| Show 011710000 TUB nurirH noin IIILI Ora IIIIIal Alnet t lot Adepllee by loot r V AMIIKOTUM June Chilirnin DluIT of Ibo llcuia ways and moan coramlltre today mod < n refor to the lleuio on the Bonato rolu Ion lo prohibit the luua uf 1 LouJi without nutborlly from Uocgrcae The ilite rnenl li 1 tlined by the eleven lie publican mombera and two Demo crate Turner of Uooritla and Cobb of Minim who concur In ho I rrcotn menilatlona without Indonlng Ibo arKUmaut Tha report aai II la net propoiod by Ibo Uouate bill to repeal 10 much ol Ibo reium lion act aa aulharlaei the aocrelary of Ibo treasury lo borrow coin louialntalu tha redemption fund yet Illll li i Ibo legal ellect uf the language employed Tbo attempt to cloud this repeal by refeienoa lo further authorIty author-Ity of Congress li I meanlnikii Terblage for aterybodr know without with-out a dfolintlou lo this elleol that Congress rniy rotnaot a litr which baa been repealed and the Itpeil li prapoiedluel ai ConRreiela I reidyto aJjourn for ill moDtbi and with tba knowledge tnat the Henatr I M at prn enlconiutulei would oarer authorize an Iou of bonda to maintain lute redemption fund To propoie thla wheu there 10 I and hoe bon lorlbe yeare a largo deflnlency ct revenue In evltably raliea the Inquiry whether II la not the deliberate purpose ol tbe promoted ol thla bill to plunge the government Into repudiation and do prrclito Iba greenbacks Ono eicuie which hoc been linn bar the pmeRe of the Henile tillI thai the iicretary of the trenury bn sold iiondi l lo eyndlcaln Initead of offering them lint ai popular loaoe While WkcyrnpatbUe wilt title crnl clam yet title atlorda aubilanllal ground for amending the act of 13731 ai to require baud luued under II lobe lo-be Hrit ollerod tha American people and not ground for the abeoluta roj eil ol all aulhotll lo borrow In au exlfoncy Another excuae la that the seer lary of Ibe treasury hit Indirectly Iud and oU bond to meat tba de flclenoy ol revenue I > y using rte ra deemed United Htltee legal lender uotcefor current expeneee and Ihua ptaolng them In l a petition for a leoond redimpl Tble aUtrda groundelor lufhleglalallon as twin make It prac ttoably ImpoMlbla lo continue this priollcc bat not aallitaclory ground far taking from Ibo eccrelary all power lo borrow for tbe purpoie of maintain Inc Ibo redemption fund Altar roferrlug to Ibo house bill lora lor-a popular loan lor revenue Ihs repast Mnlinuei Instead of concurring In Ibe Iwo bull the Uenate reluiad lo provide tbe necdiil reveuuo or ta au > tborlia the Inoue ot tomporaryicertia i cites or ludebledu Ihui practically InaOlllol the aeorelarye coupe Inn much aa In the ationca of both coronae and authority lo borrow and cowl the deficiency tna only rOUloe oleo la the eecreury la I the use of Ibo re deemed United little local tender noire uotnOur Our crltlclim of the eectelaiy la not thai ho uaed rte redeemed United Blatta legal tender < notes to meet the oetlolinoyln Ibo abienoa ofrovenua and authority to borrow for Ibo dla neck becl lor no other reoourca tae Uonoi4n to hint union UIVKOVOIU biant was la stop but mile lUmlnlatra lldn and necreiiiy have rmuted I > 100RI1I the loci tuattba r v nuii ha liieu and allll li 1 IninlUclent la rutt the upenillluife aoll hews uiroiir ageil all attr > lo trovllo I tulllclenl retcntic Iliereby piaolloally Ibtllllhg I on a cuntluuation of the uunaitlooa which mode II receinry lo Imllreolly u or lurronl ezpenecu Iha Druoeeds it biuui eald lor rcdempllou lour p lea Ilaellcally Ihereforr the Iterate bill labs away from the teoreUry Ills power lo borrow either gold or sliver to maintain toe coin redemption lund lulhelKca or the loci Ibal the ROT nrnment owns only 37003000 ol ether dolUreund ol litlleotor 100003 I 000 of gold lhat can bn uicd lorle drmpllon purpoirr which lund would dliappiar In a very brie ivrlodlfll should la undenlood thai the power lo borrow lu nil exigency had been abrogated The Innvltntile result ol tools a reokl ciuria wool l lit reu dialed by the government depitcla lion of the tuno07 and such ponlo i In the couutryaa mi never bafora Uc experliuced I I |
