The Providence news. (Providence [R.I.]) 1891-1906, 1895-01-05
SPERRY's PLAN
Should the Carlisle Currency
Bill Fail.
Troublesome Sugar Duty Likely !
Draw Austria into the squabD.s.

WAsnINU.o an. 5.--Represestative
Spcrry OF Connections. Democratic coll
league of Mr.. Springer on the banking
and currency committee, has proposed an.
other substitute to the Carlisle currency
bill
1t strikes out all after the enecting
clause, and provides for an issue OF bonds
sufficient TO retire outstanding treasury
notes under the Sherman act.
The bonls are 10 bear 3 per cent interest,
are To be red emed in gold and are to be in
denominations from $40 To $4,000. They
are 10 run for 30 years. with the right TO
redeem them after 10 years. The secretary
OF tho treasury is empowered TO keep the
ypld reserve up to u minimum OF 500, 00O,-
boo by selling these bonds
Provision is made for the steady retire
mcnt of the greenbacks. both from tho
proceeds OF the bonds and from the sur
plus in the treasury. Mr. Sperry's sub
stitute Is understood TO have executive ap-
proval in case the Carlisle bill cannot pass.
Austria Has y Grievance.
The tariff war between the United
States and Europe had an ncute phase
yesterday. The very first official act Of
Mr. Hengelmuller, the new Austrian.
minister. was the loigment OF n protest
against that paragraph OF the sugar
schedule oil the tariff act which imposes
MI additional duty Of l-i0th of per cent
OIL sugar coming TO the United States
from countries which pay an export
bounty on it.
This action was taken yesterday. and
the ground taken by the minister was
similar to that which formed the basis OF
the protest of Germany thnt an addi-
nnl Int fe a a inn gf
Austria, and Is consequently violation
OF the treaty OF commerce with that ma
tion. SO far no threat OF retaliation nc
companied the protest, but in this Mr..
Hengelmuller Is but following the ex-
ample set by the German minister, and
the next step will undoubtedly be in the
same direction, namely, the imposition OF
some restriction upon an American prod
net that is imported in quantities into
Austria
The lour great sources OF our sugar sup
ply, outside Of the small proportion con-
tributed by Louisiana, are Cuba, Ger
many, France and Austria With three
Of these countries we are already at odds
over the sugar duty, and In the case OF
France there are already indications OF the
adoption OF "a retaliatory policy in their
imposition Of restrictions upon our meat
trade and the importation Of American
wheat and -four.
Discussed by the Cabinet.
This whole subject was under discus.
sion by the cabinet yesterday, and as far
as can be gathered the outcome was that
ff congress fails 60 come to the relief OF
the executive by the removal of the duty
which Is supposed To cause the trouble.
then resort must be had to retaliation,
tries or close our own ports TO all Euro
pean products.
Tho position occupied by our govern
ment just at this moment is rather diff
cult. BY decision Of the president, Min
lister Taylor has threatened the Spanish
government with retaliation for It's dis
elimination against American ports, yet
e. carry out this threat had the same
been consistent, similar action with
respect TO Germany and Belgium and
other offending European countries would
have To folio e.
The pressure from our beef trade TO pre-
vent such retaliation and secure our ends
by repeal os the sugar bounties duties is
SO great that the president is reluctant TO
enter upon a tariff war until congress has
signided It's desire in the matter, and as a
result OF yesterdays discussion IL may be
that the attention of that body may be
again drawn to this subject.
Call Tor Caucus.
Representative Holman chairman of
the democratic caucus committee Of the
house, issued call late yesterday after
noon for Democratic caucus to be held
at p. m, Monday, jan T.
The call states that important measures
will bo considered. IL was issued after
N
Springer and Speaker Crisp. The princi-
pal subjact q be considered Is the currency
bill. The question of bond issue will
also bo considered.
Speaker Crisp Was the first to sign the
call Messrs. springer, Outhwaite Cul.
bcrson and McMlllin also affixed their
signatures, aud thereafter the signing be-
came z neri Charles Crisp, son OF the
speaker, eirdl ted thu call But few
memoirs ini d sign, 81 signatures more
than ~ nee -sa Y nuM0er having been
secured be- nsc urnnent.
Congress ,ionsl Doingx.
The III ,walan qucs, on was again
bruugnJ DolOre the pubic In the senate
by ia discussion OF cine resolution intro
due " NJ. l. s,igc cailinE on the secre.
tary of the navy f)r information as to why
the UnltcI Sttl,s SHIPS had been with.
urawn from Hawaiian waters. The de
bate consumed the greater portion of the
morning hour, and at its close the resolu
tiun took its place. on the calender, and
nov can bo taken up only by unanimous
consent
MIR. Morgan concluded his speech on the
Nioaaguan canal bill, after which tho bill
makng appropriations for the support of
tho military academy for the fiscal year
1905 was passed II carries an appfopria-
ton OF sfl0,O)0, n reduction OF t4I, 500 as
passso 81 the house.
.,.sn..lt.srs.
LoNppN, Jan. 5-Lndy Florence Dixie