New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-04-06
THE BOND PURCHASE BILL PASSED..
WILL PRESIDENT CLEVELAND VETO TIP
HIS ANTI. SILVER MESSAGE" OF 1855 to ooN'
AA' GpFssMAN WARNER RECALLED.

CREssMAN WARNER RECALLED'
fay TELEGRAPH THE rRrBusEl IN
WASHINGTON, April b.-The Bond Purchase oli
has Mt last passed the Senate and will in day or
two be in the hands of o conference ooniiniV'oY
Tho conferees on the part Of the Senate have al
reodv heen appointed. They are Messrs. Sherman
Allison and Beck, representing the extreme Vows
Of the silver and anti-silver men and the con-
so,v.tisn Of middle course already voiced on inc
Aoor Of the Senate by Mr.. Alllson. lhere maS 80
formal vote by roll-cal taken on the maj passage
Of the bill to-day The vote ysary Indicated the
s,rencth Of the respective sides and Simple Erte
yoce vote was therefore thought suinclenc me
bill is of such importance tiaV I'D
herewith given in FULL
ne IL enacted ETC., Tut Section OF tho acs making
spproprauons for sundry civil expenses u eao
men, for tho fiscal year ending Juno so 1867 anu io
other purposes which Is as follows sno 800
n, the Treasury may at time apply inc surplus y
y, the Treasury not otherwise appropriated or 50 mu'h
thereof as he may consider proper, TO the purchA'
tedempton Of United States bonds; pFoViaeu, 'h"' "l'
bonds - purchased redeemed shall constitute no p
-, The sinking fund bat shall be cancelled was htehoeo
" - .-,na,.nt proy sion OF law, and the same hereby
Soo,.a "a have been since enactment and 70 DO now
In full force and effect .,
so-on THAT Whenever the circulation or any portion
,,eraof Of any National bank, not in uqudauon small
ba surrendered and the same ia not taken up oy oo
National hanks within thirty days thereafter the SECRETARY
NJ tho Treasury IS hereby authorized ana uiro'"' "
nprcbase a. the market price thereof an cqu'"os
amour. In silver bullion IN excess OF the minimum Oh wv
million dollars worth per month for coinage
proyded in tho act approved February 2S ls'o'
An act 10 authorize the coinage OF the standard S'
doIIa, and Io.u.e its legal tender character
T7,oro is some speculation tonight regarding tle
probable action of the President Oh tli oi ~ nie,o
70 considered consistent he must veto III III oSs
20 TIC siIver message" written by nun III 1907
before he entered the White House n tha1
sager the President said, addressing SoiIY yIIT
Congress: Tin Ao bean
Your solicitude that my judgment shall nave Deen
carefully and deliberately formed is entirely ]us@ Az
"a aIso FULLY Justified by the nature OF the hnahciai crio
which VI isr the operation OF the act OF oonsi'' u
1870 90 1874 "a now el,se at hand BY com
alliance with the requirements Of that law au the Vah
OF the Federal Treasury have been ana are heapeu u
silver coins which now worth less that % per o
OF the geld dollar pTescribed as tho unit Oh 'uuo "
"A NJ the act OF february r. 1873 and WHICH, WIN n
,sr cerIscaes representing such coin are reoeVaoo
for all publc dues Being thus receivable WINE M
constantly increasing In quantity at the ra'e Oh
year It has followed OF necessity that the now VI so
into the Treasury has steadily diminished siiSo
go s,Iyo, certificates have displaced and are now ds
cnc gold and tho sum Of gold in the Federal treasury
now available for the payment OF the gold oohsaoh "a
~. TnI,cd states and for redemption of the United
states notes called greenbacks not already ehcroscheo
upop is periously near such encroachment
Further on in his letter the President sala Cna ~
the only way OF continuing III use the mass % y
gold coin and the mass of silver already c6ine o
Vas :" Inv a present suspension OF the purchases
and coinage Of silver am not aware ne
Continues that by any other method 1t IS possible
In is of momentous Importance TO prevent the I"o
metals parting company, to prevent the lncreaslns
disbursement of gold by the increasing coinage
Of silver to prevent the disLsc OF goa IN the
custom houses of the United States II the aaly
business Of the people, TO prevent the uLt 1 Az
emulsion of gold by silver ana ne hn'S s n 10
ietfer With a picture Of the impending aoola III ~
nose his views were not followed The PreSideh'
said: -,,.u. :. "a s,ra,v a most
,rorc and grateful duty Of the representatives Oh Inc
people 70 deliver them. So, ,r
Il is true that the financial crisis which MI,
CIcvoiand predicted on February "a, 1892 10
then close at hand" has not come 10 pass Suu1 ~.
but except that he may have changed radically
the views entertained by him then ne cahn i"'
consistently sign now bill which wll ada NOBODY
tnows how many silver dollars to the yearly coiI,,
are of s2s. 600 900 already provided ny law, ~ ~
vetoing the first section OF the o no 40 Hay
course make the excuse now that an nc "a,oe eu
Tos an expression of opinion by Congress upon
the validity Of the law Of oS2, Whlcn no SELLS
~ have been 10th to execute lest such coui 80
wonId reduce the surplus TO such an eNteHD Do ~
iIe an attempt to rev the tariff IN the lhtercsV
| of free trade ridiculous.