The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1890-12-16
NEW SILVER SCHEME.
Window Has q Plan to Head on Free
Coinage.

contained in the Sherman and Plumb
bills were taken up. The secretary en-
dorsed the proposition 10 reduce the COM
pulsory holding Of the United States
bonds by national banks and commended
the purpose to issue per cent. bonds.
In regard TO the proposition to purchase
| the existing surplus Of silver bull
liam now in the country, Sec-
retary Window took positive grounds
in favor OF the purchase rs a means Of
enhancing the price of silver and reliev-
ing the financial stringency. He sug.
gested, however, that il might be prudent
20 restrict by law the amount Of this sur
plus silver purchased IN any one month,
The caucus committee referred his sug-
gestions 10 a subcommittee of Sherman,
Allison, Aldrich, Plumb and Teller.
After deliberation the subcommittee
reached decision which was promptly
ratified by the full committee and be sub
mitted to the caucus tonight in the shape
Of a bill, To be drafted by sherman, the
main features TO be:
Provision for the purchase of sl2,OoO,-
600 OF silver surplus within one year
not 20 exceed 10000 worth in any one
month lin addition TO the purchase %
four and a half million ounces per month
now required by law.l The issue Of ,
per cent. bonds not to exceed slOO,O0,OOO
in amount, and the purchase of sufficient
silver bullion lin addition 10 the forego-
ing requirementsl 10 make good the de-
flciency in the national bank circu-
lation whenever that circulation
falls below slS0,cO1,0O0, by means OF the
issue of treasury notes based upon
bullion thus purchased. In case
the bullion sufficient in amount TO meet
this deficiency cannot he obtained, the
deficiency in the circulation may he made
good by the issuing OF ordinary treasury
notes in addition.
The bill contains clause providing
that when the price OF the silver scale for
one year remains constantly at or above
legal par with gold, any holder Of bull
lion may deposit it with the treasury and
have II coined into standard silver dol
lars or receive treasury notes therefor.
While the committee neglected TO take
specification upon the subject OF reduc-
ing the amount OF compulsory holding
of United States bonds by national
banks, all the members appear 10 be in
favor Of legislation for that purpose. The
report did not meet with the unanimous
approval OF the committee or the sub
committee in every particular.
New YORK, Dec. l5.-The Herald says.
"The man who is not happy after to-mor-
row Is hopeless case.n This phrase is
fair sample OF the sentiment of the solid
men who frequented the corridors Of the
Windsor hotel last night. Many Of them
were railroad magnates, who are here to
attend the great meeting at the house oi
j. Pierpont Morgan to-day. But goodly
number were men whose feelings are moi
apt 10 get the better OF them. Whether
this note Of hopcfulness was due more 10
the proximity OF London gold than 10 the
visit OF Secretary Window IL would be
| difficult 10 decide. But il is pretty safe
10 assume that both these favoring aus
pices had much To do with the changed
aspect for the future.
II was stated Oh the very best Of author
ity that when Secretary Window left fol
Washington yesterday il was understood
that immediate steps will be taken b,
the government 10 carry out his sugges
ton for the purchase Of 100000 ounces
Of silver bullion now ailoat in this coun
try in addition To the regular monthly
purchase OF 100000 ounces. Ii is ais,
intended 10 procure for the secretar,
power 10 buy more silver and 10 issu,
notes for these purchases 20 the amour
Of $4,000 a month, the amount Of III,
monthly retirement of national banl
notes. OF course IL is pretty general,
agreed that the surplus of silver bullioI
afloat is much in excess Of 100000
ounces; but the purchase Of this amour
by the government will, Il is believed
very materially assist TO relieve the strin
gency.
CHICAGO, Dec. ia special dispatcl
from Washington TO the Times says:
Washington official holding a high posi-
ton in the treasury department who doe
not care TO be quoted is authority tor th,
statement that President Harrison viii
to-day send to congress a special mesSag
on the silver question. In this message
Il is said, he will advise the passage of
bill providing for the issue OF addiliona
currency having for its basis the increase,
purchase OF silver. IL is stated on un
questioned authority that the presiden
has actually drafted the message, aud il
fact submitted it to his advisors at tn
last meeting Of the cabinet, but the sil
yer senators are OF the opinion the mes
sage will not 20 10 congress until afte
another cabinet greeting.
Since tho opening Of congress the senu
tors interested in the purchase by the gov
ernment Of the silver outpot Of the Wes
have lubored with the president 10 Undue
him 10 take the action here outlined. Tn
friends OF tho federal election bill hay
been particularly interested for the rea
son that as long as the silver question r,
mains an open one, just 50 long tb
danger will confront them that the demo
crats in the senate may unite with the sill
yer men in trade deal by which the pas
sage OF liberal silver measure and tn,
death Of the elet tions bill world be &C
complishcd at one and the same time.
There is general understanding tha
when the proper time arrives the demo
cratic senators will offer what will b
equivalent To the silver amendment or
substitute for the elections bill, whic
will in effect provide for the free coinag
OF silver.
Senator lloar, who is recognized as IN
pilot OF the elections bill, has alread,
been at some pains 10 state that Pres
dent Harrison will under no circun
stances sign free coinage bill. Sens
tor Stanford, Senator Teller and one q
| A., 1th.ra hnva ranIisu bnuav,r tba, Al,