The San Francisco call., 1895-12-23
The Secretary of the Treasury
Will Be Authorized to
Issue Bonds.
PROGRAMME OF THE SENATE
The Holiday Session in the Upper Cham
Der Expected to Be Unproductive
of Results.

WASHINGTON, ID. c., Dec. 22-For
the first time since the short session
of the Forty-seventh Congress in the
winter of 1928 Congress will enter
holiday week tomorrow with the in
tention of sitting through the session
usually devoted to recess. The occa-
sion for this apparent zeal and devo-
ton to public interests was President
Cleveland's message Of Friday last, which
asked the Congress not to take Its usual
respite from labor at this season of the
year, but to remain and provide the neces-
sary legislation 10 relieve the financial sit
uation of the Government.
The House will enter upon this work
probably tomorrow, through its commit
tees announced on Saturday. The Ways
and Means Committee will meet at IL
O'Clock and proceed as rapidly as may be
with the considera ton and preparation of
q bill or bill to meet the condition which
confronts them.
The measure of relief which it is ex-
pected the committee will propose will in
clude, either in one bill or several, as may
be deemed most expedient, brief amend
ments to the tariff law, not involving gen.
eraI tariff revision, such amendments to
expire at the end of thirty months; au-
thority to the Secretary of the Treasury to
issue 3 per cent bond as popular loan
to maintain the gold reserve and for no
other purpose, with proyiso that the re-
deemed greenb backs shall not be used to
meet current expenses, but be retained as
long as necessary as part of the redemp-
tion fund; authority to issue to National
banks circulating notes up to par of the
bonds deposited as security therefor and
reduce the tax on National bank circula-
ton, and authority for the issue OF certifi-
Gates of Indebtedness to meet the temporary
deficiency in receipts until the revenue can
be provided
It,is estimated that these proposed tariff
changes will add from $50 900, 600 to $685.
0,000 to the income OF the Government.
One suggestion was that the Reed substi-
tute for the issue of gold bonds, made in
the last Congress when financial schemes
were being considered, should be reported
and passed.
While it is not probable that the COM
mittee will be ready to report to the House
before Wednesday or Thursday at the
earliest, there will be no adjourn
ment for more than day or two at a time
until the proposed relief shall have been
enacted Should this be accomplished
this week the House will probably then
indulge in three-day recesses over the New
Year holiday.
In the mean time the Committee on
Banking and Currency will be at work on
a bill to remodel the financial system of
the country in the hope that it will be
ready for report to the House whe N bust
ness shall be regularly resumed in Janu-
ary.
Although the Senate will be nominally
in session this week, it is believed there
will at no time be quorum present. A
financial debate may be precipitated
Tuesday il Vest presses the resolution for
which he asked immediate consideration
Saturday. This resolution directs the Sec
retary of the Treasury to coin the silver
bullion in the Treasury and apply the
. silver dollars so coined to the redemption
of the Treasury notes issued in payment for
the bullion purchased under the Sherman
act. If the Senate should be in humor to
permit the resolution to come to a vote, it
will surely pass, for the silver men are in
the majority by at least dozen and posi-
bly, fourteen votes.
The resolution of Butler (P.) of North
Carolina, directing the Secretary of the
Treasury to meet the obligations of the
Government with silver, whenever that
money is of less value than gold, is also
on the table, and may be made the subject
of a speech at any time.
1t is likely that the Senate will meet
only at intervals, for, as all legislation re-
Iating to finance and the revenue must
originate in the House, until some meas
ure is sent over from the House there will
be little occasion for the Senate to remain
in session. Now that the holiday recess
has fallen through. the Republicans may
urge the Democrats TO at once I'LL their
committee lists, but there IS little prooa-
bility of this being done until the new
wear is 1naugurated. Taken altogether,
the coming week in the Senate promises to
be unproductive, unless the unexpected
happens.