Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-02-08
Congress Will Probably Not Adopt
the Presidents Suggestion.
REEDS BILL COULD HAVE Pissed
Democrats Voted Against It for
Party Reasons.
CONGRESSIONAL COMMENTS

orally regarded in Congress as theatrical
performance. 1t is not believed that the
message was addressed to Congress with
any idea that it would lead to the autnor-
ization of gold bonds to take the place OF
those which the executive has been able
to negotiate, but that it is intended to I'M
press the public with the idea that If there
is any criticism ON account OF the high
rate of interest paid on the bonds issued
Congress shall be held responsible for 1t.
The assumption that this is the purpose
of Mr.. Cleveland in sending the message
has excited considerable bad feeling and
spirit of defiance in Congress 1t is not
regarded as at all probable that Congress
will take advantage of the ten days option
to change the bonds into gold bonds, so as
to reduce the interest from 3 and Sd to
Per cent.
The statement implied in his message
that the bonds were issued by private ne
gotiation has caused some surprise and is
regarded as Indicating that the bankers
have the upper hand in the negotiation and
compelled Cleveland to yield. He took the
position at first that the bonds should not
be issued in this way, but that bids should
be advertised for, and 1t is said that in the
controversy over this question the first ne
SotiationS were held up. His sending
message to Congress was probably inspired
largely by a desire to avoid criticism on
this point, as he clearly states that the men
who have it in their hands to give or with
hold the gold sought are not to be dictated
to by the government.
1t is said by republicans that had the ad-
ministration not been afraid of the repub-
licans getting too much credit out of the
matter Mr. Reeds proposition might have
been got through Congress Some of the
democrats who voted against 1t acknowl-
edged privately to republicans that they
favored the proposition. but that for party
reasons they would have to vote against 1t,
as the administration realized that 1t would
Eever do for the solution of the problem to
come from that quarter. The reason re-
publicans advanced a particular proposition
" hich was presented by Mr.. Reed was that
nothing more complicated in its character
could by any possibility be got through.
1t is well known to every man i'll Con-
gress that no legislation can be had which
the silver men of the Senate determinedly
oppose. 1t was therefore essential if ac-
ton were sought to fix upon some measure
which they would be willing to perrait TO
pass. The republicans conferred among
themselves until they had reached a propo-
stion which Mr.. Teller and others would
agree to. This was the Reed substitute.
The question presented to the House,
therefore, was whether they should take
q practical view Of the situation and ac-
cept something which might be passed
through the Senate or whether they should
try to pass a bill which was more nearly
what they wanted, but which could not
even get consideration in the Senate. In
tute the administration democrats sealed
the fate Of their proposed financial legiSla-
ton. Even had they succeeded in passing
the Springer bill through the House it
would have been with the foreknowledge
that it never could pass the Senate. and
that, therefore, the action of the House
would have been little more than a spec
tacular performance.
Some Are Hopeful.
The ever-hopeful, r-to-be-discouraged
gentlemen, who have been insisting ever
since the session began that legislation de-
sired by the administration on this subject
could be had, are starting out today
buoyantly as ever, with the declaration
that, in consequence of Mr.. Cleveland's
message, Congress will authorize the SUBJ
stitution of gold bonds for those being
negotiated. 1t seems absurd for any one
to expect such thing for an instant. A
majority of the democrats and a very con-
siderable number of the republicans. If
not majority, are opposed to the use Of
the word gold" for various reasons. The
republican objection is that as it stands
now COIN means gold and that the
issue of new set Of bonds with the word
gold substituted for coin would make
disc Scriminatfon which might dlScredlt the
coin bonds.
The message is hardly likely to change
the opinion of any considerable number OF
men in Congress.
at legislation is to be had is transferred
from the banking and currency committee
to the committee on ways and means.
There is nothing in the message about cur
rency, and under the rules Of the House
the ways and means committee has au-
thoiity over the simple question of bonds.
Mr.. Wilson of West Virginia can now have
a chance to try his hand on this difficult
problem of influencing Congress to DO what
it does not want to do.
S.uotnvs nsscuSs the Messnrc
The Presidents message was somewhat
unexpected by the Senate, but it had not
teen on the Vice Presidents desk minutes
before the fact that it was message in
regard to bonds was circulated among
some of the Senators. Others not so for
tunate failed to appreciate what was going
on until the reading of the document was
we'll under way.
When all the Senators had become aware
of the character of the message they gave
undivided attention to the reading of the
document, and some of them made audible
comments as the reading proceeded.
Don't Care to Talk.
"I don't care to discuss it, said Sena-
tor Sherman of the finance committee, when
the reading had been concluded. He had
given careful attention throughout the
reading, but had shown no sign Of either
approval or disapproval.
He added: 'It is clear and well written
document. AS to the policy indicated, we
are ell so divided that I prefer to say moth
ing"
Senator White democrat California;, a
member of the finance committee, declined
to say more than that III the interest-sav-
ing indicated by the President could be
made without taking other loss it would
be well to save it..
Senator Teller, republican. of Colorado
declared the silver men would not be
"a fn,. GOLD
bonds. He also predicted that the gold Sc
cured by the proposed issue would go out
just as it had gone before. under the same
circumstances, and said there was no real
advantage in selling the bonds abroad.
He thought at least hundred millions
could have been disposed OF in this country
at > IL per cent.
Senator Jones of Arkansas, also a men,
Der of the finance committee, said he had
nothing to say.
UnIOads the Responsibility.
Senator Hill of New York-The President
urloads the responsibility for the present