The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-01-08
A NEW FINANCIAL MEASURE.
IN Issue Of S50O,OOO,OOO ThiTty-YeaT
IS Contemplated.

The Bonds to Be in Small Denomina-
tions so the General Public Can Invest
in Them-Part of the Issue to Be Used
in Retiring the Greenbaols-Treasu
and National Bank Notes to Give Way
to Silver Certificates Half of All I'm
port Duties Must Be Paid in Gold.
Washington, Jan. 7.-To-night the indi-
cations for the passage OF the Carlisle
financial bill through the House are de-
cidedly unfavorablc. The democratic
caucus held this afternoon did not clear
the atmosphere of the cloud of doubt
and uncertainty that has hovered over
the bill ever since it was reported to tho
House by Chairman Springer. II is true
the resolution to support the bill intro
dl5ed by Speaker Crisp was carried by
very narrow margin, which was probably
due largely TO his personally popularity
among the members. The vote was 81 for
and 80 against with 20 absentees. The gen
eral impression here tonight is that the
bill cannot pass the House.
over on the Senate side of the capitol
there is a disposition to frame a hnan-
cial measure to meet the changed cOndi-
ton of affairs. Underlying the whole
question are the wise suggestions made
ana agreed upon by the Senate steering
committee in the first session OF the pres
NA-e NAA W llGll the lGkiCstA u NAlH
man silver act was under consideration.
That committee was composed of Mr.. Jus
tice White of Louisiana, then a senator),
Senators Gray of Deleware, Blackburn of
Kentucky, Ransom of North Carolina,
CoCkrell Of Missouri, Villas of Wisconsin,
Walthall of Mississippi and German of
Maryland. The tendency now it to take
some practical steps to relieve the
treasury, for Secretary Carlisle shows
by the records that the expen-
ditures are $S0.000,000 in excess
of the receipts up to the present time. The
question is being quietly considered by
the leading senators on both sides of the
chamber, and If any result is obtained it
will probably be on the lines of COM
promise bill. 1t is proposed to issue $780,
100000 of two and one-half or three per
cent. bonds of the denomination Of $50,
and make it a popular loan, to run for
thirty years, or a shorter period, at the
discretion of the Secretary of the Treas
ury. 500 100000 Of the money derived from
the sale of the bonds is to be expended to
relieve the present wants of the treasury,
the balance to be issued from time to time
to take up the greenbacks and retire
them as rapidly as the national bank cir
culation increases; to permit the national
banks to issue notes up to the par value
of their bonds, to reduce the tax on ma
tional and state banks from ! to Il per
cent, to withdraw from circulation all
United States treasury notes and ma
! tional bank notes under $40. and issue sir
yer certificates from 81 up to so, thus Civ
ing fair recognition to the advocates of
silver. To authorize the holders of silver
| bullion to take their silver to the mnts of
the United States for actual coinage the
government to charge as seigniorage the
! difference between the commercial and the
coinage value of the silver, not to exceed
$50, 900 in any one year. The govern
ment to withdraw the greenbaeks and the
treasury notes from circulation as fast as
there is an increase in the national bank
ing currency and silver dollars To pro-
hibit the national banks from withdraw
ing their circulation without the consent
of the Secretary Of the Treasury, in order
to prevent the contraction of .the currency.
The bill also proposes to require duties on
all imports from gold standard countries
to be paid one-half in gold.
The more this subject is discussed, the
more reasonable it appears Secretary Car
Isle and the friends of the administration
are said to be in favor of something of
this nature. 1t is said that some of the
republican leaders are willing TO lend their
aid to pass such a measure. which is con-
structed with view to meeting the de-
mands of all the contending elements,
from the gold bugs down to and includ-
ing the free silver and state bank tax ad-
vocates. The suggestions herein contained
will be formally presented in the Senate
in a few days and it is claimed that they
will commend themselves to a majority
of the two Houses of cOngr rSss.