The times. [volume] (Washington [D.C.]) 1897-1901, 1900-03-01

The conference report on the financial
bill was called up IN the senate yes erday
by Mi Adrich Who explained in detail tle
difference between the Ssuate bill and tie
conference substitute. Tskns the changes
in their order. Mr. Allrich said the first
amendment was in The section defining the
standard OF value. This he explained was
purely verbal change difference in
phraseclogy in his opinion,
strengt thened the whole section.
The second amendment was he addition
of the following words to tae provi ion for
maintaining the plrir- OF United States
money: And it shall be- The duty Of tie
Secretary OF the Treasury 60 mainJaia .uoh
parity" Mr. Aldrich said that the Senate
bill contained most solemn and direct
pledge that that duty should b. performed
and. ia his opinion. imposed ii upon the
Secretary Of the Treasury. but that the
House conferees had insisted upon the in
jur,uon being definitely ncJIpoiated in
the bal.
The Gold Reserve.
The next amendment added the words
or bullion" to the provision stating that
the gold reserve might be OF gold coin.
Mr. Ndrich stated thai the two words
we're added because the present facilities
for the coinage Of gold would not admit Of
coming that metal in sufficient quantity to
maintain the reserve Iie explained that
as soon a. the new mjnJ a. Phi a1elphia is
completed that difficulty VIII be obyia ed.
He said that this amendment already con-
tained in section . which provides that
the Secretary OF the Treasury may. in his
discretion. use notes in exchange for gold,
or 90 purchase or redeem any bonds OF The
United States. except that the notes le-
deemed and held for exchange shall not be
used to meet deficiencies IN the current
revenues
The next amendment was in the lolm Of
a new section, which provides that no,hrg
in the act should be construed 10 aff1ct n
legal tender qualities OF the silver DO lar.
OF any other money coined or issued by the
United States.
Mr. Aldrich said d had been afgu d that
the declaration OF the gold standard tOok
away from the silver dollar its legl tenser
quality, and the conferees had thought il
desirable to insert that express provision
in the act
The next amendment provided that so 4
States notes and silver certificates in the 4
general fund Of the Treasury shall exceed |
S60. eco o00 the Secretary may suspend the /
issue OF certificates. Mr. Aiirich explained 1
that this provision wss simply another way 1
Of protecting the reserve.
silver Certificates.
The next amendment was a recast Of /
section as to the denominations OF the 4
silver certificates 10 be issued by the Sec
retary Of the Treasury so as to make the I
section read.
"ss 1cn :. That hereafter silver certi- I
hcstes shall be issued only Of denomina- 1
tions OF SO and under. except that not ex- I
ceeding iu the aggregate 10 per centum 1
Of the total volume OF said certificates iu 4
the discretion OF the Secretary Of the I
Treasury may be issued in denominations
Of $50. -S5G. and S1O0; and silver certificates
of higher denomination than $40 except (
as herein provided shall. whenever receiv-
ed at the Treasury OF redeemed be retired
and Cancelled, and certificates Of denomina-
tiOns OF SO or less shall be substituted
therefor. and after such substitution in
whole or in part, like volume Of United
States notes Of less denomination than SO
shall from time 10 time be retired and
Cancelled and notes Of denominations OF /
SO and upward shall be reissued in sub
stitution thereof, with like qualities and
restrictions as those retired and Cancelled"
The next amendment. Mr.. Aldrich said,
was in section s. Il authorized the coinage
of twenty millions Of additional subsidiary
silver coin, so as to make the total one (
hundred millions, the present amount out
standing in circulation being eighty mil
lions
Mr.. Teller said that a hundred millions
in subsidiary silver coin was not enough
and that England, with a population OF
IS goo GEO. kept $ll0. coo 0o0 Of subsidiary !
coin In circulation. He thought that two I
hundred millions OF subsidiary silver coin
should be provided for.
Mr.. Aldrich admitted that that would be
advantageous. but said that the Conference
Committee had not deemed it wise at this
time TO make the subsidiary silver coin 1
more than one hundred millions. He said ,
he had no doubt that the amount would
have TO be largely increased. and that il
would be within the power Of Congress to
increase &C.
The next conference amendment. Mr..
Aldrich said was simply q modification
OF the provision in the House bill foc the
recoinage OF worn ana uncurrent silver.
The next amendment was a modification
OF the provision as TO national banks i'm
a
with $4,000 capital in towns Of 5000 in
habitants. and with s25 090 capital in towns
OF 2.000 inhabitants
The next amendment being in relation
10 national bank notes led TO a dls7ute
between Senators Aidrich and Allen. in
which Mr.. Aldrich alluded 10 Mr. Allen as
coming fresh from a conference with Mr
Bryan. the Democratic candidate for the
Presidency This was denied. with some
heat bv Mr. Allen who said that he suol..
fo- the State which sent him here and for
himself
II Nj Bryan were here now " he added
and had the privilege oi this floor the
Senator from Rhode Island would not be
throwing out these iusinuAuons."
4 am not throwing out any insiGu8-
ions, Mir. Aldrich replied, i am merely
stating facts"
Il hope Mr.. Allen continued chat The
Senator from Rhode Island will uot con-
slider II proper TO sneer at a gentleman .
" no is his equal at all times ana smdor
an circumstances. and who cannot ugr-
iicipate in th!s debate"
u have not sneered az him or al lis q
position. Mr.. Aldrich said and he .dded 7
some words iatimating that Mr. Allen was !
cooperating with the Democratic party.
4 want to hold up both hands" " declared S
Mr.. Allen and say ] am not responsible Q
or the Democratic party. That party can
,sre FOR Itself, and the little party with {
which ! act is amply able TO care for Itself
The distinction between the Democratic
1aTty and the Populist party IS as marked
as the distinction between the sun and
noon. 7
what is the difference" asked Mr.. r
Nolcott
Doctrines of Two Parties.
Mr. ALEU- replied: In the first place. :