The Taney County republican., 1900-06-28
Work Done by Congress.

last session of Congress passed 49,
public acts, which had been approved
bv the President, up to and intending
the month Of May. Many Of these
we're of general public interest and
were carefully considered by both
Houses.
An act to define and fix the stan.
dard Of value, to maintain the parity
Of all forms of money issued or coin.
ed by the United States, to refund
|>the public debt, and for other pur.
poses, was the first bill passed through
the House of Representatives, and be-
came q law on March IA last.
This bill is the most important OF
all that became law during the ses-
sion. 1t places the finances Of the
country firmly on the gold standard.
No public official can hereafter dis
parage any dollar issued by the Unit
ed States until the Senate and House,
with the approval of the President,
shall concur in amending this statute.
The bill also provides for the re-
funding of the national debt, amount
ing to $S50,O00,O0O, into 2 per cent
bonds. Since the passage of the act
this refunding process has been con-
stautly going on, and now reaches
about $2s,O0O,O00. As the old bonds
bore interest at the rate of 8, and 5
per cent, the national saving of inter-
est on the bonds already refunded
amounts to considerably moro than
$5.O0O,000. This saving will nearly
equal the entire interest on the $780,
100000, borrowed to pay the expense
of the Spanish war.
Should we succeed in refunding
the entire Indebtedness Of eight hun
dred and fifty million at the low rate
of 2 per cent interest the national
saving in interest would not only pay
the interest on the Spanish war loan,
but also the interest on the $500, ,O0O,-
900 Of bonds issued by the last ad-
ministration in time Of peace.
Under the minor provisions Of the
bill there has been q great increase of
national banks of limited capital in
the smaller towns, particularly of the
Western and Southern states.
Bills providing for the government
of the Hawaiian Islands and Of Porto
Rico. after long consideration, have
finally become laws, while the bill
for the government of Alaska has
been passed.
The feature of the Porto Rican bill
which occasioned most discussion is
the most liberal toward that island
of any ever incorporated into law.
It provides a slight tariff on the pro-
ducts Of that country to the United
States, aud also OH products shipped
from the United States to Porto Rico,
necessaries of life, all of
which is turned over to the treasury
of Porto Rico for q period Of two
years, or until local taxation can be
provided the new government. At
the end of two years trade between
Porty Rico and the United States be-
comes absolutely free.
Not only this; Congress has appro-
priated all the revenue derived from
goods imported into the United
States from Porto Rico since the oc-
and amounting to more
than two million dollars, tor the bene-
fit Of the people of that island. All
tariff collected at Porto Rican ports
is also to be used for that purpose.
This was boon to those people, JUS
titled by the circumstances, and un-
paralleled for generosity toward any
people.
This Congress also passed tho Free
Homes bill, giving free homesteads
on the public lands to actual bona
fde settlers. This was measure
pledged by the platform of all parties.
An amendment to the pension act
of 1890, known as the Grand Army
bill. has also become q law.
A law of much Importance passed
during the session was that allowing