The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1900-03-01

Washington, Feb. Northumberland
ing the agreement made by the senate
to vote on the Hawaiian government
bill at today's session, the final vote
on the measure was postponed until 4
O'Clock tomorrow Practically no prog
ress was made on the blH today, al
though it was under consideration
nearly four hours.
Mr.. Aldrich. chairman of the finance
committee, at the opening of the SEES
sion made an explanation of the work
of the conferees on the, financial meas
ure, his statement resulting in an IN
expected and spirited debate.
One of the features of the session was
the speech of Mr.. McLaurin Is. c. on
the Philippine question. He is the first
| Democrat in the senate to declare hT =
self for expansion. He secuted what
he called the "bugbear of imperial
ism" with which some of his colleae CUES
were trying to brighten the people; de-
clared the question was not one OF
politics, and maintained the acquisi-
ton Of the Philippines would be of i'm
mense advantage TO this country, es-
pecially the south, by opening to the
United States the trade of the Orient
Changes in Financial Bill.
The first change in the financial bill
as explained by Mr.. Aldrich. was in
| the section defining the standard. 1t
was, he said, purely a verbal change
change in phraseology-and undoubt-
eddy strengthened this section.
The second change was a provision
making it the express duty of the Sec
rotary of the treasury TO maintain the
reserve fund in order that the parity
Of United States money should be pre-
/ served Mr. Aldrich thought the sen
ate bin did impose that, but the house
conferees insisted that the injunction
should be incorporated in the bill in
terms.
The next change provided that the
gold reserve might be held in gold coin
''Or bullion" the last two words being
added because the facilities for the
coinage of gold would not at present
admit of coming the gold il sufficient
quantity to maintain at all times the
reserve in gold coin.
The next change, Mr.. AldTfch ex-
planned. provided distinctly that the
| secretary of the treasury should moi
use the money raised by the sale of
bonds for the payment of the current
expenses OF the government so as to
destroy all possibility that the sO-called
endless chain might be established.
Provides For Silver Dollar.
A new section was inserted providing
| that nothing in the present act should
/ affect the legal tender quality of the
! silver dollar or any other money OF
/ the United States. 50 as to remove any
/ possible doubt as to the retention OF
/ the legal tender quality of silver.
/ The next amendment provided that
( two divisions should be established in
/ the treasury department one of issue
/ and the other of redemption. The next
/ amendment provided that so long as
J the aggregate amount OF United States
! notes and silver certificates in the gen
! eral fund of the treasury shall exceed
$50 O00 the secretary may sus-
pend the issue of certificates This
/ Mr.. Aldrich said, was simply another
/ way of protecting the reserve.
! The next amendment provided that
! the secretary of the treasury might is
! sue 10 per cent of the total volume of
/ silver certificates in notes of large de-
| nominations for convenience to banks
and those handling large sums OF
money. The next amendment provided
/ for the issue first Of silver certificates
/ Of small denominations, M Aldrich
( explaining that the provision in the
| senate substitute in the opinion of the
| secretary Of the treasury might cause
/ a contraction of the currency. The
next amendment provided for the coin
! age Of subsidiary silver to the amount
/ of S2O,Oo0,000, in addition to the SSOy-
| 100000 now in circulation.
Small National Banks.
| The next amendment provided that
| national banks with capital of So. 900
might be organized in towns of 5000 in
/ habitants, instead of 1000. An amend
ment was also made to permit banks to
! issue one-third of their circulation
| notes in denominations of s.. agreed to
| because banks in remote parts of the
country needed a good deal OF cur
rency in small bills in order to accom-
modate customers.
Mr.. Allen CNeb.) interrupted that
/ there was no such demand from his
! section Of the country. and the d nend-
/ ment was simply in line with ~ COM
mittee's policy to cater to the desires
| Of the banks
A lively political colloquy ensued be-
/ tween the two senator's, during which
Mr.. Aldrich said that as Mr.. Allen had
| just returned from a Populist confer
| ence. and a conference with his candi-
| date for the presidency. he was pre-
sunlably speaking with authority He
also intimated that Mr.. Bryan might
1 have changed his views on the money
/ question since the last report.
This aroused the Nebraska senator.
/ who denied that he had been. in con-
! ference with Mr.. Bryan. and said the
! sneers Of the senator (Aldrich) directed
at a man who was in every respect his
! equal. were unwarranted and unealled
! for.
Swept Out the Boodlers.
Mr.. Allen said he wanted TO enter
his protest against the assumption of
! Mr.. Aldrich that ne was a Democrat.
and he exp aimed wherein he differed
| from the Democratic policy. In re-
Spouse to a question from Mr.. Wolcott.
Mr.. Allen said:
Il do not want 10 handy words with
the senator for the benefit of the gal
| leries. There have been some bOodling
| Republicans in our party referring TO
| AIR. WOlcOtts reference TO the middle
| of-the-rOad POpuliStsl. but like St. Pat
rick did with the snakes. we swept
them at our recent conference into the
| ocean. Iaughter).
ReSuming his explanation OF the
changes in the financial bill. Mr.. AL
drich said the last amendment was a
slight change in the section relating 70
bimetalf5m. He thought il eminentIv
desirable to say to the nations of the
world that the United States was on
the gofd standard, and would remain
in that position until they were pre-
pared to enter into an agreement with
regard to the use Of silver.
At the conclusion Of Mr.. Aldrich's
statement, Mr.. McIsauren was recog-
nized to deliver an announced speech
y.