I .
2820 CONGRESSIONAL RECORD-HOUSE. MAROH 13,
InsuranceOompanyvs. Canter (l Pet.,J>ll); United States vs.Gra.tiot(liPet., 526); Cross vs. Harrison (16How.,164:); Dred'Scott vs. Sandford (19 How.,393). PAY INSPECTOR IN THE NAVY, Mr. President, the next case t-0 which I refer is that of Callan Paymaster Josiah R. Stanton, to be a payinspectorin the Navy vs. Wilson (127 United States, page .550). The direct question in from the 20th
Mr. SHERMAN. This bill, M1·. Speaker, was prepared in con- Mr. Speaker, in some of the newspapers it was stated that I bad formity with the request of the Light-Honse BoaTd by the gentle- said in an interview that the Puerto Rican tariff bill was an out man from New York [Mr. ALEXANDER]. It was thereafter.sub- rage and robbery on the people of Puerto Rico. I voted for that mitted tothe War Department for report thereon; andareportwas bill and should have voted for it.if the duty imposed had been 25 returned favorable to the bill, after which it was unanimously per cent of the Dingley ra~s instead of 15; and I think it ought reported by the Committee on Interstate and Foreign Commerce. to be still higher, as the best and wisest mode to relieve the people There being no objection, the House proceeded to the consider- of that island and enable them to restore their prostrate industries. ation of the bill; which was ordered to be engrossed and read a Now, by permissiop. of the House, I desire to correct one other third time; and it was accordingly read the third time, and passed. statement published in some of the newspapers in Pennsylvania, Mr. SHERMAN. The committee reported an amendment to which statement was that I had voted to admit Brigham H. Rob- the title of the bill. erts as a Representative from Utah. Before Congress assembled, The amendment was read, as follows: in an interview which was correetly published in the Washington Amend the title so as to read: "A bill to establish light and fog stations to papers, I stated that whatever was a good and sufficient reason mark the main southern entrance of the new breakwater at Buffalo, N. Y." for expelling a member from a seat in the House was a good and The SPEA'XER. In the absence of objection, the title will be sufficient reason for excluding him from taking a seat, and I voted amended as proposed by the committee. in that way. There was no objection. That newspaper reporters should make inaccurate statements On motion of Mr. SHERMAN, a motion to reconsider the vote is something that I never should trouble myself about, for in get- by which the bill was passed was laid on the table. ting general information afloat everybody is liable to that; but HEms, ETC., OF PHILIP M'LOSXEY AND JOHN RAGAN. when a statement. is made which is exactly the opposite of the real facts and record in a case I think it proper to correct it. Mr. TAYLOR of Alabama. I ask the present consideration of Mr. RICHARDSON. If any gentlemen desire to make any the bill which I send to the desk. apologies for their votes on the Puerto Rican bill, I hope they The bill (H. R. 2456) for the relief of the heirs and assignees of may be heard. Philip McLoskey and John Hagan was read, as follows: .Mr. PAYNE. I ask unanimous consent that the gentleman Be it enacted, etc: That the title of the heirs of Philip McLoskey and John from Tennessee [Mr. RICHARDSON] be allowed to explain why he ~agan, late of Mobile, Ala., deceased, or of such person or persons !J8 by.a:s- changed front on the appropriation bill for Puerto Rico in forty s1gnment, transfer, or conveyance from, through, or under the said Philip . McLoskey and John Hagan may have claims thereto, to that certain prop- nunutes. erty in the city of Mobile, Ala., particularly described as follows, to wit: l\1r. RICHARDSON. I am entirely satisfied with my course on Beginning at the northeast corner of Roynl and Conti streets and running ~h ccasion · north 74° 30' ea.st a distance of 112 feet 8 inches to a fence, thence north 18° ' west a distance of 113 feet 6 inches to a stake, thence south 74° 30' west a dis- THE FINANCIAL BILL, ta.nee of.108 feet 9 inches to .the east side of Royal str~et1 thence south 16°_~~ Mr. OVERSTREET. Mr. Speaker-- east a distance of 113 feet 6 mches to the place of begmnmg be, and the sal.9Mf Th SPEAKER Th · · I di M O is hereby, confirmed, respectively, to the heirs of the said Philip McLo~y e . e. gentreman .from ~ ana f:J\ r. VER· and John Hagan, or to their a.sSJgnees or grantees to whom they may have STREETl calls up the special order, which the Clerk will report. c~nveyed ~he same o~ any _Part t~ereof during their lives, according to the The Clerk read as follows: rights which the said hell's, assignees, transferees, or grantees ma.v have . . . thereto from, through, or under the said Philip McLoskey and John Hagan: On motion of Mr. OVERS~REET, l;>Y unanunous conse~t, 1t was ordered that Provided, That this confirmation shall only extend to the relinquishment of on Tuesdaynext,March 13, unm.~iate:1-yafterthe reading of the Journal, the any title which the United States may have to said land. Ho~e shall J?roceed. t? the cons1derat10n of the confe_renc:e report o.n H. R. !1 "A bill to define and fix the standard of value, to mamtain the parity of au Mr. PAYNE. Reserving the right to object, I should like to forms of money .issued or coined by the United States, and for o_ther pur- hear an explanation of this bill. J?Oses," and at 4.30 o'clock p. m. a vote shall be taken on the adopt10n of the Mr. TAYLO.R of Alabama. M:r. Speaker, this bill was referred ieport. (Order made March 8·) to the Committee on .Public Lands, and after careful investiga- Mr. OVERSTREET. Mr. _8pe~ker-- . tion it was discovered that in 1828 an act was passed authorizing The SPEAKE~. The Cha1r Wlll call the attention of the gen- the purchase of a site for a custom-house in the city ot Mobile. tlemen from Indiana to the fact that .the statement of the House Three separate lots of land were offered for sale to the Govern- conferees wa~ rea~ and tha~ the readmg of the conference report ment for that purpose. A conveyance was made.of this lot by on the financial btl~was waived. . the owners, McLoskey and Hagan, in 1830. The Government de- Mr. OVERSTREJ..:.IT. I merel~ WI~h to say at the ?~tset, Mr. clined to receive the conveyance on account of a defect in the Spe~ker, that I assume that the time IS to be equally divided, one title to the property; but the conveyance made by the owners was half to be controlled by myself and the other half by the gentle recorded in the probate office of l\.fobile County, and remains of man from Tennessee [Mr. RICHARDSON], although that was not a record still part of the order. The Gov~rnment thereafter purchased another of the three lots The SPEAKER._ The gentleman from_ Indiana [l\fr. . 9~- on which the custom-house, as it now stands, was erected. STREET] as~s nnammous consent that the time be equally diy1ded The conveyance of this lot, made by the owners in 1830 to the. be~we~n himself an?- the gentleman from Tenn~ssee. Is there Government, being of record, remains asa cloud upon the title in O~J,ection? The Chair hear_s none, and that order is made, the hands of the present owners. The sole object of this bill is to Ihe gentleman from Indiana. . . remove the cloud upon that title. The report of the committee is Mr. OVERSTREET.. Mr. Speake!, m order.to brmg proper~y unanimous in favor of the passage of the bill. be~ore ~h!3 Honse any d~erenceswh1ch may.exist between the bill Mr. LACEY. As I understand, the Secretary of the Treasury as it ongmally p~sed thIS H?use and the bill as reported by ~he { caused a search of the records to be made and ascertained that the conforE'.nce comm1ttee, ~ desire to presei;i.1! them f!Jr the full m Government had never paid anything for this property. formation ?f. the House m. s~ch form as ~11. be readily un~erstood. Mr. TAYLOR of Alabama. Yes and so reported to the com- . In explammg the provisions of the or1gmal House bill at the mittee. ' tn;ne the debate ~hereon w~s ~egun, on D~cember 11, 1899, I sub- There beinC7 no objection tbe House proceeded to the considera- m1tted an analysis of the bill m the followmg language: tion of the bill, which was o~dered to be engrossed and read athird SUMMARY. time; and it was accordingly read the third time, and passed. The hill is drawn in eleven sections. Sections 1, 2, 3, and 4 provide for the establishment and maintenance of the gold standard. PERSONAL EXPLANATION, Sections 5 and 6 provide for the coinage of subsidiary coin and worn and uncurrent coins, and the repeal of the statute limiting the issue of subsidiary Mr. GROW. I -ask unanimous consent to correct a newspaper coin and fractional currency to $50,000,000. statement. Section 7 provides for the issue of United States notes and Treasury notes in such denominations, not less than $1, as the Secretary of the Treasury may The SPEAKER. The gentleman from Pennsylvania asks per prescribe, and also for the issue of silver certificates in denominations only of miRsion to make a brief personal statement. Is there objection? ~~~- . The Chair hears none. Sections 8 and 9 provide for the issue of national-bank note circulation to the par value of the bonds deposited for their secu1·ity. l\Ir. GROW. J\fr. Speaker, some of the newspapers have stated Section 10 provides for the repeal of the tax upon national-bank note circu that I said in an interview that the Puerto Rican tariff bill was lntion and the substitution of a tax of one-fifth of 1 per cent upon the fran chises of national banks as measured by their capital, surplus, and undivided an outrage and a robbery on the people of Puerto Rico. I voted profits. for that tariff bill as it passed the House, and the only objection Section 11 authorizes the organization of national banks with a capital stock I had to it was that it imposed duties at 15 per cent of the present of $25,000 in towns having a population of 2,000 inhabitants or less. rates instead of 25 or more. ' I am pleased to inform the Honse that all of the principles enu l\1r: RIC~RDSON. We would like to hear what the gentle- merated in the foregoing summary have been fully preserved in man is saying. the bill ~s agrned upon by the cqnferees, with the single exception Mr. GROW. I am only correcting a newspaper statement. of section 10, which provides for the rnpeal of the tax upon na Mr. RICHAB.DSON. But we want to hear you. tional bank note circulation and the substitution of a tax of one Mr. GROW. All right. I will speak a little louder. fift,h of 1 per cent upon the franchises of national banks, as meas ,Mr. RICHARDSON. We are always delighted to bear ibe gen ured by their capital, surplus, and undivided profits. tleman. In order to permit direct·comparison between the summa1·y Mr. GROW. Thank you. made of the original House bill and the provisions contained in 2822 CONGRESSIONAL RECORD-HOUSE. MARCH 13,
the bill as finally agreed upon by the conference committee-, I sub Mr. SHAFROTH. Well, now, will the gentleman state whether 'lD.it the following analysis of the bill as so agreed upon. folloWing this bill gives the same power to exchange silver for gold and gold the language of the summary in the original bill so tar as the same for silver? is applicable: Mr. OVERSTREET. I am pleased to say that the House con SUMMARY. ferees were able to maxe that not a discretionary power, ·but a The bill is drawn in fourteen sections. Sections 1, 2, 3, and 4 provide for the establishment and maintenance of mandatory duty upon the Secretary of tne Treasury to maintain the gold st.andard. the parity of these two metals in any way necessary to maintain Section 5 provides for the cancellation of Treasury notes and the issue of that parity. · · silver certific-ates in their stead against silver dollars as coined. Mr. Speaker, I am glad that that inquiry was made, for .the Section 6 authorizes the issue of gold certificates and repeals the statute relative to the issue of currency cert ificates. reason that it enables me to demonstrate the necessity of the Section 7 provides for the issue of United States notes in denominations of change in the first section of the bill. The original House bill $10 and upward, as the Secretary of the Treasury may prescribe, and also for gave a mere definition of the standard, while in the new bill we the issue of silver certificates in denominations of 10 and under. except dis· cretion is given the Secretary of the Treasury to issue not exceeding in the t"oupled with the definition of the standard the mandatory duty aggregate 10 P.er cent of the total volume of silver certifica.tes in denomina on the Secretary of the Treasury to maintain the.iparity of all tions of S20, $50, a nd $100. forms of money with the standard. He is enabled under a subse Sections 8 and 9 provide for the coinage of subsidiary coins and worn and uncurrent coins, and limits the issue of subsidiary coin and fractional cur quent section of the bill to utilize the greenbacks when once they rency to $100,000,000. have been redeemed for the purpose of maintaining the paJ:ity. Section 10 authorizes the organization of national banks with a capital Under the House bill, as under this bill, the greenbacks and stock of ~.000 in towns having a population of 3,000 inhabitants or less. Section 11 authorizes the refunding of the outstanding bonds of the United Treasury notes are redeemed in gold, while the same provision States payable in 1904,, 1907, and 1908 into 2 per cent gold· bearing bonds pay that now obtains relative to the reissue of greenbacka is author able after thirty years. iz€d in this bill. But under the stipulations of this bill, when the Section 12 provides that any national bankin~ association depositing the 2 per cent bonds provided for by this act as security for their circulating notes greenbacks have once been redeemed, they can not be again reis shall be entitled to increase their circulating notes to the par value of bonds sued except in exchange for gold or, as the language of the bill so deposited, not exceeding, however, the amount of their capital stock actu recites, " for any othE>r lawful purpose the public interest may ally paid in. 8t' Ction 13 provides that every national banking association using the said require," except the greenbacks when once redeemed can not be 2 per cent bonds as security for their circulating notes shall pay a tax of used for the payment of current expenses. one-fourth of 1 per cent each half year in lieu of the existing tax of one-half Mr. SNODGRASS. Does the gentleman understand that this of l per cent each half year upon the average amount of such of its notes in provision providing for the refunding of the public debt is to circulation as are based upon said bonds. Section U provides that this act is not intended "to preclude the accom escape the consequence of making debts, public and pri vata, imme plishment of international bimetallism whenever conditions shall make it diately convertible into gold in consequence of the House bill? expedient and practicable to secure the same by concurrent action of the M.r. OVERSTREET. The second section of the House bill con ]ea.ding commercial nations of the world and at a ratio which shall insure permanence of relative value between gold and silver." tained a provision that all public and private debts should be paid in conformity with the gold standard. That provision jg omitted l\Ir. Speaker, these two summaries demonstrate that every prin from the present bill, and it is omitted for two reasons. It was ciple which was contained in the original House bill has been pre not an essential feature, as I had stated in opening the debate on served except the single provision relative to the taxation upon the House bill. · national-bank franchises. There is a difference, of course, in the First, because there is a question of law whether or not such a numbers of the sections, and some immaterial changes have been provision woulcl not be retroactive, and therefore not sound law; made. which do not go to the root of the measure as it originally the second reason is that, having fixed the gold standard, the Gov passed the House. ernment having so recognized it, and provided for the conversion On that same occasion I used this language: of all outstanding bonds into gold-bearing bonds under that To firmly fix gold as the standard of value in unequivocal terms, made fully operative by all proper safeguards, and dispel all lin~ering doubt from standard, there would be no necessity for a specific law relative the mind of the public relative to its monetary standard, lS the object of the to the payment of p1ivate obligations under the standard. for t he legislation proposed. reason ijlat private obligations iuvaliably reflect Government I am pleased to· say to the members of this side of the Chamber obligations, and if the gold standard is fixed so far as tne Govern at least that that object therein recited has not been lost sight of, ment i,s concemed, private obligations hereafter entered into would and is to-day the essential and paramount object of the bill re naturally follow the standard of the Government. ported by the conference committee. Mr. SNODGRASS. I want to ask the gentleman anothe-r ques On that occasion I said, "The first and most important feature tion. of the proposed bill, as contained in the first four sections, is the Mr. OVERSTREET. I object. I would not like to answer at establishment of the gold standard in law." That statement is this time any question on the .refunding of the debt. equally applicable to the bill under consideration at the present Mr. SNODG RA.SS. My only object is to ba informed about this hour. matter, and I would like the gentleman's opinion. It is true, Mr. SpE>aker, that the conferees, in an effort to amal l\lr. OVERSTREET. Make your que tion-short. . gamate the best parts in both the measures as passed by their Mr. SNODGRAS~. Does the gentleman understand the purpose respective Houses, have, by change of arrangement in the bill, of this bill is to make all debts and obligations of the Government brought into closer relation those provisions which we thought payable in gold? should be brought into closer relation, without thought of pride Mr. 0 VERSTREET. The specific recita1 of this bill is that the of authorship and with an eye single to the purpose of fixing standard unit of value shall be the gold dollar. and then we re a well-arrange!i, properly safeguarded gold-standard measure, convert the bonded obligations of the Government into gold which should become the base roe){ for the business of this coun bonds, which makes the Government obligations payable in gold try and dispel from the public mind all fm·ther doubt relative to so far as the bonded debt is concerned. the standard of value. · · Mr. JAMES R. WILLIAMS. Will the gentleman allow me to I report through this committee these differences thus briefly ask him a question? outlined, to show, first, that the conferees on the part of the House, Mr. OVERSTREET. I decline to yield to any further questions. confronted by able gentlemen representing the other side of Con I do not want to be drawn into the question of the refunding of the gress, have been able thus to save those principles which we origi debt at this time. nally advocated in the House bill. It is true there are certain pro Mr. SNODGRASS. I am pursuing the same inquiry. Will you visions in this bill not originally in the House bill, but not one in allow Jne another question? this bill which is out of harmony or out of accord with the propo Mr. OVERSTREET. I can not yield now. sition to establish the gold standard in law. Now. Mr. Speaker, section 2 of the original Houi:e bill, in addi Mr. SHAFROTH. l\1r. Speaker, I should like to ask the gen- tion to the provision for the redemption of the green backs and the tleman a question. Treasury notes in gold, made provision for a reserve fund to guar The SPEAKER. Does the gentleman yield? antee such redemption. and the amount of that gold fund was Mr. OVERSTREET. Yes: I yield. fixed at one-fourth of the outstanding greenbacks and Treasury Mr. SHAFRO'fH. I should like to know this, as a matter of notes. 'l'he conferees have thought best to fix a specific sum in- · information: You claiming that you retain the features of the stead of an uncertain sum, and have m ade the reserve fund ::; 150,- House bill in this conference report, do you think, under the bill 000,000 in pla.ce of fi xing a sliding scale governed by the outstand as it is now reported by the conferees, that the Secretary of the ing- greenbacks and Treasury notes. Treasury has the power to redeem the silver dollars in gold? The purpose of the reserve fund is solely for the redemption of Mr. OVERSTREET. He baa.not the power to redeem silver the greenbacks and Treasury notes, and the method of mamtain dol' ars in gold under this bill, and he 'never had it under the ing the reserve fund under this bill is o. uite simi.ar to the method Honse bill. . provided in the original House bill. We make i t. however, more Mr. SHAFROTH. Well, I differ with the gentleman on that. direct and more specific, leaving no doubt whatever of the pnr l\fr. OVERSTREET. Under the House bill, as I will be able pose of the reserve fund. For it does provide that greenbacks to show clearly, he had the discretionary power to exchange gold once redeemed can not be reissued except in exchange tor gold. for silver in order to maintain the parity. Mr. NEVILLE. Will the gentleman permit a question there? 1900. CONGRESSIONAL RECORD-HOUSE. 2823
Mr. OVERSTREET. I will. Mr. OVERSTREET. Yes, if it is upon this point. Mi". NEVILLE. What contingency do you expect to arise that Mr. GRIGGS. It is exactly on this point. I understood the will cause any person holding the gold to take it to the counter gentleman to say that under this bill you exchange greenbacks and ask for greenbacks in exchange or silver in exchange for it? for gold. Mr. OVERSTREET. TJ:ie gentleman is uninformed as to the Mr. OVERSTREET. Certainly. recent history of the Treasury Department, where a great volume l\Ir. GRIGGS. · He would not have the right to exchange the of gold was presented for greenbacks in order to obtain money silver certificates for gold, but be would have a right to exchange for greater convenience. the silver certificates for greenbacks? Mr. BROSIUS. Over twenty millions last year. Mr. OVERSTREET. Not where the greenback-has been once • Mr. OVERSTREET. Yes; over twenty millions. redeemed. Mr. NEVILLE. That applies to silver. Mr. GRIGGS. I understand, therefore, that this makes the Mr. OVERSTREET. It applies to both. Under this provision, silver ce1·tificate equal to the greenback. ·where we make the provision that the Secretary of the Treasury Mr. OVERSTREET. It ought to be wherever we undertake to may in his discretion use said notes in exchange for gold or to give a parity to all forms of money. purchase or redeem any bonds of the United States, we also per Mr. GRIGGS. And the greenback is equal to gold. mit him to use the greenbacks in order to redeem or liquidate the Mr. OVERSTREET. That is right. puulic debt, and also for any other lawful purpose the public in Mr. GRIGGS. But the silver certificate is not equal to gold; terest may require. This would permit the use of greenbacks for in other words, things equal to the safne thing are not equal to the maintenance of parity between gold and other forms of money, each other. except-this bi 1 provides a specific exception-except that they Mr. OVERSTREET. The silver certificate is not redeemable shall not be used to meet deficiencies in the current revenue. The in gold. There is no difference in the purchasing power or debt further stipulation is put there, in order that the endless chain paying power of any of the forms of money where the parity is may be certainly broken, providing the reissue shall be only in absolutely maintained. exchange for gold, and then that they shall under no conditions .Mr. SNODGRASS rose. be used for tbe payment of the cU:rrent expenses. :Mr. OVERSTREET. I must decline to yield further. In the In the period during the Cleveland Administration, when the original House bill s~ction 2 contained the provision that none of reYenues were far below the expenditures, the reserve fund was the provisions of the bill should affect the legal-tender quality of drawn upon by presentation of greenbacks. and in that way the any of the forms of money now given legal-tender.power. The current expenses w ere defrayed. Under this bill that occasion committee have thought it best to place that provision in a sepa can never again ariEe, because the current expenses would neces rate section; hence section 3 embod10s specifically that provision sarily be met in some other way. that nothing in this act shall affect the legal-tender quality as now Mr. JAMES R. WILLIAMS. Will the gentleman allow me an provided for the different forms of money. interruption? · Section 4 of this bill corresponds to section 3 of the House bill, Mr. OVERSTREET. Certainly. which segregates the various tru&t funds in the Treasury, which Mr. JAMES R. WILLIAMS. Do I understand that the Sec are held there for the redemption of outstanding certificates, and retary of the Treasury will have the right under this bill to use specifies that those trust funds shall be held sacred for that pur the re erve fund to exchange for silver dollars when presented? pose and used in no other way. Mr. O VERSTREET. He will not. Section 5 is a new section. It is in the exact terms of the Senate Mr. JAMES R. WILLIAMS. He has the right to redeem green bill, and provides that Treasury notes, when received at the Treas backR or Treasury notes? m·y, shall be cance:ed. We make the Treasury note equal to a Mr. OVERSTREET. The so1e purpose of the reserve fund is gold dollar, and then we cancel it and issue in its stead silver dol for the redemption of greenbacks and Treasury notes. Under the lars. or certificates based upon that dollar, as rapidly as the silver fifth section of the bill the Treasury notes are canceled when bullion, whkh was purchased under the Sherman law that gave received into the Treasury, so that in time it will result that the creation to the Treasury notes. is coined. In that way one for;m redemption fund will be used solely for the redemption of green- of money will eventually be obliterated, and the Treasury notes, backs. . having fil'st been made equal to gold certificates, will be retired. Mr. JAMES R. WILLIAMS. Are the greenbacks cance1ed? Mr. SNODGRASS. Does the gentleman know the amount of Mr. OVERSTREET. No; they are reissued, but they can not the seigniorage now in the Treasury? be used for current expenses. Mr. OVER~TREET. Treasury notes'! Mr. JAMES R. WILLIAMS. But they can be used for any .Mr. SNODGRASS. Can _thegentleman state the amount of the other purposeE>? • silver seigniorage now in the Treasury in consequence of the pur Mr. OVERSTREET. They can be 'Used to exchange for gold. chase of silver bullion under the .act to which be has just referred? In the event that the parity was questioned a silver dollar could Mr. OVERSTREET. The amount of the Treasury notes now not be presented for redemption, as my friend from Colorado says, outstanding is abont $88,000,000, I think. I have not the figures but a silver certificate could be exchanged for a greenback before at hand. · redemption. and that could be used to draw upon the re.serve fund. Section 6 is a new section and is a mQdi:fication of a section con So that with the limitation provided in the bill, if the question tained in the Senate bill. It authorizes the issue of gold certifi of pa1ity between gold and siiver should be raised, the silver cer cates. At present these are issued under a clouded provision of tificates could be presented there in exchange for greenbacks so law which specifies that they may not be reissued when the gold long as the greenback had not been once redeemed, and that green in the reserve fund fails below $100,0CO.OOO. It is thought best to back could be presented for gold, which would make the gold make a specific statute of this provision; and hence authority is reserve an indirect support to the parity. given providing that these certificates may be issued in denomina Mr. JAMES R. WILLIAMS. Now, one other question right tions not less than 820, but shall not be issued when the gold re there. serve falls below $l00,000,000. Mr. OVERSTREET. Yes; if it is a question in that line. The statute authorizing the issue of the cmTency certificates is Mr. JAMES R. WILLIAMS. It is. If I did not misunder repra!ed. The function now performed by the currency certifi stand the gentleman, he said that this bill agreed upon now re cate in settlement of large balances will be performed by the go1d quired the S t> cretary of the Treasury-that is, commanded him- certificate in the future, permission being given by this section to to exchange gold for silver coin when presented. . issue, at the discretion of the Secretary of the Treasury, gold cer Mr. OVERti'l REET. Oh, the gentleman misunderstood me. I tificates in denominations of $10,000, that being the denomination said nothing of the kind. of the present currency certificate. Mr. JAMES R. WILLIA.MS. Is it discretionarv with him? Section 7 is a mod1fica.tion of both the House and Senate bill Mr. OVERSTREET. It is not. I said that we make it the relative to the denominations of the silver certificates and green mandatory duty of the Secretary of the Treasury to maintain such backs. Under this provision greenbacks will hereafter be r eissued parity. only in denominations o.f $10 and upward, and silver cer tHicates Mr. JAMES R. WILLIAMS. How? in denominations of $10 and under, the transfer between the two . Mr. OVERSTREET. I will say to my friend from Illinois that forms being made as nearly simultaneous as possible, so as not to a wise Secretary of the Treasury, if it became necessary, would affect the general volume of any form of such certificates out- exchange gold for silver if that was the only alternative. standing. _ Mr. JAMES R. WILLIAMS. Then ought you not to give him In other words, as rapidly as silver certificates of the denomina some way to raise the gold to make the exchange? tion of 810 and upward are canceled and certificates of $10 and Mr. OVERSTREET. He has the power to raise the gold by under reissued, a corresponding volume of greenbacks of denom issuing bonds. inations under $10 shall be reissued in denominations of $10 and l\Ir. JAMES R. WILLIAMS. He could not use the reserve fund? upward. This carries out the principle of the original House blll, Mr. OVERSTREET. No; the reserve fund is sacred. giving the field of small trade and everyday business to the silver Mr. GRIGGS. Will the gentleman from Indiana permit me a coin and certifi cates. • question? Sections 8 and 9 correspond to sections 5 and 6 of the original , .
2824 CONGRESSIONAL REOORD-HOUSE. MAROH 13,
House bill, providing for the coinage of sub&idiary coin out of the Mr. OVERSTREET. The reason why the 4 percents of 1925 bnllion purchased under the law of 1890 and the recoinage of worn are not made refundable is that the premium, now ranging nearly and uncurrent coins. But instead of repealing the statute lii:µit- $1.38, is too high for the Government to make a draft upon the ing such issue to $50,000,000, as the House bill provided, we herein sinking fund for the purpose of anticipating that interest, and limit that issue to $100,000,000, and make the other provisions in therefore these extended fours of 1925 are not given the privilege these two sections exactly the same as the corresponding sections of being refunded. • numbered 5 and 6 in the House bill. Mr. JAMES R. WILLIAMS. Before the gentleman passes Section 10 conesponds exactly to section 11 of the House bill, from this section I should like to ask him a question. except that national banks of $25,000 capital are authoriz:ed jn The SPEAKER. Does the gentleman yield? towns having a population of 3,000 or less instead of 2,000 or less, Mr. OVERSTREET. Just a moment. as was provided in the House bill. In other words, the House Mr. JAMES R. WILLIAMS. There is a provision in this bill, fixed the limitation of inhabitants at 2,000, the Senate bill fixed it as I understand, in favor of international bimetallism. at 4,000, and the comvromise is 8,000. Mr. OVERSTREET. I will reach that. Sections 11, 12, and 13 make provision for the refunding of the Mr. JAMES R. WILLIAMS. I want to refer to the question bonds of 1904, 1907, and 1908 into 2 per cent gold-bearing bonds the gentleman is now discussing. Of course we have no right to payable after thirty years, and providing further for the increase doubt the sincerity of that statement. · of bank-note circulation to the par value of the bonds held by the Mr. . OVERSTREET. I will say to the gentleman that that banks, provided such bondS' shall be 2 per cent bonds authorized question is not pertinent to thls point. I will reacb that in due by this act, and it reduces the tax upon such circulation from 1 time. per cent annually to one-half of l _per cent annually. Mr. JAMES R. WILLIAMS. It is on this question of refund· Mr. CALDWELL. May I ask the gentleman a question? ing. Now, what I want to say is this-- Mr. OVERSTREET. Yes, sir. Mr. OVERSTREET. Say it quick. Mr. CALDW~LL. Will the gentleman give us the reason for Mr. JAMES R. WILLIAMS. We have until half past 4o'clock. increasing the circulation of the national banks from 90 per cent The SPEAKER. The Chair understands the gentleman to da. of the amount of their bonds to 100 per cent, as provided in this cline to yield further. report? Mr. OVERSTREET. I yield to the gentleman for a question, Mr. OVERSTREET. Why, Mr. Speaker, this provision has Mr. JAMES R. WILLIA.MS. And I will frame the question. been contained in a number of bills presented by members of both If these bonds are refunded and made payable in gold, and the political parties and advocated by them; has been recommended Republican party should continue in power and should in a few by many Comptrollers of the Currency, Secretaries of the Treas- years secure international bimetallism, then these bonds could not ury, and Presidents of the United States. The bill that passed be paid in silver coined under that kind of bimetallism. the House contained that same provision, and it is incorporated Mr. OVERSTREET. Unquestionably not. in this bill under thelimitationsof the provisions of the refunding I Mr.JAMESR. WILLIAMS. Doestherefundingofthesebonds, proposition. , . • . according to the provisions of this bill, encourage bimetallism in Mr. WILSON of South Carolma. Mr. Speaker-- the United States? The SPEAKER. Does the gentleman from Indiana yield to the Mr. OVERS'fREET. There is absolutely nothing in this bill gentieman from South Carolina? that gives the slightest hope for international bimetalTu!m under Mr. OVERSTREET. I yield, if it is just for a question. present conditions. f Applause on the Republican side.] Mr. WILSON of South Carolina. As the bill left the House the Mr. JAMES R. W1LLIAMS. Very well. taxation was on the assets, on the franchises. Mr. OVERSTREET. We hold out no encouragement for that, Mr. OVERSTREET. That, I have stated, has been omitted. and I will say frankly to the gentleman that the provisions of this Mr. WILSON of South Carolina. Will the gentleman explain bill make it practically and absolutely impossible for thlli Govern- to the House why that omission has occurred? ment ever to have international bimetallism or the free coinage of Mr. OVERSTREET. That has been omitted for the reason that silver at the ratio of 16to1. [Applause on the Republican side.] it c'ould not properly or wisely be made a part of the provisions Mr. WILLIAMS of Mississippi. Who is that clause intended governing the refunding plan, and the plan which I was just about to fool? to outline will explain that in full, and I will take it up at this Mr. NOONAN. I should like to ask the gentleman one question point. on this point. Under this provision all of the outstanding bonds payable in Mr. OVERSTREET. Now, Mr. Speaker, I can not yield any 1904, 1907, and 1908, drawing respectively 5, 4, and 3 per cent further. I am infringing on the time of others who are entitled interest, are refunded into gold-beaiing 2 per cent bonds payable to be heard. after thirty years. It has been the universal policy of this Gov- Mr. SHAFROTH. Why was that clause placed in the confer- ernment to refund its national debt into lower interest-bearing ence z:eport? bonds whenever the conditions would permit it. The SPEAKER. The gentleman declines to yield. In 1870 the Government authorized theissueof $1,500,000,000 in Mr. OVERSTREET. Under that provision, Mr. Speaker, it is bonds, $·500,000,000 of which drew 5 per cent interest, payable possible to have the refunding of those $)839,000,000 of outstanding $200,000,000 after ten years and $300,000,000 after fifteen years, and bonds into 2 per cent bonds on .the 1st day of April, 1900, at an 51,000,000,000, in 4 per cent bonds, payable' after thirty years. expense to the Government of 884,547.591. The provision limits The proposition here to refund the national debt is in complete the exchange of these three classes of bonds to the basis of 2! per harmony with the policy which this Government has ever followed, cent interest. Therefore at whatever premium the5e three classes and is made possible by establishing a standard cf value which of bonds may be quoted it is impossible for the excha,nge to be shall be unequivocal in its terms and about which there can be no made upon a basis in excess of 2i per cent to the investor. question of doubt. I say that if it were not for the provision The amount of interest which the Government would pay up fixing beyond dispute the gold standard in la.wit would not, in my to the maturity of these three classes of bonds would exceed judgment, be possible at this time to refund the public debt on a $226,000,000. At 2 per cent interest. up to the maturity of the 2 per cent basis. · bonds, the Government would pay 119,000,000 and upward, The amounts respectively of the outstanding 3 per cent, 4 per making a saving to the Government of over 5106,000,000. cent, and 5 per cent bonds which may be refunded, together with Deducting from that $106,000,000 in saving of interest the $84,· the dates of issue and maturity of the same, outstanding February 000,000 necessary for the anticipation of interest, or, if you p~ease, 1, 1900, are as follows: for the purchase of the bonds, that would leave a. net saving of Three pe1·cents, mature after August l, 1908 __ ------$198, 791, 44.-0 interest upon these three classes of bonds of $22,019,553, so that as F~ur percents, mature July 1, 1907 ------·------~.345,300 a. question of economy the refunding proposition is wise and sound Five p ercents, mature February 1, 190-l:------·------9a,009,'i'OO in finance. This saving is clearly set forth in the folJowing table: Total ----_--· ------____ ------__ -- ·---_------__ ---- 839, 146, 490 'rhe total expense and saving to the Gove1·nment if all outstanding bonds of 1904-, 1007, and 1008 were refunded into the new twos, on 21 ver cent basis, Amounts ont'3tanding of bonds not subject to refunding: April 1, 1900: Extended 2 percents, option of the United States------··------i-2.'5,364-, 500 Bonds outstanding, Febnr.ary 1, 1900. Four percents of 19'.!5, mature February 1, 19'Z5. ------· ------162, 315,400 Fours of 1907 _ ------·------. ------$545,34i), 350 ---- Fives of 190-1 ______------W. CXJ!'.J, 700 Total.------_-----_-----_-----_------.---·-- ______------187,679, !JOO Threes of 1908------____ ------____ ------108, 791, 440 The total bonded debt of the Government now being $1,02G,- Total.. ___ ·-- ____ - · ~- -- __ ---··--- ______·------_--· 839, 146, 4.90 826,320. The reason why the extended 2 per cent bonds are not refunded Premium paid upon basis of 21 pe1' cent. is that it certainly is not good business policy to trade a thirty Fours of 1907, at 111.6705 ______--··------. ----- 63, 677, 250 year 2 per cent bond for a 2 per cent bond payable on demand. Fives of 1904. at 110. 0727 ------_------· ---·------9, 570, 042 :Mr. NOONAN. And why are not the 4 percents which mature Tbrees of l!JOS, at 105.68-!5------ll,300,299 in 1025 lo be refunded? Total expense.------_------_ ---·------. ------·--- Si, 547,591 1900. CONGRESSIONAL RECORD-HOUSE. 2825
0 · Saving in interest to maturity of bonas. the other side of the aisle, that I felt justified in yieiding to one on this side. Interest to maturity. As I have said, there ic;; no provision in this bill not in accord Bonds. At present with the bill as iti>assed the House: The refunding principle of rat-e. At 2 per cent. Saving. this bill is made possiple by the establishment of the gold stand ard in law. Fours of 1907------····------·--- $158,150,151.50 $79,075,075. 75 $79,075,075. 75 I stated in the opening debate upon the House bill that" when Fives of 1.,11()4 ______18,210,192.50 7,284,077.00 10,926,115.50 the standard shall be permanently established, and all doubt of "Threes of 1908. ---·- ___ . __ ·- __ . ___ 49, 697, 800. 00 33, 131, 900. 67 16, 565, 953. 33 --1------its stability removed, the parity of all our money will be fully Total ______------·------226,058,204.00 119,4-91,059.42 106,567,144.58 recognized, and the kind of money in which .payment shall be made will rarely, if ever, be the subject of dispute: When cer tainty shall take the place of doubt, and the integrity of our credit be as fixed as the honor of the nation, the national debt can be readily refunded at lower interest rates and future loans nego tiated with ease upon better terms than ever before." The plan Total saving ______------··------22,019,553 of refunding the debt is made f02.sible and practicable with the Mr. SNODGRASS. Does the gentleman except- · establishment of the gold standard in law. Mr. OVERSTREET. But, Mr. Speaker, another provision con:. Mr. Speaker, that brings me to the last section of the bill, Which tained in the bill which makes it more nearly possible for speedy is a provision that t-his.act is •'not intended to preclude the accom~ refunding is this: The national banks which exchange bonds for plishment of international bimetalUsm whenever conditions shall the new 2 per cent bonds are permitted to increase their circula make it expedient and practicable to secure the same by concur tion to the par value of the bonds. The national banks have before rent action of the leading commercial nations of the world and at been called upon to aid the Government in the placement of its a ratio which shall iwm·e permanence of relative value between bonds. gold and silver." There was held by the national banks, of these three classes of l\fr. Speaker, this provision contains no legislativA effect not bonds, for the security of national bank note circulation, $203,- now provided ·for by the act of 1897, under which the last effort 493,270, on the 28th day of February last. There is now held by for international bimetallism was made. '!'his provision does not the banks, of these three classes of bonds, for the security of pub interfere with the operation of the act providing either for the lic moneys, $77 ,275,830. In other words, the banks to-day hold in gold standard or the refunding of the public debt. This provision these three classes of bonds $280,769r100. will give no encouragement nor hope for the independent action These bonds may be oxchanged at the Treasury for 2 per cent of this Government in establishing free silver coinage at a ratio of gold-bearing bonds, payable after thil.-ty years upon a basis not 16 to 1. The only terms under which it will be possible will be exceeding 2t per cent in the exchange. The policy of this act under the concurrent action of the leading commercial natio!ls of will be to give the banks which will take the opportunity to the world and at a ratio which shall make permanent the relative make such an exchange the power and privilege to increase their value of the two metals. note circulation to the par value of the bonds deposited, not ex I say, Mr. Speaker, this provision in effect merely says that the ceeding, however, the total amo-qnt of the capital stock paid in. act of 1897 ha8 not been repealed; it says not only that this act In addition to that, a second privilege is given the bank, namely, does not foreclose a fn ture effort, but, sir, it goes even further. It the tax upon outstanding circulating notes will be reduced to one says in terms that while it does not foreclose nor repeal the· pro half of the present tax, the same now being 1 per cent annually. visions of the act of 1897, the accomplishment of s11ch an inter Mr. WILSON of South Carolina. Why have the conferees re national agreement can be had only when conditions shall make ceded from the provision as it passed the House? it expedient and practicable, and then only when it can be con Mr. OVERSTREET. In order to make it easier and, in our cmTed in by the leading commercial nations of the world. And judgment, feasible and expedient to refund these $839,000,000 of if. conditions should change, and the leading commercial nations bonds into 2 per cent bonds, we must make a field for such bonds. of the world should concur, it can then be made possible only by We make a field through the national banks·, an avenue which is making that ratio in conformity with the relative values of the not a stranger to this method of finance. National banks will two metals. hasten to make exchange of those high interest rate bonds, per It has been thought advisable to insert this, in. order that it mitting the Government to be relieved from them at once, effect would put at rest any fm·ther controversy as to the methods and ing a saving of over $22,000,000 to the Government. plans which might be pursued for such an agreement. I repeat, Now, that proposition would not admit of a tax upon the bank it gives neither hope nor encouragement to the free coinage of -sil franchise, because a tax upon the bank franchise. would not be an ver at the ratio of 16 to 1, because that ratio is out-of proportion inducement for the refunding of the present outstanding bonds to the relative values of the two metals. It puts the last nail in bearing 3, 4, and 5 per cent interest. the coffin of that party which seeks an independent action on the Mr. BOUTELL of Illinois. Has the gentleman considered part of the American Government. It says in explicit terms that whether the receipts of the Government from the tax on thE;i na conditions which exist in this country, as well as in others, shall be tional banks under this bill would be in excess of the present considered to disclose whether it is expedient and practical even receipts from that source? to make such an effort. Mr. OVERSTREET. In the judgment of the committee the Mr. SHAFROTH. Will the gentleman allow me a. question? receipts from the tax upon bank-note circulation would be sub· -Mr. OVERSTREET. . I will permit a question from the gentle stantially the same under this provision a-s under the old, because man from Colorado, because I told him a while ago that when I while the rate is decreased. the volume of national bank note cir reached this point I would yield. culation will be increased. The banks upon the bonds now held Jl,lr. SHAFROTH. I wish to know whether the gentleman re-' by them will be permitted to enlarge their circulation about gards the conditions as they are now, or as they are likely soon to $26,000,000 without depositing any other bonds. occur, when international bimetallism can become practicable? The provision for the establishment of small banks of $25,000 Mr. OVERSTREET. I do not. capital stock will unquestionably encourage the establishment of Mr. SHAFROTH. That is all; I am much obliged. a very large number of banks of that character, which will in all Mr. OVERSTREET. I say that persons who have had experi pr6bability issue note circulation to the fnll par value of their ence in legislation know that they can not alwavs obtain what bonds. That will increase the bank-note circulation and tiring a theydesire. Ihavenopatiencewith thispropusition~ but I yielded, large volume of tax from that source. as is necessary and wise in many caseil, in order to reach an ami Mr. 5NODGRASS. Will the gentleman permit me to ask him cable settlement of differences in legislation. It is sometimes best a question right there? that one should surrender his personal -preferenc;e for the public Mr. OVERSTREET. I said in my original remarks upon the good. House bill that under the standard-- While this provision has no legislative effect, and while it does, The SPEAKER. The gentleman will suspend for a moment. in my judgment, give no encouragement to those who seek that When a gentleman desil.-es to ask a question of a gentleman hav very thing, and especially no hope for an independent action on ing the floor, he must first address the Chair. If the speaker says the part of this Government, I would rather take the measure he declines to yield further, there is no use pressing a question. even with that blemish upon it than to have no gold-standard When he does not take that position, the Chair will gladly submit legislation at all. [ApplaUBe on the Republican side.] a request of any member if the gentleman desires. The gentle Mr. Speaker, it has been our aim to establish firmly the princi man from Indiana says he does not desire to be interrupted, yet ple of the gold standard, made fully operative, and it is the belief himself has yielded to the gentleman from Illinois. So that the of the conferees that this measure does it. In my judgment, this remarks of the Chair apply equally to the gentleman addressing legislation is of greater importance and more far-reaching in its the House as to a gentleman desiring to ask a question. benefits than even we ourselves are prepared to appreciate. Mr. OVERSTREET. I have yiel
beneficent principles give little occasion for noise, they move for they were opposed to national-bank circulation, and so they issued ward by progressive steps; and this, in my judgment, is one of those. General Order No. 2, calling upon each of their friends to see their pieces of legislation w h: ch will occasion Ii ttle alarm in the country members of Congress at once and engage him to support their and little dispute among the people. Underlying the principles interest that they might control legislation. That order was as governing the management of the business of the people of this follows: nation will rest this t ed rnck, solid in its terms, unequivocal in Withhold patronage or favors from all apulicants who are not willing to its provisions. and certain in its operation. [Applause on the Re- oppose the greenback Government issne of money. Let the Government is sue the coin and the banks issue the paper money .of the country, for then we publican side.] _ can better protect each other. To repeal the law creating national banks or Mr. McRAE. Mr. Spe::i.ker, I want to ask unanimous consent to restore to circulation the Government issue of money will be to provide to change the leave that was given me on the 18th of last Decem the people with money, and will therefore seriously affect your individual profit as banker and lender. See your m~mber of Congress at once and en ber. I was then given authority to print remarks on Hom;e bill gage him to support our interest, that we may control legislation. No. 1, with an appendix showing an analysis of coinage currency After several failures to secure the concurrence of the Senate in then. I will now deli\·er the speech, and I desire to print the ap a bill for the free coinage of silver the Democratic House, as a pendix of it as of this date. compromise, agreed to the act of February 28, 1878, known as the The SPEAKER pro tempore (Mr. CANNON). The gentleman Bland-Allison Act, which required the Secretary of the Treasury asks leave to extend his remarks in the RECORD. Is there objec to purchase and coin not less than two nor more than four millions tion? [After a pause. l The Chair hears none. of silver dollars each month, and on March 31, 1878, secured the Mr. McRAE. Mr. Speaker, this is the old fight of the national passage of the act to prohibit the further retiring of greenbacks. bank circulation against legal tender Government paper money Since that time the amountof that kind of currencyhas remained which began near1y forty years ago. The greenbacks were issued at $346,681,016. under the acts approved February 25, 1862, July 11, 1862, and 'l'he Bland-Allison Act modified the demonetization act of Feb March 3, 1863. As soon as it became evident to the bankers that ruary 12, 1873, by restoring the legal-tender quality of the standard the Government intended to issue its own paper money, they sElt silver dollar, but this modification has been measurably nullified to work to check it a_nd to have such money funded and the bonds by Treasury discretion, and yet almost every section of this bill issued therefor used as a basis for national-bank notes. overflows with it. Beginning with Secretary Foster, every Sec Before SlOO .OU0,000 of them had been issued a ·bill was intro retary of the Treasury since has surrendered the right of the Gov duced in Congress to create national banks, which had the in ernm'ent to make redemption of the pubhc obligations in silver dorsement of the then Secretary of the Treasury and President. and allowed the holders thereof the right to demand payment in That legislation came as the result of the demand made by the gold. English and American bankers, as is shown by the following gen On July 14, 1890, the Sherman Act was passed, providing for eral order No. 1, issued by them in 1862. It said: thG purcha8e of 4,500,000 ounces of silver each month, to be paid The great debt that ca-pita! will see to is made out of this war must be used as the means to control the volume of money. 'To accomplish this the.money for in Treasury notes. The pm·chasfog clause of the Sherman must be bonded and the bonds must be used as the banking basis. Act was repealed November 1, 1893. We are now waiting to get the Secretary of the Treasury to make the rec· Continuing the fight, the panic of 1893 was produc{'d by the ommendation to Congress. It will not do to allow the greenbacka to circu late as money for any length of time, for we can n_ot control them; but we Eastern banks to further discredi:Jilver and greenbacks. The can co:-itrol the bonda, and through them the bank isRues. national banks encouraged the hoaiuing of money, refused loans without regard to the security,.and in many cases even declined Knowing that they could not control the greenbacks for any to pay the checks of their depositors. The following is a copy of length of time. they at once set to work to get national banks of General Order No. 3, issued by them in 1893: isime. The fight between national-bank currency and greenbacks The interests of national bankers require immediate financial legislation went on until the banks supposed then, as they do now, that they by Congress. Silver, silver certificates, and Treasury notes must be retired were masters of the situation, and in December, 1865, boldly de and the national-bank notes, upon a gold basis, made the only money. This mande:i the retirement of all legal-tender paper money. The wil I require the authorization of from $500,000,000 to $1.0UO,OUO,OL'() of new bonds a s a ba..,is of cil·culation. You will at once retire one-third of your circulation Republican Cong-ress passed the following resolution, which de and call in one-half of your loans. Be careful to make a money stringency clared the .R€pnblican policy: felt among your patrons, especiallX among influential business men. Resolved, That thjs House cordially concurs in the views of the Secretary Advocate an extra s~ssion of Congres~ for the repeal of the purchase of the Treasury in relation to the necessity of a contraction of the currency, clause of the 8herman law, and act with the other banks of your city in with a view to as early a resumption of specie payments as the business in securing a p~tition to Congress for its unconditional repeal, per accompany ing form. Use personal influence with Congressmen. and particularly let terests of the country will permit; and we hereby pledge cooperative action your wishes be known to your Senators. The future life of national banks to this end as speedily as possible. as fixed and safe investments depends upon immediate action, as there is an The ruinous work of contraction immediately began and was increasing sentiment in favor of Government legal-tender and silver coinage. prosecuted "as speedily as possible," with the view of retiring the These orders were strictly carried out and the purchase clau a greenbacks. of the Sherman law, the only remaining link that held silver to The national-bank act wa.s passed February 25, 1863, was our coinage laws, was repealed. Enough Congressmen and Sen amended June 3, 1864, and the charters were extended July 12, ators betrayed the Democracy at that time to make this wrong 1882. possible. In 1866 there were $1,863,409,216 of United States notes and bonds, The National Bankers' Association has become the closest and of which $1,281:),967.442 were interest-bearing ouligations. most compact organization known anywhere. It is day by day Th9 funding act of April 12, 1866, authorized the Secretary of the becoming more defiant and a~gressive. One of the leading mem Treasury to call in these interest-bearing notes and fund them into bers of it, and president of the New York Bankers' Association, 5-20 6 per cent honds. and to call in and destroy $4,000,000 of green said, a few years ago: b disgrace any party. The man wno nas tne courage to stand up to be the best way to serve their business interests. There can be for the rights of his constituents may safely calculate on the secret no stronger illustrati9n of the ruinous tendency of such--a policy and substantial if not' the open opposition of the national banks. than this bill, which could not be passed without the votes of those If the district he represents is safely Democratic, some popular, in this body who are personally interested in national banks. ambitious man who is in some way under the influence of some When it began we had no national banks. Now there are 3;595 national banker is put up, and by all the methods, both foul and of them, with outstanding loans on the 1st of fast September fair, known to this organization is aided, and it may be without amounting to 52,496,751,257, and of the $168,000,000 of the funds any pledge from the candidate; but at the proper time he is made of the Treasury they have on deposit, free of interest, 111,000,000. to understand who furnished the sinews of war to nominate him, Yet they aemand, as a reward for favors to the Republican party and having accepted favors, can not refuse their demands without jn 1896, the passage of this gold-standard, bank, bond bilJ. By all being called an ingrate. I speak of the national bankers generally this special legislation in the interest of the favored few a condi and do not intend, of course, to include them all in what I have tion has been pl'Oduced in this country not unlike that created by said and will say about them. Many of them are in favor of both the Tory legislation in England· under the 8tuarts, which was silver and greenbacks, and are good Chicago platform Democrats; appropi:iately described by Sir J osAph Colepepper in a speech he but they are the exception to the general rule. made in Parliament. Those who have supported this bill countetl on the new issues ltis- growing out of the Spanish war to absorb the attention of the H13 said- people. at least until after the bill has been put in operation. a nest of wasps, a swarm of vermin.-which have overcrept the land. I mean Here is what the Bankers' Magazine said in September, 1898: the monopolies and pollers of the people. These. like the fro~s of Egypt, The excitement of the war has drawn the minds of politicians to issues have got ten possession of our dwellmgs, and we have sc.arce a. room free from more full of interest than the financial question. With a period before the them. They sup in our cup; they dip in our dish; they sit by our fire. We meeting of the nex:t Congress for reflection, it fa not beyond hope that when find them in the dye vat, washbowl, and powdering tub. '!'hey have marked the bankin~ bill comes before Congress it will go through without being and sealed us from head to foot. We may not buy our clothes w ithout their made a political i"8ue. . brokerage; they are the leeches that have sucked the commonwealth until it hns become almost hectical. Some of them are ashamed o! their names. In this prediction and hope they have bean greatly disappointed. They shelter themselves under tlie name of a corporation. They make by· Instead of getting it through without being made a political iss~e, laws which serve them to squeeze us and fill their purses. they have found it stubbornly resisted at every step. Mr. Bryan rApplause.] . . on the stump and Democrats in and out of Congress have exposed By it the gold dollar is made the standard unit of value, and aU the s t:heme. So the bank association had to resort to vigorous money issued or coined must be maintained at a parity with gold, work, and accordingly, in November, 1899, the following General and the Secretary is given unlimited power to issue bonds to . Order No. 4, was issued preparatory to the final attack: do this, and yet there is no provision in this bill nor in any The present session of Congress is a critical point with our movement. The Honse will deal with· the gold-standard bill almost immediately. The existing law for the coinage of this standard unit of value. All tremendous importance of the successful outcome of this effort on the part obligations of the Government. including greenbacks and Sher of the caucus committet:l of the Republicans ol the Honse can hardly be told. man notes, making an aggregate of $1 ,500,000,000, every dollar of 'rhe great opportunity will be offered. which is now payable in coin, are made payable in gold. All The Republican party is pledged to legislation for the gold standard and the parity of all our moneys. The caucus bill covers it well. other public and private~bligations, amounting to$35,000,000,000, If the business men now take up the subject with their Representatives in the most of which is payable in lawful money, while not ex Congress and u nceasingly demand the fulfillment of their party's pledge, pressly changed to gold contracts, must be performed in conformity the bill will pase the House. If the House a cts courageously, the Senate will be greatly influenced to the gold standard. for the reason that, as stated by the gentle thereby. The sound-money members of the Senate Finance Committee will man from Indiana [Mr. OVERSTREET], private obligations inva present a plan to the Republican Senators and it will be as comprehensive as riably reflect Government obligations, and the gold standard is the House bill. If you p1 · es~ the subject unrelentingly from now on. tbe first great step in fixed so far as the Government is concerned. That is correct at the right direction in sound-money legislation will be taken early in theses least so far as future contracts are concerned. All of our money sion. Please give us your vigorous support. except silver will be redeemable in gold under this bill. And that This order, read in the light of what has been done since then, is practically so, for if the question of parity is made against sil is remarkable for the absolute certainty with which it spoke of ver the holder can get a silver certificate for the coin, which cer the Republican pledges and as tow hen the bill would be taken up; tificate is exchangeable for unredeemed greenbacks, and they are but, sir. if we are to believe it, this bill is only the first great step redeemable in gold. in what they <.1re pleased to call the right direction in sound-money Whythischange in our public'Obligations? The political·pe.rty legislation. The Lord only knows what the next step will be! now in power never promised it in their platform. The record of This is a brief history of the financial legislation of the last forty the candidate for President in 189& was against such a change. years. All of these laws except three were enacted when the Re To the debtors it means more labor to pay their debts, and neces publican party bad control of every department of the Government. sarily harder times. It benefits only the creditor class-those who TheBland-Allisonlawwas acompromiseforafree-coinage bill, and own United States bonds, gold mines, or have fixed incomes; and I was forced upon the country by a Republican Senate. The act think I have shown that it was proposed by and is now pressed for to prevent the retiring of greenbacks originated in a Democratic their benefit. It can not fail to injuriously affect the GovEVnment House. The bill for the repeal of the purchase clause of the Sher that must pay the bonds that have J:>een issued and that will be man law originated in a Democratic Congress, but it met the issued under this law. - approval of a very large majority of the Republicans in both the The gold reserve is now $l00,000,000. Th1s -bill increases it to House and Senate, and was passed over the votes and protests of $150,000,000. Why this large increase in the reserve by the im a majority of the Democrats in both Houses. pounding of gold, when the present sum is sufficient if not too The track of this and other contemporaneous Republican legisla large? The bill requires the redemption of green backs and Sher· tion since 18t:O is marked by about 250.000 business failures, repre-. man notes in gold and prohibits their reissue except in the discre senting liabilities e11ual to one-tenth of the assessed value of all the tion of the Secretary, and then only in exchange for gold, for the property in the United States. When it began the farmers owned purchase of bonds, or for any lawful purpose, but prohibits the over one-half of the wealth of all the country. Now they own less use of them to meet deficiencies which now ~xist or that may here than 20 per cent. When it began we had but few, if any, million after exist. These notes of course will not be exchanged for gold, aires and the wealth of the country was fairly distributed among because the owner of gold by refusing to make the exchange can the people . Now 26,000 persons own one-half of the wealth and get a gold bond. To make this redemption and maintain this three-tenths of the people own 70 per cent of it. When it com re,,erve. 3 per cent nontaxable long-time gold bonds maybe issued menced there were no trusts. under this bill when it passes, without limit as to the amount. Now, there are hundreds of them, with a capitalization of This will enable the rich who seek ilfvestments for their money S40,000,000,000, chief among which is the Standard Oil trust. wlrere there is no risk to get such bonds whenever they so desire. Since the organization of these concerns there has been more Of the silver bullion in the Treasury there may be coined a suf fraud in e1ections and bribery in legislation than ever heard of ficient amount of subsidiary silver coin to make an aggregate of before. They ha\ e been extended to almost all kinds of business. $100 ,000,000, but an amount of Treasury notes equal to the costof The individual business man can not compete with them, and so the bullion containeC. in such coin must be canceled and not re the organizers and promoters of them are fast getting control of issued. It also provides that as fast as standard silver dollars are our markets. The result is that almost every article necessary to coined under the Sherman law an equal amount of Treasury notes farmers and laboring men has been greatly increased in price, and shall be retired. This indicates what is the real purpose of the the energy and m anhood of our people are fast being undermined. national banks, to reduce silver from the position of redemption When it began, the sense of propriety among legislators was so ·money to that of credit money and subsidiary coin. hi~h that none of them would think of voting for a proposition in It provides for thE! storage of gold in the Treasury for private which they wne interested, either directly or indirectly. Now account in order to give the national banks complete control over the commercial"i ' 2828 CONGRESSIONAL RECORD- HOUSE. MAROH 13, everybody knows that paper, in large or small denominations, APPENDIX. payable to order can not be used for such a purpose. ANALYSIS OF VOTES ON 00INAGE A.ND CURRENCY LEGISLATI01". Under this provision the banks can easily accumulate and de. By THOMAS c. MaB.A.E, of Arkansas. posit gold not needed for the reserve fund and thus make the only money of final payment dear to those who may need it. They NATIONAL-BANK .ACT OF FEBRUARY 25, 1863. could then flood the country with-their bank credit money when In the Senate, Febr-uanJ 12, 1863. ever they wanted to make times flush and create a panic at any [Journal, third session Thirty-seventh Congress, page 2!0.] On the question, Shall the bill (S. 4.86) pass? it was determined in the time it suited their purpose by withdrawing their notes. Gold affirmative. being the only legal standard of payment and being held on stor YEAS-23. age for these private concerns, the only way the people who might Anthony, Foster, Lane, Kans. Ten Eyck, want it to pay debts and taxes could get it would be to borrow Arnold, Harding, Morrill, Wade, Chandler, Harlan, Nesmith, Wilkinson, it upon such terms as might be dictated by the money trust that Clark, Harris, Pomeroy, Wilmot, will be created under this bill if passeQ., for they can easily con Doolittle, Howard, . Sherman, Wilson, Mass. trol the gold coin certificates. Fessenden, Howe, Sumner, It authorizes the refundi})g of $839, 146,490 of the interest-bearing 2 Democrats, 21 Republicans. debt, now payable in coin, into 2 per cent gold bonds, and agrees NAYS-21. to pay in cash the sum of $84,000,000, being the·difference in the Carlile, Grimes, McDougall, Tm· pie, alleged value of the two kinds of bonds. .. The total bonded debt Collamer, Henderson, Powell, Wall. Cowan, Hicks, Rice, Wilson, Mo. at this time is $1,026,826,390, but the 2 psr cent thirty-year bonds Davis, Kennedy, Richardson, and the 4 percents due in 1925 are not to be refunded under this bill. Dixon, King, Saulsbury, That makes it almost certain that the national debt will be con Foot, Latfiam, Trumbull, tinued indefinitely and increased year after year. No one in this 12 Democrats, 9 Republicans. Congress will ever see it paid. In the House, Friday, Febroa;ry £0, 1863. It permits the issue of notes to the national banks to the par {Journal, third session Thirty-seventh Congress, pages 4J2, 443.] value of bonds deposited, which at the present capitalization may Bill of the Senate S. 486. reach $605,772,970, and at the same time reduces the tax on the The question being, Shall the bill pass? it was decided in the affirmative. average circulation of these banks from 1 per cent to one-half of 1 YEAS-78. Aldrich, Dunn, Lansing, Segar, per cent, if the new bonds ara used as a basis for circulation, and Alley, Edgerton, Leary, Shanlrs, of course they will be. In short, we are to have only gold as Ashley Eliot, Lovejoy, Shellabarger, money of final payment and bank notes as a circulating medium. Babbitt,1 Ely, Low, Sherman, Bea.man, Fenton, Mcindoe, Sloan, We delegate to private corporations the right to issue the paper Bingham, Fessenden, S. C. McKean, Spaulding, money for the people and pay them lt per cent to do what the Blair, Fessenden, T. A. D. McPherson, Stevens, Government ought to do. It is hal'dly possible to correctly charac Blake, Fisher, Marston~ Trimble, terize party leaders who boast of our new tenitorial possessions Bnffinton, Frank, Maynar Hallt Law, Noble, Stile£, Cobb, Jenckes, Negley, Stevenson, Barning, Iiazear, Odell, Strouse, Cobur,n, Judd, O'Neill, Stokes, Harrington, Long, Pendwton, 'Stuart, Conger, Julian, Orth, Stoughton, Harris, B. G. Mallory, Pruyn, Thnmas, Cowles, Kelley, Packard, Strickland, Harris, C . .M.. Ma.rey, Radford, Wheeler, Dawes, Kelsey, Paine·, Taffe, Herrick, McDowell, Randall, S. J. Wld:te, C. .A. Dixon, Ketcham, Palmer, Tanner, Holman, McKinney, Rohlkson, White, J. W. Donley, Knapp, Peters, •rulman, Hutchins, Middleton, Rogers, Winfield, Du val, Laflin, Poland, Twichell, Johnson, Miller, W. H. Ross, Wood, Farnsworth, La.sh, Pomeroy, Tyner, Kernan, Morris, J. R. Scott, Yeaman. Ferriss, Lawrence, Prosser, Upson, King, 1\1or1'ison, Steele, J. 13. Fin kelnburg, Logan, Roots., Van Horn, Knapp, Nelson, Steele, W. G. Fisher, Lynch, Sanford, Washburn, C. C. 65 Democrats, 1 Republican. Fitch, Maynard, Sargent, Washburn, W.B. Garfield, McCarthy, Sawyer, Welker, In the Senate, May 10, 1S64. Gilfillan, McOrary, Schenck, Wheeler, Hale, McGrew, Scofield, Whittemore, [Journal, first session Thirty-eighth Congress, J)age 426.] Hawley, Merour, Shanks, Wilkinson, On the .question, Shall the bill (H. R. 395) pass? it was determined in the · Hoar, Moore, E. H. Sheldon, Willard, affirmative. Hooper, Moore William Smith,J.A. Williams, YEAS-30. Hopkins, Morreil,D.J. Smith,W.C. Wilson, Hotchkiss, Morrill, S. P. Smyth, William Winans. Anthony, :Foot, Lane, Kans. Ten Eyck, Chandler, :Foster, 1Morgan, Trumbull, All Republicans. Clark, Hale, ·Morrill, Van Winkle, NAYS-40. Colla.mer, Harlan, Pomeroy, Wilkinson~ Archer., Fox, McNeely, Swann, Conness, Howard, Ramsey, Willey, Axtell, Golladay, Morgan, Sweeney, Dixon, .Howe, Sherman, Wilson. Beck, Griswold, Mungen, Trimble, Doolittle, Johnson, Sprague, Biggs, Haillht, Niblack, VanAuken, Fessenden, Lane, Ind. SUillner, Bird, Holman, Potter, Van Trump. All R~publicans. Burr, Johnson, Reading, Voorhees, NAYS-9. Oreb!!, Jones, Reeves, Wells, Deweese, Marshall, Rice, Wilson, Buckalew, Orimes, ·Powell, Riddle, . Dick.inson, May ham, Rogers. Wood, Cowan, Henderson, Richardson, Saulsbury. Eldridge, McCormick, Schumaker, Woodward. Davis, 3!! Democrats, 1 'Republican. 6 Democrats, 3 Republic:ms. TO SUBSTITUTE GREENBACKS FOR RANK .NOTES. TO TAX GOVERNMENT BONDS. In the House, January 17, 1870. In the House, June 28, 1864. [Journal, second session 'Forty-first Congress, page 151.] [Journal, first session Thirty-eighth Congre~, ,page 930.] The question being put, it was decided in the negative. The bill of the House H . .R. MO. YEAS-56. Mr. Holman mo\Ted to a.mend the same by ad.ding thereto the foTiowing, Adams, Eldridge, Kerr, Sherrod, viz: "Provided, That nothing in this act shall impair the right of the-stmes Archer, Getz, . Knott, Smith,J.S. to tax the bonds, notes, and other obligations issued under this act as-0ther Axtell, Golladay, Marshall, Stiles, personal property shall be taxed. n Beck; Green, Mayham, Strader, And the question being put, it was decided in the negative. Big~, Griswold, McCormick, Swann, Bir a, Haight, McNeely, Trimble, YEAS-7L Brooks, James Haldeman, Morgan, VanAuken. Burr, Hambleton,Sam'l Mungen, Van Trump, Allen. Grider, Mallory, Ross Butler, Hamill, Niblack, Voorhees, Ancona, Griswold, Marcy, Steele, J. B. Calkin, Hawkins, Randall, Wells, Bliss Harding, McDowell, Steele, W. G. Cox, Hay, Reading, Wilson, E. M. Brooks, Harrington, McKinney, Stiles, Crebs, Holman, Reeves, Winchester, Brown, J. S. Ha.rrisk Middleton, Strouse, Dickinson, Johnson, Rogers, Wood, Chanler, Herric , Miller, S. F. Stuart, Dox, Jones, Coffroth, Holman, Miller, W. H. Sweat, .S :ilinmaker~ Woodward. Cox, Hotchkiss, Morris, Thomas, 53 Democrats, 3 Republicans. Cravens, Hutchins, .Morrison, Tracy, NAYS-lli. Dawes, Johnson, Philip Noble, Van Valkenburgh, .Ambler, Cong~r. Knapp, Sawyer, Dawson, Johnson, William -O'Neill, John Wadsworth, Ames, Cowles, Lash, Scofield, Denison, Kalbfleisch, Pendleton, Ward, Armstrong, Dawes, LaWl"ence, Sheldon, L. A. Eden, Kernan, Perry, Whaley, Asper, Deweese, Logan, Sheldon, P. Edgerton, Knapp, Pomeroy, Wheeler, Bailey, Dickey, Lynch, Smith, J. A. Eldridge, Law, Pruyn, White, C,A. Banks, Dixon, McCarthy, Smith, W. J. English, Lazear, Radford, White,J. W. Barnum, Donley. Mccrary, Smith, W. C. Finck, Le Blond, Randall, Winficld. Beaman, Duval, McGrew, Starkweather, Ganson, Long, Robinson, Beatty, Dyer, Mercur, Stevens, 63 Democrats, 8 Republicans. Benjamin, Ferriss, Moore, E . .H. Stokes, Benton, Finkelnburg, Moore,J. H. Stoughton, NAYS-77. Bin~ham, Fisher, Moore, W. Strong, Alley, Deming, Kellogg, Orlando Schenck, BlaIT, Garfield~ Morrell, Taffe, Allison, Dixon, Littlejohn, Scofield, Boles, Gilfillan, Myers, Tanner, Ames, Donnelly, Loan, Shannon, Bowen, Hale, Negley, Tillman, Anderson, Driggs, Longyear, Sloan, Boyd, Hamilton, C. M. O'Neill, Townsend, Arnold, Eckley, Marvm, Smith, Brooks, G. M. Hawley, Orth, Twichell, Baldwin, Eliot, McBride, Smithers, Buck, Heaton, Packard, Tyner, Baxter, Fenton McClurg, Spalding, Buckley, Heflin, Pa~ker, Upson, Beaman, Uarfield, Mclndoe, Stevens, Buffinton, Hill Paine, Washburn, C. C. Blaine, Gooch, Moorhead, Thayer, Burchard, Hoar, Palmer, Washburn, W.B. Blair, Hale, Morris, Upson, Burdett, Hooper, Peters, Welker, Blow, Higby, Myers, Amos Washburne,E. B. Cake, J enckes, Phelps. Wheeler, Boutwell, Hooper, Myers, Leona.rd Washburn, W . .B. Cessna, Judd, Poland, Wilkinson, Boyd, Hubbard, A. W. Norton, Webster, Clarke, Sidney .Julian, Pomeroy, Broomall, Hubbard,J.H. O'Neill, Charles Williams, Cobb, Amasa Kelley, Potter, ~ll~s Brown, W. G. Hurlburd, C. T. Orth, Wilder, Cobb, C. L. Kellogg, Prosser, WHson, J. T. Cobb, Ingersoll, -Perham, Wilson, Coburn, Kelsey, .Roots, Cole, J enckes, Pike, Windom. Cook, Ketcham, Sa.rgent, Creswell, Julian, Rice, A.H. 112 Republicans, 2 Democrats. Davis, H. W. Kelley, Rice,J.H. Davis, T. T. Kellogg,F. W. Rollins, BILL DESTRUCTIVE OF NATIONAL B.!:NKING SYSTEM. All Republicans. In the Home, :Jan-uary 19, 1881. In the House, March 29, J.869. '[Journal, fliira session Forty-si:rlb Congress, pa.,~ 211.] [Journal, first session Forty-first King, Muldrow, Scoville, Turner, T. able to give by requiring them to deposit bonds havin~ the least value of any Kitchin, Muller, Shelley, Updegraff, T. bonds issued by the Government. . Klotz, New. Simonton, Upson, • • * Knott, Nicholls, Singleton, J. W. Vance, * * * "RUTHERFORD B. HAYES.* Le Fevre, O'Connor, Singleton, 0. R. Wadmll, .. EXECUTIVE MANSION. Mm·ch s. 1881.,, Lounsbery, Persons, Slt:rnons, Warner, Manning, Philips, Smith. A. H. 'Vashhurn, EXTENSION OF BA!\TK CHARTERS. Marsh, Phister, Smith, H.B. Weliborn, In the House, May 19, 1882. Martin, B. F. Poehler, Smith, W. E. Wells, Martin, E. L. Reagan, Sparks, White, [Journal, first session Forty-seventh Congress, page 967.] McKenzie, Richardson, J. S. Springer, Whiteaker, On the question, Shall the bill (H. R. 4167) pass? it was decided in the affirm McLain, Richmond, Steele. Whitthorne, ative. McMahon, Ross, 'l'albott, Williams, T. YEAS-125. McMillin, Rothwell, Taylor, R. L. Willis, Aldrich, Evins, McKinley, Shelley, Miles, Russell, D. L. Thompson,jr.,P. B.Wilson, Barr, Farwell, S. S. Miles, Shultz. Mills, Samford, Tillman, Wise, Bayne, Flower, Miller, S il inner, Money, Sawyer, Townshend, R. W. Wood, F. Bt-ach, Garrison, Moore, Smith, A.H. Morrison, Scales, Tucker, Belmont, George, Morey, Smith, D. C. 125 Democrats. 9 Republicans, l Greenbacker. Bingham, Godshalk, Mutc·hler, Smith, J. H. Bliss, Grout. Neal. Spaulding, NAYS-125. Briggs, Guenther, Norcross, Spooner, Aiken, De La l\Iatyr, KillingP1-. Russell, W.A. Buck, Hall. O'Neill, Stone, Aldrich, N. W. Deering, Lapham, Ryan, T. Burrows, J . C. Bammoud, J. Orth, Strait, Aldricn, W. Dick, Lindsey, Ryon,J. W. Parker, Thomas, .Anderson, Dwight, Loring, Sapp, · ~~lw::orth, ii:~~~~1:,r{\i-~ Payson, Thompson, W. G. Bailey, Einst;ein, Lowe, Shallenberger, Campbell, Harris, H. S. Pt>elle, Tillman, Baker, . Ellis, Mason, Sherwin, Candler, Ha..,kell, Pierce, Townsend, A. Ballou, ErrPtt, McCoid, Speer. Cannon, Heilman, Pettibone, Tyler, Belford. Ferdon, McCook. Stevenson, Carpenter, Henderson, Phelps, Updegraff, J: T. Beltzhoover Field, McGowan, Stone, Caswell, Hiscock, Pound, Updegraff, T. Bingham, Fisher, McKinley, Taylor, E. B. Chace, Hoblitzell, Prescott, Urner, Blake, Ford, Miller, Thomas, Covington, Houk, Ranney, Van Aernam, Bland, Forsythe, Mitchell, Thompson, W. G. Crapo, Humphrey, Ray, Wait~ Bowman, Fort, Monroe, Townsend, A. Cullen, Hutchins, Rice, J.B. Wara, Boyd, FGr.yee'tte Morse, Tyler, Davis. G. R. Jacob , Rice, W.W. Watson, Brewer, 1lJ Morton, Updegraff, J. T. Dawes,: Jadwin, Rich, . Webber, Briggs, Godshalk, Murch, Urner, Deering, Kelley, Richardson, D. P. West, Brigham, Hall, Neal, Valentine, De Motte, Klotz, Richardson, J. S. White, Burrows. Hammond,John Newberry, VanAerman, Deuster, Lewis, Ritchie, C. G. Butterworth, Harmer, Norcross, Voorhis, Dibble, Lord, Robeson, ;~Mt~s, Calkins, Harris,B. W. O'Neill, Wait, Dingley, Lynch, Robinson, G. D. Wood, W.A. Camp, Haskell, Overton, Ward, Dunnell, Mason, Robinson, J. S. Young. Cannon, Hawley, Pacheco, Weaver, Dwight, McClure, Ross, Carpenter, Hayes, Page, Wilber, Ellis, McCord, Russell, Caswell, Hazelton, Phelps, Willi,ams, C. G. Ermentrout, McCook, Ryr..n, Claflin, Heilman, Pound, Willits. 103 Republicans, 22 Democrats. Colerick, Henderson, Prescott, Wood,W.A. Conger, Hiscock, Price, Wright, NAYS-67. Cowgill, Horr, Reed, Yocum, Aiken, Cook, Jones, G. W. Shackelford, Crapo, Hubbell. Rice, Young, T.L. _i\.nderson, Cravens, Jones,J.K. Simont1m, Daggett, . Humphrey, Richardson,D.P. Atkins, Culberson, Kenna, Singlf'lton, J. W. Davis, G. R. Jones, Robertson, Belt.shoover, Cutt.'l, Knott, Singleton, 0. R. Davis, H. Keifer, Robinson, Bland. Davis, L. H. Ladd. Sparks, 8 Democrats, 100 Republicans, 8 Greenbackers. Blount, Dunn, Le Fevre, Springer, Brumm, Finley, Marsh, Stockslager :En the Senate, Februm·y 18, 1881. Burrows, J. H. Ford, Matson, Thompson, P. B. Cabell, Forney, McKenzie, Turner, H. G. [Journal, third session Forty-sixth Congress, page 283.] Ualdwell, Geddes, l\fcl\Jillin, Turner, 0. On the question, Shall the bill (H. R. 4592) pass? it was determined in the Ca.RSidy, Gunter, Money, Vance, affirmatiTe. Clardy, Hammond, N.J. Morrison. Warner, YEAS-43. Clark, Hai.P.ltine, :Muldrow, Wellborn, Clements, Hatch, Murch. Whitthorne, Bailey, Farloy, Kernan, Slater, Cobb, Hoge, Randall, Williams, T. Bayard, Garland, Lamar, Thurman, Colerick, Holman, Reagan, Wilson. Beck. Groome, McDonald, Vance, Converse, Bouse. Rice. T. X. Booth, Grover, McPherson, Vest, Brown, Hampton, Maxey, Voorhees, 57 Democrat3, 2 Republicans, 8 Greenba.ckers. Butler, Harris, Morgan, Walker, In Senate. Call, Hereford, Pendleton, Wallace, [Bill H. R. 4167. Journal, page M5.] Cockrell, Hill. Ga. Plumb, Whyte, Coke, Ingalls, Pugh Williams, On the question, Shall the bill pass? it was decided in the affirmative. Davis, Ill. Johnston, Saulsbury, Withers. YEAS-34. Eaton, Jonas, Saunder~, Aldrich, Frye, Lapham, Rollins, 38 Democrats, 5 Republicans. Allison, Gorman, Logan, Saunders, "'. NAYS-20. Blair, Groome, McMillan, Sawyer, Call, Haml>ton, Mahone, Sewell, Allison, Cameron, Wis. Hoar, Paddock, Miller, C'al. Platt, Chilcott, , Harrison, Sherman, Anthony, Dawes, Kirkwood, Cou~er, Hawley, Miller, N. Y. Van Wyck. Baldwin, Ferry, Logan, Rollins, Davis, W. Va. Hill, Colo. Morgan, Windom. Blair, Hamlin, McMillan, Teller, Dawes, Hoar, Morrill, Burnside, Hill, Colo. Morrill, Windom. Ferry, Jonas, Ransom, All Republicans. 26 Republicans, 8 Democrats. PRESIDENT HAYES'S VETO OJI' THB BILL. NAYS-13. . In the House, Mm·ch S, 1881. . Brown, George, Pugh, Williams. [Journal, third session Forty-sixth Congress, page 585.] Cockrell, Grover, Vance, The Speaker laid before the House the message received fro~ the Presi Coke, Jones, Nev-. Voorhees, dent of the United States vetoing H. R. 4592. · Farley, Maxey, Walker, ''To the House of Representatives: 12 Democrats, 1 Republfoan. ''Havinir considered the bill entitled 'An act to facilitate the refunding of CONFF.RENCE REPORT ADOPTED, the national debt,· I am constrained to return it to the House of Represent atives. in which U originated, with the following statement of my objections In the House, July 10, 188l. to its passage: [Journal, page 1612.] . * • • • • • • The report of the conference committee that the House recede from it-s "I Rhould not deem it my duty to interpose my constitutional objection to position and agree to the amendment of the Senate was adopted. the passage of the present bill if it did not contain in its fifth section provi sions which, in my judgment, seriously impair the value and tend to the de YEAS-110. struction of the present national banking system of the country. Aiken, Carpenter, George, Kasson, * • • * • • • Aldrich, W. Ca.qwell, Gibson, Kelley, "Under this section it i'l obvious that no additional banks will hereafter Barr, Chase, GodRha.lk, Ketcham, be organized, except possibly in a few cities or localities where the prevail· Bayne, Crapo, Hammond, J. Lacey, ingrates of interest in ordinary business are extremely low. No new bank~ Bisbee, Cutts, Harden bergh, Lord, can be organized and no incrP.ase of the capital of existing banks can be ob Hrewer,J.H. Darrall, Barris.B. W. Lynch, tained except by the purchase and deposit of 3 per cent bonds. No other Briggs, Dawes, Haskell. Mackey, bonds of the United ~tates can be used for thf'I purpose. The one thousand Browne, Deering, Hazleton, G. 0. McCook, millions of other bonds recently issued by the United States ancl bearing a Buck, De Motte, Hepburn, McKinley, higher rate of intere~t than 3 per cent, and therefore a better security.for the Buckner, Dingler,, Hiscock, Mc Lane, bill holder, can not. after the 1st of July next, be received as security for Burrows. J. 0. Dunneu, . Hoblitzell, Milee. bank circulation. This is a radical change in the banking law. It takes from Butterworth, Dwight, Horr, Moore, the banks the right they have heretofore had under the law to purchase and CamJ)bell, •Ermentrout, Houk, Morey, deposit as security for their circulation any of the bonds issued by the United Candler, Errell, Hubbell, Morse, States, and depriTelil the bill holder of the best security which the ba.nks are Cannon, Farwell, S.S. Jadwin, Mutchler, 1900. CONGRESSIONAL RECORD-HOUSE. 2831 Neal, Ray, Smith, D. C. Valentine, McMahon, Randolph, Smalls, Van Voorhes, Norcross., Reed, S paulding, VanAerman, Metcalfe, Rea, Smith, Wm. E. Waddell, Oates. Rice, J.B. S pooner, War!sworth, Mills, R eagan, Sparks. Walsh, O'Neill. Rice, W.W. Stune, E. F. Wait, Money, Reilly,, Suringer Welch, Orth, Rich, Strait, Walker, l\forgan, Rice. Amerieus V. ·&teele, White, Harry· Pacheco, Ritchie, Talbott, Ward. Morrison, Riddle, Stephens, Wnite, Michael D. Parker, Robinson, G. D. Taylor, E. B. Washburn, fuld1·ow, Robbins, Stone, John W. Whitthorne, Payso:i, Robinson, J. S. Thompson, W. G. Webber, Neal, .; Roberts, Stone, Jos. C. Williams, C. G. Peelle, Ecranton, Townsend, A. White,J. D. Oliver, Robertson Strait, Williams, .Jere N. Peirce, Shallenberger, Tyler, Williams, C. G. Pacheco, Robinson, Milton S. Thompson, Willis, Albert S. Pound, Sltelley, pde~raff, J. T. Willitts. Page, "Ryan, Thorn burgh, WiUits, · Prescott, Shultz, Updegraff, T. Patterson, T. M. Sampson, Throckmorton, Wilson, Ranney, Smith, A.H. Urner, Patterson, G. W. Sapp, 'l'ipton. Wren, 99Republicans,11 Democrats. PhPlps, Sayler, Townsend. Amos Wright, P hillips, Sc.ales, Townshend, R. W Yeates, NAYS-79. Pollard, Sexton, Tucker, Young. Anderson, Culberson, Jones, G. W. Scales, Pound, Shallenberger, Turner, Armfield, Davidson, Kenna, Simonton, Price, Shelley, Turney, Atkins, Dibrell, Klotz, Singleton, 0. R. Pridemore, Slemons, Vance, Belford, Dowd, Knott, Speer, 112 Democrats, 77 Republicans. Beltzhoover, Dugro, Ladd, Springer, Berry, Dunn, Latham, Thomnson, P.B., jr. NAYS-'79. Blount, Evins, Lowe, T illman, Bacon, Eames, Ketcham, Rice Wm.W. Brumm, Food, Matson, Townshend, R. W. 1 Buchanan, Frost, McKenzie, Tucker, Bai;ley, Eickhoff, Landers, RobmRon, Geo. D. Caldwell, J. W. Fulkerson, McMillan, Turner, H. G •. Baker, Wm.II. Ellsworth, Lapham, Schleicher, Cassidy, Geddis, Mills, Turner,O. Ballou, Evans, I.Newton Leonard, Sinnickson, . Chapman, Hammond,N.J. Morrison, Upson, Banks, Field, Lindsey, Smith, A. Herr Clardy, Hardy, Moulton, Vance, Beebe, Freeman, Lo~ wood, Starin, Cobb, Hazeltine,J. S. Page, · Warner,R. B shee, Frye, Loring, Stenger, Converse, Hatch, Paul, Wellborn, Blair, Garfield, McCook, Stewart, Cook, Hewitt,G. W. Phelps, Williams, T. Brig-gs, Hale, Morse, Swa11n, Cox, S.S. Hoae Phister, Wilson, Bundy, Hardenbergh, Muller, Veeder, Cox. W.R. Hofm'an, Randall, Wise,G.D. Campbell, Harmer, Norcross, Wait, Covington~ Hooker, Reagan, Wise,M.R.· Chittenden, Harris, Benj. W. O'Neill, Warner, Cravens, House, Rosecrans, Clafiin, Hart, · Overton, Watson, Clark, Alvah A. H endee. Peddie, Williams, A. S. 69 Democrats, 2 Republicans, 6 Greenbackers, 2 Readjusters. Colf', Hewitt, Abram S. Potter, Williams, Andrew Covert, Hungerford, Powers, Williams, James S'rANLEY MATTHEWS'S RESOLUTION. Crapo, James, Pugh, Williams, Richard Davis, Horace Jones, Frank Quinn, Willis, Benj. A. Th!i 1;;{t{~!v£~:a:~'f ~h~a{;~i!d ~~:t!s°fs~~~de~~~~tv~:~a~~:fs!~:I~: Denison, .Jorgensen, Rainey, Wood. der the said acts of Congress herein before recited are payable, principal and Dwight, Joyce, Reed, interest, at the option of the GovernmeJ',lt of the United States in silver dol 2'Z Democrats, 57 Republicans. lars of the coinage of the United States, containin~ ~grains each of stand ard silver: and that to restore to its coinage such ~ilver coins as a le~al tender FUNDING NATIONAL DEBT, in payment of said bonds, ,Principal and interest, is not in violation of the public faith nor in derogation of the rights of the public creditor. In Senate, March 11, 1870. In the Senate, January S5, 1878. [Journal, second session Forty-first Con~ess, pages 361-36!.] [Congressional Record, volume 27, page 561.] On the question, Shall the bill (S. 380) pass? it was determined in the 51.ffirm On the passage of the resolution the question was decided in the affirma ative. tive. YEAS--0"2. YEAS-43. Chandler, Harlan, Pomeroy, Sherman, Allison, Davis, Ill. Jones, Fla. Plumb, Cole, Harris. Pratt, Stewart, Armstrong, Davii:i, W. Va. Jones, Nev. Ransom, Conkling, Howard, Ramsey, Sumner, Bailey, Dennis, Kirkwood, Saulsbury, Edmunds, Howell, Revels, Thayer, Beck, Dorsey, Mccreery. Saunders, Fenton, Kellogg, Rice, Tipton, Booth, Eustis, McDonald, Spencer, Ferry, Morrill, Vt. Sawyer, Warner, Bruce, Ferry, McMillan, Teller, Fo·vler, Morton, Schurz, Williams, Cameron, Pa. Gordon, · Matthews, Thurman, Gilbert, Osborn, Scott, Wilson. Cameron, Wis. Grover, Maxey, Voorhees, All Republicans. Chaffee, Hereford, Merrimon, Wallace, Coke, Howe, Morgan, Withers. NAYS-10. Conover, Johnston, Oglesby, Bayard, Casserly, McDonald, Thu1·mn.n.· 23 Democrata, 20 Republicans. -Boreman, Corbett; Sprague,· Bnckingham, McCreary, Stoekton, NAYS-22. 5 Democrats and 5 Republicans. Anthony, Conkling, Lamar, Rollins, Barnum., Dawes, McPherson, Sargent, 11~ the House, July 13, 1870. Bayard, Eaton, Mitchell, Wadleigh, Blaine, E dmunds, Morrill. Windom. [Journal, second session Forty-first eongress, page 1242.] Burmdde, Hamlin, Paddock, On conference report to bill S. 380. Christiancy, Kernan, Randolph, On the question, Will the House agree to the report? it was decided m the 7 Democrats, 15 Republicans. affirmative. YEAS-139. THE SAME RESOLUTION. Allison, Cowles, Knapp, Sargent, In the Hou.~e. JanuanJ !28, 1878. Ambler, Cullom, Laflin, Sawyer, Ames, Darrall, Lash, Schenck, [Reco:rd, volume 27, page 628.] Armstrong, · Davis, Lawrence, Shanks, On the question, Shall the resolution pass? it was decided in the affirmative. Arnell, Dawes, Logan, Sheldon, L.A. Asper, Degener, Loughridge, Sheldon,P. YEAS-189. Atwood, Dickey, Lynch, · Smith, J.A. Aiken, Cannon, Evins, John H. Hewitt, G. W. Ayer, Dixon, Maynard, 8mith, W.J. Aldrich, Carlisle, Ewing, Hooker, Bailey, Donley, McCarthy, Smith,w.a Atkins, Caswell, Felton, House, Banks, Duval, Mccrary, Smyth,W. Baker, John H. Chalmers, Finley, Hubbell, Barry, Ela, McGrew, Stevens, Banning, Clarke, Ky. Forney, Humphrey, Benjamin, Farnsworth, Mercur. Stokes, . Clark, fo. Fort, Hunter, Bennett, Ferriss, Moore, E. H. Stoughton, ~Il~e, Clark, Rush, Foster, Hunton, Benton, Ferry, Moore, J.E. Strickland, Bicknell, Clymer, Franklin, Ittner, Bingham, Finkelnburg, Moore. W. Taffe. BlackburnJ Cobb, Fuller, Jones, James T. Blair, Fii:iher, · Morphis, Tanner, · Blount, Collins, Gardner, Jones, John S. Botes, Fitch, Morrell, Taylor, Bouck Conger, Garth, Keifer, Boyd, Garfield, Myers, Tilhnan, Boyd, Cox, Jacob D. Gause. Keightley, Brooks, G. M. Gilfillan, Negley, Townsend, Bra1?g, Cox, Samuel S. Giddings, Kelley, Buck, Hamilton, C. M. O'Neill, Twichell, Brentano. Cravens. Glover, Kenna, Bnckley. Harris, Orth, 'J:'yner, Brewer, Crittenden, Goode, Killinger, Buffin ton, Hawley, Packard, Upson, Bridges, Culberson, Gunter, Kimmel, Burchard, Hays, Charles Packer, Van Horn, Bright, Cummings, Hanna, Knapp, Burdett, Heflin, Paine, Van Wyck, Brogden, Cutler, Harris, Henry R. Knott, Butler, Hill, Palmer, Ward, Browne, Davidson, Harrison, Lathrop, Cake, Hoar, Peck, Washburn. Buckner, Davis, Joseph J. Hartridge, Ligon, Cessna, Hooper, Perce, Welker, Burchard. Deering, Hartzell, Luttrell, Churchill, Hotchkiss, Peters, Wheeler. Burdick, Dibrell, Haskell, Lynde, Clark, W. T. Jenckcs, - Phelps, Whitmore, Butler, Dickey, Hate·her, Mackey, Clarke, Sidney Judd, Poland, Wilkinson, Cabell, Dunnell, Hayes, Manning, Cobb, Julian, Porter, Willard, Cain, Durham, Hazelton, Marsh, Coburn, Kelley, Prosser. Williams, Caldwell, Jn&. W. Elam, Henderson, :Martin, Cook, Kellogg, Rogers, Wilson, J. T. Caldwell, W. P. Ellis. Henkle, Mayham, Conger, Kelsey, Roots, Witcher. Calkins, Errett, Henry, McKenzie, Covode, Ketcham, Sanford, Candler, Evans, James L. Herbert, McKinley, All Republicans. • ' 2832 CONGRESSIONAL RECORD-HOUSE. MARCH 13, NAYS-53. NAYS-14. Adams, Dickinson, Marshall, Ston~ Bogy, Goldthwaite, Merrimon, Thurman, Al'cher, Eldridge, Ma.yham. Swann, Cooper, Rager, Ransom, Tipton. Axtell, Getz, McCormick, Sweeny, Davis, Hamilton, Tex. Sprague, Barnum, Griswold, ·McKenzie, Trimble, Dennis, Johnston, Stevenson, Beatty, Haight, Morgan, Van Trump, Voorhees, 11 Democrats, 1 Republican, and 2 Independents. ~I;:S, ~!:fJeton, Sam'l ~~~t;r~iI. Wel.lai In 'the House, January 7, 1875. Bh·d, Hay, J'. B. Reeves, Wilson, E. M. Brooks,Jas. Holman, Rice, . Winchester, [JouTDal, second session Forty-third Congress., pages 136, 137.] Burr, Johnson, Sr.humaker, Wood, On the question, Shall the bill (8. 10!4) pass? it was decided in the nffil'llla. Calkin, Jones, Sherrod, Woodward. ti~ . Cleveland, Kerr, Slocum, YEAS-136. Cox, Knott, Smith, J. S. Albert, Garfield, McKee, Shoemaker, Crebs, Lewis, Stiles, Averill, Gunck91, McNulta, Small, 51Demom·ats,2 Republicans. Barber, Hale, Merriam., Smart, Barrera, Harmer, Monroe, Smith, A.H. THE A.CT OF MA.ROH 18, 1869, TO STRENGTHEN THE PUBLIO CREDIT. Ban-y, Harrison, Moore, Smith, H.B. In the House, March tf!, 1869. Bass. Hathorn, Myers, Smitb, .T. A. Begole, Hawley, Negley, J. S. Smith,J. Q. [Honse Journal, first session Forty-first Congress, pages 31to36.] Biery, J. S. Hays, O'Neill, Spra gue, On the question., Shall the bill (H. R. 7) pass? it was decided in the affirma B1·adley, Hazelton, r.-. W. Orr, Stanard, tive. Burch&rd, Hazelton, J. W. Orth, Starkweather, Burleigh, Hendee, Packard, St. John, YEAS-97. Burrows, Hodges, Packer, Strawbridge, Allison, Dawes, Lasb, Sheldon, Butler, Hooper, Page, Taylor, Ambler, Donley, Lawrence, Smith,J.A. Cain, Hoskins, Parsons, Thomas, C. R. Ames, Duval, Lynch, Smith,W.C. Carpenter, Houghto~ Pelham, Thomas, C. Y. Armstrong, Dyer, Maynard, Smyth, William Carson, Howe, Peud.Wton, Thompson, Arnell, Farnsworth, Mccrary, Stokes, ' Cessna, Hunter, Pike, Thornburgh, Asper, Ferri'>, McGrew, Stoughton, Chittenden, Haynes, Pla.tt, Todd, Axtell, Ferry, Mercnr Strickland, Clayton, Kasson, Poland, Tremain, Bailey, Finkelnbnrg, Moore,J.H. Tanner, 1 Clements., Kellogg, Pratt, Tyner, Banks, Fisher, Moore, William Tillman, Cobb, · Killinger, Purman, Waldron, Beam.an, Fitch, Morrill, Twichel, Corwin, Lam~ort, Ray, Wallace Benjamin, Gilfillan, Negle. y, Upson, Cotton, LanSIDg, Richmond, Ward,J.D. Bennett, Hale O'Neil, Van.Horn, Crooke, La'vrence, Roberts, W!!.rd\M.L. Bin~ham, Hawley, Packard, Ward, Crounse, Loughridge, Robinson, Wheernr, Blair, Heaton, Paine, Washburn, C. C. Curtis Lowe, Rusk, White, Boles, Hoar, Palmer, Washburn, W. B. Danford, Lowndes, ·.sawyer, Whiteley, Boyd, Hooper, Phelps, Welker, Dobbins, Lynch, Sayler. Wilber, Poland, Wheeler, Donnan, Martin, Scofield, Willard, George Buffington, Hotchkiss, 1 Burdett, J enckes, Pomeroy, Whittemore, Duell, Maynard, Scudder, Williams, J. M. S. Cessna, Jones, A.H. Prosser, Wilkinson, Eames, Mccrary, Sener, Williams William Churchill, Judd, 'Roots, Willard, 1 Farwell, McDill, A. S. Sessions, Willia.mB: W. B. Cobb, C. L. Julian. Sanford, Willia.ms, William 1 "Freeman, .McDill,.J. W. Shanks, Wilson, James Cook, Kelsey, Sargent, Winans,J.J. Frye, 'MacDougall, Sheats, Wilson, J. M. Conger, Ketcham, !:lawyer, All Republicans. Cowles, Knayv, Sclienck, NAYS-98. Cnllom, Laflin, Scofteld, Adams, Dawes, Knapp, Sherwood, 96 Republicans, 1 Democrat. Archer, De Witt, Lamar, Sloss. NAYS-47. Arthur, Eldredge, Lamison, Smith, W.A. Ashe, Field, · Lawson, Southard, Archer, Dickinson, Mayham, Stiles, Atkins, Finck, Leach, Stephens, Beatty, Eldridge, McCormick, Stone, Banning, Giddings, Magee, Stone, Beck, Getz, McNeely, Strader, Beck, Glover, Marshall, Storm, Biggs, Golladay, Moffet, Sweeney, Bell. Gooch, McLean, Swan, Bir • 1900. CONGRESSION-AL RECORD-HOUSE. 2833 NAYS-86. YEAS-177. .Abbott, Frye, Metcalfe, Sinnickson, Acklen, Cummings, Jones,J.T. Robbins, ~d ams, Gibson, Miller, Smalls, . Aiken, <..,'utler, Jones,J.S. Robertson, E.W. Bagby, Hale, Monroe, Smith, A.H. Aldrich, Danford, Jorgensen, Robinson, M. S. Bagley, G. A. Hancock, Morrison, Strait, Atkins, Davidson, Keifer, Ryan, Dean, Keightley, Sampson, Ba~ler.jr.,J.H. Hardenbergh, Nash, Stowell, Baker, £a er, Harris, Norton, Thom;rbson, Banning, Deering, Kelley, Sap~, Ballo~ Henderson, O'Brien, Thorn urgh, Bayne, Dibrell, Knapp, Say er, Banks, Hewett, Odell. Townsend, Beebe, Douglas, Knott, ShellE>y, Bell, Hoar, O'Neill, Tufts, Bell, Dunnell, Landers, Singleton, Blair, Hoge, Packer, Wait, Benedict, Durham, Lathrop, Slemons, Burchard, Hyman, Page, Walker, C. C. B. Bicknell, Eden, Ligon, Small<>, Caswell, Joyce, Pierce, Ward, Blackburn, Elam, Lockwood, Smith, W.E. Chittend,en, Kasson, Piper, Warren, Blount, Errett, Luttrell, Southard, Conger, Kehr, Platt, Wells, Boone, Ewing, ~de, Sparks, Crounse, Kimball, Potter, White, Bouck, Felton, ackey, Springer, Cutler, Lamar, Powell, Whiting, Boyd, Finley, Maish, Steele, W. L. Danford, .Lapham, Pratt, Willia.ms, A. S. Br~g, Forney, Manning, Stephens, Davy, Levy. Rainey, Willis, Bri ges, Fort, Marsh, Stone,J. W. Dt1rand, Lynch, Ross, Wilson, James Brogden, Foster, Martin, Stone, J. O. Eames, McDougall, Rusk, Woodburn. Browne, Franklin, Mayham, Strait, Ely, Mccrary, Sampson, Buckner, Fuller, McGowan, Swann, Freeman, Meade, Schleicher, Bnndy, Gardner, :McKenzie, Thompson. Burchard, Garth. McKinley, Thornburgh, 27 Democrats, 59 Republicans. Burdick, Giddings, McMahon, Tipton, 'l'his bill was never c.onsidered in the Senate. Cabell, Glover, Townsend, A. Cain, Gunter, M~i~ue, Townshend, R. W • .ANOTHER BILL TO REPEAL TUE RESUMPTION .ACT. Caldwell, J. W. Hale.. Mitchell, Tu,cker, In the House, November Z3, 1877. Caldwell. W. P. Hamilton, Morgan, Vance, Cam£Lell, Hanna, Morrison, Walker [Journal, first session Forty-fifth Congress, pages 264, 265.] C'an er, Hard~nberfth, :Muldrow, Walsh,' Cannon, Harns,H.• Neal, Warner, On the question, Shall the bill (H. R. SOi'i) as amended pass? it was decided in (;as well, Harri'3, J. T. Oliver, Welch, the affirmative. Chalmers, n'lrtridge, Overton, White, H. YEAS-133. Clark, A.A. Hartzell, Page, White,M.D. Atkins, Eden, Hunton, Sapp, Clarke, J . B. Haskell, Patterson, G. W. Wig-~nton, Baker, Elam, Humphrey, Sayler, Clark, R. Hatcher, Patterson, T. M. Williams, C. G. Banning, Errett, Jones, J. T. Scales, Clymer, Hayes, Phillips, Williams, J. N. Bafine, Evins,J.H. Jones, J. S. Shelley, Cobb, Hazelton, Pollard, Willis, A. S. Be , Ewing, Kelley~ Singleton, _Cole, Henderson, Pound, Willits, Blackburn, Felton, Kenna., Slemons, Conger, Hewitt, Price, Wilson, Bland, Finley, Killinger, Smith, Cook, Herbert, Rainey, Wren, Boone, Forney, Knapp, Sparks, Cox, House, Randolph, Wright. Cravens, Hunter, Rea, Brag~" Fort, Knott, Springer, Brog en, Franklin, Ligon, Steele, Critte nden, Humphrey, Reagan, Culberson, Ittner, Browne,_ Fuller, .Mackey, Thom~son, Rice,A.V. Buckner, Gardner, Maish, Throe morton, 106 Democrats, 71 Republicans. Cabell, Garth, Maiming, Tipton, NAYS-35. Caldwell, J, W. Giddings, Marsh, Townshend, R. W. Caldwell, W. P. Glover, Mart in, Tucker, Bacon, Davis, Joyce, Robinson, G.D. Calkins, Goode, McKenzie, Turner, Baker, Eames, Ketcham, Sinnickson, Cannon, Gunter, McMahon, Turney, Blair, Eickhoff, Lapham, Smith, A.H. Carlisle, Hamilton, MiIJs, Vance, Briggs, Frye, Loring, Sten~er, Chalmers, Hanna, Morgan, Van Vorhes, Camp, Garfield, Monroe, War , Clarke, J.B. Harris, H. R. Mul row, Waddell, Chittenden, Gibson, N orcross, Williams, Richard Clarke, J . B., jr. Harris, J. T. Oli>cr, Walker, Claflin, Hendee, ·Potter, Willis, B. A. Clymer, H. Harrison, Phelps, Walsh, Co>ert, Hiscock, Pugh, Wood. Cobb, Hartridge,· Phillips, White,H. Crapo, Hungerford, Rice,w_.w. Collins, Hartzell, Pridemore, White, M.D. 7 Democrats, 28 Republicans. Cook, Haskell, Rea, Whitthorne, In the Senate, May 28, 18i8. Cravens, Hatcher, Rea~an, Williams, J. N. Crittenden, Hayes, Reily, Willis, A. S. [Journal, second session Forty-fifth Congress, pages 581, 582 . .] Culberson, Honk le, Rice, A. V. Wilson, On the question, Shall the bill (H. R. 4.653) pass? it was determined in the Davidson, Henry, Riddle, Wright. affirmative. , D avishJ. J. Hewitt, G. W. Robbins, Yeates, YEAS-41. Young. Dibre, Herbert, Roberts, Allison, Dennis, Kirkwood, Saunders, Dickey, Hooker, Robertson, E. W. Armstrong, Ferry, Mcc reery, Spencer, Douglas, Honse. Robinson, Bailey, Gordon, McDonald, Teller, Durham, Hunter, Ryan, Beck, Grover, McMillan, · Thurman, 109 Democrats, 24 Republicans. Blaine, Harris, Matthews, Voorhees, Cameron, Pa.. Hereford, Maxey, Wallace, NAYS-1.ID. Cameron, Wis. Hill, Merrimon, Windom, Aldrich, Danford, Keightley, Price, Cockrell, Ingalls, Morgari, Withers. Bacon, Davis, H. Kimmel, P~h, Coke, Johnston, Oglesby, Bagley, Deering, Lande1·s, Quinn, Conover, ,Jones, Fla. Paddock, Baker, Denison, Lapham, Rainey, Davis.ill. Kellogg, Ransom, Ballou, Dunnell, Lathrop, Randolph, 22 Democrats, 19 Republicans. Banks, Dwight, Leonard, Reed, Beebe, Eames, Lindsey, Rke,W.W. NAYS-18. Benedict, Eickhoff, Lockwood, Robinson, G.D. Anthony, Christiancy, Kernan, Saulsbury, Bisbee, jr. Ellsworth, Loring. Ross, · Barnum, Conkling, Mitchell, Wadleigh, Blair, Evans, I. N. Luttrell, Sampson. Bayard. Eaton, Morrill, Whyte. Boyd, · Foster, Mayham, Schleicher, Burr::.sice, Ho:tr, Randolph, Brentano, Freeman, McCook, Shallon berger, Butler, Howe, Rollins, Brewer, Frye, McGowan, Sinnickson, 8Democr~ts,10 Republicans. Briggs, Garfield, McKinley, Stenger, Burchard, Gibson, Metcalfe, Stewart, TO MAKE GREENBACKS RECEIVABLE FOR IMPORT DUTIES. Burdick, Hale. Mitchell, Stone, Cain, Hardenbergh, Munroe, Thornburgh, - In the House, January 1S, 1879. Camp, Harmer, Morrison, Townsend, [Journal, third session Forty-fifth Congress, pp.ges 101-195.] Campbell, Harris, B. W. Morse, Wait, .on the question, Shall the bill (H. R. 5548) pass? it was decided in the affirm Chittenden, Hart, Muller, Warner, ative. _ . Claflin, Hendee, Norcross, Watson, YEAS--153. Clark, A. A. Henderson, O'Neill, Welch, Clark, R. Hewitt, A. S. Overton, Williams, A. S. Acklen, Burdick, Davis,J. J. Harris, H. R. Cole, Hubbell, Pacheco, Williams, A. Aiken, Butler, Deering, Harris,J. T. Conger, Hungerford, Page, Willia.ms, C. G. Aldrich, Cain, Dibrell. Harrison, Covert, Ittner, Patterson, Williams, R. Atkins, Oaldwell,J. W. Dunnell, Hartzell, Cox, James, Peddie, Willis, B. A. Bagley, Caldwell, W.P. Durham, Haskell, Crapo, Jones, F. Potter, Willits, Banning, CamJlbell, Eden, Hatcher, Cummings, Jorgensezv Pound, Wood, Bayne, Can er, Ellis, Hayes, Joyce, Powers, Wren. Bicknell, Cannon, Evans.J.L. Hazelton, Cutler, Blackburn, Clark, Evins,J.H. Henderson, 28 Democrats, 92 Republicans. Blount, Clymer, Ewing, Hewett, This bill was never considered in the Senate. Boone, Cobb, Felton, Herbert, ACT OF MAY 31, 1878, TO FORBID THE FURTHER RETIREMENT OF LEG.AL- Bouck, Collins, Forney, House, TE..'IDER NOTES. Bragg, Conger, Fort, Hunter, Brewer, Cook, Franklin, Humphrey, In the House, April ~9, 1878. .Bridges, Cravens, Garth, Ittner, [Journal, second session Forty-fifth Congress, page 969.) . Bright, Culberson, Gibson, James, Brogden, Cummings, Goode, Keifer, (Bill H. R. 4663.) Browne,· Cutler, Gunter, Keifhtley, On the question, Shall the rules be suspended and the bill passed? it was de· Buckner, Danford, Hamilton, Kel ey, cided in the affirmative. Burchard, Davis, Horace Hanna. Kenna, xxxm ~- _ 178 2834 CONGRESSIONAL RECORD- HOUSE. MARCH 13, Killinger, Neal, Sampson, Turney, SILVER LEGISLATION-FREE COINAGE BILL. IDmmel, Overton, jr. SapE, Vance, In the House, Decembe1··1s, 1876. Knapp, Page, Say er, Warner, Knott, Patterson, G. W. Sexton, White, Harry [Journal, second session Forty-fourth Congress, pages 71, 72.] Landers, Patterson, T. M. Shallenberger, White,M.D. On the que:;tion, Shall the bill (H. R. 4189) pass? it was decided in the af· Lapham, Peddie, Singleton, Whitthorne, firmative. Ligon, Phill~s, Sinnickson, Wififi!nton, YEAS-168. Luttrell, Poun, Slemons, Wil · ms,C.G. Ainsworth, Durham, Leaven worth, Sparks, ~de, Price, Smalls, Williams,J.N. Anderson, Ellis, Lewis, Spencer, ac.k:E.\y, P1idemore, Southard, Willis, A. S. Ashe. Evans, Luttrell, Springer, Maish, Pugh, Springer, Willits, Atkins, Faulkner, ~de, Stanton, Marsh, Rainey, Steele, Wilson, Bagby, Felton, ackey, Strait, Martin, Randolph, St.one, Wood, Balley, jr., J. H. Finley, Magoon, Stenger, McMahon. Rea, Strait, Wright, Ba er,J.H. Forney, Mccrary, Stevenson, Metcalfe, Reagan, Tipton, Yeates, Banning, Fort, McDill, Stone, Mills. Rice, Townsend, Amos Young. Bland, Foster, McFarland, StoweJl, Mitchell, Robbins, Townshend, R. W. Blount, Franklin, Milliken, Swann. Morrison, Roberts, Tucker, Boone, Fuller, Mills, Teese, Muldrow, Ross, Turner, Bradford, Glover, Money, Terry. 107 Democrats, 46 Republicans. Bradley, Goode, Monroe, Thornburgh, NAYS-43. Bright, Gunter, Morgan, Throckmorton, Brown, J. Y. Hamilton, A. H. Mutchler, Townsend, Bacon, Covert, Hewitt, A. S. O'Neill, Brown, W.R. Hamilton, Robt. Neal, Tufts, Ballou, Cox, Hungerford, Reed. Buckner, Hancock, Odell. Turney, Banks. Dean, Jones, Frank Robinson, Burchard, H. C. HardenberAh, Oliver, Van Vorhes, Benedict, Denison, Jones, J. S. Smith, Burchard, S. D. Harris, H .. Page, Vance, J. L. Blair, Dwight, Joyce, Starin, Cabell, Harris, J. T. Payne. Vance,R. B. Bliss, Eames, Ketcham, Stewart, Caldwell, J. H. Harrison, Phillips, Waddell, Briggs, Foster, Lathrop, Ward, Cald welltl W. P. Hartridge, Piper, Waldron, Camp, . Garfield, McCook, Willia.ms, Andrew Campbe , Hartzell, Poppleton, Walker, Chittenden, Hardenbergh. Mon1·oe, Williams, James Cannon, Hatcher, Powell, Wallace, A. S. Claflin, Hart, Morse, Willis, B. A. Carr, Hathorn, Rea, Wallace, J.W. Cole, Henry, Norcross, Cason, Haymond, Rea.Jan, Walsh, 12 Democrats, 31 Republicans. Caswell, Henderson, Rei y, John Watterson, WEAVER'S RESOLUTION. Cate, Henkle, Reilly, J. B. Wells, Erastus Caulfield, Hereford Rice, Wells, G. W. In the House, .April 5, 1880. Clarke, Hewitt, G. W. Riddle, White, [Journal, second session Forty-sixth Congress. pages 950, 951.] Clark, jr., J. B. Holman, Robbins, John Whiting, Mr. Weaver moved that the rules be suspended so as to enable him to sub- Clymer, Hooker. Robbins, W. M. Wbitthorne, mit, and the Honse to agree to. the following resolutions. viz: · Collins, Humphreys, Roberts, Willard "Resolved, That it is the sense of this House that all currency, whether Conger, Hunter, Rusk, Williams, A. metallic or paJ1r, necessary for the use and convenience of the people, should Cook, Hunton, Sampson, Williams, C. G. be issued an its volume controlled by the Government, and not by or Cowan, Kelley, Savage, Williams, J. N. through the bank corporations of the country; and when so issued should Cox, Kimball, Scales. Williams. W. B. be a full legal tender in payment of all debts, public and private. Crounse, Knott. Sheakley, Wilson, Benjamin "Resolved, That, iu the !udgment of this House, that portion of the interest- Culberson, La.mar, Singleton, Wilson, James bearing debt or the Unite States which shall become redeemable in the year Cutler, Landers, Franklin Slemons, Woodworth, 1881, or prior thereto, being in amount $782,000,001,k-should not be refunded Davis. Landers,G.M. Smith, William Yeates, beyond the power of. the Government to call iu said obligations and pay them Dibrell, Lane, Southard, Young. at any time, but should be paid as rapidly as possible, and according to con- 12! Democrats, 44 Republicans. tract. To enable the Government to meet these obligations, the mints of the NAYS-53. United States should be operated to their full calh'city in the coinage of standard silver dollars, and such other coinage as t e business intere::;ts of Adams, Frye, Schumaker, the country may ref&.uire." Ba~1eyi#.A. Garfield, ita?s~· Seelye, On the question,S all the rules be suspended? it was decided in the nega- Ba er, .H. Gibson, l\IacDougall, Sinnickson, tive. Ballou, Hale, Metcalfe, Smith,A H. YEAS-85. Bell, Haralson, Miller, . Tarbox, Blair, Harris, B. W. Nash, Wait, Armfield, Dibrell, Lowe, Singleton, 0. R. Burleigh, Hewitt, A . S. Norton, Warren, Atherton, Dickey, Mannin&', Slemons, Candler, Hoar. O'Brien, Williams, A. S. Atkins, Dunn, McKenzie, Smith, W. E. Chittenden, Hoskins, O'Neill, Willis, Beale. Elam, Mc Millin, Sparks, Davy, Hurd, Packer, Wood, jr., Alan Belford, Ewing, Mill!i, Speer, Denison, Jones, Pierce, Wood, Fernando. Berry, Felton, Muldrow, Steele, Eames, Kasson, Plaisted, Bicknell, Finley, Murch, Stevenson, Flye, Kehr, Platt, Blackburn, Ford, Myers, •.raylor, Freeman, Levy, Potter, Blann, Forney, New, Tillman, Cabell, Forsythe, Nicholls, Turner, Oscar 17 Democrats, 36 Republicans. Clatlin, Frost, Persons, Tarner, Thomas There was no action on this bill in the Senate. Clark, J.B. Geddes, Phelps, Vance, ANOTHER FREE COINAGE BILL. Cobb, Gillette, Philips, Waddill, In the Bou$e, NovembeJ' 5, 1877. Coffroth, Gunter, Reagan, Weaver, Colerick, Harris, J. T . Richmond, Wellborn, [Journal, first session Forty-fifth Congress, vages 143, 14.4.] Cook, Hatch, Robertson, Whitthorne, On the question being put, Shall the bill (H. R.1093) paSs? it was decided in Cox, House, Rothwell, Williams, Thomas the affirmative. Culberson, Hull, Russell, D . L. Willis, YEAS-IM. Davidson, Jones, Ryon,J.W. Wilson. Aiken, Cummings, Hooker, Phillips, Davis, J.J. Kelley, Sawyer, Aldrich, Cutler, Honse, Pollard, Davis, L.H. Kenna, Scales. Atkins, Danford, l:l.ubbell, Pound, De La:Matyr, Ladd, Singleton, J. W. Baker, Darrall. Hunter, Price, 73 De:mocrats, 1 Republican, 11 Greenbackers. Bauning. Davis, J. J. Hunton, P1idemore, NAYS-117. Bell, Deering, Humphrey, Rainey, Bicknell, Dibrell, Ittner, Randolph. . Aldrich,N. W. Davis, Horace Johnston, Reed, Bland, Dickey. Jones, J. T. Rea, Aldrich, William Deering, Joyce, Robinson, Blount, Dunnell, Jones, J. S. Reagan. Anderson, Deuster. Keifer, Ross, Boone, Eden, Keifer, Rice.A.V. Bachman, Dunnell, Kimmel, Russell, W. A. Bouck, Elam, Keightley, Riddle, Baker, Errett, Lapham, Ryan, Thomas Brentano, Ellis, Kelley, Robbins, Barber, Evins, Lewis. Samford, Bridges, Ellsworth, Kenna, Robertson, Bayne, Farr, Lindsey, Shallonberger. Brogden, Evins, Knapp, Robin on, Beltzhoover, Ferdon, Lounsbery, Shelley, Browne, Ewing, Knott, Sampson, Blake, Field, Mason, Smith, A.H. Buckner, Felton, Lathrop, Sapfc• Boyd, Fisher, McUcid, Stone, Bundy, Finley, Ligon, Say er, Brawer, Frye, McGowan, Thomas, Burdick, .Forney, Lut trell, Scales, Briggs, ·Garfield, McLan e, Thompson, \V• P. B. Cabell, Foster, Lynde, Sexton, Brigham, Go(\de, Mitchell, Thompson, . G. Cain, Franklin, Mackey, Sh1:: lley, Browne, Ball, Money, Townsend, Amos Caldwell,J. W. Fuller, Maish, Singleton, Buckner, Harris. B. W. Monroe, Tucker, Caldwell, W. P. Gardner, Manning, Slemons, Burrows, Haskell, Morrison, Tyler, Calkins, Garth, :Marsh, Smith, Butterworth, Hawk, Morse, Updegraff, J. T. Candler, Giddings, Martin, Sparks, Calkins, Hawley, Morton, Updegraff, Thomas Cannon, Glover, McKenzie, Springer, Cannon, Hayes, Neil Upson, Carlisle, Goode, McKinley, Steele, Carlisle, Hazelton, Newberry, Valentine, Caswell; · Hamilton, McMahon, Stewart, Carpenter, Henderson, Norcross, Van Aernam, C..'halmers, Harris, Mills, Stone,J. W. Caswell, Herbert, O'Neill, Voot·his, Clarke, J.B. Harri.son, Money, Stone, J.C. Chittenden, Herndon, O'Reilly, Wait. Clark, J. B., jr. Hartridga. Monroe, Strait, Clymer, Hiscock, Overton, W ashburn, Clark. Rash Hart zell, Morgan, Thornburgh, Conger, Houk, P~e, White, Conger, Haskell, Morrison, Throckmorton, Covert, Hubbell, PhISter, Wilber, Cook, Hatcher, Muldrow, Tipton, Crapo, Humphrey, Pierce, Williams, C. G. (Jox,J. D. Hayes, Neal,. Townsend Amos Cravens, Hunton, Pound, Cox, S.S. Hazelton, Oliver, Townshend, R . W. Dagg-ett, Hurd, Prescott, Cravens, Henderson, Pacheco, Turner. Davis, G. R. James, Price, Crittenden, Hewitt, G. W. P age, Vance, 27 Democrats, 90 Republicans. Culberson, Herbert, Patterson, Van Vorhe" 1900. CONGRESSIONAL RECORD-HOUSE. 2835 Waddell, Willets, Williams, Richard Wright, NAYS-73. Welch, Williams, C. G. Willis, Yeates, Bacon, Dwight, Jones, Frank Ross, White, Williams, J. N. Wren, Young. Bagley, Eames, Joyce, Schleicher, 97 Democrats. 67 Republicans. Baker, W.R. Eickhoff, Ketcham, Sinnickso~ Ballou, Ellsworth, Lapham, Smith,A.11.. NAYS-34. Banks, Field, Lindsey, Starin, Bacon, Davis, Horace Hewitt, A. S. Reed, Beebe, Freeman, Lockwood, Stenger, Ballou, • Denison, Joyce, Rice, W.W. Bisbee, Frye, Loring, Stewart, Blair. Eames, Leonard, Schleicher, Blair, Garfield, McCook, Veeder, Brewer, Field, Lindsey, Stephens, Bliss, Gibson, Morse, Ward, Bri1?gs, Frye, McGowan, Swann, Briggs, Hale, Muller, Warner, Chittenden, Gibson, Morse, Ward, Cain, HardenlJergh, Norcross, Watson, Cl a fl.in, Harden bergb, Norcross, Wood. Camp, Harmer, O'Neill, Williams, A. S. Cole, Hart, Peddie, Campbell, Harris,B. W. Overton, Williams, Andrew Covert, Hendee, Powers, Chittenden, Hart, Potter, Williams,-James Claflin, Hendee, Powers, Willis,B.A. 10 Democrats, 24 Republicans. Covert, Hewitt, A. S. Pugb, Wood. In the Senate. Feb1 uary 15, 1878. Crapo, Hiscock, Reed, Davis, Horace Hungerford, Rice, W.W. [Journal, second session Forty-fifth Congress, page 209.] Denison, James, Robinson, G.D. On the question, Shall the bill (H. R. 1093) pass? it was determined in the 21Democrats,52 Republicans. affirmative. In the Senate, February :28, 1878. YEAS-48. [Journal, second session Fo~ty ·fifth Congress, page 252.] Allison, Davis, Ill Johnston. Oglesby, The President pro t~mpor~ stated t}?.e question be~ore t~e Senate to be1 Shall Armstrong, Davis, W. Va. Jones, Fla. Paddock, the bill pass on reconsiderat10n! and it was determmed m the affirmative. Bailey, Dennis, Jones, Nev. Plumb,• Beck, Dorsey, Kellogg, Saulsbury, YEAS-46. Booth, Eustis, Kirkwood, Saunder<', Allison, Eustis, Jones, Nev. Plumb, Bruce, Ferry, Mccreery, Spencer, Bailey, Ferry, Kellogg, Saulsbury, Cameron,Pa. Garland, McDonald, Teller, Beck, Garland, Kirkwood, Saunders, Cameron, Wis. Gordon, McMillan, Thurman, Bruce, Gordon, :Mccreery, Spencer, Chaffee, Grover, Matthews, Voorhees, Chaffee, Grover, McDonald, Teller, Cockrell, Hereford, Maxey, WalJace, Cockrell, Harris, McMillan, Thurman, Coke, Howe, Merrimon, Windom, Coke, Hereford, Matthews, Voorhees,.. Conover, Ingalls, Morgan, Withers. Uonover, Hill, Maxey, Wallace, Davis, ill. Howe, .Merrimon, Windom, 25 Democrats, 23 Republicans. Davis, W. Va. Ingalls, Morgan. Withers. NAYS-21. Dennis, Johnston, Paddock, • Dorsey, Jones, Fla. Patterson, Anthony, Conkling, Lamar, Sargent, Barnum. Dawes, McPherson, Wadleigh, 25 Democrats, 21 Republicans. Bayard, Edmunds, Mitchell, Whyte. NAYS-19. Blaine, Hamlin, Morrill, Barnum, Dawes, Lamar, Rollins, Burnside, Hoar, Randolph, Bayard, Eaton, McPherson, Sargent, Christiancy, Kernan, Rollins, Blaine, Hamlin, Mitchell, Waaleigh, 7 Democrats, U Republicans. Butler, Hoar, Morrill, Whyte. So it was . Conkling, Kernan, Randolph, Resolved, That the bill pass, and that the title be amended to read: "An I 9 Democrats, 10 Republicans. act.to authorize the coinage of the standard silver dollar, and to restore its legal-tender character." I REFUSED TO SUSPEND COINAGE. In the House of Representatives, April 8, 1886. PASSED OVER PRESIDENT'S VETO. [House Journal, first session Forty-ninth Congress, pages 1192to1195, inclu In the House, Februaiy ZS , 18i8. sive.] Bill CH. R. 5690) for the free coinage of silver, and for other purposes. [Journal, second session Forty-fifth Congress, pages 5i6--M9.] Mr. Dibble submitted the following amendment in the nature of a substi On the bill H. R. 1093. tute, namely: And the question being put, it was decided in the affirmative. I Strike out all after the enacting clause and insert in lieu thereof the fol lowing, namely: YEAS-193. • That unless meantime, through concurrent action of the nations of Europe with the United States, silver be remon etized prior to July l, 1889, Aiken, Cutler, Ittner, Ryan, that then and thereafter s:> mnchof the act of FE\bruary 28, 1878, entitled 'An Aldrich, Danford, Jones,J.T. Sampson, act to authorize the coinage of tlle standard silver dollar and to restore its Atkins, Davidson, Jones,J.S. Sapp, legal -tender chara<'tor' as authorizes and directs the Secretarv of the Treas Ba.ker,J. H. Daviq,J.J. Keightley, Sayler, ury to purchase silver bullion and cause the same to be coined, shall be sus Banning, Deering, Kelley, Scales, pended until further action by Congress." Bayne, Dibrell, Ke.nna, Sexton, '.rne question upon the amendment submitted by Mr. Dibble was decided Bell, Dickey, Knapp, Shallenberger, in the negative:--yeas 84, nays 201, not voting 38. Benedict, Dunnell, Knott, Shelley, Bicknell, Durham, Landers, Singleton, YEAS-&!. Blackburn, Eden, Lathrop, Slemons, Adams, G. E. Dingley, Ketcham, Rockwell, Bland, Elam, Ligon, Smalls, Allen, C.H. Dowdney, Lehlbach, Sawyer, Blount, Ellis, Luttrell. Smith; W. E. Arnot, Dunham, Lindsey, Scott, Boone, Errett, Lynde, Spa!ks, · Atkinson, Ely. Long, Scranton, Bouck, Evans, J. L. Mackey, Sprmger, Baker, Ermentrout, Mahoney, Seymour, Boyd, Evins, J. H. Manning, Steele, Bayne, Evans, :Mc4doo, Shaw, Bragg, Ewing, Marsh, Stephens, Beach, Everhart, Mccomas, Sowden, Brentano, Felton, May ham, Stone,J. W. Belmont, Farquhar, Merriman, Spooner, Brewer, Finley, McGowan, Stone, J.C. Bingham, Findlay, Millard, Spriggs, Brid~es, Forney, McKenzie, Strait, Bliss. Gallinger, Milliken, Stahlnecker, Brignt, Fort, McKinley, Thompson, Bound. Gibson, C.H. Mitchell, Stewart,J. W. Brogden, Foster, McMahon, Thornburgh, Boutelle, Green, R. S. Muller, Stone,E. F. Browne, Franklin, Metcalfe, Throckmorton, Bunnell, Grout, O'Neill, Charles Storm, Buckner, FnllE'r, Mills, Tipton, Burleigh, Harmer, Parker, Strait, Bundy, Garth, Mitchell, Townsend, Amos Uampbell, Felix Haynes, Payne, Swope, Burchard, Giddings, Money, Townsend, M. I. Campbell, T. J. Hemphill, Phelps, Viele, Burdick, Glover, Monroe, Townshend, R. W. Cole. Hewitt, . Pindar. Wadsworth, Butler, Goode, Mor~an, Tucker, Collins, Heistand, Pulitzer, Wait, .Caldwell, J. W. Gunter, Mularow, Turner, Davenport, Hires, Randall, Weber, Caldwell, W. P. Hamilton, Neal, Turney, Davis, James, Ranney, West, • Calldns, Hanna, Oliver, Vance, Dibble, Johnson,A. Candler, Harris, H. R. Page, Van Vorhes, Reed,'£.B. Whiting. Cannon, Harri'3, J. T. Patterson, G. W. Waddell, 33 Democrats, 51 Rept;iblicans. Carlisle, Harrison, Patterson, T. M. Walker, NAYS-201. Caswell, Hartridge. PhelJ?s, Walsh, Anderson, C. M. Brumll'., Conger, Dunn, Chalmers, Hartsell, Phillips, Welch, •Anderson, J. A. Buchanan, C,poper, Eden, Clarke, J.B. Haskell, Pollard, White, Harry Ballentine, Burnes, Obwles, Eldredge, Clark,J.B .. jr. Hatcher, Pound, White, M. D. Barbour, Burrows, Cox, Ellsberry, Clark, Rush!. Hayes, Price, Wbitthorne, Barksdale, Butterworth, Crain, Felton, Clymer, Hazelton, Pridemore, Wig~inton. Barnes, Bynum, Crisp, Fisher, ColJIJ, Henderson, Rainey, Williams, C. G. Barry, Cabell, Croxton. Fleeger, Cole, Henry Randolph, Williams, J. N. &nnett, Caldwell, Rea, Culberson, Foran, Conger, H ewitt, Williams, Richard Bla~chard, Campbell, Curtin, Ford, Cook, Herbert, Reagan, Willis, A. S. Bland. Candler, Cutcheon, Forney, Cox, J. D. Hocker, Rice, A. V. Willits, Blount, Cannon. Daniel, Frederick, Cox, S.S. House, Riddle, Wilson, Boyle, Carleton, Davidson, A. C. Fuller, Cravens, Hubbell, Robbins, Wren, Brady, Catchings, Davidson, R.H. M. Funston, Ci·ittenden, Hunter, Roberts, Wright, Breckinridge,Ark. Clardy, Dawson, Gay. Culberson. Hunton. Robertson, E. W. ·Yeates, Breckinridge,Ky. Clements, Dockery, Geddes, Cummings, Humphrey, Robinson, M. S. Young. Brown, W. W. Cobb, Dorsey, Gilfillan, 122 Democrats, 74 Republicans. Browne, T. M. Comstock, Dougherty, Glass, - 2836 CONGRESSIONAL RECORD-HOUSE. MARCH 13, Glover~ La. Follette, O'Neill, J. J. Tarsney, Viele, Wakefield West, Willis, Goff, Laird, Osborne, Taulbee, Wadsworth, Ward, J. H. White, Milo Wilson. Green, W. J. Landes, Outhwaite, Taylor, E. B. Wait, Weber, Whiting, Grosvenor, Lanham, Owen, Taylor, J. M. 70 Democrats, 93 Republicans. Guenther, Lawler, Payson, Taylor. Zach. Hale, Le Fevre, Peel, Thomas, 0. B. THE SILVER·BULLION (SHERM.AN) BILL. Hall, Little, P erkins, Thompson, Motion to recommit with instructions to report a bill (H. R. 5381) 7.or free Halsell, Lore, Perry, Throckmorton, coinage. Hammond, Louttit. Peters, Tillman, House of Representati1Jes, Saturday, June 7, 1890. • Hanback, Lovering, Plumb, Trigg, [Journal, first session Fifty-first Congress, pages 714, 715.] Harris, Lowry, Price, Tucker, Hatch, Lyman, Reagan, Turner, Mr. BLAND. I now offer the resolution which I send to the desk. Heard, Markham, Reid,J. W. Van Eaton, The Clerk read as follows: Henderson, D. B. Martin, Richardson, Wade, "Resol-ved, That the bill be recommitted to the Committee on Coinage, Henderson, J. S. Matson, Robertson, Wakefield, Weights, and Measures, with instructions to report back a bill for the free Henderson, T. J. Maybury, Rogers, Ward,J.H. coinage of silver. Henley, McCreary, Romeis, Warner, A. J. The SPEAKER. The question is upon agreeing to the motion to recommit Hepburn, McKenna, Rowell, Warner, Wm. wjth instructions. · Herbert, McKinley, Ryan, Weaver, A. J. YEAS-116. Horman, McMillin, Sayers, Weaver, J.B. .Abbott. Cooper, Ind. Lane, Robertson, Hill, l\IcRae, Seney, Wellborn, .Alderson, Cothran, Lanham, Rogers, Hitt, Miller, Sessions, Wheeler, Allen, Mich. Cowles, Lee, Rowland, Holman, Moffatt, Singleton, White, A. C. Allen, Miss. Crain, Lester, Ga. Sayers, Holmes, Morgan, Skinner, • White, Milo .Anderson, Crisp, Lester, Va. Seney, Hopkins, Morrill, Smalls, Bank.head, Culberson, Tex. Lewis, Shively, Houk, Morric;on, Snyder, ~~ns, Barnes, Davidson. Mansur, Skinner, Howard, Morrow, Springer, Wilso;, Bartine, De Haven, Martin, Ind. ._,pringer, Irion, Murphy, Steele, Wise, · Barwig, Dockery, McClammy, Srewart, Tex. .Johnson, J. T. Neal, Stephenson, Wolford, Biggs, Edmunds, McClellan, Stockdale, Johnson, T. D. Neece, Stewart, Chas. Woodburn, Blanchard, Ellis, McCreary, Stone, Ky. Jones, J. R. Oates, St. Martin, Worthington. Bland, Enloe, McRae, Stone, Mo. King, O 'Donnell, Stone, W. J., Mo. Blount, Featherston, Montgomery, Tarsney, Kleiner, O'Ferrall, Struble, Breckinridge, Ark. Forney, Moore, Tex. Tillman, Laffoon, O'Hara, Symes, Breckinridge,Ky. Fowler, Mori:ran, •.rownsend, Colo. 130 Democrats, 71 Republicans. Brickner, Funston, Morrow, Tucker, Brookshire, Gibson, Oates, Turner, Ga. FREE COINAGE BILL. Buchanan, Va. Goodnight, O'Ferrall, Turner, Kans. Bullock, Grimes, O'Neall, Ind. Vandever, Upon the question of the engrossment and third reading of the bill, it was Bynum, Hatch, Outhwaite, Walker, Mo. decided in the negative. • Candler, Ga. Hayes, Owens, Ohio Washington, YEAS-126. Carter, Haynes, Parrett, Wheeler, Ala. Caruth, Heard, Peel, Whitthorne, Anderson,J.A. Forney, Lowry, Sessions, Catchings, Henderson, N. C. Penington. Wike. Ballentine, Frederick, Markham, Singleton, Chipman, Hl3rbert, Perkins, Wilkinson, Barksdale, Funston, Matson, Skinn&r, Clancy, Hermann, Perry, Williams, Ill. Barnes, G la es, J\fayb,:ry, Snyder, Clarke, Ala. Holman, Pierce, Wilson, Mo. Barry, Goff, McMillin, Springer, Cobb, Kelley, Reilly, Bennett, Green, W. J. McRae, Stewart, C. Wilson, W. Va. Bland, Hale, Miller, St.Martin, Connell, Kilgore, Richardson, Yoder. Brady, Halsell, Morrill, Stone, W.J.,Mo. 101 Democrats, U Republicans, 1 Wheeler. Breckinridge, Ark. Hammond, Morrow, Symes, NAYS-HO. Brumm, Hanback, Neal, Tarsney, ilurnes, Harris, Neece, Taulbee, Adams, Dingley, Lacey, Rife, Bynum, Hatch, O'Ferrall, Taylor, J.M. Arnold, Dolliver, La Follette, Rockwell, Cabell, Heard, O'Hara, Taylor, Z. Atkinson, Pa. Dorsey, Laidlaw, Rowell, C::i.ldwell, Henderson, T. J. O'Neill, J. J. Throckmorton, .Atkinson, W. Va. Dunnell, t;'ds, Russell, Candler, Henley, Owen, Tillman Baker, Dunphy, Sanford, Carleton, Hermann, Payson, Trigg, • Banks, Elliott, Lodge, Sawyer, Clardy, Hill, Peel. Van Eaton, Bayne, Evans, Maish, Scranton, Clements, Holman, Perkins, Wade, Beckwith, Ewart, Mason, Scull, Cobb, Houk, Perry, Warner, A. J. Belden, Farquhar, Mccomas, Sh~rma.n, Comstock, Howard, P eters, Warner,W. Belknap, Finley, McCord, SimondR, Cowles, Irion, P lumb, Weaver, A.. J. Bergen, Flick, McCormick, Smith, W. Va. Crisp, Johnston, J. T. Price, Weaver, J.B. Bingham, Flood, McDuffie, Smyser, Croxton, Johnston, T. D. Reagan, Wellborn, Boothman, Flower, McKinley, Snider, Culberson, Jones, J. H. Reid,J. W. Wheeler, Boutelle, Frank, Miles, Stephenson, Curtin, King, Reese, White, A. C. Bowden, Gear, Moffitt, Stivers, Daniel, Kleiner, Richardson, Wilkins, Brewer, Geissenhainer, Moore,N.H. Stockbri:!ge, Dawson, Laffoon, Riggs, Wise, Brosius, Gest, Morer,l Struble, Dockery, Landes, Robertson, Wolford, Brower, Gifford, Morrill, Sweney, Dunn, Lanham. Rogers, Woodburn, Browne, Va. Greenhalge, Morse, Taylor, E. B. Eldredge, Lawler, Ryan. Worthington. Buchanan, N. J. Grosvenor, Mudd, Taylor, ill. Ellsberry, Le Favre, Sayers, Burrows, Hall, Mutchler, Taylor, Tenn. Ford, Louttit, Seney, Burton, Hansbrough, Nute, Thomas, Butterworth, Harmer, O'Donnell, Tracey, 96 Democrats, 30 Republicans. Caldwell, Haugen, O'Neil. Mass. Van Schaick, NAYS-163. Cannon, H emphill, O'Neill, Pa. Venable, Caswell, Henderson, Ill. Payne, Wade, Adams,G. E. Davidson, A. C. Herbert, O'Neill, Charles Cheadle, Henderson, Iowa Payson, Walker, Mass. Allen, C.H. Davidson, R.H. M. Hewitt, Osborne, Clark, Wis. Hill, Pickler, Wallace, N. Y. Anderson, C. M. Davis, Hiestand, Outhwaite, Pugsley, Wickham, Arnot, Dibble, Hires, Parker, ~r:~:~· ~~~kins, Quackenbush, Wiley, .Atkinson, Dingley, Hitt, Payne, Comstock, Houk, Quinn, Williams, Ohio Baker, Dorsey, Holmes, Phelps, Conger, Kennedy, Raines, Wilson, Ky. Barbour, Dougherty, Hopkins, Pindar, Craig. Kerr, Iowa. Ray, Wilson, Wash. Bayne, Dowdney. James, Pulitzer, Dalzell, Ketcham, Reed, Iowa Wright, Beach, Dunham, Johnson, F. A. Randall, Dargan, Kinsey, Reyburn, Yardley. Belmont, Eden, Ketcham, Ranney, Bingham, Ely, La Follette, Reed, T. B. 127Repuhlicans,13 Democrats. Blanchard, Ermen trout, Laird, Rockwell, So the motion to recommit with instructions to report back a bill for free Bliss, Evans, Lehlbach, Romeis, coinage was rejected. Blount, Everhart, Lindsley, Rowell, PASSED THE HOUSE. Bound. Farquhar, Little, Sawyer, Boutelle, :Felton, Long, Scott, On the question of the passage of the bill as amended, it was decided in Boyle, Findlay, Lore, Sm·anton, the affirmative. Breckinridge, Ky. FishElr, Lovering, Seymour, YE.AB-135. Brown, W.W. Fleeger, Lyman, Shaw, Adams, Buchanan, N. J. Dunnell, Henderson, Iowa, Browne, T. M. Foran, Mahoney, Smalls, All"3n, Mich. Burrows, Evans. Hermann, Buchanan, Fuller, Martin, Sowden, Arnold, Burton, Ewart, Hill Bunnell, Gallinger, • McAdoo, Spooner, Atkinson, Pa. Butterworth, Farquhar, Hitt, Burleigh, Gay, Mccomas, Spriggs, Atkinson, W. Va.. Caldwell, Featherston, Hopkins, Burrows, Geodes, McCreary, Stahlnecker, Baker, Cannon, Finley, Houk, Butterworth, Gib!Oon, C.H. JllcKenna, Steele, Banks, Caswell, Flick, Kennedy, Campbell, Gilfillan, McKinley, Stephenson, Bayne, Cheadle, Flood, Kerr. Iowa, Campbell, J.E. Gloverr.... Merriam, Stewart,J. W. Beckwith, Clark, Wis. Frank, Ketchem, Campl>cll, T. J. Green, .l:IO. S. Millard, Stone, E. F. Belden, Funston, Kinsey, Cannon, Grosvenor, Millikin, Storm, Belknap, g~fe~:~.' Gear Lacey, Catchings, Grout. Mitchell, Strait, Bergen, Comstock, Gest,' La Follette, Co!e, Guenther, Moffatt, Struble, Bingham, Conger, Gifford, Laidlaw. Collins, Hall, :Morgan, Swinburne, Boothman, Connell, Greenhalge, Laws, Conger, Harmer, Morrison, Swope, Boutelle, Craig, Grosvenor, Lind, Cooper, Haynes. Muller, . Ta-ylor, E. B. Bowden, Dalzell. Hall, Lodge, Cox, Hemphill, Murphy, Thomas, 0. B. Brewer, De Haven, Hansbrough, Ma.son, Crllin, Henderson,D.B. Norwood, Thompson, Brosius, Dingley, Harmer, Mccomas, Cutcheon, Henderson,J.S. Oates, Tucker, Brower, Dolliver, Haugen, McCord, Davenport, Hepburn, O'Donnell, Turner, Browne, Va. Dorsey, Henderson, m. McCormick. 1900. -- coNGRESSIONAL RECORD ... -HOUSEo' 2837 McDuffie, Payson, Scranton, Taylor, Tenn. Springer, Ta.rsney, Venable, Wilkinson. McKinley, Perkins, Scull. Thomas, Stewart, Ga. Tillman, Wade, Williams, ill. Miles, Pickler, Sherman·, Vandever, Stewart, Tex. Townsen~, Colo. Washington, Williams, Ohio Moffitt. Pugsley, Simonds. Van Schaick, Stockdale, Tucker, Wheeler,A.la. Wilson, Mo. Moore, N. H. Quackenbush, Smith, W. Va. Wade, Stone,K_y. Turner,Ga. Whiting, Wilson, W. Va. .Morer. Raines, Sm-yser, Walker, Mass. Stone, Mo. Turner, Kans. Whitthorne, Morrill, Ray, Snider, Wallace. N. Y. 112 Democrats, 22 Republicans, 1 Wheeler. Morrow, Reed, Iowa, Stephenson, Wickham, Morse, Reyburn, Stivers, Williams, Ohio. NAYS-152. Mudd, Rife, Stockbridge, Wilson, Ky. Adams, Craig, La Follette, Sanford, Nute, Rowell, Struble, Wilson, Wash. Allen, Mich. Culberston, Pa. Laidlaw, Sawyer, O'Donnell, Russell~ Sweney, Wright, Andrew, Cutcheon, Lansing, Scranton, O'Neill, Pa. Sanfora, Taylor, E. B. Yardley. Arnold, Dargan, Lehlbach, Scull, Payne, Sawyer, Taylor, IlL Atkinson, Pa. Darlington, Lind, Sherman, 134Republicane,1 Wheeler. Baker · De Lano, Lodge, Simonds, NAYS-119. Banks: Dingley, Maish, Smith, W. Va. Abbott, Crain, Lester, Ga. Rogers, Bayne, Dolliver, Mason, Smyser, Alderson, Crisp, Lester, Va. Rowland, Beckwith, Dunnell, McAdoo, Snider, Allen, Miss. Culberson, Tex. Lewis, Sayers, Belden, Dunphy, McComas, Spinola, Anderson, Kans. Dar~an, lllaish,J. Seney, Belknap, Evans, McCord, Spooner, Bankhead, Davidson, Mansur, Shively, Bergen, Farquhar, McDuffie, Stephenson. Barnes, Dockery, Martin, Ind. Skinner, Bingham, Finley, McKenna, Stewart, Vt. Bartine, Dunphy. McClammy, Springer, Bliss, Flick, McKinley, Stivers, Barwig, Edmunds, McClellan, Stewart, Tex. Boothman~ Flood, Miles, Stockbridge, Biggs, Elliott, McCreary, Stockdale, Boutelle, Flower, Milliken, Struble, Blanchard, Ellis, McRae, Stone, Ky. Bowden, Frank, Moffitt, Stump, Bland, Enloe, Montgomery, Tarsney, Brewer, Gear, Moore,N. H. Sweney, Blount, Flower, Moore, •rex. Tillman, Brosius, Geissenhainer, Morey, Taylor, E. B. BreckinridgP-, Ark.Forney, Morgan, Townsend, Colo. Brower Gest, Morse, Taylor. ill. Breckinridge, Ky. Fowler, .Mutchler, Tracey, Browne', Va. Greenhalge, Mudd, Taylor, •renn. Brickner, Geissenhainer, Oates, Tucker, Buckalew, Grout, Mutchler, Thomas, Brookshire. Gibson, O'Ferrall, Turner, Ga. Burrows, Hall, Niedringhaus, Townsend, Pa. Buchanan, Va. Goodnight, O"N eall, Ind. Tarner, Kans. Burton, Hansbrough, O'Donnell, Tracey, Bullock, Grimes, O'Neil, Mass. VeIJable, Butterworth, Harmer, O'Neil, Mass. •.rurner, N. Y. Bynum, Hatch, Outhwaite. Walker, Mo. Cald woil, Haugen, 0 'Neill, Pa. Vandever, Candler, Ga.. Ha.yes, Owens, Ohio Washington, Campbell. Henderson, Ill. Payne, Van Schaick, Carter, Haynes, Parrett, Wheeler, A.Ia. Uandler, Mass. Henderson, Iowa P ayson, Vaux, Carn th, Heard, Peel, Whitthorne, Cannon, Hill, Pugsley, Waddill, Catchings, Henderson, N. C. Penington, Wike, Caswell, Hitt. u'.LCkenbush, W i..llace, Mass. Chipman, Herbert, Perry, Wiley, Cheadle, Hopkins, u1nn, Wallace, N. Y. Clancy, Holman, Pierce, Wilkinson, Cheatham, Houk, ~aines, Watson, Clarke, Ala. Kelley, Quinn, Williams. ill. Clancy, Kennedy, Reed, Iowa. Wiley, Cobb, Kilgore, Reilly, Wilson, Mo. Cogswell, Kerr, Iowa Reyburn, Wilcox, Cooper, Ind. Lane, · Richardson, Wilson, W. Va. Coleman, Ketcham, Rife, . Wilson,~. Cothran, Lanham, • Robertson, Yoder. Comstock, Kinsey, Rowell, Wilson, Wash. Cowles, Lee, Rockwell, Conger, Knapp, Rusk. Wright, Covert, Lacey, Russell, Yardley. . 112 Democrats, 7 Republicans. 130 Republicans, 22 Democrats. SILVER-BULLIOY BILL. In the Senate, Tuesday, June 17, 1800. In, the House, July 12, 1890. [Journal, first session Fifty-first Congress, page 377.] On the question of agreeing to the report of the conference committee it On the question, Shall the bill In the Senate, Tuesday, July 10, 1890. FREE COINAGE OF SILVER. [Journal, first session Fifty-first Congi·ess, page 421.] In the Senate, July 1, 1891. [Bill H. R. 5381.] f Recor~, volume 23, page 5719. Bill S. 51.] On the question of concurring in the report, it was decided in the affirma- tive. On the question.of the bill as amended, it was decided in the affirmative. YEAS-39. YEAS-29. Aldrich, Edmunds, McMillan, Sanders, Allen, Eva.1·ts. Manderson, Sawyer, Allen, Dubols, Mills, Stewart, Allison, Farwell, Mitchell, Sherman. Bate, Faulkner, Mitchell, Teller, Blair, Frye, Moody, . Spooner, Berry, George, Morgan, Turpie, Case-y, Hawley, Pettigrew, Squire. Blackburn, Harris, Peffer, Vest, Cullom, Higgins, Pierce, Stewart. Blodgett, Hill, Ransom, Wolcott. Davis, Hiscock, Platt, Stockbrislge, Butler. Jones, Nev. Sanders, Dawes, Roar, Plumb, Washbu1·n, Cameron, Kenua, Shoup, Dixon, Ingalls, Power, Wolcott. Cockrell, Kyle, Squire, Dolph, Jones, Nev. Quay, 19 Democrats, 8 Republicans, 3 Populists. All Republlcans. NAYS-?;). NAYS-26. Allison, Dixon, Hawley, Stockbridge, Barbour, Colq_uitt, Jones, AI·k. Turpie, Brice, Dolph, McPherson, Warren, Hate, Dam el, Kenna, Vance, Carey, Felton, Manderson, Washburn, BlackburnJ Faulkner, ::McPherson, Vest. Carlisle, Gallinger, Palmer, White. Call, Gibson, Pasco, Voorhees, Cullom, Gorman, Perkins, Carlisle, Gorman, Pugh, Walthall Davis, Gray, Proctor, Cockrell, Haml>ton, Ransom, Dawes, Hale, Sawyer, Reagan, Coke, Harr1S, 7 Democrats, 18 Republicans. All Democrats. MOTION TO TABLE FREE-COINAGE BILL. In House, July 1S, 18~. In the House, March f4., 1892. Mr. BURROWS moved to lay the bill on the table. [Record, volume 23, page 6133. Bill S. 51.] And the ~uestion being put, Shall the bill (H. R. «26) lie on the table? it On the question of passing resolution to consider free-coinage bill, it was was decide in the negative. decided in the negative. · YEAS-148. YEAS~136. Amerman, Craig, Pa. Haff, Powers, Abbott. Crain, Tex. Kem, Price, Andrew, Crosby. Hull, ~u!lckenbusb, Alexander, Crawford, Kendall, Robertson, La.. Atkinson, Cummings, Johnson, Ind. am es, Arnold, Crisp. Kilgore, Sayers, Bacon, Curtis, Johnson, N. Dak. Randall, Babbitt, Culberson, Kyle, Seerley, Earwig, Cutting, Ketcham, Ray. Bailey, Davis, Lane, Shell, Belden, Dalzell, Kribbs, Rayner, Baker. De Armond, La.rib.am, Shively, Belknap, Daniell, Lagan, Reed, Bankhead, Dixon, Lawson, Va. Sim~;;on, Belzhoover, De l<'orest, Lapham, Roy burn, Bar tine, Dockery, Lawson, Ga. Sno grass, . Bentley, Dingley, Lind, Rife, Beeman. Donovan, Layton, Stewart, Tex. Bergen, Doan, Little, Robinson, Pa. Blanchard, Dungan, Lester, Va. Stone, Ky. Bingham. Dolliver, Lockwood, Russell, Bland, Edmunds, Lestor, Ga. Sweet, Boutelle, Dunphy, Scull, Blount, Ellis, Lewis, Tarsney, Bowman, En~lish, t~~~· :::>eerley, Bow ors, Enloe, Livingston, Terry, Brawley, Fel ows, Lynch, Shonk, Bowman, Epes, Long, Tillman, Brickner, Fitch, Magner, Smith, Branch, Everett, Mallory, Townsend, Brosius, Flick, McAleer, Sperry, Bretz. Fithian, l\Iansur, Tucker, Brunner, Geary, McDonald. Stephenson, Brookshire, Forney, Martin, Turner, Buchanan,N.J. Geissenhainer, McGann, Stevens, Brown, Fyan, McCreary, Turpin, Bunting, Gilleste, McKaig, Stone, C. W. Bryan, Gantz, McKei~han, Warwick, Burrows, Green eaf, l\lcKenna. Storer, Buchanan, Va. Goodnight, McMilhn, Washington, Bushnell, Griswold, McKinney, Stout, Bullock, Gorman, :McRae, Watsonk Cable, Grout, Meyer, Stump, Bunn, Grady, :\Ion tgomery, Wea.doc , Cadmus. Hall, Miller, Taylor, Ill. Butler, Halvorson, Moore, Wheeler, Ala. Caldwell, Hallowell, Milliken, Taylor,J.D. Byrns, Hare, Moses, White, Castle, Hamilton, Mitchell, •.rracey, Caminetti, Harries, O'Ferrall. Whiting, Causey, Harmer, Mutchler, Walker, Capehart, Hatch, O'Neill, Mo. Williams. N. 0. Chapin, Harter, Newberry, Warner, Catchings, Heard, Otis, Williams. lli. Waugh, Chipman, Haugen. O'Donnell, Cate. Hem~hill, Owens, Wilson, Mo. Clancy, Hayes, Iowa O'NeiJ, Mass. Wever. Cheatham. Ren erson, N. C. Parrett, Winn, Cobb, Mo. Haynes, Ohio 0'- eill, Pa. Whee!er, l\Iich. Clark, Wyo. Holman, Patton, Wise,· Coburn, Henderson, Iowa Outhwaite, Willcox:, Clover, Hooker, Miss. Paynter, Youmans, Cockran, itt, Page, R. I. Williams, Mass. Cobb, Ala. .Johnson, Ind. Pearson, The Speaker. Cogswell, Hoar, Page, f UNCONDITIONAL REPEA..L OF PURCHASE CLA..USB OF SHERJ\IAN LA..W'. TO SUBJECT NAT10NA.L·BA..NK NOTES AND GREENBACKS TO STA.TE TAXES. In the House, November 1, 1893. In the House, July 6, 1894. [Record, volume 25, page~ 3066, 3067. Bill H. R.1.] [Record, volume 26, page 7182. Bill H. R. 4326.] On the question of agreeing to the motion to adopt the conference report, On the passage of the bill it was decided in the affirmative. which adopts the Senate amendment, and passing the bill, it was decided in YEAS-173. the affirmatiye. Abbott, Cox, Jones, Pickler, YEAS-19!. Aitken,• Crawford, Kem, Post, Adams, Curtis, N. Y. Lapham, Reed, Alderson, Curtis, Kans. Kiefer. Powers, Alderson, Daniels, Layton, Reilly, Alexander, Daniels, Kilgore, Price, Aldrich, Davey, Lefever, Reyburn, Allen, Davis, Kribbs, Richards, Ohio Apsley, De Forest, Lilly, Richards, Ohio, Arnold, De Armond, Kyle, Ritchie, Avery, Dingley, Linton, Richardson, Mich. Bailey, Denson, Lacey, Robbins, Babcock, Donovan, Lisle, Ritchie, Baker, Kans. Dockery, Lane, Robertson, La.. Baker, N.H. Draper, Lockwood, Rusk, Baker, N.1!. Dolliver, Lapham, Sayers, Bald win, Dunn. Loudenslager, Russell, Conn. Baldwin, Donovan, Latimer, Shell, Barae , Dunphy, Lynch, Ryan, Bartholdt, Draper, Layton, Snodgrass, Bartlett, Durborow, Magner, Schermerhorn, Bar wig, Dunn, Lester, Sorg, Bar wig, Edmunds, Mahon, Scranton, Bell, Colo. Dnrborow, Linton, Sperry, Belden, English, Marshall, Settle, Bell, 'l'e.x. Ellis, Ky. Lucas, Stone, Ky. Beltz hoover, Erdman, Martin, Ind. Shaw, Berry, Ellis, Oreg. Lynch, Strait, Berry, Everett, Marvin, N. Y. Sherman, Black, Ga. English, Cal. Maguire, Strong, Bingham, Fellows, .M:cAleer, Sickles, Black, Ill Epes, Mallory, Swanson, Black, Ga. Fielder, McCall, Sipe, Boatner, Erdman, Marsh, Sweet, Blaek, Ill. Fitch, McCleary, Minn. Somers, Boen, Fithian, Marshall, Talbert, S. C. Blair, Fletcher, . McCreary, Ky. Sperry, Bower, N. 0. Fyan, Martin, Ind. Talbott, Md. Brawley, Form.an, McDannold, Springer, Bretz, Geary, McCreary, Ky. Tarsney, Br eckinridge~ Ark. Gardner, McDowell, Stevens, Brickner, Goldzier, McCulloch, Tate, Bretz. Geary, McEttrick, Stone, C. W. Broderick, Gorman, McDannold, Tawney, Brickner, Geissenhainer, McGann, Stone, W. A. Brookshire, Grady, McDe:.i.rmon, 'l'aylor, lnd. Brookshire_. Gillet, N. Y. McKaig. Stone, Ky. Bryan, Gresham, McEttrick, Terry, Brosius, Goldzier, McNagny, Storer, Bynum, Griffin, McGann, Turner, Ga. Brown, Gorman, Mercer. Swanson Cabaniss, Grosvenor, McKeighan, Turner, Va. Bunn, Gresham, Meredith, Talbott, Md. Caminetti, Hager, McMillm, Tyler, Bynum, Grout, Meyer, Taylor, Ind. Cannon, Cal. Hall, Minn. McNagny, Updegraff, Cabaniss, Haines, Milliken, Thomas, Cannon, Ill. Hall, Mo. McRaE:I, Van Voorhis, Ohio Cadmus, Hall, Minn. Montgomery, Tracey, Capehart, Hare, Meyer, Warner. Caldwell, Hammond, Moon, Tucker, Caruth, Hayes, Money, Washington, Campbell, Harmer, Morse, Turner, Catchings, Heard, Moon, Waugh, Cannon, Cal. Harter, Mutchler, Turpin, Clark, Mo. Henderson, N. C. Morgan, Wea.dock, Caruth, Haugen, Oates, Tvler. Clarke, Ala. Hepburn, Ogden, Wells Catchings, Henderson, Iowa O'Neil, Mass. Van Voorhis, N. Y. Cobb, Ala. Hermann, O'Neill, Mo. Wheeler, Ala. Causey, Hendrix, Outhwaite, Wanger, Cockrell, Hitt, Outhwaite, Williams, ill. Chic!;ering, Hines, Paschal, Warner, Coffeen, Hooker, Miss. Page, Willia.ms, Miss. Clancy. Hitt, Patterson, Washington, Conn, Hopkins, Ill. Paschal, Wilson, Ohio Cobb, Mo. Holman, Payne, Waugh, , Cooper, Fla. Hudson, Patterson, Wise, Cochran, Hooker, N. Y. Paynter, Wea.dock, Cooper, Ind, Hnnter, Paynter, Wolverton. Cogswell, Hopkins, lil. Pearson, Wells, Cooper, Tex. Hutcheson, Pearson, Compton, Houk, Ohio Pendleton, W. Va. Wheeler, Ill Cooper , Wis. Izlar, Pendleton, Tex. Coombs, Houk. Tenn. Phillips, White, Cousins, Johnson, N. Dak. P endleton, W. Va.. Cooper, Fla Hunter, Pigott, Whitng, . H7 Democrats, 25 Republicans, 1 Popnlist. Cooper, In~ Johnson, Ind. Post, Wilson, W. Va. Cooper, Wis. Johnson, N. Dak. Powers, Wolverton, NAYS-41. Cornish, Johnson, Ohio Price, Woomer, Adams, Pa. Doolittle. Hooker, N. Y. Quigg, Covert, Joyl Randall, Wright, Pa. Bartlett, English,N.J. Hulick, Ray, Crain, Kier er, Ray, Bin~ham, Fletcher, Johnson, Ohio Reilly, Cummings, Kribbs, Rayner, BL'\ll', Gear, Loud, Ryan, 123 Democrats, 71 Republicans. Bowers, Cal. Grow, Loudenslager, Stone,C.W. Brosi us, Hainer, Mahon, Stone, W.A. NAYS-94. Bundy. Haines, Mc:-.leer, Wanger, Aitken, Cox, Hopkins, Pa. Moses, . Covert, Harmer, Mcvall, Wright, Mass. Alexander, Crawford, Hudson, Pence, Cummings, Haugen, Mutchler, Allen, Culberson, Hutcheson, Richardson, Tenn. Dalzell, Henderson, Ill Northway, Arnold, Curtis, Kans. lkirt, Robbins, De !forest, Hicks, Pigott, Bailey, Davis, Jones, Robertson, La. 8 Democrats, 33 Republicans. Baker, Kans. De Armond, Kem, Sayers, Bankhead, Denson. Kilgore, Shell, TO COIN SILVER SEIGNIOR.A.GE. Bell, Colo. Dinsmore, Kyle, Sibley, In the House, March 1, 1894. Bell, Tex. Dockery, Lane, Smith, [Record, volume 26, part 3, page 2524. Bill H. R. 4956.] Blanchard, Doolittle, Latimer, Snodgrass, Bland, Ellis, Oreg. Livingston, Stallfugs, On the question of the passage of the bill, it was decided in the affirmative Boatner, Epes, Lucas, Stockdale, YEAS-168. Boen, Fithian, Maddox, Strait, Abbott, Crawford, Kilgore, Pickler, Bower, N. 0. Funston, Maguire, Sweet, Aitken, Culberson, Kribbs, Post, Branch, Fyan, Mallory, Talbert, S. C. Alderson, Curtis, Kans. Kyle, Price, Broderick, Grady, Marsh, Tarsney, Alexander, Davey, Lacey, Reilly, Bryan, Hainer, McCulloch, Tate, Arnold, Dav1s, Lane, Richards, Ohio Burnes, Hall, Mo. McDearmoB, Terry, . Bailey, De Armond, Latimer, Richardson, Mich. Cannon, Ill. Harris, McKeighan, Wheeler, Ala. Baker, Kans. Denson, Layton, Richardson, Tenn. Capehart, Hartman, McLaurin, Williams, Ill. · Bankhead, Dinsmore... Lester, Ritchie, Clark, Mo. Heard, l\foRa.e Williams. Miss. Bell, Colo. Dockery, Lisle, Robbins, Cobb,Ala. Henderson,N.C. MeikleJohn,1 Wilson, Wash. Bell, TE:lx. Donovan, Livingston, Russell, Ga. Cockrell. Hermann, Money, Berry, Doolittle, Lucas, Sayers, Cooper, Tex. Hilborn, Morgan, Black, Ga. Dnrborow, Maddox, Settle, 72 Democrats, 17 Republicans, 5 Populists. Black, Ill. Edmunds, Maguire, 8bell, Bland, Ellis, Ky. Mallory, Sibley, In the Senate. Boatner, Ellis, Oreg. Marsh, Simpson, [Record, volume 25, page 2958. Bill H. R. 1.] Bwn, Enloe, Marshall, Snodgrass, On the question of agreein!f to the conference report and passing the bill, Bowers, Cal Epes, Martin, Ind. Springer, it was decided in the affirmative. , Branch, Fithian, McCleary, Minn. StalHngs, Breckinridge, Ark. Forman, McCreary, Ky. Stockdale, YEAS-43. Breckinridge, Ky. Funston, McCulloch, Stone, Ky. Aldrich, Gallinger, Lodge, Ransom, Bretz, Fya.n, McDannold, Strait, Brice, Gibson, McMillan, Sherman, Broderick, Geary, McDearmon, Swanson, Caffery, Gorman, McPherson, Smith, Brookshire, Goodnight, McGaun, Sweet, Camden, Gray, Manderson, Squire, Brown, Gorman, McKeighan, Talbert, S. C. Carey, Hale. Mills, Stockbridge, Bryan, Grady, McMillin, Tate, Cullom, Hawley, Mitchell, Wi,~. Turpie, Bunn, Gresham, McNagny, Taylor, Ind. Davis, Biggins, Morrill, Vilas, Bynum, Hall, Mo. McRae, Terry, Dixon, Hill, Murphy, Voorhees, Cabaniss, Hammond, Meredith, Tucker, Dolph, Boor, Platt, Washburn, Caminetti, Hare, Money, Turner, Ga. Faulkner, Hunton, Proctor, White, La. Cannon, Cal. Hartman, Montgomery, Tnrner, Va. Frye, Lindsay, Quay, Caruth, Hatch, Morgan, Turpin, 20 Democrats, 23 Republicans. Catchings, Heard, Moses, Tyler, NAYS--:-32. Clark, Mo. Henderson, N. C. Murray, Weadock, Clarke, Ala. Hepburn, • Neill, Wheeler, Ala. Allen, Coke, Kyle, Roach, Cobb. Ala. Hermann, Newlands, White, Bate, Daniel, Martin, Shoup, Cockrell, Holman, Paschal, Whiting, Berry, Dubois, Pasco, Stewart, Coffeen, Hooker, Miss. Patterson, Williams, Ill. Blackburn, Geor~e, Peffer, Teller, Conn, Hudson, Paynter, Williams, Miss. Butler, Harris, Perkins, Vance, Cooper, Fla.. Hunter, Pearson, Wilson, Wash. Call, Irby, Pettigrew, Vest. Cooper, Ind. Hut-Oheson, Pence, Wise, _ Cameron, Jones, Ark. Power, Walthall, Cooper, Tex. Jones, Pendleton, Tex. Woodard, Cockrell, Jones, Nev. Pugh, Wolcott. Cox, Kem, Pendleton, W. Va. The Speaker. 21 Democrats, 9 Republicans, 2 Populists. 144 Democrats, li .Repnblicans, 9 Populists, 1 Silverite. 2840 CONGRESSIONAL RECORD-HOUSE. MARCH 13, NAYS-129. NAYS-lli. Adams, Ky. De Forest, Johnson, N. Dak. ScJ:J.ermer horn, Adams, Pa. Cummings, Hitt, Ray, Aldrich, Dingley, Johnson, Ohio Scranton, Apsley, Curtis,N. Y. Hopk:ins,m Rayner, Apsley, 'Dolliver, Joy, Shaw, Avery, Davey, Hulick, Reed, Avery, Draper, Kiefer, t:lherman. Ba. bcock, De Forest, Hull, Reyburn, Babcock, Dunphy, Lapham, Sickles, Baker,N.H. DiDgley, Johnson, N. Dak. Russell, Conn. Baker, N. H. Erdman, Lockwood, Somers, Baldwin, Dunn. Kiefer, Ryan, Barnes, Everett, Loud, Sperry, Barllett, Dunphy, Kribbs, Schermerhorn, Barwig, Fielder, Loudenslager, Stephenson, Earwig, English,N.J. Lefever, Shel'I!lan, Belden, Fletcher, Lynch, Stephens, Belden, Erdman, Lockwood, Sickles, Beltzhoover, Funk, Magner, Stone, C.W. Berry, Everett, Loudenslager, Smith, Blair, Gardner, Mahon, Stone, W. A. Blair, Fletcher, Lynch, Stephenson, Boutelle, Gear, McAleer, Storer, Brickner, Funk, Marvin,N. Y. Stone, C. W. Brickner, Geissenhainer, McCall, Straus, Brosius, Gardner, McAleer, Straus, Brosius, Gillet, N. Y. McEttrick, Strong, Burrows, Gear, McEttrick, Talbott, Md. Burrows. Goldzier, McKaig, Talbott, Md. Bynum, Geissenha.iner, McKru~, Tawney, Cadmus, Griftin, Meiklejohn, Tawney, Cadmus, Goldzier, MeikJeJohn, Thomas, Caldwell, Grout, Mercer, Tracey, Campbell, Gorman, Mercer, Tracey, Campbell, Ha~er, Meyer, Updegraff, Cannon, Ill. Grout, Meyer, Tur_pin, Cannon, IlL Hamer, Mutchler, Van Voorhis,Ohie Caruth, Grow, Milliken, Updegraff, Causey, Haines, O'Neil, Wadsworth, Causey, Ha~er, Morse, Walker, Chickering, Harmer, Outhwaite, Walker, Chickering, Hamer, Mutchler, Wanger, Clancy, Harter, Page, Wanger, Childs, Haines, Northway, Warner, Cobb, Mo. Haugen, Payne, Warner, Clancy, Hall, Minn. O'Neil, Mass. Wells, Cogswell; Hayes, Perkins, Waugh, Cobb, Mo. Harter, Outhwaite, Wever, Compton, Heiner, Phillips, Wells, Cockran, Hayes, Payne, Wilson, Ohio Coombs, Henderson, ill. Pigott, Wever, Coombs, Henderson, ill. l'erkins, Wolverton, Cooper, Wis. Hitt, Quigg, Wheeler,m Cornish, Hendrix, Phillips, Wright, Mass. Cornish, Hooker, N. Y. Randall, Wilson, Ohio Cousnls, Hicks, Pigott, Cousins, Hopkins, ill. Ray, Woomer, Covert, Hines, Quigg, Covert, Hopkins, Pa. Reed, Wright, Mass. 69 Democrats, 55 Republicans. Cummings, Hulick, Reyburn, Curtis, N. Y. Hull, Robinson, Pa. BILL TO AUTHORIZE GOLD BONDS. Daniels, Johnson, Ind. Ryan, In the House, February 7, 1895. 15 Democrats, JU Republicans. [Record, volume 27, page 1926. Bill H. R. 8705.] In the Senate Mai·ch 15, 1894. On the question of the passage of the bill, it was decided in the negative. [Record, volume 26, page 2981. Bill H. R. 4'956.J YEAS-135. Adams, Pa. De Forest, Kribbs, Ryan, On the question of the passage of the bill it was decided in the affirmative: Aldrich, Dingley, Lapham, Schermerhorn, YEAS-44. Babcock, Draper, Lefever, Scranton, Baldwin, Dunphy, Lockwood, Sickles, Allen, Dubois, McLaurin, Quay, Barnes, Durborow, Lynch, Sipe, Bate, Faulkner, Martin, Ransom, Bartlett, English, Cal. Mahon, Smith, Berry, George, Mills, Roach, Bar wig, Erdman, Marvin,N. Y. Somers, Blackburn, Gordon, Mitchell, Oreg. Shoup, Beckner, Everett, McAleer, Sorg, Blanchard, Hansbrough, Morgan, Stewart, Beltzhoover, Fielder, McDannold, Sperry, Butler, Harris, Pasco, Teller, Berry, Fletcher, McGann, Stevens, Call, Hunton, Peffer, Turpie, Bingham, Forman, McKaig, Stone,C.W. Cockrell, Irby, Perkins, Vest, Boutelle, Gardner, Meyer, Stone, W.A. Coke, Jones, Ark. Pettigrew, Voorhees, Brickner, Geary, Montgomery, Stone, Ky. Colquitt, Kyle, Power, White, Brosius, Geissenhainer, Mutchler Storer, Daruel, Lindsay, Pugh, Wolcott. Bynum, Gillett, Mass. O'NeQi Mass. Straus; 31Democrats,11Republicans,2 Populists. · Cadmus, Goldzier, O'Neill, Mo. Talbott, Md. Caminetti, Gorman, Outhwaite, Tarsney, NAYB--31. Campbell, Gresham, Page, Tracey, Aldrich, Dolph, Lodge, Platt, Caruth, Griffin, Mich. Paschal, Turner, Ga. Allison, Frye, McMillan, Proctor, Causey, · Griffin, Wis. Patterson, Turner, Va. Brice, Gallinger, McPherson, Smith, Chickering, Grout, Payne, Turpin, Caffery, Gibson, Manderson, Stockbridge, Clancy, Hames, Pearson, Updegraff, Carey, Gorman, Mitchell, Wis. Vilas, Clarke. Ala. Hall, Minn. Pendleton, W. Va. Van Voorhis, N. Y, Chandler, Hale, Morrill, Washburn, Cobb, Mo. Hammond, Pigott, · Wadsworth, Cullom, Hawley, Murphy, Wilson. Coffin, Md. Harmer, Powers, Wanger, Davis, Higgins, Palmer, Coombs, Harrison, Quigg, Warner, Cooper, Fla. Haugen, Randall, Washington, 10 Democrats, 21 Republicans. Cooper, Ind. Hayes, Ray, Wells, Cornish, Hendrix, Reed, Wilson, W. Va. VOTE TO PASS SEIGNIORAGE RILL OVER VETO OF THE PRESIDENT. Covert, Henry, Reilly, Wise, :Fn the Howe, April 4, 1894. Crain, Hicks, Reyburn, Wolverton, Dalzell, HiDes, Richards, Woomer, [Record, volume 26, page 3460. Bill H. R. 4956.] Daniels, Hooker, N. Y. Ritchie, Wright. On the question of passing the bill notwithsta.ndinl? the objections of the Davey, Kiefer, · Russell, Conn. President, it was decided in the negative (two-thirds not having voted there 89 Democrats, 48 Republicans. for). NAYS-162. YEAS-1«. Ada.ms, Ky. Crawford, Hulick, Moon, Aitken, Cox, Lane, Pickler, Aitken, Curtis, Kans. Hull, Moore, Alderson, Crawford, Latimer, Post, Alderson, Davis, • Hunter, Morgan, Alexander, Culberson, Lawson, Richards, Obio Alexander, De Armond, Hutcheson, Moses, · Allen, Curtis, Kans. Layton, Richardson, Mich, Arnold, Denson, Ikirt, Neill, Arnold, Davis, Lester, Richardson, Tenn. Avery, Dinsmore, Izlar, Newlands, Bailey, De Armond, Livingston, Ritchie, Baker, Kans. Dockery, Johnson, N. Dak. Northway, Baker, Kans. Dinsmore, Maguire, Robbins, Baker,N.H. Dolliver, Kem, Ogden, Bankhead, Dockery, Mallory, Russell, Ga,. Bankhead, Donovan, Kyle, Pendleton, Tex. Bell, Colo. Doolittle, Marsh, Sayers, Bell, Colo. Doolittle, Lacey, Perkins, Bell, Tex. Edmunds, Marshall, Shell, Black, Ga. Ellis, Ky. Lane, Pickler, Black, Ga. Ellis, Oreg. Martin, Ind. Sibley, Blair, Ellis, Oreg. Latimer, Richardson, Mich. Bland, Enloe, McCleary, Minn. Simpson, Bland, Enloe, Lawson, Richardson, Tenn, Boatner, Epes, McCreary, Ky. Snodgrass, Boatner, Epes, Layton, Robbins, Boen, Funston, McCulloch, Springer, Boen, Fithian. Lester, Robertson, La. Bower,N.C. Geary, McDannold, Stallings, Bower,N.C. Fyan, Little, Russell, Ga. Bowers, Cal. Grady, McDearmon, Stockdale, Bowers, Cal. Goodnight, Livingston, Sayers, Branch, Gresham, McGann, Stone, Ky. Branch, Grady, Loud, Settle, Breckinridge, Ark. Hall, Mo. JllcLaurin, Strait, Bree \kinridge, Grosvenor, Loudenslager, Shell, Bretz, Hammond, McMillin, Sweet, Bretz, Grow, Lucas, Sibley, Broderick, Hare, McNagny, Talbert, S. C. Broderick, Hager, Maddox, Simpson, Brookshire, Harris, McRae, Tate, Bromwell, Hainer, Nebr. Maguire, Snodgrass, Brown, Hartman. Meredith, Taylor, Ind. Brookshire, Hall, Mo. Mallory, Springer, Cabaniss, Hatch, Money, Ter1-y, Brown, Harris, Marsh, Stallings, Caminetti, Henderson, N. C. Montgomery, Tucker, Bryan, Hartman, Marshall, Stephenson, Cannon, Cal. Hepburn, Moon, Turner, Ga. Bundy, Hatch, :McCleary, Minn. Stockdale, Capehart, Hermann, Morgan, Turner, Va. Cabaniss, Heard, McCreary, Ky. Strait, Catchings, Holman, Moses, Cannon, Cal. Henderson, ill. McCulloch, Strong, Clark, Mo. Hooker, Miss. Neill, ~~:blngton, Cannon, Ill. Henderson, Iowa :McDowell, Swanson, Clarke, Ala. Hudson, Oates, Wheeler, Ala. Childs, Henderson, N. C. McKeighan, Talbert, S. C. Cobb,Ala. Hunter, O'Neill Mo. Whiting, Clark, Mo. Hepburn, McLaurin, Tate, Cockrell, Hutcheson, Paschal, Williams, ill. Cobb, Ala. Hermann, McMillin, Tawney, Coffeen, Ikirt, Patterson, Williams, Miss. Cockrell, Hitt, McNagny, Taylor, Ind. Conn, Jones, Paynter, Wilson, Wa.sh. Coffeen, Wyo. Holman, McRae, Taylor, Tenn. Cooper, Fla. Kilgore, Pence, Wise. Conn, Hooker, Miss. Meiklejohn, Terry, Cooper, Ind. Kyle. Pendleton, Tex. Woodard, Cooper, Wis. Hopkins.ill. Mercer, Thomas, Cooper, Tex. Lacey, Pendleton, W. Va. The Speaker. Cousins, Hopkins, Pa. Meredith, Tyler, 11!) Democrats, 18 Republicans, 7 Populists. Cox, Hudson, Money, Van Voorhis, Ohio 1900. CONGRESSIONAL REOORD-HOUSE.' -2841 Walker, Wheeler, Ill. Williams, Ill. Woodard. Swanson, Towne. Wheeler, Woodard, Waugh, White, Williams, Miss. Talbert, Tyler, Williams, Yoakum. Wheeler, Ala. Whiting, Wilson, Ohio Tate, Underwood, Wilson, Idaho 95 Democrats, 58 Republicans., 9 Populists. Terry, Walker, Va. Wilson, S. C. JOINT RESOLUTION TO AUTHORIZE GOLD BONDS. 58 Democrats, 27 Republicans, 6 Populists. [Record, volmne 27, page 2201. H. Res. 275.] NAYS-215. On the question, Shall the resolution pass? it was decided in the negative. Acheson, Denny, Johnson,lnd. Sauerhering, YEAS-120. Aldrich, De Witt, Johnson, N. Dak. Scranton, Andrews, Dingley, Joy, Settle, Adams, Pa. Curtis, N. Y. Kribbs, Richards, Apsley, Dolliver, Kerr, Shannon, Aldrich, Daniels, Lapham, Robinson, Pa. Arnold, R. L Dovener, Kiefer, Sherman, Apsley, Davey, Lefever, Russell, Conn. Atwood, Draper, Knox, Simpkins, Babcock, De Forest, Lockwood, Ryan, Avery, Elliott, S.C. Kulp, Smith, Ill. Baldwin, Dingley, Lynch, Schermerhorn, Babcock, Erdman, Lacey, Smith, Mich. Barnes, Draper, Martin, Ind. Sickles, Baker, Md. Evans, Lawson, Snover, Bart holdt, Dunn, Ma1·vin, N. Y. Sorg, Baker, N. H. Fairchild, Lefever, Sorg, Barwig, Dtirborow, McCreary, Ky. Sperry, Barney, Faris, Leighty, Sout hard, Beckner, English, Cal. McGann, Springer, Bartholdt, Fenton, Leisenring, Southwick, Beltzhoover, Erdman, McKaig, Stevens, Bartlett, N. Y. Fischer, Lewis, Spalding, Berry, Everett, Meyer, Stone,C. W . Beach, Fletcher, Long, Sperry, Breckinridge, Fielder, Montgomery, Stone, W.A. Bennett, Fowler, . Loudenslager, Stahle, Brickner, Forman, Morse, Stone, Ky. Berry, Gardner, Low, Steele, Brosius, Geary, Mutchler, Storer, Bingham, Gibson, Mahany, Stephenson, Bynum, Geissenhainer, O'Neil, Mass. Straus, Bishop, Gillet, N. Y. Mahon, Stewart, N. J. Cadmus, Gillet, N . Y. O'Neill, Mo. Tarsney, Blue, Gillett, Mass. McCall, Mass. Stewart, Wis. Campbell, Gillett, Mass. Page, Tracey, Boatner, Graff, McCall, Tenn. Stone, 0. W. Caruth, Goldzier, Paschal, Turner, Ga. Boutelle, Griffin, McCleary, Minn. Stone, W. A. Catchings, Gorman, Patt erson, Turpin, Brewster, Grosvenor, McClellan, Strode, Nebr. Causey, Graham, Pavne, Updegraff, Bromwell. Grout, McCormick. Strong, Chickering, Gresham, Pearson, Wadsworth, Brosius, Grow, McCreary, Ky. Sulloway, Clancy, Griffin, Mich. Pendleton. W. Va. Wanger, Brown, Hadley, Mercer, Sulzer, Clarke, Ala. Grout, Pigott, Warner, Brumm, Hager, Meyer, Taft, Cobb, Mo. Haines, Powers, Washington, Bull, Hall, Miles, Tarsney, Coombs, Hall, Minn. Price, Wells, Burrell, Halterman, Miller, W. Va.. Tawney, Cooper, Fla. Hammond, Quigg, Wilson, W. Va. BurtoH, Mo. Hardy, Minor, Wis. Tayler, Cooper, Ind. Harrison, Ray, Wise, Burton, Ohio Harmer, Moody, Thomas, Cornish, Hayes, Reed, Wolverton, Calderhead, Harris, Murphy, Tracewell, Covert, Hendrix., Reilly, Woomer, Cannon, Harrison, Noonan, Tracey, Crain, Henry, Reyburn, Wright. Catchin~, Hart, Northway, Treloar, 85 Democrats, 35 Republicans. Chickermg, Hatch, Odell, Tucker, NAYS-167. Clark, Iowa. Heatwole, Otjen, Turner, Ga. Clark, Mo. Heiner, Pa. Overstreet. Turner, Va. Adams, Ky. Denson, Izlar, Perkins, Cobb, Mo. Hemenway, Owens, Updegraff, Aitken, Dinsmore. Johnson, N. Dak. Pickler, Codding, Henderson, Parker, Van V oorbis, Alderson, Dockery, Kem, Randall, Coffin, Hendrfok, Patterson, Wadsworth, Alexander, Dolliver, Kiefer, Richardson, Mich. Colson, Henry, Conn. Payne, Walker, Mass. Allen, Donovan, Kyle, Richardson, Tenn. Connolly, Hepburn, Perkins, Walsh, Arnold, Doolittle, Lacey, Ritchie, Cook, Wis. Hicks, Phillips, Wanger, A very, Edmunds, Lane, Robbins, Cooke, Ill. Hill, Pitney, Warner, Bailey, Ellis, Ky. Latimer, Robertson, La. Cooper, Fla. Hitt, Poole, Washington, Baker, Kans. Ellis, Ore1:. Lawson, Russell, Ga. Cooper, Wis. Hooker, Price, Watson, Ind. Baker, N.H. Enloe, Layton, Sayers, Corliss, Hopkins, Prince, Watson, Ohio Bankhead, Epes, Lester, Settle, Cousins, Howe, Pugh, ~1£!1gton, Bell, Colo. Fletcher, Linton, Shell, Crowther, Howell, Quigg, Bell, Tex. Funk, Little, Sibley, Crump, Hubbard, Ray, Wilbe~, Black, Fyan, Livingston, Simpson, Curtis, Iowa Hulick, Reeves, Willis, Blair, Goodnight, Loud, Smith, Curtis, N. Y. Huling, Reyburn, Wilson, Ohio Bland, Grady, Loudenslager, Snodgrass, Dalzell, Hull, Royse, Wood, Boatner, Griffin, Wis. Lucas, Stallings, Danford, Hurley, Rusk, Wright. Boen, Grosvenor, Maddox, Stephenson, Daniels, Jenkins, Russell, Ga.. Bowers, Cal. Grow, Maguire, Stockdale, Bretz, Hager, Mahon, Strait, 31Democrats,184 Republicans. Broderick, Hainer, Mallory, Strong, THE STANLEY MATTHEWS RESOLUTION, REINTRODUCED BY SENATOR Bromwell, Hall, Mo. Marsh, Swanson, TELLER, DECLARING BONDS PAYABLE IN SILVER. Brookshire, Hare, McCleary, Minn. Talbert, S. O. Brown, Harris, McCulloch, Tate, In the Senate, Januat"Y 28, 1898. Bryan, Hartman, McDearmon, Tawney, [Record, volume 31, page 1173.] Bundy, Hatch, McKeighan, Taylor, Ind. On passage, the vote was: Bunn, Haugen, McLaurin, Terry, YEAS-47. . Caminetti, Heard, McMillin, Thomas, Cannon, Cal. Henderson, Ill. McNagny, Tyler, Allen, Daniel, Martin, Shoup, Cannon, Ill. Henderson, Iowa, McRaet Van Voorhis, N. Y. Bacon, Gray, Mills, · Smith, Capehart, Hepburn, MeikleJohn, Van Voorhis, Ohio Bate, Harris, Mitchell, Stewart, Clark, Mo. Hermann, Mercer, Walker, Berry, Heitfeld, Money, TeJler, Cobb, Ala.. Hitt, Meredith, Waugh, Butler, Jones, Ark. Morgan, Tillman, Cockrell, Hooker, Miss. Money, Weadock, Cannon, Kenney, Murphy, Turner, Coffeen, Wyo. Hopkins, Ill. Moore, Wheeler, Ala. Carter, Kyle, Pasco, Turpie, Co1fin, Md. Hopkins, Pa. Morgan, Wheeler, Ill Chandler, Lindsay, Pettigrew, Vest, Cooper, Wis. Hudson, Moses, Whiting~ Chilton, McEnery, Pettus, Warren, Cox, Hulick, NeiUh Willia.ms, Ill. Clark, McLaurm, Pritchard, White, Crawford, Hull, Nort way, Williams, Miss. Clay, Mallory, Rawlins, Wolcott. Curtis, Kans. Hunter, Ogden, Wilson, Ohio Cockrell, Mantle, Roach, Davis, Hutcheson, Pence. Wilson, Wash. 29 Democrats, 13 Republicans, 6 Populists. De Armond, lkirt, Pendleton, Tex. NAYS-32. 96 Democrats, 63 Republicans, 8 Populists. Aldrich, Foraker, Lodge, Platt, Conn. AMENDMENT TO AUTHORIZE THE COIN.A.GE OF THE SILVER IN THE TREAS Allison, Gallinger, McBride, Platt, N. Y. URY TO MEET TEMPORARY DEFICIENCIES OF REVENUE. Baker, Gear, McMillan, Quay In the House, February 14.. 1.896. Burrows, Hale, Mason, Sewell, [Record, volume 28, page 1735. Bill H. R. 290!.] Caffery, Hanna, Morrill, Thurston, Cullom, Hansbrough, Nelson, Wellington, On the question of agreeing to the said Senate amendment it was decided Davis, Hawley, Penrose, Wetmore, in the negative. Fairbanks, Hoar, Perkins, Wilson. YEAS-90. 1Democrat,31 Republicans. Abbott, Culberson, Layton, Money, Aitken, Curtis, Kans. Lester, Moses, THE MATHEWS-TELLER RESOLUTION. Allen, Miss. De Armond, Linney, Neill, - In the House, Januat"Y Sl, 1.898. Allen, Utah Dinsmore, Little, Newlands, [Record, volume 31, page 1309.] Bailey, Dockery, Livingston, Ogden, Baker, Kans. Doolittle, Lockhart, Otey, On the question of the passage of the resolution, it was decided in the Bankhead, Downing, Loud, Pearson, negative. Barham, Ellis, Maddox,. Richardson, YEAS-133. Bartlett, Ga. Gamble, Magufre, Robbins, Allen, Bland, Catchings, Davis, Bell, Colo. Hartman, Marsh, Robertson, La. Bailey, Bodine, Clardy, De Armond, Bell, Tex. Hermann, McClure, Silye rs, Baird, Botkin, Clark, Mo. De Graffenreid, Black, Ga. Hilborn, McCulloch, Shafroth, Baker, Ill. Brantley, Clayton, De Vries, Bowers, Hutcheson, McKenney, Shaw, Ball, Brenner, Ohio Cochran, Mo. Dinsmore, Broderick. Hyde, McLachlan, Shuford, Barlow, Brewer, Cooney, Dockery, Clardy, Johnson, Cal. McLanrin, Skinner, Bartlett, Broussard, Cooper, Tex. Epes, Cockrell, Jones, McMillin, Spencer, Bell, Brucker, Cowherd, Ermentrout, Cooper, Tex. Kem, McRae, Stokes, Benner,Pa.. Brundidge, Cox, Fitzgerald, Cox, Kendall, Meredith, Strait, Benton, Burke, Cranford, Fitzpatrick, Crisp, Latimer, Mondell, Strowd, N. O. Berry, Castle, Cummings, Fleming, 2842 · CONGRESSIONAL RECORD-HOUSE. MAROH 13, Fowler,N.O. Lentz, Norton, Ohio Stark, Graff, Lacel, Pitney; Stone, Fox, · Lester, Osborne, Stephens, Tex. Graham, Lan is, Powers, Sturtevant, Gaine~ Lewis, Ga. Otey, Strait, Greene, Mass. Lawrence, Rab Sullowal)' Greene, Linney, Peters, Strowd, N. O. Grout, Littauer, Ro bins, Tayler, hio Griggs, Litt.le, Pierce, Tenn. Sullivan, Grow, Low, Russell, 'l'ongue, Gunn, Livingston, Plowman, Sulzer, Hager, Lybrand, Sha.ttnc, Upde~raff, Handy, Lloyd, Rhea. Sutherland, Hamilton, McDonald, Shelden, Van oorhis, Hay, Love, Richardson, Swanson, Henry, Conn. Mcintire, Sherman, Walker, Va. Henry, Miss. McClellan. Ridgely, Talbert, Henry, Ind. Mitchell, Showalter, Wanger, Henryi:;:x. McCormick, Rixey, Tate, Hicks, Morris, Smith,S.W. Ward, Hinric n, McCulloch, Robb, Taylor, Ala. Hilborn, Mudd, Snover, Weaver, Howard, Ala-. McDowell, Robertson, La. Terry, Hill, Otjen, Southwick, WeJimouth, Howard, Ga. McRae, Robinson, Ind. Todd, Hitt, Overstreet, Spalding, Wi ·ams, Pa. Hunter, Maddox, Sayers, Underwood, Kerr Payne, Sperry, Yost, Jones, Va. Maguire, Settle, Vincent, Ketcham, Pearson, Steele, Young. Jones, Wash. Marshall, Sha.froth, Wheeler,~. Knox, Perkins, Stevens, Minn. Kelley, Martin, Shuford, Williams, iss. All Republicans. King, ·Maxwell, Simpson, Wilson, Kitchin, Meelrison, Sims, Young, Va. NAYS-14.9. Kleberg, Meyer,La. Skinner, Zenor. Adamson, Cox, Lentz, Rixey, Knowles, Miers, Ind. Siar.den, Aldrich, Cranford, Lester, Robb, Lamb, Moon, Smith, Ky. Bailey, Curtis, Iowa Lewis, Ga. Robertson, La. Lanham, Newl~nds, Stallings, Baird, Davey, Linney, Robinson, Ind. ·Baker, Ill. Davidson, Wis. Little, Sauerherinl?', 106 Democra.ta, 4 Republicans, 23 Populists. Ball Davis, Livingston, Sayers, NAYS-181. Baclrhead, De Armond. Lloyd, Sha.froth, Barney, De Graffenreid, Lorimer, Shuford, Adams, Davison, Ky. Johnson, Ind. Rab, Alexander, Dayton, Johnson, N. Dak. Ro bins, Barrett, Dim;more, Loudenslager, Rims, Babcock, Dingley, Joy, Royse, Bartlett, Dockery, McCall, Skinner, Baker, Md. Dolliver, Kerr, Russell, Beach, Driggs, McClellank Slarden, Barber, Dorr, Ketcham, Sa.uerhering, Bell, Elliott, McCormic , Smith, Ill. Barham, Dovener, Kirkpatrick, Shannon, Benner, Pa. Fleming, McCulloch, Sparkman, Benton, J!'owler, N. C. McDowell, Spillht, Barrows, Eddy, Knox, Shattuc, Berry, Gaines, McLain, Sta ings, Bartholdt, Elliott, Kulp, Shelden, Bishoo, Greene, Nebr. McMillin, Stark, Beach, Ellis, Lacey, Showalter, Bland, Griffith, Stepbens, Tex. Belden, Evans, Landis, Simf:kins, McRae Belford, Faris, Lawrence, Smi h, Ill. Bodine, Griggs, Ma.xweil, Stewart, N. J. Belknap, Fenton,.·· Littauer, Smith, S. W. Botkin, Hartman, Meekison, Stewart, Wis. Bennett, Fischer, Lorimer, · Smith, Wm. Alden Bradley, Bay, 1\Iesick, Stokes, Bishop, Fletcher, Loud, Snover, Brantley, Henderson, Meyer, La. Sulzer, Booze Foote, Lybrand, Southard, Brenner, Ohio Henry, Miss. Miers, Ind. Sutherland, Bouteh, nt Foss, J\foAleer, Southwick, Brewer, Henry. Tex. Miller, Swanson, Boutelle, Me. Fowler, N. J. McCall, Spalding, Broderick, Hinrichsen, Mills, Talbert, Brewster, Gardner, McCleary, Sperry, Broussard, Howard, Ga. Moon, Tate, Broderick, Gibson, McDonald, Sprague, Brucker, Howell, New lands, Tawney, Bromwell, Gillet, N. Y. Mcintire, Steele, Brundidge, Jenkins, Norton, Ohio Taylor, Ala. Brosius, Gillett, Mass. Mahany, Stewart, N. J. Burke · .fett, Norton, S. C. Terry, Brown, Graff, Mahon, Stewart, Wis. Car~ck, Jones, Va. Ogden, Todd, . Brownlow, Griffin, Marsh, Stone, C. W. Catchings, .Jones, Wash. Osborne, Underwood, Brumm, Grosvenor, Mercer, Stone, W. A. Clardy, Kelley, Parker, N. J, Vandiver, Bull, Grout, Mesick, Strode, Nebr. Clark, Mo. King, Pearce, Mo. Vincent, Burleigh, Grow, Miller, Sturtevant, Clayton, Kitchin, Peters, Williams, Miss. Burton, Hager, Mills, Sulloway, Cochran, Mo. Kleberg, Pierce, Tenn. Wilson, Butler, .Hamilton, Minor, Tawney, Connolly, Knowles, Pugh, Zenor. Cannon, Harmer, Mitchell, 'l'ayler, Ohio Cooney, Lamb, Rhea, Capron, Hawley, Moody, Tongue, Cooper, Tex. Lanham, Richardson, Clark, Iowa Heatwole, Morris, Updegraff, Cowherd, Latimer, Ridgely, Clarke,N.H. Hemenway, Northway, Van Voorhls, 103 Democrats, 28 Republicans, 18 Populists. Cochrane, N. Y. Henderson, Odell, Walker, Mass. CoL<>on, Henry, Conn. Olmsted, Walker, Va. GOLD STANDARD BOND BANK DILL. Connell, Henry, Ind. Otjen, Wanaer, In the House, Decembe,. 18, 1899. Connolly, Hepburn, Packer, Pa. War. On the question, Shall the bill (H. R. 1) pas;;? it was aecided in the affirm- CooEer, Wis. Hilborn, Parker, N. J. Warner, ative. Cor ·ss, Hill, Payne, Weaver, YEAS-190. Cousins, Hitt, Pearce, Mo. Weymouth, Crump, Hooker, Pearson, Williams, Pa. Acheson, Dick, Lacey, Reeves, Crumpacker, Hopkins, Perkins, Yost, Ada.ms, Dolliver, Landis, Roberts, Mass. Curtis. Iowa Howe, Pitney, Young, Pa. Alexander, Dovem~r, Lane, Rodenberg, Dalzell, Howell, Powers, The Speaker. Allen, Me. Driggs, Lawrence, Runpert, Danford, Hull, Prince, Babcock, Driscoll, Levy, Russell, Davenport. Hurley, Pu~h. Bailey, Kans. Eddy, Linney, Scudder, Davidson., Wis. Jenkins, Qwgg, Baker, Emerson, Littauer, Shattuc, Barham, Esch, Littlefield, Shelden, 2 Democrats, 179.Republicans. Barney, Faris, Long, Sherman, TO INCORPORATE INTER ATIOY.A.L BANK. Bartholdt, Fitzgerald, N. Y. Lorimer, Showalter, hi the Senate, June 17~ 1898. Bingbam, Fletcher, Loud, Smith, Ill. Boreinf., Fordney, Loudenslager, Smith, H. C. [Record, volume 31, page 6076. Bill S. 3414.] Boutel, ill. Foss, Loverin£, Smi.th, Samuel W. On the question of the passage of the bill, it was decided in the affll:mative. Boutelle, Me. Fowler, Lybran , Smith, Wm.Alden Bowersock, Freer, McAleer, Southard, YEAS-2o. Brick, Gamble, McCall, Spalding, Allison, Elkins, Hawley, Platt, Conn. Bromwell, Gardner, Mich. McCleary, Sperry, Baker, Fairbanks, Hoar, Shoup, Brosius, Gardner, N. J. McPherson, Sprague, Burrows, Foraker, Lodge, Warren, Brown, Gibson, Mahon, Steele, Caffery. Mc.Millan, Wellington, Brownlow, Gill, Mann, Stevens, Minn. Cullom, GaFrDc. linger, Morgan, Wilson. Bull, Gillett, Mass. Marsh, Stewart, N. J. Davis, Hanna, Morrill, Burke. S. Dak. Graff, Mercer, Stewart, N. Y. Deboe, Hansbrough, Perkins, Burkett, Graham, Mesick, Stewart, Wis. 2 Democrats, 2! Rqpublicans. Burleigh, Greene, Mass. Metcalf, Sulloway, Burton, Grosvenor, Miller, Tawney NAYS-23. Butler, Grout, Minor, Tayler, Ohio Bacon, Heitfeld, Mills, · Sullivan, Calderh ead, Grow Mondell, Thayer, Bate, Jones, Ark. Mitchell, Teller, Cannon, Hamilton, Moody, Mass. Thomas, Iowa Chilton, Kyle, Pasco, Turner, Ca-pron, Haugen, Moody, Oreg. Thropp, Cockrell, McEnery, Pettigrew, Turpie, Chickering. Hawley. Morgan, Tompkins, Daniel, Mallory, Pettus, White. Clarke, N . H. Heatwole, Morris, Tongue, Faulkner, Mantle, Rawlins, Clayton, N. Y. Hedge, Mudd, Underhill, Cochrane, N. Y. Hemenway, Needham, Van Voorhis, 17 Democrats, 4 RepuLlicans, 2 Populists. Connell, Henry, Conn. O'Gradv, Wachter. In the House, Decembe1· 16, 1898. Cooper, Wis. ~!if.burn, Olmsted, Wadsworth, (Record, volume 32, page 265.] Corliss, Otjen, Wanger, On the que.3tion of the passage of the bill it was decided in the negative: Cousins, Hitt, Overstreet, Warner, Cromer, Ho.ffecker; Packer, Pa. Waters, YEAS-103. Crump, Hopkins, Parker, N. J. Wat on, Acheson, Brown, Codding, Dolliver, Crumpacker, Howell, Payne, Weaver, Dorr, Curtis, Hull, Pearce, Mo. Weeks, Alexander, Brownlow, Connell. Cushman, Jack, Pearre, Wer.mouth, Barham, Brumm, Coo~r, Wis. Eddy, Barrows, Bull, Cor · s, Ellis, Dahle, Wis. Jenkins. Phillips, White, Bartholdt Burlejgh, Crump, Faris Dalzell, Jones, Wash. Powers, Wilson, N. Y. Belford, Burton, Crumpacker, Fletcher, Davenport, S. A. Kahn, Prince, Wright, Bingham, Butler, Dalzell, Gardner, Davidson, Kerr, Pugh, Young, Pa. Booze, Capron. Davenport, Gibson, Dayton, Ketcham, Ray Rromwell, Clark, Iowa Dick, Gillet, N. Y. Denny, KIIOX, Reeder, Brosius, · Olarke,N.H. Dingley, Gillett, Mass. 11Democrats,179 Republicans. 1900. CONGRESSIONAL ~ RECORD-HOUSE .. 2843 NAYS-150. Dahle, Wis. Hedge, Marsh, Sherman, · Adamson, De Armond, Little, Ryau,Pa. Dalzell, · Henry, Conn. Mercer, Showalter, Allen, Kr. De Graffenreid, Livingston, Salmon, Davenport, S. A. Hepburn, Mesick, Smith, H. C. Allen, Miss. De Vries, Lloyd, Shackleford, Davidson, · Hill, Metcalf, Smith, S. W. Atwater, Dinsmore, McClellan, Shafroth Dayton, ·Hoffecker, Miller, Smith, Wm. Alden Bailey, Tex. Dougherty, McCulloch, Sheppard, Denny, Howell, Minor, Spalding, Ball, Elliott, McDowell, Sibley, Dick, Hull, Mondell, Sperry, Bankhead, Epes, McLain, Sims, Dolliver, Jack. Moody, Mass. Sprague, Barber, Finley, McR~e. Slayden, Dovener, Jenkins, Moody, Oreg. Stevens, Minn. Bartlett, Fitzgerald, Mass. Maddox, Small, Driggs, Jones, Wash. Morgan, . Stewart, N. J. Bell, Fitzpatrick, May, Smith, Ky. Driscoll, Joy, Mudd, Stewart, N. Y. Benton, Fleming, Meekison, Snodgrass, Eddy, Kahn, Needham, Stewart, Wis. Berry, Foster :Meyer, La. Sparkman, Esch, Kerr, O'Grady, Sulloway, Bradley, Fox, Miers, Ind. Spight, Faris, Ketcham, Otjen, Tawney, Brantley, Gaines, Moon, Stark, Fitzgerald, N. Y. Knox, Overstreet, Thayer, Breazeale, Gaston, Muller, Stephens, Tex. Fletcher,. Lacey, Packer, Pa.. Thropp, Brenner, Gilbert, Naphen, Stokes, Foss, Landis, Parker, N. J. • Tompkins, Brewer, Glynn, Neville, Sulzer, Fowler, Lane, Payne, Tongue, Brundidge. Gordon, Newlands, Sutherland, Freer, Lawrence, Pearce, Mo. Underhill, Burke, Tex, Green, Pa. Noonan, Swanson, Gamble, Levy, Pearre, Vreeland, Burleson, Griffith, Norton, Ohio Talbert, Gardner, Mich. Linney, Phillips, Wadsworth, Burnett, Griggs, Norton, S. C. Tate, Gardner, N. J, Littauer, Powers, Wanger, Caldwell, Ball, Otey, Taylor,.rila. Gill. Littlefield, Prince, Warner, Carmack, Hay, Pierce, Tenn. Terry, Gi1let, N. Y. Long, Pugh, Waters, Chanler, Henry, Miss. Polk, Thomas,N.C Gillett, Mass. Lorimer, Ray, Watson, Clark, Mo. Henry, Tex. Quarleflil Turner, Graff, Loudenslager, Reeder, Weaver, Ulayton, Ala. · Howard, Ransde , Underwood, Graham, Lovering, Reeves, Weeks, Cochran, Mo. .Jett, Rhea, Ky. Vandiver, Grout, Lybrand, Rodenberg, White, Cooney, Johnston, Rhea, Va. Wheeler, Ky. Grow. McAleer, Ruppert, Wilson, N. Y. Cooper, Tex, Jones, Va. Richardson, Williams,J.R. Hamilton, McCleary, Russe IL Wise, Cowherd, Kitchin, Ridgely, Williams, W. E. Haugen, McPherson, t>cudder, Young. Cox, Kleberg, Riordan, Williams, Miss. Hawley, Mahon, Sbattuc, Crawford, Kluttz, Rix:ey, Wilson, Idaho Heatwole, Mann, Shelden, Crowley, Lamb, Robb, Wilson, S. C. 9 Democrats, 157 Republicans. Cummings, Lanham, Robbins, Young, Va. Cusack, La.timer, Robinson, Ind. Zenor, .NAYS-120. Daly, N. J. Lentz, Robinson, Nebr. Ziegler. Adamson, Da•enport, S. W. Lewis, Ryan,N. Y. Davenport, S. W. Lester, Rucker, Allen, Ky. De Armond, Little, Ryan, Pa.. Davis, Lewis, Ryan, N. Y. Allen, Miss. De Graffenreid, Livingston, Salmon, 142 Democrats, 5 Populists, 3 Silverites. Atwater, De Vries, Lloyd, Shafr&th, Bailey, Tex. Dinsmore, McClellan, Sheppard, SA.ME BILL. Ball, Dougherty, McCulloch, Sims, In the Senate, February _15, 1900. Bankhead, Elliott, McDowell, Slayden, On the question shall the bill (H. R. 1) pass, it was decided in the affirma· Barber, Finley, McRae, Smith, Ky. tive. Bartlett, Fitzgerald, Mass. Maddox, Snodgrass, YEAB-48. Bell, Fleming, :May, Sparkman, Bellamy, Foster, Meekison, Stark, Aldrich, Fairbanks, Lodge, Quarles, Benton, Gaston, Meyer, La. Stephens, Tex. Allison, Foraker, McBride, Ross, Berry, Gilbert, Moon. Stokes, Beveridge, Foster, Mccomas, Scott, Brenner, Glynn, Muller, Sulzer. Burrows, Frye, Mccumber, SeweIL Brewer, Green, Pa.. Naphen, Sutherland, Caffery, Gear, McMillan, Shoup, Brundidge, Griggs, Neville, Swanson, Carter, Hale, Mason, Simon, Burlesou, Hay, Noonan, Talbert, Clark, Wyo. Hanna, Nelson, Spooner, Taylor, Ala.. Cullom, Hansbrough, Penrose, Thurston, ~~fan~~b, I~~;; ~~~· ~t:;:m, S. C. Terry, Davis, Hawley, Perkins, Wetinore, Campbell, Howard, Pierce, Tenn. Thomas, N. C~ Deboe, Boar, Platt, Conn. Wolcott. Catchings, Jett, Polk, Turner, Depew, Kean, Platt, N. Y. Chanler, Johnston, Quarles. Underwood, Elkins, Lindsay, Pritebard, Clark, Mo. Kitchin, Ransdell, Vandiver. 2 Gold Democrats, 44 Republicans. Clayton, Ala. Kleberg, Rhea, Ky. Wneeler,Ky. Cochran, Mo. Kluttz,. Rhea, Va. Williams, J. R. NAYS-29. Cooney, -Lamb Richardson, Williams, Miss. Bate, Culberson, McLaurin, Taliaferro, Cowherd, Lanh~m, Rix:ey, Wilson. Idaho. Berry, Daniel, Martin, Teller, Cox, Latimer, Robb, Wilson; S. C. Butler Harris, Money, Tillman, Crawford, Lentz, Robinson, Nebr. Zenor, Chandier, Heitfeld, Morgan, Turley, Daly,N.J. Lester, Rucker, Ziegler. Chilton, Jones, Ark. Pettus. Vest. Clark, Mont. Jones, Nev. Rawlins, 114 Democrats, 4 Populists, 2 Silverites. Clay, Kenney. Stewart, Mr. RICHARDSON. I yield twenty minutes to the gentleman CockreIL McEnery, Sullivan, from Georgia [Mr. LEWIS]. · · 23 Democrats, 1 Republican, 3 Silverites, 2 Populists. Mr. LEWIS. Mr. Speaker, in this bill the committees of the CO~"'FERENCE REPORT ON SAME BILL. two Houses have reached a most happy solution of our financial In the Senate, March 6, 1900. difficulties. We have here two bills in one. The House has vir On the question of agreeing to the report and passing the bill (H. R. 1) it was decided in the affirmative. tually agreed to the Senate bill, and the Senate has virtually agreed YEAS-44. to the House bill. The bill now presented to us has six distinct Aldrich, Elkins, Hoar, Platt, Conn. features. I shall give the House credit for three of them and the Allison, Fairbanks, Lindsay, Platt, N. Y. Senate credit for three. The Senate, always ambitious and anx Baker, Foraker, Lodge, Proctor, Bard, Foster, McBride, Quarles, ious to be original, was determined to do as much on this currency Beveridge, Frye, McComas, Ross, bill as the House. Consequently this bill may be divided into sil'. Burrows, Gallinger, Mccumber, Scott, sections, giving each body credit for three. In the first section Carter, Gear, McMillan, Shoup, Clark, Wyo. Hale, Mason, Simon, the House declares for a single gold standard. The second gives Cullom, Hanna., Nelson, Thurston, authority to the Secretary of the Treasury to issue bonds at any Davis, Hansbrough, Penrose, Wellington, and all times, that he may protect gold balances in the Treasury. Depew, Hawley, Perkins, Wetmore. The third is the division of issue and redemption, a separate divi 1Democrat,43 Republicans. sion in the Treasury Department. NAYS-26. Now, for the Senate features of the bill. The Senate, anxious Allen, Clay, Kenney, Sullivan, Bacon, Cockrell, McLaurin, Taliaferro, to do something that would be, possibly I may term it extreme, Bate, Culberson, Martin, • Teller, has presented these special features: First, the funding of the pub Butler, Harris, l\for~an, Tillman, lic debt; second, the delegating of all power of issuing money to Chandler, Heitfeld, Pettigrew, Turner. Chilton, Jonas, Ark. Pettus, the national banks, and third, the comedy of declaring always a Clark, Mont. Jones, Nev. Rawlins, willingness to accept international bimetallism. 21 Democrats, I Republican, 2 Silverites, 2 Populists. · Mr. Speaker, when we go to one of our theaters to see a tragedy, In the House, March 13, 1900. we see, first, the star actor sadly enter; tben we see the villain On the question, Shall the conference report on the bill H. R.1 be adopted? come in; then follow other characters calculated to add to the it was decided in the affirmative. gloom; but finally, when we begin to find ourselves between sad YEAs-166. ness and madness, to even up the play and relieve the tension upon Acheson. Barney, Brown, Clarke, N. H. the feelings of the audience the comedian comes out to put them Adams, Bartholdt, Bull, Clayton, N. Y. into a more cheerful mood. Aldrich, Bingham, Burke, S. Da.k. Cochrane, N. Y. Alexander, Bishop, Burkett, Connell, Now this bill reminds me very much of such a. proceeding, be Allen, Me. Bou tell, Ill. Burleigh, Corliss, cause after this serious, this far-reaching measure, this, I might Babcock, Bowersock, Burton, Cousins, Bailey, Kans. Brick, Butler. Crump, almost say, tragedy of which the American people have been the Baker, Bromwell, Calder head, Crumpacker, victims, the Senate at last brings out the comedian in the clause Barham, Brosius, Cannon, Curtis, declaring for international bimetallism. This is indeed a comedy; 2844 ,CONGRESSIONAL RECORD-HOUSE. MARCH 13, it is a farce. It would have been better, it seems to me, instead By this bill you are given no ,more authority than the authority of putting this provision into the body of the bill, that the_ysbould to do what Secretary Carlisle did when, in 1893 and 1894. in that have rolled the bill up and then placed a label on the outside, saying, great panic, he sold $262,000,000 worth of bonds, for which the This clause for the declaration of international bimetallism is our counh·y condemned him, he being condemned not only by the \Ote-catcher. Or, rather, itmighthave been better for them to have Democratic party but by our Republican friends joining in that waited for the national convention at Philadelphia and there have condemnation of Secretary Carlisle's action. There is a slight embodied this provision in their platform as one of the burning difference, and that is this, that Secretary Carlisle sold those and living issues. bonds to private bankersinNewYork, whileunderthis billyou-pro Mr. Speaker, I was very much amused this morning in listen pose to sell them only to the national bankers of the United States. ing to the gentleman from Indiana. He ignored the bimetallic I will not touch upon all the featuTes of the bill. I expect to clause; he said, in substance, that it means nothing. Then a confine myself virtually to the six principal provisions. But I do great body like the United States Senate has put into this bill say this in general terms, that the bill gives the Secretary of the something that is afisolutely meaningless. · Treasury too much power. It gives him power to impound this Now, I wish to refer to a remark of the gentleman fromlowa money, to holcl up the United States notes and other money. But [Mr. DOLLIYER], a remark which impressed me very much at the I will pass from that and speak of the main features of the bill. time, because I thought that the gentleman was speaking with too Now, why did the 8enate -p1ace in this bill this section declaring much enthusiasm. As the House is aware, this gentleman is one for the funding of tbe United States internst-bearing debt? There whom our Republican friends are in the habit of putting forward are about 5850,000,000 of United States bonds that do not mature to close their debates, especially when we have a serious question until 1904, 1905, and, I believe, 1907 or 1908. Here is a debt that before us. is not due until from five to eight years hence, and yet the Senate I was very much impressed with the statement I am about to places in a currency bill a provision to pay this debt a long time read; it has been dwelling in my mind ever since, because I know before its maturity. It reminds me of the old adage which, I be the gentleman to be al ways enthusiastic for his party, whatever it lieve, human experience bas demonstrated to be true, that there may do. Now, this strong declaration which the gentleman made are two bad paymasters, one who never pays hi.s debts at all and in favor of a single gold standard was made at the time most en one who pays·them. t?o soon. [Applause on the Democratic side.] thusiastically. I want to quote what the gentleman said! and then We occupy the position of the bad paymaster who pays his debts I want to surmise, if I can, what he would now say if he would too soon. speak on this bill. There are many reasons why this was inserted in tbe Senate Mr. Srns. May I ask the gentleman a question? bill. One is to give the national banks indefinite power-in other Mr. DoLLTVEU. Certainly. words, to extend their .Power for at least thirty _years. Mr. SIMS. With your present light and information before you, are you Another istoplace a debtuponthe peoplethatcan not be repaid now in favor of opening the doors of the mints to the free coinage of silver under thirty years. In one sense it seems to me a good omen, be by international ag~eemen.t? . Mr. DOLLIVER. No, sir; I am not. I have joined in the last experiment cause I have become enthusiastic recently in behalf of the Demo with silver, on an international basis or otherwise. fApplause on the Re cratic party. Things are growing brighter and brighter each day publican side.] I have been .humbugged -as .long as calculate to be, if I for that party, and this tells me that the wise Senators over at the know it. other end of the Capitol smell danger ahead, and so they have Mr. DOLLIVER has been "humbugged" long enough; 'but the said, "We will fix these national banks and this bonded in Senate now proposes to "humbug" its members and to go out debtedness upon the people so that it can not be changed for the and continue to "humbug" the American people. · next thirtyyears." It is unreasonable to go four or five years Mr. BROSIDS. Will the gentleman allow me to conect a ahead and pay off a debt before its maturity. Why not follow in statement which I know he makes inadvertently? the footsteps of the past? Mr. LEWIS. Certainly. In 1881, when Congress, after ·considerable discussion, failed to Mr. BROSIDS. The gentleman from 1owa [Mr. DOLLIVER] in pass an act refunding the public debt then due, Secretary Windom the speech to which my friend refers did not use the word "hum met the situation by issuing all the surplus funds he had to retire bugged." If the gentleman will refer to the RECORD he will find bonds, and then offered to continue the residue bearing 6 per cent that the language of the gentleman from Iowa was that ·he had interest, at 3t per cent, payable at the pleasure of ·the Govern had his last whirl with silver. • ment. Thus the Secretary was able to continue at 3t per cent l\fl'. LEWIS. I beg the gentleman's pardon. I know he-wants about $178,000,000, leaving only $24,000,000 to .be paid off out of to be fair and right; but what J have read was copied from the surplus reveIIUes. The Secretary then applied the same method CONGRESSIONAL RECORD. . to the 5 peTcents with equal success. There is no apparent rea Mr. BROSIDS. I state my Tecollection of tb.e language ·used son why this .precedent should not furnish a practical rule of ac by the gentleman from Iowa, for l beard 1t. tion for the existing situation. Mr. LEWIS. If l had the time I would look'the matter np; but That is a suggestion taken from a banker's magazine, a paper at present I must insist that I am correct, because what l have which is in favor of the national banks and yet-which must con Tead has been copied word for word from the .RECORD, and if the demn the action of ihls body in passing this funding bill at this gentleman will look it up he will find it the:re. time. Mr. BROSIUS, Well, I am not abfo to say from recollection 1 congratulate the Republican party to-day upon the op'Portu what was in the RECD.RD. Myrecollection is of the words as they nity which is presented to them, and I am astonished that they do fell from the lips of the gentleman from Iowa [Mr. DOLLIVER]. not take advantage of it. They have, by this bill, legislated sixty I sat within 3 feet of rum., ~nd I recollect what he said. million to seventy million dollars profit to th.e owners of these Mr. LEWIS. I have taken the words exactly from the RECORD. bonds. They should herald to the country the wealth that has Mr. BROSIUS. The matter can '.be looked up, and my-friend been brought 'to the United States by this act·of legislation. can correct it if he is wrong. If not, it will stand. I say you have given $60,000,000 to $70,000,000 profit . on these Mr. LEWIS. We must cOine to-the conclusion, then, thatthis bonds. I find to~day that these 2 'Per cent bonds, which are not .section is evidently meaningless. now issued, ·have advanced offers for them at 6 per cent premium. Now, I do not propose to discu-ss the House measure to any Where does this great profit of from sixty to seventy million dol great extent, as I ha-ve already spoken upon it, as have many lars go? The Government will not get any return in taxation or other members of this House; hut I do say now, as l said in De anything of that kind. The Treasury will receive no return from • cember, that this new department :in the Treasury,Jrn.own·as the it, because it goes to the owners of the United States interest issue and redemption department, is useless, It i·eminds me of bearing bonds. Who owns these interest-bearing bonds? A very a weak vessel on a calm sea, which can sail beau:ti:fully when small percentage of the American people. Indeed, the corpora everything is smooth, bnt let the storms come and the weakened tions own most of these bonds, and by far the larger part of them vessel will sink. lt is the same way with this new division. It are owned by the national banks. It is to them that the great is meaningless and amounts to nothing in time of :financial storms profit goes. and panics. In that sense it means nothing, but it means a great Evidently this section of the Senate bill declaring for the refund deal in anotheJ.'. · ing of the debt was "daddied" by very conspicuous parties. I It requires under this bill $150,000,000 of gold to be at all -times have heard so much in this House about who is the father of this in the 'rreasnry, when heretofore we have only required $100,- bill and who is the father of that bill, that when I see a bill 000,000 in gold, which we have found to be ample to meet all coming in here I become suspicious at once. I say to myself, business purposes and to protect n'3 at all times. Having this "Who has drawn that bill, in whose interest is it drawn?" and I am new department designed to protect the Treasury Department in suspicious at all times. While I make no charge, it seems to me its gold balances, because the bill says that all -money is -redeemed almost certain that the national banks had a great deal to do in in gold, therefore when any person takes the national-bank notes the d1·awing up of this bill before us. My reason for saying that and the Treasury notes and pTesents them to the Treasury De is because of this new issue of bonds, amounting to at least $850,~ partment for exchange in gold, the Treasury Department must 000,000, which can not be paid off in thirty years. furnish the gold for those notes, and the only way to get that gold The bonds bear a low rate of interest it is true, and I say that is 'by this section, which permits the Secretary of the T.reasury to they are made for the national banks for this reason. Individuals sell United States bonds at any and all times to purchase gold, do not want 2 per cent bonds when they are at a 6 per cent 1900. CONGRESSIONAL RECORD-HOUSE. 28.45 premium. These bonds to-day would cost $1.06, and no private in with the national banks or out of the Treasury. The Secretary dividual would want to put his money into 2 per cent bonds when says j;hat he does not want to iniierfere with the :financial condi he would have to wait three years before he could draw any in tion of the country, and consequently he will divide it up and take terest from them at all. Therefore he would be slow to pay this part of it out of the Treasury and part of it out of the national 6 per cent premium on them. But the national banks are glad to bauks. get them. That is only a side issue, a mere incident with them, It is a fact that he to-day would not dare to take this money because there are so many revenues coming from them that they out of the national banks, We can not afford to-day to have a do not place much importance upon the interest paid upon these panic, and if you were to draw $50,000,000 from the banks in order bonds. to pay that interest you would have a panic in the country; and Under this new law they are relieved of taxes largely. Hereto while Mr. Gage hesitates to take the money out of the banks to fore they have paid one-half of 1 per cent semiannually. Now pay this interest, I am surprised to read such lines as these under they pay one-quarter of 1 per cent semiannually on the money those circumstances. Listen. I quote the Financial News, from issued upon the strength of the bonds on the circulation. There the great financial center, New -York City: fore the national banks will draw 1t per cent interest in this in .AMERICAN MONEY FOR BRITISH WAR BONDS-SUBSCRIPTIONS IN THIS CITY direct way, provided they issue circulation up to the amount of UP TO THE CLOSE OF BUSINESS YESTERDAY .AGGREGATED $50,000,000-FIN.A.N the holding of their bonds. That is the first profit which the CIERS IN SYMPATHY-NEW YORK CAPITALISTS WILL SEIZE THE OPPOR TUNITY TO MANIFEST THEIR FRIENDLI~TESS TO ENGLAND-THIS CITY THE national banker gets, which is merely incidental. The second FINANCIAL CENTER-TT IS UNDERSTOOD THAT OFFERS H.A VE BEEN RE· profit he gets in this way: The Government permits him to issue CEIVED FROM THE UNITED STATES TO TAKE UP THE WIIOLE ISSUE, the full face value of the bonds in the bank's own currency. WHICH IT IS EXPECTED WILL BE OOVERED TEN TO TWENTY TI.MES. The bank is able to loan out this currency at market rates of in Great Britain's big war loan will be many times over sub::>cribed. It is ex- terest. That is the second profit; but here is the greatest profit pected now that one-half of the total amount of the lo!ln will be subscribed in this country. of all. On account of owning these bonds they can come here to It is not expected, however, that anything like that amount of allotments the Treasury and secure from the Treasury Government deposits will bo received in this country. It is said to be the intention of the Bank of equal to the amount of the bonds deposited, which they can use England to distribute the bonds as far at pos.sible among the English people, both at home and in the colonies. The loan will be more than taken in Lom in their own business. That is the third profit that the national l::ard street. banks get. Consequently they will be able to take these IJonds, SubscrilJtions up to the close of business yesterday had aggregated and I dare say would be glad to take them without any interest $50,000,000 ~this ci~; that amount h~d .been accounted for: b~J. P . .Morgan & CC?. A fair q~ntity of these subscriptions wer~ from patriotic Englishmen at all, for the purpose of securing circulation and for the purpose outside of the city; many of them came by mail from Boston, Baltimore, of securing United States deposits. Philadelphia, and other Eastern cities. I will state to my friend from Pennsylvania [Mr. BROSIUS] that It is expected that many of the local financial institutions will subscribe I read a transcript from the RECORD a few moments ago, but1 let for the purpose of emphasizing the friendliness which they feel toward Eng land in a business way. The finanC'.es of the two countries were never more me read from the RECORD, kindly handed me by a friend, I know closely allied than at the present time. we want to be together. Fo1-eign bankers and exchange authorities say that it is yet too early to talk Mr. BROSIUS. That is right. about the possible effect upon the foreign exchange market of American sub scription to the British war loan of £00,000,000. Everything depends, they l\Ir. LEWIS (reading)- say, upon what proportion of the loan is allotted here, and the consensus of Mr. SIMS. May I ask the gentleman a. question? opinion seems to be that it will be comparatively small. But even should the Mr. DOLLIVER. Certainly. allotment be £.5,000,000 or more, it is not believed that it would have any per Mr. Srns. With your present lights and information before you, are you ceptible effect upon the exchange market asidefrom the sti:ffen.ing of rates a now in favor of opening the doors of t:tre mints to the free coinage of silver by little. international agreement? Vice·President Hepburn, of the Chase National Bank, said yesterday: Mr. DOLLIVER. No, sir; I a.m not. I have joined in the last experiment "I have not heard of any large subscriptions to the British war loan sofa.r with silver,onan international basis or otherwise. [Applause on the Repub beyond the Mutual Life Insurance Company's bid, but expect that a fairly lican side.] I have been humbugged as long as l calculate to be, if I know it. large amount of the bonds will be taken here. We probably shall subscribe ourselves, but there is no immediate hurry. The effect of the subscriptions Mr. BROSIUS. l't{r. Speaker, it turns out on investigation that undoubtedly will be a tendency toward higher local money rates, but not to a serious extent. The payments, in my judgment, are more likely to be re my friend wa8 right and I was in error. I desire to apologize to flected in the foreign exchange market." him for the interruption. , Mr. LEWIS. You need not apologize, because I know my And again another loan by the beneficiaries of the Treasury de friend only desired to be right about the matter. posits. I quote from the American Banker of recent date: Mr. BROSIUS. I should not have interrupted you if I had An interesting incident of the week was the announcement of the negotia tion of a Russian Government loan in New York City. The facts a.re that a not thought I was right. · syndicate of banks and insurance companies have a!n'eed to advance the Rus The SPEAKER pro tempore. The time of the gentleman has sian. Government $25,000,000 on a. ra!lway l!lortgage bearing 4 per cent interest. expired. J.P1erpont Morgan& Co., theNationalCity Bank, theNewYorkSecurityand Mr. RICHARDSON. I yield the gentleman five minutes addi Trust Company, and the New York Life Insurance Company are said to be tional time. the principals concerged in this transaction. The SPEAKER pro tempore (Mr. BOUTELL of lliinois), The Here, then, we see, Mr. Speaker, that the Secretary of the Treas gentleman is recognized for five minutes. ury is afraid and fearful about drawing money from the national Mr. LEWIS. It seems surprising to me, and is a fact we ought banks, and they are subscribing to British war bonds and making to realize, that one-half of the money, one-half of the balance of Russian railroad loans. Is it not a strange condition of affairs money of the United States, is now deposited in the national that we may not draw the money from the national banks to pay banks of this country. We have on hand about S300,000,000. the interest, the unaccrued interest, on these bonds, and yet these Half of that is deposited now in the national banks, which are same men are sending our money into foreign countries and loan using it free, without any interest; and yet I was surprised to in[.? it to them? read the New York ·bank statement, which comes out on Friday, I make the statement here boldly that the last panic, or nearly which showed that the banks of that city had only $5,000,000 over a panic-yes, indeed a panic, because of the large amount of and above the legal requirements, and still they were using all money that had to t>e paid out-was brought about by the national this money of the Government. I was surprised to read how banks of this country, and I charge the Administration with being closely they have this money loaned up. Here is the statement coer~ into placing this money with these banks that they might from the Secretary of the Treasury, as it appeared in the Wash loan it out. ington Post: They intended to bring on a boom, and they were placing this mo~ey among the trusts and combines, many of which had no NEW FINANCIAL BILL-SECRETARY GAGE OUTLINES BIS PLAN FOR CARRY· ING IT INTO EFFECT. substantial backing to them, and if the stocks had gone up on W .A.SHINGTON, March 9, 19()(). which the banks had loaned their money and the money they had AttheCa.binetmeetingto-da.ySecretaryGageontlinedhisplanforcarrying gotten from the Treasury they would have made a great deal of into effect the new financial bill, which, it is expected, wH1 pass the House money; but when the banks saw that all the money they had and next Tuesday and be approved by the President soon thereafter. The Sec the Treasury Department had furnished was in danger, they got retary explained that in all probability from 35to45 per centof the outstand the Treasury to come to the rescue, because they said, '' If you do ing bonds, which may be refunded under the ~ew law, will be presented for exchange within a. comparatively short time. This would involve cash pay not we will-have a tremendous panic," and the Secretary of the ments as premiums to the holders of the old bonds, a.mounting to from Treasury did go to their rescue by buying $22,000,000 unmatured $30,000,000 to $35,000,000. The Secretary's purpose, as stated to the Cabinet, is to create as little bonds and by anticipating the interest payable on the 1st day of financial disturbance as possible in the settlement of premium accounts. January on all United States bonds, which amounted to many The question whether the cash to be pa.id as premium shall come from the millions of dollars. Treasury, the deposit-Ory banks, or both, depends for its solution largely I do not criticise Secretary Gage for it. I think it was right; upon conditions which can not now be foretold. The new bonds will be dated April 1, and the amount of premium to be paid on the old bonds will be I think it was his duty to save the country from a panic, but I calculated from that date, the rate in amounts being the same. These plans desire to criticise the condition that this country has got in that meet with genera.I approval. we have got to go to the rescue of t4e banks to save the country. He says that it will require $30,000,000 or $35,000,000 to pay un [Loud applause on the Democratic side]. accrued interest on the funded bonds due five to eight years hence. Mr. FITZGERALD of Massachusetts. Mr. Speaker, I will use Where shall we take it from? Out of the deposits which are made the time allotiied me by the House to dwell upon the national • 2846 CONGRESSIONAL 1RECORD-H0USE. MARCH 13, banking feature of the present bill, particularly the so-called re people than to see that the money of the nation, the very lifeblood of funding section. When the bill passed the House no mention of business and trade, is surrounded with proper safeguards? People any such prov1sion was included, and these sections, which give ought to control money channels, not banks. Recent disclosures millions of the money of the people of the United States to those in Boston indicate the positive danger of this method of doing fortunate enough to hold Government bonds, as well as increase business. Three national banks have either failed or suspended, the power of the national banks, were added in the Senate. Re carrying many reputable business houses to the wall in that city garding this feature of the bill I wish to quote the opinion of the during the past six months. The president of one of these banks financial writer of the New York Sun, Matthew Marshall. Neither has recently been indicted on 25 counts, involvmg stealing of more Mr. Marshall nor the New York Sun are accused of Democratic than s1,ooo,ooo. tendencies nowadays. Speaking of this feature of the currency These thefts, consisting of false entries and misapplication of bill he said, on February 16: funds, continued for months, during which time the bank affairs None of the considerations just mentioned apply, however, to the scheme had been examined by the bank examiner and nothing found now under consideration by the United States Senate, of offering a bonus of wrong, and if it were not for the fact that it was during the ex $85,000,000 to the present h olders of $850,000,000 of the national debt for the privilege of extending that debt thirty years at 2 per cent per annum. The amination of another bank that the matter developed nobody can scheme fa for the benefit n either of the present creditors of the Government tell how far the stealings would have gone and how much more nor of the people. On the contrary, it i<> avowedly intended to aid the na money would have been misappropriated. _ tional banks in perpetuating their usurpation of the function of supplying, for their own :Qrofl.t, the paper money of the country. _ I think it proper at this time, when the great benefits of our If adopted, it will give them 2 per cent per annum, less a. tax of one-half national banking system are being extolled, to speak the truth per cent for issuing circulating notes, which the Government is both directly concerning conditions as we find them. What protection has the and indirectly to guarantee, when it might just as easily issue the notes average depositor under the present system of supervision? Is it itself, and thus avoid paying the banks for the service of lr per cent per annum on $!!50,000,tJOO, or $12,750,lXX> a year. It IB the advocacy of such meas not a well-established fact that the deposits of the national banks ures that helps to make the banks unpopular-with the community. Their are used by its officers to raise or depress the stock market? legitimate business of lending money is not calculated to create friends for Does not every member of this House know that the directors them, fince the debtor always regards his creditor a.s more or le3S his enemy, but when in addition they invade the domain of the Government and attempt use a great deal of favoritism in granting loans? I venture the to control the supply of t he country's circulating medium, they render them assertion if the true history of the national banks, the loans they selves odious to all citizens without distinction. have made, and the character of the securities upon which loans What reason in the world exists for this favoritism to the bond have been negotiated were known to the people of this country, holders and national banks, and why should the Government at the national- banking system would soon disappear, condemned tempt to refund millions of dollars for its bonds at this time by by . al~ cl;i.sses o~ people. . · _ anticipating interest? I saw in one of the New York papers the Mr. Speaker, I think the national banks have too much power other day that the new 3 percents were already quoted at 107. already, and the sooner the American people appreciate this fact The people of this country have an opportunity to witness another by electing to power a party which will transfer to the Govern practical illustration of the hold the national banks have on the ment the function of issuing the money of the people the better present Administration. for this country. f Applause.] Consider for a moment, Mr. Speaker, the development of the Mr. HILL. Mr. Speaker, I desire to offer for convenient refer past few months, showing the intimacy of ~he national banks of ence by the members of the House a few tables, collated and the country with the Treasury Department. and then wonder if prepared from the report of the Director of the Mint for 1899, and you will at the cry of indignation rising in all parts of the country. other sources. Mr. Stillman. president of the National City Bank, under date of Table No. 1 shows the monetary systems and approximate stocks April 8. writes Secretary Gage: of money in the principal countries of the world on January I, 1899. As y ou have doubtless noticed in the press, the money market there has Table No. 2 shows the approximate stocks of money and the per been quite unsettled the past week. We have loaned very liberally, but at capita in the thirteen principal commercial countries in 1873, and such rates as would tend to force a liquidation in highly speculative securi ties. l trust this has been accomplished and the declines which have taken a similar showing of the same countries on January 1, 1899. place will have a wholesome effect. Table No. 3 shows the changes in the monetary stock of these At the time this letter was written the bank, acting as a national same thirtflen countries. depository, had more than ten millions of United States money in For Tables Nos. 1, 2, and 3, see pages 4, 5, 6, and 7.1 its vaults, by the use of which, although paying no interest to the ffind nothing by which I can make a comparison with reference Government, it forced a liquidation which ruined hundreds of to all the countl'ies included in Table No. 1, but the footings of men and business houses, and brought ruin and destruction to Nos. 2 and 3 show that in the thirteen countries named therein many a home. By the use of the same tactics, only a short whiJe there has been since 1873 and to January 1, 1899, a net increase of ago in the city of Boston, this bank, through its agencies in that monetary stock of $2,596.700.000. . _ city. forced a decline in copper and other securities which has Second. This increase has been much greater than the increase paralyzed business in a great many branches. This National City of population, the per capita stock onJanuaryl, 1899, being$16.32, Bank is known as the Standard Oil bank, and to show why the against $14.54 in 1873. · Attorney-General of the United States, sworn to perform the du Third. These countries had in 1873- ties of his office, refuses to enforce the provision of the anti-trust Gold ------_-- --··---· ------$1, 209, 800, 000 law against this corporation, I quote the letter which passed be Silver __ ------· ------__ _ 1, 057, 700, 000 tween Mr. Hepburn, its vice-president, and Secretary Gage: THE NATIONAL CITY BANK OF NEW YORK, New York, J une 5, 1897. Total specie __ .------·· ______-----.___ 2, 267, 500, 000 MY DEAR MR. GAGE: The National City Bank of thlli city, of which I r e Uncovered paper __ . ______----•... ______2, 322, 500, 000 cently became vice-president through the consolidation of the business of the Third National witn it, IB on e of the banks designated as a United States de pository, and I write to r equestthatin any changeswhichmaybemadeunder Counting gold and silver both as "nltimate- the Adminmtration we may not be disturbed in this respect. redemption,, money, both together in 1873 were We should like to r emain a. United States depository as at present. Of 49.04 per cent of the whole monetary stock, but course the bank IB verr. s trong, and if you will take the pains to look at our list of directors you will see that we also have very great political claims in on January 1, 1899, these same countries had, of view of what was done dm·ing the canvass last year. gold------~------·------4,182,100,000 Yours, Tery truly, A. B. HEPBURN. Hon. LYMAN J. GAGE, Silver ____ - ____ ------_. ____ ---- ·----- 1, 774, 900, 000 United States Treasm-y, Washin gton, D. C. Uncovered paper------·------1,229, 700,000 Who can expect any action against the Standard Oil on the part of this Administration in the face of evidence like this? Is there a man in the House, Republican or Democrat, that can view this Total·------·------·------3,004, 600,000 condition of affairs with contentment? Three months ago the and gold alone constituted over 58 per cent of the whole stock. Standard Oil declared a quarterly dividend of 12,000.000, or forty In view of these facts, no one can deny that these countries were eigbt million a year, on a capitalization of one hundred million. better able to maintain the gold standard on January 1, 18~9, than This tribute from the people did not satisfy them, and about the they were a double standard prior to 1873. first of the present year every poor family in the land was taxed Surprising as these changes have been among the commercial an additional sum of 3 cents per gallon-kerosene oil going from nations of the world, the comparative financial situation of the 9 to 12 cents a gallon-with the result that a short time afterwards United States is still more striking. a quarterly dividend of s~o.000,000 was declared, and" the stock, Here we can bring the comparison down to one year later, Jan whose par is $100, sold for over $550. uary 1, 1900. How long can any government exist on conditions· like these? In 1873 we had- You will never be able to destroy this power until you take away Gold ------·------$135,000,000 the control of the money of the people from the banks. Why give Silver·--·------6,150,000 banks this enormous power to increase or decrease in circula Total ______: ______141,150,000 tion. the power to make money cheap or make it dear? What greater responsibility rests upon those legislating for the Uncov~red paper---- __ ·------·------· 749, 445J 000 1900. CONGRESSIONAL RECORD-HOUSE. 2847 So that silver and gold together were 15.8 per cent of the whole ISilver--.------~ $644,165,342 stock. On January 1, 1900, we had- Uncovered paper------·-·------· ------·---- 339,617,000 Gold ______,______------$1,016,"009,8571 · ----- Total. ____ . ______. _ .. ___ . ______tl83, 782~ 342 [From report of the Director of the Mint, 1899.] TABLE No. L-Monetar1J systems and approximate stocks of money in the aggregate and per capita in the principal countries of the world on January 1, 1899. Stock of silver. Per ca-pita. Ratio Ratio between between gold Stock of Countries. Monetary and full Uncovered system. 'f~~t~~~ Population. gold. pa.per. Sil Pa· T l legal Full tender. t:1J~~~ Total. Gold. vei~. per. ota . tender tender silver. silver. United Rta.tes .... Goldandsilver lto15.9S ltoH.95 75, LO:l, 000 $94.5, 800, 000 $563, 700, 000 S75, 300, 00~ SG39, 000, 000 $329, 700, 000 $12.5G $8.4S Stas $25.42 United Kingdom. Gold ______·------· ltoH.28 40,21.0,UUO a482,300,000 ------·-- 111, 900,lXKi alll, 900,000 alll.600, COO 11. 50 2. 7H 2. 77 17. 05 France _ ------____ Gold and silver 1to15t 1to14.38 ~. 500, (1(~1 a810, (i()(), 000 a336, 100, 001.1 aM, 000, OOU 420, 100, 000 a lt:il, 100, 000 21. 05 10. 9:! 4.18 36.] 5 G ermany ______Gold_------______1to13. 957 5:3, sou, occ b ti72, 800, ooo b ss. mo, ooo bll9, 500, ooo 208. 200, ooo a L'>li, 700, ooo 12. 8G 3. !lS 3. 00 19. 84 Bolgium ______Godandsilver lto15t ltol4.38 ti.G00,000 b30,000,0CO b40,000,000 b5,000;000 45,000,000 aS:!,5011,000 4. 54 6. 82 12. 50 23. 86 Italy __ ---·------_____ do ______1to15t 1to14.3:! 31,700,000 a98,000,000 bl6,f.IOO,OOO b:!'i,900,000 a43,900,000 al7:!,!JOO,Ol:O 3. 09 1. SS 5. 52 9. 9J Switzerland ..•.•...... do------____ l to 15! l to 14. 38 3,100,000 dZJ.,000,000 ·------·· dl0,700,00! .10.100,000 a17,400,om 7. 74- 3. 45 5 61 16. so Greece .. ------_____ do ...... ____ l to 15t 1to14:.38 2, 4CO, OOG b 500, 000 b 500, ()()(l b 1, 000, 00; 1, 500, o.N a 29, 103, WO . 21 . 62 1:3.12 12. !J5 Spain.------______.do • ...•. ---· 1to15t 1 to 14. 38 1s,3UO,ooo g53,400,000 ------· 37,soo,ooo a37,800,ooo 0 1s1,5nn,ooo 2. 92 2. Ot 10. 24. 15. 22 Portugal---··---- Gold------·------· 1to14.08 5,100,000 a5,200,0CO ------·------9,600,CXXJ g-9.()()(),()()(l . a75,21X.J,OOO . 1. O'Z l . SS 14. 74 17. 6! Roumania ______Gold and silver -·--·- ---· -··· ------5, 400,000agl3,100,000 ---· ----- ____ 7, 100, 000 ag7,100,000 g-20,:.!fl0,-000 2. 42 1. 31 3. 75 17.48 Servia .. ------· ____ .do-----··--- ____ ------· --- ____ --·- 2,400,000 gl,000,000 ------1,800,000 gl,800,~JOO g3,COO,(}(i0 .41 . 75 1. 50 2. ti6 Austria-Hungary Gold ----· ------· 1to13.69 45,000,0:JO aztl,400,00U b50,000,000 b97,300, ()(riJla147,300.000 a103, 0on,oc11., 4. 82 3. 21 2. 2! 10. 27 Netherlands _____ Gold and silver 1to15J 1to15 5,000,000 a30,200,000 a52,900,00) 3,500,000 56,400,000 a47,200,000 6.0-i H.28 9.44 26. 76 Norway ______Gold------···-·------· 1to14.88 0 2, 100,000 a8,6CO,OOO ------2,300,"000 a2,300,000 a5,lo.1,0i..O 4.10 1.09 2.43 7.62 Sweden. ______do ______·------1to14.88 5,C-00,000 al3,000,000 ...... 6,500,000 a6,500,000 a29,i.Oll,COO 2. tiO 1. 30 . 5. 00 9. 80 Denmark ______do ______------· 1 to H.88 2,3!Xl, 000 a 16, 900,000 ------_. ----- 5,400,000 a5,400,000 a5, 9t'O,OOO 7. 35 2. 35 2. 56 12. 26 Russia•------·--- _____ do------· ____ -----· l w 23. 24+ 130,000,000 a UO, 400,000 _·------·-·- a 81,900,000 81, OO'l,OllO ------__ . ______5.69 .liO ----- G.32 'l'urkey. ·-··------Gold and silver 1to15t 1to15} 2!,100,000 b 50,000,000 b30,000,000 bl0,000,00U 40,000,000 ... ______.. 2. 07 1. 6G ----. - 3. 73 Australasia.------Gold ______·------lto14.28 5,100,CXiOal32,100,000 ·-·--- - · ----· a7.000,000 7,000,000 a22,500 000 25. 90 1. 31 4. 41 31. 68 Egypt------__ ---- ____ _do .. ·--·------1to15.68 9,800,000 b 30,000,000 ------__ ----· a6,400,000 6,400,000 ------____ ---·- 3.06 .65 ------3.71 Mexico-·----· ____ Silver ______•... 1to16} ·------· 13,000, 00G b 8,600,000 106,000,00U ______106,000,000 a4,000,000 .66 8.15 .31 9. 12 Central Ameri- _____do ______------·--·-·- 3,400,0GO al,000,000 o-11,4.()0,000 ----·--·---- all,400,000 a18,100,000 - • 30 3. 35 5. 32 8. 97 can States. South American _____ doe ______1to15t ------38, 000, (XX] a 72, 700, 000 b 19, 000, COO b 10, 000, 000 a 29, 000, 000a1, 15V, 300, 000 1.91 • 'i"6 30. 51 33.18 States. 45,000,('00 a54,000,000 •....•..•.... 25,300,000 alU),300,000 ______1.20 .55 ·----- 1.75 i:Sian ·=: ::~====:::: ~i1~~r::::=::::: i"io-i5--- ~-~~-~·-~-- 296,900,CI(}() ---··------568,400,000 ______a568,400,000 a47,400,000 •.•.••. l.!H .16 2.07 ct.Ina . . ------·--· .•.... do ______---·-··-··--·----···-· 883,500,00n ··------b750,000,COO ------750,000,000 ·------·------1.96 _ ·---- 1.96 Straits Settle- .••.. do ______------4,500,000 ------·-···- b240,000,000 b2,000,000 2!2,000,000 ---·------·--·- 53.82 ------53.82 ments. / Canada._------____ Gold . ·-·-·- ____ ------____ 1to14.28 !;,400,000 ab20,000,000 ------·--· a5,000,000 5,000,000 a!0,500,000 3.70 .r:i 7.50 12.13 Cuba.-----·------Golda.ndsilver 1 tol5t ------·-- 1,800,000 b2,000,000 ·-----·--·--- bl,500,000 1,500,000 ------· ------1.11 . 83 ------1.94 Haiti .------_____ do ______1to15t ------1,000,CXJO al,200,000 b2,000,000 bl,500,000 a3.500,IXXl a3, 700,000 1. 20 3. 5() 3. 70 8.40 Bulgaria ______·--- _____ ,fo ______1to15i 1 to 14.39 3,300,000 bl,000,000 b3,400,0CO b3,400,000 6,800,000 ------.30 2.00 ------2.36 Siam .. ______Silver ______------______·------5, 000,000 a20, 000, (J()() 193,400, 000 ·---·- ·----- a 19'J, 400, 000 -----· ··--- ____ _ 4.00 38.68 ·---·- 42. 68 Hawaii---·---- Goldandsilver lto15.98 1to14.95 100,000 ai,000,000 1,000,000 ______al,000,000 ------·--- 40.00 10.00 --·--- 50.00 Cape Colony ______Gold------·--·-----·---- 1to14.28 2, 100,000 c37,000, 000 ------1,000,COO cl,000, 000 .....• ------17.86 A'i ------18.33 South African .....do ••..•..... ______l to 14.28 1,100, 000 c29,200,000 ------1,200,000 cl,200,000 ------·--- 26.54 1.09 ------?:l.M Republic. Finland.---····--- ..... do------. ___ --·--· ____ 1 to 15t 2, 600,000 g4, 100,000 ------· 500,000 g500,000 gl0,800,000 1.58 .19 4.15 5.~ ------Total ___ --·· ______·----- ______1,311,300, ooort,614,600,ooo &, 102,500,000 733,aoo,000 3,835,800,ooo 2,846,500,ooo 3. 50 2. 91 2. 16 8.57 1 a Information furnished through United States Representatives. e Except Venezuela, Chile, and Peru. b Estimate, Bureau of the Mint. /Includes Aden, Perim, Ceylon, Hongkong, Labuan;and -Straits Set c Money and prices, State Department, United States. tlements. d C. Cramer Frey. g Bulletin de Statistique, Paris, January, ~899. [Prepared from report of the Director of the Mint, 1899.] TA.BLE No. 2.-Approximate stocks of money in the aggregate and per capita in thirteen principal countries of the world, .1873. Per capita.. Uncovered Countries. Population. Stock of gold. Stock of silver. paper. Gold. Silver. Paper. Tota.L United States ____ ------· •.•••• --···· 41, 700,000 $135, 000, 000 $6, 150, {'.()() $749, 445, 000 $3. 2! $0.15 $17. 97 $21. 3( Great Britain .••• ------.. -· .. ------31,800,(;(){) 160. 000, 000 95,000,000 59,800,000 5.03 2.99 l.t8 9.90 France_ --· __ .• ------·. ------ 36, 100,000 450, 000, 000 500, ()(JO, 001 385, 300, 000 12.47 13.85 10.67 36. 9!I Germany __ ·------·---·----·-··------ 41,000,000 163, 200,11()() 306, 235, 000 90,800,000 3. 91 7.47 2.21 la.59 RuRsia ------· ------··------8.'~. 2110. ooo 149,100,000 18,(i()(),000 618, 400, 000 1.81 .23 7.52 9.55 ltaly _-- ---· -----··- ·------·----- .... ____ ---- 21:i,800,00J 20,000,0;)() 23,000,COJ 87,800, 000 .75 .85 3.27 4. 88 5,200,000 25,000, LO'.l 15 Ol(),LOO 35, l OU,090 4.81 2.88 G. 'i5 14.44 ~~f~~1~ands::::::=:::::: ::~: :::: :::: :=:: :::: 3,900. 000 12,000,000 37,300,000 15,300, 00U 3.08 9.56 3.92 16.56 Au4' tria-Bungary ------·------····· 35, 900, 000 35,0J0,000 40,000,000 ~5,800,UOO .98 1.11 7.40 9.49 . Australasia. _____ ------• ______2,600,(](i(} 50,000,000 3,0fl0,000 l!J.2:3 1.15 20.38 Denmark------·------·· ------· 1,800,0CO 4,100,000 7,500.000 --···- ··a;5o6;ooo· 2.28 4,.16 -----· -3.-6i" 10.00 Rweden ------...• ____ ------4,403,000 1,sm,000 4,300,000 fi,000, 000 .41 .98 1.36 2. 75 N or·way •.. _------1,800,(J()() 7,600,000 1,600,000 2,300,000 4.~ .89 1.28 6.&I 'l'otal. _____ .. ______•. ______315, 200, 000 1, 209, 800, 000 1, 057, 685, 000 2, 32:~, 5-ii>, COD 3.83 3.25 7.36 14.54 THE SAME COUNTRIES SHOW ON J.A.:NU.A.RY 1, 1899. United States .....• -----· •••..• ---·----·----· 75,300,000 $945, 300, 000 $689, 000, 000 ~.700,000 $12.56 $8.48 $i.38 $25. 42 · Great Britain.----· __ -·-- __ ·--· ____ .------40,200,000 462, 300, 000 111, 000, 000 111, 600, (JOO 11.50 2. 78 2. 77 17.05 France.------____ ------.... ---- 38,500,0CO 810, coo, 000 420, lCO, 000 161, 100, • 2848 CONGRESSIONAL RECORD-HOUSE. MARCH 13, [Prepared from Report of Director of the Mint for 1899.) TABLE No. 3.-.Appi·oximate stock of gold, silvei·, and uncovered paper in the thirteen principal countries of the world in 1873 and Januar?J 1, 1809, and changes . between those dates, expressed in millions. Gold. Silver. Uncovered p aper. 1~~~~~~~,..--~~~- 1 -~~-..,-~~~...,..-~~~~ 1 ~~~~~~~~~~~~1Totalper Totalper Countries. Population, I ( ) I In ( ) ·ta capita. 1899· 1873. 1899. Increase. 1873. 1899. nc~i.~:- + 1873. 1899. c~;if:. + ctK.fu. ' January crease(-). crease(-). 1,1899. ~~~~~~~~~ 1 ~~~~~ 1 ~~~ United States ______75,300,000 $135 r,li.5.8 $810. s ~.2 $639 +$6-32.8 $749.4 $329. 7 - $419.7 $21.36 $25.42 Great Britain---··------40,200,000 160 462.3 302.3 Jll.9 + 16.9 59.8 111.6 + 51.8 9.90 17.05 Franco ...... -----·.------38,500,000 450 810.6 360.6 500 W.l - 79.9 385.3 161.1 - 224.2 30.99 36.15 Germany------.. ------52,300,000 160.2 67'2. 8 512.6 306.2 208.2 - 9S 90.8 156.7 + 65.9 13.59 19. 84: Russia -----·------ 130, 000, 000 H9.1 740.4 591.3 18.6 81. 9 + 63.3 618.4 - 618.4 9.56 6.32 Italy------31 , 700,00) 20 98 78 23 43.9 + 20.9 87.8 --·-114:9· + 87.1 4.88 n.99 6,6()(1,000 25 30 5 15 45 + ·so 35.1 82.5 + 47.4 H.44 23.86 ~~E:fands::==::=·.:===: 5,000,000 12 30.2 18.2 37.3 56.4 + 19.1 15.3 47.2 • + 31.9 16.56 26. i6 Austria-Hungary.-----. 45,000,900 35 2'Zl. 4 186.4: 40 147.3 + 107.3 265.8 100 - 162.8 9.49 10.27 5,100,000 50 132.1 82.1 3 7 4 22.5 22.5 20.38 31.68 Australasia_------ + ------6~5- + Denmark------~ --- · - 2,300,000 4.1 16.9 12.8 7.5 5.4 - 2.1 5.9 - .6 10.05 12.26 Sweden------5,000,000 1.8 13 11.2 4.3 6.5 + 2.2 6 29.5 + 23.5 2.75 9.80 Norway------2,100,000 7.6 8.6 1 1.6 2.3 + .7 2.3 5.1 + 2.8 6.39 7.62 -1,092.81 14:.54 1 ru~;~~~~a~~1if_~ ~~~~-: :::::·::.:::-_:::: ::·.:::::::: ===:::::::::: :::: :::: :::: ===:::::~::::::: ::=:::::::::::::: :·. ::: :::: ::·.::::·_:::=:::::::=::::::::::::: ::: ~: ~~: ~: ~ Incre~se of silver • J •• •••• ----· ------· ---· - -- •••• --·· --·------·------•• ------··· --·- ---· ------·· --·- 717, 200, 000 ~- - And instead of our monetary stock having less than 16 per cent coinage of gold, with silver coined on Government account only. of it gold, as in 1873, it now has nearly 51 p.:,r cent of it in gold, In my judgment, now is the time not only to declare that this as the only money of ''ultimate i·edemption" under the single shall continue to be our policy, but to correct the mistakes of the gold standard. past, to stop forever the ''endless chain" of greenbacks, and to so But, notwithstanding these facts, the advocate of the free coinage legislate that our excessive volume of legal-tender silver shall cease of silver repudiates them all, and denying the effect of the enor to be a menace to the gold reserve. mous increase of gold, either in the aggregate or in excess of the Assuming that the statements made heretofore are based on increase of population, now puts forward the claim that it is not facts, no one, not even the bimetallist-no one but the believer in sufficient to conveniently provide for the greatly expanded com a pnre fiat paper currency-can justify any other course, for the merce of this and other nations. ''endless chain" of greenback redemption would be just as dan It is unfair to the free-coinage advocate to make a comparison gerous with both metals as with one, and the experience of other of specie and the volume of trade in 1873 and 1899, for in 1873 we nations shows that on silver alone it works far more rapidly. were not on a specie basis. It is equally unfair to the gold-standard There is neither reason nor sense in this Government saying to advocate to compare conditions in 1860 with the present, for we all mankind, as it practically has been doing, that it will "hold nowhave a thousand millionsofpaperadmissibleaslawful money itself ready to furnish gold or silver to whoever may want it and reserve against bank deposits, but believers in the gold standard to any amount, without any power to control the demand by inter can accept even these enormous odds and still maintain their con est rate or brokerage charge, as a bank would do and as the banks tention. of all Europe always have done, and then to issue its bonds to buy The loans and discounts of all c-0mmercial banks in this coun back the specie with which to repeat the process. Gradual retire try in 1860 were $706,333,272.22, and the specie held (both gold ment of greenbacks by final redemption as the supply of gold in and silver) was $82,638,510.09, or 11.6 per cent. creases, or impounding them and so practically changing them The loans and discounts of all national banks on December 2, into a gold certificate, are the only sure and safe remedies. 1899, "\\"ere $2,479,819,494, and the gold held was $274,687,240, or As the best possible evidence that this is feasible I submit the 11.07 per cent, being substantially the same percentage as in 1860. following table, showing the world's production of gold for the But, conclusive as these figures are that gold alone is a better past one hundred years: basis now for our financial system than gold and silver together have been at any time since 1860, at least, there is one other fact Annual average. Total for period. which settles the question beyond dispute. Since 1873 it has been Period. the standard of value. Since resumption in 1879 it has been the ~~~~~~~~~i-F-in_e_o_un~c_e_s._ __V~al_u_e_.~ _Fin_·_e~ou_n_c_e~s·1~-V_a_1u_e_.~ i-edeemer for all other kinds of money; for while direct exchanges 1 1 of gold for silver certificates and silver dollars have rarely been 1800 •• ------571,948 $11,823,000 571,94.8 g11,82l,OOO made at the subtreasuries, both have been regularly received for 18~1-1810______571,563 11,815,000 5,715,627 118,152,000 1811-1820 •••••... ------367,957 7,606,000 3,679,568 76,06.'3,000 all public dues, and the Government itself has paid its bonds and 1821-1830 ______457,0« 9,448,000 4,570,444 94,4i9,000 the interest thereon in gold or its equivalent, and yet with the 1831-1840 ------· 652,291 13,4lH,OOO 6,522,913 13!,841,000 single gold standard practically maintained since 1879, interest 184-1-1850 ·------1,760,502 36,393,000 17,605,018 363,9t8,000 1851-1855 ------6,410,39.A 132,513,000 32,051,G21 662 566 000 rates have steadily fallen, and the advantages of the system have 1856-1860 ------· 6,486,262 134, 083, 000 82,431, 312 670:415: 000 been daily manifested to every debtor in the land. ' 1861-186.5.______5,949,582 122,989,000 29,747.~13 614,944,000 1866-1870______6,270,086 129,614,000 31,350,4:30 648,071,000 No one can deny that the borrower of to-day is paying from a 1871-187!) ______5,591,()14: 115,577,000 27,9ii5,068 577,883, *Estimated by the Director of the Mint. Percent. Fives of 190! •• ---- ••••••• ------·-----•....• ------· $111.'375 2.220 I call attention to the fact that the year 1800 showed a product Fours of 1907 ------·------_------•..•.•••••.• 112. 7284 2.176 of $11,823,000, and 1899 $315,000,000, and thatwith slight variations Fours of 1925 ------.. ------132.5057 2.296 2.368 the increase has been steady. With the improved processes now ~::~~it~======:======} 109.5217 { 1.810 in use in every bi·anch of gold production there is no reasonable ! doubt but that in 1900 and succeeding years a proportionate in- This is the splendid record of twenty-seven years of the free crease will occur, ., 1900. _CONGRESSIONAL RECORD-HOUSE. 2849 ln the face of this last column of figures showing nearly seven The last Senate and House differed as to the meaning of the and one-half billion dollars' worth of an imperishable money metal word ''coin." added in a sing.e century to the world's ever-increasing supply, the This bill removes that doubt and authorizes the refunding of arguments of the advocates of the necessity of a double standard these bonds into thirty-year 2 percent bonds, payable in gold, the become utterly ineffective. Government taking up the outstanding bonds on a basis of 2t per The fact is that the world has reached a point where each na cent interest, paying the differe!lce in cash and issuing in exchange tion may choose for itself, as individuals always have done, the a new bond at 2 per cent interest. standard of value most convenient for itself and best adapted to That this can be-done in whole or in part is clearly apparent, its own commercial conditions and the character of its civilization. and if it is successful, it will put the credit of the Unit-ed States Under thef'e circumstances, for the United States to select the higher than that of any other nation on earth, and be a lasting inferior, with the best not only attainable but literally forcing honor to the name of Lyman J. Gage, the author of the plan. itself upon us, would be financial suicide. As in the original is~ues of Government bonds in 1864, the The pending bill aims to enact into law that which the course national banking system is again made the instrumentality by of events has demonstrated as an existing fact-name.y, that gold which the refunding scheme is to be worked out. is the foundation upon which our commercial structure is built. Note issues are authorized to par of the bonds held and to the · It starts out with the clear, clean-cut declaration that the dollar full amount of capital paid in, instead of 90 per c~nt of each, as con isting of 25.8 grains of gold, 0.9 fine, ~hall be the standard unit now. of value. The tax on circulation, which is now 1 per cent. is reduced to It brushes aside the disputed question of the present standard one-half of l per cent on notes secured by the new bonds. and the by striking out the words "as now., from the House bill and organization of banks of $.25,000 capital permitted in towns of less "continue to be., from the Senate bill, and boldly declares that than 3,000 population. in future, no matter what it may have been in.the p.ast. the stand The saving to the Government on the refunding of these bonds ard" shall be" gold, and that all forms of money issued or coined will be more than $22,000,000, and there is no question but that by the United States shall be maintained at a parity with gold. tha banking facilities of the country will be largely increased and This means that every dollar. of gold. silver, paper, nickel, or the rates for discount ultimately materially decreased thereby. bronze shall be the equivalent of every other, and, if need be, shall There are other mmor provisions of the bill, only tending to ren- be inte.rchan.gable with each other, for it is made the specific duty der these principal ones effective. . of the Secretary of the Treasury to maintain such parity, and to The following statement of meth~d of computing saving is fur this end the bond power of the United States is at his di'3posal nished hy the Government al.;tuary: "as the public interests may require." . Upon February 1, 1900, present worth to yield an income of 2t p er cent per The promissory notes of the Govemment, which now by statute annum. for t he- are payable in coin, are hereafter to be redeemed in coin of Fours of 1907. ______------· · ·----· ------______---- _··--- ______lll. 9232 standard gold. Fives of 1904 ----_------·------···------____ ------____ llO. 4913 To make this sure and certain, instead of one hundred millions Threes of 1908_ ----. --- _ ·------____ ------_---·- __ ---- __ ·--- 105. 7'13i7 The difference between their present worth, computed a.IS9-i. i:l3 • --·-- mission given to the national banks to continue one-third of their New Hampshire.. 390,000 76,164,861 192.34 46.43 $4.3-5 •••••• 142.06 -----· Vermont.______3.37,000 58,971,631 174.!m 58.17 ------116.82 ______note issues as five-dollar bills. · l\fa"rncbus<>tts ·--- 2, 745,00011,0M,225, 483 384.05 136.13 , ___ 50.39197. 53 ----·- If the volume of bank notes is largely increased, as many be Rhode I~lanq______418,000 151, 771,202 363. 09 ll5.?9 4.38 6.5. 76177. ~ ------1 lieve it will be, the five-dollar bank .bill will surely drive the five Connectlcu t. ______875, 000 270, 490, 712 809.13 87. 21 11. 9_7111. za ~s. 72 =.::.: dollar silver certificate back into the Treasury to th~ detriment of 1 'l'otal New I r the Government. Engla nd I I am of the opinion that bank notes, under present conditions, States----- 5,4.6.5,0001,721,281,992 3U.96ll04.40 2.57 33.84174.15 ------should be commercial instruments only, and not ui=ed by the peo New York. ______. _ 7, 175, 000 2, 66!, 243, 526 371. 32 1118. 95 44. 76 78. 67 128. 65 $0. 29 ple as change money. New Jersey--···-· 1,890,000 202, 738,505 101.26 50.50 6.19 20.28 30.29 ----- The Government has the right to the exclusive use of this en- Pennsylvania ..... 6,115,000 887,857,875 145.20 77.49 13.sai 34.83 17.45 1.60 .tire field. Delaware______188, 000 21,76.5,3i5 115.77 48.21 ll.881· 27.77 27.91 ______Maryland------1,275,000 146,226,944 114. 69 5.5.1'J 6.99 5.95 45. 62 .4.1 So much for the silver legislation in the bill. District of Colum- What are the banking provisions? _ bia______300,0llO 41,195,757 137.32 83.3! ------53.!lS .•..•• ---··- The Government bas now outstanding, and all due within the next eight years, eight hundred and forty millions of 3, 4, and 5 Total East- . ----i----- vn States. ~3,004,025,9~ 233.96 90.18 2.5.30 49.86 67.89 .73 per cent bonds payable in coin. XXXIII-179 r I 2850 CONGRESSIONAL RECORD-HOUSE. MAU.CH 13, Population of the States and Territories on June 11 1899, etc.-Contifiued. .Aggregate 1·esources, expressed in millions of dollar's, of national banks on June so.__1899, etc.-Continued. All banks. Average per capita. Lnnn .... 'tl. ID 0 Na- State and Sav Pri l>opula- a! States, tru. t ings vate Total. i:l~ bet +> otc. banks. States, etc. t10n Aver- i:lcij i:eocn ~~~n:;. com banks. banks. June 1, a~e 0.!>4 i +> Q) dt.i Capital, etc. .... i;l .0 -~~ l>i;l panies. 1899. per Q) .... a! +> d +> ~ §"§ I> d capita. oj.O (i!,Q i-...0 ~ ob P. rlJ ~ rlJ ii. Kentucky---·------ 57. 3 112.l z Tennessee------·--··- 38.1 52. 6 Virginia.------·-- 1, 780,000 S.'>6, 329. Mo $d1. 6.'l $14. 89 $16. 76 _----- ______----- Total Southern West Virginia ___ _ 905, OlXJ 37, 185,867 as.M 16.91 21.28 ______so.35 ______States----··------337.1 210.0 __ .,_ ...... 11.3 8.1 566.5 North Carolina _.. l,S.1)5,000 20, 851, 143 11. 24 6. 20 4. 31 ------. 73 ------South Carolma. --- 1,335,000 12, 497,271 9.36 6.08 .54 ------1.81 $0.93 Ohio------··-- .... 203.2 87.8 6.0 42.0 6.3 4JJ5.3 2,2111,000 48,1!">6,150 21.50 6.64 U.93 ------·--· Indiana ------86.fi 20.9 5.2 5.9 6.7 125.2 ~io°iia:.:::::::: ::= 5:.Jfl,000 11,012, 541 21.18 14. 82 6. 36 ------. ----- Illinois.·------·------3-!9. 8 198. 7 ...... 11.5 560.0 Alabama-·------l, 730.000 17, 005, 905 9.83 7.88 1.9'l ------·------79.0 114.9 ...... ----··:4 4.0 197.9 Mississippi ______l,640,000 19,295,042 12.53 2.W 9.00 -----· --·-~ ------~ir~~~~~n:::::::::::::::: 82.9 51.4 ----T5· 10.4 145.1 Lonisiana ------l,311J,000 45,27a,!i32 34.56 19.96 11.67 ·----- 2.93 ·----- Minnesota •.•••• -·-·------74.4 00.9 12.0 3.9 m-2.~ Texa.c; ------2,985,000 76, 014, 77H 25.47 2!. 02 ------1. 45 79.0 40.8 57.9 11. 7 l '9.4 Arkansas ______1,4.%,000 9,616,688 0. 73 2.9.'5 3. 78 ______·----· ---·-- ~f::O-urL:::::::::::::::: 156.8 110.5 ---- -...... ·------8.1 2i5.4: Kentucky------2.220,000 89, 713,611 40.41 17.69 22. 72 ------Tennessee. ______1,950,000 45,0M,833 23.10 15.s:t 5.56 ------1. 72 ------Total Middle ----1-----1------States------l,17l.6 661.9 16.7 118.2 62.6 2,031.() Total South- ern Statt\s. 21,865,000 488,029,306 22. 20 12.58 8.~ ---··- .52 .25 North Dakota ....•.•••... -U 6.9 ------~----·-· ------·· H.3 -===0:1-~=== '==0: 1 === 1::==1===1 == 1 =-c= South Dakota______8.2 10.2 ·------····----- 18.4 Ohio .•.•.••••.••... 4,500,000 343,6-ta.89-i 76.36 45.08 19.25 $1.32 9.33 1.38 Nebraska------· 58.3 30.1 ------· ------88.( lnlliin~lian• a_.• _._·_·_·_·_·_-_-_-_-_ 2,635,000 1111,270,208 4l.S.'> 27.27 7.Si 1.99 2.24 2.51 Kansas.···------· 40.0 33.0 ------·--·-- 73.0 0 18 4, 785,000 4ZJ,149,79'! 88.43 47.67 38.38 ------· 2.38 Mcntana. ------16.4 6.6 • . . --- _ 23.0 Mi~higal?------· 2,385,000 177,831, 974 74.56 26.39 ~.48 -----· ------1. 69 Wcyo~ad. g_ -_-_-_-_-_-_ -__-_-_--_-_-_-_- __- 4.3 .6 :::.:.:.: : .... ::.:: -----i~s- 6. 2 Wisconsm ______2, lfiO,()!() 131,9.m,063161.37 32.57 23.83 ·--·-- .20 4. 77 010.. 0 68.4 7.9 -•·····-- --·•----· .3 66.6 Minnesota.••••.... 1,850,000 112.~"1.677 61.07 31.67 1 .a::l 2.56 6.44 2.07 New Mexico______4.6 1.5 ------6.1 ~~sao.u· r--._-_-_-_--_-_-_-_-__--_ 2,212,000 167,~17, 759 75.66 26.09 1 .22 ------26.14 5. 21 Oklahoma .....• ------1.8 3.9 ·------_ 5. 7 = 1 3,at0,000 203,227,674 61.21 27.57 31.42 -----· ------2.22 Indian Territory------· 3.2 ------·--·-· .3 3.5 ----1-----:·--- - · ------· ------Total Middle Total Western States----- 23,837, 0001, 670,419,003 70.0S 35.39 26.00 .67 4.95 2.57 States----·-·----· 202.6 100. 7 1.9 305.2 North Dakota .•••. 258,000 13,378,200 51.85 26.17 25.68 ------· -----· Washington ....•• ---- ___ _ 2!.8 7.6 32. 4: South Dakota .•..• 405,000 16,9!18,3i8 41. 75 17.43 24.82 ------·-- 18.9 3.9 ·------...i6f3" -----:f(;" 22.8 Nebraska ----·---- 1,410,000 70,~21,445 49.94 28. 75 21.19 ------ 8~m~:nia:::::::~::::::::: 57.3 100.0 357.2 Kansas------.----. 1,380.000 CG,930,891 48.00 26.0'J 23.48 ------Idaho------ 4.3 .7 5.0 Montn.na ------24'),000 19,207,397 80.00 00.94 19.09 ------Utah .•...• ----_------ 8.0 6.3 ------2~9- ::::::::: 17.2 91,000 5,832,tOO 64.09 4H.21l 6.83 ·------14:.0l Nevada .•..... -----··----· .5 1.4 1.9 ~lg=~::::::::: 5.."7,000 64,187,208 102.82 87.23 15. 00 ______-·---- .56 Arizona------·-· 2.9 1. 7 4.6 New Mexico·---- !m.000 5,157,8t7 22.43 16.04 6.39 ------·------Alaska ______·------·· ---- .1 .1 Oklahoma ...•..•.. 28.i,000 5,SM,2&! 19.49 5. 76 13. 73 -----· -·---· ------·--'=------·------Indian Territory - 215,000 3,304,438 15.37 13.88 ------·-·· 1.49 Total Pacific States 116.8 157.6 ·-·------164.2 2.6 «I.2 Total West- Total United States t, 708. 6 l, 636. 0 1, 071. 4 2, 40Cl. 7 87. 8 9, 90!. 5 ern States. 5,0U,000 260.882.255 51. 75j 32.08 19.30 ------. . 37 Washington...... 4fo,ooo 28,990,65.5 61.00 45.87 15.16 -~---- ______The last Democratic platform declared that- Oregon______455,000 18,95.5,002 41.66 33.24 8. 42 •••••• ---·------Congress a.lone has power to coin and issne money. We therefore demand California. •••• _. ___ 1,555.00J 33!,107,881 214.22 30.59 78.90 ______100.11 1.62 that the power to issue notes to circulate as mnney be taken Crom tba national Idaho------180,000 4,679,756 26.00 21.9! 4.06 ----·· -----· •----- banks and that all paper money shall be issued directly by the 'fteasury De· Utah---·-········- 28j,OOQ 15,54-3,933 55.12 22.90 21.90 ••..•• 10.32 ------r>artment. · Nevada •••••••••• -. 45.000 1,915,422 42.57 11.57 31.00 •••.. ------Arizonja ---·------83,000 4,351.877 52.43 32.1>1 19.92 ------·- By a strange inconsistency practically the solid Democratic vote Alaska------40,lXXl ll'i,~ 2.92 2.92 --·--- -·------in the Senate has at this session been cast for the free coinage of Total Paclftc silver on private accottnt, as well as fot the repeal of the restric States----- 3,115,000 407,661,530 100.87 31.54 46.12 ••.••• 52.40 . 81 tions on State-bank issues. ===:1=====1===1-===1===1===1===1:== I now call the attention of the Democratic members of the Total United House to these two tables, Nos. 16 and 17, and ask them to note 8 512 300 108 111 61 45 59 19 81 13 71 31 40 1 16 States----- 76,2G6,000l • • • · · · · · · the fact that in all parts of the country where banking legislation is needed most the represent.a.tives of those sections will vote .Aggregate resources, expressed in millions of dollars, of national banks on against it, and where needed least it will be most strongly sup- June $0, 1899, and State, savings, private banks, and loan and trust compa· porte~ . nies at date of latest return& to this bureau. Massachusetts, with a banking power of 384 per capita; Rhode Island, with 363. and Connecticut, with :-i09, do not need more Loan and Sav- Pri- banks; but South Carolina, with $9, and Alabama, with $9, and States, etc. tfo~;u State trust inga vate Total Arkansas, with $6, do need them. banks. banks. com banks. banks. Since this bill has been pending in this House applications fol' panies. ------·1----1----1------274 new national banks have been filed in the Comptroller's. Office with an aggregate capitalization of $10,885.000. Of that number 65.9 117.9 MaineNew Hampshire ------______-- _ 42.0 ------10.0 161 are for banks of $2.>.UOO capital, and all of these are now 24.5 1.9 ------·-- 59. 7 86.1 Vermont·· --···- ----~ - -- 39.4 63. 7 awaiting our action. Only six of them are from New England, ~:~ ---=------m~4- 543.0 RhodeMassachusetts-----·----· Island. ______1,lb"9. 7 13 from the Eastern States, 21 from the Southern States, 67 from 58.5 --- ·n· 28.6 74.2 163.2 7 Pa 91.3 10.8 10.0 173.9 28t>. 0 the Middle States. 41from the Western States. and from the Connecticut.------cific States. During the same period 15 bR.nks have gone into Tota.I New Eng- liquidation, with a capitalization of $3.674,9.50. land States______728.9 U.6 187.0 956.1 ______: 1,886.6 ------I submit a showing, by ~tates, of applications now pending for NewYork ______1,810.7 ----ssl.7~~~ 3,203.1 the information of members who contemplate voting against this NewJersey...... 106.8 12.1 39.8 57.4 ______216.l measure. Pennsylvania______5!11.6 86. 1 219.2 106.7 10.0 1,019.6 Delaware-----·------·-- lU.3 2.2 5.2 5.2 ------2"Z.9 Number of national-bank applications for $25,000 and iS0,000 01· more capital Maryland------· ------9"~.9 9.1 7.6 58.2 .5 168.3 tiled from December 1, 1B99, to March 12, 1.900. District of Columbia____ 27. 3 16. 7 ------~-· 4.4. 0 Num- $50,00l or over. Total Eastern berof1--~--~ States ______2.151.6 491.2 867. 7 l, 150. 9 12.6 4,674.0 States. ~~ N~~- Capital, Virgi~ -:-:·------ ~.3 &l.5 West V1rg1ma. ------ 19.2 gg ------· ·----~3- ~=::::::: 40.8 North Carolina------13.4 L6 L4 L4 2-1. 8 South Carolina ______10.0 .8 2.4 ------13.2 17.2 37.6 ------· ------64.8 ~o~r: :::::::::::::::::: 8.9 3.4 ------12.3 Alabama.--·-······-- ___ _ 15.5 3.8 ------19.3 ------·· Mississippi---·-····----- 5.0 20.8 ~~~ ~: =~=~=: :~-~~: :~:~~-:~~-~ ~~~ :~:: :~~~! ~~== ~-1- ·r ·: !~:~ Louil'llana -----·------·--- 30.5 }g:B -·----·------irs- ::::::::: 50.2 Texas ------_----- ______83.9 ------·------6. 7 90.6 New York-----·------·--.------··------i--·4 2 150,000 Arkansas.·----·---···---- 4.8 5. 7 ------·------···--- 10.5 New Jersey----··------·-·--··-----··-.... 1 1 100,000 1900. CONGRESSIONAL RECORD-HOUSE. 285}. · Numbe1· of .nationat-bank. applications fm· $25/>00 and $5Q/JOO or mo1·~ capital those countries, bas proven to be a source of great benP.fit. This may be in· filed from December 1, 1899, to Maren lt, 1000-Continued. ferred from the fact that changes which have since taken place in the r:i.te of foreign exchange have been l>ut very slight, and these all traceable to changes in the condition of the foreign trade. of the country and not all Num- $50.000 or over. traceable, a.M formerly. to sudden changes in the vrice of Rilver. berof 1---.,----- States. For this reason there was eliminated from our foreign trade much of that $25.000 Num- Capital. speculative efoment which was caused by constant changes in the value of 'Oanks. bcr. our currency; so that the way was ~t last opened for the steady and natural development of the foreign trade of the country. A_gain, concerning our 8 000 commerce with silver-standard countries. contrary to the gloomy prospects $.l.50, indulged in by some critics, our trarle with those countries bas not cease(f tq 2 150,000 lllake a. steady growth, and this in the face of cert.ain events occurring in the interior of China, our greatest customer among the silver countries, events, Total. •..•••...••..•..•••....• ------.• ---· ...... --·- 13 13 ---- ·----- such as natural calamities and .disturbances. which have greatly hindered Virginia ..•...••••.••...••....••...••••••• ----- •• ..••.. .• 3 3 150, CW the commercial activity of that country. · WestVirginia...... 3 3 200,000 Since our coin~e reform enabled us to avoid all the evil effects of fluc tuations in the price of silver, we stand now no lon~er. as formerly was th& Nor th Carolin&.... •..•.... .••.• .••• •••••••..• .••.•• •.•. 3 -····-· .•..... --- case, under the necessity of making plans for financial matters wit.Ii the cur rency constantly cbangip.i;? in value, and sometimes suffering unexpected losses and evils in time!! when those fluctuations are unusually violent. All Yi~?j~~~~;;~;:::::::::::::::==:::::::::: ====~= :::::: :::: ::::::: t ~: ~ those fears of miscalculation nd losses have now become things of the past. Most pm-ticumrly in the last few years when national expenditures for things bought abroad, such as war ships, etc., have gr-eatly increased in amount, we f~~~~it:::::::::::::::::::::::::::::::· ::::: :::::::::: i :::::~: :::~~~=~ have doubtless been able to avoid. on account of our coinage reform, great Texas _....•.. _...... •.• . .. . •• .• . . ..• • . . .. . • • . . .• . • . . . . •. •. 7 5 il60, 000 losses on the part of the National Treasury. Besides, since our adoption of the gold standard our Government bonds have beet\ sold in no small amount ~=~!~~·::::::::::::::::::::::::: :::::: :::::: :::::: :::: ··---~- ~ l:J:~ in the European market, so that their names appear regularly in the price list of the Londqn stock ex:cbaqge. This fact at once converted our bonds Total .••..••••••.•.•..•...•• ---· ..••••.•.•.•.••••... 21 20 •••••• ·--- into an international commodity, and will no doubt lea'.! to a olos3r relation Ohio •...•• ___ •..••••••.••••...... •.••••..•••...•••...••••. 6 7 400,CXXl shil> between our home and the to.reign money markets. 6 6 000,000 The dil!cussion also quotes a repor-t of the higher <;<>mmission on agriculture. illf~~isa._: :::::::: :::: ::::::::: :::: :::: :::::: :::: :::::: :::: 11 6 400,000 commerce, and industry, which, after a.n elaborate discussion of the effect of 5 the monetary system, closes by saying," We believe that the beneficial elfeet w~~~in· :::::: ::::::::·.:::: :::: :::: :::: :: ::::: ::::: :::: 5 ·····2· ··-ioo;ooo of our coinage reform on our foreign trade has a.lread_y been great, and we do. Minnesota ••....•...... •••..•••....••....•• ----- .... 10 6 iW,OCO not notice any material evil in connection with U. llesides, our adoption of the gold standard ha.'l made it e~er for our country to enter into the eco 18 9 450,000 nomic community of the world at large, so that henceforth it will become ~:ouri :::::: :::::: ::::::::::::::::::::: :::::: :::::: :::: 6 4 450,000 practicable f.01· us to invite capital from other countries where it is plentiflil to be invested lli our country. This will doubtless be another of the benefits Total. ••••••••••..••••••.•••..•••••.••.•••••..•..•.. 67 40 -·-·--·--· conferred upon the country by our coinage reform. We conclude, therefore, ======that the effect of the coinage reform upon our foreign trade has been ben~fi. North Dakota .••••••.•••.•....•••.••.••.•••... -·---·.... ll 1 50, 000 South Dakota...... 2 ••••••• -··--- •. -- cial, without a trace of evil." Nebraska. ____ .....••...•• ··--·· .. ---· .•••.•..•••••.••••• _ 13 4 200,000 Also two calculations made by the actuary of the Treasury, Kansas·---•.•...••.••. ---· .. ----·...... 8 4 200, 000 showing actual profit on national-bank circulation und~r ditfere~t ~r~~~~:::::::::::::::::::::.-:::::::::::::::::::::::::: ~ ~ ~:~ conditions of the bond market. New Mexico .....•.....• ----- •..•.... ------.... ••..••. l 50, :And later in the same speech added: another deception. This blowing both hot and cold at the same You tell me we must drop the silver question. I do not know what the time is on a par with all your acts in this Congress. To be con opinion of otherR may be, but God forbid that I should ever cease to demand sistent you bad to put this section at the t:l.il end of the bill in and argue for the r estoration of bimetallism. order to catch suckers next fall. [Laughter. l Over against that statement I put this bill and with it this com Now, when the purchasing clause of the Sherman Act was ment, m ade by an officer of one of the largest labor organizations repealed, what was the pledge made? Then the country was in the country, at the close of the debate when this measure was pleuged to r eturn to bimetallism. How was silver demonetized? first considered. Said he: By fraud and deceit. Now, you propose to pass what you say is When the boys have earned a dollar they want a good one, and they know a gold-standard bill, and yet at the same time you put in a section what that is. You stick to the gold standard. that you may use when the time comes ne~ t fall, on the stump, Mr. Speaker, I am content to abide by the decision of the Ameri to catch some suckers that yon hope to make believe you are going can people as to the continuance of this law. [Applause on the to bring about international bimetallism. You certainly can not Republican side. l make anybody on earth believe you are honest in this matter, but Mr. OVERST.B.EET. I hope the gentleman from Tennessee you have gulled the people so often you are encouraged to believe will now occupy some of his time. that you can do it all the time. · Mr. RICHARDSON. I understand there is only one speaker Now, so much for that. Mr. Speaker, the national banking remaining on the other side? system in this country i~ b ased on the bonds of the people sup l\lr. OVERSTREET. Only one that I know of now. port~ and sustained by an unjust and unequal taxation. Without Mr. RICHARDSON. Then, Mi:. Speaker, I yield twenty min bonds no national banks could exist. There is nothing more im utes to the gentleman from Georgia [Mr. MADDOX]. portant in the consideration of this act than in the consideration Mr. MADDOX. Mr. Speaker, the gentleman from Connecticut, of the bonds that form the basis of the banks. in bis closing remarks, read an extract from Mr. Bryan's speech Now, my d istinguished friend from Connecticut [l\fr. HILL] bas in regard to the free coinage of silver, and one would think from told us what a beautiful system this gold standard is, and what hearing his speech to-day and the speeches from that side of the beneficial results it ha.s produced, but there is one feature, my House the silver que8tion was settled finally and forever. friend, yon have not referred to, and which I propose to show, and Mr. FOWLER. And so it is. also rnbmit tables tabulated by the Treasury Department for the Mr. MADDOX. Now, he proposes to put one statement over consideration of the American people. bearing upon the cost of against the statement of Mr. Bryan in his argument as to the maintaining these bonds. Why, gentlemen, this bond qu estion, death of silver, and I want to read a section of this bill which he when it is understood, has proven up to this date a national curse, has not referred to and put that against his statement! 1t is as a means by which the holders thereof may grind the taxpayers at their sweet will. The more the people pay the more the debt follows: grows; and you gentlemen. by this bill. propose to perpetuate this a~oE~~~~ea;tt~~ ~'ieV:Sd~~n°!1 t~!~u~n~hi~:~~redc~~Kftl~~';d~~~1! svstem. Without bonds these banks could not exi ·t. If this bill make ft expedient and practicable to secure the same by co!lcurrent action becomes a law, you propose to fasten this curse on the taxpayers for of the leading commercial nations of the world and at a rat.io which shall the benefit of a few peop!e who are interested in n ational banks. insute permanence of relative value between gold and silver. As a proof of the statements and conclusions that I have come to, Now, it seems, Mr. Speaker, that notwithstanding all this talk I call attention to the dioerent Treasury reports which go to sup About the gold standard that the Republican party are not will port these statements: and I propose to let the country know ex ing to abandon this question of bimetallism. But I do desire to actly what the bond question and the national deht has done for say that the gentleman from Indiana r.Mr. OVERSTREET] in his the American people, and what you propose to perpetuate on this remarks has b een candid enough to make an admission of a fact country. which I intended to bring out in the few minutes that I bad to Now, let us see what bas been done. . discuss this bill-that it practically had no effect or any place in It is impossible to arrive at"all the details of the cost to the Gov this bill; that is, the section I have just read. In other words, ernment of creating and carrying its pul.llic debt. There a1·e so the bill itself, when it is put into operation, will absolutely, if not many items connected with it which·of necessity must b e charged effectually, prevent the very thing proposed in that section. When to ordinary expenses that any estimate based upon Treasury fig the holders of the outstanding indebtedness of the Gornrnment ures as to the cost of the public debt mu t be less than the actual have refunded their debt into gold-bearing bonds it will fasten cost. that system effectually upon the people. The Treasury books show that for the last forty years, which Now. this bill reminds me of theni.gge1·'sfish trap. You have it includes all expenditures for the civil war, and for the Spantsh set.to catch them going and coming: one end of it you have set to and Philippine wars, the receiIJtS of the Government. outside of catch the earnmgs of the taxpayers of this country and the other the r eceipts from l.londs and other evidences of indebtedness, have end to catch the suckers next fall at the election. [Laughter on been Sl3,Ul5,4.f8 ,573.01. the Democratic side. J That is just the object of it: it means that-: The expenditures of the Government for the same period, out no more, no less. But, Mr. Speaker, is not it true that in the acts side of the expenditures directly on account of the national debt, regulating the currency, this question has. not been dealt with in have been $11,222,157,481.13. If we had borrowed no money we any act in a candid manner? They carry deceit and fraud in would have paid all expense3 of government that have been in every act smce the war. [Applause on the Democratic side.] curred, and would have had a clear net ba ance in the Treasury Every one: and yet when this bill first had its origin in this of $l,793.291,00l.88. Or, in other words. during the past forty House you gentlemen on the other side came boldly to the front years we have collected an average of 845,000,000 annually more and simply demanded what you wanted. It was then unencum than was necessary to run the Government. bered by anything of this sort, and when it was sent over to the These figures. which are taken from the Treasury books, show other branch possibly you began to hear something from the coun conclusively that there never was a dollar needed: that the ordi try. It became necessary again for political purposes for you to nary receipts could have paid all of the expenditures and left an incorporate another promise whfoh you never intend to keep-.:. enormous surplus in the United States Treasury. RECEIPTS. EXPENDITU RES. Year. Receipts from Premiums. loans and Treas- Gro!!B receipts. Net ordinary Net ordinary Premiums. Interest. Public debt. Gross expendi- urynotes. receipts. expen~tures . tures. 1861. ______~.630.90. Sil.861, 709. 74 $83, 371, 640.13 $41, 476, 299. 49 $62, 616, 005. 78 _.., .. ___ ·-·-·- -- - $!, 034, 157. 30 $18, 737, 100. 00 $85, 387, 313. 08 1862 .•.••••.• 68,400.00 529, 69"2, 460. 50 581, 680, 121. 59 51,919,261.09 456, 379, 896. 81 ...... ---- ...... 13, 190, 314. 84 96, 097, 32"2. 09 565,667,563. 74 1863 . ••.••••• 602,345.44 776,682,361.57' 889, 37'9, 652. 52 112, 094, 945. 51 6!l4, 00'1, 575. 56 ...... ----- 24, 72!:1,700.~ 181, 081, 63.5. 07 899, 815. 911. ~ 1864 .•••••••. 21, lU, 101. 01 1, 128, 873. 945. 36 -1, 393, 461, 017. 57 243, 4l2, 971. 20 811, 283, 679. u 53, 685, 421. 69 430, 572, 014. 03 l , 295, 54J' 114. 86 lt'65 .•••••••. 11, 683, 446. 89 1,472,224, 740.85 1, 805, 939' 345. 93 322, 031, 158.19 1,217, 7CM,199.28 .$Ui7;900:ff 77, 395, 090. 30 009, 616, 141. 68 1, 906, 433, ~l. 37 1866 .••.••••. 38, 083, 055. 68 712, 851, 553. 05 1, 270, 884, lTd.11 5l!J, 949, 564. 38 38.5, 954, 731. 4.3 58,476. 51 133, 067, 624. 91 620, 263, 249. 10 1, 139, 3#, 081. 95 Out stand- . ing war- 5, 152, 771, 550. 43 7, 611, 003. 56 502, 689, 519. 27 2, 374 , 677, 103. 12 8, 037, 749, 17G.38 · rants . .••• ...... : ...... -...... , .. --- .... ------4, 4.f • 1900. CONGRESSIONAL · RECORD-HOUSE. -2853 RECEIPTS. EXPENDITURES. Year. Receipts from Net ordinary Gross expendi· Premiums. loans and Treas- Gross receipts. Net ordinary Premiums. Interest. Public deb~. ury notes. receipts. expenditures. tu res. ·1877 ••••..... $405, 776. 58 $348, 871, 749. 00 $630, 278, 167. 58 $281, 000, 64-2. 00 $144,209,963.28 ----·- .. --·-· -·- $97, 124, 511. 58 ~. 965, 424. 05 $-565, 299, 898. 91 1878..1879 ______...... 317, 10'2. 30 404, 581, 201. 00 662, 3!5, 079. 70 257, 440, 776. 40 134, 463, 452. 15 .. _...... --· ------102, 500, 874. 65 353, 676, 944. 90 590,00,271. 70 1, 505, ().!7. 63 79'. The above Treasury tables show that there has been received Year ended June 30- Principal re Premium during the past forty years from bonds and other evidences of deemed. paid. indebtedness, aside from the cost of issuing the same, the sum of $17,343,6-11,793.78. We have expended upon these bonds more 1869 -·-· - . - ... - ----. -----••.••• ·-·- •• ---· --·- -- ·- $8, 691, 000. 00 $1, 374, 850. 67 than we have received from the bonds-the sum of $951,664,661.10. 1870 -- -·-. • ·-·------·-·--- ... ------·-·-· 28, 151, 900. 00 3, 747,053.68 1871 - -. ··- - --··----· ·-··-· ------·-·- - --··- - • ---- 29, 936, 250. \JO 2, 542, 631. 20 We have practically paid none of the indebtedness, although we 187:& - .•. ·- ·-· ------·- ·-· - • ------· 32, 618, 450. 00 3, 935, 050. 3! have paid out $1,000,000,000 more than we have received. 1873 - -· ·-· - --·------·-·------·· - ---- 28, 678, 000. 00 3, 671, 258.17 It would cost us to-day as much money to redeem our indebted 1874 • ------·------·. ---·- - _; ··------12, 9'36, 450. 00 1, 395, 0'73. 55 1866, 11175 - •• --- . ------• ---• ------• ------~ -• -- - --•• 25, 170, 400. 00 ness as it would have cost us in when our indebtedness was 1876 - - • --- - ·-·------·---· -- • --·------• -··· 13, 444, 050. 00 at its highest point. We owe as much as we did then, when the 1877 • -··-- - -···-- ·------···------·------·-· 447,500.00 cost of redeeming the bonds is considered, and yet we have already 1878 ------·------·------·- ·---··-- 73,950.00 paid 50 per cent more than the entire original debt. 1879 - • ·----·------··------·-· - 18,500.00 1880 ------·-·- •. ·- - --· -- - ··-•. ··-· 73, 6.'i2, 900. 00 The following tables, taken from the books of the Treasury De l!lSl ______---·------· 74, 371,350. 00 partment, give a history of the bond transactions of the United 1882 - -·· -- . ------·---·------·-- - --·-- ·------60, 079, 150. 00 States Government: 1883 - ·----. -----·-. -··---···-·------·--· --·-·- «. 850, 700. 00 1884. -··-·. ·-·· ·--· •. ------· ---- - ···-· ---- - ·-·-· 46, 769, _600. 00 Amount at which Amount is- Amount. out 1885 ••. ··-. ---- ·-.•. ··---···- ··---- -··- -- . --- - ·-- 4.5, 588, 150. (I() Loan. sold. sued. standing. 1886 -. ·-·------.•• ---· ------41,5.31,350.00 1887 ----·- - ·--· --·------~ ---· -----·-·-· 47,8fl4, 200. 00 Treasury notes of 1861. ..••• Par to 1.27 per $35,364,450.00 $2,450.00 1888 - ·-·------. - --·-- ·-·-- --·-· -··· - ···-· 43, 725, l !>O. 00 cent premium. 1889 - ·-·-· •. --- ··------·------·-··------··· 39, 056, 150. 00 Oregon war debt ••.•••..... Par.·--·------1,090,850.00 2,500.00 1890. - ·--- ·--···. -···---···---· •• __ _._ ·-··-- --···- 39, 8!0, 400. 00 L~sfil.of July and August, .....do______189,321,350.00 29,550.00 1891 -· ···- - --···------·- ______._ - ··--· ----•••• ··-- «, 001, 750. 00 18fl2 ---··------·--·-· -····- -···-----·---- 2!, 310, 800. 00 Old demand notes ·-----·-·- ____ .do_--·-· __ --·· *60,000, 000. 00 53,847.00 1893 - ···--.• ----·. -·--·-. ·-. - --·-. ·------·--·-· 601,175.00 Seven- hirties of 1861.. ••••• A~~1i.f~~mi- 139,999, 750.00 9,400.00 1894 ------. -- ··------•••• - • ·-·· - •• --- ·------214,900.00 1895 ------··-- - ... ------• ---· -- ~ - 119,550.00 Five-twenties of 1862 ••••••• Average premi- 514, 771,600. 00 215,850.00 1896 ------•. ------•.•.•• - -. ------67,600. 00 um of 0.355. 1897 ------··----·-----·· ------·--- ·-·- 245,900.00 Legal-tender notes.------.. Par.------.• ·--··--· _----- 864, 681' 016. 00 1898 - -. ··-.• -----··-- __ _. ___ • · --•• ·-•. -- ---~. --··- 35,200,00 TemP.~rary loan .. ------···· .•... do------·-··-- * 716,099,274.16 2,8.">0.00 1899 --. ··-. ------· ------... - • --- • ----··· ---· 27,050.00 Certificates of mdebted- .•••• do-·---·------561, 753,241. 65 3,000.00 ness. Total __ ~--·· ---·-· ---- _ ----- ·------815, 139, 475. 00 '13, !J!JS, 454. '13 Fractional currency ___ ---· . --·.do ___ .•• _-·-·· * 368, 720, 079. 51 6, 881, 408. 66 Loan of 1863 ------··-·--- Average premi- 75,000,000.00 'i,100,00 The ~ollowing table shows the amount of bonds sold for green umof!.553. backs and afterwards redeemed in gold. with the price in gold at One-year notes of 1863 ----- Par------ «, 520, 000. 00 31,585.00 Two-year notes of 1863 ----- ..•.. do------·-· 166, 480, 000. 00 27,200.00· the time of the sale of the bonds, together with the amount the Comr,)Qu~d-interest notes ...... do ...... • ___ _ 266, 595, 440. ()() 167,330.00 bonds yielded in gold at the periods when they were issued: Ten-forties of 186! ______Par to7 per cent. 196, 118, 300. 00 20,050.00 Five-twenties of 1864. •••••• Average premi- 125, 561, 300. 00 15, 900.00 Price um of2.521. Loan. Amount sold. in gold I yielded~mounp m Se v86.5~n.·thirties of 1864 and Average premi- *829,992,500.00 123,450.00 · gold. 1 um of2.58. Five-twenties of 1865 ••••.•. Average premi- 203,327,250.00 21,850.00 ------.,.------·1------1 um of3.M7. Temporary loan (act of February 25, Cents. A 75,050.00 1862) ·----- ·--·-· --·--· ------. $716, 099, 247.16 81 $580,0i0,390.20 Consols of 1865 •• ------· .____ ~:aJiei.EJ~mi- 332, 998, 950. 00 Five-twenties of 1862 ...... ------514,771,600.UO 81 416, 904, 996. 00 Consols of 1867 .... __ •.. _. __ . A ~~eo.~~mi· 379, 618, 000. 00 123,100.00 Fractional currency (act of July 17, 1862). ------. ------·---··· -... ---· 368, 720, Oi9. 51 81 298, GG3, 264. 40 100, 000, 000. ()() 42. 8 42, 800, 000. 00 Consols of 1868 •••••••••••••• A~:al!eo.&fa~mi- 42, 539, 350. 00 11,250.00 Seven-thirties of 1864and1865 ------ Consols of 1865 .•..• ·------•...••.. 85, 155, Tho express charges for carrying the bonds, it is estimated, will amount To close its outstanding bond account would cost the Govern to $65.000, bills aggregating some ~ 000 already having been audited and approved, but which do not appear in the above total. ment a premium .of $195,000,000, according to the state of the mar 1f this is c01Tect, and there is no reason to doubt it, there has ket. The quotations show that the credit of the Government is been charged up to· the ordinary expenses of the Government constantly bein.g specu1ated with. Bonds are high one day and $85,93.3,002, which should have beet! charged to the expenses of low next day. The value of the bonds depends upon the credit of the public debt. This must be added to the 8 ~' 51,000,0 UO named the Government, and the brokers are willing. whenever they can above. This shows by the face of the Treasury books that the make a dollar by doing so, to cast discredit upon their Government exce s of payruents and the face of the indebtedne s now out and ''bear" the bonds in the market. standing is 5:.J,02J.59.4,099.02 more than we ever received from our The average interest-bearing debt of the United States since 1800 bonded debt or other evidences of indebtedness. has been SI ,~83,036,620. The expenses of premiums, interest. and The books of the Treasury Department show that $2,117,744,876 issuing the bonds have been $3,40'.3,190,8-10, an average annually of of bonds were sold for greenbacks which were worth at that time 887, ->35.602. Hence, although the Government had borrowed $1,612,UOS.202, and were sub ~ equently redeemed in gold. T'h1s money at as low a rate as 2 per cent, and the 2 per cent bonds now 1·educes the amount actually received for the bonds by the sum command a prnmium in the market, showing that its bonds will of S504,8Jo,07i3. This must be added to the cost of the loans, ~oat at that rate or-interest. yet the average cost of carrying the which makes the net loss up to date over and above the amount· mdebtedness of the Government has been fo1· the past thirty-nine received from the bonds and other evidences of indebtedness years u.3 per cent. amount to $3,5B0,430, 772.0~. I have figured from the following Tht3 interest-bearing debt of the United States in 1892 had.been table, which is official, the cost of redeeming the present out reduced to $58i3,U29,3il0. The noninterest-bearing debt at that standing indebtedness of the Government: time was $1,000,64 ,939. During the past eight years the interest [Quotation Supplement, Commercial and Financial Chl·QPicle, January 6, 1900.] bearingdebt has been increased to$1,043,W:8,750. The noninterest· United States Government securities. bearing debt has been decreased to $389,914,6rn. We are less in debt than we were eight yeaTs ago by $150.000,000, and yet our Sale prices in December, 1899. Range for year 1899. annual interest charge has been increased from $2~,000 ,00 0 to Uniteci States bonds. $40.000,000. Our noninterest-bearing debt has been deCTeased Lowest. Highest. Lowest. Highest. 8610,734,299. Our interest-bearing debt has been increased $4:61,· 019,420. Twos, registered (op- 102, Dec. 2 102, Dec. 2 99, Feb. 3 102, Dec. 2 tional). These figures, taken ftom the .Treasury reports. show conclu Threest{·e{ristered, ten· 109!-,Dec. 2 llOt, Dec. 21 loot, Jan. - 110!, Dec. 21 sively that the revenmsof the United States have at all times been twen 'es (l!ll8). more than sufficient to meet the expenditures of the United States, Threes, coupon, ten· 109, Dec.18 110,t,Dec.21 106!, Feb. 23 1101, Dec. 21 twenties (l!Jl8). and have, in fact, more than met the e:rpenditures of the United Threes, coupon, small 109•,Dec. 6 llOh Dec.23 108~,Ja.n. 5 110.}, Dec.23 States, and yet tbe interest-bearing debt of the nation has been (1918). constantly increased. The Treasury figures show tha.t the policy Fours, registered (1907). 112t,Dec. 1 lJ5, Dec.22 ill, Mar. 2 115, Dec.22 of the Gov-ernment is. and, for some time past. has been to collect Fours, coupon (lfl07). __ 113},Dec. 1 JJ5t, Dec. 21 112, Mar. 22 llfit, Dec. 27 Fours, registered <1925). 132t,Dec. 2 13-1:!,Deo. S 128, Feb. lo 134t, Dec. 8 as much from taxation as possible from the people for the exclui41ve Fours, coupon (19'Z5) .. _. 133t, Dec. ~ 13!+, Dec.12 1.28. Feb.10 lut, Dec.12 b 2nefit of the bondholders. AppendE' Year. 3percents. percents. 7.3 percents. Total interest· ~ percents. I t percents. 4t 5percents. 6 percents. bearing debt. $3, 632, 000. 00 $28, 130, 'i61. 77 ------.. - $31, 'i62, 761. 77 f~~:-~::.-::::::: ::::::: ;:::: :::::: :::::::::.=:: :::::: :::::::::::::: :::: :::::::::::::: :::: 3, 489, 000. 00 2!, 971, 958. 93 -...... ------28, 460, 9- . 93 18.58. ------·--· -----· ------·. ------·-----··-- 23, 538, 000. 00 21, 1132, S:lS. 11 ------#, 71Kl, 838. ll 1859. ------·---. ------. --- • - ·------~ -- --·- ---·-· • --··-. --• - --· ------·------37,127,800.00 21,] 6~. 938.11 ------...... 58, 29U, 7:>8.11 1860. ------• ·-· ------·------·-. ------·------~- ----·------43, 4'6, 300. 00 21.16!, 5.18. 11 ------6!, 64.0, 838. ll 1-861. ______------· ·------·------··------·- --···------···- --·- - 33, 022, 200. 00 57, 3.">8, 673. !);) !JO, 0, '73. 95 1862. - ---·---··-- ·-·-·· ------·-· - •. ·-- - - -.•• ---··------. $51, 926, 116. 57 ---··- ---·------· 30, 483, OOtl. 00 154, 313, 225. 01 ·-si~:5s2: 4&5: sf 361.,,. '826. 92 1863------·--·--·--- --··-----·--·--·-- ·-····--·····-··-- 1U5,G29,385.30 ·-····-···--·-···· 30, 483, 000. 00 431, 444, 813. 83 139, 974, 4'15. 34 7U7, 531. G3t. 47 1864. - - ---· - --·-· ------·------··------· - --·------. 77' 547, 696. 07 ------· ------300, 213, 480. 00 842, S.'12, 652. 09 13!), 286, 935. 34 1, 359, roo, 7ti3. 50 1865. - -·-·------·-- - --·-- --· --- - ···------· 90, 496, 930. 74 ------2'5, 709, 420. 63 l, 213, 4.95, lli9. 00 671, 610. 397: 02 2,2:!1,811,91 .29 1865-August 31. ______• ----- __ ·-----·--- _••••• --·--- --··-- 618, lj'j'. 98 ------·---. ____ _ 269, l 75, 727. 6.5 1, 281, i36, 439. 33 soo, mo, om. oo 2, 381, 5.10, 294. 96 1866- Joly 1 .... _ ------·-- --···· •••..• ·-··-- ---·-- ·-··-- 121, 341, 879. 62 -·---- _•.••. --···- 201, 982, U05. 01 1, 195, 540, an. trz 813, 4-00, 621. 95 2,332,:m,201.oo ]867. ------·------· ------••• ·--·------· 17, 737, 025. ti8 ------198, 533, -i35. 01 1, 543, ~.1)80. 02 4J!B, 34!, M6. 95 2. 218, 067, 3.'~7. U6 1868. -- ---· ---··- ---·-- $64. ()(X), {)(X), 00 ------· -----· 801,36\,. 23 --··------·-- 2'21, 586, 185. 01 l, 878, 003, 984. 511 37,397,Ulo.95 2, 2ll2, ' • 7:ff'f. 69 1869. - -·------·------66, 125, 000. 00 - -·------·----·--· - --·-- -- .. -- --·------·-· ------221 • 588, 300. 00 l,8U,34'i,~.39 ...... ------2, 162, 060, 5~. 39 221, 588, 300. 00 1, 7ti5, 317, 42'2. 39 ...... ---·-- ...... 2, O-l6, 4.f>5, 722. 39 m~: ::::: :::::::::~::: ~: ~: ~: ~ :::::: :::::: :::::: --···- "678~ooo.-ii) :::::~:::::: :::::: 27 4, 236, 450. 00 1, 613, 897, 300. 00 ...... ----·------1. 934, 006, 'i5Cl. 00 1872 __ __ "------2!,665, Debt oD which Cashin Total debt Year. interest Debt bearing Outstandfag the Treasury less cash in Annual interest ha.., ceased. DO interest. principal. July 1. Treasury. charge. $209, 776.13 ----- _...-...... ____ _ $31, 972, 537. 90 $21, 000, 584. 89 $10, 005, 953. 01 $1, 869, «5. 'iO ~~~~: ~ ::: ~ :: :: : : :·. :: :: :·_ :: :: : : : : : : ::: :: :::: :: ::: :::: : 238,87'i. 92 --·-·- ---·-· --·--- 28. 099, 831. 85 18, 701, 210. 09 9, 998, 621. 76 1, 672, 767. 53 1858 ..•. ------· ------·----·--·-----·----·-· ------· ---- 211,0!2.92 ------·------·-- 44., 911, 881. 00 7, 011, 689. 31 37, 900, 191. 72 2, 446, 670. 28 1859 ___ ··------· --• ·-· ---··· ---·-- --··----· ------·------206, 099. 77 ---·-- --·--- --·--- 58, 400, 637. 88 5, 091, 603. 69 53, 4-05, 234,.19 3, L.96, 166. 28 .Continued at 2 per cent. 1900. . CONGRESSIONAL RECORD-HOUSE. 2855 .Analysis of the p1·incipal of the public debt of the United States fr~uly 1, 1856, to July 1, 1899-Continued. Debt on which Cash in Total debt Year. interest D ebt bearing Outstanding the Treasury less cash in Annu1l 1nterest has ceased.· no interest. principal. July 1. Treasury. charged. 1860. -...•• ------. -· ··-. - __ .__ -- __ ·__ ------ $201, «9. 77 $64, 842, 287. 88 $-!, 877, 835. 87 $59. 96!, 402. 01 $3, 44S, 687. 29 lBOl .•.•.• ------·-· --·--· ·-·-·· --··------·-- Hl9, 999. 77 90, 580, 873. 72 2. 802, 212. 92 87, 718, UiiO. 80 5, 00-J, U30. 43 1&>2. -..•• ------·------·. - - • --- --• ------!?CO, rn;;.21 --Sir~: &9:t:aoo." Norn 1.-Annual interest charge computed on amount of outstanding- principal aj; close of fiscal year,ana is exclusive of interest charge on Pacific Rail- '· way bonds. NOTE 2.-The figures for July 1, lR79, were made up assuming pending funding operations to have been completed. NOTE 3.-The temporary loan per act of July ll, 1862. is included in the 4percents from 18ti2to1868, inclusive. with the exception of the amount outstand ing Auguf't 31, 1865. this b eini; the date at which the public debt reached its highest point. This loan bore interest from 4 per cent to 6 per cent, and was redeemable on ten days' nonce after thirty days; but being constantly chang!ng, it has been considered more equitable to include the whole amount out standing as bearing 4 per cent interest on an average for the year. The last official statement, January 31, 1900, was: B1~i~~~hl~~~~=~:~ has-ceased -~~e-~it\;i=rt:V::::: ::~ :::::::: ::: : :::: :::: :::: :::: :::: :::: :::: ::::::::::: :::::::~:::::::::=:::: :::::: :::::: $l, ~: ~: m: ~ Debt bearing no interest .....• --·-: ------· ...... •• ------____ .•....•• ----_------·------•••••••••• -----··------...... 390, 055, 740.16 Aggregate of interest n.nil noninterest bearing debt.------· ---·-·------···· __ ----·-·· ------~------·------1,418,127,200. 42 Certificates and Treasury notes off~t by an equal amount of cash in the Treasury -----•.•• ____ ---· ------~---- •••••• •••••• •••• ••.•.• 716, 048, 603. 00 Aggregate of debt, including certificates and Treasury notes------·------···------·------2,13!,175,803.42 . . The following is a statement of the average relative values of gold and United States paper currency in the New York mai·ket from the suspension to the resumption of specie payments, during the period of seventeen years from 1862 t-0 1878, both inclusive: [Prepared by the United States Treasury Department.] CURRENCY VALUE OF GOLD. Table showing the average value in currency of $100 in gold in !he New Yorlc market, by nionths, quarter years, half years, cale-ndm· years, and fiscal years, from . January 1, 1862, to December :11, 1878, both inclusive. . Period. 1862. 1863. 1864. 1865. 1866. 1867. 1868. 1869. 1870. 18Tl. 1872. 1873. 1874. 1875. 11876. 1877. 1878. January .••• ____ ------•••••• ------102.5 145.1 155.5 216.2 HO.l 134.6 138.5 135.6 121.3 110.7 109.l 112. 7 111.4 112.5 112.8 106.3 102.1 February ------· ·------·--·------••.•.. 103.5 160.5 158.6 20.!J.5 138.4 137.4 141.4 134.4 119.5 111.5 110.3 lH.1 112.3 114. 5 113.4 105.4 102 March------· ••.••• -~-- ·-·------101.8 IM.5 162.9 173.8 130.5 135 139.5 131.3 ID.6 ill 110.1 115.5 112.1 115.5 11!.3 IIH.8 101.2 101.5 15L5 172. 7 148.5 127.3 135.6 138. 7 132.9 ll3.1 110.6 111.1 117.8 113.4 lH.8 113 106.2 100.6 ~;n_:: ::::::::: :::::::::::~:~::::::::::: 103.3 148.9 176.3 135.6 131.8 UJ7 139.ti 139.2 114. 7 111.5 113. 7 117. 7 112.4 115.8 112.6 100.9 100. 7 .June..•.• ••• ·------· --· 106.:; 144.5 210. 7 140.1 148. 7 137.5 140.1 138.1 112.9 112.4 11.:3.9 116.5 111.3 117 112.5 105.4 lO'l.8 July _------•••••• ·------·-- 115.5 100.6 258.1 142.l 151.6 139.4 14-2. 7 136.1 116.8 112.4 lH.3 115. 7 110 114.8 lli.9 105.4 100.5 August_----- •• ----- ••..•. ------. -··------114.5 125.8 254. 1 143.5 H8.7 H0.8 145.5 134.2 117.9 112.4 114.4 115.4 109. 7 113.5 111.2 105 l fJ0.6 September-----.------___ ------ll8.5 13!. 2 22'J.5 14-'3.9 145.5 143.4 143.6 136.8 114.8 114.5 113.5 112. 7 109.7 ll5.8 no 103.3 100.4 Octobe1' _.•••••.•••••.•••••••.•• ------· 128.5 147. 7 207.2 H5.5 148.3 143.5 137.1 130.2 112.8 113.2 113.2 lfl8.9 110 116.4 109. 7 100.8 100.6 November . ------·--··· ••.••• _••••••••••• 131.1 148 233.5 147 14-'3. 8 139.6 134.4 126.2 111.4 lll.2 112. 9 108.6 110.9 114. 7 109.1 100.8 100.2 December ------______------····----- l~.3 151.1 227.5 1!6.2 136. 7 13!.8 13.5.2 121.5 110. 7 109.3 112.2 110 111. 7 113.9 107.9 102.8 100.l First ~uarter year.------·------102.6 153.4 159 198.5 136.3 Ul5.7 139.8 133.8 117.8 lll.1 109.8 114.1 lll.9 114.2 . 113.5 105.5 101. 7 Secon quarter year·------·-····-- 103.8 148.3 18G.6 141.4 135.9 136. 7 139.5 136. 7 ll3.6 111.o 112. 9 117.3 112.4 115.9 112. 7 106.2 100. 7 Third qun.rter year . ... ______... 116.2 130.2 24!.9 143.2 148.6 141.2 143.9 13.!J. 7 116.5 113.1 114.1 11!.6 109.8 114. 7 111 10!.6 100.5 Fourth ~uarter year ----- •••••••••• 130.6 148.9 222. 7 146.2 142.9 139.3 13.5.6 126 111.6 111.2 112.8 109.2 110.9 115 10~.9 102.8 100.5 First ha~ear · -··· ·------····----· 103.2 150.8 172.8 169.9 136.1 186.2 1B9.6 135.3 115.7 111.3 111.4 115. 7 112.2 115.l 113.1 105.9 101.2 Second year.·------•••••. 123.4 139.ti 233. 8 144. 7 145.8 140.3 139.8 130.8 114 121.1 113.4 111.9 110.3 114.8 109.9 ·100. 7 100. 4 Calendar year ...... _____ •.•...• ------113.3 145.2 203.3 157.3 140.9 138.2 139. 7 133 ll4.9 111. 7 ll2.4 113.8 lll.2 114. 9 111.5 104,. 8 100.8 Fiscal year ended June 30 ••••••••••• ------137.1 156.2 201.9 140.4 141 139.9 137.5 123.3 112. 7 111.8 114:.6 112 112. 7 113.9 107.9 102.5 OOLD VALUE OF CURRENCY. Table showing the aveJ·age valite iii gold of $100 in currenc1J in t7te New York market. by montli.s, quarter yea1·s, half years, calendai· years, and fiscalyeai·sJrom January 1, 1862, to December 31 , 1878, both incl'Usive. Period. 1862. 186.3. 1864. 1865. 1866. 1 1867. 1868. 1869. 187C. 1871. 1872. 18.73. 1874. 1875. 11876. 1877. 1878. 97.6 68.9 64.3 46.3 72.2 73.7 82.4 90.3 91. 7 88. 7 89. '1 88.91 88.6 9! 97.9 96.6 62.3 63.1 48.7 •uJ72.3 ....72.8 70. 7 74.4 83.7 89.7 00.7 87.6 99.1 '87.3 88.2 94..8 98 ~~~i~~~:::::::::::::-.::::~:::::::::::; 98.2 ~7 61.4 57.6 76.6 7~1 71.7 76.2 88.8 00.1 00.8 86.6 89.2 86.6 87.5 91.4: 98.8 • 2856 CONGRESSIONAL RECORD-HOUSE. MARCH 13,- Table showlng the average value in. gold of $100 in currency in the New York market, by months, etc--Continued. Period. 1862. 18e3. 1864. 1865. 1866. 1867. 1868. 1869. 1870. 1871. 1872. 1873. 187'!. 1875. 1876. 1877. 1878. ------April--···· ...... 98.5 66 57.9 67.3 78.6 73. 7 72.1 75.2 88. 4 90.4 90 84.9 88.2 87.1 88.5 94 . ~ 99.4 Mai .•..•....• -····· •••..• --···· ••...... 96.8 67.2 56.7 73. 7 75.9 73 71.6 71.8 87.2 89. 7 88 85 89.9 86.3 88.8 88. 5 !19.3 June .....•••..•••...••...•.•.. ----...... 93.9 69.2 47.5 71.4: 67.2 72.7 71.i 72. •l 88.6 89 87.8 85.8 90 85.4 88.9 94.9 99.2 July ...... ------··· ....••...... 86.6 76.6 38. 7 70.4 66 71. 7 70. 1 73.5 85.6 89 . 87.5 86.4 91 87.2 89.4 !Jt.8 99.5 87.3 W.5 39.4 69. 7 67.2 71 68. 7 74.5 84.8 89 87A 86. 7 91.2 88.1 89.9 9'>. 2 99.5 t~~b6r·::::::=====:::::: ======:::::: 84.4: 74.5 4:-1.9 69.5 68. 7 69. 7 69.6 73.1 87.1 87.3 88.1 88. 7 91.2 86.4 00.9 96.8 !J:l. 6 October·········--··········-············ 77.8 67. 7 48.3 68. 7 67.4 69.7 72.9 76.8 88. 7 88.3 88.3 91.8 91 8.'>. 9 91.2 97.3 99.5 November ••..••.••....•....•...... •..... 76.3 67.6 42.8 68 69.5 71.6 74.4 79.2 89.8 89.9 88.6 92.1 90.2 87.2 91. 7 97.3 99.8 December ...... 75.6 66.2 « 68.4 73.2 74.2 74 82.3 90.3 91. 5 89.1 90.9 89.6 87.8 92.G 97.3 99.9 First ca_uarter year ...... •... 97.5 6.5.2 62.9 50.4 73.3 73. 7 71.5 74.7 8!.9 w 91 87.6 89.3 87.G 88.1 9-!. 8 98.3 Secon quarter year •.....••..•...•. 96.3 67.4 53.6 70. 7 73.6 73.2 71. 7 73.2 88 89.7 88.6 85.3 89 86.3 88. 7 9-.l.2 99.3 Third quarter year .....•..•••.••.... 86.1 76.8 40.8 69.8 67.2 70.8 69.5 73.7 85.8 88.4 87.6 87.3 91. l 87.2 90.l !15 6 99.5 Fourth quarter year ...•...... 76.6 67.2 4i.9 68.4 70 71.8 1a. 7 79.4 89.6 90 88. 7 91.6 90.2 86.9 !:11.8 97.3 99.7 First half year ...... •...... !!6.9 66.3 57.9 58.9 73.5 73.4 71. 6 73.9 86.4 89.8 89.8 86.4 89.2 86.9 88.4 9-1. 4: 98.8 .Second half year .....•...... ••..•.... 81 71.6 42.8 69.1 68.6 71.3 71.5 •6.5 87. 7 89.2 88.2 89.4 90.7 8•.1 911. 9 90.4 99.6 Calendar year .•...... ••.... 88.3 68.9 49.2 63.6 71 72.4 71.6 75.2 87 89.5 89 87.9 S!J.9 87 e9.8 95.4 99.2 Fiscal year endt1d June 30 .••...•.... 72.9 64 49.5 71. 2 70.9 71.5 72. 7 81.1 88. 7 89.4 87.3 89.3 88.8 87.8 9'~. 7 97.6 Another thing that I want to impress upon your minds is that ness in the light of day its triumph over a nation of free people. these gentlemen in manipulating this public debt have managed (Applause.] - to decrease the noni.nterest-bearing debt more than half a billion The day that President McKinley signs this bill, which be will dollars and at the same time increase the interest-bearing debt to do, for he has no power to resist, will witness the transfer of the about the Eame amount. All the time, at every turn, at every sovereign power of the Government to control the circulating point, they are taxing the people of this country in order to sup medium of the country to the national banks. port this b3.nking system which they have inaugurated. It is the sunender of the functions of the Government intended Now, there is just one sovereign remedy, and that is the equali to be exercised for the benefit of all the people to private corpora zation of taxation in this country. If such a system existed to tions ·for their own benefit, and which they can exercise to the day, you could not pnss this bill to save your lives. When the great injury of the people and the Government. (Applause.] day comes that the National Government shall levy and collect its It will mark the blackest page in our legislative history, and taxes like the States, like the counties, like the municipalities will be a living monument to theper.fidyof the Republican party, when national taxation shall be based upon a rule that every man in its complete surrender to the trust influences of the country. should pay taxes on what he is worth-then you will see that in (Applause.] stead of such measures as this and others of like characte1· which Their money placed you in power in 189G. You mortgaged the are forcing themselves upon Congress-instead of these bondhold integrity of your party to secure their boodle, and this bill repre ers, these lobbyists, thronging the corridors of this Capitol, sub sents their judgment of foreclosure against you, and humanity sidizing newspapers and by every other possible means trying to must pay the enormous penalty. There is no immediate necessity extort taxes from the people of this country to satisfy their greed for the passing of this bill, even from your own standpoint. And you will find they will be the first men here to oppose this class of by its immediate passage you only seek to put up the burs agaiast legislation and to stop it. (Applause.] . the Democratic party, which will take charge of the governmental Is it not so in the States? ls it not so in the counties? Is it not affairs on the 4th day of next March. And you only hope to tie so in the municipalities? Upon what basis this equalization will their hands and forestall legislation in favor of the people. be brought about I do not know, but I am confident this is the I warn you that you have reached the limit of your excesses. coming issue. There is no question about it. The time has come Already the evidences of your overthrow are multiplying thick when the people of this country will not longer submit to the un and fast. Disintegration has set up in your party. Yam· own just taxation that is now put upon them. Your railroads that are people are rebelling against you, and the notes of their s~pe!'s ede~ tJ:ie necessity of inviting public attention to the ques-J DA GER OF Th""FLA.TION. • tion at this time. Some ha d h · f 'nfi · The Presjdent of the United States made an honest and sincere rency It v::i::£~e:s:dm~~f~~ funswn ~ a~.J0 atrnn ~f dthe. cur effort to carry out the purposes of the Republican party in 18!:i 6. I redun.dant . . erea m.e • ~ connec e with a. It was not attenued with success; and, moreover. it demonstrated until miRch~~f~:a_cg;;e T~~~~rn ~noerous evils, Lecause nhotseeu the a~solut~ unac~eptability of the proposition to the leading com- danO'ero~s fol' they ~om . evi s ar~ . seeilas ~oon asTth ey are mercml nations of Europe, and rendered impracticable and unde- no~ce th~ir own approaechinano ques lOnah e s, _ape. e.dY ahn sirable any further propos· 1 ·t f . th ti. t 1 t ' s some one as oi.;servec1 , an t e . . . ~ 0 n ou~ pat , OI e me a eas , general security is preserved by the general alarm Th. · t looking to mternational umty of action on the silver question. be sa~d vernment of the United States bad no participation in this," trol the circulating medium of the country and provide for the said the Secretary of the Treasury," and yet the effect of it was maintenance of its parity with the standard money. It has been to would be current all over the country, was the chief object of the CHECKS O~ EXCESSIVE ISSUES. first Bank of the United States, and one of the considerationB that Th~re bas been much conjecture on the results of the operation led to the Federal Convention of 178'1 to draft a Constitution. of thIB measure. Those who know least about it have said the Washin~ton fortsaw. some writers say, that the confidence re most. So do m.en darken counsel "'_Vith words without knowledge. posed in the United States lmder the Constitution would impart A man: so w~ mformed as Fredenck D. Tappen, president of the to whatever currency was authorized by Congress greater authority Gallatin Nat10nal Bank and, I thjnk, president of the Clearina and valuetha? could attach toanythingemauatingfromanyState. House Associ~tion of New York, declined to express an opinio~ Webster said that the fathers who made the Constitution fore upon the sub.1 ect, because no man knows what the result will be. saw t~at paper currency bearing the mark of the Union, the Some have pro}lhesied an enormous increase of bank circulation American eagle, would command universal confidence through even to the extent of $500.000,000. The more conservative out. the country. There were more 1·easons, said he, for the pros behev~ there wm be a. gradual incre~e in circulation as the require penty of the national bank than the utilities it was so well calcu ments of trade rncrease, but d1ssent entirely from the view that l~ted to perfo1·m. There was something that touched men's sen there will be a sudden and grnat increase in bank issues. timents as we1l as then· understandings. There was a cause which There are three natural checks upon excessive issues of bank ca.rried the credjt of th~ new-born bank as on the wings of the cur~ency: First, in the operation of redemption, any considera wmd to every quarter-of the country. There was a charm which ble mflation of bank notes would cause them to be seut in for created trust and faith and reliance, not only in the great mart.a of redemption to the Treasury in large amounts, and the issuing commerce, but in every corner into which money could penetrate. ba~ks would have to put up the lawful money for the purpose, That cause was its national character. It had the broad seal of which would deplete their reserves. These notes are not leO'al the Onion to its charter. J;t was the institution of the nation. tender and can not be held as reserves, and unless banks can k~ep If pape-r is to circulate as subsidiary to coin or as pe1forming in them in circulation they are entirely usele s. In the second place, any degree the functions of coin, its regulation naturally belongs the demand for bonds to exchange for the 2 percents would ad to the hands which hold the power over the coinage. vance the price beyond the limit which would make it profitable The power ~nd the duty of the Federal Government to regulate to use them for banking purposes, in which ca.Re banks would ~he c~rrency is now very generally conceded. The power over it q?f te H~ely sell bonds to make the profit rather than take out is denved from the power to regulate commerce. Webster insisted circulation. that the actual circulating ruf3dium of the country was an instru ln the third place. the limit upon the retirement of currency of ment and means of commerce and the General Government is $3.0D0,000 ~ montJ:i w ill make bank vvry cautious about taking bound to take care of it and see that it is safe. He declared that: out more cir'?ulation than they will be able to keep out profitably, It is th!3 constitutional duty of the Government to see that a proper cur for once out it m1gbt have to remain out for some time before it rency, smtable to the c ircumstances of the time and to the wants of trade and business be maintained and preserved. If the cm·rency is not to be pr.. served could be .retired.. T~ese several checks will operate automatically by th3 Government of the United States, I know not how it is to be guarded to restram excessive 1Ssues of bank culTency under the pending against constantly occurring disorders and derangements. measure. It may be assumed tbat the 10 per cPnt authorized to The fatbers never questioned it. Martin Van Bmen was the be issued on bonds deposited will be put out. Tbat will amount first President who tumed his back upon this doctrine. He said to some 8~4.000,000 . in round numbers. which is scarcely more than 1 per cent of the volume of our circulation, and willproduce in his first message to Congress: no maTked effect. If, th.erefore, I refrain from sugge ting to Congress any specific plan for That a. number of small banks will be organized there is no re!E"Ul~trn~ the curr~ncy, it is from a. conviction that such is not within the con.st1tut10nal provmce of the General Government. dou~t .. The number of applications to the Comptroller alrearly on file mdicate wh~t we have to expect in that direction. There is No statesman of repute had ever taken that position before no reason to behave, however, that new banks will exceed the ex Madison, after the war of 1812, said: ' isting need for additional facilities in the South and West, where It is essential that the benefits of a uniform national currency should be great inconvenience has been suffered for lack of banks. restored to the community. If the. public deposits s~oul<;t be withdrawn, it is not unlikely After the second United States Bank was incorporated Madison there will be a correspondmg increase of bank issues to take the said: place of the withdrawn funds. This operation, however, will take p~a.ce not suddenly. but slowly, without disturbing financial con For the intere~t of the country at large it is es:>ential that the nation shall d1t10ns. As the exchange of bonds proceeds the premiums will be possess a ~nr1:ency o~ equal value and credit wherever it may circulate. The Constitution has mtrusted Congress with the powe1· to regulate such a paid from the public funds in the banks, so that the latter will still currency. have the use of the money to that extent. No one believes that 1900. CONGRESSIONAL RECORD-HOUSE. 2859 more than half the outstanding exchangeable bonds will be re body of citizens of all parties can, in the last hour, be kindled into funded at an eady day. This will can for only abou~ $!3,000,UOO action by sparks from the glowing altar of patriotism. in premiums. which would reduce the public deposits to about A L01'G STEP IN ADVANCE. $68 000,000. It is more than likely that this amount will remain This appeal to patriotism would perhaps be -unsuitable but for in tbe banks for some time, and when withdrawn it will be so the fact th.at this measure appeals to the patriotism of Congress. graduallv as not to cause any disturbance. If there is a real I believe it is a long step in our upward march toward the pressure.for. currency, the bonds released. ~oun~ing t~ the sum splenuid preeminence we are achieving among the great world of the premiums paid. may be used as a basis of cll'culat1on. powers. Our financial independence of the Old World is practi It is suggested by the Secretary of the Treasury that the ~x cally achieved. Great and surprising things have come to pass in change of bonds will begin not earlier than the 1st of April. _and the last twelve months. .American cTedits in Europe are chang at that date it is e timated that on the basis of exchange provided ing the face of the grea t questions of finance the world over. A in the law the value of the old fours will be $111.67!:!5; of the fives, portion of the recent Britjsh war loan sought American takers and $110.0751; and of the threes, 810.3.6851. These values will fall found them eager to invest. 'l'his came swiftly upon tbe heels of from day to day, making. according to an estimate I have seen, the financing of a Russian loan of S2.3,0UO.Ou0. likely to be in :the values on April 15 for tbe fours, $111.6194; for the fives, creased by as much more: and we will supply all this ruoney, as Sl09.!)761; and for the threes. Sl0·'>,.6607. . . . we supplied the $'20,000 000 to pay our debt to Spain, without In making the exchanges the difference m amount will be paid shippmg one dollar of gold. Trade balances are so heavily in our by check mail ed to .tho::;e sending in the old bonds. favor that we could pay for all the European bonds we deaired to If the premium on the new twos should go to a figure that buy by tbe machinery of foreign exchange representing our credits would offer an inducement for persons to purchase the old bonds on the other side of the sea. to exchange for the new for the purpose of selling them at .a high I tell you, my friends, these are momentous transactions, and premium for the profit, the Secretary · wo~ld no doubt_ modify tJ:ie they have a stupendous significance. They denote the marvelous Go•ernment rate of exchange so as to discourage this traffic m development of American enterprise and the amazing growth of bonds for gain. He is not bound by this bill to make the exchange the capabilities of the United States to command the markets and of the old bonds for the new at as high a return to the investor as control the finances of the world. So you see, my friends, that 2t per cent, but is only limited to a valuation not greater than financial empire is coming our way. We are advancing rapidly that. He would be at liberty, it is maintained. to change the rate toward the position of a creditor nation. In the financial world of exchange at any time on the ground of the high rates at which power and domination follow in the track of commerce and manu the new bonds are being quoted on the market. The operation of factures, and the scepter of power is passing from the Old to the refunding, it must be remembered, is an option, not an obliga New World. Ere long. Mr. Speaker, New York will have sup tion, on the part of the Secretary of the Treasury. planted London as the clearing house of the world. Eb-i>LESS en.A.IN. I hail the alluring pr0spect, and I entertain the fervent hope There is also an utterly groundless criticism that this measure that the representatives of the American people will rise to the keeps the endless chain in operation. Nothing could be farther level of this new occasion that teaches new duties. This measure from the truth. It is uot possible, in case of the depletion of the is a part of the great forward movement leading upward to the gold reserve to such an extent as to make a loan necessary, for a g-t:lteway of our great opportunity. It is one terrace in the heights dollar of the greenbacks which passed ~om .the re~erve .to the of destiny we are climbing. The gates of the East and the South general fund of the Treasury to go back mto cITcuJat.on Wlthout are open, and the immeasurable possibilities of world commerce being covered by gold or its equivalent in bonds, which are always invite us. A merchant marine commensurate with our resources, worth their face in gold. our power, and empire will suon be among our achievements. A AN APPEAL TO PATRIOTISM. naval armament worthy a nation capable of deeds of such un rivaled splendor on the sea as shed undying luster on our naval I would like to make an appeal to the patriotism of my brethren heroes in ourrecentwarwillsoon beamongour possessions. This on the other side of the ais.e for some votes to support this splen Republic is rising into prominence as a coequal with the great did measure. Oh, it is not .. casting pearls before swine." Not world powers, and will be a conspicuous factor in the world prot.. at all No appeal was ever made in vain to the patriotism of any lems which loom in the near future. class of American citizens. Are you not also patriots before you Now, Mr. Speaker, who is not inspired with the thought that are partisans? Though your_brains I?ay soften before the logic ~f a great and noble destiny solicits our country? We must either the situation, your hearts will certamly not harden to the senti go forward to meet it and achieve the primacy among nations or ment of patriotism. Yori still love your country, and honor and turn our backs upon it and fall to that second rank to which our reverence its increasing glory. I see the faces of some of my most isolation and lack of spirit must assign us. And when we do that, loved triends on that side of the aisle lighting up, and I see a nod Mr. Speaker, the patriot who turns his eyes toward the figure of assent to that proposition, denoting that they are not behind that surmounts this Capitol will see America standing with the rest of us in appreciation of the sentiment of patriotism. But averted face weeping Columbia's shame. Let us then enact this patl·iotism must hrn jn the soul before it can move the heart to measure into law in the true spirit of American progress, that love or nerve the arm to strike in defense of the country. spirit which will make us equal to our great opportunities and Dr. Lyman Abbott says when Jenny Lind was in this country worthy our manifest destiny. (Prolonged applause on the Repub- he hea1·d her in the oratorio of the Messiah. As he sat in his ~ea.t licanside.] · there came in and sat by him an old weather-beaten sea captain. THE UNITED STATES .Al'm SILVER. ·When she sang "Come unto Me all ye that labor and are heavy Mr. Speaker, I desire now, with some care and deliberation, to laden"- consider the attitude of the United States towru.·d the question of It seemed to me the freE'I coinage of silver at the ratio of 16 to 1, and their responsi He said- bility for the depreciation of silver and the consequences ensuing ! could hear the voice of the Master singing down through tl)e years. T~e therefrom. The question of coinage in its true character is an hall was hushe,1 aud silent when she took her seat. Then I heard a noISe economic rather than a political question, but it is a branch of the and turned around, and the poor old sea captain was sound asleep and snoring. money question which the patriotic efforts of statesmen have not Said the doctor: been able to keep out of politics. \Vhy did he not hear what I heard? Because there was no music in his In one or another of its forms it bas engrossed the attention of soul to r espond t o the music of the organ and of the singer. the American people for many years. In 18l:J6 our quadrennial So perhaps we must have patriotism in the soul before we can inquisition on our political affairs took up the specific question of respond to the call of our country. When buttheotherdaythose the free and unlimited coinage of silver at the rat o of 16 to 1, and great waves of the music of patriotism were sweeping over the after elaborate, thorough, and painstaking discussion, reaching land, thrilling the souls of men, swelling from the harp of a thou perhaps more nearly than ever before in our history every fireside sand strings in the great heart of the American people, there were in the land, determined the matter adversely to the free-silver a few sound asleep and snoring, because they had no patriotism in propaganda and declared for the existing standard until by int ~r their sou·s to rE:spond to the strains that touched and stirred the national cooperation the free coinage of silver could be attained loyal hearts of all true Americans. without peril to our national interests and honor. From that de Mr. FOSTER. What is your definition of patriotism? cision an appeal is pending. In 1900 a retrial will occur, and the Mr. BROSIUS. Why, my friend, I will tell you what patriot court of last resort in our political system, the people themselves ism is. It is not a mere ephemeral passion that lives- a minute in their sovereign capacity, will review their former decision, and expires. Patriotism is an enduring emotion, an eternal ray affirming or reversing it as in their patriotic judgment the honor that kindles the soul of the patriot into the glory of service and and interest of the country demand. sacrifice for country. No mightier issue ever appealed to human judgment. No con Mr. FOSTER. And yonr party has lost it. troversy in tb.e arena of American politics since the war has ::rtfr. BROSIUS. Now, my friend will patdon me. It is a hap affected vaster interests or had more far-reaching consequences piness to know that the Americans who are dead to love of country to all the people. .Never has popular solicitude been greater; are few in number and feeble in influence, and that the great never have the claims of sound judgment and patriotic action 2860 CONGRESSIONAL RECORD-HOUSE. MARCH 13, / pressed with greater urgency; never were po1itical and economic observe the distinction between the demonetization of silver vagaries mo1·e menacing, and never the promise of beneficial re· coins-that is, the destruction of their monetary character-and sults from right action more inviting than in this impending battle the restrictions imposed upon the coinagE!' of the bullion. royal. In such a situation it gives us hope and courage to realize The demonetization of coined silver by Germany and the Scandi that in such formidab'e exigencies true Americans, the unselfish navian countries destroyed the monetary character of all the full and heroic, instinctively feel that their country is greater than legal-tender coin so treated. It. converted coin into commodity, their party; that they ought to be patriots before they are parti and to whatever extent this occurred it manifestly increased the sans, and will therefore yield to the olicitations of duty and rise supply and lessened the demand for silver. Restriction on the sublimely to the highest outlook of patriotism. coinage of silver to whatever extent it was carried likewise les· · The reargumemt is already on. Distinguished advocates of the sened the demand for that metal, but to the extent it left un free coinage of silver have already in this Chamber and elsewhere touched the existing coins it clid not increase the supply. As far invoked the cons ~ derate judgment of the American people in be as it goes, this observation is a concession to the contention of our half of their cause by as good reasons and as sound arguments as adversaries. But it must be kept in mind that the gist of the their intellectual limitations and. the inherent difficulties of their matter is not a mere theoretic tendency. but a sensible effect suf task w1ll admit. If their contention betrays a lack of wisdom it ficient to have a title to be reckoned with in the general treat is fully compensated by excess of zeal and amplitude of assurance. ment. In economics, as in law, trifles are omitted from consid· Of the integrity of their purpose no question is permissible. erati on. The ardor of their exertions demonstrates the sincerity of their What. then, has been the extent of actual demonetization since convictions. Whatever we may think of their conclusions, we 1870? The countries which demonetized their silver coins from must make to their advocacy the concession which Peter made to 1871to1879 are Germany, Norway, Swedeu, Denmark, and Rou Paul when he observed that •'according to the understanding mania. The amount sold by each country was as follows: given him our brother Paul hath spoken unto you.'' My purpose is to submit to the House and the country some re flections with a view to correcting some of the error into which ~{~~!t~!~~~~~~~~~i~~==::::::::::::::::::::::::::·:::~::::::::::::: $14~:~:~ the uninformed as well as the misin1ormed may have fallen and to expose some of the fallacies in the logic of those who have un Total·-···--····-····--·······-··"··-·-····-····-···-····-····· 163,430,465 dertaken the arduous task of demonstrating the wisdom of the This is the sum total of silver coin that was actually demonetized free coinage of silver at the ratio of 16 to 1 by the United States in the period referred to, an amount much less than the produc alone. In this discussionitis to be noted that the figures used cover tion of any single year since 1890, an amount scarcely exceeding 5 ~period of twenty years prior to 1873 and a similar period tbere per cent of the world's product dming the twenty-four years from atter. 1873 to 1897, which is estimated at Sii,116,000,000; or, putting it in The fundamental postulates of the free-silver advocates may be another form. if we divide the total production in the twenty-four thus stated: years into annual quotas and distribute the amount of demonetized First. That the alleged demonetization of silver by legislation coin over the entire period, it would result in an addition to what in the leading commercial nations deprived that metal of its mone was extracted from the mines to be charged to demonetization of tary function, cut in two the volume of the world"s money of ulti an amount each year equal to 5 per cent of the annual product of mate redemption, throwing a double burden on gold, causing its the world. It remains, however. to be said that these sales of sil· appreci.ation, the depreciation of sliver, and the fall of pricesgen ve1· were made prior to 18i9. and whatever effect they lrnd was eraily. exhausted by that time. There is a fact, m01·eover, in this con· Second. That the United States by the act of 1873 had an agency nection which must not be overlooked. Simultaneously with the in and a corresponding responsibility for the results which ensued sale of silver by Germany and the Scandinavian states, the Latin upon the general movement of the world against silver, and that Union coined from 1873 to 1878, in 5-franc pieces alone. $142,000,000 the only way to atone for her wrongful act and right the alleged of silver, almost enough to offset the amount dem•metized. wrong to the American people is to repeal the act of 1873 and re Now, taking into view the $1,000,000,000 of silver money sup· ·store the freedom of the mints to silver at the ratio of 16 to 1. posed to be in use in the world and the trifling effect upon the Third. That the reestablishment of free coinage at the ratio of monetary relations of this stupendous total the loss of so small a 16 to 1 by the United 8tates alone would restore the commercial sum as I have shown to have been demonetized could by any parity of the two metals at that ratio. possibility have exerted, I submit with great confidence that the It is susceptible of easy demonstration that every one of the proposition that the actual demonetization of the world's silver assumptions embodied in these propositions is entirely destitute of money, giving it its utmost effect, free from the modifying influ warrant and without the support of a single well-authenticated ence of the countervailing circumstances of enormous additions fact or qf a single conclusion on grounds of general reasoning in to the coinage of the world and the high ratio of increase in the whieh there is any conspicuous concurrence of scientific opinion. world"s silver production, has had any considerable agency in the To bring into distinct view the propositions which I desire to ~ecline of silver overtaxes the credulity of the average mind. argue. and the establishment of which will effect the complete overthrow of the assumptions to which I have alluded, I asse1·t: "RESTRICTION UPON COINAGE. First. That the alleged demonetization of silver did not de It is a well-known fact that the great bulk of silver money in prive it of its monetary function and did not cause its deprecia u ~ e throughout the world in 1871, either as standard or token tion and the general fall in prices except to a very limited extent money, continued to be so used after that date and is so used at in connection with other causes. this time. For example, Germany has 400,000,000 marks in silver Second. That the United States had no agency in and no re thalers. France and other States of the Latin Union have about sponsibility for the results. whatever they were, of the general 3,000,000,000 francs in 5-franc pieces. Holland has kept all her movement of the commercial world against the free coinage of legal-tender silver, and likewiseAustria-Hungary. In the light of silver, but, on the contrary, those results transpired in spite of the this fact let us consider the extent of the e:ff ect of coinage restric most strenuous and heroic exe1·tions on the part of this country to tion upon the volume of the world ·s silver money during the period upho ~ d the price of silver. from 1873 to 1893. Students of the subject are of course familiar Third. The United States having no responsibility for the con with the enormous increase in the silver coinage of the world in ditions alleged to exist on account of the demonetization of silver the latter period as compared with the corresponding period prior and, could not prevent them by the most herculean exertions she to 1873. In the four great commercial countries-Great Britain, could oppose to them in their inception, she is nnder no duty at Germany, France. and the United States-there was double the the peril of her own interests to open her mints to the free coinage amount of silver coined in the later than jn the earlier period. of silver at 16 to 1 and if she did so it conld not avail to restore The following statement exhibits the interesting and instructwe the commercial parity of the two metals, but would only result m fact relating to the countries named: p lacing this country upon a silver basis. Now, can the first of my propositions be maintained, namely, Statement of the silver coinage in the coimtries named from 1851 to 1870. that the demonetization of silver and the restriction and limita Great Britain ...... ·-···· ...... •...... --···---···· $31,243,217 tions imposed upon its coinage were not the cause of its depre France_ ...... _...... ___ .... --···· ...... ···---······--·-··-···--···- 103, 307, 957 Germany (from 1857 to 18i2) ·-····· •••••••••• --··-- ·-·· --··-··--····- 167,805,000 ciation'? United States._--·-··-..•• ·-·· ..•. --·- .•.. ···-···-_ •...• ·--·---···---- 63,25!,676 To have bad that effect the alleged cause must have operated in one or other or in both of two ways. either by diminishing the Total ·-·-·· _--· ·- -...... ·-· ...... ··-.... ____ --·--·------···· 365, 610, 850 demand, the supply remaining the same. or by increasing the sup Statenient of the silve1· coinage in the countries named ft·om 1870 to 1890. ply, the demand remaining the same, or by t:)Oncurrently dimin ishing demand and increasing supply. Our first inq niry will be ~!~~~~-~ :=:::: :::: :=::::::==~::::: :::::::::::::::.:::::::::::::::::::: ~: ~: ~ to ascertain to what extent the treatment of silver by the world's Germany_--·-· .... -· .... -·-·--··--.-····--···· .•..•••••..• ·-----·- ·-·- 107, 6:12, 000 legislation since 1870 has operated in either of the ways named. United States ..•...•..•. --··-·-._ ...••. -···---·······---····------··· 485, 889, 912 Before starting upon this quest, however, it may be pertinent to Total .....• -----· ----·-.•.... _-···- --···- _--··- ... _··-- --...•.... 7!6, 4.06, 852 1900. CONGRESSIONAL RECORD-HOUSE. 2861 Giving the comparison a wide range, we obtain the following that in 1870 the value of the world's production of silver was 43 results: per cent of that of gold· that during the five years ending with Statement of the total and annual sil11er coinage in, the p1-incipal countries in 18 74 that ratio of production had risen to 68 per cent: that during the wor ld in the periods named. the next five years it rose to 81 per Cdnt; th;1,t for the five years 1880-188-1 it was 104 per cent; that during the period 18S5-rn89 Period. . a Average an· it averaged .119 per cent; and that during the next five years, Total coma.,e. µual coinage. 1890-1894. it stood at 132 per cent. In the last report on the precious metals in the United States 1853to1872...... •••••.• •••••.• ••.•• ••.• . . .. .••... $864, 332,224 $43. 2U\, 611 it is stated that the product ~ on of silver from 1871, t he date of the lti73to1892.. .••• •..• •••••• •••.•• ....• .•... •... •. .• 1, 377, 140,mJO 08, 85i, 000 first legislative measure passed in Germany looking to the demone tization of silver, to January 1, 1897, was s · ~.50 ;:$,29-i, 192, coinage Thus is the astounding and profoundly significant fact by these value, while the total production from 1492 to 1871-that is, from figures made clear that in the twenty years subsequent to 18713 the discovery of America to the inception of ant'i-sil~er legislation the world"s coinage of silver was well-nigh doub!e that of the cor was $7.107,17i3,4ti8. That is to say, to put it in the most graphic • responding period prior to that date. In the far e of this over form. the silver mines of the world during the last t\~venty- six whelming demonstration it ia difficult to comprehend how a 11 y years produced within a trifle of one-half the product during three m ind to any.extent tutored can be deluded bytheoft iterated-and hundred and seventy-eight years prior to 1871. reiterated contention that the monetary function of silver was To state it in still another form, the annual product of the destroyed or that there was, in the period named, any considerable mines of the world in the last twenty-six years has been seven diminution in the demand for silver for monetary uses that could t imes as great as the average annual product in the c~nturies pre have caused so rapid and continuous a decline in price; yet some ceding that date. And, furthermore. the product in all the coun mAn claiming to be honest and honest men claiming to be sane tries of the world in 1896 was 260 per cont more than in 1873, and declare that hostile legislation has halved the money of the world the silver coinage of the world from 1873 to 1896, both inclusive, and brought upon us all the consequences of the economic dis was the enormous sum of $3,031,428,974, only $800,000,000 less than turbances of the last quarter of a century. the gold coinage for the same period. (Report on Gold and Silver I now pass to a t.hird consideration and propose to show the stu Production for 1896.) · pendous antecedent improbability that the contention l am dis Presenting it in a different form, the average annual production puting can be true because of the e~ormous ~ncre~e in the p_ro of silver in the world from 1841 to 1850 was ;;32, 4-10,000 at its coin dn<' tion of the money metals, especially of silver, and the high age value. From 1 66 to 1870 it was $45.772.000. From 1871 to r atio of increase in the total monetary volume of the world jn the 1875 it was $81.864.000. From 1876 to 1880 it was $1 01.831,000. twenty years after the act of 1873 as compared with the twenty Thus the product bad more than trebled since the period between years prior to that date. · 1840 and JS.50, although the commercial value had fallen enor In the United States the monetary volume increased at an un mously." Since 1893 the annual vroduction is more than six times exampled rate from 1873 to 1893. At the former date our total that of the 1840-1850 period, although silver had lost from 40 to circu ation of all kinds was $775,445,610, while in 1893 it was 60 per cent of its commercial value. $2.323,402,392, an increase of 200 per cent, giving a per capita cir culation at the two dates, respectively, of $18 and 524. SILVER IN THE UNITED STATES. Take the product of our own country and the situation is ac STOCK OF GOLD .A.ND SILVER. centuated still more strongly. From 1792 to 1844 our total silver The stock of gold and silver money in the thirteen leading com product was $250,000. From 1844 to 1860 it was 8;)0,000 annually. m ercial nations, namely, United States, Great Britain, France, From 1860 to 1872 it was $12,000,000 annually, and from 18i2 to G ermany, Russia, Italy, Belgium, Netherlands, .A.ustria-Hnn 189-i, $50.000.000 annually. In 1892thesilverprodnct of the United gary, Aµstralasia, Denmark, Sweden, and Norway, in 1873 was States exceeded that of the world in 1873. $2,26 7, 485,000, while in 1897 it was 85,529,500,000, an increase of n early mo per cent in twenty-four years. (Last Report on Pre GOLD COINAGE. cious Meta1s.) Now, look for a moment at the growth of gold coinage in the The metallic.money of Germany, says Dr. Lexis, doubled from world. This glimpse throws additional light upon the inquiry. 1873 to 1894, while the population increased only one-fourth. In From. 1873 to 1892 the world coined $4,304:,UOO,uuo of go~ d. The France the metallic circulation increased $337,000.000 in the ratio of increase in later years has been marked. In 1891 the period named, while her population scarce1y increased at all. In world's coinage of gold was $119,534,122; in 1892 the world's coin the United States the difference is much greater. In 18Wour total age of gold was $172.473.124; in 1893 the world's coinage of gold coin and bullion gold and silver was $141,149,395, while in 189& it was S2i32,485,6li8; iu 1894the world's coinage of gold was$2B7,921.- was $1,213.559, 169, an increase of a lmost 900 per cent in twenty 022. In the United States al§o gold coinage kept in touch with years. These figures are all verifiable by reference to the last the total of the world. From 1792 to 185il we coined $259,936,567; report of the Director of the Mint. from 1853 to 1872 we coined $i'l58,302,800; from 1:372 to 1894 we coined $937,460,633-a total for the entire period from 1792to1894 WORLD' S PRODUCTION OF GOLD. of Sl, 7~5, 100,000. Let us now va1·y the view and look at the enormous production SILVER COINAGE. of the precious metals throughout the world in recent years. Up to 1830 the world had produced double as much silver a.s gold. The world's coinage of silver tells the same story. The follow The world was saturated with silver and was thirsty for gold to ing figures show the rate of increase in the periods named: In 18i3 meet the needs of advancing civilization. In 1850 a refreshing the world's coinage of silver was $131,500,000; in 18;8 the world's shower came from the m ines of California and Australia. This coinage of silver was $L61,191,000; in 188 7 the world"s coinage of silver was $163,411,397; in 1892 the world's coinage of silver was was rapidly absorbed, with not more than 15 per cent depreciation $155,500,000. in the metal according to the best opinion. From 1853to1872 the From 1873 to 1893 the silver coinage in Europe and America, world produced $2,883,l!OO,OOO. From 1873 to 189! the product excluding Mexican dollars exported to Asia, was. in round num reached $2,494,SOO,OOO. In the latter years of this period the in bers, $1,000,000.000 more than was sold by Germany and the Scan crease was extremely rapid. For example, it was in- dinavian States. In other words. says Dr. Lexis, in these coun 1891 ..••••.•.•••••••••• ------••·••• .... - ···-- •.. . ··-· ..•. $130, 650, ()()() 18P'J .••..•••••.•••.••.••• ·-·· •••••••• -·· - ...... • --· ...... •.·...... •• 1(6, 297, 60Cl tries the new silver coined into money from 1873 to 189a was not 1893 ------··· ----•••• ---· ------·····-·····------.. . - ·····- 157. 228, 110 less than an annual average of $.t.7,600.000, an amount greatly in 1 9-1: . . ------••••• ···-- .•• ------•..•.•••••.. --.....•.. ---- 180, 000, 000 excess of any previous annual coinage out of new silver. Malcing 1895 . ------· . ----•••••• ---· -- .••• ---··· ------•••• ---··· .... ---- 200,0 0, 000 the statement more inclusive, there were coined in Europe, the 1896. - ···-- - .••.• ·····----· ---·--···--····· ••.••••• --···-.•.••.•• - ····- 220, 000, 000 1897 .....••.. ----.....•.•••.••••••.•..••..•.••••.••.... ---- ....•. - -- ..• 240, 000, ()()() United States, and India from 1851 to 1860 an annual a~·erage of In 1873 the annual gold product of the world was $96.200,000, $38,794,000. During the decade from 1861 to 1810 the annual while in 18ll5 it reached $200.000.000, more than doubling in twenty average reached $80,000,000, and in the years 1887 to 1891 the years. The world's product in 1895 exceeded the combined product average was $113.000,000. . of gold and silver in 1873. In no period of the world's history was so much silver cofaed as in the recent years I have named. The aggre?rate coinage during WORLD'S PRODUCTION OF SILVER~ the sixteen years from 1876 to 1891, the period in which the great Then look at the world'ssilverdevelopment. The world's prod· est depreciation of silver occurred, amounted to $U360.000,000, uct from 1853 to 1872 was $943.100.000, or _40 per cent of the gold while the production during the same period, according to Soet product for the same period. From 1873to1892 the silver product beer, was $2,109,394,000. The coinage was thus 74 per eent of the was s·~.347,000 ,000 , or about 109 per cent of the gold product for production. So far, therefore, from siher having lost its occupa the same period and au increase of 150 per cent in the latter twenty tion after the alleged demonetization, it was employed more largely years as compared with the previous twenty. In 18i3 the silver than ever before. product of the world was ~81,800,000, while in 1895 it was $220, I have compiled these figm·es to show such a progressive increase .000.0UO, nearly three times as much. in the products of the mines and mints of the world in correspond The figures given by the New York Journal of Commerce show ing periods before and after the alleged demonetization as to dispel 2862 CONGRESSIONAL RECORD-HOUSE. MARCH 13, entirely the idea that there has been since 1873 .auch a lessening own country prior to.1893. The mind of the average American of the vo ume of the world's money, as to seriously affect prices, citizen is not suffering either from the feebleness of childhood or as well as to accentuate the stupendous improbability that in the the decrepitude of age; it is neither in the cradle nor on crutches; face of the steadily increasing product and mintage of gold coin and there is no reason why we should make shadows on the wall cidently with a relatively diminishing demand for it, incident to with our hands and then take fright at the horrid pictures. I want the advancement of civilization and the multiplication of credit to vindicate my country against the aspersion cast upon her by facilities to supersede the use of coin, there could have been any her own citi,zens, that she is responsible by reason of her legi la considerable appreciation in the value of the metat tion for the demonetization of silver, the fall in pTices, and the With these facts in view and rightly understood; that any well general monetary dislocation of a few years ago. With a knowl informed person can believe that the volume of the wor!d's money edge of the facts none but the untutored mind can fail to see that bas been so curtailed as to have produced the results which have she is free from delinquency on this score and has fairly earned so signally ma1·ked the last quarter of a century presents an intel the credit the world has given her for her heroic efforts to uphold lectual paradox inexplicable, it seems to me. except upon the hy silver against the force of economic gravity augmented slightly pothesis that tlie human mind is like the pupil of the eye-the by the action of European countries. · more light you throw on it the more it contracts. The most harmless and inconsequential of all the acts in the Then. to sum up the argument as far as I have gone, there is no checkered history of silver in the last third of a century was our • evidence sufficient to establish the contention that the demonetiza fam{)US act of 1873, miscalled "A demonetization act. ., It had no tion or diAuse of silver was the ei!ective cause of its decline in more effect upon the s :lver sitnation in its world aspects than price. That the anti-silver legislation and diminished use of silver would have had an act to forbid the coinage of aluminum, for there for monetary purposes may have accelerated the downward move were no silver dollars to speak of in circulation and scarcely any ment of that metal no one d;sputes, though it would be quite im had been coined for a quarter of a century, for the very sufficient possible to determine the extent of that influence; but that they reason that silver was worth more in bullion than in coined dol had any agency in giving orig;nal direction to the movement is lars and could not be coined without a loss. incapable of demonstration and is contradicted by all the facts of This being the case. we are without responsibility for any of the the case as WP,11 as by the consideration, which is never to be over consequences which ha,·e befallen silver; and as we were unable, looked, that there are obvious ordinary and natural reasons for all with the herculean exertions we made, to as much as retard the the phenomena connected with the movement of silver, without fall of silver, much less arrest it, even in the beginning of its down resorting to extraordinary and strained. theories to account for ward movement. it requires a hardy and daring adventurer to them. l am convinced that the strongest reason and the weighti volunteer the services of this country alone to lift silver from its eat authorities sustain the contentjon that the cause we are seek present lowestate totheheightfrom which it fell. With a knowl ing is on the side of commodities rather than on the side of money, edge of the facts yon can not fail to believe with me that our coun though there is such a contrariety of opinion among well-informed try is free from delinquency on this score and has fairly earned students of onr economic history as to dispel all hope of rellching all the credit the world gives her for her heroic efforts to sustain a conclusion on which all can rest with satisfaction. silver as a money metal. Perhaps no better equipped mind bas ever ·grappled with the What actually occm-red in 1873 was to drop the silver dollar vexatious subject than that of Dr. W. Lexis, of the University of from our coinage. It is difficult to see how a circulation could Gottingen, who was a member of the Berlin Silve1· Commission of be impaired by excluding from it a coin that had not been in l1se 1894. His mas ~ ery of the factEI, the soundness of his reasoning, for many years. Prof. Simon Newcomb wrote in 1879: and the validity of his conclusions appeal to me with irresistible It is probably safe toassertthatone-halfof the citizens of our country born force, and I will conclude this part of my argument with a bt·ief since 18t-O have never seen a. silver dollar. But if it bad been a current coin in lti73, as the ~old dollar was in 1891, to drop it from the coinage was in no st.atement of bis conclusions extracted from a paper read by him real sense a demonetization of silver more than was the dropping of the gold before the Pe th Agricultural Congress in 18i:l6. and reproduced dollar in 1891 a demonetization of gold, looking at these two similar acts of in the last report on the Production of Gold and Silver in the United legislation dropping two coins from our system, one because it was too small and theothet·bec.ause it was too large. Apart from all else. it does not appear States: to one of medium faculty that one was in any real sense more effective than (1) The depreciation of silver.-Its cause lies, on the one hand, in the enor the other in ca.using the demonetization of the respective metals. mous increa e of the produ~tion of that metal. and on the other in the na But for the act of 1853, which effected demonetization to a much tional psycbologic fact-a. very real and universal one that makes itself felt everywhere-that, in the present state of economic development. the coun larger extent than that of 1873. there would have boon a very small tries most advanced in ciViliza.tion, especially France, consider silver a les.s fraction of our silver money in any way disturbed. From 1853 to fit medium of circulation than gold. There wa.s no real demonetization of 1813 we purchased and coined $62, 723,695 of demonetized silver; silver before Novemher 1, l '93, when the Shel'lllan Act was repealed in the United States, for in the twenty yea.rs preceding that date there was more that is, silver money not of ultimate redemption. silver coined or used as a covering for notes than ever before in a period of The following is a statement of the several denominations of · equal length. • silver coined in that period: (2) Tiie appreciation of go1d.-The supply and the production of gold has don bled within the last ten years, while the demand for and employment of Silver dollars coined from 1792 to 1853 --·------·--·-·- •••••• -····· $2,505,886 it in wholesale trade bas been more and more decreased by the clearing Half dollars coined from 1792 to 1853----·------·------· ------66,321, &'36 house system. The great central banks have a gold st-ock larger than was Quarter dollars coined from 17'92to1853----·------·------·--- 8, OOt.125 ever before believed possible; the rate of discount in recent years has been Di.mes coined from 1792 to l&'id __ ------·------·------·--- 3, 00.t. 213 so low as to point to anything rather than to a scarcity of gold. Although Half dimes coined from 1792 to 1853---·--- ·-·------·------1,824,623 the production of gold has been vastly increased. the steady fall of the price All of tbis silver, except the dollars, was demonetized in 1853; of commodities has not been arrested thereby. 'fhi:s fact is the best refuta tion that can be given of the bimetallic contention that there is a connection that is, 876,012,597 was demonetized, leaving only 2.505,886 retain 0 ing the full legal-tender qua1ity, which all the silver possessed ~!~°oefnt:~~~lu~ ~f;!ego!gea~~c!~e~;h!~ftE!~~~~re 'fi~~~hbe~~e c':u~~~ prior to 1853. solely by the fall in the value of silver, and not at all by the rise in the in trinsic value of gold. In the period from 1853 to 1873 we coined under free coinage (3) The p1·ice uf wheat.-As there has been no scarcity of and no rise in the 5,524,3.50 silver dollars, and during the same period we coined value of gold, neither the scarcity nor the appreciation of that metal can 5511,810,808 of gold. To say that the two metals entered the account for the decline of prices. The fall of prices of the various kinds of commodities bas not been uniform, and hence mnst have been produced by mints during those twenty years arm in arm suggests the picture very.different causes; but the gold standard is not one of those causes. of an infant arm in arm with a California gfant. If the United State were so unwise as to introduce the free coinaae of But this is n<>t the full strength of the argument; that requires silver. independently of all other nations. it would go through such frightful and deterrent experiences that all other States \Vonld probably entirely lose a view of 'the total coin~ge of denominations under a l].ollar from the inclination to engage in similar international experiments. 1792 to 1893, and here it is: To this l will add the conclusions of the Hon. R. E. Preston, Total silver coinage under the dollai· from 179J to 18!J3. Director of the Mint, in his last Report on the Production of Gold Half dollars ______.--·------___ ---·------·-_--·------$128, 391, 220 and Silver. He says in substance: A sufficient cause of the decline of silver since 1873 is the enormous in =::: =::::: :::::: :: :: crease in its annual prod notion. Coutribu ting causes are the demonetization ~~i~f~~~~~ -~i~~~~::: :::~:::::::: ::: :::: ::: : ==~ :: : ~: ~ of silver uy Germany, Norway, Sweden. Denmark, and Roumania and the Half dimes ____ ·-----·------·------·---·--·----·-----·-_ 4. 880. 219 suspension of its coinage into full legal-tender coins on private account by Total. ____ ------..... ___ •... ·------.. __ 207, 897,231 almost every civilized government. The latter, however. or the contribu tory causes. do not of them after demonetiz-ation as in the eighty prior years. Is it not, there Long, Morgan, Ruppert, Thayer, for, as clear as demonstration itself that no other nation eve-r Lorimer, Mudd, Russell, Thropp, Loudenslager, Needham, Scudder, Tompkins, made such heroic exertions to uphold any f'c.rm of money as the Lovering, O'Grady, Shattuc, Tongue, Umted States made for twenty years to maintain the honor and Lybrand, Otjen, Shelden. Underhill, value of silver? Not only our own but the lips of other coun l\IcAleer. Overstreet, Sherman, Vreeland, McCleary, Packer, Pa. Showalter, Wadsworth, tries have generonRly praised our long-continued and persevering McPherson, Parker, N. J. Smith, H. C. Wanger," struggle to bold np the arms of the white metal. Mr. Montefiore Mahon, Payne, Smith. ~. W. Warner, Levi, the distinguished Belgian financier, who presided over the Mann, Pearce, Mo. Smith, Wm.Alden Waters, Marsh, Pearre. Spalding, Watson, Brussels Monetary Conference. alluded in the kindest terms to the Mercer, Phillips, Sperry, Weaver, efforts we had made to avert the fall of silver. Bertram Currie, Mesick. Powers, Sprague, Week::;, . one of the delegates to the Brussels conference from Great Britain, Metcalf, Prince, Stevens, Minn. Wlute, Miller, Pugh, Stewart, N. J. Wilson, N. Y. said: Minor, Ray, Stewart, N. Y. Wi::e, We have witnessed the heroic laboTs of the United States to sustain silver. MondelL Reeder, Stewart. Wis. Young. Moody. Mass. Reeves, Sulloway, Sir Rivers Wilson, another delegate from Great Britain, said: Moody, Oreg. Rodenberg, Tawuey, It is doubtful whether the United States can possibly continue indefinitely the gigantic efforts which it has made without effect for so many years to NAYS-121). maintain and to raise the price of silver. Adamson, Davenport, S. W. Lewis, Ryan, N.Y. Allen, Ky. De Armond, Little, Ryan, Pa. Dr. E. B. Andrews, one of our own delegates, in reply to an in Allen, Miss. • De Graft'enreid, Livingston, Slfimon, timation that the United States was to blame for the monetary Atwater, De Vries, Lloyd, Shafroth situation, aptly said: Bailey, Tex. Dinsmore, McUlellan, Sheopard, Ball, Dougherty, McCulloch, Sims, To make such a charge is like indictin~ for murder a man who has bravely Bankhead, E diott, McDowell, Slayden. tried to save his fellow bent upon committing suicide. But we can not carry Barber, Finlev McRae, Smith, Ky. thi.~ frateTnal effort-much further. We sb>\ll not forever pursue alone the Bartlett, Fitzge~ald, Mass. Maddox, Snodgrass, task of sustaining the price of silver. Bell, Fleming, May, Sparkman, Bellamy. Foster, Meek:ic;on, Stark, Mr. Boissevai_n, a delegate from the Netherlands, said: Benton, Gaston, Meyer, La. Stephens, Tex. It seems to me unjust and contrary to historical facts to Ia;y the burden of ·Berry, Gilbert, - Moon, Stokes, . responsibility for the present situation upon the United States. Brenner, Glynn, Muller, Sulzer, Brewer. Green. Pa. Naphen, Sutherland, Senator JONES, another of our delegates, said to the conference: Brundidge, Griggs, Neville, Swanson, Burleson, Hay, Noonan, Talbert, The fact is, the price of silver has been maintained by the aid of the United Burnett, Henry, Miss. Norton, S. C. Taylor, Ala. States. It has the same value to-day it bad when it had nm·estricted access Caldwell. Henry, Tex. Otey, Terry, to the mints. lts purchasing power, its control over commodities, has not Campbell, Howard, Pierce, Tenn. Thomas. N. C. declined. Catchings, Jett, Polk, Turner. These are testimonies which effectually i·epel the imputation Chanler, Johnston, Qum·le.~. Underwood, Clark, Mo. Kitcb.'in, Iiansdell, Vandiver. that the United States has been delinquent in not making proper Clay:ton, Ala.. Kl~berg, Rhea. Ky. Wheeler, Ky. exertions to uphold the price of silver, and they are all borne out Cochran, Mo. Kluttz, Rhea, Va.. Williams, J. R. by the figures I have already produced showing the enormous Cooney, Lamb, Richardson, Williams, Miss. Cowherd, Lanham, • Rixey, Wilson, Idaho increase in the use of silver in the United States since the passage Cox, Ln.timer, Robb, Wilson, S. (). of the act of 1873. Crawford, Lentz, 'Bobinson, Nebr. Zenor, Does it not appear, then to right-minded men that so far as the Daly,N.J. Lester, Rucker, Ziegler. Uni red States is concerned in responsibility for tqe demonetization ANSWERED "PRESENT "-10. of silver and the monetary disturbances of the past years on ac- Boreing, Olmsted, Small, Wright. count of the faH in silver, it is a. monstrous kilabaroo? . Griffith, Roberts, Steele, A friend of mine telJs a story more suitable as an iilustl'atio11 in Hemenway, Sibley, Van Voorhis, this connection than anything I can recall from history, fiction, NOT VOTING-5!. or fab:e. A wag carried about a queer looking box to scare peo Bontelle, Me. Co.sack, Hall, Robinson, Ind. ple with. He pretended there was a terrihle animal in it that Bradley, Cushman, Hitt, Shackleford, Brantley, Davey, Hopkins, Smith, ill. would eat people alive. He had it in New York on one occasion. Breazeale, Davis, Jones, Va. Southard, The beholders asked him what it was. "A kilabaroo," he re Broussard, Emerson, Loud, SpiR'nt, plied. ''Where did it come from?" "It came from Africa." Brownlow. Fitzpatrick, McCall, Stallings, Borke, Tex. Fordney, MoLain, Tate, ,; What is its color?" ''Green as jealousy." "What does it live Capron, Fox, Miers, Ind. Tayler, Ohio on? " " It lives on snakes." " Where do yon get the snakes." " I Carmack, Gaines, Morris, Thomas, Iowa get them from my brother-in-law here in New York." "Where Cooper, 'l'ex. Gayle, Newlands. Wachter, Cooper. Wis. Gibson, Norton, Ohio Weymouth. does he get them:" "Well. he gets them out of his. imagination Cromer, Gordon, Ridgely, Williams, W. E. when he has delirium tremens." "Oh. then they are imaginary Crowley, Gr ene. Mass. Riordan, snakes?" "Oh, yes; it is an imaginary kilabaroo. There is noth Cummings, Grosvenor. Robertson, La. ing- in the box. but it scares a great many people." So the teoort of the committee of conference was adopted. The SPEAKER. The question is on the adoption of the con Mr. OLMSTED. I wish to inquire whether the gentleman from ference report. Illinois, Mr. WILLIA.M E. WILLIA.MS, voted on this question? Mr. OVJ!;RSTREET. On that question, Mr. Speaker, I demand The SPEAKER. He has not voted. tho yeas and nays. Mr. OLM8TED. Then I desire to withdraw my vote, which The yeas and nays were ordered. was cast in the affirmative, and to be recorded as'· present," as I The SPEAKER. Those in favor of the adoption of the report am paired with him. will, when their names are callAd, vote "aye," and those opposed .Mr. BARTLETT. I desire to say that my colleague, Mr. BRANT will vote '•no." The Honse will please be in orde1· so that the re· LEY, is confined to his room by sickness. If he were present, he sponses may he heard by the Clerk. All gentlemen will take their would vote ''no." · seats and cease conversation. The Clerk will call the roll. • Mr.HEMENWAY. I wish to inquire whether my colleague The question was taken; and there were-yeas 166, nays 120, from Indiana. Mr. MIERS. >oted? answered" present" 10, not voting 54; as follows: The SPEAKER. He did not. YEAH--166. Mr. HEMENWAY. I ha\·e a pair with him, and therefore de- Acheson, Burton, Driscoll, Hedge, sire to withdraw my vote. If he were present, I should vote in Adams, Butler, Eddy, Henry, Oonn. the affirmative. Aldrich, Calderbead, E ch, Mr. McCALL. I am paired with the gentleman from Tennes .Alexander, Cannon, Faris, Hfil:burn, Allen. Me. Clarke. N. H. Fitzgerald, N. Y. Hoffecker, see. Mr. GAINES. If he were present, I should vote "aye.!• Babcock, Clayton. N. Y. Fletcher, Howell, Mr. \TAN VOORHIS. My colleague, Mr. GROSVE ·oR. is con· Bailey, Karus. Cochrane, N. Y. Foss Hull, fined to his room by sickness. lf be were ijI esent, he would vote Baker, Connell, Fowler, Jack, Barham, Corliss, Freer, J enkins. "aye." I wish to say also that I have a general pair with my col· Barney, Cousins, Gamble, Jones, Wash. league, Mr. GORDON, who expected to be here to-day; and I ask Bartholdt, Crump, Gardner, Mich. Joy, that my vote be withdrawn. I voted in the affirmative. Bingham, Crumpacker, Gardner, N. J. Kahn, Bishop. Curtis, Gill Kerr, Mr. GRIFFITH. .Mr. SJ"0aker, I am opposed to this bill, and on Bouten. Ill. Dahle, Wis. Gill~t, N. Y. Ketcham, the roll call voted "no;" but I am now reminded that I am paired Bowersock, Dalzell. Gillett, Mass. Knox, w1th my colleague, Mr. CRO~IER. I desire, therefore, to withdl'aW Brick, Davenport, S. A. Graff, ~ Lacey, my vote and be recorded "present." · .Bromwell, Davidson, Graham, Landis, Brosius, Dayton, Grout, Lane. Mr. HENRY of l\1issisf'lippi. My colleague. Mr. McLAIN, is de· Brown. Denny, Grow, Lawrence, fained at his residence by reason of the very serious illness of his Bull. Dick, Hamilton, Levy, Burke, S.Dak. Dolliver, Haugen, Linney, wife. Were he present, he would vote" no." Another of my col Burkett, Dovener, Hawley, Litta.uer, leagues, Mr. SPIGHT, is absent on account of sickness. Were he - Bm·leigh, Driggs, Heatwole, Littlefield, present, he would vote "no." 2864 CONGRESSIONAL RECORD-HOUSE. MARCH 13, Mr. FINLEY. Mr. Speaker, the gentleman from Kansas, Mr. The SPEAKER also laid before the House the following com RIDGELY, is confined to his bed by sickness. He has requested munication: me to announce that fact and to say that if present he would vote HOUSE OF REPRESENTATIVES, UNITED STATES, "no." · Washington, D. C., lltarch 13, 1900. Mr. SPEAKER: I hereby resign from the Committee on Insular Affairs. Mr. TERRY. Mr. Speaker, am I recorded? Respectfully, The SPEAKER. The gentleman is recorded in the negative. HENRY D. CLAYTON. Mr. TERRY. You willrememberthissomeotherday. [Laugh- The question being taken on accepting the resignation, it was ter.] accepted. The following pairs were announced: The SPEAKER announced the following committee apr;~inf;.. For this session of Congress: men ts: Mr. WRIGHT with Mr. HALL. To the Committee on Insular Affairs, Mr. WILLIS BREWER of Mr. w ANGER with Mr. ADAMSON. Alabama. Until further notice: To the Committee on the Judiciary, Mr. HENRY D. CLAYTON of Mr. GROSVENOR with Mr. ROBINSON of Indiana. Alabama. 1\Ir. GREENE of Massachusetts with Mr. DAVEY. To the Committee on Militia, Mr. R. K. POLK of Pennsylvania. Mr. FoRDNEY with Mr. SMALL. CHANGE OF REFERENCE. Mr. WEYMOUTH with Mr. BROUSSARD. The SPEAKER. In the absence of objection, the reference of l\Ir. VAN Vo REPRINT OF A BILL. Mr. LACEY. Provided that this order shall not prevent the bringing up of othE>r private bills upon the Private Calendar on Mr. FITZGERALD of 1\Iassachusetts. Mr. Speaker,Iaskunan the first and third Fridays. _ imous consent for a reprint of the bill H. R. 8782, a bill amending The SPEAKER. The gentleman from Iowa offers the follow the acts creating the office and defining the duties of the superin ing amendment, which the Clerk will report. tendent of the harbor of New York. Mr. LACEY. I will state that there are some bills from the The SPEAKER. The gentleman from Massachusetts asks for Committee on Public Lands, and some private biUs from other a reprint of the bill H. R. 87 ' 2. Is there a. report with it? comm1ttees-the Military and Naval Committees. Mr. FITZGERALD of Massachusetts. I belieye not. The Clerk read as fol1ows: Mr. STEELE. What is the biil? Mr. FITZGERALD of Massachusetts. The bill gives certain Provided, That this order shall not prevent the consideration of other bills powers to the superint3ndent of New York Harbor , and inasmuch on the Private Ualendar on said days when r eached. as it involves interests in other parts of the country, and as it Mr. GRAFF. I have no objection to that. affects the method of towing in New York Harbor, all parts of the The SPEAKER. The Chair would suggest to the gentleman Atlantic coast are interested. I have had a great many requests from Iowa that there mjght be private pension bills that it would from Boston for copies of the bill. The Boston merchants tow interfere with on that day. barges and vessels around from Boston to New York. and there is Mr. LACEY. Not to interfere with private pension bills or bills a question about the length o ~ the tows and as to whether the to remove the charge of desertion. _ regulations regarding the same shall be intrusted to the superin Mr. RICHARDSON. Mr. Speaker, I would like to m ake an: tende:Qt of New York Harbor. 8peaking for myself and the in inquiry. I could not hear all that was said. I would like. to terests of Boston, I will oppose this bill. A hearing is to be had inquire what becomes of the fifth Friday of the month. We have before the Committee on the Merchant Marine and Fisheries on disposed of the first and third, and the second and fourth. Now, this matter Thursday mormng. I am a member of that commit in a. month that has five Fridays, what are we going to do with tee. and we wish to have copies of the bill before us. This is a that Friday? most important matter, and additional copies of the bill should be l\Jr. PAYNE. We would leave that as it is now-divided be: printed at once. . tween two or three committees. Mr. STE [!} LE. I am very glad to favor anything that will give Mr. RICHARDSON. I think we are drawing this resolution Boston any information which she seems to desire. rather hastily, and I suggest, after what has been said, that it lie The SPEAKER. The Chair did not understand the remark of over until to-morrow morning, and gentlemen can draw the reso· the gentleman from Indiana. lution as they think necessary. I merely make this as a sugges- Mr. STEELE. I think this is a wise provision, and I do not tion. - . object. The SPEAKER. The gentleman from Tennessee asks that this · The SPEAKER. Is there objection? resolution lie over until morning. Is there objectionr [After a There was no objection. pause.J The Chair hears none. - CONSIDERATION OF PRIVATE BILLS. Mr. RICHARDSON. They ought to keep that Friday for claims. Mr. GRAFF. Mr. Speaker, I ask unanimous consent for the Mr. PAYNE. Mr. Speaker, I move that the House do now ad present consideration of the resolution which I send to the Clerk's jonrn. desk. The motion was agreed to; and accordingly (at 5 o'clock and 12 The SPEAKER. The gentleman from Illinois asks unanimous minutes p. m.) the House adjourned. · consent for the present consideration of a resolution which the Clerk will report. The Clerk read as follows: EXECUTIVE COMMUNICATIONS, ETC. Resolved, That during the remainder of this Congress, after the approval of the Journal, the first Friday of each month shall be set apart for the con Under clause 2 of Rule XXIV, the following executive commu sideration of private bills from the Committee on War Claims, and the third nications were taken from the Speaker's table and referred as Friday shall be set :lpart for consideration of private bills from the Com- 'mittee on Claims. · . follows: · - . A letter from the Secretary of the Treasury, transmitting a copy The SPEAKER. Is there objection to the present consideration of a communication from the Secretary of War submitting an of the resolution? estimMe of appropriation for improving military reservation at Mr. GRAFF. I desire to say in explanation of the resolu Fort St. Philip, La.-to the Committee on Military Affairs, and tion-- · ordered to be printed. Mr. PAYNE. Does that resolution charige the rule so that A letter from the Acting Secretary of War, transmitting papers appropriation bills can not b& considered on those days? relating to the account of the Chicago, Rock Island and Pacific The SPEAKER. This would not cut off the right of way that Railway Company for transporting supplies to-Illdian .prisoners appropriation bills have under the rule. to the Committee on Claims, and ordered to be printed. - Mr. LACEY. I should like to call attention to one defect in that resolution which perhaps can be remedied. Mr. PAYNE. I see the language of the resolution sets these days apart. REPORTS OF COMMITTEES ON PUBLIC BlLLS AND Mr. MAHON. Well, weareentitled tothosetwodaysanyway. RESOLUTIONS. Mr. PAYNE. I do not propose to have an iron-clad rule which Under clause 2 of Rule XIII, bills and resolutions of the follow will prevent the consideration of appropriation bills. I notice ing titles were severally reported from committees, delivered to ·that the language of the resolution is that those days be ''set the Clerk, and referred to the several Calendars therein. named, as apart." It is the same language that is used in thei making of follows: special orders. Mr. MAHON, from the Committee on War Cl aims, to which The SPEAKER. The Chair is clear, however, that that would was referred the bill of the House (H. R. 1212) to authorize the not interfere with the right of way so far as appropriation bills Secretary of War to cause to be investigated and to provide for areconoorn~ . the payment of all claims presented on behalf _of churches, Ecb ools, Mr. LACEY. The second and fourth Fridays are now set apart libraries, hospitals, and establishments conducted for the benefit for pension bills. The other two Fridays are t-0 be set apart for of churches, or for charitable purposes,_arising from the occupa these two committees. I should like to ask what becomes of the tion and use of the buildingR, grounds, and other property of vari other private bills? -The Fridays will be all gone, and there are ous kinds occupied, used, taken away, injured, consumed, or de a great many other private bills that come from other commit- stroyed by the United States or its Army duripg the civil war, or . tees. for its benefit in any way, reported the same with a·mendment, Mr. SHERMAN. There is another Friday in the month, once accompanied by a report (No. 597); which said bill and report 'in a while. fLaughter.] - . were referred to the Committee of the Whole House on the state . .Mr. LACEY. lf there is to be provision for the consideration of the Union. of other private bills, I shall not object. _ Mr. SHACKLEFORD. from the Committee on Interstate and - The SPEAKER. Is there objection? Foreign Commerce, to which was referred the bill of the Senate There was no objection. (S. 227U) declaring Cuivre River to be not a navigable stream, re Mr. LACEY. l should like to see an amendment of the kind ported the same without amendment, accomp~nied by a report which I suggest. (No. 599); which said bill and report were referred to the House The SPEAKER. The gentleman from Iowa: Calendar. Mr. LACEY. Provided that this shall not interfere with the Mr. HULL, from the Committee on Military Affairs, to which bringing up of other private bills on any Friday. was referred the joint resolution of the House (H. J. Res. 163) to Mr. MAHON. Bring them up on any Friday. provide for the erection o~ barracks and quarters for artillery in XXX:Ill-180 2866 CONGRESSIONAL RECORD-HOUSE. MARCH 13, connection with the project adopted for seacoast defense. reported was referred the bin of the Senate (S. 426) for the relief of Ezra the same without amendment, accompanjed by a report (No. 605); S. Havens, reported the same without amendment, accompanied which said joint reso. ution and report were referred to the Com· by a report (No. 601); which said bill and report were referred to mittee of tbe Whole House on the state of the Union. the Private Calendar. _Mr. BROWNLOW, from the Committee on Military Affairs. to Mr. HENRY of Mississippi, from the Committee on Wai· Claims, which was referred the bill the cost to the consumer of articles of general use-to the Com- By Mr. MAHON: A bill (H. R. 9530) granting a pension to mittee on the Judiciary. · Christian R. Pisle-to the Committee on Invalid Pensions. By Mr. MARSH: A bill (H. R. 9510) to amend section 1 of the By Mr. NEVILLE: A bill (H. R. 93~1) granting an increa.se of act of Congress approved February 12, 1887, entitled "An act to pension to Hiram S. Kingsley-to the Committee on Invalid Pen amend section 1661 of the Revised Statutes, making an annual sions. appropriation to provirl e arms and equipments for the militia"-to By Mr. NEEDHAM: A bill (H. R. 9532) to increase the pension the Committee on Militia. of John Williams-to the Committee on Invalid Pensions. By Mr. BINGHAM: A bill (H. R. 9511) to amend the act ap By Mr. PEARRE: A bill (H. R. 9.5i33) for the relief of Rowan proved March 2. 1867, and sections 4756 and 4757 of the Revised White, of Garrett County, Md.-to the Comm1ttee on War Claims. Statutes of the United States, so as to confer the benefits thereof By Mr. RIXEY: A bill (H. R. 9534) for the relief of Miss Attia upon clerks to pay officers of the Navy-to the Committee on Lewis-to the Committee on Claims. Naval Affairs. By Mr. RHEA of Kentucky: A bill (H. R. 9535) granting a pen By Mr. WISE: A bill (H. R. 9547) providing for the retirement sion to John A. London-to the Committee on Invalid Pensions. of wagon masters-to the Committee on Military Affairs. Also, a bill (H. R. 9536) to pension ~arah Carter, now Sarah By Mr. JENKINS: A bill (H. R. 9548) to amend sections 8 and Hastings-to the Committee on Invalid Pensions. 15 of chapter 90 of the laws of the Forty-fourth Congress, first Also. a bill (H. R. 9537) for the relief of T. R. Mason-to the session, approved May 3, 1876, entitled "An act revising and Committee on Claims. amending the various acts establishing and relating to the Reform .By Mr. SPARKMAN: A bill (H. R. 9538) grantfag an increase School in the District of Columbia "-to the Committee on the of pension to Bethany Simmons-to the Committee on Invalid District of Columbia. Pensions. Also. a bill (H. R. 954!1) amending an act approved Jnly9, 1888, Also, a bill (H. R. 9539) granting an increase of pension to Ella. entitled "An 11ct to incorporate the Reform School for Girls of the V. Coston-to the Committee on Invalid Pensions. District of Columbia''-to the Committee on the District of Co By Mr. STEVENS of Minnesota: A bill (H. R. 9540) granting lumbia. an increase of. pension to Emery Stone-to the Committee on By Mr. McCLEARY: A bill (H. R. 9558) for the establishment Pensions. of a national park and cemetery at Fort Ridgely, in the State of By Mr. SWANSON: A bill (H. R. 9541) for the relief of Wil· Minnesota-to the Committee on Military Affairs. liam A. Brown and Frederick R. Brown and John R. Brown, sur By Mr. DRIGGS: A concurrent resolution (H. C. Res. 27) rela viving pa1 tner of himself and Frederick R. Brown-to the Com tive to the printing of the debates on the adoption of the Federal mittee on the Judiciary. Constitution. by J. Elliott-to the Committee on Printing. By Mr. TAYLOR of Alabama: A bill (H. R. 9542)toamend an . By Mr. SULZER: A resolution (H. Res. 178) directing the Sec· act granting to the Mnscle·Shoals Power Company right to erect retary of State to send to the House of Representatives letters on and construct canal and power station at Muscle Shoals, Ala~ file in the Department of State from citizens of the. United States bama-to the Committee on Rivers and Harbors. resident in the South African Republic-to the Committee on By Mr. UNDERHILL: A bill (H. H. 9543) for the relief of Foreign Affairs. George Frey-to the Committee on Military Affairs. By Mr. WHITE: A bill (H. R. 9544) for the relief of Jesse Flythe, of Northampton County, N. C.-to the Committee on PRIVATE BILLS AND RESOLUTIONS INTRODUCED. War Claims. · By Mr. ZIEGLER: A bill (H. R. 9545) for the relief of Daniel Under clause 1 of Rule XXII, private bills and resolutions of Thrush, of Shippensburg, Pa.-to the Committee on Wai· Claims. the following titles were introduced and severally referred a.s Also, a bill {ll. R. 9540) authorizin~ and directing the Secre follows: tary of the Interior to place the children of Zenas Macomber, a By Mr. ATWATER (by request): A bill (H. R. 9512) for the Revolutionary soldier, on the pension list and to grant them a relief of W. Dallas Haywood, of Raleigh, N. c ...... to the Commit- pension-to the Committee on Pensions. tee on War Claims. , By Mr. BELL: A bill (H . .R. 9550) granting a pension to Ellen By Mr. ACHESON: A bill (H. R. 9513) to correct the military C. Haines, widow of Charles Haines, late lieutenant, Company F, record of Mi:ler Dunaway-to the Committee on Military Affairs. Third Colorarlo Cavalry-to the Committee on Invalid Pensions. Also, a bill (H. R. 9514) granting a pension to Charles Forrest By Mr. JONES of Washington: A bill (H. R. 9551) for the re to the Committee on Pensions. lief of James C. D1·ake-to the Committee on Claims. Also, a bill (H. R. 9515) granting an increase of pension to John By Mr. MANN (by request): A bill (H. R. 9552) to authorize O'Rourke-to the Committee on lnvalid Pensions. the President to appoint and retire John B. Jeffery w ith the rank By .Mr. BELLAMY: A bill (H. R. 9516) for the relief o! Eli and grade of major-to the Committee on Military Affairs. Smith, of Richmond County, N. C.-to the Committee on War By Mr. TOMPKIN::>: A bill (H. R. 9553) for the relief of Isaao Claims. D. Knickerbocker-to the Committee on Military Affairs. By .Mr. BURNETT: A bill (H. R. 0517) granting a pension to By Mr. WISE: A bill (H. R. 9554:) for the relief of Charles John W. o ·Kelley, of Company C, Sixteenth Kentucky Volunteer Candy-to the Committee on War Claims. Cavalry-to the Committee on Invalid Pensions. Also, a bill (H. R. 1:.1555) granting an increase of pension to By Mr. BOWERSOCK: A bill (H. R. 9518) granting an increase Nicho1as Briggeman-to the Committee on Invalid Pensions. of pension to Allen A. Cameron-to the Committee on Invalid By Mr. COOPER of Wisconsin: A bill (H. R. 9556) granting a Pensions. pension to Mrs. Mary A. Smith, widow of the late Mablon P. Also, a bill (H. R. 9519) for the relief of Levi Maxted, of Law Smith, late of Company I, Third Wisconsin Infantry, and Com rence, Kans.-to the Committee on Military Affairs. pany C, Third United States Artillery-to the Committee on In By .Mr. CARMACK: A bill (H. R. 9520) for the relief of Julia valid Pensions. Rebecca Holt. of Florence, Ala.-to the Committee on War Claims. By Mr. LLOYD: A bill (H. R. 9557) granting a pension to By Mr. CHANLER: A bill (H: R. 9521) granting an increase of Henry Hanes, of Millard, Mo.-to the Committee on Invalid Pen pension to Mrs. Martha del' Banco Cunningham-to the Commit sions. tee of Pensions. Also, a bill (H. R. 9522) granti:Ilg a pension to :Michael .McAn drew-to the Committee on Pensions. PETITIONS, ETC. By Mr. DALY of New Jersey: A bill (H. R. 9523) to increase Under clause 1 of Rule XXII, the following petitions and papers the pension of Lizzie B. Green-to the Committee on Invalid were laid on the Clerk's deRk and referred as follows: .Pensions. By the SPEAKER: Petition of N. Lanning, of Independence, .. By Mr. FREER: A bill (H. R. 9524) for the relief of John For Iowa, against the passage of House bill No. 60il, relating to bush. late of Company B, Ninth West Virginia Infantry-to the second-class mail matter-to the Committee on the Post-0.tficeand Committee on Military Affairs. Post-Roads. By l\1r. GILBERT: A bill (li. R. 9525) for the relief of John By Mr. ACHESON: Petition of the Erie County Pharmaceu· B. McBrayer-to the Committee on War Claims. tical Association. Pennsylvania, for the repeal of the !:!tamp tax By Mr. GILLETT of Massachu!'etts: A bill (H. R. 9526) grant on medicines, perfumery, and cosmetics-to the Committee on ·ing a pension to Mrs. N. Marietta Chapman-to the Committee W a.ys and MeanR. . on Invalid Peasinns. Also, resolution of William F. Temple Post, No. '120, of Wash By Mr. GROGT: A bill (H. R. 9527) granting a pension to ington. Pa., Grand Army of the Republic. in support of House bill Samuel F. Aldrich-to the Committee on Invalid Pensions. No. 7094, entitled "A bill to establish a ·Brancb So:diers' Home at By Mr. GROSVENOR: A bill (H. R. 97>28) granting an increase or near Johnson City, Washington County, Tenn."-to the Com of pension to D&vid Beyer-to the Committee on lnYalid Pensions. mittee on Military Affairs. · By Mr. LAMB: A bill (H. R. 1:.1529) for the relief of J.B. Chan By Mr. ADAM:.::iON: Petition of Eugene Row, of Lenora, Ga., ·ller and D. B. Cox, of Virginia-to the Committee on War Claims • . in opposition to the passage of H?use bill No. 6071, relating to \ ' 2868 CONGRESSIONAL RECORD-HOUSE. MARCH 13, second-class mail matter-to the Committee on the Post-Office and 7094, entitled "A bill to establish a Branch Soldiers' Home at or Post-Roads. near Johnson City, Washington County, Tenn."-to the Commit By Mr. BAKER: Petition of David Powell and other citizens of tee on MilitaI"y Affairs. Baltimore. Md., against the passage of House bill No. 6071-to the By l\fr. GRAHAM: Resolutions of General Thomas A. Rowley Committee on the Post-Office and Post-Roads. _ Post, No. 49.3, Grand Army of the Republic, of :Natrona, Pa.. in Also, resolutions of Burns Post. No. 13, of Northeast; L.A. C. favor of House bill No. 7094, for the egtablishment of a Branch Gerry Post, No. 72, of Port Deposit, and Wingate Post, No. 9, Soldiers' Home at or near Johnson City, Tenn.-to the Committee Grand Army of the Republic, Department of Maryland, in favor on Military Affairs. of House bill No. 7094, for the establishment of a Branch Soldiers' Also, resolutions of the National Association of Retail Grocers, Home at or near Johnson City, Tenn.-to the Committee on Mili Cleveland, Ohio, recommending the passage of House bill No. tary Affairs. 4618, for the creation of a department of agriculture and food By Mr. BELL: Petitions of the PrP-sbyterian, Christian, Baptist, bureau, an By Mr. NORTON of Ohio: Resolutions of the Druggists' Asso the passage of a bill to establish a Branch Soldiers' Home in or ciation of Dayton, Ohio, favoring amendment of the war-revenue near Johnson City, Tenn.-to the Committee on .Military Affairs. bill-to the Committee on Ways and Means. By Mr. SAMUEL W~ SMITH: Protest of C. W. Rose and Also, petitions of the publishers of the Toledo Commercial and others, or Fowlerville, Mich., in opposition to the passage of Bouse the Evening News, of Toledo, Ohio, urging the passage of House bill No. 60.'.71, relating to second-class mail matter-to the Com bill No. 516.), known as the Russell bill, relating to the revenue mittee on the Post-Office and Post-Roads. tax on alcohol in manufactures, etc.-to the Committee on Ways By Mr. SPRAGUE: Petition of Thomas'G. Stevenson Post, and Means. No. 26, of Roxbm·y, Mass., Grand Army of the Republic, favor Also, resolution of Coopers' Union No. 11, of Sandusky, Ohio; ing the establishment of a Branch Soldiers' Home for disabled C. Zimmerman, Michel Brothers, Louis Ritter, and August soldiers at or near Johnson City, Tenn.-to the Committee on Brumm, of Sandusky, Ohio, protesting against the passage of a Military Affairs. _ . bill for the abolishment of one-sixteenth and one-eighth packages By Mr. STEVENS of Minnesota: Protests of M. E. Murray and of beer-to the Committee on Ways and Means. E. L. De Lestry, of St. Paul, Minn., against the passage of House Also, petition of Cigar Makers' Union, No. 79, of Sandusky, bill No. 6071, relating to second-class mail matter-to the Com Ohio, praying for the passage of a bill to protect free labor from mittee on the Post-Office and Post-Roads. prison competition-to the Committee on Labor. Also, petition of the Crocus Hill Mothers' Club, of St. Paul, Resolutions of Company B, Company E, and of the Sixth Regi l\iinn., and many women of Minneapolis, Minn., in favor of the ment Ohio National Guard, favoring the passage of House bill No. national park for northern Minnesota-to the Committee on the 79136, increasing the approp.riations for arming and equipping the Public Lands. military of the States and Territories-to the Committee on Also, resolution of the Chamber of Commerce of St. Paul, Minn., Militia. protesting against the passage of the so-called Cullom bill, to Also, petitions of L. G. Reed, of New Washington; J. Ever make certain changes in the interstate-commerce law-to the ingham, of Avery; J. G. Speller and J.E. Wickert, of Fremont, Committee on Interstate and Foreign Commerce. and F. X. Hoffman, of Millersville, Ohio, favoring the passage of Also, resolution of the Chamber of Commerce of St. Paul, Minn., the Grout oleomargarine bill-to the Committee on Agriculture. against a tariff on Puerto Rico-to the Committee on Ways and Also, protests of C. O. Probst. secretary Ohio State board of Means. · health; T. W. Bookmyer, of Sandusky; A. C. Gorsuch, of Wood Also, petitions of city councils of Stilhyater, Minn.; C. Gotgain ville; George R. Curtis and the American Publishing Company, and others, of St. Paul; Theo. Hamm Brewing Company and of. Columbus, Ohio; l\1rs. 0. B. Fox and other citizens of Fostoria; others, and lumber dealers in Minneapolis, Minn., for a modifi M. Heiser and 10 others, of Crestline, Ohio, in opposition to the cation of the river and harbor act of 1899-to the Committee on passage of House bill No. 6071, relating to second-class mail mat Rivers and Harbors. ter-to the Committee on the Post-Office and Post-Roads. Also, protests of citizens of St. Croix Falls and Taylors Falls, Also, petition of W. E Parker and 4 other clerks in the post Minn., against the modification of the river and harbor act-to office at Marion, Ohio, in favor of the passage of House bill No. the Committee on Rivers and Harbors. 4351, for the reclassification of salaries of clerks in post-offices-to Also, petition of Emory Stone, United States Soldiersr Home, the Committee on the Post-Office and Post-Roads. Washington, D. C., for an increase of pension-to the Committee By Mr: NORTON of South Carolina: Resolution of the board on Pensions. of health of the city of Charleston, S. C., favoring the passage of _ Also, petition of W. B. Dean, of St. Paul, Minn., praying for a Senate bill No. 1440 and House bill No. 6618, for the creation of a modification of the law making it a punishable offense to float or .national health ·department-to the Committee on Interstate and run logs on streams navigable by steamboats-to the Committee Foreiisn Commerce. · on Riversand Harbors. By Mr. OTEY: Petition of C. D. Kenney and others, of Roanoke. By Mr. SUTHERLAND: Resolution of the Commercial Club Va., against the passage of House bill No. 6071, relating to second of Hastings, Nebr., in opposition to the leasing of grazing lands class mail matter-to the Committee on the Po'.3t-Office and Post west'of the ninety-ninth meridian-to the Committee on the Puh Roads. lic Lands. By Mr. PAYNE: Petition of Charles Knapp and other citizens, Also, protests of J. N. Purvis, of McCook, Nebr.; S. R. Smith, of East Homer, N. Y., favoring the bill relating to dairy and food of Indianola; G. A. Hobson, of Fairfield, and J . .ff. Rickel, of products and their transportation-to the Committee on Agricul Juniata, Nebr., against the passage of House bill No. 6071-to the ture. Committee on the Post-Office and Post-Roads. · Also, protests of Mrs.John Huey and others, of Barnes and vicin By Mr. THOMAS of North Carolina: Petition of M. C. Gid ity; George Finn and others, of Cortland, and A. E. Wilson and dens and others, of Faisons, N. C., in opposition to the passage of others, of Canandaigua, against the passage of House bill No. 6071, House bill No. 6071, relating to second-class mail matter-to the relating to second-class mail matter-to the Committee on the Post Committee on the Post-Office and Post·Roacs. Office and Post-Roads. By Mr. TONGUE: Petition of J. H. Gr1eder and others, of the By Mr. PEARRE: Papers to accompan'y House bill, from citi State of Oregon, against the leasing of public lands-to the Com zens of Oakland and vicinity, irifavor of the Rowan White claim mittee on the Public Lands. to the Committee on War Claims. By Mr. WEAVER: Petition of Orin L. Pettigrew and others By Mr. POLK: Petition of Howard Lyons and others, of Pine clerks of Springfield, Ohio, post-office, asking for the passage of Summit, Pa., in favor of the bill to tax oleomargarine-to the House bill No. 4351, for the classification of clerks in first and Committee on Agriculture. second class post-offices-to the Committee on the Post-Office and By Mr. POWERS: Petition of Elmer Peck and other citizens of Post-Roads. Clarendon Springs, Vt., favoring the bill relating to dairy and Also, petition of James Ward and other citizens of Pickaway food products-to the Committee on Agriculture. County, Ohio, favoring the passage of the Grout oleomargarine Also, resolutions of Castleton Post, No. 108, Grand Army of bill-to the Committee on Agriculture. the Republic, of Castleton, Vt., in favor of House bill No. 7094, By Mr. WEEKS (by request): Petition of the First Congrega to establish a Branch Soldiers' Home at or near Johnson City, tional Church, Methodist Episcopal Church, Epworth League, and Tenn.-to the Committee on Military Affairs. Woman's Christian Temperance Union, of Memphis, l\fich., urg By Mr. RAY of New York: Petition of D. 0. Evans and other ing a clause in the Hawaiian constitution forbidding the manu citizens of Ithaca: Mrs. W. S. Davis and others, of Binghamton, factme and sale of intoxicating liquors and a prohibition of gam Davenport. and Owego, N. Y., against the passage of House bill bling and the opium trade-to the Committee on the Ten·itories. No. 6071-to the Committee on the Post-Office and Post-Roads. Also, petition of David l\l. --iloward and others, of Marlette, By Mr. RUPPERT: Resolutions of the New York Produce Mich., in favor of the Grout bill taxing oleomargarine-to the Exchange, in opposition to the Puerto Rico tariff bill-to the Com Committee on Agriculture. mittee on Insular Affairs. By Mr. WEYMOUTH: Petition of Charles C. Colby and 16 citi By Mr. RUSSELL: Petition of l\I. E. Babcock and others, of zens of Hubbardston, Mass., in favor of the Grout bill taxing Chestnut Hill, Conn., against the passage of House bill No. 6071, oleomargarine-to the Committee on Agriculture. relating to second-class mail matter-to the Committee on the By Mr. WHITE: Petit10n of l\I. E. Perkins and others, of Roa Post-Office and Post-Roads. . noke Rapids, N. C., in opposition to the passage of House bm No. Also, petition of C. S. Noyes and others, of Stonington, Conn., 6071. relating to second-class mail matter-to the Committee on to amend the present law in relation to the sale of oleomargarine the Post-Office and Post-Roads. to the Committee on Agriculture. Al. o, petition of C. C. Roach and 57 citizens of North Carolina, By Mr. SHATTUC: Petition of the Chamber of Commerce of in relation to the amount due depositors irom the failure of the Cincinnati, Ohio, relative to House bill No. 7097, providmg for a Freedman's Saviugs Bank and Trust Company-to the Committee reorganization of the consular service-to the Committee on For on Claims. ejgn Affairs. By Mr. WILSON of New York: Resolutions of the New York By Mr. SHOWALTER: Memorial of James Harvey Post, No. Produce Exchange, against the Puerto Rico tariff till-to the 514, Grand Army of the Republic, of Butler County, Pa., favoring Committee on Insular Affairs. ·