The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-12-16
PREVENTION OF PANTCS.
THE REPUBLICAN SENATORIAL
CAUCUS IN SESsI ON

Sherman Submitted to the Caucus
at Mig -t-Harrison Not to Send in a
Messa q.
WASHINGTON, Dec. t5.-1his was a busy
day for President Harrison and the repub-
lican senators. The President, strenuous az
ever against free coinage and strenuous as
ever for the force bill, could hardly he
dissuaded by the republican senator's, who
called on him, from sending in at
once message on one or both subjects.
He not only saw the senators who called on
him voluntarily, but he sent for others and
leotured them all about their duty. He is
said 10 have threatened some Of them that
he would not be a candidate In 1892 il the
force bill failed or il a free coinage scheme
passed. This threat only mado them
smile. At the capitol Secretary Window
surprised the republicans Of the finance
committee, except Senator Sherman. who
knew he was coming, by appearing in the
midst Of them and giving them
his views and opinions from Waii street, as
well as the messages with which the Presi-l
dent charged him when he stopped at the
white house on the way up. The republi-
can senator's especially those from the weat,
ference, which they pronounced embarrass-,
ing, to say the least. All day long they
were conversing In cliques over the differ
ent financial schemes proposed. The leaders
were working hard to bring about cora-
promise agreement before the general
caucus should meet tonight. Messrs. Hoar
ana SpOoner meanwhile making a last
effort for the force bill.
SESSION OF THE CAUCUS
CBu the associated Press)
WASHINGTON, Dec. 15.--The republican
senatorial caucus committee met at 10
o'clock this morning to consult with Secre-
tary Window respecting the formulation
Of financial relief measure. with
which duty the committee was charged
by the last caucus. Secretary Window was
accompanied by Director of the Mint
Leech. The various propositions contained
in the Sherman and Plumb bills were taken
up for discussion, and the secretarys opin-
ion was solicited on each point. He in
dorsed the proposition TO reduce the COM
pulsory holding Of United States bonds by
the national banks, and commended tho
issue Of 2 per cent. bonds.
PURCHASE OF SURPLUS BULLION.
In Iegord TO the proposition TO purchase
the EXISTING surplus of silver bullion now In
the country. Secretary Window took posi-
tive grounds in favor Of the purchase as n
means of enhancing the price Of silver aud
relieving tho financial stringency. He
suggested, however, that 1t might bs
prudent to restrict by law the amount
Of this surplus silver that may be
purchased In any one month. The score
tary left the capitol early Ia the afternoon,
and the cancus committee referred bis suR-
gestions to its snboommittee, consisting OF
Messrs. Aldrich, Plumb and teller. After.
two or three hours Of deiiberntion and con-
mi tat ha m toa glyCCpp1nd N
reaching decision as TO the nature Of their
report. Their action was promptly ratified
by the full committee and ordered subj
mitted to the caucus tonight In the shape
Of bill TO bs drafted by Senator Sher-
man.
MAIN FEATURES OF THE MEASURE.
The main features of this measure ara a.
provision of IL. 900 900 silver surplus withins
one year. purchases on this account not TOT
exceed S3.00O,0OO worth OF bullion In any,
one month dn addition to the purchase ofi
4,500, 900 ounces per month now required by,
law the issue of per cent. bonds, not to
exceed Sl00, 100000 in amount, and tho pur-'
chase Of sufficient silver bullion in ad-I
dition to the foregoing requrementsi
to make good the deficiency
In the national bank circulation, when-
ever that circulation falls below siSO.O00,-.
900, by means of tho issue OF treasury notes
based upon the bullion thus purchased
In case bullion in sufficient amount to meet
this deficiency cannot be obtained, the def
cheney in the circulation Is TO be-
made good by the issuance OF ordf-
nary treasury notes. In addition the
bill contains clause providing
that when the price OF silver shall for one.
year remain constantly as or above legal
''par" with gold, any holder Of bullion may
deposit it with the treasury and have it
coined into standard silver dollars or receive
treasury notes therefor.
BONDS FROM BANKS.
While the committee neglected. TO take
specific action upon the subject OF reducing
the amount Of compulsory holding Of United
States bonds by the national banks, oil the
members appeared to be In favor of legisle-
tion for that purpose, and provision viii
doubtless be inserted In the bill by the cad
Gus. It Is learned that the report above
outlined did not meet with the unanimous
approval OF the committee or subcommittee
IN every particular. some members reserv-
ing the right 20 express their individual
views in caucus.
THE CAUCUS AT NIGHT.
The caucus tonight was inconclusive as
concerned its main purDose-agreemenr
upon scheme of financial legislation. Tbs
report of the caucus committee, as agreed
upon to-day, was presented and discussed in
permitted. Tho per coat. bond PROJECT
was eliminated in short order, appearing
to fird few friends. The 12000,009
bullion purchase provision seemed to have
great strength, but neither in its case nor,
in that OF the remaining propositions con-
tanned in the caucus committee's report
was final action taken, owing, it is said, to
the lack Of time There was great deal OF
discussion and expression of individual
views which may be summarized as in
dicative Of the willingness Of strong major
ity of the republican senator's to considerably
enlarge the monthly purchase OF silver
bullion, probably TO the extent Of $6,000,-
900 or 81, ,000,000 The report Of the COM
mittee went over for further action at au-
other caucus to be- held in a day or two.
The pending elections bill was not even dis
cussed, and the understanding is that it will
remain before the Senate at least until the
next caucus makes some order in the mat
ter.
HARRISON woN'T SEND A MESSAGE.
The President has abandoned the idea Of
sending a special message to congress in
regard to the financial situation, being
satisfied, 50 it is said. of the
earnest purpose Of the majority in
congress 70 take prompt steps for
the expansion OF the currency. Secretary
Window has. however. prepared special
report % cong ess indorsing what is gener-
ally known as ''the interconvertible bond
scheme" This report is now ~ print, bug