Evening capital journal. (Salem, Or.) 1888-1893, 1890-12-15
FINANCIAL.
The Money Stringency Be.
Iie'ed to be at an End.
THE PRESIDENT FAvORS MORE SILVER
Congress tn Authorize the Issue
Of Additional Currency
Based Oh Silver.

: NEW York, Dec. l5.-The Her
aid this morning says the man VII,
IL not hapry after tomorrow Is ,
hopeless case. This I hruse is u fail
sample Of the sentiment Of the solid
men who fr, queni,d the corridor,
Of the Windsor hotel last night.
nIany Of them were railroad mag.
nates, who are here to attend the
great meeting ut the house of J.
Pierepont Morgan but u goWdly y
number were men whose feelings
are not apt to get the BETTER of theh,.
Whether this note of hopefulness
was due more to the proximity of
London gold than 10 the visit Of
Secretary Winioni, would he dill.
cult to d. eide, but 1t Is very sufe to
assume that both Of these favOring
auspices had much to do with the
changed aspect Of the future.
u was said on the very best
authority, when Secretary Window
left for Washington yesterday, that
IL was undersi,Nd immediate steps
will be taken by the government to
carry out his suggestion for the pur-
chase at lS, ,O00,U 600 ounces of silver
bullion, now nfluat III the country in
addition to the regular monthly
purchase of 4,5O0, COO ounces. 1t is
also intended To procure for the Sec
retnry power to buy more silver aud
to issue notes for these purchases to
the amount of 81 800, 900 month,
the amount o, the nionthly relirc-
nneut Of national bank notes. OF
course, 1t is pretty generally agreed
he surplus Of silver bullion afloat IL
much in excess of lS. .00O 900 ounces,
but the purchase Of this amount by
the government will, II is believed,
very materially assist to relieve tue
strin pency.
CHICAGO, Dec. 15.--A special dis
patch from Washington 10 tie
Times says: a Washington official,
holding high position IN the treas
nry d, parlme.t, who does not care
to le quoted, IL authority for the
statement thut President HarI isOn
will Tomorrow send TO cOncr' ss a
special message on the silver .ues-
lion. IN this message, II Is said, he
will advise the passage Of bill pro-
viding for the issue of additional
currency, having for its hasis the in
purchase of silver.
II IL stated un unquestioned au-
thority that the president las aclu-
ally drafted the message, aud IL fuct
submitted to his advisors at the ]; 81
Of the cabinet, but silver
nre of the opinion that the
will not go I" congress until
after runother cabinet meeting. Since
the opening of congress, senators in
in the purchase by the eov-
of the silver output Of The
West have labored with the presi-
dent to induce him to take tue ac-
tion here uut lined.
Friends Of the force bill have been
particularly Interested for the
reason that as |, ny ~ the silver
uue.ti N remains an 81 en- one just
80 lng the danger will CONFRONT
them that the democrats IN the Sen-
ate n,uy unite with the silver men
in u "trade" deal, by which the
uussage Uf n liberal silver measure,
uud the death Of the force bill would
bc accomplished at the same time.
There Is u general understanding
that when the proper time arrives
the democratic senators VIII "fler
what will he equivalent to II silver
or u substitute for the
force bill, which will in effect provide
for the free coinage Of silver. Seha-
tor Hn.r, who is recognized as pilot
of the furce hill, has already bteu
ut some pains to state that president
Harrison will under no circ''mi'
stances sign free coinage b'l'.
Senators Stanford, Teller aud one
or two others have replied, however,
Int the issue may Le left with the
president after the senate has passed
the bill. All their constituents ASK
IL that they shall vote for free silver
mud the responsibility Of the veto
will rest soleiy with the chief execu'
tive.
ANOTHER FAILURE.
SrARKsviLLE, Tenn, Dec. To-
Huncock, Italian 4 Co.. proprie'ors
of n rr,nery aud tobacco warehouse
,ss;r ned to-day. Liabilities $780,
ooo. The assets it is thought VIII
exceed that sum.