The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1900-03-04

Washington. March 3.-The senate
held a brief session, adjourning on ac-
count Of the death Of Representative
T.rues Of Virginia. During the session
Mr. Ross Of Vermont spoke in opposi-
tion 10 the seating Of NJ. S. Quay, and
Mr.. Teller spoke in criticism of the
conference report upon the currency
bin. A number Of private pension bills
were passed during the day.
When the senate convened Mr.. Petit
grew introduced and the senate passed
"a resolution instructing the secretary
Of war TO send 90 the senate the court
martial proceedings Of 1854 against
Lieutenant Colonel Corbin, now adju-
tant general Of the army. The Tes0lu-
ton also calls for other information
bearing upon General CorDin's military
record.
The Quay resolution was then laid
before the senate and Mr.. Ross va
argued against the seating of Mr..
QUAY. He announced that his cOnclu-
sion had been arrived at only after
careful study of the constitution, and
his argument was based entirely upon
his construction of that instrument. He
commended that under the constitutional
provision a vacancy in the senate
could only be filled when it occurred
during d recess Of the legislature. The
Quay case did not, TO his mind, meet
this requirement
Teller on Financial Bill.
Al TN, close Of Mr. Ross speech Mr..
Teller (COloD took the floor to discuss
the conference report on the financial
bill He maintained that too much
power was given the secretary OF the
treasury. and he was opposed to ali the
provisions Of the message. which he
discussed in detail Mr. Teller said he
did not believe it was good thing 10
extend the public debt. but he did net
think the gold standard could be main
tanned without it.
Mr.. Teller asserted that there had
been no effort made in the last twelve
years to reduce the public debt, nor
would there be by the Republican par
~. Mr. Teller asked why, with all the
money in the treasury. il could not be
used 90 pay current expenses instead OF
issuing bonds.
Mr.. Allison replied that this would
prevent any evil effects from possible
endless chain. and was 20 prevent a
Grain upon the treasury.
Dir. Teller said the power conferred
upon the secretary Of the treasury I'M
der the proposed law was practlcally
unlimited. He thought that, except in
extreme cases it was mistake to give
unlimited authority 90 an authority he
did not. therefore. believe the secretary
OF the treasury should have power to
suspend the issuance Of certificates
There was. to his mind. no reason for
Che provision for the exchange OF
bonds
Pays No Taxes.
Referring TO the premium of 6 per
cent on the proposed bonds, Mr.. Teller
argued that they would still go higher
because the holder could at any time
get the full face value Of them IN
money. drawing per cent interest.
while holding the bonds, meantime pay
in- no taxes.
lie predicted that under the opera
ton of the proposed law the hanks
could control the volume of the cur
reuoy. When they want to create tall
i'm prices or To- cOerCe congress they
will have nothing to do but go 10 the
treasury with their notes, get the cur
r5r.v and return them when they get
ready. thus forcing contraction or ex-
Yau-..u ut VIII. and thus, he supposed,
giving MS the promised elastic cur
I-ugr Under this provision the banks
would practically control the business
O. thu country.
Referring To the recent act of the
treasury in coming 20 the assistance Of
the banks in an emergency. he said that
tho money then deposited could not
now b. taken out without creating dis
as. rous effects He did not mean 20
crticise Secretary Gage for his action
IN that matter He did not believe him
g. be dishonest but under the power
gwen dishonest man in his position
could have mad. untold wealth out of
Oh. transaction.
Banks Not to Blame.
Ho did not blame the banks. he said.
tlt the system which allowed the gov
eminent to go to their relief when
asked for relief. Why should the gov
eminent sustain a bank any more than
any other institution
AIR. Teller criticised the bimetallic
e- aratl'u of tu. bill rs silly and
weak. because &c meant nothing No
man who had voted for the bill as il
passed had q right TO call himself a
y.U. -allisJ. Senators who had stood
Der" for years calling themselves hi
i...a.lists had accepted the gold stand
DIT. .iI al i1e diutarlou OF q caucus
am. he probability was that they
YOU'D go To- The tuu length demanded
by Che banks
AT 3 o'clock the pension appropria-
On. Hi. was taken up. but on account
I'M slim attendance of senator's its
ma. .1usider3tion was proDosad. The
E1en Went info a.-41r1ffy-a SOS.