Arizona weekly citizen., 1890-12-20
The Pre- ident Holding Con
 ference on
THE FINANCIAL SITUATION
Senator .herman's idea on M0n-
 ey Matters.
Peters, of Ksnsas--SenatOP German Sharply Critized for Language
 Used on the Senate 1oor. -..

l WASHINGTON, Dec. 17.-The president
 has for several days been holding con
 ference on the fnancial situation with
 republican leaders, in and out of con-
 gress. and 1t has been determined that | immediate relief is necessary. The sec
 retary of the treasufy has gone as far
 as he possibly could both in the pur- cha:e of bonds and of silver to relieve | the stringency in the money market,
 and it now devolves upon congress to
 devise quick method of putting more
 money in circulation. EveryDody ia vors bringing out the result, but 50 far, unfortunately, there is n unanimity as to the ways and means of doing 1t. More than dozen methods have been pro-
 posed in bills introduced in house and
 senate, and it is to arrive at some con
 clusion, which will embrace the compo-
 site views of leading republicans, that
 these conferences are being held.
 Senator Sherman's idea. which has
 been introduced as blil, and winch
 is receiving the closest attention because
 of his we'll known conservatism in finan-
 cial matters is to reduce the amount of
 United States bonds required of Nation -al banks, and thus restore to active cir culation between s15,000,000 and S2O,- 100000. But the Idea which seems to promise the uickest relief and which also seems to have the most supporteis S, is that the secretary of the treasury be authorized to purc aase all the silver bullion now on F' r8 s in this country, which is estimate, De about thirteen million ounces, I4 to issue in payment therefore silver treas ury notes authorized by the silver act which became law at the last cession of congress.
 Representative Peters, of Kansas, says: "I intend to ntrouce bill providing for the issuance by the treasury of notes on all bonds deposited for that purpose to an amount equal to the full face valUe of the bonds, and in addition a sum equal to about three and a half per cent interest up to date of maturity of the bonds-that is, to issue noted on bonds and interest"
 Senator Plumb has introduced con- pound bill to reduce the amount of bonds to be required of national banks; l to replace heir surrendered notes and for the free coinage of silver. He has ! also offered the same matter as an | amendment to bill now on the calen- | dar, so that he may be able to bring the | matter before the senate without wait | ing for a report from the finance com | mittee. He also gave notice that if the l Federal Election bill was not soon dis l posed of, that he should move to lay it ] aside for the time being, Tn order to con- slider his bill and others relating to the ! financial condition of the country.
 Speaking of financial matters, Senator i German Is being very sharply criticized 1 for language he used on the floor of the ! senate, in order to make political capital against the election bill. The language being calculated to add to the financial scare already existing throughout the country, and worst of all, causelessly. Many democrats have condemned the lack of judgment on MT. Gormon's part, ! and expressed the lear that It would ln- jure their party with the business men. 1 If it doesn't it will be strange. Just now every man should be trying to inspire | instead of trying to create a | panic.
 A caucus If republican senator has 1 appointed five Senators as auxiliaries to ! the republican members of the Finance | and instructed them to pre- ] pare and report to another caucus to be ! held next Monday night, bill to afford , financial relief to the country At the 1 same caucus the question of changing | the rules of the senate in order to dis pose of the Election bill, was discussed ! but it was postponed to the next caucus.
 The senate is now putting in thirteen hours day on the Election bill, meet ! ing at 10 o'clock iD the morning and : holding night sessions.