Arizona weekly citizen., 1896-01-18
WASHINGTON LETTER
Details of Chambers Popoula1
Loan Bill.
Senator Vest Flaxing Around-Presi-
dent Cleveland Hopes the Popu-
lar Loan Will Fail.

dent Cleveland Hopes the Popu'
lar Loan Will Fail.
(From our regular correspondent.
WASHINGTON, Jan. 10, 1896.
The decision Of the republican sena
tors to try to pass the house tariff bill
without amendment adds materially tC
the chances the bill has TO get through
the senate. TIE bill as it stands is not
q party measure, although it owes its
being to republicans. 1t is merely an
emergency measure, in tended to supply
the money that will be needed by the
government until the repu blicans regain
control of the executive and Legislative
branches OF the government. Then 6
tariff bill that will protect American in.
dUstries and at the same time furnish
the revenue needed will be ID order, and
will be forthcoming. Such bill could
not at this time become law, even if II
could get through the senate, as it would
be certain to run up against Mr.. Cleve-
lands veto. 1t is not, of course, certain
that the house bill will ever become a
law. 1t must in addition to the solid
| republican vote get the votes OF several
populist or democratic senators in order
TO get through the senate. These it is
believed it can get IN its present shape,
but it will then have to stand the chance
OF q veto. There is no probability that
it will be signed by Mr.. Cleveland, but
many believe he will allow it to become
law without his signature and be glad
to have the additional revenue it will
furnish.
1t is charged that some of the influ-
ence which is preventing the admins
tration recognizing the belligerency of
the Cuban revolutionists has been
bought and paid for by Spanish money.
The feeling in congress Ia favor Of such
recognition is daily growing, and uni, SIS
there Is great change In the nature of
the news from Cuba, it Is probable that
joint resolution directing the admins
tration to accord that recognition will
sooD be reported from both senate and
house foreign committees aud rushed
through with hurrah. Both commit
tees are waiting for Secretary Olney to
send in the information on the subject
which he has been asked for by house
resolution.
Senator Hansbrough, of North Dakota,
has introduced joint resolution order
ing the secretary of agriculture to re-
sumo the purchase and distribution of
seeds In accordance with the appropria-
ton made for that purpose at the last
session OF congress. 1t will be remem-
berei that Secretary Morton refused TO
spend that app opristlOn and abolished
the seed division OF the department of
agriculture.
Senator Chandler believes that il the
government, as result of democratic
Encouragement, has got to borrow
money it should do so by sure enough
popular loan, instead OF by issuing
bonds labeled popular" which will
probably all be taken by bankers. In
accordance with that ida, he has in-
PRODUCED bill providing for a popular
loan through postal savings notes, and
has given notice Of his intention to offer
it as a substitute for the free coinage
bill which was this week reported 10 the
senate as a substitute for the house
bond bill. Mr.. Ohandler's bill provides
that any person may deposit 500 in any
money order postoffice and receive q re-
ceipt acknowledging that there is due TO
him or his order postal savings note,
bearing interest from date. These re-
ceipts are to be eXchangeable at Bny
United States depository for postal
savings note worth one year from date
SOB, two years Sl06.10, three years
Sl09.30, four years S11260. five years
SIG, and thereafter the value 10 increase
at the rate of 81 year until redeemed.
The bill gives the right to the govern
mept to call these notes in after Fix
months notice by public advertisement.
Those who deposit gold may, if they so
desire, have the note issued to them
made payable in gold.
Senator Vest has been comparatively
quiet during the present session of con-
grese, but be broke loose, this week and,
10 what purported TO be an answer to
the financial speech delivered last week
by Senator Sherman, jumped all over
the administration for its financial policy
and the supreme court for its income
tax decision. Senator Vest still believes
that our only road to financial salvation
lies through the free coinage of silver
Mr.. Cleveland is said to be go much
afraid that the people may really bid
on those bonds that he has threatened
to withdraw the call for bids II he thinks
the gold to pay for the bonds is being
drawn from the treasury. The plain
truth is that he n yer intended selling
those bonds to any body except that
same old synd icate, and that the offer
ing of them to the public was merely a
grandstsnd play. Nevertheless if the
people will bid on the bonds congress
will make things warm for Mr.. Cleve-
land il be tries to prevent their getting
them. Mr.. Cleveland is praying that
they won't bid.