The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1890-12-16
LOOKING FOR MEMBERS IN A POOL.
Congress Will Investigate the Story
of a Big Silver Deal.
The Wavs and Means Committee
and the Money Market.
Senator hoar Still Hopeful for the
Elections Bill.


WASHINGTON, December 15.-The COM
mitee on rules of the House have practical
ly decided to order an investigation into the
story of the alleged silver pool said to have
been made by certain prominent Senators
and Representatives who favored liberal sill
YER legislation last session and wers ready
to profit by it. The story is that while the
silver bill was pending last session num-
Der of Senators and Representatives, most OF
whom were of free coinage views, and In
cluding in their number both Democrats and
Republicans, formed pool, as soon as they
saw that a. silver bill would pass. and bought
up an immense quantity of silver bullion TO
hold it for the expected rise. Just what the
pool did with this silver is the subject OF diff
ferent reports. The statement has been pub
lished that they sold it when silver went up,
thereby realizing an immense amount OF
money, Another report Is that the members
of the pool pledged themselves to hold on
until silver should 60 up to 122; that the
price went up nearly to that point but
slumped back and that, consequently, the
pool have the bullion on their hands and arc
very anxious to sell IT, 1t is even rumOred
I'll at the pool Is largely responsible for the
suggestion that Congress can In no
way alleviate the financial stringency so ef-
fectually as by authorizing the government
to buy more silver bullion. course. 1t
would be good thing for the pool to have
the government buy more silver as IL would
enabie them to unload at good profit, sup
posing the story to be true that there Is
pool and that 1t is still carry Ing the bullion
1t is said that the commit ee on rules have
before them no evidence that any such
scheme has been worked but, in view OF the
widespread repOrts of such deal and In or
der to vindicate the reputation OF Congress,
they are said to be practically agreed that an
investigation should be made. Probably the
work will be given TO select committee.
The ways aud means Committee has decid-
ed to aid In relieving the financial situation
by bringing in bill TO extend the time when
goods imported before the Mckinley Dill
went into effect must be taken out OF bond
When il became certain that the Mckinley
bill would become law the importers made
haste to import all they could of certain
lines of goods upon which the new law
would raise the duty. In this way millions
Of dollars worth Of goods were DR. ught into
the country. The importers did not pay the
duty at once but put the goods into bonded
go !ernment warehouses whence they might
get them whenever they would pay the du-
Ties. The law provides that these goods
must, however, be taken out OF the ware
houses and the duties paid by February
1T. As the time approaches the importers
fud themselves in straits and wish the lime
ex ended to July 1st. The ways and means
committee has reported bill to do this and
atIemuted to get unanimous consideration
for it this afternoon out of the regular order.
But objection was made from the Demo-
cratic side. The Republicans did not object
bur sume of them, especially from the West,
may oppose the bill when 1t comes up again.
Said prominent Western Republican to-
night: THE importers defeated me In my
district by the humbug cry of high prices
that they made, and now am disposed to
let them fry in their own fat"
Senator Hoar seems quite confident today
of the passage of the elections bill, but his
confidence does not seem TO be shsrtd d to any
great extent by other Senators. The silver
Senators will not favor it unless they can do
better for silver by favoring it than by op-
posing.