The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-01-22
ARMY BEEF INVESTIGATION
DIR. DALY'S POWDER EXAMINED BY
PROF. f. w. CLARKE,
And Found to Contain Both BOracic
and saIicyIic Acids-Neither Has an
OdOr-Peace Treaty in Peril.
,lal 10 the IndlanarolIs journal.

Special to the indianapolis Journal.
WASHINGTON, Jan. 21.-The House COM
mittee or foreign weights and measures
to-day agreed to report favorably the finan-
cial bill introduced by Mr.. Hill, of Connect
icut. This is in substance the bill prepared
by the indianapolis monetary conference.
1t declares impartially for the gold stand
ard and provides for the gradual retirement
of greenbacks. The committee gave hear
ings on the BILL Secretary Gage present
ing his views at length. At his suggestion
several amendments as to details were
adopted General Warner, of Ohio, was the
leading opponent heard. He wants no none
tary legislation that does not start from
and end at the free coinage of silver at is
to /. The bill was ordered favorably re-
ported by a strict party vote. The affirma-
tive vote was Stone of Pennsylvania, South
ard of Ohio Minor of Wisconsin, Hill of
Connecticut, Updegraff of Iowa, Littauer of
New York, and Mcintyre of Maryland The
negative vote was: Bland of Missouri, Coop
er of Texas, Hartman of Montana, Pierce of
Tennessee, Maxwell of Nebraska, and Coch-
ran Of Missouri.
The bill declares that the standard unit of
value shall, as now, be the dollar, and shall
consist of twenty-five and eght-tenths
grains of gold, nne-tenths fine, or twenty
three and wenty-two-hundredths grains of
pure gold" All obligations for the payment
of money public or private, shall be in con-
formity with this standard, urless otherwise
expressly stipulated. The coinage of sill
yer dollars hereafter is forbidden, except
from the silver bullion now in the treasury,
but this bullion may also be mnted into
subsidiary coins. A new division in the
treasury is created, to be known as the divi-
sion of issue and redemption, which is TO
have charge of the redemption and ex-
change of notes, and be independent of the
fiscal operations of the treasury. A gold re-
serve is to be set aside equal to % per
cent of the United States notes and treas
ury notes outstanding, and equal to ) per
cent. Of the entire coinage of standard silver
dollars. This reserve is to be kept unim-
paired in amount upon the books of the
treasury and is to be used for the redemp-
ton and exchange of different forms of
money. Silver dollars may be exchanged
for gold. thereby insuring their equality
with gold at all times. 1t is provided, in
accordance with the Presidents recommen-
dations, that United States notes or treas
ury notes once redeemed in gold shall not
be paid out again, except for gold coin."
The provisions for the complete retirement
of the greenbacks are as follows: THAT the
treasurer Of the United States shall, on de-
mand, pay in gold coin all United States
notes and treasury notes presented for pay
ment and as paid cancel the same up to
such an amount as shall equal but not ex-
ceed the increase of national bank notes
issued subsequent to the taking effect of this
act. That if, at the end of five years next
after the taking effect of this act, any
United States notes or treasury notes shall
be outstanding, a sum not exceeding one
fifth of such outstanding amount shall, as
received, be retired and Cancelled each year
thereafter, and at the end of ten years after
the passage Of this act United States notes
and treasury notes then outstanding shall
cease to be legal tender for all debts, public
and private, except for dues to the United
s -es.
le han1ing feature provides for raising
ci.culatlon to the par value of bonds de-
posted as security for the creation of
banks with capital of $4,000 in small
towns, and for tax upon bank-note cir
culation at the rate of one-tenth of 1 per
cent. selni-annually upon the value of the
franchise of national banks as measured
by the aggregate amount of their capital
surplus and undivided profits. Provision is
also made for the establishment of branches
of national banks under rules and reguIa-
tions to be prescribed by the controller of
the currency. with the approval Of the sec
Tetary of the treasury
The report Of the bill is a great triumph
for the currency reformers, and is directly
due to the efforts of Mr.. H. II. Hanna and
his colaborers. 1t is not too much to say
that without Mr.. Hanna's iudefatigable zeal
and intelligent direction even this forward
step would not have been taken 1t is not
expected this bin will be enacted into law
this session. but it helps to clear the ground.
to define the issue, and to prepare the way
Tor final settlement OF this most impor-
tant Of domestic questions. 1t shows again
that the Republican is the party of sound
money and the Democratic the party of in
flation
The President to-day sent these nomina-
tions to the Senate: TO be professor of
mathematics in the Military Academy. As
sociate Professor Wright p. Edgerton. To
be associate professor OF mathematics in
the Military Academy, First Lieut.. Charles
F. Echols, corps of engineers. Edmund d.
Wiggin, of Washington, d. c., to be regis
ter Of the land office at Weare, Alaska.
Assistant engineers in the navy TO passed
assistant engineers, Henry D. Price and
Martin ID. Trench To be brigade surgeon
with rank OF major, Orlando Quicker, of
Kentucky. Also some minor promotions in
the volunteer army.
The President to-day told DR.. Bristol and
Mr.. shafer, of Chicago. who had called on
him 20 have Henry Wade Rogers. president
Of the Northwestern University, appointed
one Of the delegates to the International dis
armament conference. 10 be held at the in
stance Of the Car, that he understood other