Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-02-28
BY ABOUT FIVE VOTES
CONTINUED from First Page.)

/
in the opinion OF. the Secretary of the
Treasury, may cause a contraction OF the
| currency.
| The next amendment provided for the
| coinage of subsidiary silver to the amount
| of S20,Hn.O00 in addition to the $50 600 900
| now in circulation. Mr.. Aldrich said the
| committee did not think it was at this time
| wise to increase the additional sum-
| but he was of opinion that in view of the
needs of our island possessions it soon
| would have to be increased.
me next amendment was new section
providing for the coinage of worn and I'M
| current subsidiary silver coin. and was
| purely administrative in character.
| More Banks.
| The following amendment provided that
| national banks with capital of s25.OO
might hr organized in towns of 5000 in
| habitants, instead of 1000
| Another amendment administrative in its
nature was the making of appropria-
| ton to pay for the printing and exchange
| OF bonds issued under the bill.
| An amendment was. also made to permit
banks to issue one-third of their circulating
| notes in denominations of 81. This was
agreed to because banks in remote parts of
the country needed good deal of currency
| In small bills in order to accommodate their
customers.
| MIR. McLauriB on the Philippines.
After M. Aldrich's explanation of the
! conference report on the financial BILL Mr.
McLaurin (S.CD addressed the Senate on the
| Philippine question. Mr.. McLaurin said in
part:
| In the discussion Of this question there
| had been manifested disposition to ignore
| the conditions by which We are confronted
ana to project the debate upon a line of
political sentimentalism. This mode of dis
| cussion is not only unpatriotic but is an
| evasion OF the true issue. This is not
! political question
| Mr.. McLaurin strongly deprecated the DO
sition which the democratic party had
| taken in making the Philippine question
| ana expansion political issue. He point
ed to the past to show that some of the
| greatest Democrats who ever lived were
| eHpans1onlsts, and to prove by their acts
| ana measures that If it had not been for
| them the United States would not have
been the nation it is today.
| he TOOK the ground that the Philippines
! are rfghtfully and legally ours by the treaty
| OF Paris, and that the United States should
| notd tnem affording the Filipinos every OPP
| porfun1ty to acquire the art of government
and giving them all the powers and rights
possible IN the circumstances. He dweit
| afforded by the islands for trade between
| Americans and the nations of the orient,
| he did not agree with some of his COL
| leagues on the democratic side that our
| trade IN the east was mere Pigment of the
| imagination. He quoted statistics to prove
| that the experience of the last decade con-
| tradlcted those who asserted that our east
|
| 1T is IN the orient. said he. that we
| must look for markets. There must be a
| change In our policy. We must enter into
actual competition for this trade. We must
] as nation recognize changed conditions
| and l believe that by holding the Philip
| pines our trade in the orient will continue
| to increase, until all surplus products for
years to come will find remuneratiy, mar
| kets in the east
Interests of the South.
| MpT Ri
interest of the south in the expansion of
! our trade.
| Il am glad" said he, ito believe that the
southern people have determined to inves-
| tisate and study this question FATHERS than
! to be led olindly by political antf-expan-
| slonists The southern farmer by the in
| creased price received for raw cotton last
| year, has become aroused. Fealty to party
and misleading information, 1 fear have
| produced among them opposition to terri
loflal expansion. The effort has been made
| IN my own state to suppress all informa-
| ton and arouse public sentiment against
| expansion. The frightful ghost of i'm
! periaism has been held up before the peo-
pie OF the south to frighten them. but 1 be-
| lieve 1t Is Impossible much longer to thus
mfslead them
Mr. McLaurin said. in sketching the prog
| ress OF the south during the past twenty
years, that the blight of negro suffrage and
| negro domination had almost extinguished
| hope and energy and manly effort. but like
| giant bound with letters, she aroused
herself at last and again started upon an
| era of industrial life
| Capital has flowed into that section"
| said he. There is confidence in all south
ern enterprises. The bitter memories of
! the past are being forgotten In the rush
| of the development of our resources Orr
| people feel that they are again in part of
| this great country and are left free and
| untrammeled to work out their own des-
! tiny. Our southern manufacturers have al
| ready reached out to the markets of the
| orient and discovered their advantages
| The southern farmer needs such markets
! remunerative.
BY the acquisition of the Philippines we
| hold the key of the eastern situation We
| need not rely solely upon treaty rights 10
| secure the open door, but can demand
! equal commercial opportunity with other
| nations and. if necessary, with the vantage
ground we have, assert that demand VIII
| the United States throw away the golden
| opportunity by giving up the Philippines
| am in favor of holding them, and | be-
| neye the southern farmers and manufac-
| turers will sustain me in my position.
| believe further that the presence of the
| United States and of its flag. the emblem of
| human freedom, progress and civiiza ton
| will carry to the millions In the orient un-
| numbered blessings, which in the coming
| years will be for their betterment and
| amelioration, and will conduce to the per-
| petuity and glory Of our free institutions
and the commercial supremacy of the ma
| ton
| The next change which Mr.. Aldrich ex-
| planned provided distinctly that the Sec
| rotary of the Treasury should not use the
| money raised by the sale of bonds for the
! payment of the current expenses of the
| government.
THE House conferees insisted" Mr.. Aid
| rich said, there was a possibility that
| the so-called endless chain might be es-
| tablished The Senate conferees maintatin-
| ed just the opposite. Finally, however this
| provision was agreed upon. 1t expressly
| forbids the Secretary of the Treasury from
issuing the money raised by the sale of
] bonds for the payment of current ex-
| penses." - - 80 e'+...
The next amendment was the insertion of
I a new section providing that nothing in the
| present act should affect the legal tender
quality of the silver dollar, or of any other
money of the United States. This section
was deemed desirable in order to remove
any possible doubt to the retention of
the legal tender quality Of silver
| The next amendment provided that two
| new divisions should be established in the
Treasury Department, one of issue, and the
| other Of redemption The funds established
| in these divisions were to be regarded as
trust funds and should be used for the
| redemption Of the notes and certificates for
| which they were respectively pledged and