Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1890-12-18
AGREED ON A BILL.
Senators Construct a Measure
for Financial Relief.
THE IMPORTANT FEATURES NOTED.

Views OF sherman and window Fail to
Impress the Characterization at Last
Taken ON the Proposal to Change the
Rules-The House Passes the Appor-
tionment Bill, Many Democrats Voting
Aye-Names of the Negative Voters
Congressional Notes.
WASHINGTON CRY, Dec. IS. The Repub-
hcan senator's were in caucus for three
hours last night considering the financial
question and the question of passing the
federal election bill The result Of the
caucus was the adoption of the financial
scheme reported from the caucus COM
mittee Monday night, in substance, with
the clause providing for the issue of 2 per
cent bonds eliminated This proposition
will be brought before the senate before
the vote is taken on the federal election
bill, and afterwards rule viii be reported
to provide for establishing the previous
question, the object of this rule being the
passage of the election bill. 1t was also
determined practically that there viii be
no holidays at Christmas time
sherman Couldn't Save His Bill.
The bond proposition of Senator Sher-
man was not given up without struggle
by the senator from Ohio. He had the
caucus committee in session all afternoon
trying to agree to some compromise which
might be accepted by the caucus in place
OF his original proposition, and he urged
upon the caucus the necessity of adopting
either his proposition or that of Secretary
Window for the issue of interconvertible
bonds. Neither of these propositions was
acceptable to the caucus, however, and
the bond clause was struck from the bill.
Another important change made in it re
lated to the amount of bonds deposited to
be required of national banks The prop
| osition of the caucus committee was to re.
duce this amount to $1,000 for all banks.
The caucus agreed to reduce the amount
to 81 900 for all banks of $4,000 capital.
but to leave the law unchanged affecting
other banks
Silver and United States Notes.
The other features of the caucus bill are:
The purchase of s12 O00, 600 of silver during
the calendar year 1891, not more than
| 900 in any one month, and the issue
OF treasury notes on it according TO the
provisions of the law of July 12, 1890; the
issue of treasury notes based on silver to
take the place of national bank notes re-
| tired whenever the amount of national
bank notes in circulation shall fall below
| $ls0, Oh. 900 and the issue of United States
notes when silver cannot be had
Free Coinage Provision.
The subsidiary coin and the trade dol
lars in the treasury are to be recoined: the
issue of national bank notes is authorized
to the par amount of bonds deposited TO
secure them, instead of to go per cent as
now; and a provision is added that when
silver shall have remained at par for year
any one holding silver bullion shall be en-
titled to bring it to the mint and have il
coined into dollars at the expense of the
government.
No Christmas for Senators.
When this measure will be reported to
| the senate Is not determined 1t is not ex-
pected that il will be brought up this
| week. The general expression of opinion
was against the adjournment of the SEN
ate for the holiday season, and although
no vote was taken on this it is likely the
senate will remain in session through next
week. The debate on the federal election
bill will continue through this week, and
next week the financial measure will be
brought up, while the election bill is laid
| aside.
Action on the Closure Rule.
The motion which was made at the eau
Gus of last week TO authorize the rules
committee TO report a general rule for es-
tablishing the previous question was
agreed TO, but with the understanding
that the rule will not be adopted until the
financial measure is disposed of, or until
| IL becomes evident thar the Democratic
senators intend to prevent the passage OF
the financial measure for the purpose of
| delaying the vote on the election bill.