The enterprise. [volume] (Wellington, Ohio) 188?-1899, 1890-12-17
Washington Letter.
fFeOm our Regular Corespondeat.l
WAsHINGTON. u. O.. DEC. u i0l


The President has for several days been
holding conferences on the financial sit
uation with Republican leaders. in and
out OF Congress and il has been de,ermin
ed that Immediate relief is necessary.
The Secretary Of the Treasury has gone
as far as he possibly could both in The
purchase Of tonds and OF silver to relieve
the sfringencY In the money market, and
II now deyolves upon Congress 10 devise a
quick method OF putting more money in
circulation. Everybody iavors bringing
about that result, but SO far, unfortunately,
there is no unanimlty as to the ways aud
means Of dong il. More than dozen
mciliola;g we been proposed in hlls in.
sr6ddced Ho6se and Senate, add II is
to arrive ut some conclusion, which will
embrace the composite views OF leading
Republicans, that these conferences are
being held.
Senator Shernan's idea, which has been
introduced as a bill, and which is receiv.
ing the closest attention because of his
well known conservatism in financial
matters, is TO reduce the amount of United
States bonds required OF National banks,
and thus restore TO active circulation be-
tween S15O0O,OO0 and S2O,OOO,OOO. But
the idea which seems to promise the
quickest relief, and which also seems TO
have the most supporters, is that the Sec
relary OF tile Treasury be authorized TO
purchase all the silver bullion now ON
storage in this country, which is cstimat-
ed to be about thirteen million ounces,
aud tO issue IN payments therefore silver
treasury notes authorized by the silver
act which became law at tue last session
0f Congress.
Representative Peters, OF Kansas, says:
~ Intend " introduce bill providing for
the issuance by the Treasury Of notes on
all bonds deposited for thut purpose to an
amount equal TO the lull face value OF the
bonds, and in addition sum equal to
about three and half per cent interest
up to date Of maturity OF the bonds-that
is ~ issue notes on bonds and interest"
Senator Plumb has introduced com-
pound bill to reduce the amount of bonds
TO be required Of national banks; to re-
puce their surrendered notes and for the
tree coinage OF silver lie has also offer
cd the same material as an amendment to
u bill now on the calander, 30 that he may
be able to bring the matter before the
Senate without waiting for report from
tie Finance committee. lie also gave
notice that If the Federal Election bill
was not soon disposed Of, that he should
move to lay II aside for the time bsing, In
order To consider his bill and others re-
lallng 10 the financial condition of the
country.
Speaking Of financial matters, Senator
German Is being very sharply criticised
for language he used on the floor of the
Senate, in order 10 make political capital
against the election bill. The language
being calculated 10 add TO the financial
scare already existing throughout the
country, worst Of all, causelessly. Many
Democrats have condemned the lack Of
judgment on Mr.. Gormans part, and ex-
pressed the fear that II would injure
their party with the business men. Fit
doesn't Il will be strange. just now every
man should be trying 10 inspire conf
dence. instead Of trying to create panic
The Census committee Of the House has
agreed to, and will report, an apportlon-
meni bill providing that after the Bird Of
March, 1893, the House Of Representatives
shall be composed Of $50 members, ap-
poriioned as follows: Alabama 0; Arkan