New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-01-17
WASHINGTON GOSSIP
rprE COINAGE NOT A CERTAINTY N THE
HOUSE.

THE SENATE
Washington, Jan. 15.-The advocates Of y frcc
damage measure say that the bill is not as strong
n the House as 1T was, and while il has easily
assoc the Senate, there is no certainty that il
will. in its present form. command a majority in
,be House. There is no doubt that mem
t.rs there have become much impressed by
Tho declarations against unlimited coinage by
came of the most important financers of the
eonptry Therefore, there is at present move
mont in the direction of compromise 1t is now
nronoscd TO make the mint charge against all
,oreirn silver, which would amount to a tariff of
On or 80 per cent, an amendment in the House
The coinage measure would then simply author
i,e the purchase of the production in this country.
This. it is argued would do no great harm and
would not be sufficient in character to send gold
70 a premium Even so extreme silver man as
Senator Jones, of Nevada, said to me the other
day that he was not an advocate Of any policy
which would bring TO us at once all of the silver
4, thp markets of the world.
The investigation of the silver pool is a small
factor in the situation. Investigations rarely
find anything. Since the DAYS of the Credit
Mobiler investigation, committee of Congress
has found anything which has been in the way
Of testimony Of more than general character.
The Investigation of the Pacific Mail brought out
fine fact that large sums of money were set aside
for influencing legislation in Washington. But.
in spite of the most searching examination, there
was no money absolutely traced to any member
Of either House. The investigation of the silver
pool may develop just enough to give doubling
members excuse for voting against free com
are If enough evidence should be brought out
10 warrant the suspicion that there was com
bnaton of members and Senators to put up the
price of silver through increasing the Government
purchase of the same by legislation there would
be good excuse, for the moment, TO vote against
any further silver legislation. 1t is difficult TO
find testimony of this character, even If silver
pool exists or has existed. The members of the
pool are not going to give evidence, and the only
way to obtain testimony will be to throw out
drag-net through the offices of the leading bankers
and brokers of New-YOrli If it can be shown by
such means that any large number of Senators
and members were purchasers of silver at the
time Of the passage of the silver legislation OF
last session. then the main object Of the invest-
CATION would he accomplished. But even then
the finding would not he conclusive evidence of
a pool. II is doubtful whether any of the bank
ers or brokers summoned would reveal the secrets
Of their clients. In every Congress there are
members who are interested in the stock market.
They are men who have habitually followed the
market and would follow it, whether in or ont
Of Congress In Congress they naturally use
the information that they obtain there TO speculate
upon There is 40 question that members
bought silver last sumner when il was probable
the Silver bill would pass. This would I've trhe
tomorrow IL another silver bill were upon the
eve of acing through. II would he true OF any
stock aflcced by any legislative act. Members
are forbidden 10 vote upon measures in which
they arc interested. Bat this regulation IS
violated often, and as there is no one to call
members TO account, the law upon this SUBJECT Is
practically dead letter
As general thing, members of Congress who
speculate upon the information derived from
legislative channels lose money. The reason Tor
this is simple. The men who own properties
Liable TO nc affected by Congressional action are
served al Washington 10y experienced and accurate
men. who obtain much earlier information con-
ccrYinc pcnding measures than the average mem
Der. Wall Street nearly always knows Just what
is going 10 he done in a legislative way before
the speculative member is fully informed. The
result is that Congressional action is nearly always
discounted. and the men in Congress who spccu-
late for rise or fall following some acts of
Congress or of the Treasury, nearly always find
that the movement predicted by them has been
anticipatcd. | have heard indirectly Of a few
mombcrs who are still carrying the silver pnr-
chased by them last summer, the market having
fallen TOO quickly for them to realize.
Ex-Minister KassOn says that he takes much
more cheerful view Of the political situation than
the average Republican lie thinks the RcpuD-
leans will win in the Presidential year without
any question. They have been punished through
misapprehcnsion and misunderstanding, and when
Ioc knpn treated what the next
HOUSE. of Representatives will propose II VIII be
ready I, come back to the Republican party to
protect It's interests.
Ex-senator Spencer, of Nevada, is in Washing
ton for few weeks. Nevada to-day is MS nome
lie has built himself a beautiful place on great
ranch in the nCighbOrhOod of mine when MI
Spencer SAYS he thinks viii be as rlch as 'ho
Comstock lode For nearly four years he has hung
on TO this property through good times ana paa
times. and in the face of tremendous discourage
ments Now, lie says, he has leached a PoihO
where his mine more than cares for itself. The
ore that he is taking out now nets 500 t"l' "llh
large percentage of gold. lie was offered the
other dav $500 900 for his two-thirds interest,
but he refused this offer His mine is not for
sale lie proposes now to settle pack ana SEQ
wha, the mine will produce under his own manage
ment Having got it into position where IL taxes
care Of itself. he thinks that it should be made
70 wor, for the Spencer family. instead OF stock
comnanv Mr. Spcnccr is between fifty and hfty-
five vears Of are lie is of medium height, WIN
a well-rounded figure His frcsh-colOred face is
smooth sbaven, with the exception of fast silver
ing mustachc and goatee. Ills eyes are biuc'
His forehead is broad. his nose straight. Ills
hair is curling, and shows odd streaks oil DARK
and light, the dark hair curling over the hGh''
Mr. Spencer, when in the Senate from Aiap'na'
was chairman Of the Military Affairs COMMITTEE
and occupied the strange position oil oeHng 'he
confidential friend of Roscoe Conkling and OliVcr
=. Morton. who were bitter enemies
Vice. President Morton is nearly always to be
fou,d IN Tho chair in the Senate lie attends
.1a.o This * contrary