The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-10-21
Bond Feature and Time at Which Silver
Purchases Shall Cease Prove Greater
Obstacles than Expected.
OUTCOME NOW UNCERTAIN
Hill Will Urge Cloture ifthe Steer
ing Committee Cannot Agree.
Alien Van Allen Confirmed as Minister to
Italy by Vote of 80 to 22-PrO-
ceedings of Congress.

WASHINGTON, Oct 2o.-It looked. at 4
O'Clock to-day, as if the terms OF the DEM
ocratic compromise on the repeal bill had
been settled At 5 o'clock the situation
was slightly changed, and it became appar-
ent at once that there was some obstacle
in the way of bringing the matuf TO a cli-
max.
The Democratic steering committee had
resumed its sitting after the close of the
executive session, and it was given out
that the only purpose OF the meeting was
to put the finishing touches upon the sub
stitute which had practically been agreed
upon. Some of the members of the COM
mittee felt so certain of the results that
they promised the Republican members OF
the Senate a copy of the bill for inspection
before the adjournment of the Senate.
While this copy was not forthcoming, Sem
ators who had retained their seats in the
Senate chamber left feeling confident that
the measure would be concluded and ready
for presentation tomorrow.
At 5 o'clock Senator German came out OF
the room where the committee had been
engaged and sent a messenger flying for
some one. He looked puzzled and disap-
pointed, and declared that nothing set
tied. Soon the word went around that there
was a ''hitch" in the proceedings. There
was disagreement over the bond feature
and also over the time at which the repeal
of the Sherman act should take effect. 1t
appears that the administration forces OF
the committee discovered when the clauses
of the proposed bill dealing with these
points was reached that they could not ac-
cept them provided in the document II
- Ill
then under consideration fixed the time
when repeal should take effect at the 1st
of January, 1895, changed the authorization
for bonds to 3 per cent interest, and re-
duced the limit on the bonds to from five
to thirty years instead of from ten to forty,
as at present provided. and confined their
use to the preservation of the parity OF
gold and silver.
From information received from others
than members of the committee. but men
who have the best means of knowing, IL is
considered probable that the administers
ton members of the committee made an eff
fort TO have the time for the expiration OF
the Sherman law fixed at the 1st of July,
1894 The same authority asserted that
treasury officials had said earlier in the day
that If the purchase of silver bullion should
cease on July of next year 1t would be pos
sible to preserve the parity without any
action whatever upon the bond question,
and, as some of the stanchest of the repeal
Democrats who are members of the COM
mttee are opposed to the bond proposition.
il is probable that the effort tonight we sS
the direction of reducing the time of the
future existence of the present lav ane
the elimination of the bond proposition ale
together.
The committee remained in session until
a quarter past 6 o'clock but instead Of
having a completed bill to hand to the Re-
publican side of the chamber, the confer
ence came to end without reaching any
agreement at all, and with the date and
bond questions undecided, but with the
understanding that another effort would be
made probably tomorrow.
Some of the silver Democrats have said
that If their party steering committee did
not reach a conclusion by Monday they
would join with the Republicans and pass
Senator Quays amendment, which extends
the Sherman law until Jan. /, 1896. year
longer than the best that is offered to the
silver men by the Democratic bill On the
other hand, Senator Hill says that he has
already received assurance of a large vote
for his proposed cloture resolution on the
Democratic side, as soon as IL becomes APP
parent that the steering committee cannot
agree The outlook is. therefore, for lively
times and uncertain results, if the commit
tee is not able To satisfactorily conclude its
labors at early day.
Tonight il was learned that seven or
eight Democratic Senator's visited Secre-
tary Carlisle as the representative of the
administration at the Treasury Department
to-day and submitted TO him a PROPOSE
ton TO take the place of the repeal measure
now before the Senate which they thought
practically all of the Democratic Senators
would support Secretary Carlisle dis
sented from some OF the terms of the prop
ostion ana showed wherein they would, in
practical operation be Objectionable. There
is excellent reason for saying, however,
that before the middle of next week the re-
peal bill will pass TO take effect later than
Oct l, 1894, probably with a provis-
ION authorizing the Secretary of the
Treasury TO issue bonds not exceeding
500 000.0 900 and coin the seigniorage now in
the treasury. This. it is said. would not be
considered surrender by the administra-
ton, and II is stated on reliable authority
that the bill passed in this shape would not
be Objectionable to the President.
Representative Bynum is one OF the un-
conditional repealers who believes that a
compromise measure would pass the House
without any difficulty. In fact. so general
is the expectation that compromise will
be adopted. some time next week. that the
House leaders are already making prepa-
rations to put an end TO the present session
OF Congress. 1t has not yet been definitely
decided whether to adjourn until the first
Monday in December the day when Con-
gress convenes in regular session, or to
simply take recess until the latter part OF
November. Mr.. Bynum favors adjourn-
ment but Speaker Crisp and Colonel Catch
ings the two Democrats who dictate the
decisions OF the rules committee, prefer a
recess until Nov. n or -. Speaker Crisp
believes that compromise will be adopted
in the Senate, next week, and that the
House will accede 10 IL without serious op-
position.
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