New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-12-24
THE SENATE FINANCIAL BILL.
AMENDED BY THE COMMITTEE IN TWO M
PORTANT PARTICULARS
BOND SCHEME RESTOREp-TnE ISSUE To BE
5000 600 ooo-sIGNIFICANCE OF THIS MOVE
TBY TELEGRAPH TO THE TKBUNE.1


500. OoO. SIGNIFICANCE OF THIS MOVE
fBY TELEGnArm TO THE TmBUNE.1
WASHINGTON Dec. 23.-AH effort 10 secure united
Republican action in the senate upon the Financial Dill
agreed to at last Wednesdays conference was pi1'u
cay abandoned today by the members OF the finance
Committee and before reporting the caucus bill to the
senate Mr.. sherman had it taken mp again IN com
mittce and amended in two important particulars
The section heretofore numbered 4, which provided
for the issue of Treasury notes either silver buon
or simple legal tender" to take the place of National
bank notes withdrawn from circulation beIo" the hNcu
limit of SlsOOOO 900 stricken out OF the proposed
measure and the section in the original dIait ana ai'cf
ward discarded by the authorizing the Issue
Of per cent bonds was restored 10 It's old place. The
Issue Of the new bonds was limited in amount, In the
first draft to SlOO.OOOOOO. The committee 70 day de
cscd 10 raise the figures to $3OO.OOO0O0. The per
cents are TO be rcdeemable after jny l. 1900,
and are to be used in rcfunding the outstanding Ma
tional debt The text of the section added today to
the bill is a. follows:
That the secretary of the Treasury is hereby author
lied 10 issue in q sums not exceeding IN me
AGGREGATE 500 100000 coupon and registered boIus
Of the United states in such form as he mE piEs' t
and Of denomination, of so or some mIupe ~ o'",
sum rcdccmable in lawful money al IN" peasni" oi
the United states on and after July l. 1900 ana bc;
ing interest semi annually az the i1tc u per cen.
,r a"nng, And he Is authorized to sell or dispose -
The bonds issued under This act at not les man l,
par value for any lawful money oi the ni,eu ,'aC
or for gold silver certificates. and 10 apply me Po,
crcds thereof To- the redemption or 10 uc pUI' ~
any of the bonds Of the United states Ana ING i,Hun
hereby authorized and the proceed, Thereon NhiI c
used for 10 other purpose whatever Una me >lm -
nav the expense Of issuing and dspo'lhe OIL ,hc >'u
bonds j., hereby appropriated ont OF any sum ~ Ho"''
i'm the Treasury not otherwise dppIOprh'tu
The action OF Tie committee IN amending the oh
- meet its own views is plain notice To the extreme
FREE coinage men that they not 10 have monopoly
NJ the power TO direct financial legislation III u"
senate: and that they cannot join in making an agree
meut then calmly announce that they are not 10 Dc
hn.ud lv IT, and vet expect the rest OF the hePin
Hcau, TO stick the text of the compromise anu Try
10 carry II through. a., ,od,r aud
The new measure will 20 to the calendar anu
a. Mr. stewart gave notice to-day that he WouId OFF,
a fro. coinage amendment 10 il ~, soon a. tIc n.I
sholt he taken up Mr. sherman VIII lc in no lh>tc 10
ask Il, consideration hv the senate ne rec ION ,'
and c rule 10 close debate introduced iooiN ~ H'
Aldrch. will occupy the attention OF IN, Nta'' tN
some little time L. come. and II may Zoe lh'l uf
frrp. coinage extremists Will re the Important ~
ador-.Y- the new rule before attempting 10 t'' N
financial question again 10 the front. Tor tc success ~
any financial bill al this session VIII J." lh~t u. w.
nrudcut on the enforcement of The previous qC,@ pom
In -. senate a. S the passage Of tire IIl"h OH LOW
rbr extreme free coinage men NAV. however conc unc
,u,fhor alliance with the Democrats Do the hl'INl
a., ~ radical silver bill. But IN that a." everything
Viii 90 10y the board. and the tl'thou bIl l.', i,
rule and all proposed financial lc--lat"" VIII uc
mad. equally impossible.