Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1890-07-08
lie SILVER BILL.
a Conference Agreement Rcached-Tex
of the Compromise Measure.
IHr feIagranh % tho DlspatcA.l

WASHINGTON, ID. c., July THE con-
forrces ou the pari of the TWO houses tins
afternoon reached an agreement on the
Nuiut. of difference ON the silver bill.
This result which was hardly expected to
le reached so soon, was brought about III
thi. way. After the first Intellectual con-
ference la-t Thursday the Republican
pembors decided that an agreement could
le more speedily and satisfactorily reached
los "a party consultation rather that IN
% conference open 10 both political
YartIc- Accordingly Senators sherman
and Jones and Representatives COnger
and Walker entered upon the task
az drafting q compromise measure. Ihey
progressed so rapidly in this that the con-
renee substitute was completed in al
essential points save one and sent TO the
printer yesterday. The one point lett open
related u the amount Of silver bullion TO
lepurchasal Mcssrs. sherman, Conger,
aud Walker thought that 100000 ounces.
monthly would Doe tar compromise, but
Senator Jones declared for $4,000 ounces,
such was tho state of affairs this morning,
when oyortures We're again made 10
flr. Jones 90 accept $4,000 ounces
aud % urge speedy decision on the hill.
The Oycftures were rejected and when the
piopositi0n was made % take up the tarih
an iu Che Senate this afternoon the silver
men manifested their power 10 check the
Sow of party legislation unless their de-
uauds were met. Soon etterward the he
publican members of the conference were
again called together. Tho words five
hundred thousand were added to the
four million ounces contained IN the
printed conference substitute and the
agreement was completed.
Senator sherman spent few minutes m
drafting % formal report 70 the Senate ana
then notified the Democratic members
Senator Harris and Representative Bland
who happened 90 be ~ the Senate cham
bar that another conference was 10 be
lel. This time the conference commit
Tee was ln scs slOn about half an hour. Inc
agreement was formally ratified. although
The Democratic members refused to sign
the report Mr. Sherman presented the
report % the Senate tins afternoon
nud gave notice that he would call It up
ST action tomorrow. As the report must
lie acted upon bv the Senate before II can
b. considered in the House, Chairman
COugcr, who Will make the report TO the
House, could not say when II would be
Irecntcd 90 that body, but IS disposed 70
lave speedy action. be Is well pleased
with the outcome of the conference, as,
indeed. is every one connect with 1t, ex-
cept tae Democratic members.
TEE TExr or rHE SUBSTITUTE
The substitute reads as follows;
That the Secretary OF the Treasury Is
hereby directed to purchase from time 10
time silver bullion tOageregate the amount
OF four and "a half million ounces, or 50
much thereof as may be offered. IN each
month "a the market price thereof, not ex-
teediue : for 81 and 25-l00 grains oi pure
tlycr aud 90 issuein payment OF such pur.
cuases If silver bullion Treasury notes OF
the United States. TO be prepared by the
Scefelary az the Treasury ia such form ana
f1cl denominations not less than 81 nor
laore than - 600 as he may prescribe, ana
sum sufficient 10 carry into effect thepro;
VISIONS Of This act il hereby appropriated
cur ~ any money in the Treasury not other
wise appropriated.
Section Z. That the Treasury notes is.
sued la accordance with the provisions OF
TINS Get shall be redeemabie on demand IN
CON al the Treasury Of the United states
or al any Mice Of any Assistant Treasurer
81 tho United States, and when so redeem
ed may be relssued. but no greater or less
amount Of such notes shall be outstanding
40 any time than tho cost Of the silver bul:
Ion and standard silver dollars coined
theretrom then held in the Treasury pur-
chased BY such notes. And such Treasury
notes shall be legal tender in payment OF
al debts. public aud private, ex.
cepi whore otherwise expressly stipu.
lated ia contract, and shall DO re,
oeiyable for customs taxes aud al
public dues, and when 80 received may be
felssued; and such notes when held by any
Rational banking association may De
counted az part Of its lawful reserve. That
upon the demand Of the holder OF any Of
the Treasury notes herein provided fol
tie Secretary Of the Treasury shall, undei
taeh regulations ~ he may prescribe 70