Savannah morning news. [volume] (Savannah) 1868-1887, 1886-01-29
THE COINAGE OF SILVER.
SENATOR SHERMAN'S BILL TO
DISCONTINUE IT.

Certificates for Bullion Deposited in
the Treasury to he Receivable for
Taxes and Customs sDues-ImprOprletv
of Making them Fun Legal Tender.
WASHINGTON, Jan. 2S.-Among the
bills introduced in the Senate to-day was
one by senator sherman to amend the
the coinage OF silver dollars. Following
is the fun text of the bill:
BE it enacted. ETC., That the coinage Of the
silver dollar provided for hv the first section
OF the act, To which this i an amendment, be
discontinued from and after the passage OF
this act.
SEC. }. That the Secretary OF the Treasury
IL authorized and directed to purchase from
time TO time SILVER bullion in bars of not less
than nine-tenths fine. at the market price
thereof. not less than 100000 ounces
troy per month"; nor more than
i.OOO,Oo0 ounces troy per month, and shall
issue IN payment therefor coin certificates
ot the United states ia denominations of not
less than $40 each. corresponding with demon
nations of United States notes, and the bull
lion SO purchased shall be retained IN the
Treasury for security and for the payment of
the same; and tho amount OF such certificates
at any time outstanding shall not exceed the
cost OF the bullion purchased by such ceriih-
Gates, and cert 6cai e. thus issued shall be re-
Ceivable for customs, taxes ami all other pub
lIc dues, and when received may be re-
Treasury shall redeem in coin said
certificates on their presentation for redemp-
ton At the Office Of The Assistant Treasurer
OF the United states IN the city of New York
in sums of not le - than $50.
Sec. g. That any holder OF standard silver
dollars or gold coin of the United states, or
gold bullion at its mint value, may deposit the
same with the Treasurer or any Assistant
Treasurer OF the United States in sums OF not
lcss than ten dollars anu receive coin certth-
Gates therefor, similar in denomination and
a. Ia ha a fa ffal
the proceeding section. and the cOia deposit
ted for or representlng the certificates, shall
be retained IA the Treasury for the payment
OF the same on demand.
SHERMAN INTERVIEWED.
Senator John sherman was seen to-
night by the News correspondent and
asked TO explain the object Of the bill,
The Senator replied: ''lps provisions
are simple. First, the suspension of the
coinage; second, the issue of coin certid-
Gates OF denominations not less than
$40, upon silver bullion, and
last the issue Of similar certif-
Gates upon gold or silver com, or gold
bullion deposited with the Treasurer as
security. The bill authorizes the pur-
chase Of from 1000 900 to 100000 troy
ounces of silver bullion, nine.tenths fine,
each month. instead Of the purchase OF 30
many dollars worth as now provided by
law. BY liking the standard of purchase
at ounces, | believe a more stable ar
rangement is made"
''DO you think your bill will receive the
support Of the silver men, SenatorY'
II have made no effort to ascertain how
the bill will be received by any one. 1t is
a subject which needs a great deal Of
study. l have thought over this bill for
about a year"
ais it nat in the nature OF cOmpro.
mise measure -
at ought TO satisfy the silver men, be-
cause it provides for the purchase of as
much silver as IS now prov ded for by law,
aad | see no reason why it should not sat
isfy the gold men, as it suspends the coin
age OF silver"
''What is to become of the silver bull
lion?"
THAT will have to be provided for in
the future. II the bill becomes a law il
will be held to secure the coin certif-
Gates"
"You make no provision for the ulti-
mate coinage ofthis bullion in the bll?"
"N0; that can be attended TO in the iu-
ture."
s'Why is it, Senator, that you do not
make the coin certificates full legal ten
derp'
1.-The bill makes them receivable for
taxes and customs dues l do not know
that we could make them full legal ten
der, and doubt the prOpriety Of attempt
ing tod so In a time OF peace"
THE SILVER MEMS OPINION oFTHE BILL.
The silver men do not like the bill in
trOdIced ny Senator Sherman to-day.
Chairman Bland spoke for them when he
said: "We do not want the coinage of the
silver dollar suspended, cOnditiOnally or
Internationally" THIS sums II all up.
If they cannot get free coinage OF the sill
yer dollar, aud as yet they do not think
they can, they Will content themselves
with the present state Of things. They
consider themselves certain OF a majority
in both houses against the suspension
Of the silver coinage, and therefore they
10 not think there ~ any occasion for
them 10 make concessions. Mr.. snerman's
bill cannot pass IN IT'S present shape, they
say, and. therefore, IL ia only important
as showing his idea OF solution
OF the question. The anti-siiver men who
have seen the bill generally dIsapprOve il,
but there IL some difference Of opinion
among them. some u the anti-slver men
say that the bill practically provides for
free coinage, and that 10 might put all the
bullion in the country In the Treasury,
representing IT. with warehouse certlh-
Gates. Taey say they think sherman viii
himself amend IL IL ID comes before the
Senate in its present shape.
CALLS FOR sUsPENDING THE COINAGE.
NEW YORK, Jan. 2S.-Thc mem bors OF
the Produce Exchange held q meeting
TINS afternoon aud discussed the silver
question. Resolutions were adopted cali
ing tor a suspension Of the coinage OF the
silver dollar.