The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-12-24


The fact that congress will remain IN
session during the holidays. together with
the announcement that the republicans
are considering plan for the relief OF the
treasury which will be reported on Thurs
day. has already had the effect Of quiet
ing the alarm that prevailed in financial
circles in this country and in Europe. In
New York yesterday the market for near
ly all kinds Of securities was strong
e. and il was also much stronger in Lon
don until about p. m. when the selling OF
American securities was renewed. The
desire in Europe to get rid OF American
securities is due wholly 10 the fear that
it viii lie impossible to get any kind OF
legislation through congress that does
not include concessions to silver. and that
eventually gold will go TO premium in
this country. With a fear OF that sort
prevailing it IS not at all surprising that
there rs a pressure to sell American Sc
curities
1t is probable that the brief outline Of
the republican plan for giving relief TO the
treasury that was published in our dis
patches yesterday is pretty nearly cor
rect. No doubt it will be modified in some
important particulars before it is report
ed to the House. Assuming that it is es-
sentially correct it will be seen that Il
contains some of the most important Of
the suggestions that were made by the
President in his annual message, and by
he .F r..
nual report. 1t wasn't to be expected that
al the suggestions Of the President and
the Secretary would be adopted Partisan
feeling would not permit Of giving so much
credit 10 a democratic administration.
We have no doubt that whatever fnan-
cial plan is agreed upon by the republi-
cans win be passed by the House very
promptly. But what about the Senate?
VIII that body pass any bill for the re-
lief of the treasury that does not include
very great concessions to silver? The sill
verite senator's say it will not They
claim to have a majority of twelve, and de-
clare they are in position to block all
financial legislation that does not meet
with their approval
There is much foundation for their
claim, but there are some Of the silver
senator's who. it is believed. could be per-
suaded to vote for relief legislation, on
the ground that the sentiment in favor
of free and unlimited silver coinage is
gradually becoming weaker. and that
therefore It would be a mistake to force
free silver coinage on the country when
the great majority Of the people don't
want it. But whatever the final result in
the Senate may be, there is certain to be
a long, and perhaps bitter, debate on any
plan for the relief Of the treasury that
may be proposed. The silverites will make
as hard fight against keeping the treas
ury in a position to maintain gold pay
ments as they did TO prevent the repeal Of
the silver purchasing clause of the Sher-
man silver law.
The President has been, and is stin
being, condemned for sending to congress
a message urging immediate legislation
for the relief of the treasury. 1t is APP
parent however, that if he had not done
so there would have been no financial leg
islaton until late in the session, If any
at all. His message has forced congress
to consider the financial question at once.
and immediate consideration of that ques-
ton is what is wanted.