The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1895-02-04
A NET FTNATCE BILL
Congressman Reeds Plan to Re-
lieve Existing Distress,
ONLY A TEMPORARY EXPBDIBNT,

The Plan Is TO Offer the Bill as Substitute
for the Administration Measure, and the
Maine Statesman Hopes for Democratic
support.
WASHINGTON, Feb. 5.-Calculations of
the supporters and opponents of the new
administration financial bill were upset
yesterday by the interiection of a new fac
tor into the campaign. Mr. Reed, Of
Maine, the Republican leader, brought
forward new plan for which he is en-
dcavoring to enlist the entire strength of
his party, and which he will offer as a sub
stitute for the administration scheme if
he thinks his plan can command su .fcient
support to make it a factor in the fight
There are but two sections to the Reed
plan in the form in which he has submit
ted it to his colleagues. The first proposes
te restrict the law of 1915 which author
ICES the secretary Of the treasury to issue
bonds to redeem the greenbacks, to 8 per
cent. bonds. The second section author
izes the secretary of the treasury when
there is a deficit to issue certificates of in
| debtedness to pay current expenses, the
certificates to be in sums of S25, $50 and
800 and any multiples therof, bearing in
NNAtob CIV y ltL Ntllu dllN pay tOlb III bOlllH
The bill, as Mr.. Reed explained to the
Republicans whose support he sought, is
but temporary expedient o'tide overthc
present distress The substitution of
coin" for the gold provisions Of the ad-
ministration plan is expected to win for it
the liberation, If not the support of the
free silver men Its comparative simple
ity, it is expected, will commend the bill
to the house in preference to more com
plex plans.
Mr.. Reed devoted himself assiduously
throughout the day to cloak room consul
tations with the Republicans He first
endeavored to elicit the opinions of the
! gold men, and then talked to the silver
men. The measure of his success is diff
cult to estimate. The plan is to offer the
bill as a substitute for the administration
bill, and by polling the solid Republican
| vote while the Democrats are divided on
the administration bin make it the most
| formidable proposition in the field, and
| perhaps induce the Democratic opponents
of the administration bill to rally to its
support.
| Chairman Springer and his colleagues
have counted on most of the Republican
| votes for the administration bill, and have
| prophesied that it would poll about the
same support that was given to the repeal
of the purchasing clause of the Sherman
act Accordingly Mr. Reeds move over
turns their calculations to a great extent.
Interest in the financial question about
the senate yesterday centered in the ac
| tivity of the silver senators and the FIRE
quent consultations held by them, This
taken in connection with the call issued
by Senator Voorhees,, chairman of the
finance committee, for a meeting of the
committee today led to the general sup
| position that an attempt would be made
by the silver advocates on the committee
to secure the reporting of free silver bill
Inquiry among the members of the com
mittee failed to develop absolute assurance
that the effort would be made but enough
was said in many quarters to indicate that
the general supposition was not without
good foundation.