Los Angeles herald., 1905-12-08

rado.
Bond Proposition Opposed
a provision which would operate to
reimburse the treasury for the 100000
900 already expended I'm the construc
tion of the canal from the sale of the
canal bonds was proposed by Mr..
OVerstreet of Indiana. Vigorous op-
position to this was made by Mr.. viii
liams of Mississippi who declared dra.
matically: Take this step II Won
dare! The Democracy challenges Won.
There Is drop of water somewhere
which will overflow the cup. What
excuse are you to offer the American
people for borrowing money at 2 per
cent when you already have abundant
funds in the treasury and deposited
in national banks?"
MIR. Payne OF New York followed also
in opposition to the amendment This
sum had already been paid and there
was no need to put it back into the
treasury.
We are running. pretty close" he
said. "Our receipts and expenditures
are about equal. If this abundant
prosperity should continue to the end
or the fiscal year we may not have "A
Gef1cit. But no man or set of men will
ever be able to work out the revenue
e1 penditures even.'
A surplus, he said, was absolutely
necessary, Notwithstanding the gentle
man from Mississippi, who had been
barking into that hole for long time,
but without attracting very much at
tenicn from the American people.
Talks of Disaster
In arguing for the necessity of main
tanning a surplus in the treasury Mr..
Payne referred to what he contended
was the possible disaster of Demo-
cratic rule" and added that zone of the
cycles of depression which Mr.. Will
liams had often argued about might
arrive"
"Fhen," interrupted Mr.. Williams, "I
understood that the $61,OO0,OOO surplus
in the treasury over and above that
S15,OOO,OOO declared necessary as work.
ing balance by treasury officials, and
$5,O00,OOO of which is on deposit in ma
tional banks, with interest, is necessary
to guard against recurrence of Demo-
cratic rule or one of Mr.. Williams
cycles?"
The amendment was defeated.
An amendment striking out the bond
ing provision of the bill was next
moved by Mr.. Williams. The amend
ment was defeated-107 to 1852.
Mr.. Williams offered an amendment
making it discretionary instead Of man
oatory for the secretary of the treasury
tc reimburse the treasury by the bond
sale for the amount carried in the bill.
This amendment was also lost--89 to
131.
An amendment giving the secretary
of war authority to fortify the canal at
oI, tO,,. ,i,,,I
CESS of Texas.
The fortification amendment was lost.
Amendments requiring detailed state
ments Of canal expenditures and esti-
mates to be furnished to congress at
the beginning of each regular session
were submitted by Mr.. Tawney of Min
nesota, Mr.. Fitzgerald Of New York
and Mr.. Mann Of Illinois.
Mann Amendment Adopted
The Mann amendment prevailed. 1t
provided as follows:
THAT the president shall annually
and at such other periods as may be
provided, either by law or by his order
Iequire full and complete reports to be
rade to him by the persons appoin ted
or employed by him in charge of the
government of said canal zone, the
the operation of said Panama railroad,
including an itemized account of all
moneys received and expended, which
said reports shall be by the president
transmitted TO congres. And any OF
the persons appointed or employed by
the president in connection with the
said government or the said work of
construction or operation shall give to
congress or to either house Of congress
such information as may at any time
be required, either by act Of congress
or by the order of either house of con-
gress, in relation to their respective
acts and doings. and the receipt and
expenditure of money. The president
shall annually cause to be made, by
the persons appointed and employed by
him, in charge of the government of
said canal zone, and the construction
OF said canal, estimates of expenditures
and appropriations in detail as far as
practicable which estimates shall be
submitted to congress, and no money
shall be expended for any of the pur-
poses named in this act except in ac-
cordance with appropriations hereafter
made by congress, except that the
moneys received in the ordinary course
OF business from the operation of the
Panama railroad and the property and
rights appertaining thereto, may he
expended, so far as necessary, in de-
fraying the expenses of such operation.
including maintainance, without being
covered in the treasury of the United
States, and such moneys are hereby APP
proprated for such purpose and month
ly reports of such receipts and expendi-
lures shall be made to the president by
the person or persons in charge"
The bill was then passed without OPP
position.
The house, at 1886 p. m, adjourned
until Monday.