The Big Stone Gap post. [volume] (Big Stone Gap, Wise County, Va.) 1892-1928, 1895-02-07
NO BOND SALE
Until Congress Acts On clcyeiand's
Recommendation.
II tho Springer Bill is Defeated Thursday
Bond Issue VIII be Announced as soon
IS the Secretary Of the Treasury
Can Prepare His Circular

7
pond Issue VIII be Announced as soon
IS the Secretary Of the Treasury
Can Prepare His Circular.
WASHINGTON, Feb. 4.-tron Official
sources it was learned Sunday night
that no bond sale will be announced
until after congress has been given an
opportunity to act on the recommends
ton of the presidents message The
house will vote on the Springer bill
on Thursday If the bill is defeated
bond issue will be announced as soon
as the secretary of the treasury can
prepare his circular. If, by any chance,
tbs bill should pass the house, the pos
sibilitv of it's success in the senate will
be considered in the cabinet meeting
Friday, and unless there ore some
changes in the situation tie order VIII
be promulgated then.
The administration delays action be-
cause it does not wish to give its critics
in congress an opportunity to charge
that. in it's eagerness to sell bonds and
rccoup the gold reserve, it could not
wait TO see whether congress was going
to tnIe any action on the presidents
recommends tons.
Assistant Secretary Curtis ascertain
cd in New York that within three days
after the appearance OF bond circular
an issue of Sloo, ZOO, 900 four per cent
bonds would be taken up. On the
understanding that 4 bond sale is GER
tain, the gold exporters of New York
have practically agreed not to
continue their raid on the reserve.
It is believed that the government will
fix the term of the bond at July l, 1907,
when the four per cents outstanding
will mature, instead of for term OF
thirty years The period Of the bonds,
however, has not been definitely deter
mined.
The only prominent democrat in
congress who still believes that the
administration may avoid a bond issue
is the ever-sanguine Springer. The
Illinois man is confident even now that
the administration scheme will weather
congress, and within tWenty-four hours
he has declared that the secretary OF
treasury has not made up his mind to
a sale of bonds Springer is not in the
administration confidence and Meth
er the president nor the secretary of
the treasury consults with him any
more than is absolutely necessary for
the conduct Of business in the house.
His suggestions with reference to the
policy of the administration are as err
ratio and improbable as his attempts at
| fashioning legislation have thus far
been unsuccessful.
The administration project will have
an inning in the house this week. The
powers that be have assigned Tuesday,
/ Wednesday and Thursday to consider
alton of the bill introduced by Mr..
Springer. The discussion of the bill
will be a waste of time. The chances
are very strong that it will not pass
the house. and even should it have this
good fortune, it will have no future.
There are only twcnty-four more
days in the life of the Fifty-third con-
gress, and the senate will not have
time even to talk about finance, much
less to do anything in the way of lcgis-
lation.
There is possibility that the silver
men in the senate may make some de-
monstration in order to exhibit their
anger against President Cleveland for
his bargaining with foreign syndi-
cate to keep the United States on
gold basis by increasing the national
debt. This process has been denounced
so bitterly by Mr.. Teller and those
who agree with him that, in their de-
light at having baked all currency
legislation, they may take the agrees
sive.
1t is difficult to see what the free sill
yer men can do to prevent the presi-
dent from selling all the bonds he
deems necessary to maintain the gold
reserve. They arc fertile in resources,
however, and as they are thoroughly
imbued with the righteousness of their
position and are sure that it will not
be for the best interests of the country
! to buy gold at a premium for the bene-
fit of "a few exporters of the yellow
metal, the presidents course will be
! ScaCnlnSIN CRITICISED ana CneCkeu IL
possible
/ Mr. Cleveland makes no secret of his
determination to sell more than $780,
0Oo.O 900 worth of bonds, if he thinks
best He has even said he does not be-
lieve an extra session to be necessary,
provided ne can get all the gold be
wants. AS to the revenues, the presi-
dent has been informed by Secretary
Carlisle that, with the strain taken off
the gold reserve, the new tariff law
will supply all the revenues needed.
SCANDAL AND MURDER.
A Detroit Dentist Drained by His Wifo's