The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-04-04
PURCHASES OF BONDS.
THE SENATE REFUSES TO RECON-
NIT THE BILL.

Mr.. Spooner Offers Substitute for
the Whole Bill, and the Senate
Agrees to 1t Without Division-Mr.
Beck Offers an Additional Section
The silver Men Busy.
WASHINGTON, April 3.-In the Senate to-
day the bond purchase bill was taken up
and a vote was taken on Mr. Palmer's
motion to- recommit the bill The motion
was rejected by 20 yeas to 81 nays.
MIR. Stewards pending amendment having
been read, Mr.. Beck asked him to withdraw
it for the present and until the bill should
be reported to the Senate. Mr.. Stewart
agreed to do so, and then Mr.. Spooner
offered as a substitute for the whole bill the
following:
That section two of the act making appro-
priations for the sundry civil expenses of the
government for the year ending June 30, 1882,
in these words: That the Secretary of the
Treasury may at any time apply the surplus
money In the Treasury not otherwise appro-
priated (or so much thereof as he may consider
proper for the purchase or redemption of
United States bonds, provided that the bonds so
purchased shall constitute part of the sink
ing fund, but shall be cancelled was intended
to be permanent provision of the law; and the
same is hereby declared to have been, since its
enactment, and to be now, in full force and
effect.
The substitute was agreed to without di-
vision.
MR.. BECK's SUBSTITUTE.
Mr.. Beck then offered an amendment, as
an additional section, which, after being
modified at the suggestion of Messrs. Stew
art and Allison, provides that
When the circulation or any portion thereof,
Of any national bank not in liquidation shall be
surrendered by deposit of United States notes
in the Treasury or otherwise, and the same or
any equivalent amount shall not be taken by
other National banks within thirty days. the
Secretary OF the Treasury shall purchase at the
market price an equivalent amount of silver
bullion in excess of the minimum monthly sill
yer coinage, which shall be coined and used, as
provided for in the silver coinage bill of Feb
%, 1873; providing, that nothing in the act shall
alter or repeal the silver coinage act of 1878.
Mr.. Sherman approved fully the substi-
tute as agreed to, and thought it an inn
provement on the House bill; but he thought
it better to postpone consideration of Mr..
Beck's proposition till a more convenient
season. He was of the opinion that the
coinage provision of Mr.. Beck'S amendment
was not wise, and that the number of silver
dollars already coined was too great.
The discussion was continued by Messrs.
u Stewart, Plumb and Mcpherson.
Without action on the amendment offered
by MIR. Beck and with the substitute for the
bill still to be reported from Committee of
n the Whole and to be voted on in the Senate,
Il the Senate at sos o'clock adjourned.
WHAT 1T MEANS.
n The Finance Committee did not give the
Il silver men and infationlsts in the Senate
today the assurance of prospective consid
81 eration for their schemes that they desired,
so the silver men and inhationists went
Il right ahead with their amendment to the
"a bond bill. They spent the afternoon perfect
n ing an amendment proposed by Mr.. Beck
i providing for enlarged silver coinage and
for coin certificates redeemable in either
81 gold or silver, which they will probably
n vote into the bond bill tomorrow in lieu of
the Plumb Treasury note and the Stewart
4 silver amendments. The House would
probably agree to such an amendment, but
the President would veto the bill so
amended