The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1890-08-17

contend for the prize of congressional
calling, each believing that his own ex-
perience will prove an exception to the
almost universal rule.
REPUBLICAN senators from the silver
mining states who at first accepted the
coinage bill passed by congress as Salts
factory are already inclined to regard it
obviously. Mr.. Teller, Of Colorado, has
served notice on the secretary of the
treasury that he must deal fairly by the
silver men in his construction of the
law or there will be fuss There is on
the senate calendar bill passed by the
house to discontinue the coinage Of the
So and 81 gold pieces and the Scent
nickel. Senator Teller has taken ad-
vantage Of this fact and by neat tacti-
cal movement secured vantage point
from which the silver men can conduct
good campaign at the next session of
congress If the treasury department at
tempts any quibbling. This strategical
position was secured by offering new
silver bill as an amendment to this
pending bill, which being on the calen-
dar can be called up at any time. SEN
ator Teller's measure directs the secre-
tary of the treasury 10 purchase 4,50O,-
600 ounces of silver each month at the
market price, not exceeding 81 for 371.25
grains of pure silver and to issue in pay
ment therefor treasury notes. These
notes are made redeemable on demand
in coin ard full legal tender, except
where otherwise expressly stipulated.
Thus far the bill does not differ from
the new law, but the provision which
follows giving the secretary OF the
treasury authority to redeem the trea-
sury notes either in gold or silver coin.
at his discretion, is stricken out and
finds no place in Mr.. Teller's amendment.
Section of the new law, which directs
the secretary of the treasury each
month to coin 100000 ounces of the sill
yer bullion purchased into silver dollars,
until July l, 1891, and after that time to
coin as much as may be necessary for
the redemption of the treasury notes tc
re issued, is changed so as to do away
with the time Limitation of July l, 1891
Thus providing for the actual monthly
coinage of 100000 Of silver, not only
during the next fiscal year, but for sue
ceeding years, unless congress in the
meantime makes some new requirement
A free coinage section is then ap
pended to the old law. This section
reads as follows:
Whenever the market price of silver is s
for 81 % grains of pure silver, it shall b.
lawful thereafter for the owner of any silve
bullion to deposit the same at any coinag
} mint of the United States, to be formed
into standard silver dollars for his benefit
as provided in the act of January Is, 1887
The purchase of silver bullion shall ceas
after the free coinage of silver shall hav
commenced.
y Mr.. Teller says of his proposition: I"
don't know whether or not anything will
!, come of it, but it will serve to keep tn
: administration and the treasury depart
: ment in line. If they don't treat II
9 fairly but antagonize silver, this will
o serve rs a notice that next winter W
= will pass another silver measure in tn
If senate. Free coinage was passed owe
o here and we will have the votes w
D. can secure majority ON the other side
: too, and the treasury department mus
- deal fairly with the law. They vii
ia know that we are watching matters"
,r Senator Stewart, Of Nevada, think
10 the treasury department has alread
is shown disposition not to act SQUARED
i by the law. He objects to the secre
"a proposals and wants to know why tn
10 government does not go in like an
= other bidder in the open market an
buy silver. That, he says, was VIII;
congress meant when it passed the Ia,
. and that was what should be done.
~ Still, there is every reason to suppo
:. that Mr.. WINDOWS silver operations W
:. be satisfactory until after election.