The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1895-02-05
GENERAL WASHINGTON NEWS.
The Financial Situation and
Prospective Action.
The Commerce Committee to Visit
This City in March.
House-Psrsonal Mention
and Gossip.

message Oh the preDlQent winch was
sent 10 congress yesterday has not in
the slightest cleared che financial at
mosphere. The gist OF the message was
as follows. The issue OF per cent 80
year gold bonds to maintain the gold
reserve and cancel the legal tender and
treasury notes, which amount to about
$500, 100000. The payment of sill i'm
port duties. The retirement OF all ma
tionRl bank notes under $40 and Inc
substitution of silver certificates but
to accomplish this, new certificates are
not to be Issued, but certificates above
$40 are to be converted into notes under
that amount. Rumors of the coming
message had been afloat for some days,
but its friendlinesa to gold was not sxa
pected to be made 10 manifest. Within
she Last few days about $1l, 200, 900 in
gold have been taken from the treasury,
and at tbs present rate there will have
been nothing left within three weeks.
Opposition to the message WAS coon de-
veloped. 1t is not time 20 blame any
party or any person. The conditition
stares US in the face. and now is the
time to act. The eastern business men
coincide with Mr.. Cleveland and are
urging the issue of gold bonds. Never
thseas, it lie perfectly apparent here that
silver must be restored.
Everyone lie beginning to see that the
business OF the world cannot be done
upon gold basis simply. Mr.. Mnnder-
son (Nsb.) presented resolution in the
senate today which, mong other things.
provides for the coinage of silver and
- -
of the minis. The resolution, coming
as it did from Repu blican senator, at
tracted the greatest attention. Mr..
Henderson asked the immediate con-
sideration of the msasure. Mr.. Teller
(Colo.) followed with some very sar.
castle remarks, and accused Mr.. Man
derson of taking up the cry of panic"
etc. 1t is generally understood here
that nothing in the way OF financial
legislation will be done.
II congress does not act then 4 per
cent bonds can be issued for the purpose
of maintaining the parity. These bonds
would be welcomed by the bankers.
The issuance of per cent 30-year bonds
would establish the national banking
system on a basia which must continue
for 30 years in the absence OF legislation
which should abolish or curtail it. II
ia feared that much monetary disturb
snce will occur in the near future il
something is NOT done to tide over the
present difficulty.
1t is believed here that instead of
calling an extra session the president
will, in the event congress- does not act
during this present session, issue bonds
as ABOVE. The president and Secretary
Carlisle have had frequent interviews on
the money question, and thsy are
deemed amply able to deal with it. The
silver mon will be interested. no doubt
10 know that August Belmont. the agent
of the Rothschilds, has spent some time
in this city recently, and has had con-
eultstion with the president. In view
OF the late message, think that no ex-
ira session will be called. The currency
situation still monopolizss attention.
Meantime the DAYS are passing by and
the 4th of March is fast approaching.
The silver men are preparing for hard
struggle. The Bimetallic league ia COM
ing again to the rescue. The biggest
meeting in the history of the orgsniza-
ton will take place in this city ON the
22d of February.
THE NICARAGUA CANAL.
The Nicaragua canal bill passed the
senate by comfortable majority, but it
is not believed that it will pass the
house. 1t may be that the bill will be
pressed In the house next congress, but
it is almost certain that no affirmative
action will be taken by that body during
this session. Senator White delivered
great speech in support Of the measure
on the 24th inst.
THE COMMERCE COMMITTEE.
;kraa
tainly visit Los Angeles after the March
adjournment. Ii is hoped that the
people will be in readiness to receive
the committee, and that every thing will
be done to place this important matter
fully before that body. Several changes
will be made in the committee after
this congress- and it is possible that the
changes will be favorable for San Pc
dro's interests. THE HERALp's work
in the matter lie being commended very
highly by all Californians here.
Much has b5eu said about the insc-
tion OF Senator White in this haroor
matter. desire to correct any misun-
derstandings which may have occurred
regarding him. No one ia working as
hard as no is for San Pedro, and being
on ths ground, he is better sble TO judge
of the character of fight to maze than
those at distance. He ia in the fight
to win, and it will not be because OF lack
of interest or work on his part If defeat
comes to the advocates OF San Pedro.
NOTES AND PERSONAL MENTION.
Lieutenant Oliver OF the Naval re-
serves departed for California few daye
since. Mr.. Oliver is fully alive to the
wants of the reserve in California, and
did some good work fog that orsaniza-
tion while here. Il
Miss Sybil Ssnderson will be heard
next month in Othello, which will be pre-
scented by the company from the New
York Metropolitan Opera house. The
company presents new faces. and the
chorus, which numbers 100, contains
quite a proportion of young American
Hingers.
The great italian tenor. Tonnagno,
and the French baritone, Victor Msurel, |
will be heard for the first time in this
city az members of the above company. |
The situation regarding the United
States attorneyship for the northern dis
trics OF California is as badly mixed az
ever. 1t lie tosa-up as to who will be
appointed.
Nothing further has been done regard
ing the new circuit judgeship.
Mr. Pritchard of North Carolina res |