Morning journal and courier., 1888-03-27

dunn, but he had been under the impression
that the currency had not been contracted
within the last few years. He thought he
was right in saying the volume of green
backs, national bank notes and gold and sill
yer coin had increased rather than dimin-
| 1shed. Whether the currency was equal IN
| volume to the necessities and requirements
| OF trade was another question, but no mat
ter how that may be, there was no doubt that
under the proposed amendment there would
| be unlimited imitation. Nobody could COM
| pute now what the amount of imitation would
be. What did the amendment proposea It
proposed that there should be over pro-
duction of silver in the world.
MI. Stewart asked why, if there had been
such an overproduction of silver in the world,
silver would now buy more of land, of labor
ana or other commodities than when silver
was at a premium of per cent. over gold.
Mr.. Piatt declined to go into that ques-
ton, but it would not be denied that more
silver was produced than there was use for.
Mr.. Teller said that when he could get the
toor he would take occasion to deny it and
show there was not the slightest foundation
for the statements.
Mr.. Platt went on to say there might be
prosperity under the proposed legislation,
but 1t would be the prosperity that came
with initiation and it would be followed by
worse adversely. He regretted that a meas
ure of such Importance should be SO sudden
Mr.. Harris remarked that as the whole
financial question had been preoipitated on
the Senate there would be no solution of it
found to-day and therefore he would move
that the Senate proceed to executive session.
The bill went over as unfinished business
with Mr.. Stewards amendment as the pend
ing question. The full text of the section
follows
That any person may deposit at any mint or as
say office of the United States either gold silver
or OF d IN OF NOT less than 1se
mand and receive coin certificates therefor. The
be- the re e 81 fox I
of gold, nine-tenths fine the price be paid for
be stated BY the seeretar of the Trsasar on the
1st and 15thdays of each calendar month, and when
holiday such statement shall Be made on the follow
ing secular day. and the price SO stated shall be
York city marked during the fifteen days next pre-
ceding such statement; provided that the price
coed 81 for forty-two and half grains of silver
nine tenths fine. Bullion below the standard value
be reduced to the required fneness at the several
mints and assay Offices of the United States under
ury at the same cost to the deposition as is now
charged for reducing gold bullion to the standard
required for coinage. The coin certificates issued
under the provisions of the act shall be of such
denomination as the Secretary of the Treasury may
nomination than 81 or more than 81 900 and that
one half4of the amount issued shall be of demon
gold or silver coin at the option of the United
States and the Secretary of the Treasury shall
caused to coined from time to time such portions
Of the bullion deposited under the provisions of
the act may be necessary to enable him to fur
nish coin for the redemption of such certificates
All coin certificates issued under the provisions of
this act shall be legal tender at their nominal value
for ell dues public and private except when other
wise expressly stipulated in contracts heretofore
made
The Senate proceeded to consider executive
business and at 4:45 adjourned.
HoUsE.-Mr. Grosvenor, of Ohio, offered
the following resolutions, which were adopt
ed:
Resolved, That the funeral ceremonies Of the late
Chief Justice Waite be held in the hall of the House
of Representatives on Wednesday, March %, 1885,
Supreme court, and that when the House adjourn
the 9th inst it shall be until 80 o'clock March
29th
Resolved, That the clerk of this house notify the
Senate and the Supreme court of the passage of
these resolutions.
Under the call Of States the following among
other bills and resolutions was introduced
and referred: By Mr.. Granger, of Connecticut,
for the erection of a public building at Nor
wich, Conn.
The House then proceeded to the consider
alton of business pertaining to the District of
Columbia. The pending bill to prevent the
Dissertation of graves in the District of Col
umbia was further discussed and an amend
ment was adopted providing that if person
dying in hospital was an honorably discharg-
ed soldier or sailor notice of that fact shall
be given to some g. A. R. post in Washing
ton. No final action was taken the bill
and the House at 4:40 adjourned.