Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1895-12-28
WILL NOT GO HOME.
Members of Congress Forego Eol-
iday Pleasures.
Stay In Washington to Enact Fina nsinH
Legislation--A Proposed Measure
Bond Issue Said 20 BE
JS- Imminent,

washington, Dec. 23.-For the first
time since the short session of the 47th
congress in The winter of 1929, con-
gress will enter holiday week with the
intention of sitting through the season
usually devoted to recess. The occa-
sion for this apparent zeal and devotion
to public interests was President Cleve-
lands message of Friday last, which
asked the congress not to take it's usual
respite from labor at this season of
the year, but to remain and provide the
necessary legislation to relieve the
financial situation of the government
The house will enter upon this work
probably to-day, through it's commit
tees announced on Saturday.
The ways and means committee will
meet at IL o'clock and proceed as rap
idly as may he with the consideration
and preparation of bill or bills to-
meet the condition which confronts
them. The measure of relief which it
is expected the committee will propose
will include, either in one bill or sew
eral, Us may be deemed most cxpedicnt,
brief amendments to the tariff law,
not involving general tariff revision,
such amendments to expire at the end
of 80 months; authority to the secre-
tary of the treasury to issue three
per cent. bond as a popular loan, to
maintain the gold reserve and for no
other purpose, with proviso that
the redeemed greenbaclis shall not be
used to meet current expenses, but be
retained as long as necessary as part of
the redemption fund; authority to is
sue to national banks circulating notes
up to par of the bonds deposited as Sc
curity therefor, and reduce the tax on
national bank circulation; and au-
thority for the issue of certificates of
indebtedness to meet temporary de-
tciency in receipts until the revenues
can be provided. 1t is estimated that
these proposed tariff changes will add
from $40, 900, 900 to $35,000,0 900 to the in
come of the government.
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 present relief shall have
been enacted. Should this be accom-
plished this week the house will prob,
ably then indulge in three-day recesses.
over the New Year holiday.
Although the senate will be NOM
inally in session this week, it is be-
lieved that there will at no time be n
quorum present. A financial debate
may be precipitated Tuesday if Sena-
tor Vest presses the resolution for
| bo ,ol,a1 ir,,,nalio te ,,on si1ar,-
tion Saturday. This resolution di-,
rccts the secretary 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.
under the Sherman act. If the senate
should be in humor to permit the res.
olution TO come to vote it will surely
pass, for the silver men are in the ma
jcr;ty by at least q dozen, and possibly
IL votes.
Washington, Dec. 23.-An issue OF
bonds for protection of the gold re-
serve will be made within few days.
cabinet meeting was held at the
white house Sunday afternoon and a
decision reached to make arrange
nients for another sale of bonds for
gold at the earliest practicable mo-
lnent. An officer of the treasury, prob
ably Assistant Secretary Curtis, will
go to New York at once to confer with
the bankers and make arrangements
for the new issue.
!, The amount to be negotiated has not
/ been decided upon, but it is not likely
, to exceed $50,000,000, or enough to re-
, store the reserve to $l0O,OOO,O00 An ef-
fort will be made to place the entire is
| sue in this country. Though The details
have not yet been decided, and will not
be till after conference with the New
York bankers has been held, it is prob
able the issue will pc placed by subscrip-
. ton on the competitive plan pursued in
November, 1894.
The bonds will be four per cents, &c
years to run, and the government hope:
to realize premium of about 3E pei
cent. In view of the recent heavy ex
| portations of gold, and the prevailing
9 uneasiness, it is not believed higher
, rate than this can be expected.
a The decision of the cabinet meeting
, was reached after careful inquiry con
cerning the prospects of legislation il
q congress designed to help the reserve
y The president has become satisfied tha
: the republican leaders do not intend t.
y offer any assistance that will be o
I avail. The president asked congress
! for better means of replenishing tn,
! dwindling reserve, and congress i
about to reply with measure provid
ing more revenue.
Doubtless the republican leaders viii
II be exceedingly angry when they lear
= that President Cleveland issued mes
r sage Friday evening asking them +
y give up their Christmas holiday an
d stay here to attend to business, and o.
. Sunday, after they had agreed to re
=. main and had begun the task of pre-
T. pairing some legislation, he calls meet
!, ing of the cabinet and decides to issu
Londs for gold.