Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-12-26
THE PROPOSED BOND BILL
May Be an Important Change Before 1t is
offered
Mr.. Hopkins Sugsests nm Amendment
Probable Caucus of Disaf-
fected Republicans.

There may be an important change made
by the ways and means. committee in its
be nd bill before the scheme is brought be-
fore the House tomorrow. Considerable dis
satisfaction has arisen among the republi-
cans since the text of the bill was made
public, the dissenters asserting that it could
be used by hostile administration for the
permanent retirement Of the greenbacks.
In yesterdays committee meeting a similar
charge was made by the democrats. that the
republicans proposed TO secure what they
had always opposed and what President
Cleveland advocated-retirement of the
greenbacks.
A Proposed Amendment,
Accordingly, there will be committee
meeting tomorrow morning 10 considea. an
amendment prepared by Mr.. Hopkins of
Illinois, which follows:
PROVIDED. that nothing herein contained
shall be construed to repeal or modify exist
ing law which authorizes and directs the
reissue OF said legal tender notes."
Mr.. Hopkins has made a canvass of the
committee and is confident that the amend
ment will be adopted.
Mr.. Hopkins Explanation.
Mr.. Hopkins. ii. explanation of his amend
ment. says that under the act of 1873, au-
thorizing the issuance of bonds to retire
greenbacks, and on the authority of which
the President has made his recent bond is
sues. there were retired and cancelled some
forty-four millions of greenbacks. Then in
1877, an amendment to the law was proposed
by Congressman Fort of Illinois, which di
rected the Secretary of the Treasury to re-
issue the greenbacks. so that they would he
kept in circulation, and this amendment be-
came law.
Apprehension has arisen among the re-
publican dissenters to the bond bill during
the past twenty-fuur hours tha: the pro-
posed bond bill would effectually n;Illify the
system by which Sfsenbacks may he Kept in
circulate particularly If hostile admin
istration chose to give 1t that effect. West
ern republicans who oppose bond issues on
principle have been wasing spirited can
vass against the bond bill, hat the Hopkins
amendment will obFtate their principal Oh
jections. Several amendments to both the
tariff and bond bills had been drawn by re-
publicans whose constituents had special
interests at stake or who had individual
financial plans which they deemed improve
mentS upon the revenue bills, but the rule
under which the hills will be debated and
voted upon cuts off the chance for amend
ments on the foor and destroys the plans of
these gentlemen.
4 Caucus Tonight.
The republicans who oppose the ways and
means bond bill nave arranged for a CAUCUS
tonight for the purpose OF organizing the
W tHe measure.
Messrs. Hartman of Montana andShasroth
of Colorado have been sInosr,active in pre-
pairing for the caucus. They expect an at
tendance Of thirty or forty members of the
House. all from, the western, middle and
southern states, as no eastern republicans
have been found who will refuse 20 vote for
tie bill. 1t is not certain that the ways and
means committee will adopt Mr.. Hopkins
amendment, and the extent of the rebel
lion against the bond bill by members from
central states largely hinges on the fate of
his proposition. =
bers Of the ways and means committee
shows that while there is practical una
rimity among them In desiring the ac-
complShment of the object for which Mr.
Hopkins amendment is aimed there is
some doubt concerning the necessity for
the amendment.
Will Examine the Laws
Mr.. Russell tConn.) on a first reading of
the amerdmen questions whether there Is
any legal necessity for it. Mr. Tawney
NIinn.) holds the view that il might pos
sibly te construed that the bond bill by
Implication rcvokes the direction to the
Secretary CT the Treasury in the amend
ment to the act of 1875 to issue the green
backs after they are taken into the treas
ury. -..r
If further examination of the laws shows
that this implication could be drawn by a
secretary who desired to make it, he thinks
the bill should be amended
.IheSe gentlemen represent the views held
by the committee generally, and they say
as do the other members, that a careful
examination of the laws will be made the
question will be thoroughly discussed in
the committee tomorrow, when, If the ne
cessity for amendment in this particular is
developed, an amendment will be made