The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-01-31
CLEVELAND'S BILL DOOMED
MUTILATED AND PATCHED BY MIR.
SPRINGER's COMMITTEE.
Provisions of the Measure as 1t Will
BE Reported to the House-Dcmo-
Gratis More Divided than Ever.
pecial to the Indianapolis Journal.

Special to the Indianapolis Journal
WASHINGTON, Jan. 80. - Chairman
Springer insists retaining control of the
administration currency bill. He had his
committee in session all day long. When
the members finally went home about
Of clock tonight the net results of the days
work fully justified Secretary Carlisle,s
wish that the bill should be taken out of
Mr.. Springers incompetent hands. Mr..
Cobb, a member of the banking and cur
rency committee, who has been an unfalter-
ing administration man through thick and
thin, told the Journal correspondent that
Mr.. Springer had permitted the bill to be
so mutilated and repatched in committee
that he did not believe there would be
enough Democrats to vote for it to pass
it, even if every Republican in the House
supported the BILL Mr.. Springer. however,
is sanguine as usual. He said tonight that
he would be ready to report the bill back
to the House Friday, and that there was
no doubt of its passage.
The manner in which the bill will be re-
ported back to the House on Friday is a
virtual confession of defeat. Mr.. Springer
will report the measure, amended beyond
recognition, without recommendation by
the committee" That means that the COM
mittee itself will not assume the RESPONSE
port. Mr.. Cox. of Tennessee, will offer
substitute for the bill, which, in effect, at
tempts to conciliate the silver by
ordering the coinage of all the silver in the
treasury and authorizes the Secretary of
the Treasury to issue long-term four-per-
cent. bonds at his discretion, to replenish
and maintain the gold reserve Democratic
members of the committee agree that
neither the bill nor the substitute pass.
So entirely convinced was Secretary Car
Isle that Mr.. Springer would be unable 10
handle the administration bill, and so i'm
censed is he at Mr.. Springer's apparent
determination to glorify himself at the ex-
pense of the measures fate that he is pay
ing no attention at all to the history of the
bill in Mr.. Springers committee room. As
matter of fact he has abandoned hope of
it's passage, even in the House, and at the
Treasury Department all thought is being
devoted to preparations for tie coming
issue of bonds. 1t seems reasonably certain
that no more five-per-cents. will be issued,
but that the next issue will be of the four
percent. thirty years denomination. There
will be no delay, and it is not improbable
that the Secretary may issue the call for bids
within the week, if it becomes evident on
Friday, when Mr.. Springer brings the
moribund administration bill into the House,
that nothing is to be expected. Assistant
Secretary of the Treasury Curtis, after a
long conference with Secretary Carlisle left
for New York this morning, where he will
meet the leading bankers and learn the
most advantageous terms on which the
next issue be f1oated. As already in
dicated, the issue will probably be one hum
dred millions. This will carry the treasury
well into the spring. By that time the
present Congress will have adjourned and,
according to the assurance of Senator who
is in the confidence Of the President. the
next Congress will have to be called in
special session.
The statements made in the Senate to-
day by Mess1s. Sherman and Vest, the lat
ter speaking officially for the finance COM
mittee, show that the Senate need no longer
be considered in any discussion of possible
financial legislation. Both gentlemen con-
frmed the statement constantly repeated in
these dispatches since the first references
to the Jones compromise BILL namely, that
there was never any hope for legislation ex-
cept by overwhelming concessions to the
silver men, amounting practically to COM
plete surrender
The total Withdrawals of gold to-day were
So, ,95l, ,74O, of which s3775,0O0 was taken from
New York, $13174o from Baltimore and $i5,-
900 from Boston. leaving the true amount of
the gold reserve at the close OF business
Sf4, SOL, ,322.