The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1895-01-09
A New Financial Scheme.
Something to Supersede The
Carlisle Bill.

WASHINGTON. January To
night the indications for the passage Of
'he Carlisle financial bill through the
House are decidedly unfavorabe. The
Democratic caucus hello this afternoon
did not clear the atmosphere of the
cloud of doubt and uncertainty that has
novered over the bill ever since it was
reported to the House by Chairman
] Springer. 1t is true that the resolu-
ton to support the bill introduced by
Speaker Crisp was carried by very
narrow margin, which was probably
due largely to his personal popularity
among the members. The vote was 81
for 50, against, with IS absentees
The general impression here tonight
is that the bill cannot pass the House.
Ga the Senate side Of the Capitol
there is disposition to frame 6nan-
cial measure to meet the changed con-
dition of affairs Underlying the
whole question are the suggestions
agreed upon by the Senate steering
committee 10 the first session of the
present Congress, when the repeal of
the Sherman Silver Act was under con-
sideration. That committee was COM
posed of Mr.. Justice White, of
Louisiana. then Senator: Senator's
Gray Of Delaware, Black 0ura Of ken-
tucky. Ransom of North Carolina,
Cockrcll Of Missouri, Villas Of Wis
consiu, Walthall of Mississippi, and
German Of Maryland.
The tendency nov is to take some
practical steps to relieve the treasury,
for the Secretary shows By the records
that the expenditures are $4,000, GOO
il excess Of tue receipts up to the pre-
sent tire. The question is being
quietly considered by the leading Sena-
tors c: both sides Of tie cham Der, aad
if auy result is obtained it vii pro-
bably be Oh the lines Of compromise
bill. It is propose to issue $500, 900
600 os q CT 3 per cent bonds OF the
denomination of $50 and make it a
popular loan, to run for thirty years or
shorter period, as the discretion Of
the Secretary of the Treasury Oae
hundred million dollars derived from
the sale Of bonds is to be expended to
relieve the present wants Of the
treasury. the balance to be issued from
time to time to take up the greenbacks
and retire them as rapidly as toe
national bank circulation increases.
To permit the pational banks to issue
notes up to the par value Of their
bonds, to reduce the tax on national
and State banks from ! to ! per cent.
to withdraw from circulation al! United
States treasury notes and national bank
notes under $50 and issue silver certi-
fcates from 81 up to $40, thus giving
fair recognition to the advocates Of
silver. To authorize the holders of
silver bullion to taSe their silver to the
minss of the United States for actual
coinage, the Government to charge as
seiguiorage to the difference between
the commercial and the coinage value
of the silver, not to exceed $50, ,000,-
! 900 in any one year The Govern
ment to withdraw the greenbacks and
the treasury notes from circulation as
fast as there is an increase in the
national banking currency and silver
dollars. To prohibit the national
banks from Withdrawing their circula-
tion without the consent of the Secre-
try of the Treasury, in order to pre-
veut the contraction Of the currency.
The bill also proposes to require duties
ou all imports from gold standard couo-
tries to be raid one half in gold.
The more this subject is discussed
the more reasonable it appears. Secre-
tary Carlisle and the friends of the Ad-
ministration are said to be in favor of
something Of this nature. It is said
that some of the Republican leaders are
willing to lend their aid to pass such
measure which is constructed with
view to meeting the demands of all the
contendipg elements from the gold bugs
down to and including the free silver
and State bank tax advocates The
suggestions herein contained will be
formally presented in the Senate 10
few days and it is claimed that they will
commend themselves to majority Of
the two houses Of fCongress.-Ners and
Courier.
Calling whiskey shop dispensary