Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1895-02-05
NOW COMES REED.
Maine Statesman and Finan.
cier Has a Scheme.
A ELL WITH ONLY TWO SECTIONS.

Provides for the Issuance Of Government 8
Per Cent. .Coin" Scrip to Tide Over the
Dimculty-And Here Comes Carlisle aud
eays the Dimculty Doesn't Exist, for
There VIII BE 9ee, 600. OC0 Surplus on
Dec. II. Is85-National Notes.
WAsHIGNToN, Feb 5-Calculations of
the supporters and opponents Of the new
administration financial bill have been up
set by the interjection Of q new factor into
the campaign. Reed Of Maine, the Re-
publican leader, has brought forward a
new plan for which he is endeavoring to
enlist the entire strength Of his party,
and which he will offer as q substitute for
she administration scheme il he thinks
his plan can command sufficient support
to make it a factor in the fight. There
are but two sections to the Reed plan in
the form in which he has submitted it to
his colleagues. The first proposes to re-
strict the law of 1879, which authorizes
tie secretary of the treasury to issue bonds
to redeem the greenbacks, to per cent.
b ,nds.
Government 3 Per Cent. Scrip.
The second section authorize; thc scc-c-
iiry of the t,elsury. when there is n de-
Fl lit, to issue certificates of indebtedness
to pay current expenses, the certificates TO
b, in sums of SO, $50 and ii o, AMI any
nu!tiples thereof, tcaring interest at
Per cent. and payable in coin" The bill,
us Reed explained to the Republicans
whose support he sought, is but II lem
porary expcdient to tide over the present
distress The substitution of coin for
the gold provisions of the administration
plan is expected to win for it the tolera.
tion-if not the supported the free silver
men, who bitterly oppose all propositions
to discriminate by stipulation in any bill
in favor of gold. Its comparative sim
plicity, it is expected, will commend the
bill to the house in preference To more
complex plans.
Reed at Work for Ills Idea.
Reed devoted himself assiduously
throughout the day to cloak room consul
tations with the Republicans. He first
endeavored to elicit the opinions Of the
gold men and then talked to the silver
men. The measure of his success is diff
cult to estimate. The plan is to offer
the bill as a substitute for the admins
tration bill. and by polling the solid Re-
publican vote while the Democrats are
divided on the administration bill make
it the most formidable proposition in the
field, and perhaps induce the Democratic
opponents of the administration bill to
rally to its support Chairman Springer
and his colleagues have counted on most
of the Republican votes for the admins
tration bill and have prophesied that it
would poll about the same support that
was given to the repeal of the purchasing
clause of the Sherman act.
Silver Senators NOticeably Active.
Interest in the financial question about
the senate conferred in the activity of the
silver senators, ana the frequent consulta-
tions held by them. This, taken in con-
nectiCn with the call issued by Voorhees,,
for Il meeting of the finance committee
today, led to the general supposition that
an attempt would be made by the silver
advocates on the committee to secure the
reporting of free silver bill. Inquiry
among the members of the committee
failed to develop absolute assurance that
the effort would be made, but enough
was said in many quarters to indicate
that the general supposition was not
without good foundation and to justify
the statement that the silver men arc very
hopeful of bringing a free coinage bill out
of the committee, if not at days meeting
at the next one to be held.