.. Overstreet, because
il is a question in law whether 1t would
not be retroactive, and secondly, because
having fixed the gold standard and recoS-
nized IT by converting all pub
lie obligations into gold obga-
tons, there will be no necessity to legis-
late concerning private obligations as they
will invariably reflect the character of
government obligations"
Responding to an inquiry, Mr.. Overstreet
said This bill holds out not the slightest
hope for International bimetallism under
present conditions. l say frankly that
this bill will make 1t practically and abso-
lutely impossible ever to have interna-
tional bimetallism at the ratio of l6 TO l."
(Applause)
Mr. Lewis of Georgia also spoke against
the conference report particularly against
the imposition of the gold standard, the
arbitrary authority given the Secretary of
the Treasury TO sell bonds and maintain
the gold standard and the funding of the
national debt.
Mr. Hill OF Connecticut urged the report
would bring great relief to the country,
Mr.. Maddox of Georgia criticised the
bond features of the bill and the gradual
increase of the Understanding debt
Messrs Noonan of Illinois, McRae of
Arkansas and Shafroth of Colorado also
spoke against the bill
Closing speech Against II.
Mr. Little of Arkansas in closing for
the opposition severely arraighed "the in
faInies of this bill' and the stealth, de-
ceit, fraud and corruption by which this
conspiracy has forced it's Shiny course
along the pathway of legislation, until
now we are to witness in the light of day,
it's triumph over a free people"
He declared it would mark the blackest
page in our legislative history. He closed
d5 iOliOWS.
"The forces of patriotism and integrity
have selected their leader in advance OF
the convention, which will be ratified on
July 4, and with that leader-the incor-
ruptible, invincible and fearless tribune
of the people, w. j. Bryan, they will drive
you and the cohorts of corruption from
place and power forever" Democratic
applause)
Mr. Brosius OF Pennsylvania, chairman
of the Committee on Banking and Cur
rency and one of the conferees on the
financial bill, closed for the advocates Of
the measure. He said 1t was long step
toward the splendid pre-eminence we are
achieving as a world power
The vote was at 4:30 O'Clock taken and
the conference report was agreed to, yeas
1866, nays 100, present and not voting TO-
Nine Democrats voted with the Republ-
cans to agree to the report, viz, Clayton,
briggs Fitzgerald. Levy, Scudder all of
New York; Denny of Maryland, McAleer
of Pennsylvania, Thayer of Massachu-
setts and Underhll of New York
In other respects the vote was on party
| lines.
At $40 O'Clock the House adjourned.