The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1890-07-09
THE SILVER QUESTION.

0tLNE6 1OE2 ttoNs
Am Awrsemsns "a Last Arrisea as-The
wesssra Men win-rext Of the Sab
stttutr.
WARRINGTON. July O.
An agreement upon the silver question
has at last been rcached.. II provides for
the purchase az 4.500, 900 eunces Of silver q
month, bullion redemption certificates to
10 redeemable In coin and 20 be full legal
tender. The full conference committee
met and the report drawn up by Senator
Sherman was adopted. The report was
presented 10 the senate Immediately. After
the first ineffectual conference last week,
the republican members decided that an
agreement could be more speedily and sat-
istactorily reached by party consultation
parties. Accordingly Senators sherman
and Jones and Representatives Congsr and
Walker took upon themselves tho task Of
drafting compromises measure. They
progressed 40 rapidly In this that con-
ference substitute was completed In all es-
sentiai poiuts save one, and vas al once
sent TO the printer. The one point left
open related 20 the amouat OF silver bull
lion 20 be purchased. Sherman, Walker
and Conger thought 100000 ounces
monthly q fair compromise, but Jones de-
elared for 4. SOC, 900 ounces. sSuch was the
state OF affairs Monday morning when
osertures we're being made 20 jones to ae-
eept 4,25n, 900 ounces. The western sena-
tors were Ia receipt Of teiegrams urging
them to hold out for the full amount
of 4,500,000 ounces and insist upon
the speedy disposition Of the bill.
So the overtures were rejected and
when proposition was made 10 take mp
the tariff bill In the senate Monday after
noon the silver men manifested their
power 10 check the iiow Of party legislation
unless their demands were met. Soon
afterward the republican members Of the
conference we're again called together, the
words five hundred thousand were added
to 4,000. 900 ounces contained In the printed
conference substitute and the agreement
completed. Senator Sherman spent few
minutes In drafting formal report to the
senate and then notified the democratic
members Senator Harris and Representa-
tive Bland-that the agreement was form
aAtJ tattneas a&tnoAku tBS 1tmOcfHttc
members refused TO sign tho report
The substitute provides that the secre-
tary Of the treasury shall purchase from
time TO time silver bnllion TO the aggregate
amount Of /. .500, 900 ounces, or 60 much
thereof as may be offered in each month,
the market price thereof mot exceeding ~
for 81 and 25-1f0 grains Of pure silver.
The treasury notes issued In payment will
be rsdsemabie Ia coin and legal tender in
payments Of al debts, public and private,
exospt where otherwise expressly
stipulated In contracts, and viii be receiy-
able for customs, taxes, and ali public
dues. Upon demand of the holder
Of treasury notes tho secretary shall,
under such regulations ~ ne may prescribe,
redeem such notes In gold or silver coin,
At his discretion, II being the established
policy cf the United States TO MAINTAIN the
two metals on : parity ~ith each other
upon the present legal ratio, or such ratio
as may be provided By law. The secretary
OF the treasury shall each month coin
2.000, 900 ounces of the silver bullion pur-
chased into standard silver dollars until
The Let day Of July, 1891, and after that
time shall coin ont OF the silver bullion
purchased - much - may be necessary to
provide for the redemption of the treasury
notes. The present Law is repealed. The
last section provides for covering into the
treasury the funds held for redemption of
the national circulation.