The record-union., 1895-01-14
BELIEVED TO HAVE THE APPROVAL
OF CLEVELAND.
Provides for the Issuance of Five Hun
dred Million Dollars Worth of
Two-and-Ope-Hal Per Cent. Bonds
Treasury Notes and Bank Notes
Under Twenty Dollars In Value.
Special to the REcoRD-UNIoN.

will see the introduction of still another
currency bill in the Senate. Senator
Jones OF Arkansas. who at the critical
stage Of the tariff legislation took that
matter in hand aud harmonized the diff
ferent elements SO as to bring definite re-
suits out of decidedly chaotic condition,
is the author of the new bill, and he
comes to the front this time as harmon
lzer and compromiser There has been
objection made to the bills prepared by
Senators Vest and Mcpherson on the
ground, in the case of the Vest bill, that
it leans too much toward silver, and i'll
the case of the Mcpherson bill that it is
too exclusively in the interest OF bonds.
Senator Jones realizes that silver and
bonds are the two antagonizi elements
in this question, and his effort has been
to prepare measure which will perhaps
not be all that he friends OF either cause
would naturally demand, but viii in the
end secure the support of both elements.
He has been in consultation with many
OF the lead ers of both these contending
elements in the Senate, and it is under
stood that his bill as outlined has the
tav orable Endorsement of the represent
atives of all the conflicting interests 1t
bill are not unfamiliar to the 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 ,! per cent. bonds to the amount
OF S5OO,O0 900, which are to be paid in
gold, and 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 Treas
ury notes IN such way as not to pro-
| duce contraction of the currency. An
| other provision is that the national banks
| shall be allowed to issue up to their par
| value, and tax on national bank circu-
! latiOn is nXed at one-fourth OF one per
! cent.
In the interest of silver. the bill pro-
vides for its unlimited coinage under the
| condition that the holder of silver bullion
may take it to the Mint and have it
coined into silver dollars. the Govern
| ment retaining as seigniorage the differ
ence between the coming value of the
| bullion and its market value on the day
| that the bullion is taken to the Mints.
| The bill also provides for the with
drawal from circulation OF all greenbacks.
| Treasury notes and national bank notes
| below SO, and the substitution of silver
! certificates in denominations OF less than
| so, which are to be payable in silver.
| The bill Will contain provisions provid-
| ing against either undue imitation or con-
| traction.
| INDIAN APPROPRIATION BILL.
WASHINGTON, Jan. Representative
| Holman, Chairman of the House Com
| mittee on Indian Affairs, has prepared a
report to accompany the Indian appro-
priation bill. 1t shows that the total In
| dian appropriations for 1895 were $685.. .5S9
| less than for 1894, while this bill, proVid-
ing for 1896, carries total Of S., 1876, $50, a
reduction of S23S, 173 below the app:opri-
alton bill for 1898. Many of the reduc-
| tiOnS were made upon the recommended
ton Of the Commissioner of Indian
| Affairs.
Representative Holman says: "While
! there Is material reduction from the
! estimates, especially as to contingent eX-
penditures, it is understood by the Com
mittee on Indian Affairs that in the main
| the reductions will not embarrasS the
Indian Office in providing for the Indian
! service. The most important Of the leg
| ISlatlve features incorporated in the bill
| is a plan by which it is proposed to solve
the veXed problem of Governmental re-
| lations with contract schools, so-called,
! most of which are under church control,
and which have been the cause of sec
| tartan contentious. The Secretary of the
| Interior is authorized to make contracts
! for the education OF Indian pupils in
| these schools for the next fiscal year to
| an extent not exceeding 80 per cent. of
| the amount so used last year, and each
| succeeding year the amount is reduced
! 70 per cent, so that at the end OF five
years ali such contracts will cease. This
| plan does not Include public schools with
which the bureau has arrangements for
| the education of its Indian wards"
of
| SO, 600 from the amount of the estimates
| for transportation of Indian children to
| schools is in pursuance of policy of
gradually concentrating them in schools
| on their reservations, in the belief that
| the education of children among the
! tribes tends to elevate all the Indians of
! the tribes.
SENATE PROGRAMME.
| WASHINGTON, Jan. I3.-The prospect
| is that the time of the Senate will be di-
| vided during the week between the dis
| cussion of the income tax, based upon the
urgent deficiency bill, and the continual
| ton of the debate on the Nicaragua Canal
| bill.
Senator Cockrell, Chairman of the
| Committee on Appropriations, is very
| hopeful OF being able to dispose of the
| income tax question by the time the week
shall be HAY gone, and Ii he should sue
ceed in this, Senator Morgan, who is in
| SHdI go vi tbc NlCdIdS ld Canal Dill,
thinks there will be no difficulty in
| securing vote on the canal bill before
the close OF the week, thus leaving the
| way clear for the bankruptcy and Terri
! torial admission and other bills, as well
as the other APPROPRIATION bills.
Chairman Cockrell does not regard
seriously the prospect of the prolonging
of the income tax question. There will
| be several speeches, which, while based
on the deficiency bill, will be directed to
| the discussion of general financial uues-
| tions. There is no disposition on the
| part of the Appropriations Committee to
| curtail speeches, but there has come to be
some talk of night sessions in case thew
! get to be too numerous, or if the disposi-
| ton to filibuster should appear to
be more pronounced than it now appears
probable.
Senator German will probably find
! opportunity tomorrow to mare the
| speech which he had intended to make
| yesterday.
| so Tar as known there are only three
| more speeches to be made on the Mica
raguan Canal bill, but it is possible others
| Will yet be announced. Senator Turpie
Will speak again on tile bill and Senators
| Vest and White have announced desire
| to be heard before the vote shall be taken
| Saturday will be given up To eulogies
on the character of the late Senator
| Vance.
| IN THE HOUSE.
! WASHINGTON, Jan. 13.-There is no