The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1893-08-23
THE FINANCE COMMITTEE.
Will Report a Repeal Bill in the Near
Future,

The meeting of the senate finance COM
mittee today was attended by every
member, and conclusions were reached
which may enable the committee to. re-
port repeal bill tomorrow. There has
been, from the day the committee first
met this session, a difference of opinion
between the silver and anti-silver men
that apparently could not be reconciled,
and although there has been a very free
discussion of the matter these differ
ences are no nearer settlement than when
the conferences began. The attitude of
the chairman, Mr.. voorhees,, today, how,
ever, gave the silver men on the COM
mittee but little hope, for he said that
he would vote to report favorably re-
peal bill, provided there was a declara-
ton coupled with it declaring for BIZ
metallism. The bill when reported will
contain such a declaration, and the vote
by which it will be reported is estimated
by members OF the committee at o to .,
the minority consisting Of Senators Har
ris, Vest. Vance, Jones of Arkansas and
Jones of Nevada. When the committee
adjourned all had been substantially
agreed upon but the verbiage of the
bill and particularly the language of
the declara ton in favor of bimetallism.
When it is reported the chairman will
ask that a day be fixed for the taking
of the vote and the suggestion will be
made that this day be almost Immediately
after the conclusion of the vote in the
house OF course, this will be opposed
by senators on the floor and among them
will be members Of the finance commit
tee itself.
During the discussion in committee
every member has at one time or another
expressed himself as being in favor Of
HI ,fnl1f lem 1arrf of lir1in
exists as to whether this country can
maintain a parity of the metals. Some
have argued that this cannot be done
without an international agreement,
while other members insist that it could
be accomplished by an adjustment of the
ratio and special stress was laid upon
the fact that England was now coming
the Indian rupee at a to l and main
tanning the parity of gold and
silver at that toda proportion nas En-
serted, buying silver and coming it at
that ratio and maintaining its. parity;
If she could do it, the United States
could do likewise. However, the anti
silver men of the committee have
fused to consider anything in the way
of a compromise and discuss the ques-
ton of increased ratio as something that
can only become feasible after an inter
national agreement.
There has been the utmost good feel
apparent all along that the silver men,
approaching the hopelesSness Of the
struggle there, have been rather reticent
and have reserved their heavy ammuni-
ton for the fight that will come later on
the floor of the senate.
At the meeting today the draft of
declaration for bimetallism was sub
mitted which favors the continuance Of
the use of both gold and silver-to the
extent of existing coinage-as unlimited
legal tender, and declares that all our
forms of money, whether gold, silver or
paper, should be maintained at a parity
and equal in purchasing power. 1t will
further declare that every effort shall
be put forth to secure an international
agreement for the adoption of a fixed
ratio between gold and silver. This
declaration, a prominent member of the
committee stated, would be worded so
that it could be interpreted any way
to suit the position of the member. AM
biguity, ne boldly stated, would be sought
rather than avoided, in order that the
bill might be reported. With the favor
able report on repeating the purchasing
clause OF the Sherman act, coupled by
the declaration here indicated, the COM
mittee was able to at least transfer the
scene of the struggle to the floor of the
senate, and, according to the program
today, the report will be made tomorrow;
subsequent events to become matters of
conjecture.
A member of the committee opposed
to the purchase of silver said he believed
the bill would carry if it could be brought
to a vote, and that there were twenty
five republicans and eighteen democrats
who would vote for the BILL not counting
three or four others who might be con-
sidered In the same column. He thought
the senate would agree to a time for
the vote after the result in the house was
known.
On the other hand a silver member Of
the committee stated in positive language
that they were not children to be fooled
by sop in the shape of a simple declGr-
alton that was but juggling of words
and meant nothing. When the bill came
before the senate, he declared, the silver
men would amend II so that Mr.. Voor-
hees would be compelled to vote for 1t.
This senator secuted the idea of there
being votes sufficient to pass the bill,
and added that ~ S=ss-s ss=-sss: the silver