Morning journal and courier., 1890-12-16
THE FINANCIAL SITUATION.

Republican Senators in Consultation
 With Secretary Windom-The Sec.
 retary Commends the Proposed
 Issue of Two Fer Cent. Bonds
 Features of the sherman BilI.
 WASHINGTON, DC, Dec. .15.-The repub- ican senatorial caucus committee met this morning to consult with Secretary Windom respecting the formulation of financial relief measure, with which duty the com mittee was charged by the last caucus The secretary was accompanied by MT. Leech, the director of the mint The vari- ous propositions contained in the Sherman and Plumb bills were taken up for discus sion and the secretary's opinion was solic- ited on each point He endorsed the proposition to reduce the compulsory holding of United States bonds by national banks and commended the proposed issue of ? per cent. bonds. In regard to tho proposition to purchase the existing favor of purchase as @ means of enhancing the price of silver and relieving the financial stringency he suggested, how ever, that it might be prudent to restrict by law the amount of this surplus silver that may be purchased in any one month. The caucus committee referred the secretary's suggestions to its Sherman, Allison, Aldrich, Plumb and Teller. After two or three hours deliber- ation and consultation the subcommittee succeeded in reaching decision as to the nature of the report, and their action was promptly ratified by the full committe, and will be submitted to the caucus committee tonight in the shape of bill to be drafted by Senator Sherman. The main features of this measure will be: A provision for the purchase of the twelve million surplus within one year, the purchase of this ac- bullion in any one month Gin addition to the purchase of 4,500, ,000 ounces per month now required by law) the issues of 9 per cent. bonds not to exceed $15, ,000, ,000 in amount, and the purchase of sufficient silver bullion tin addition to the foregoing requirements) to make good the deficiency in the ational bank circulation whenever that circulation falls below S1S0, 100000 (by means of treasury notes based upon the bullion thus purchased.) In case bullion of insufficient amount to meet this deficiency cannot be obtained, the deficiency in circulation is to be made good by the issuance of ordi- nary treasury notes. In addition the bill will contain a clause providing that when the price of silver shall for one year remain constantly at or above the legal "par" with gold any holder of bullion may deposit it with the treasury and have it coined into standard silver dollars and receive treasury notes therefor. While the committee neglected to specific action upon the subject of deducing the amount of compulsory holding of United States bonds by national banks all the members appeared to be in favor of legislation for that purpose and provision will doubt less be inserted in the bill by the caucus. It is learned that the report above out lined did not meet with unanimous ap- proval of the committee or subcommittee in every particular, some members re- serving the right to express their indi- vidual views in caucus.
 WASHINGTON, D. O., Dec. 15.-The re- publican senatorial caucus tonight was inconclusive so far as concerned the main purpose upon scheme of financial legislation. The report of the caucus committee as agreed upon to-day was presented and discussed. The 2 per cent. bond project was eliminated in short order, appearing to find few friends. The twelve million bullion purchase provision seemed to have great strength, but neither in it's case nor in that of the re- maining propositions contained in the caucus committees report was final ac- ton taken, owing, it is said, to lack of time