Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1879-06-03
WASHINGTON CORRESPONDENCE.
WASHINGTON, ID. c., n
MAY 81, 1879. 4

WASHINGTON CORRESPONDENCE.
WASHINGTON, ID. c., 4
May %, 1879. {
The most important financial measure
before Congress is Mr.. Warmers silver
coinage bill. 1t passed the House on Sat
urday but its most obnoxious feature was
so changed as not TO be recognizable. The
following is careful abstract of the bill
as IL passed the House Ii fixes the weight
of the standard silver dollar ut Az IL
grains; authorizes the owners of silver
bullion to deposit the same at any mint TO
be formed into bars or standard dollars
makes the charges for coming such bullion
the difference between its market value i'll
New York and the legal tender value of the
coin; makes subsidiary silver coin cN-
changeable at the Treasury for legal tender
money TO the amount of 500; makes the stan
dard silver dollar legal tender in all pay
ments at their nominal value; requires the
Treasury to pay out silver coin without
discrimination the same rs gold coin IN
liquidation of all coin obligations against
the Government, and authorizes the issue
of certificates 10 depoSitorS of gold or Sill
yer coin or bullion; also authorizes the
issue of certificates representing coin In
the Treasury in payment of interest on
the public debt, both classes of certificates
to be receivable in payment of duties on
imports. The certificates for bullion de-
posted are to be for its average market
value i'm coin of like metal during the pre-
ceding week in New York. The gold and
silver bullion deposited is to be coined to
the full capacity of the minis Gin connec-
ton with other coinage;) and if the bullion
deposited for coinage does not amount to
=, OOO. 900 per month the Treasury Is To
purchase sufficient silver bullion To coin
that amount. There are influences at work
among Democratic Senators which may
cause the Senate 10 pass the bill a it came
from the House, but it is most likely that
the Senate will amend or Kill it.
The general appropriation BILL with eN-
confederate provisions to handicap the
national Government in the enforcement
of the laws, has gone to the President, and
another veto is expected in day or two
The Democrats feel that the evil day i
close at. hand They have postponed it
almost a long * possible, and they must
shortly face the music. The great and
troublesome question is, can the caucus
hold them together in the work of starving
the Governments" The general opinion i
that it cannot, and that the Democrats are
50 doubtful on this point that they dare not
caucus any more They are afraid now 10
move in any direction for fear Of commit
ting more hlundcrS. They have 50 far
backed down ~ to admit that they must
pass the general appropriation bin without
qualification. But they are hoping that
they can stick together in refusing supplies
to the Army Atany rate an early adjourn
mcut looks probable now.
The singular letter of Sec'y sherman to
friend in New York Is creating good
deal OF talk. Republican, think it a very
mudicious thing to DO. 1t is an open
declaration of his candidacy for President
and revivcs the charge that in Missouri
and other Southern states the Scc'y is using
the Treasury patronage To promote his
nomination. The thing that is most OBJ
iected to is his expression Of dependence
for support upon those who have not here
toforc supported the Republican party.
The universal verdict Is that the Secretary
has committed damaging blunder.
Confident that the Democrats have fur
nishcd them plenty of political thunder for
a whole campaign, the Republican Congress
>ional Committee will Immediately 20 to
work sending it ont to the people. Hon.
VIM. +. Chandler, Sec'y Of the Committee,
has arrived, and will push the work yigor-
ously.
The sale of the Surrounding certificates
has taken an unfortunate turn. They were
issued for the poor people, but the poor
People do not get them to any great extent.
The spectators are buying them up in inn
mcnse quantities, and the rule that no one
should have more that 800 worth is Of no
avail. Some spectators have bought n
many a. 500, 900 in one day through other
parties whom they furnish with money.
The total amount of $40, 900, 600 will be eN-
hauSted in a few days, and it will be found
that the spectators have $50, 600, 600, or
seven-eightS of the whole OF the poor
mans bonds. LOOAN.