Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1896-01-02

Washington, Dec. 27.-The repub-
ncan members of the house who are
opposed to the bond bill to be voted on
today, met in caucus last night TO ma
ture plans for the opposition. Forty
members, representing twenty-Ihrec
states, were present. 1t was claimed
by the leaders that not more than halt
OF the republicans who antagonlze the
bond bill attended the caucus and that
they have enough votes to defeat the
Dill, unless it is modified. The senti-
ment OF the caucus, as it was voiced in
numerous speeches, was in opposition
to the issue of bonds, in time OF
peace and that greenbacks ought not
TO be retired, at least in the manner
prescribed by the bill There was no
little talk to the effect that the COM
mittee on rules should give the rank
and file of the party an opportunity 10,
express their opinions on the proposed
legislation before it was adopted as a.
party policy. The caucus chose COM
mittee TO confer with the speaker and
the committee on rules and ask for an
extension Of the debate on the bond
bill to two or three days.
The proposed bond bill Is as follows.
That in addition to the authority
given to the secretary of the treasury
by the act OF Jan. IA, 1875, entitled An
act 10 provide tor The resumption OF
specie payments, he Is authorized
from time 10 time, at his discretion, 10
Issue, sell and dispose OF, at not less
than par, in coin, coupon or registered
bonds OF the United States 10 aB
amount sufficient for the object stated
in this section. being not to exceed 3
per ceutum interest per annum, pay
able seml-annualy and redeemable a.
the pleasure OIL the united states IN
coin after five years from their date
with like qualities, privileges, and
exemptions prOVlueu III Salu aCE 10Y
the bonds therein authorized. And the
secretary Oh The treasury shall use the
proceeds thereof lOr the redempuOn OF
united States legal tender notes and
Tor no other purpose. Whenever the
secretary OIL Inc treasury snail ofter
any Oh me DOnuS authorized Ior saiG'
by TINS act, or by the resumption act
OF $40, he snail advertise the same and
authorize subscriptions therefor TO be
mace at tue treasury department and
at the subtreasurles and designated
repositories OF the United States.
That 10 provide 1or any temporary
deficiency now existing or which may
hereafter occur, the secretary OF the
treasury is hereby authorized at his
ulsCrG~lon 20 issue CeruNci.,e5 Oh in
deOtedness OF the UniUed States to am
amount not exceeding 500 900 900 pay
aDle III Luree years aLLer lnelr uaLe 10
the bearer in lawful money OF the
United States OF the denomination OF
$40 OF multIples thereof, with
annual coupons Tor interest at the
rate OF per centum per annum, and TO
sell and dispose of the same for not
less than equal amount OF lawful
money Of the United States at the
treasury department and at the sub
treasures and designated repositories
OF the United States and at postoffices
as he may select. And such certif-
Gates shall have like qualities, priv
lleges, and exemptions provided in said
Resumption act Tor the bonds therein
authorized, and the proceeds thereof
shall be used for the purpose pre-
scribed in this section and for no,
other"
There may be an important change
made by the ways and means commit
Lee in the bill. Considerable dissatis-
faction has arisen among the republic
ans since the text of the bill was made
public, the dissenters asserting that it
could be used by a hostile administra-
ton for the permanent retirement of
the greenbacks. In Wednesdays COM
mittee meeting similar charge was
made by the democrats, that the repub-
icans proposed to secure what they
had always opposed and what PTesi-
dent Cleveland advocated-re
Of the greenbacks.