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Awaits The Vote

Awaits The Vote image
Parent Issue
Day
8
Month
February
Year
1895
Copyright
Public Domain
OCR Text

Washington, Veto. 7.- It seems now to bosettlcd ili-ii iwi announcoment of another bond loan will be made until to night or later, when the house will havo voted on the pending administration bilí Morgan and Belmont, of New York, who bave been here during the last severa days in consultation with the officials ou the bond question, liavn retornad home, and it is bolieved without any positivo knowledge as to what the administration (vould do. Close obsorvers, howover, are of the opinión that these gentlemen on behalf of thelr London oliente made the president a deflnite offer to take tlie whole ílOt!,0OO,O(Xl, bht al a rate uf interest oonslderably ln excusa of 8 percent, il not as high as three and a half. It is this higli rate demanded Lliat causes the president to hesltate. 11 lail.h iu the Peopl. H is weü known that he is disposnd to delay mattere in the hope of oongressfonal action. It is anderstoud that while here Morgan and Belmont expressed grave fear oi the result should the gold reserve be perniitted to go luuch lowor, and strongly urged upon tho president the necessity for speedy action. The president, it is understood, did not shan; their fears. He believed that the American people and those with most at stake had suíBcient conlidence in our government and its institutions not to entertain anv doubts ot its ability and purpuso to faithfully perform every obligation Oppoüitioli to Keed't Plau. Some opposition to Keed's (inancial plan is developing among the Republicana in tho house, but What proportions it will (issuinc is a matter of doubt. Ultra high tarifï men are assertinji that the flrst section of Uio substituto, tiiat wbich próvidos tor the issue of bonds, ainoimcs to a recession trom the Republican oontentlon that the only trouble with the finalices is the insufficlency of the reven ue. They say that the Democrats have assumod the responsibility of running the government and should be oompelled to baar the burden. Threo Pennsylvania Hepublioans have come out openly against the Reed measure, and with two or three silver men are working against it. lïhiiul'v Solution of tlio 1'roUlcm. Chairman Bland, of the coinage commitlee of the house, has prepared a proposed aniendment intended as a substitute for the iinaneü bill now before tho house. It provides in brief that all coin obligations of the government. shall be paid in standard gold or silver eoins as may be most advantageous to the government. Kor the purpose of providing the Ireaeury with snob coins the duties on importa are to be paid one-half in gold and oiie-half in standard silver coins. Free Coinage and uo Hond. ïo raloom the treasury notes issued under the Sherman act the liullion purchascd thereunder is to bo coined, nofc less than $10,01)0,000 evory month. The treasury notes redeemed aro to be paid into the treasury. The free coinuge act of 1837 is revived and all authority to issue bouds or to increase tho interesfc-bearing debt is revoked. To meet the deüciency accruing in the treasury and to enable tho secretary to set apart eoin to meet obligations of that character, the seuretary is authorized to issue treasury notes which are to be receivable for all demands of the United States except duties on importa and other coin demands. liland offerod nis écheme in the house, but it was ruled out on points of order in every shape it. was presented. rrospeuts Are Nearly Hopeless. Brosius of Ponnsylvaniu, wlio is a moniber of the banking and currency committee, snys that lie believes most of the Repúblieans will vote for the administration measure in the end, after reoordiug theiuselves for Keod'a bill, but ho fears that the Democratie defeetion will be tstrong cnough to defeat it. Hendrix, Republican, who endeavored to bring about the compromiso by whicli the Uemocrats would accept tho second sectionof Reed's plan, says that the prospeets for legislation are nearly hopeloss.

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Subjects
Ann Arbor Argus
Old News