The Cambria freeman. [volume] (Ebensburg, Pa.) 1867-1938, 1895-02-01
AMENDING THE BILL.
Cleveland's Plan Being Touched
Up In Committee.
SILVER MEN EXPECT ITS DEATH.
They Think the silver Senators Will XIII
1t with TaIk-Republicans Cooperate
With Administration Democrats Senate
Committee AccompIishes Nothing.

- With Administration ACKNOWLEDGEMENTS
Committee AccompIishes Nothing.
WASHINGTON, Jan 3O.-The house
committee on banking and currency
spent the session in debating the new
administration bill. went through 1t by
sections, adopted three important
amendments and adjourned, leaving
two amendments 70 be acted on. Chair
man Springer says that the committee
will be able TO report the amended bill
co the house today. Republican mem
bers say that the plan will be in com
mittee two or three days longer, but all
agree that 1t will be reported to the
house In time, although materially
changed from the original plan, since
the Republicans are disposed 20 co
operate with the administration Demo
Gratis. There was some sparring for
points in the committee. and general
disposition 10 engraft personal schemes
upon tine measure, but as a whole the
proceedings We're nusually free from
partiSansnID
Chairman Springer has not yet de-
cided how much time he will ask the
committee on rule TO give for debate
The bill is privileged one and can be
called up at any time. Accordingly. the
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 Republicans, who hold the
ha1 - far ha nd
ments will placate the opposition, re-
mains 10 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 in
a body which has no rule by which II
can fix day for 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 l 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 il was: Yeas, 8; nays, l.
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 comm1ttee adjourned, two
amendments were pending to be acted
upon. One, offered by Mr.. Rupell
(Rep.), stipulates that the retirement
and cancellation of legal tenders for
zach month shall not be greater than
the increase IN amount OF national bank
notes, under the operation Of the plan
This amendment was carried when first
offered, and then there was a successful
motion to reconsider and 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 l, 1895; 20
per cent at the end of three months; the
change being made at the rate of 10 per
cent quarter until completed. The
discussion upon this amendment hinged
on the point whether forcing the banks
20 secure gold for deposits would not
cause 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
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 a clause providing for the
free coinage of silver, There was q
motion to strike out the silver provision,
which was lost on a tie vote of to ),
all the Republican members and Senator
Mcpherson DEM 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 by a vote of
TO >, Senators Vest and White, rs well
as Mcpherson, voting with the Repub
hCans. There WAS also a tie vote on a
motion by Senator Aldrich to substitute
the Springer bill for the Voorhees, hill