The times. [volume] (Richmond, Va.) 1890-1903, 1890-12-21
FINANCIAL LEGISLATION.
OPINION GROWING THAT NONE
WILL BE ATTEMPTED.
Republicans Divided I'm Sentiment ana
Timid About Taking a Decided stand
Edmunds sore-Congressicnai Proceed
ings-Capftal News and Notes.

ings-Capital News and Notes.
WASHINGTON, Dec. 2O.-(special. The
opinion is growing here that nc
financial legislation will be enacted
at the present session Of Congress
The Republican managers are back
ing and filing on the subject, and there
is reason to believe that they are simply de-
luding the peoples that they are making
loud promises without the intention Of do
ing anything. The situation now is more
complicated than it was at the opening OF
the session. In fact; the supposed CON-
promise argument has gone TO pieces.
! No particular interest in the caucus bill
is felt at the Treasury Department. While
there are some features that are approved,
the bill, as whole, is not thought TO be
such as would greatly improve the situa-
tiOn.
The plan favored by Secretary Window,
and the one which 1t is thought at the
/ Treasury Department will be adopted II
anything at all is done, gives the Secretary
the discretion TO purchase all OF the l2,OOO,-
600 ounces Of surplus silver az such time
and in such amounts as he deems desira-
| ble-all at one time, if necessary. II
provides also that the regular purchase OF
silver shall be confined TO the product Of the
American mines, and includes the proposi-
| tion for the issue of $S0O,0OOOO intercon-
yertibe bonds.
Ii is thought at the Department that the
spreading out OF the twelve million silver
purchase over several months would de-
strOy the effect Of the purchase. The dis
cretion should be given the secretary to
make the purchase in such manner as the
circumstances demand.
Another thing, II the purchases under the
general law are not confined 20 the product
Of the American mines, it will not do much
good to buy up the surplus at this time, as
the chances are that as soon as that is
bought there will be another accumula-
tion through importation OF foreign silver.
THE INTERCoNvERTIBLE BOND.
The Secretary has the utmost confidence
in the intercOnfertible bond proposition,
and believes if the whole plan were adopted
by Congress it would relieve the situation
and secure the country in the future. But
ven if only the silver feature OF the plan Is
adopted, it is desirable that the Secretary
should have discretion in making the SUP
plus purchase.
NO LEGISLATION EXPECTED.
There is, however, decided disposition
among those who exercise the most in-
fluence over legislation in both houses OF
Congress to avoid all financial legislation
at this session. IL is safe to say that the
senate Finance Committee do not expect
that there will be any legislation. some
Of the strongest men in the two houses
believe that the financial affairs OF the
country will right themselves in the course
Of a month or two il let alone. They think
a. hos = 4,r IN
relieve the money market, but that, on the
contrary, there is positive danger in at
tempting such legislation. Acting upon
this theory, they will do all they can TO pre-
vent anything being done. The constant agl-
tatiOn OfsOme compromise plan, without ever
quite coming 10 an agreement, Will prJOa-
bly, keep the thing hanging in the air until
the eagerness for action has subsided. The
expectation from day to day that something
will be done is relied upon TO keep the radi-
cal silver men from acting for themselves.
The policy of the party leaders is TO keep
staying the matter of.
EDMUNDs SORE.
Senator Edmunds is sore at the situation
in the Senate. He said today to Demo
cratic Senator: ." have lived to see the day
when n Democratic minority absolutely
controls and dictates to the majority in the
SeDate.n The Vermont Senator said this in
tone Of painful regret.
SENATE.
The Senate to-day passed a number Cf
private pension bills.
Mr.. Sawyer asked unanimous consent for
the fixing Of an early day in January for
the consideration OF the Postal Telegraph
bill Mr.. WOlcOtt objected.
The morning hour having expired, the
Elections bill was laid before the Senate.
MIR. Paddock said that if the consideration
OF the pending bill was to continue without
limit and without hope, or possibly OF a
result, he would call up the Pure Food bill.
Mr. Spooner made speech in advocacy
OF the bill. Referring to Mr. Stewards
speech Of Yesterday and TO his remark that
the elections law could not be enforced in
the South because public opinion would not
support il, Mr.. SpOOner remarked: To
that complexion have we come al
lastY Have we fallen on condi-
ton in our country that calls for
preservation by virtue Of the purity OF the
ballot at the North, but that we must stop
at Mason and DxOns linel Because pub
lie opinion in the South is in favor of dis
honest and fraudulent and violent suppress
sion OF the suffrage? | cannot believe il.
Mr.. SpOoner spoke for five hours, and his
speech was listened TO with marked atten-
ton and interest on both sides Of the cham
Der.
Mr. George said he was not in the cham.
Der when the Constitution OF MISSISSIPPI mad
been under discussion, and could not now
reply 10 Mr. SpOOner's remarks, but he
would do SO in good time, and in way that
would remove the imputatiOns made upon
the Constitution by Mr.. SpOOner to-day and
by Mr. Dolph some days ago.
Mr.. Ingalls, thought IL important that
some light should be shed on the subject TO
which Mr.. George purpOsed TO address him.
.elf. and he would therefore read some ex-
tracts from speeches Of delegates 10 the
Mississippi Convention and from edi-
torials Of local papers on the subject
of the qualification as 10 the abili-
| ty TO read or explain clauses
Of the Constitution. He affirmed
| il as his understanding and belief, and as
the conviction Of the great mass Of the peo-
ple of the North, that the Constitutional
Convention of Mississippi had been assem-
bled for the ayOwed purpose OF disfranchis-
ing a majority Of its citizens who were also
citizens of the United States. IL had been
assembled for tue purpose OF nullifying and
defeating, and oyerthrOwing the amend
ments 10 the Constitution OF the United
States. by agreeing TO which the State OF
Mississippi had secured its feadmissiOn
| into the Union. Addressing his remarks 10
Southern Senators, Mr.. ingalls, said that
their people had retained representation
| In the House OF Representatives and in the
Electoral College. while they had sup.
pressed the colored vote. They had violated
| the contract. They had retained the
representation which had given them
| for fourteen years supremacy in the
House Of Representatives, and had
on two occasions thwarted the viii
Of the people by placing on one OF these
occasions in the Presidential chair man
who had never been elected to that office
| In any fair or just sense, any more than The
Khan Of Tartary or the Car OF Russia.
| Mr.. Higgins obtained the floor.
The conference report on the bill for
public building at Kansas City, Mo-, wa'
| presented and agreed.
The Senate went into executive session
and, at 5:l5, adjourned till Monday al
| 10 A. NJ.
HOUSE.
| A number of conference reports on public
building bills were agreed TO.
The Urgency Deficiency bill with Senate
amendments was then taken up. This leo
| 10 a debate, in which the financial admins
| tration OF the Government was criticised D.
several Democratic members. Finally th'
committee rose, and the bill by a vote 0
4 Fal 20