The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-02-04
TIE MIDDLE IN TIE SENATE
THE SILVER BILL AND THE RAFT or
pENDING AMENDMENTS.
Gold aud silver to he Treated Auke-A Com
| Ference OF the Latin Union-Kai-ing the
| Dollar 20 the Trade Dollar Standard.


wAsHINoToN Feb. 9.-The pending ques-
tion on tho Silver bill now before the Senate. is
on the amendment reported by the Finance
Committee to strike out Of the House bill tho
clause allowing any owner OF silver bullion to
deposit the same at any mint or assay Office to
be coined into silver dollars for his benefit. up
on the same terms and conditions as gold bull
lion Is deposited for coinage under existing
laws The next amendment, also reported by
the Finance Committee. directs the Secretary OF
the Treasury TO purchase from time to time
silver bullion. Mt the market price thereof. not
less than 81 600 nor more than ~ 900 900
per month and cause the same to be coined In
to silver dollars any gain or seigniorage arising
from this coinage to be accounted for and paid
into the Treasury rs provided for under existing
laws relative to the subsidiary coinage: Pro-
rided, That the amount OF money at the time in
vested in such silver bullion. exclusive Of such
resulting coin. shall not exceed five million dol
lars. Another amendment reported by the
Finance Committee. directs the President Of
the United States Immediately after the pas
sage Of the bill. TO invite the Governments Of
the countries composing the Latin Union. so
called. and Of such other European NATIONS as
he may deem advisable. to Join with the United
states in n conference to adopt n common ratio
oi legal tender as between gold and silver. for
the purposr ~ establishing internationally the
use OF bmetaic money. and securing flxity Of
relative value between those metals: the con-
ference to he held in such place IN Europe or
tho nitcd States, within six months. as may he
mutually agreed upon 10y the Executives Of the
Governments invited To participate therein.
Aitrr these amendments Of the committee
shall hnvc been disposed Of. those submitted 10y
individual Senators will be voted upon. MIR.
Burnside has submitted one TO the clause de;
clar lng that the silver dollars shall bc legal
tender for all debts. public and private. as TO
provide that they shall be- legal tender for all
such debts and dues amounting To sums over
$500. Mr.. Burnside SAYS his purpose in Offer
ing this amendment Is In tho interest OF the
laboring men of the country. The neXt amend
which proposes that tho silver dollar shall be of
the, weight of 42O grains standard silver instead
Mr.. Christiancy' 'sTamcndment 10 next in or.
der, 1t provides tor u silver dollar Of 434
grains. to be q legal tender for all debts.
except when otherwise provided for by law or
by contract. IL further auth the Secretary
81 900 900 nor more ihmn sioDi.0oo worth Of
bullion per month. to be coined. a.. this part Of
me an.ntuent being the sun" ~ that reported
10y the Finance Committee above mentioned. II
also provides that the bill shall remain in force
opli ono yer ,nnie,s renewed 10y Congress-
tn" next l. Mr. Booths amendment. which
authorizes amy holder OF coin To deposit the
same with tn" Treasurer or Assistant Treas
urer ~ the United States in sums not less than
tn dollars. and receive therefor erti"ates
The coin deposited for the certii gitc- shall be
retained in tho Treasury for the payment
receivable for customs. taxes. and all public
dues. The Object of this amendment Is 10 OBJ
| NNl' tn' 'niit'Irpn'ncSS OF silver coin IN
business transactions,
| Tho amendment ~ Mr. Morgan. next In or
der allows the free coinage of silver by permit
| ting any holder Of bullion 10 deposit It in an
nssay ON - or mint. not less than 800 in a
single deposit nor more than tlOO.O .ODu worth
| during a calendar month By TIE same depositor
the bullion 10 be valued AT its market price for
legal tenders M the date Of deposit. Certificates
are to bo issued to the owner ol TIA" bullion, pay
| nblc by the Secretary Of the Treasury in legal
| tender notes or silver dollars in not less than
! thirty nor more than ninety days. and after one
year the coinage of silver shall be- on the sane
| footing in all resp"'ta with the coinage Of gold.
Mr. Blain" has uii pruuing Tor the remoue-
tzlitiun Of silver. in which hc has not yet in
/ serted III" number of grains he proposes for
! the silver dollar. 1t authorizes the Director Of
/ the Mint. with the approval Of the Secretary Of
! the Treasury. from time to time - lN tho price
per standard ounce Of bullion. and further pro-
Nidrs thni the silver dollar shall be egnl ten
! der for all sums W to and including tj and for
! have the right 10 tender in fun payment, and
| the creditor the right 10 demand one-half the
/ amount in gold coin and on"-half IN silver dol
lars. This bill has not been referred 10 the FL
nunee Committee, Int lies upon the table nj the
| request Of Mr. Blaine. who. II il understood.
VIII submit IL ~ an amendment 10 the pending
! hill. Mr.. Blaine Is preparing himself for an
extended speech on the financial question.
! senators Thurman. Bayari. and others are pre-
| pared TO speak nHNt week. but IL H. generally
| believed that the silver hlll will be disposed Of
| by Thursday or Friday next.