The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1895-01-11
See divers leaders in umbrellas,
1RE FINANCIAL SITUATION
Discussion by the Senate's Com
mittee on Finance.
NO CONCLUSION REACHED
Democrats Fail to Suggest and Re-
Sublicans Decline to Commit
Themselves. Silver Sena-
tors viii Not Vote for
Bond Issue.
By Southern Associated press.


NAsHINGToN, January l0.-The
cussed the tinarcial situation this
afternoon for three. quarters of an
hour without coming to any conclu-
sion regarding the currency ques-
ton. The Democrats failed to sug
gest any tangible proposition and
tue Republicans declined to commit
themselves to any policy.
Az one member of the committee
expressed it, the time was consumed
IN bandylng questions back and
aorth between members. Before
the committee adjourned to meet
Saturday at 10 o'clock each member
was cautioned to say nothing about
what transpired in the room, and
there appeared to be general dis.
position to maintain strict silence.
Various suggestions of tentative
character were advanced, but in 10
instance did those charged with re-
sponslbilIty put forward II single
proposition as one upon which they
would likely agree. The Republi
cans when urged to suggest some
means for the solution of the prob
lem. talked tariff and refraincd
from accepting the invitation.
Taken altogether the meeting was
without results, and when it became
apparent that no headwuy could be
made it WAS agreed that nothing
further should be done until Sat
urday, when Mr.. Vest will submit a
bill which he hopes Will include
the idens favored by his side OF the
chamber. 1t is probable that other
members may also come prepared
su like manner.
Enough was gathered from the
discussion to learn that silver Sena.
tors, under no circumstances, would
vote for an issue of bonds that did
not carry with it an arrangcment
that cared for silver in the most
substantial manner. All of these
Senators agreed that that the ONLY
thinS III that direction that would
Oe satisfactory was the unlimited
coinage of silver. Its FREQ coinage
shey might waive, under proper con-
dItIons.
MIR. Vest at the same time declares
his friendship for silver and stated
20 his colleagues that he would vote
Tor an issue of bonds sufficient 10 re
{und the greenbncks and the trea-
sury notes issued under the Sher-
man act, provided there wns coupled
with 1t thorough recognition OF
oliver Worded IN fashion that would
femove the discretionary power OF
the Secretary of the Treasury. 1t
Is not unlikely that either Mr.. Vest
or some other Domicrat on
sho committee will prepare O bill
tomewhat on the lines OF Wharton
Darker, OF Philadelphia, during the
struggle for the repeal of the pur
chasing clause of the Sherman net.
onuer that proposition bonds were
10 lie issued ut low rate OF interest
ana Sue Government was to coin the
silver, retaining the difference be-
eween the bullion and the mint
value. paying for the bullion at the
market price III standard silver dol.
iars.
The ultra silver men on the com.
mittee aud i'll the Senate antupoujZe
'hls, however, and so to tho extent
of opposing bonds under any cir.
cnmstancos and III the category NAV
he included Senators Voorhees, and
Harris.
1t Ia understood that these Sena.
tors, representing the silver element
IN both parties. favor II plan that
eliminates bonds entirely, and Mr..
Voorhees, ID tho moro inclined to
Savor 1t, becauso ho is unnlternbly
opposed to bonds for the further
nso OF the national banks. The
idea, therefore, that meets with
his approval and that OF his
silver colleagues more than any
ahlng else, is this proposed measure;
the funding Of the greenbncks and
treasury notes, nggregating $500.
eO0, 600. by the issning of gold Ger.
'illcates and the destruction of all
Greenbacks aud Treasury not % as
Ihst as they arc substituted by
these com certificates, when the
gold surplus III the Treasury ex-
reeds SlCo, GOO, 600, these certificates
10 DO redeemed III either gold or
silver, at the option of the Sec
Fetary OF the Treasury; when tho
surplus falls below this mark the law
10 require these coin certificates To
be redeemed in silver; the unlimited
eolna8e of silver, tho Government
DO stand between tho people and the
mihe owners by withholding the
teignioraGe and paying for the bnl.
non In standard silver dollars nt tho
market pr!co of silver bullion. no
natlonal bank note to be issned in
denominations larger than $50.
Such scheme as this would nrt
9nore eilver in circulation, tho silyer