The Indianapolis journal., 1895-12-24

II
Gratis assert that there is no necessity for
an increase in the revenues. as they claim
that the available cash in the treasury over
and above the gold reserve is amply sufi-
cient to meet any deficiencies that may oc-
cur for the next two years. when they ex-
pect the receipts from the the present tariff
law to equal or to exceed the expenditures.
Up to this point Democrats seem to agree.
AS to an authorization for coin bonds they
differ. The gold men would be willing to
vote for bonds, preferably for gold bonds,
to fortify the reserve. but they point out
that in their opinion no bond will meet the
situation. The trouble, they declare. Is the
existence of the greenbacks. which can be
used to pump gold out of the treasury, and.
provided for by the gold purchased with
bonds, the result would simply be to increase
the interest-bearing debt without removing
the active agent for weakening the reserve.
1t is not improbable that some of the Demo-
Gratis will offer as substitute compre-
hensive plan for the retirement Of the green
backs, including an authorization for an is
sue Of s5O0,0oOOOO in bonds for that purpose.
and the reduction of the tax on national
bank circulation and the increase of cur
rency to be issued on deposits of bonds
from 80 to 100 per cent. This latter, they
say, would increase the national banking
system and prevent contraction OF the
currency. The silver Democrats, of course,
are opposed to bonds to increase the gold
reserve and will resist the measure report
ed by the Republicans both on that and
tariff grounds. The silver Democrats of
the House, after discussing the situation,
have about decided to offer as an amend
ment or substitute for the bill a joint reso-
luton making it mandatory on the Secre-
tary Of the Treasury to redeem greenbacks
and treasury notes in silver when the gold
reserve falls below a certain point. Mr..
Bailey, of Texas, will probably offer the
resolution.
RESOLVED NOT TO ADJOURN.
When the ways and means committee CT
the House met this morning thirteen men,
bers were present BY way OF reply to
President C.eveland's request that Congress
should not adjourn a resolution was pre-
sented by Mr.. Payne, OF New York. 1t de-
clared that 1t was the sense of the commit
tee that it was inexpedient for the two
houses to adjourn for the holiday recess,
and that further consideration OF the mo-
ton for a holiday adjournment should be
postponed for the present. Mr.. Dingley was
authorized to make a statement to the
House. Mr.. Paynes resolution was adopted
by q unanimous vote Of the committee.
There was a general feeling among men,
bers, partly inspired by the news from
Wall street, that the worst of the business
disturbance engineered by the war furry
has passed.
Several House committees which attempt
ed to organize to-day were unable to get
quorums. The attendance on the floor was
smaller than for several days past, many
members having evidently gone home for
Christmas. These developments gave rise
to some apprehension that the House might
find it difficult to muster quorum the
day after Christmas, but the Importance
of the legislation on foot, it is believed,
viii spur members to forego their holiday
plans.
When the House opened the Speaker
nounced that by an inadvertence in the an
nouncement of committees on Saturday the
name of Mr.. Tracey (Rep), Of Missouri,
had been omitted from the committee on
naval affairs After a brief argument and
objection from Mr.. Crisp in behalf Of the
minority against the chairmen of the three
election committees referring the elections
contests, the Speaker ended the matter by
making concession and referring the con-
order.
DINGLEY'S STATEMENT.
Mr. Dingley chairman of the ways and
means committee, then took the floor. The
committee on ways and means he said, had
met this morning and had unanimously de-
cided, in view of the Presidents special
message to Congress on Friday and the cir
cumstances surrounding it, that it would
not be appropriate that the two houses
should adjourn. until proper response had
been made. In view of the urgency of the
matter, he deemed it proper to say that the
committee had already entered on the prep
aration OF a bill or bills. While he was
not prepared to say now when those bills
would be ready, he was certain that they
would not be presented to the House before
Thursday. 1t was important that members
OF the House who had gone home under
the impression that the usual holiday re-
cess would be held should be present when
the report of the ways and means COM
mittee was made. and it was proper that
turn. He would ask the House to meet to-
morrow for the purpose of agreeing on the
distribution of the. Presidents message.
1ourn over Christmas day. "On Thurs
day." he concluded, 1--WE hope that the
House will make a response to the urgent
request of the President and take some
action which will relieve the situation in
which the country finds itself" (Applause)
Then, at 1928, the House adjourned un-
Representative Beach, of Ohio, will intro
duce a bill in the House Tomorrow pro
yiding that duties imposed by the tariff
laws Of the United States shall not aDpiv
to food products and raw materials from
sucn nations as may make equivalent
reciprocal concessions in favor of merchan-
disc imported from the United States. The
President, after the passage of this act
Is directed to, through the proper diplomat
&c agents OF the government. to negotiate
commercial arrangements upon such basis
with any and all foreign governments The
provisions OF this act shall not apply to
any article upon which an export tax is
imposed.
The banking and currency COM
mittee held a meeting to-day and
formulated several requests for in
formation to the Controller of Currency
to be used in the preparation of the cur
holidays. Among the inquiries is one cali
ing on the Controller of Currency for in
formation as to the relative stability of
large and small banks. Mr. Walker. the
chairman Of the committee, expects the bin
reported to follow closely the lines of the
bill he offered in the last Congress which
provided for an extension of the national
banking system and the issue of circula-
tion against deposits of greenbacks.
Indiana Members Must Return.
Special to the Indianapolis Journal.
WASHINGTON, Dec. 2S.-Representatives
Hanly and Tracewell, who had gone home
for the holidays, have been summoned by
telegraph to return at once. Every Repub-
lican member will be expected to be in his
seat on Thursday, when the ways and
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