New-York tribune., 1903-03-01
AYES.

An amendment offered BY Mr.. Adrich WAS agreed
to- providing that bonds OF cities and counties "h
ten thousand inhabitants may be accepted as Sc
curlty for government deposits. The bill or'slnanS
fixed the number of inhabitants at nifty thousaIlo'
DEMOCRATIC OPPOSITION.
Mr. Berry opposed the bill on the ground that 1t
extended and enlarged the powers OF the Secre-
tary of the Treasury. It permitted him. ne sa'o'
TO select particular class of national banks win
which he will deposit money. But ne couid hoS
extend the privilege to any State bank, although
it might be solvent than. equally as solvent
as the national bank. Her declared that the Ia"
would be used for political purposes. and for "a
voritism. Under the operation of this law ne
said when money is loaned to national banks IT rs
not intended that it shall ever be repaid Con-
tinuing he said: mo wonder ]. Pierpont morgan
to-day, by reason of the transactions he mas had
with different Secretaries of the Treasury, mas
gained such an immense fortune such controI
over the business organization that ne Is more
powerful even than the President himself He
charged that the coal operators would not agree
to arbitration until Mr. Morgan told them to. lie
referred to a personal statement made TO him by
Mr.. AIdrich, that the national banks are opposed
to the BILL and said that il this their repre-
sentatives would be appearing In the loboies ana
in the Marble Room opposing it wiki all the power
they have.
Mr.. Bate offered an amendment providing for
the repeal Of all laws imposing any tax on bank
notes issued by banks corporations OF assoca-
tions chartered or otherwise. by any State.
ing the Secretary of the Treasury, so far as pract
cable to distribute the deposits authorized fairly.
Mr. Stewart contended that the law would give
the country more stable money. keep it in circula-
tion and stop contraction and hard times
Mr. Clay called attention to the provision for the
acceptance of bonds OF any city county which
has been in existence for twenty-five years, and
said that If enacted into law it would practically
| outlaw ten States.
Mr.. Turner followed in opposition to the bill.
| He had spoke briefly, when Mr.. AIdrich asked
unanimous that the eulogies intended to be
delivered to-day dead members be delivered to-
morrow instead.
Mr.. Dubois objected. Mr.. AIdrich appealed to
him 70 withdraw his objection, saying that there
would be good purpose In forcing the Senate to
give up the consideration Of important business.
NOT Mr.. ALDRICH's FUNERAL.
J Mr.. Dubois said Air. Aldrich as responsible
anybody for the croEding of legislation at this
time For fourteen weeks. he said. the Statehood
bill had, been discussed and yet could not be
passed, even though It had fifty votes behind it.
He referred to an article on the tariff in a weekly
publication in which Afr. Aldrich declared TO
be the boss of the United States Senate" He
went praise the ability, activity and skill of
the Rhode Island Senator, when he was interrupted
by Mr.. Burton. who inquired IL eulogies we're being
delivered
Mr. Dubois replied that If Mr.. Burton had done
him the honor to listen 20 him he would have
known that he was paying a tribute 10 the most
lively man In the United States to-day
the Philippine Tariff bill and other important
measures mo matter If 1t defeats everything the
President has recommended by special message
Resuming his remarks. Mr.. Turner said the bill
proposed the srOssest piece of favoritsm to class
in this country who already have been too highly
favored by Law. 1t the old Sub-Treasury
scheme he said, Of the old Populist party. except
that the benefciaries under 1t are the national
banks and not the farmers. The PopuItst measure
had been laughed to scorn. and this would share
the same fate.
Mr. Hoar criticised the bill as containing no pro-
lection against favoritism and advocated the adop-
ton OF Mr.. Clay's amendment. He offered an
amendment to Section l, authorizing the Secretary
of Treasury to omit such assets of repositories
he may deem proper from the effect OF the lien
given to the government on them 1t was accepted
by Mr.. Aldrich.
Mr.. Berry then moved to displace the AIdrich
bill with the Antitrust bill, but the motion was
defeated by a party vote, except that Senators
Hoar Nelson and Mason voted in the affirmative
with the Democrats. The vote stood 80 to a..
The conference report on the Military Academy
Appropriation bill was agreed to- With a few
minor changes the bill is the il passed the
Senate.
BAILEY's FINANCIAL VIEWS.
Consideration OF the AIdrich bill then vas re-
sumed. Mr.. Bailey said he intended to vote for
the bill but his course would be accentuated by his
aversion to the accumulation of money in the
Treasury. He explained that not only op-
posed TO keeping the surplus in the banks, but was
against system Of taxation that would make
surplus. As however. he could not nave his way
about the accumulation. he was willing to unite
with Senators in taking the next best course which
was TO distribute the money already collected He
said the only argument against the bill s that the
banks are the principS beneciaries % This Tas nc
in the United States is. he said. much abused
the banks He had no objection to using them.
and could see no reason why the United States
should not the banks for puttiEg the surplus
money out, when by doing the people can get II
when they need II. He said IL was Inconsistent for
the Democrats to demand an expansion of the cur