Fergus County argus., 1890-05-01
AGREED AT LAST.
The Republicans Of the House and Senate
Come to Terms on Silver Bill.
If the Certificate Holder Does Not Desire
Silver Bullion He May Demand
Lawful Money.

Lawful Money.
WAsnlNoroS, April 23.-The Joint
committee Of the house and senate
which was appointed tn bring the two
houses together on the silver quest ion
had u meeting to day, and We're sue
cessfIl at last in set ling he differences
which have heretofore proved insur-
mount able. An arrangement was
agreed upon which will form the basis
of the hill to he pushed bv the Hep'''-
l,cans. The bill il, almost the tienti-
cal measure proposed 10y the senate
members Of the committee. IL directs
the secretary Of the treasury to pir-
chase four and a half million ounces Oi
silver bullion each month ut current
market rates, AMI to issue certificates
in payment oi tine same, but the pro
visO il added which makes it optional
will, the holder of certificates to ac-
cept bullion or lawful money in ret
for certificates. II is further provided
that the secretary Of the treasury may
refuse to return bullion il in his discre
ton it would apIear unwise to do so
In other words, il IA holder OF certiii-
Gates insists upon having lawful money
for certificates the secretary OF the
treasury must pay him such lawful
money, but ii he demands bullion the
secrets AIRY may use his discretion about
complying with the demand. This
provision is added for the purpose ol
preventing the withdrawal OF silverfol
purely speculative purposes. The ar
ranee,nent Is looked upon as II decided
victory for the friends of free coinage
and as the secretary will he compelled
to coin the bullion purchased in order
to have lawful money to pay Tor re
deemed cert iicates, the proposal prac
tically amounts to an agreement upon
the free coinage OF silver.
THE BILL N DETAIL.
WASHINGTON, April 23.-The Repub
licans OF the house and senate hav,
agreed upon a basis for the prepara
ton Of a silver bill The agreement i
in harnony with the measure adopte,
by the senate caucus committee. Will
an important amendment. The bil
provides that the secretary of tin
treasury be diret ted to purchase iron
time to time silver bullion to the te
gregate amount OF 1, 5OO,OOO ounce
OF pure silver in each month at TIA
market price thereof, not exceeding :
| nf -1l,.p nm,
: issue in payment treasury notes OF til
United States, to he prepared by til
secretary in such form and such de
nominations mot less than 81 no
more than 81 900 as he may pr,
scribe. Treasury notes issued will b
redeemable on demand in lawful none
of the United States, at the treasur
or by any assistant treasurer, am
when so redeemed may be relssued
but no ,reater or less amount of sue
: notes shall be out ST anding at any Tim
than the cost OF silver bullion the
: held IN the treasury, purchased 10y sue
notes; provided, that upon demand {
the holder of any treasury notes pre-
| vided for the secretary may -Nchana
tor such notes AN amount al sIlNt
bullion which Is equal IN value at I'll
market price thereof on day oi ~
change To he amount oi such note
The secretary Ot the treasury sholll
coin such por, ion of silver bullion l,u
chased under the prov slons ot the a,
= as may be necessary To proNld t6
the redemption of treasury notes pr'
4. ydei ior, and any gam or selgnlora.
:, arising from such colnage shall ie n
, counted ior and paid int @ he treasur.
silver bullion purchased under II
provisions nj the act shall b- >tiple'
- to the requirement : of existing law ar
I" he regulations of the mint service 90
u -rning methods oi determining Il
N amount Of pure silver contained IN
N the amount of charges or deductlo
y. ii any, to lee made. So much of Il
IN act OF February 2s. 1873, entitl'
II IAN act to authorize the coinage
:. the standard silver dollar and rest o
its legal tender character, as requlr
:" the monthly purchase and coinage
the same into silver dollars OF not le
n than S2,OOO,OOO nor more than $
OOO. 900 worth OF silver bullion,
b. hereby repealed The act to tn
si effect thirty days from and after
of passage. Senator Teller. OF the sena
- subcommittee, dissented. Later
- said he would make an effort to secr
a, free silver coinage; failing IN that,
" would accept the next best thing
'! could get. When the measure c;.'
he up in the senate he would move
's. make the certificates legal tender.
a.. ADOPTED IN carers.
ne WASHINGToS, April 23.-At Rep,
is- lican caucus tonight the silver bill "
m adopted with but few dissenting vot
m objecting members opposing he bill
ui- cause OF its failure to give full le
his tender to the treasury notes. In /
Of dition to the provisions OF the bill
an. ready stated it Is provided that
~, money now held in the treasury to
''' deem national bank circulation in
'"' case OF liqaidating banks, banks
duclng circulation, etc, Is to he -
sn' cred into the treasury. This iInd
he est mated to amount to about >.
of OOO, 1000, which will he restored to
nj culation. The committee on rules
hi, report resolution requiring consid
IN. alton OF the bill by the house at
II earliest possible moment, with stl