The Dickinson press., 1895-12-28

vote.
"Sec. 3. That the president be and
Is hereby authorized to designate the
secretary of state as the plenipoten-
tiary OH the part of the United States,
and that the sum of $4,000, or 80
much thereof as may be necessary, be
appropriated out of amy moneys in the
treasury of the United States not othea
wise appropriated. for the payment Of
expenses of said conference. and the
same shall be disbursed under the d.
rection Of the president In accordance
with section 291 of the Revised Stat
utes.'
Upward Tendency.
New York. Dec. 24.-Thc temper of
the street was more hopeful, owing
to the higher quotations for American
securities in London. 1t was recog-
nizel that the character Of the early
cables would determine the course of
the New York market. The street was
again crowded with outsiders. who
thronged the entrance and galleries of
the exchange.
A meeting of the New York clearing
house association was held to consider
the financial situation. All clearing
house checks which were required to
be certified have been certified by the
banks this morning. The meeting OF
the clearing house association ad-
jolrned after giving the committee au-
thOrity to issue clearing house loan
certificates to an unlimited amount.
This produced a good effect In London,
and the semi-panic is thought to be
over. All stocks advanced today.
London, Dec. 24.-There was less ex-
citement on the stock exchange. Busi-
ness during the day was exceedingl,
quiet, the operators generally being
disposed to await further news from
the United States. American stocks,
however, closed steady and other for
eign securities closed better. except
Rrazilians. which were particularly
heavy.
No Bond Issue.
WASHINGTON. Dec. 25-It can be stat
ed on authority that the rumor which
has gained some currency to the effect
that the president had decided to an
nounce another bond issue ut once,
and that this conclusion had been
reached ut Il cabinet meeting yesterday.
Is without foundation in fact. The
only members of the cabinet who saw
the president yesterday were Sccre-
tary Lamont. who had just returned
to the city, to pay his respects, and
later in the day Secretaries Olney and
Carlisle. The general situation was
discussed informally, but the question
of an immediate bond issue was not
considered. Indeen. it is stated that
In view of the presidents recent mes
sage to congress asking for legislation
which would render another issue Tin
necessary. it would be scant courtesy
to that body to anticipate its negative
action before an opportunity had been
given to it to comply with the presi-
dents recommendation. The presi.
dent has himself repeatedly stated,
however, that lie would protect the
public credit at whatever cost. should
the necessities of the situation require
heroic action. hut at the present mo.
ment, it Is argued, such necessities
have not arisen. Moreover, it ID
doubted whether. In view of the pres
ent state of the money market at home
and abroad, large loan could be
| fiOated except at Il great sacrifice to
the government.
Emergency Bill.
Washington. Dec 25-The house Re
publicans will introduce on the day
after tomorrow, and pass within q
week. two bills in response to Presi.
dent Cleveland's appeal for help for
the treasury. One Of these two will
be tariff bill to increase the reve-
nues. the other !: financial plan to
maintain the gold reserve and correct
the alleged existing eXils OF the green.
backs. This party plan was preferred
by two meetings of the Republican
members of the ways and means com
mittee-the first held Saturday night
with the cooperation Of Speaker Reed
and other leaders: the second this at
ternoon. The tariff bill will be entitled
"A bill to increase the revenues and
prevent deficits in the treasury" and
will 60 into effect when signed by the
president. if he signs it, and will re-
main in effect until Aug. 1. 1898. when
by its provisions. it's operation will
cease. The second bill will provide
for the issue OF bonds. The first one
will he an unlimited amount of 3 pei
cent tive-year coin bonds. to protect
the gold reserve. with the provision
that the currency redeemed by the pro
ceeds shall not be paid out for current
deficits in the revenues unless in ex
cess Of the revenues (which it is e1
pected they will not he If the first bill
is in operation).
In addition, the second bill will pro
vide for one-year 2 per cent treasury
certificates of Indebtedness, not to ex
coed $jO,OOO,OOO in amount. and tt
be disposed of at the discretion of thu
| secretary of the treasury to meet cur