The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1900-03-14


legislative step in the enactment Of
the financial bill was taken by the
house Of representatives today. when
the conference report on the bill was
adopted by a vote Of yeas I66: nays.
120; present and not voting. 10 The
senate had already adopted the con-
ference report so that it only remains
for the president TO afix his signature
to TIE measure to make it a law.
Representative Oersireet, the author
Of the bill, viii take it TO the White
House tomorrow and the signature is
likely TO be affixed soon thereafter.
a number of minor bills were passed.
Mr.. Grow (Pa.), in a personal state
ment denied that he had ever said in
a newspaper interview that the Porto
RIcan bill was an outrage and rob
erv.'
Then under the order previously
made, the house proceeded to the con-
sideratIon Of the conference report upon
the financial bill.
oVerstreet Explains Bill.
Mp. Overstreet Qnd.), who was in
charge Of the report exp. aimed in de-
tail the notifications Of the H. Mr.
OveEstreet said that every principle
contained in the house bill had been
preserved in the conference report eX-
cept those relative to the taxation Of
national bank franchises.
The establishment Of the gold stand
ard into law was still its all-impOrtant
and essential feature. This law would,
he said, become the fOundatio Of bust
ness prosperity Of the country.
Has the secretary OF the treasury
the power to redeem a silver dollar in
gold under the amalgamated bill?"
asked Mr.. ShafrOth (COlo.)
He has not" replied Mr.. Overstreet,
"and he did not have the power under
the original house bill"
Under this bill viii private obliga-
tions be made payable in gOld?" in
quired Mr.. Snodgrass (Penn)
Conform to Gold Standard.
Under section Of the original house
BILL" replied Mr. Overstreet, public
and private debts were made cOnforma-
tive TO the gold standard. That sec
ton is omitted from the report, first,
because il is a question in law whether
IL would not be retroactive. and sec
ond, because having fixed the gold
standard and recognized it by con-
verting all public obligations into gold
obligations there viii be no necessity
to legislate concerning private obliga-
tons, as they will invariably reflect
the character Of government obliga-
tons"
Mr. Williams Qlls.), asked whether
il would not be impossible in case an
international bimetallic agreement was
reached, TO escape paying the refunded
thirty-year ? per cent gold bonds in
gold and. such being he case, whether
the bill could be considered an en-
cOuragement TO international bimetal-
lism.
No Hope For BimetaIIism.
gold, replied Mr.. OVerStreet. This bill
holds out not the slightest hope of
international bimetallism under present
conditions. l say frankly that this bill
Will make it practically and absolutely
impossible ever to have international
bimetallism at the ratio Of 16 to l."
Mr.. McRae (Ark) followed Mr..
Oyerstreet with a general argument in
opposition to the principles embodied
in the bill.
Mr.. Fitzgerald Cdass) spoke of the
frequency of national bank fail
ures and citing the Globe National
bank case, asked what protection peo-
pie had when the government bank
examiners pronounced the institution
all right at the time irregularities were
going on
Mr.. Hill Comm supported the confer
ence report and Nessrs. Maddox CGaD
Noonan tIll) and ShafrOth (COl.) spoke
against it.
Mr.. Little (Ark). closed the de-
bate against the report. He severely ar
raigned the infamies Of this BILL and
the stealth, deceit, fraud and eorrup-
ton by which this conspiracy has
forced its Shiny course along the path
way Of legislation, until now we are
to witness in the light Of day, its tri-
umph over a free people" He declared
it would mark the blacklist page in our
legislative history. He closed as fol-
lows:
Bryan the Only Hope.
1.-THE forces Of patriotism and integ-
rity have selected their leader in ad-
vance Of the convention, which action
will be ratified on July 4, and with that
leader-the incOrruptible, invinci bic and
fearless tribune Of the people. William
Jennings Bryan-they viii drive Won
and the cohorts Of corruption from pace
and power forever" Democrats an
plauSe.)
Mr.. Brosius PENN chairman Of the
OF the committee on banking and. cur
rency, and one Of the cOnferees. on the
financial bill closed the debate in sun
port of the bill and concluded in part
as follows
This measure is a long measure to
ward the splendid pre-eminence we are
achieving as a world power. American
credits are affecting the finances Of the
world. The British war loan and The
Russian loan have sought American
takers and we supply these calls as we
did the payment to Spain, without
strain, out Of our abundant CONNER
cial credits abroad
Are Momentous, Events.
These are momentous events Thu,
show the marvellous DEVELOPMENT of the
United States and the power to COM
mand them makes and controls the
Finances OF the world. Financial enuire
IS before Us and following in the wake
of commercial superiority, New Yorl-
VIII ere long have supplanted landau
IS the clearing house Of the world. let
US then go forward achieving a prins-
acy among nationas and taking that
position assured by our great opporrun-
tiles and manifest destiny.
The conference rport was thin aeraad
to-yeas loo, nays 120; present and NOT
voting 10. Nine Democrats voted with
committee on banking and chr
VIZ; Clayton. briggs. UnderhiH, Lew
Scudder, all Of New York; Denny,
Maryland; McAleer, Pennsylvania,
Thayer and Fitzgerald, Of New Yorlr
In other respects the vote was on party
lines.
At 90 P. m. the house adjourned.
Anaconda Standard; As 10 the Porto
Rican business. Mr.. Mckinley Womb
rather be president than right.