Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1890-04-15
MATTERS OF MONEY
Continue to Worry the States
men at the Capital.
TALKING UP A COMPROMISE BILL.

secretary Wtndom corners Win the
House Republicans the Much-De-
bated Silver Question-Plumb and Far
well Have a Couple of Schsmes-Prep
arations for the Funeral of Mr.. Randall
Both Houses Do Him Honor-Na-
tional Capital Notes.
WASHINGTON CITY, April l5-Ths COM
mittee appointed by the Republican caucus
Of tho house to consult with the senate
caucus committee with regard to formulat-
ing compromise silver bill, held two meet
fngs yesterday. At the morning session
there was long discussion concerning the
relative strength of the senate and house
bills, but no attempt was made TO bring out
the views entertained by the various men,
bers by means of vote A majority of the
members, however, were plainly in favor OF
formulating measure on the lines of the
house bill, with certain concessions to the
extreme silver men.
Window Talks to the Committee.
Secretary Window and Director Leech, of
the mint bureau, had conference with the
committee during the afternoon. The
chances of a veto OF any bill that would not
meet the presidents stated views We're dis
cussed, and it was agreed that caution should
be maintained in presenting plan for the
settlement of the question TO the house
There was an almost general expression of
opinion in favor of clinging TO the lines of
the house bill with concession to the silver
men providing for the redemption of bullion
certificates in lawful money or coin at the
option of the secretary of the treasury.
VIII Insist ON the Senate Bill.
The senate caucus committee devoted the
anti ira aff 70 ion, So ha
silver question The stand of the house
committee was discussed and there was
some talk of conceding certain points to
them, hut when the meeting adjourned it
was with the understanding that the senate
bill should be insisted on when the joint
house and senate caucus committees meet.
Plumb's Financial Proposition.
When he introduced in the senate his bin
for the mobilization" of all the national bank
redemption fund except $40, 600, 600 yester-
day, Plumb submitted few remarks on the
financial situation He said that there were
less than SEQ, 900, 900 of circulation for the
use OF the S65 GOO, 200 people of the United
States-probably not more than $40 per cap
ita. The system of finance that had been
built up and maintained had brought about
the result. 1t had its merits, and it had its
great defects. One of the greatest of these
defects was the compulsory holding in the
treasury of that very large sum of money
on the theory thati was needsi "a theory
confuted by every known facD, and on the
further theory that the secretary of the
treasury was to be the arbiter of the finan-
cial questions Of the people, o.. =
Too Much R,SslssssT for the Secretary.
~ mad been stated in the public prints that
in pursuance of his policy of controlling the
finances OF the country the secretary of the
treasury had contracted the currency dur
ing the month of February over $40, 900, 600.
Plumb believed that retention of money in
the treasury and that assumption on the
part of the secretary to do what might have
been once proper, but which now consti-
tutes menace TO the business of the
country, ought to be- prohibited by law.
From every quarter there was abundant
evidence that the public needed. for the
transaction of its business, that this money
in the rsasury should be dis 1ursed For all
useful purposes it might as we'll be in the
bottom of the sea as in the treasury.
Bad State of Affairs.
The business of the country was lenguish-
ing. New enterprises were withheld. Old
enterprises were struggling to keep on their
feet And there was dread and terror and
apprehension "ueFe There ought 10 De nope
fulness, helpfulnsss and enterprise. That
condition of things would continue until the
remedy was provided, and that remedy
could only come by legislation because legis-
lation, combined with executive action, had
brought the country to where it now was
Fsrwell Also Has a scheme.
Senator Farwell has prepared aud will in
troduce in the senate bill repeating the
present law, which requires the treasury de-
partment to deposit its surplus fund with
the sub-treasUries, and will provide that the
surplus be deposited with national banks
upon approved security. There is some
thing like $500, O0O. 90 of this surplus fund"
said the senator, "and see no good reason
why it should not be deposited with the
banks instead of being pied up in the sub
treasures, aud thus increase the amount of
circulating medium"