Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1877-11-24
SENATORIAL AMENDMENTS.

Let the House after this look very
jealousy into the amendments
which the Senate may make in their
bills-the Silver bill, for instance.
If that bill comes back from the
Senate with an amendment limiting
its legal tender character to small
amounts, it seems evident to us that
while the usefulness of the bill
would be entirely destroyed,
the objections to it would be mag
nified a hundred-fold. What are
these objections? Simply that it
would cause a glut of silver, and
thereby the disappearance of gold
from the circulation. We hold these
objections to be untenable, l)rOUided
the siLre5' achen coined be GLOlced to
be used. Let it be received in pay
ment of private and Government
dues; let it be freely used in COM
merce; let the tariff be 50 modified
as to set commerce free, and, our
word for it, the minis cannot in
years coin enough to produce a glut.
But let the unlimited coinage be en-
acted, and then legislate so that the
newly coined silver cannot be used,
and of course there will be glut with
many disastrous consequences; and
for these consequences the Demo-
cratic party will be held responsible
by the nation.
Were we in the House, and were
it to come about that the bill could
not be passed through the Senate
without this amendment,we should
unquestiOnably vote to let the meas
ure fall through rather than let it
pass hampered with provision that
cancels all possible benefit from the
measure and invests it with the APP
prehension of serious dangers. So
with the Fort Amendment to the
repeal of the Resumption Act. 1t
enlarges indefinitely the powers of
the National Banks and releaSethem
from all Government Ontrol-an eff
feet ardently desired by the Radi-
Gals, while, leaving out John Sher-
man and the influence of pure GUS
sedness, they don't care cent. for
the Resumption bill.
2. S.-Since the above was writ
ten the Silver bill as amended in the
Senate Finance Committee has been
reported to the Senate in much
less Objectionable condition than was
anticipated. The amount in which
it is to be legal tender is not linn
tied; the amount to be coined is, the
MAXIMUM being four millions per
month, the minimum two millions;
and the silver bullion is to be paid
for at the mint at market value,
that amount of silver coin being
paid for it. Practically as much
silver will probably be coined as
would have been under the una
mended bill, for it is said that the
capacity of silver coinage in the
United States minis is not greater
than about $50, 100000 a year. We
subioin the amended bill:
BE II enanted, &c, That there shall be coin |
ell at the several hints of the United States !
silver dollars OF the weight OF 4l21a grains !
troy of stand silver as provided in the act of |
january, 1887 on which shall be the devices /
and SuperScTiptions provided by said act, |
which coins, together with all silver dollars /
hereafter coined by the United States of like ]
weight and fineneSS, shall be legal tender, |
at their nominal value, for all debts and /
dues, public and private, except where 9TH |
erwise provided by contract, and the Sec /
rotary OF the Treasury Is authorized ana dl- |
rected, out of any money in the Treasury not /
otherwise appropriated, To purchase from /
time To time silver bullion Mt the market price /
thereof, not less than two millions of dollars /
ppr month, nor more than four millions OF |
dalIars per month. and cause the same to be .
coined into such dollars; and any gain or /
SeignOrage arising from this coinage shall be |
accounted for and paid into the Treasury as
provided under the existing laws relative 10 /
coinage, provided that the
amount of money at any one time invested
in such silver bullion, exclusive of such re-
Sulting coin, shall not exceed five million
dollars.
-. All acts and parts of acts inconsistent
with the provisions OF this act are hereby re-
peGled,
In this form it will probably pass
the Senate and be accepted by the
TherearerumOrs ola veto by
the President emanating from the
Treasury Office.