The Van Buren press., 1895-02-02
senator Ioues, Financial Bill.

Senator Jones. Of Afkdlibdb, On
Wednesday of last week intro
duced in the Senate a financial
bill liz has nai uader consider
auon fur TWO weeks past. ihe
bill makes concessions TO the
silver men-bnt not so great as
he desires-and which, from the
fact that Senator Jones was
regarded as representing the
views of the administration IN the
tariff bill at the last session, may
be regarded as having the
approval Of the President aud
Secretary Carlisle. The bill
authorizes the Secretary of the
Treasury to issue 100000 OF
per cent. bonds maturing thirty
years from date and redeemable
at the option Of the government
after twenty years These bonds
are to he of the denominations Of
$50 and $50, and multiples of
these sums, free from all taxes,
may be paid for in gold coin or
u .,ited States notes and Treasury
notes issued under the act Of July
IA. 1890, aud the provisions
thereof, may be used to defray
current expenses of the govern.
ment and for the redemption of
legal tender and Treasury notes
issued under the act of 1890.
Provision Is made for the dis
placement of all national bank and
United States aud Treasury notes
of denominations of less than $40
with silver certificates, the ex-
plicit declaration being made that
it is the intention of the act that
neither the Treasury Department
nor national banks shall issne or
keep in circulation any notes
other than silver certificates of q
less denomination than SO.
Silver bullion brought by citi-
zens to the Treasury is to be
coined into standard silver dollars
(4l2a grains), the seigIioragc-
which is to be the difference
between the coinage value and
the price of bullion in London on
the day the deposit is nade-tO
90 to the United States, and
whenever these coins are received
into the Treasury certificates in
denominations of not less than
$40 may be issued on them.
Senator Jones will urge the bill
in the committee and if reported
favorably will. push its consider
alton in the Senate to An early
vote.
Democratic Senal ors generally
regard the jones bill with favor
as a compromise measure, and
while there were many expressions
OF doubt as to whether it would
be possible to pass any bill during
the present session. il was the
general opinion that if any bill
should pass it would be on the
general lines indicated by the
Jones bill.
at is" said Senator Morgan, "a
compromise measure. | am for it
aud | think that ifit could become
a law it would be in the interest
of the general welfare. 1t wonld
unquestiOnably cause an easing
up Of the financial stringency aud
make better times"
Senator Camden said: 81 AIN
heartily in favor of the passage of
the bill. The passage of a tinan-
cial measure at this session Of
Congress is almost a necessity.
The objects to he covered by any
sound financial legis alton should
embrace the re reinforcement of the
Treasury and provision for the
retirement of the greenbacks and
Treasury notes, which are "a
menace to the gold reserve. In
order to do this some recognition
must be given to silver. This bill
covers these points in the most
conservative way, aud if this bill
cannot pass | can think of no
measure that can be passed cover
ing these points,"