New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-04-05
SILVER IN THE SENATE.
AMENDING THE BOND PURCHASE BILL.
Mr.. BECK's AMENDMENT CA.RiEp-sPExoHKS BIT
MEssRs SHE MAN AND ALLISON.
ret non To THE raIBuxRI

rpr reLaoRAra TO THE raIBuSGl
WASHINGTON. April 4.-Another day was de-
voted in the Senate TO the consideration OF the
Bond Purchase bill without final action having
been bad upon the measure. One important
amendment however, adopted-that offered
by Mr. Beck. 1t provides that in case National
bank surrenders its circulation and such clrcuia-
tion IS not taken within thirty days Thereafter oy
another bank. the Secretary Of the treasury shah
purchase enough silver bullion at current market
rates TO coin 1t into silver dollars equal IN amount
to the circulation surrendered by The bank Inc
amendment was adopted by vote OF 80 10 H.
enough to secure the passage OF the oin-in the
Senate st least-over the Presidents Veto should
he exercise his constitutional pIerogative In inns
case Still, IL is fncLit TO see how the Presioent
can sign the hill W thout stuitifyng himself. hIs
antis liver letter TO Mr. warner anu liner LEU ~
ocratic members OF Congress IN the early part Oh
1885, before he reached Washington, certainty pre-
cudes the idea that he could possibly give MS
approval 10 such measure.
The following ID the vote IN detail:
Allison Bate Bscs Berry s'e eds cd sSTH
6s Ss b bsSs faSsSs
ton ingalls, Jones Arkansas Jones Nevada Mitchell
ss%sft Teller Eupis Vest vooIhse'' wai'hail wilson
.o. kaT so s' M:rs.SS PI, SAWYER Sherman
.sy and Cray q Dea%aps minority
As soon as the amendment was adopted, Nh.
Reagan, OF Texas, offered one OF his wliocao
propositions. 1t was nothing less than 10 pay pay
QUO the specie resumption fund Of 81 100000
held to secure the $34 5000, 600 OF outstanding
greenbacks in 'he purchase ~ bonds.
THERE WAS NOTHING IN THE REAGAN BUBBLE
Mr. Sherman punctured this Texas bubble IN
an able speech, which went over many OF the
financial questions already discussed in this de-
hate. He severely criticised the Beck amendment
lust adopted predicting one OF Its results tne
substitution Of silver certificates for National
hank currency and, of course, the ultimate sur
render by all National banks OF their circulation
He thought IL best to reconsider TINS feature %
the bill and leave il as u was left yesterdayLIa
resolution declaring the law under which the
President is authorized TO purchase bonds IN the
open market as in full force and OF equal validity
with any law ever passed by Congress tne t a
dents doubts to the contrary Notwithstanding
Mr.. Alison did not seem to entertain sach
fears as Mr.. Sherman had given expression 10 &c,
garding the effect 81 n OK ams spss onta;ued
at the Treasury Department that the circuiatioh
surrendered BY National banks since July !;
1887 was only some se'56o,ooo and that n al al
probability the amount in the future wou q oe
still less The additions, therefore; to the amount
Of silver dollars required absolutely BY iaW 70 be DC
low 50 600 600. He also showed that the num-
Der Of silver dollars actually coined last year was
not including the reSo ma FACT Of that INT
no evil effects had followed the coinage OF tnls
amount OF silver dollars in excess Of the lowest
figure required by law, he was lea to believe 1dsr
CONFUSION would do no harm and need not
alarm the business interests OF the country.
his amendment AID effort later on, on the part
of Mr. Mcpherson TO limit the coinage 81 SILVER
dollars under this bill and the law ALREADY 10 rorce
TO 81. 600 900 O month was rejected Dy the
silver men and could not without violating the
rules Of the Senate, he entertained as II was an
amendmsni TO an h % Tho Senate not Id
Incidentally IL was shown that the present 40,
minstration had utterly d sregarded and ignored
the law directing ,hs the Sn had been
coined and that Sc. 500, 900 remained to-day IN
the vaults Of the Treasurr. An effort TO reasn
ness Of the hour II is barely possible. though
doubtful that vote will be had tomorrow
THE FREEDMAN,s BANK IN THE SENATE
RIpIcULnUs KEsrRlcTIov PLACID ON THE OPERA
TON nF SIMPLE BILL
WASHINGTON, April (SpeoiaD.--The Senate
debated for some time to-day the bill to reimburse
aepositors in the Frtedmar's Bank, but without
reaching any conclusion Heretofore the manner
Of distributing money to the unfortunate deposiV-
ors has been left largely within the discretion Oh
the Controller Of the Currency. Republican SEN
ators have had enough confidence in the integrity
and good sense of the Treasury authorities to be-
lieve that they would execute the letter as wen
as the spirit Of the law, which are PLAIN .
Rnt X remained for Democratic Senators TO
reflect upon their party by an attempt 10 emu,ouy
In the bill ridiculous and lmpraciican,s .Sa action
of the Treasury authorizes but put the uepos,Its
to heavy expense in many instances and trequnehVly
work absolute Injustice Gs Mr vest sought
nnder the pretext Of barring claim agents or az
torneys from collecting any money under tne p,o
visions of the bill to restrict its payment IN caSo
NJ the death of the original depositor TO ms
widow father. mother, brothers ana sisters Only Only
The injustice Of such other heirs from
Collecting the money grandchildren for instance
too appare require any thing further ona az
mere MENTION al the fact IL was 10 VIII ,n ot"y
MI Sherman who has the bill in charge, pointed
out that the Controller OF the Currency couio 20
safely trusted with the task OF seeing [Ras LII
money reached the proper persons MI Oookren
Nth his love of petty detail insisted on his curious
amendment Finally Mr. Hscock offered as q
substitute proposition wn mnneT to the legal
heirs according to the statutes 10 regard 70 tne
Inheritance Of personal property IN force u .le
Even this did not satisfy Mr.. Cockren and pending
the consideration of the Hiscock amenament the
Senate proceeded TO discuss LOT Or, the resi- VI '''
afternoon the Bond Purchase OIL
yEToNG THE MKAY RELIEF ELL
rvv nv, s,pxyT WILL NOT PERMIT THE G 'UKr OF
CLAIMS To MAKE A FINAL SETTLEMENT
WASHINGTON April 4 (Specal.-The hostility
of the President toward every measure IN "hlcn
a man who assisted in putting down tne Nc
bellion is interested shown to-day. oy MS
veto Of the bill Tor the relei VI Wv
and the heirs of Donald Mckay II ihc'oen'Sny
shows also the Presidents entire conbemp. ,o'
the advice of the members Of his Cabinet ana ths
ooss with which he yields TO the counsel o.
demaooyues and political bucksters lie Vetoe'
,h hili nnder the pretext that IL is raid on th'
treasury. As a matter of fact, it does not pro
pose to take any money out Of TIE treasury b b
ppniv refers the claim OF the Mchays, WHICH n'l
Hao ,s.nnIuv befyr, COngr. for many yeaIs' 10
a fnai settlement to the Court Of a-ioimN; s+,,
s crcta - hi = favored TN Oh aio s ear
reonest, the rresid Mt " gn it, but Nj. Sprngei
Thai gr,at and glttering patriot Tor some sasYi
or another conceived an early aversion 10 IN
bill and Informed the President s sna' the We" Iowa
S"~tb Yesterday aft, rnoon Mr. Mckay called
the White House, but the Pres dent refused 70 Sc
him. Another effort this morning met WIN IN
sim lar fate. The fact that the OH naI 80