The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-12-31

bic, in order to take advantage OF the re-
duced duty. This same reason Is given by
the majority members OF the committee
for the belief that the revenues under the
new bill will be much larger than the ng-
Hres sh9T The rsyen9e Ss 0 from nd import e b
lieved that for 1894 the figures will be far
below that; in fact, the present month
shows a large falling on, due largely. II
OF the new bill.
Chairman Wilson is looking UP data for
his tarin speech. Representative Whiting,
WHO is also a member of the ways ard
means committee was also at the Capitol
to-day, and there was some talk on the
present condition of the treasury and what
should be done to relieve IL. AS anything
that might be done In Congress ~ould have
to come before the ways and means COM
and when questioned regarding the treas
ury's condition and the remedy, replied
We have nothing before u.s."
do you regard the condition of the treas
ury as serfous? he was asked.
on. yes; there can be no doubt as to
that. but the United States is able to take
balance, which is below sl00. 600, that need
disturb us, but the ShortneSS of the avaIa-
bic cash 10 pay obligations"
THE remedy Is easy" said Mr.. Whiting,
when his opinion was asked. THE govern
ment could issue $5O,000,000, or such an
amount as was necessary, of legal-ten6er
notes, redeemable in gold 1t would be the
most popular thing the government could
do. OF course. not being Understanding,
IL
the same amount Of interest-bearing notes
or bonds, il would suit large class and
be heralded as a legitimate transaction.
The banks want bonds"
But if the bonds were issued in small
denominations" said Mr.. Wilson, $50 that
any person could take them who had small
amounts to invest, there is no doubt that
large proportion would be taken by small
holders"
the banks" replied Mr.. Whiting. 1.-The
small holder VyOIll1
he would pay the banker.
Mr. Wilson would not indicate what would
be done nor would he say in advance of the
next meeting of the committee whether it
would be necessary to have a further COM
munication from the Secretary OF the Treas
ury than the suggestions carried in the an
nual report. Mr.. Whiting said he thought
bonds would be issued, and that Congress
would authorize the Secretary to issue
bonds as suggested in the annual report.
Mr. Wilson was asked il the new tariff bill
would make the balance Of trade against
this country SO large as to disturb the gold
balances and make the demand on the re-
serve so great to cause any apprehen-
sion concerning it. He replied that any ten
years OF the country's history would show
even 'It is a matter of barter, anyway
he added. 'The balances are not paid in
gold but IN of Iannen nf the goId no %
Mr.. Whiting was of the opinion that the
matter would be brought up in Congress
by the introduction of a bill which would
tee for action.
Senator Allison, in a brief conversation,
to-day, said there was little Ga no doubt
that the Senate committee on finance, of
which the Senator is a prominent member,
would grant hearings 10 interests effected
by the tariff bill when that measure reach
es the Senate where demands were made
by persons representing sufficiently i'm
portant interests TO consistently demand
the attention of the committee. He said
also that the committee was very hopeful
of securing many replies TO the circular
letters which were being sent broadcast
over the land. He thinks these replies will
furnish many valuable suggestions to the
members of the committee. There are in
creasing indications that the passage of
the bill In the Senate may not be as GER
tain as was supposed before 1t was put into
shape, and there. are Senators who say
openly that If the bill should pass the
House unchanged and be reported from
the Senate finance committee I'm the same
condition, IL could not pass the Senate in
that shape in any event. There are many
items upon which the Democrats could not
muster a majority, and which will probably
be defeated by combination with the Re-
publicans IL they cannot be changed in
cOu1mittpp