Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1888-04-14
sILvER WINS.
Beek's Amendment Adopted by the
senate-Prospeets of silver Ger.
uGeates Occupying the Place of
National Hank Currency.

tIHeates OccupyfnE the Place Of
National Hank Currency.
WASHINGTON, April 4.-The silver
discussion in the Senate is assuming
an Importance entirely beyond the
merit OF the measure under discus
sion. The bill itself, or the Spooner
substitute therefor, simply declares
that the Secretary of the Treasury
may purchase bonds with the surplus
in the Treasury. Beck's amendment
thereto, which was to-day adopted by
vote Of 81 to 13, directs the Secre-
tary OF the Treasury to coin as many
standard silver dollars in excess OF
the minimum Of two millions per
month as may be necessary to sup
ply the amount OF national bank cir
culation surrendered during such time.
The debate and votes have dem
onstrated the fact that the silver men
are in the majority in the Senate, and
beyond this, that there is demand
for an increased volume OF money in
the country, whether in the shape OF
silver dollars, coin certificates or
greenbacks.
sHERMAN's CHANGE OF BASE.
Even Senator Sherman, who has
always been regarded as an especial
opponent Of silver, has changed his
base, and is advocating an increase OF
the circulating medium. The only
one objection he offored to Beck's
amendment was that coin certificates
should be issued on deposits OF silver
bullion in the Treasury instead OF
coming silver dollars.
In conversation with the California
Associated Press correspondent to-day
he said that TO continue the coinage OF
standard dollars would tend TO depre-
ciate the price of silver, while the pur-
chase of silver bullion OF the requl-
site fineness and the issue Of certifi-
Gates based thereon would tend to in
crease the price OF silver. In the
speech made by him later in the day
he declared that owing to the policy
adopted by the Democratic admins
tration there had been surrendered
since Cleveland was inaugurated
$40, 900 900 of national bank circula-
ton, and as an incident thereof $lO2,-
OOO,O OF United States notes had
been deposited in the Treasury.
CONTRACTION OF THE CURRENCY.
This contraction OF the currency he
claimed was directly due to the execu-
tive branch of the Government, refus-
ing to buv bonds under the existing
plain letter OF the law, and the refusal
OF the House to pass Senator Neither
sons bill authorizing national banks
TO issue circulation at par on the value
of bonds deposited in the Treasury
He made a strong argument in iavor
OF the continuance of the national
bank system.
Senator Reagan proposed an amend
ment TO direct the Secretary OF the
Treasurer to buy bonds with the $780,
100000 OF gold in the Treasury held
for the redemption OF United States
notes, but at the request OF Senator
Beck, who promised a future opportu-
nifty for the consideration of financial
measures, he Withdrew it.
The Senate is thoroughly aroused 10
the Importance of the financial situa-
ton. and while nothing may be devel-
oped at the present session of Con-
gress in respect TO an expansion OF the
currency, the question will play a
prominent part in the next Presiden-
tial campaign.
SENATOR STEWART.
Senator Stewart in conversation with
the California Associated Press CORE
spondent tonight, in speaking ol
Becks amendment, said: The
amount of silver that will be required
TO fill the gap will not be large at first
but il the Government carries out the
laws, and expends the surplus in buy
ing bonds, it will increase RAPIDLY
The national bank circulation will be
retired as fast as the bonds are paid
and the silver certificates will occupy
the place Of national bank currency.
sHERMAN's HARANGuE.
After the vote was taken on Beck
amendment Senator Sherman made 1
long harangue, in which he contra
dicted himself in almost every sen
tence. His speech was more of how
than an argument, protesting in on,
breath that he was the best silver MAJ
in the United States, and in the mex
declaring that the country would b.
ruined il more silver was coined. Ill
complained that the national bond
were not treated fairly, and that th'
present bill is cruel assault on them
ALLISON ON THE POPULAR SIDE.
Allison, Ewho is admitted ON al
hands to be the sharpest politician
now living, and who had watched tn
game from the beginning, ready 4
alight on either side as his Presiden
tial aspirations might direct him
jumped on Sherman, his former col
league, and exposed in the most mer
clless manner the absurdity Of SheT