The times. [volume] (Richmond, Va.) 1890-1903, 1895-01-11
The SENATE TAKES A HAND.
The Committee on Finance Discuss tie
financial Situation.
no CONCLUSION REACHED, HOWEVER.
Ths Silver Senators Mako Demands "hien
the Administration Men CANNOT hgree
To-The Republicans.


Senate Committee on Finance discussed
the financial situation this afternoon ior
three-auarters of an hour, without conh-
ing TO any conclusion regarding tne cur
rencv question. The Democrats failed 10
suggest any tangible proposition. ana the
Republicans declined to commit theh-
selves to any policy. As one memoer ot
the committee expressed 1t, the time was
consumed in bandying questions back ana
forth between members.
Before the committee adjourned "
meet Saturday morning, each mefhper
was cautioned to say nothing about what
transpired in the room. and their ap-
peared to be a general disposition 10
maintain strict silence. Various SugBSs-
tions of a tentative character We're au-
vanced, but in no instance ula tnose
charged with responsibility put forward
a single proposition as one upon winch
The Republicans, when urged to sug-
gest some means for the solution or tne
problem. talked tariff and RETAINED from
accepting the invitation. Taken alto-
gether, the meeting was unsatlsiacloIS
and when it became apparent that no
headway could be made, 1t was agreed
that nothing further should be done, un-
I'll Saturday, when Mr.. Vest VIII submit
a bill which he hopes Will include tne
ideas favored by his side of the ChaniDer:
1t is PROBABLE that other members may
also come prepared in like manner.
DEMANDS OF THE SILVER SENATORS.
Enough was gathered from the discus
sion to learn that the silver Iseta sena'So1 for
an issue of bonds that did not carry
with Il an arrangement that caIeu ~. ~
silver in the most substantial nahntl,
All Of these senators agreed tnaI LA VA
l. In. kas
b. satisfactory was the unlimited coin,
age of silver Free coinage they might
waive, under proper conditions. ,.o.
Mr. Vest at the same ttne d.if deciaf ~ ~
his colleagues that he would vote LOT
an issue OF bonds sufficient TO retund tne
greenbacks and the Treasury notes vs.
sued under the sherman act prOxiughh prn'iyh
there was coupled with II thorough
recognition of silver worded ~ iashlon
that would remove the dlscr,etlo.aIS
power of the Secretary OF the iTedSuIy
II is not unlikely that either MT. vest
ar Some other Democrat on the commit
tee will prepare a bill somewhat on tne
lines of the suggestions or mar ~ y
Barker OF Philadelphia, duringt the
struggle for the repeal Ol oct tte puiO""'
Under that proposition Donds were 10
be issued at a low rate Of interest ana ana
the Government was TO coin the sliNIi w,
retaining the difference between tne w,
\
bullion at the market price in standard
silver dollars.
PLAN THAT ELIMINATES BONDS
rha ultra silver men on the commit tee
| and in the Senate antagonze this, now
ever and go to the extent OF opposlhs
bonds under any and all condluons. al'
| I'm the category may be lncluueu l nciss
tors Voorhees, and HafHs. ~ - a,tin a,,rv j
stood that these senator's. representlns
| the silver element in both parties, favor
| a plan that eliminates bonds ehtlIely
and Mr. Voorhees, is more nclllieu ~
| favor IT because he IS uhaiterapIy ny, op ~
| national banks. The IDEA, therefore,
| that meets his approval, ana that oI
| his silver colleagues, more thah any 'aihs III
| else, is this proposed measure; IL, ne ,ns
| funding OF the greenbacks ana treasury
| notes. aggregating about 5WOUO,Oc, py
| the issuing OF gold certificates ana the
| destruction OF all greenbacks and treas,
| ury notes as fast as they are substituted
| by these coin certificates wheh the a soi''
| surplus in the treasury exceeds SlO0,wV,-
| 900 these certificates to be redeemed II,
| either gold or silver, at the option OF
| the Secretary of the Treasury; wheh tht
| surplus falls below this marx the Ia"
| 10 require these coin certincates 10 d.
/ redeemed In silver; the unlimited com,
| age of silver; the Government TO stand
| between the people and the mine owners
| by Withholding the seigniorage ana pay
4
| dollars at the market price OF the siiVe,
| bullion: no national bank note to be
| ISSUED in denominations larger Aan
| $50.
| Such a scheme as this would put more
| silver into circulation. the silver mer
| say, and create a steady market FOL
| IL. while the substitution Of coin cert''
| ficates for the greenbacks and treasury
| notes would, as they look at the SITUATION
| prevent the constant drain of gold IRON
| the treasury. Even this proposition,
| however, the silver Republicans will no
agree 10 until they know wnat the
4 President will do. When asked abotS
1 il by one OF the committee, the leade
! Of the silver forces declares that no
| until they had been assured that IN
| President would sign such a bill woulC
| they even consider II.
| WHAT IRE REPUBLICANS THINK.
II is understood that SIR. Aldrich. o.
| some other Republican, VIII submit Il
| the committee at the meeting SATURDAY
bill rest@ring the reciprocity arranse
| menfs in force under the Mckinley ac
! as a substitute for any financial measure
that may be brought forth. There arr
| Indications that the republican iSaaeI'
| are not anxious for an extra session Of
| Congress, and would prefer, II they, car
| do so consistently 10 aid some scheme
| that would dispose OF the pending trouble
| during the summer months and leave III
| final settlement for the new Congress
| that will convene in regular session mex
| December. If their aid is given to an!
| proposition II must be along Republican
| lines, and they reinforce their argument
| I'm this matter by the statement thd
| Democrats might as well accept it nov
! as 10 be compelled 10 do so either II
extra session or during the next Con
| gress.
The meeting Saturday viii. In all prob
ability. be profitless. for members Of tn
| committee OF both parties agree In say
| ing that nothing was accomplished L
| indicate any change in the sentiment 0
| the members as to what should be don
/ tn ha haf 4, In