The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1895-01-14
JONES AND HIS new Scheme
He Will Introduce Currency Bill
Calculated to Please Everybody.
SILVER MEN ARE RECOGNIZED
The Proposed Measure Will Treat Gold
Bugs and Silver Barons Alike.
ills Looked Upon with
General Favor.
Ny the United Press.


cial scheme is to be presented tomor-
row. The senate and not the house will
be made the battle ground.
Senators Vest and Mcpherson having
introduced bills embodying their indi-
vidual views as to what should be done
to relieve the condition of the treasury,
and the senate finance committee, as
it is understood, having torn those bills
to pieces, in a figurative sense, at its
meeting yesterday, it is evident that
neither of those propositions can re-
ceive any considerable support. A new
bill will, therefore, be introduced to-
morrow by Senator Jones. There is
much about this proposed measure of
the Arkansas senator that Is signifi-
cant. 1t was largely through his work
that the antagonistic elements of the
Democratic party were brought to-
gether during the tariff fight, and he
hoped to bring about similar harmony
on the currency question. His pro-
posed bill, it is said, gives what the
gold standard men insist shall be given
them, and gives the silver men, in a de-
gree, at least, what they have been ask
ing.
1t Is claimed that Mr.. Jones has Sc
cured some assurance that the measure
he will propose will have the sanction
Of the treasury department and of the
president himself. Its principal feat
ures are these:
The secretary of the treasury will
be authorized to issue $780, 900 Of
bonds interest and principal payable
in gold at not exceeding 2la or pei
cent, the bonds to return thirty
years, but redeemable at the option OF
the government after twenty years.
The proceeds of these bonds are to be
used for the current expenses of the
treasury, and the redemption of the
green backs and the treasury notes,
issued under the Sherman act.
National banks will be permitted to
issue notes to the par value of the
bonds they have deposited to secure
their circulation and an inducement
will be offered the banks to increase
their circulation by reducing the tax
on circulation from l per cent. to u per
cent.
Silver Barons Protected.
The unlimited coinage Of silver is pro-
practically as follows:
The secretary of the treasury Is au-
thorized and directed to receive at any
mint from amy citizen Of the United
States silver bullion. the product Of the
mines of the United States, of stand
ard weight, ETC., and coin the same into
standard SILVER dollars, and the seign.
orage for the said coinage shall be the
difference between the coinage value
| and the bullion value in London on the
| day of deposit and the secretary of the
treasury shall deliver to the owner of
said bullion 1.-THE silver dollars so coined,
and the amount received from the
seignorage of said courage shall be cov-
| cred into the treasury
Mr.. Jones, accompanied by Mr.. Cam
den, of West Virginia, gold standard
man, called at the treasury yesterday
and had long conference with the
secretary, and thence went to the presi.
dent.
They were given an immediate audi
ence and for a long time the presiden,
and the two senators, representing OPP
posing elements in ths party, discussed
the situation from various points OF
view.
Mr.. Cleveland was freely told that
no measure could be passed that did
not in a very material way recognize
SILVER. The president it Is said, de-
clined to give his approval in advance
to any bill until he could be assured
that such bill would pass.
1t is broadly stated, however, that al
this conference the bill which Mr.
Jones will introduce tomorrow was dis
cussed in detail and that the two sena'
tors left the white house thoroughly
familiar with THE ideas of the president
and able Ito assure the members of the
senate that such a measure if enacted
by the congress would be approved by
the president.
Republicans Arc Reticcnt.
An effort was made yesterday after
| noon to draw out several of the more
prominent Republican senators as t
their opinion Of the merits Of this pro
posed measure. Some agreed that 1t!
provisions were in the main commenda
tory, but none were pronounced In 1t,
favor. No promise of Republican as
sistance was secured.
A quiet canvass was made in tn,
house yesterday as to the chances o.
this proposed bill passing and Dem
ocrats there are said ITO believe 1t t
be one Of the measures that can ge
through. The opinion still prevails il
the senate. and among silver men par
ticularly, that six weeks Is too shor
a time in which to consider and ac
upon financial legislation. An effor
will be made ito overcome all lthes,
obstacles at the meeting OF the flnanc,
committee Tuesday The passing o.
failure of this new bill appears to de
pend upon the ATTITUDE of the silve