Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-12-10
BETWEEN FIRES.
The Predicament in Which the
Administration is Placed.
Financial Bills OF All Varieties Pour
ing Into the Congressional Hopper
at an Appalling Rate.
Not Likely ANY Of the Schemes for the Initiation
of Currency Will succeed in Congress
This Session.
Special TO the Gazette.

Special to the Gazette.
that strong effort is TO be made on the
part of the admin istratiou friends In
congress, who have the courage TO make
it, TO push through both houses bill in :
structing the secretary of the treasury &c
buy the speculative fund.- of SlS,-
600, 600 of silver which is estimated TO be
now lying in the market, an obstruction
10 any legitimate rise in the price OF sill
yer and an element OF uncertainty aud
discomfort all around. The only thing
in the way is the danger that when the
bill comes before one or the other of the
Two houses il will be converted there into
u free coinage measure, and then moth
ing could stop 1t except the use of ty-
rannical authority from the speaker S
char or veto from the White House {.
The administration is
BETWEEN TWO FIRES
It must either submit TO be abused by
the silver people right and LETT for its
share in forcing upon the country silver
law under which prices have steadily
sagged for months, or else { must let
things 60 as they will and face the peri!s
of u veto. Meanwhile, financial bills of
MI sorts pour into the congressional hop
per every day ut n rate that Is appalling.
One introduced By Mr.. Sherman i'll the
senate will probably arouse au auimosity
Of a certain set of brokers in precious
metals who have been prohting by ship
ping gold abroad. it proposes to amend
the gold bur act of May %, 1882, SO as TO
dotf Of fhA
several mints and of the New York assay
office may. with the approval OF the d.
rectors OF the minis, but not otherwise,
receive United States gold coiu i'll the
sum of $4,000 and upward, and give in
exchange their equivalent of gold bars &,
provided that the director may impose
for such exchange a charge which in his
judgment shall equul The cost of manu-
fucturiug the bars. This is expected to
operate as
DECIDED CHECK
on gold exports, dong away with them I,
ut anv rate in cases where the profits are
inconsiderable or uncertain.
Another of Mr.. Sherman's bills pro-
vides for the recoinDge of our badly
worn subsidiary silver coins. Both of
these bills have not only been intro
duced separately, but have been COM
bineu In one big bill along with the sub
stance OF the Sherman national bank
dill, the measure designed to reduce
compulsory bond deposits OF banks TO
500 900 each, and increase the volume
Of bank notes issued TO par with the face
value of bonds deposited as security for
circulation. Wedged in between the
hank section and the coin section is a
section authorizing the secretary OF the
treasury
TO ISSUE $500 600, 900
worth of per cent bonds of the denom-
ination OF $50 and multiples thereof, re-
dee mable i'll lawful money at the pleas
are OF the United States, and use the
money derived from their sale for the
purchase of any outstanding bonds OF
the government. This is the nearest APP
proach yet made TO getting the Window
plan before congress. 1t is, however,
not at oil likely that any OF the echemes
for initiation Of the currency will succeed
in congress this session. There Is un-
doubtedly pressing demand from many
quarters for money, and majority 10
each house Of congress are ready end
willing to comply with the demand, al
least so far as to pass bill for the free
coinage of silver, but the power tina!
controls has decreed that there shall lie
10 such legislation, and though this
power is reprepresented in minority II
is hardly possible.
TO OVERCOME 1T
with numbers. 1t might be possible to
pass bill permitting national banks to
issue up to the face value of their bonds f,
or some other measure for the relief of
banks but TOR the danger that if auy fin
ancial question Is allowed to come before
the lower house OF congress it might not
De possible for conservative fnanciers to
confius legislation within the bounds de-
sired. There Is hardly man in congress
80 blind as not to see that the present
stringency in the money market and the
almost bankrupt condition OF the treasury
and heavy burden of taxation, made
heavier by the Mckinley flaw aud the
high prices which 1t makes possible.
whether or not in every case 1t causes
them. are creating
RESTLESS, Discomfort AND ANXIETY
throughout the country. The silver
men have practical certainty OF pass
ing their free silver coinage bill In the
next congress, but they are too impa-
tient to walt SO long. They are deter
mined to pass their bill at this ses sion IL
possible, and are hard at work to that
end. The work Is no less active in the
house than II ia in the senate, but the
measure will have to come from the latter
body made to get advanced to a
position for consideration in the
house, Little doubt Is felt that
the bill will pass the senate
ind preparations are being made for it In
the house, and plans urs being laid to
force its consideration, but the speaker
and committee on coinage, weights and
measures, which Is more than likely to
do only what he approves Of, have 1t in
their power to prevent consideration OF
The matter By always keeping some other
measure in the way. This they are al
most certain to do.