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Washington Letter

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Parent Issue
Day
28
Month
December
Year
1894
Copyright
Public Domain
OCR Text

Washington, D. C, Deo . 24, 1894. If proof were needed that the administration stands ready to meet Congress more than half-way on any proposition looking towards currency reform, it was given by the readiness with which Secretary Carlisie agreed to the substkute for his bilí proposed by the democratie members of the house Committee on Banking and Currency. The principal differences between the substitute and the original bilí are, that national banks will have the option of continuing to do business under their present charters until they expire, or of reorganizing under the new law, and that they are only responsible for the redemption of the notes issued to the extent of their quota to the safety fund provided for that purpose. The bill will probably be further amended before it is brought to a vote in the house, as the present expectation is that a democratie caucus will be held within a day or two of the reassembling of Congress for the express purpose of acting upon the bill and any proposed amendments. Chairman Springer, who is in charge of the bill, says: "I feel that most of the objections have been overeóme by the substitute; and I think we will have a safe majority for the bill. " Representative Bland, of Missouri, is one of the democrats who do not think the bill will pass. He says he intends to offer his bill providing for the issue of coin and coin notes by the government as a substitute. Representative McCreary. of Kentucky, who has long ago demonstrated his right to a position in the front rank of the level-headed men of the house, says of the currency reform bill: "There are some things in the measure which I like, and many which I do not approve, but I take the position that if the Secretary of the Treasury and members of the Banking and Currency Com mittee say that this is a step in the right direction, I am going to vote for it. 1 think the democrats ought to stand together as a party upon a measure which the administration endorses. I have no idea that the bill will pass the senate, but I want to see the house do its duty. My own idea is, that when, in the last days of the session it becomes apparent that there can be no ñnancial legislation, both houses will agree to a monetary commission, such as I suggested in a bill introduced some time ago." It is said that Senator Sherman, whose thriftiness has never been excelled by any man in public life, owns one-half of the square of ground which a bill introduced by Senator Quay proposes to purchase for $1,000,000 to be used as a site for a residence to be erected for the president of the United States. There is no doubt about the president needing a residence, but there is much about the passage of Senator Quay's bill. President Cleveland returned from his hunting trip, feeling splendidly and loaded down with ducks, some of which will garnish the Christmas tables of every member of the cabinet and of a few other personal friends. He was delighted with the South Carolinians he met, and expresses the wish that he may enjoy other trips to the same vicinity. He found the White House alive with preparations for the Christmas tree' entertainment that little Ruth and Esther are to give to a few of their little friends. The democrats of the house have no reason to feel ashamed of the record of their work during the first three weeks of the session. They have passed three of the regular appropriation bilis and a number of minor bilis, and have devoted five days to a discussion of currency reform. The senate has done very little, and the little it has done is not apparent to the public, as it consists mostly of preliminary work on appropriation and other bilis. Some of ex-Speaker Reed's friends say that he considers himself far in the lead in the race for the republican presidential nomination, and that he has no fear of either Harrison or McKinley, but thinks he may be defeated by some dark horse such as Senator Allison or Gov. Morton. Democrats would prefer the nomination of either of the first three men, if they had any say in it. Either of them would be easier to beat than Allison or Morton, because of enemies in their own party. Chairman Wilson, of tlie house Ways and Means committee, expects that his bill for the repeal of the differerltial duty imposed on sugar imported from those countries which pay an export bounty, will be reported to the house and passed soon after the recess. This is the duty that Germany claims to be a violation of the "most favored nation" clause of the treaty with this country, and which many believe to be partially, if not wholly, responsible for the action Germany has taken and has caused Denmark to take against American meat. There is little doubt that this bill ought to speedily become-a law, but, as Senator George said of what the senate would do after the recess, "the business transacted will be what a small minority of this body decide it shall be. "

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Ann Arbor Argus
Old News