The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-01-14
Senator Jones, of Arkansas, Thinks
He Can Harmonixe the Different
Factions Now In Dispute.
s5OO,OOO,OOO IN NEW BONDS
HIS IDEA OF WHAT 1T WILL RE-
QuIRE TO SET THINGS RIGHT.
London Chronicle Charges that the
Sugar Trust Has Friends in Mr..
CIeveIand's Cabinet.

WASHINGTON, Jan. l3.-There is no defi-
mite programme for the House this week.
There is a bare possibility that new cur
rency bill will be thrown into the arena of
debate but it is only a possibility. The
consensus of opinion seems to be that any
proposed currency legislation to be success
full must be initiated at the other end Of
the Capitol. Tomorrow is District of Col
umbia day, and on Tuesday the House
probably will take up the consideration of
the Indian appropriation bill which was re-
ported yesterday, which is the only appro-
priation bill on the calendar. If the sundry
civil appropriation bill 0he most important
of the bills not reported) is reached
before the Indian bill be dis
posed of, the committee on rules prob
ably Will give the evening time to business
given. to the consideration of the findings
of the court of claims.
The probabilities that the beginning
of the week will see the introduction of
still another currency bill in the Senate.
Senator Jones, of Arkansas, who, at the
critical stage of the tariff legislation, took
that matter in hand and harmonized the
different elements so as to bring definite
results out of a decidedly chaotic condition,
is the author of a new bill, and he comes
to the front this time as a compromser
and harmonzer. There has been objection
made to the bills prepared by Senators
Vest and Mcpherson on the ground, in the
case of the Vest bill, that it leans too much
towards silver; and in the case of the Nc
Pherson bill, that it is too exclusively in
the interest of bonds. Senator Jones rea-
Lies that silver and bonds are the two
antagonizing elements in this question, and
his efforts have been to prepare a measure
which will, perhaps, not be all that the
friends of either cause would naturally de-
nand but will, in the end, secure the sup
port of both elements. He has been in con-
sultation with many of the leaders of both
these contending elements In the Senate,
and it is understood that his bill, as out
lined to them, has received very favorable
Endorsement from the representatives
from all of the conflicting interests. 1t is
also understood that the terms of the bill
are not unfamiliar to the leaders of the
House. Furthermore, it is probable that
1t has been brought to the attention of the
proper authorities the executive branch of
the government. The bill will first provide for
the issuance of 2ls per cent. bonds to the
amount of $500 oao. coo. wi1.la are to be
paid in gold and are TO be used both for
the purpose of meeting the current
penses of the government and the redemp
tion of United States and treasury notes.
The bill will also provide for the issue of
bank notes to take the place of treas
ury notes in such way as not to produce
a. contraction of the currency. Another
provision is that the national banks shall
be allowed to issue up to their par value
and the tax on national bank circulation
is fixed at one-fourth of | per cent. In the
interest of silver. the bill provides for its
unlimited coinage under the condition that
the holder of silver bullion may take it to
the mint and have 1T coined into silver
dollars, the government retaining as selg-
niorage the difference between the coinage
value of the bullion and its market value
on the day that the bullion is taken to the
nints. The bill also provides for the with
treasury notes and national bank notes
below $40, and the substitution of silver
certificates in denominations of less than
500. which are to be payable in silver The
bill will contain provisions providing against
The The prospect s is that " the 't time Of the
Senate will be divided during. the
week betwees; I'll, the discussion Gus . of the the
ficiency bill and the continuation of the
debate on the Nicaragua bill. Senator
appropriations. is very hopeful of being
able to dispose of the income tax question
by the time the week shall !, be half gone
bill thinks there will be no difficulty in
the close of the week thus leaving the
way clear for the bankruptcy and territor-
f ober ana oner 9 b ws
Cockrell does not regard seriously the pros
pect of the prolonging of the income tax
| question There will be several speeches
which, while based on the deficiency bill.
| will be directed to the discussion of gen.
eraI finacial questions. There is no dsposi-
ton on the part of the appropriation COM
mttee to curtail these speeches but there
| has come to be some talk of night ses-
| sions in case they get to be too numerous
| or if the disposition to filbuster should ap-
pear to be more pronounced than now ap-
pears probable
Senator German will probably find OPP
portuaity tomorrow to make the speech
| which he intended to make yesterday.
| So far as known there are only three
| Nicaragua BILL but it is probable that
| others will yet be announced. Senator
| Turpie will speak again on the bill and
| Senators Vest and White have announced
| desire to be heard before the vote shall
| be taken Saturday win be given up to
eulogies on the character of the late Sem
ator Vance.
l xxra