The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1895-02-13
BTRYTNG DIFFERENCES.
The Parties Coming Together on
a Financial Plan.
REFERRED TO A SUBCOMMITTEE.

!
The ways aud Means COMMITTEES of the
House Refers the Question to Three Dem
ocrats and TWO Republicans, who WIN
Present Plan.
WASHINGTON, Feb. 13-The house com.
mittee on ways and means consumed yes
terday one more of the ten days within
which the treasury has an option to make
the new bonds payable in gold, and made
decided progress toward an agreement
! upon a plan TO be reported to the house.
! Altering being closeted for two hours
with Secretary Carlisle the committee
talked over the situation, delegated the
framing Of an agreement to a sub commit
tee of three Democrats and two Republ-
cans, and late in the afternoon learned
that it's subcommittee had dropped parti-
san differences and had formed common
ground.
The members of the subcommittee ap
pointed to draft plan are Messrs Wilson
CIV. Va), Turner (Ga) and McMillin |
(Tenn.), Democrats, and Reed (Me.) and
Hopkins Qlls.), Republicans.
The resolution reported by the quintette |
at the last meeting was one to authorize |
the secretary of the treasury TO issue S62,- |
100000 in per cent. bonds payable In |
E gold with the proviso that none of the |
proceeds shall be used for current expenses |
and the further provision requested by |
Secretary Carlisle repeating the law which |
requires the government TO redeem na- |
tional bank notes and requiring bRblat -
redeem their notes II tie e. fr,t .t,a os n minor.
Ino1ir, wa. .-,-4is subject wf"9 d Allnor
-, r-l,eo-.o,r SAID there was
none as he thought 1t wiser TO increase the
T. revenue. Mr. Bynum proposed his resolu.
tion as a substitute, Mr., Wheeler offered
a resolution reciting that Secretary Car,
tn Isle had admitted that the issue of gold
,t bonds would compel all future issues to
~ be made payable in gold, that bimetallism
had been declared to be the policy of the
L government that this would be an aban.
lu donment of bimetallism and therefore de
to claring that the committee considered it
inexpedient to adopt the presidents rec
concentrations.
y Mr.. Bryan offered another resolution
recommending that the secretary of the
treasury should pay all obligations of the
government in either gold or silver, which
Vi ever 1t was the most convenient to use, but
be no action was taken on it,
ne Secretary Carlisle came before the com
~, mittee shortly after 10 o'clock. He pre-
sented typewriter copy of the contract
~ which had been called for. The principal
AT features of the contract were made known
he in the presidents message. Upon one point
% the secretary particularly enjoined the
committee to maintain secrecy, and that
az was regarding the dates for making the
5e payments for the bonds He asked for Sc
m crecy he said, at the request of the finan-
or ciers who have agreed to take the bonds,
and because they feared that bankers
would corner the gold of the world against
=, them if the time it would be needed was
l. known and the methods by which it was
to be obtained. Accordingly the committee
adopted resolution pledging its members
not to reveal the terms of the document So
us far us it concerned the payments.
1y Many questions were asked the secre
r. tary, which he answered in order giving
nd the amounts of all kinds of money in the
treasury, and much other information not
am new
90 When Mr.. Reed asked why the plan
=. which he recently proposed in the house as
p, substitute for the administration bill
would not he a satisfactory measure the
D secretary proceeded to quote feature of
the act of 1874
r. There was disposition on the part Of
tb certain members to intimate in their ques-
in tions that the administration had shown
favoritism in its negotiations Of a private
:, contract, and the question was directly
IL asked whether the bonds were not to be
IL sold at a rate unnecessarily low consider
n ing the prevalent prices in the market.
Secretary Carlisle admitted that the
a bankers practically had the government at
1t their mercy, and he was obliged to accept
"a the best terms that could be made with
- them. That better terms could have been
secured he denied emphatically.