The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1895-01-14
PLAN OF THE ARKANSAS MAN.
Again He Will Harmonic Elements
in the Senate.
HAS An IMPORTANT BILL READY.
1t Provides for the Issuance Of Bonds
and Bank Notes and the Unlim.
TIED Coinage Of Silver.

NAohINGION, Jdu' To- HOAo 10 ~
definite programme for the House this
week. There is bare possibility that a
new currency bill will be thrown into the
arena of debate, but it is only posi-
billy. The consensus OF opinion now
seems to be that any proposed currency
legislation 10 be successful must be initi-
ated at the other end of the Capitol.
Tomorrow is District Of Columbus day.
and Oh Tuesday the House Will Droba bly,
lake up the consideration OF the Indian
appropriation, which was reported yester-
day, and which is the only appropriation
bill on the calendar Ii the su6dry civil
appropriation bill Nhe most important of
the bils) is not reported before the Indian
bill is disposed of the Committee on Rules
probably will give the evening time to
business of the various committees. a
day may be given to consideration OF the
findings of the Court of Claims.
The probabilities are that the be-
ginning of the week will see the introduce
ton of still another currency bill in the
Senate. Senator Jones of Arkansas. VIII o
at the critical stage OF the tariff legislation
took the matter in hand and harmonizsd
the different elements so as to bring
definite results out of decidedly chaotic
condition, is the author Of the new bill
and he comes to the front this time as
mpromiser aud harm0niZ er.
There have been objections made to the
bills prepared by Senators Vest and Nc
Pherson on the ground in the case OF the
Vest bill that it leans too much toward
silver, and in the case of the Mcpherson
bill that it is too exclusively IN tue interest
of bonds. Senator Jones realizes that
silver and bonds are the two antagoniZing
elements in this question, and his effort
has been to prepare measure which will
perhaps no, be all that the friends of
either cause would naturally demand, yet
will in the end secure the support of both
elements.
He has been in con sultation with many
of the leaders of both these contending
elements in The Senate, and it is uDder-
stood that his bill as outlined has the ia
vOrable Endorsement OF the representa-
tives of all the conflicting interests. 1t Is
also understood that the terms of the bill
are not unfamiliar to leaders of the House.
Furthermore. it is probable that it has
been brought to the attention of the proper
authorities in the executive branch of the
Government.
The bill will first provide for the issu-
ance of 2h per cent bonds to the amolnt
of 100000, COO. which are to be paid in
gold aud are to be used both for the pur-
pose of meeting the current expenses OF
the Government and the redemption of
United States and treasury notes. The
bill will also provide for the issue of bank
notes to take the place of the treasury
notes In such a way as not to produce a
contraction of the currency. Another pro-
vision is that the national banks shall be
allowed to issue up to their par value, and
the tax on national bank circulation is
fixed at fourth of one per cent.
In the interest of silver the bill provides
for its unlimited coinage under the condi-
tion that the holder of silver bullion may
take it to the mint and have it coined into
silver dollars. the Government retaining as
seigniorage the difference between the
coming value of the bullion and its market
value on the day that the bullion is taken
TO the minis. The bill also provides for
the withdrawal from circulation of all
green backs, treasury notes and national
bank notes below $40. and the substitution
OF silver certificates in denominations of
less thar $40. which are to be payable in
silver. The bill will contain provisions
providing against either undue initiation or
contraction.