The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-01-18
and Is Supposed to Have the Adj
Manifestations support.
ANOTHER PLAN BY MIR. PUGH
PENSION APPROPRIATION BILL
PASSED BY THE SENATE.
Amendment Fixing the Minimum Rate
at SO AdOpted-Will Cause an In
crense of 81 100000 a Year.
Special to the indianapolis Journal.

Special to the Indianapolis Journal.
WASHINGTON. Jan. 1.-THE introduction
of financial bill by Senator Sherman to-
day excited the indignation of Democrats
of both houses of Congress. For several
days past it has been whispered that the
President was making a deal with Senator
Sherman to lead the Republicans to sup
port such a financial scheme as the ad-
ministration approvel. Meantime the Demo-
cratic Senators framed a bill and through
Senator Jones. of the financial committee.
asked the Endorsement of the President
Senator Jones made three visits to the Pres
ident but failed to procure his endorsements
of the. proposed bill. The prospect OF finan-
cial legislation in the House had gone to
pieces. To-day Senator Sherman introduced
a bill to provide for temporary financial
relief. This action of the Ohio Senator as
founded the Democrats. They have reached
the conclusion that the President has finally
appealed to the Republicans to afford tho
necessary legislative relief. This has pro-
voked Democratic ire all along the line in
both houses and it can now be safely pre-
dicted that financial legislation will be
passed.
Senator Sherman's bill sets forth that its
purpose is to enable the Secretary of the
Treasury to maintain the redemption of
United States notes according to the provis-
ions of the resumption act of Jan. A. 1875,
also to enable him to pay current defcien-
cies of the revenue. 1t authorizes the secre-
tary to issue and sell at his discretion, at
not less than par in coin either of the de-
scription of bonds authorized in the re-
sumption act, or coupon or registered bonds
to amount sufficient for the object as
stated, not exceeding the current deficiency
of revenue, bearing not to exceed 3 per
IL
the United States in coin after five years.
In lieu of any of these bonds. the Secretary
is authorized at his discretion to issue GER
tificates of Indebtedness of the United States
payable in coin after five years at the pleas
ure OF the United States, in denominations of
from s. to $780, to bear interest at ) per
cent. The certificates to have qualities,
privileges and exemptions like those de-
scribed in the resumption act for the bonds
authorized. On the deposit of United States
bonds or certificates bearing interest. ns-
tional bank associations shall be entitled
to receive circulating notes of the par value
of the bonds deposited, but not to exceed
the amount paid in as capital stock.
An Associated Press dispatch says: The
Democratic leaders in the House are still
devoting themselves to the task of getting
a bill on which they can agree and which
can secure majority in the Senate for the
reorganization of the currency system. They
have been in conference more or less for
the last two days and it is understood that
the deliberations based on the Jones
BILL Mr.. Jones has perfected the measure
but he adheres to his original determination
not to introduce it unless he can be reason
ably assured in advance of it's passage. He
and the supporters of the bill devoted them
selves to-day to ascertaining just what sup
port could be obtained.