The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1895-01-31
AMENDING THE BILL.
Cieveland's Plan Being Touched
Up In Committee.
SILVER MEN EXPECT ITS DEATH.
They Think the silver senators Will KIN
IL with TaIk-Repubiioans Cooperate
with Administration Democratic Senate
Committee AcComplishes Nothing.

WASHINGTON, Jan. 30.--The house
committee on banking and currency
spent the session in debating the new
administration bill, went through it by
sections, adopted three important
amendments and adjourned, leaving
two amendments to be acted on. Chair
man Springer says that the committee
will be able to report the amended bill
to the house today. Republican mem
bers say that the plan will be in com
mittee two or three days longer, but all
agree that it win be reported to the
house in time, although materially
changed from the original plan, since
the Republicans are disposed to co
operate with the administration Demo
Gratis. There was some sparring for
points in the committee. and general
disposition to engraft personal schemes
upon the measure, but as a whole ths
proceedings We're unusually free from
partisanship.
Chairman Springer has not yet de.
cided how much time he viii ask the
committee ON rule TO give for debate.
The bill is q privileged one and can be
California Democratic members. who
are fighting the Reilly Pacific railroad
bill very bitterly, are urging Mr..
Springer to report the financial measure
today, if possible, and displace the
Reilly bill. The action of the house
upon the amended bill seems to depend
upon the Repr blicans, who hold the
balance of power. How far the amend.
ments will placate the opposition, re.
mains to be seen, but it is conceded that
the chances Of the measure are much
better in the house than in the senate.
Its opponents are largely depending up
on the free silver senators to talk
it TO death, as they may be able to do i'll
n body which has no rule by which 1t
can fix day for a vote.
OF the three amendments TO the bill
adopted, the first proposed by Haugen
(Rep., Wis.,, reduces the tax upon the
circulation from ! per cent per annum
TO one.fourth of | per cent, payable
semi-annually. The second proposed
by Walker (Rep., Mass.), strikes out the
fifth section of the bill, that requiring
import duties TO be paid in gold. The
vote upon it was: Yeas, 6; nays, 4.
The other amendment adopted strikes
out the words fifty years after date"
and makes the bonds payable at the
pleasure of the United States after ten
years from the date of issue" This pro.
posal to shorten the bond term met
with nearly unanimous approval.
When the committee adjourned, two
amendments were pending TO he acted
upon One. offered by Mr. Rupell
(Rep.) stipulates that the retirement
and cancellation Of legal tenders for
each month shall not be greater than
the increase in amOuut of national bank
notes, under the operation Of the plan.
This amendment was carried when first
offered, and then there was successful
motion TO reconsider aud postpone action
for a day.
Representative Walker stands sponsor
for the other pending amendment, which
is TO require One-half of the reserve
funds of the banks TO be held in gold
coin or gold certificates, the other half
in silver coin or silver certificates. Ten
per cent Of the reserve is TO be held in
this stipulated form ON July /, 1895; 90
per cent at the end Of three months the
change being made at the rate of 10 per
cent a quarter It'll completed. The
discussion upon this amendment hinged
on the point whether forcing the banks
to secure gold Tor deposits would not
cause a greater demand upon the treas.
ury for gold than the raids which are
now in progress
The proceeding of the senate finance
committee meeting were based upon a
bill which had been prepared by Senator
Voorhees,. This bill provided simply
for the issuance of short time certificates
which We're TO be used for the purpose
of making good the reserve and of
meeting the revenue deficiency. but
when the afternoon session opened he
had added q clause providing for the
free coinage of silver. There was o
motion to strike out the silver provision,
which was lost on tie vote of TO 3,
all the Republican members and Senator
Mcpherson (Dem,l voting for the motion
and all the Democrats opposing it. A
vote was then taken on the proposition
as a whole and it was lost 10y a vote of
to 3, Senators Vest and White, as well
as Mcpherson, voting with the Repub.
licans. There was also a tie vote on a
motion by Senator Aldrich TO substitute
the Springer bill for the Voorhees, bill.