New-York tribune., 1896-01-29
TARIFF BILL HELD IN COMMITTEE.
NOT TO BE REPORTED UNTIL THE FREE COINAGE
BILL Is PAsSED-GORMAN'S SCHEME
FINDS FEW FRIENDS

NOT TO BE REPORTED UNTIL THE FREE COINAGE
BILL is PAssED-GoRMAN's SCHEME
FINDS FEW FRIENDS.
Washington, Jan. %.-The Tariff bill will not be
reported the Senate until after the vote has been
taken in the Senate the free-conage substitute
TO the House bond bill. The Finance Committee
did not take the bill up for consideration this
morning: in fact II was not referred 10 in the
full meeting. but an understanding reached
before the Democratic members arrived at the
committee-room. II is apparent that Mr.. Jones. OF
Nevada. Informed his Republican associates that
he would not give the necessary to report the
bill until the free-sver substitute had been passed
Immediately after this Is done. the Finance Com
mittee will be able to report the Tariff bill.
Much Of the time OF the committee was con
sumed in informal discussion OF the compro-
mise suggested by MIR. German as substitute "a
be reported from the committee OF conference after
the House bond BILL with the Senate free-sver
substitute. gets into conference. This proposition
indicated In these dispatches yesterday con
templates the issue OF &6oCcOC0 OF gold bonds with
which to retire the Governments present gold OBJ
legations (greenbacks and Treasury notes., the
declaration that all bonds outstanding IRE
gardless Of the provisions OF the obligaons) shall
be made payable in gold. and the opening OF the
United States mlnts TO the free and unlimited
coinage OF silver
This proposition found few friends in the commit
tee. Mr.. Vest was vigorous in his opposition and
other Democratic Senators opposed II because 1t
authorized the issue OF gold bonds and provided
the retirement OF the greenbacks Republicans
were antagonistc to man. The argument
made that this proposition would only work harm
TO the country and was intended more as political
compromise than solution Of the financial prob
lem. IL was pointed out by Of the sound money
Republicans that II meant simply gold basis for
the bondholders of the country and silver basis
for every other class. and on such groundwork the
financial fabric could not rest securely OF course
this discussion was entirely informal but IT showed
that such a proposition would find few friends and
many powerful enemies in the committee OF the
Senate which dominates Its financial policy.
Secretary Carlisle and Senator German were in
close conference for hour so Yesterday at the
Treasury on financial matters. During the last
week the two have been In almost daily communi-
cation Rumors aloat that Senator German
recommends a plan which Secretary Carlisle, II IL
Understood once favored. Of authorizing the coin
aye of all the silver bullion and declaring and
Gaining the seigniorage. and that, in the form In
ubich this matter is being considered by the Ad-
minstration, ii is coupled with the proposo on ad-
n,ocated by President Cleveland OF retiring the
grssnbacks and allowing national banks to issue
notes UP to the par value or the bonds heid by
,%en Some color of probability is given 10 these
r,nnrs by the fact that Senator German who is
Snir,nan OF the Democratic Steering Committee
baa been sounding Senators within the last>1ew
dsys on the probability OF such scheme passing
CO.