The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1896-01-05
Bond Bill Will Receive a Silver Amendment
and Then Die In Its Birthplace.
BONDS MAY Be OFFERED TO THE PUBLIC
The Idea That Only Syndicatcs Could
Furnish Gold Is -fsnniss
ana Private Firms Ready TO Take
Chem nt GOOD Priccs-Thc SyndI-
oates Enormous Pronts.
NirEinian Bureau,
Washington. Jan. 4th, 1896


Washington. Jan. 4th, 1896.
Especial Correspondence
THO debate of yesterday in the Senate
clearly demonstrated just what has all
along been anticipated. and the fact
remains that the bond bin of the uousc
will receive Il silver amendment in the
Senate and will die IN the House OF
its origin. In the meanwhile Mr.. Clevc-
land will proceed to issue enough bonds
to last through his administration and
the question of finance will fade from
the legislative armament to reappear
only at the National Conventions later
in the spring.
The issue of bonds was really expected
several days ago, as all arrangements
had been completed with the Morgan
syndicate, but the general remon-
stance which has come TO the Presi-
dent from every section OF the country
against the cOnSummation of the trans.
action seems to have set the President to
thinking. and there are some reason ["
believe now that he may after all re-
pudatc the syndicate deal and offer
the bonds to the public.
The idea that once prevailed that
the gold could only be raised by the
syndicate has been dissipated by the
offers OF banks and private concerns to
take the bonds at good prices. The
bonds one year ago were sold 10 the
syndicate at l0+i. and they wcr" allow
ed per cent. for conducting the busi-
ness The syndicate at once sold the
bonds for lis to ll9, thus making With
in twcnty-four hours the comfortable
profit of about SS,500.o0o.
This transaction was repeated ana the
Government practically lost over SIC
o00. coo by dealing with the syndicate.
The general sentiment OF the country
is opposed to bond issues any way. but
the method of selling them as employed
last year ScChrls 10 be contrary 10 reason,
unbuslnc.s Hike in the extreme. ana an
solutcly uulpablc for no earthly neces-
sity exists for its repetition.
rhc Modern Democracy.
Sinces the great tidal wave In lS92,
which swept the Republicans from the
legislative and executive branches oi
th,. Government and landed the Demo-
Gratis in absolute possession, there mas
been a constantly recurring succession
of blundcrs and un-Dcmocratic actions
which have tinaily put the party IN the
worst shape it has occupied since its
origin In the House of Representa-
lives n score of ambitious. but incompc-
tent Congressman kept that body III a
constant state of turmoil ana created
party diSscntiors and personal strifes.
Then the Senate. with Gormnn and
Rricc as arch conspirators. put up
Job on the party which cost II IN" en-
dorsemcnt Of thousands of thinking
men Then came the intcr-party fights
In New York Maryland and Kentucky.
and these results are still fresh in
the public mind, and speak eloqucntly
of the imhecility Of such moves.
The Democrats i'm the United States
Scnntc have just recently folded their
hands comrlacontly and let the Repuh-
Leans take everything in sight. and
then pirate about the responsibility,
etc
The crownin- case. however. has inst
developed in Maryland. The Senate Of
that State was made IN of fourteen
Democrats and twalvc Republicans.
ON" of tive Democrats so-called was
Mr. w. Cabcll Bruce. He wanted ~"
Democrats to elect him President OF the
Senate. and when i'm caucus they se
lcctcd another man Mr. Bruce promptly
90" N"or nnh offcrs hi-,eclf tn the
Republicans as their candidate for Pres
tdC'1t. This move would have left the
Srnate tie and the Democrats want
cd to control. so they revoked their
caucus action and elected MIR Bruce
This sort OF party allegiance is what
is causing 50 much trouble i'm the
party The Republicans Invariably
stand together for party purposes. but
il seems as II the modern Demo
Gratis We're always ready to disrupt
and dafcat their party for personal
gain.
MIR w. Cabeil Bruce is a native of
Halifax county. Va. and is n lawyer
Of ability. He married a daughter OF
Judge Fisher. OF Baltimore and IS n
member of the law firm of Fisher.
Bruce, and Fisher.
Personals ana Notes.
Tt Is generally understood to be the
case that women who have sinned have
a difficult task in attaining recognition
in a reformed life. but the William
and Mary College Fave carried the game
n point further. and refused to allow Mr.
w. c. i. Srecklnridge, OF Kentucky,
no deliver the annual address.
The church has received the repent
ant old man. and Kentucky seems 10
1avc accepted his declarations In good
faith. hut the college has less charity
One thing can be- and Is always said
of i5reck;nli1sc. Congress never knew
n man more incorruptibc IN legislative
affairs
Hon. Matt. w Ransom. Minister 10
Mexico. arrived in Washington last
night, and II registered n; the Metropolis
tan. Mr. Ransom is in splendid health.
and seems possessed of all the vlgor
of years ago.