The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-05-08

viii be satisfied with a reasonable time
for discussion OF the bill, This indefinite
phrase has alarmed some of the more timld
among the Republicans and engendefed
fears that the Democrats Will organize a
harassing campaign of delay. There VIII
be danger in this quarter, OF course until
the bill is actually passed. but the proba-
biities of such action being taken are not
very great. The Democratic purpose of
letting the Republicans take the entire re-
Sponslbi1ty OF passing revenue measure
and being content with lighting the propo-
sition on broad lines and letting the rec
ORD go at that lis honestly entertained by
controlling party leaders and is likely to
be adhered tc as the wisest policy. With
no obstruction from the Democratic camp,
Republican senators fee! that they must
rush the debate along and give the coun-
try an early rest from tariff agitation.
This feeling is growing in force as the SEN
ators consult among themselves over the
situation The fight over the WOOL sugar
and hide schedules may be prolonged be-
yond the estimated limit by Democratic at
tack and Republican defense. but the belief
now is that thirty days will be the limit Of
Senate discussion. BY tomorrow the ex-
perts Will have the comparisons between
the duties imposed under the Wilson law
and those proposed by the Dingley and
Senate bills ready and the documents VIII
be in the hands Of senators by Monday at
the latest. They will have ten days to ac-
quaint themselves with the details Of the
bill and prepare for the debate, which Is set
for the 18th.
The Treasury Department is experiencing
the foreign exchange market and the hope
is entertained sanguinely that the blockade
in the outflow of gold may be permanent
Assistant Treasurer Conrad n. Jordan, of
New York came over to Washington last
night by invitatio and was in conference
with Secretary Gage to-day. Secretary
Gage has unbounded confidence in Mr.
Jordan and relies on him for enlightenment
as to the exact financial situation in New
York. Mr. Jordan will be the direct con-
nection between the federal treasury and
the financial center of the western hemi-
sphere. 1t is understood perfectly at the
treasury that the stoppage of gold eXporta
ton at this juncture has in it certain ele-
ments of artificiality, and that the strong
influence of leading foreign exchange
houses was invoked to check the movement
in order TO calm incipient uneasineSS in
London financial circles pending the opera
lions of j. Pierpont Morgan and others for
the Tefundng of New York Central and
other American railroad bonds, the sudden
and heavy gold shipments suggesting to the
alert Englishmen the possibility of another
disturbance of American credits. The sue
ceSSful refunding of these bonds is expected
to be the signal for general rene wal OF
English investments in American securities,
which will be relied on to more than offset
any demand which might be made our
gold boards for Austrian, Japanese or any
other foreign account. Hence the anxiety
OF the administration for reliable informa-
ton as to exact conditions and as to the
Rieeiio the hfIlSS VI american Und0ce.
From the manner and bearing of those on
the inside and from the cheerful tone of
their conversation, it is plain that there is
newborn and robust confidence in the
purpose of the great bond and exchange
houses to prevent a serious inroad on
American gold reserves to supply any for
eign demand that is likely to arise This
result would not only be extremely salts
factory to the administration but very
grateful to the Senate which has been
looking apprehensively at gold shipping sta
tistics as q source of painful stimulation to
tariff activity.