Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-02-05
THE ADMINISTRATION BILL
Not Much Interest Taken When Its Dis
cussion Commenced in the House.
Why There Is a Delay in the Bond
Issue-Ncw York Bankers Here
In Conference.


financial bill began in the House today al
most without interest. Very little disposi-
ton to discuss the question was evinced,
and when Mr.. Springer began a tedious de-
fense of the bill very little interest was
shown by other members of the house. 1t
appears to be accepted as foregone con-
cluson that the present attempt al legisld-
ton holds out very little more promise than
former efforts which have failed.
1t is evident that the administration is
not sanguine of success crowning the ef-
forts of Mr.. Springer. 1t is only con-
cession to the propriety of the situation
that is causing a delay of the proposed
bond issue. 1t is the desire of both the
President and the Secretary of the Treas
try to wait until a final vote is taken IN
the House before availins themselves of
the authority they now have, and, more
over, il would be difficult TO place bonds of
a character at present authorized by law if
at the time it were anticipated that bonds
of a different character and more desirable
were about to be authorized.
Quick Action Needed.
1t is therefore deemed important that
the question of further legislation should
be settled speedily, and this consideration
is what induced the committee on rules to
provide for an early vote in the House. 1t
is we'll understood that if anything at all
will be a simple provision for a bond issue
such Mr.. Reed will propose, and that.
even, is extremely doubtful, in view of Mr..
Carlisle's declaration that the treasury is
not suffering from want of revenue, but
will have a surplus at the end of the year.
The only theory upon which the anti-ad-
ministration people of both parties in Con-
greSS will agree 20 authorize bond issue
is that the government is in need of money
to meet the actual current expenses.
Whichever way the matter turns the
suit Will be bond iSSue-either by legisla-
ton or by executive action.
New Work bankers Here.
Pierpont Morgan. Spyer. Bacon and other
bankers from New York are here consult
ing on the question of a bend issue. They
have Cndeavored to conceal the fact of
their presence by declining to register at
the hotels where they are stopping, and
their movements have been conducted with
great efforts at secrecy
Secretary Carlisle did not go to the treas
ury this morning, and it is understood that
he was in conference at his own house with
Pierpont Morgan and others up to the hour
OF the cabinet meeting. The cabinet as
scmbled at the White House at IL 30, and a
long discussion of the situation occupied
them. The report of Assistant Secretary
Curtis on his interview with the bankers
in New York, and the propositions made
by the visiting bankers here. formed the
Immediate subject of discussion. The ne
gotiations still appear to hang fire on ac-
count of the objections of the foreign bank
ers to the use of the word coin instead of
gold. but there was difference of opin-
ion in the cabinet on the proposition that
IL would be impossible to get the authority
of Congress to insert the word gold in the
bonds
Unless emergency demands 1T there will
be no issue of bonds until after the vote
in the House has been taken on Thursday.
Senate Finance Committee.
The Senate finance committee today put
the stamp of their disapproval upon the
proposition to issue per cent bonds. and
emphasized the proposition that there can he
no legislation such as the administration
desires during the present session. A di-
rect vote was had on the bond question
which showed that the committee stood
six to five against bonds for the replenish-
ment of the gold reserve.
There was long and heated discussion,
in which the silver men contended that
they would never consent to bond issue
except for the purpose of meeting IN ac-
knowledged deficiency in the revenue, and
that since Secretary Carlisle had informed
them that no such deficiency existed there
was no need for bond issue which they
would recognize. On the contrary, they as
sumed that there could be no legislation at
this session. and declared that they would
not temporize or accept any makeslifts,
but, having a majority for free silver, they
would put through the Senate a free silver
bill nothing.
For some reason not disclosed, they did
rot desire to report a free silver bill at
this meeting, but it was significantly sug
gested by the silver men that III week
from now they would insist on positive
ac ction. They do not anticipate legislation
their determination to stand by the free
coinage of silver as an issue.