The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-02-28
Bond Amendment TO the Sundry Civil
Bill Nonconcurred In by the House.
Though Favored by Grover Cleveland, II Is
Said He Would Rather Have II Fail than
See an Appropriation Bill Periled.
Improved Condition of the Financial
Situation Gratifying to the President
Money for Pensions Voted by the Senate After
q Protest from Mr.. GOrman-HOuse Bear
Garden" Called to Order by the Speaker
REJECTED BY THE HOUSE.

REJECTED BY THE HOUSE.
The Sherman Bond Amendment Noncon.
Cured In-The supply OF Gold.
Special to the Indianapolis Journal
WASHINGTON, Feb. 27.-Through the ab-
sence of g little Reed business" the last
effort to relieve the financial situation by
legislation has failed. The House to-day.
after some debate, the principal feature Of
which was q spirited speech by Bourke
Cochran, nonc0ncurred in the Senate
amendment to the sundry civil appropna-
tion bill. and sent that important measure
to a conference committee. The meaning
of this action is that the Sherman amend
ment. inserted in this bill by the Senate.
authorizing the Secretary of the Treasury
to issue per cent bonds. will be killed by
the conference committee. the House men,
bers of which are Messrs. Holman. Sayers
and CogsweIl. Thus ends the last effort Of
the Cleveland Democrats in the House to
combat the free-silver Democrats. There
is no doubt. as said Bradley Smalley.
who, with Don NJ. Dickinson. was
about the Capitol to-day representing Mr..
Cleveland. that a clear majority of the
House is in favor. not only of the Sherman
but of the repeal of the Sherman sill yer pur.
chasing act. The free-siiver Democrats
however. have taken advantage of the
weak rules of the House and of Speaker
Crlsp's dread of O cloture rule, which would
vindicate ex-Speaker Reeds administra-
tiOn, to exert their power TO hlibuster. IL
became, therefore. a question as TO whether
one of the great appropriation bills should
be defeated, thereby making an early extra
session of the next Congress an absolute
necessity, or whether there should be q
surrender TO the free-silver obstructionlsts.
The sending of the sundry OWL bill to con-
ference appears to end the chances of an
extra session. unless one Is required by the
financial situation, and at the same time 60
leave the question of currency without any
chance of action under this administration.
NEW BONDS NOT NEEDED.
1t was understood in Washin gton to-day
that there would be no heavy gold ship
ments from New York this week. This
news was especially pleasing to President
Harrison. who is extremely anxious that
this administration should close without
q necessity tor increasing the public debt.
The issue of bonds. under any circum-
stances, would have been an absolute re-
versal OF the policy which he he's consist
emily followed for four years of buying
bonds with the surplus money In she treas
ury. thereby reducing the public debt and
u
brought to the President at the
White House this morning announc-
ing that there would not be
gold shipments this week largo
free gold In the treasury Presidents Hsrri-
son did not conceal his delight. de said TO
his informant that tho question Of issuing
bonds was now settled-that there would be
no bonds issued during his admi in g tr ton
and he expressed delight that what he re-
garded as a conspiracy OF foreign bankers
to compel the issuance of bonds ad failed.
the President did not say, but there Is no
doubt that the annoqncement OF che fact
that the Treasury Department was pre-
pared to meet the foreign raid OF gold by
the issuance of bonds in case such q thing
became necessary at lnstants notice. had
much to do with defeating the plans of the
foreign banking houses, whose object was
to exhaust the free gold and then TO take
the four percent bonds at par, or nearly
at par and make q handsome profit by
marketing them at q premium. This dan.
ger. il is thought. is now passed, at least for
the present The foreign bankers have not
had the courage to play their game to the
end.
The press dispatches say: "A feeling of
confidence pervades the Treasury Depart
ment So far as known only S350,O00 in
gold has been engaged from the subtreas-
ury at New York for shipment tomorrow.
The free gold on hand is more than 81. .0Oo,-
000. Treasurer Nebeker. speaking OF the
drain Of gold that has been going on for
the past year or more, said it was largely
the work of spectators on the New YORK
Stock Exchange. The export of gold bad
the effect of bearing stocks. By selling
stocks and then exporting gold the specu-
lstors not only made enough TO compensate
them for the freight charges insurance.
etc.. on the gold shipped. but left q profit
besides. Then, too. as France and Austria
were in the market after gold, the specie
found ready sale on the other side"
SENATORS WILL BACK DOWN.
Two views relative to the Sherman bond
amendment obtain in the Senate. The in.
dications are. however. that the Senate
will recede from Its amendment In this
particular, and that the result of the strug.
gle will be that the sundry civil bill will
be passed without this amendment at
tached to it. Mr.. Teller. one of the most
ardent of the anti.bond faction, said this
evening that there was q very visible weak
ening of the forces that passed this amend
ment when it was mp for consideration. and
that when it came back from the House
the motion TO recede from the amendment
would probably prevail There has been q
quiet canvass of this matter going on for
the past two days. and the opponents Of
the issue of bonds say that they have ascer-
tanned that certain Senators voted tor the
proposition under q misrepresentation and
will hail with delight any means that VIII
permit them TO change the record as 10 now
stands. 1t Is also said that word has come
from Mr.. Cleveland that he would rather
see the sundry civil bill law than have it
imperiled by the attempt to force the bond
question. No one in the Senate, however.
Processes to speak for Mr.. Cleveland in this
matter.
well-known Senator who enjoys the
confidence of the Presidents elect said to-
day that there was no reason why the bond
amendment should not prevail and he be-
neved il would IN the end. for the reason
that it was u olean-cut business proposi.
tion that could result In nothing but q say.
ing of expenditure TO the country at large.
The administration was in favor of the
amendment IN the event of any coutin-
gency that made such an issue q necessity.
and the friends of the administration, the
Senator said. would resist any attempt to
defeat the amendment as passed by tho
Senate. The indications seem 20 be,
though, that material change of senti-
ment has been going on in the Senate and
that the amendment will be receded from
rather than that the whole bill should DO
defeated.
GORMAN'S NIGHTMARE.
ne