Evening capital journal. (Salem, Or.) 1888-1893, 1890-04-24
FREE SILVER MEN WIN.
Bullion Certificates Redeema-
BILE in Lawful Money.
MONTHLY PURCHASES OF METAL.
Notes 10 be Receivable For all Dues to
the Uulted States.

WAsHINGToN, April %. Special
to the Portland Oregonian--The re-
publicans of the house and senate
have agreed upon basis for the
preparation of a silver bill. The
agreement is in harmony with the
measures adopted by the senate eau
Gus committee, with an important
amendment. The bill provides
that the secretary Of the treasury
shall purchase from time to time
silver bullion to the aggregate
amount of 4,5O0,OO0 ounces of pure
silver each month, at the market
prices thereof, not exceeding 81 for
81. % grains of pure silver a1d issue
in payment treasury notes of the
United States, to be prepared by the
secretary in such form and such de-
nominations, not less than 81, nor
more than 1000, as he may prescribe.
The treasury notes issued will be
redeemable on demand, in lawful
money of the United States, at the
treasury or by any assistant treas
urer, aud so redeemed may be re-
Issued, but no greater or less amount
of such notes shall be outstanding
at any time than the cost of silver
bullion then held in the treasury
purchased by such notes, and such
treasury notes shall be receivable for
customs, taxes aud all public dues,
and when so received may be re-
issued, and such notes when held by
any national banking association
may be counted as part of its law
full reserve.
Provided, that upon the demand
of the holder of any of the treasury
notes provided for, the secretary
may exchange for such notes an
amount of silver bullion which is
equal in value at the market price
thereof on the day Of exchange to
the amount of such notes. The sec
retary of the treasury shall coin such
portion of the silver bullion pur-
chased under the provision of this
act as may be necessary to provide
for the redemption Of the treasury
notes provided for, and any gain or
seigniorage arising from such COIN
age shall he accounted for and paid
into the treasury, Silver bullion
purchased under the provisions of
the act shall be subject to the require
ments of the existing law and the
regulations of the mint service gov
erning the methods of determining
the amount of pure silver contained,
and the amount of charges of de-
duction, if any, to be made.
So much of the act of February
2S, 1873, entitled can act to author
ize the coinage Of the standard silver
dollar and restore its legal-tender
character" as requires the monthly
purchase and coinage into silver dol
lars of not less than $2,O0O,0O0 nor
more than 81, 900, 900 worth of silver
bullion is hereby repealed. This act
shall take effect thirty days from
aud after passage.
Senator Teller, of the sub-cOIn-
mittee, dissented. Later me said he
would make an effort to secure free
silver coinage. Failing in that he
would accept the next best thing he
could get. When the measure came
up in the senate he would move to
make the certificates legal-tender.
AT the republican caucus tonight
the silver bill, given above, was
adopted with but few dissenting
votes, the obiecting members oppos-
ing the bill because of its failure to
give the full legal-tender quality to
the treasury notes specified.
In addition to the provisions of
the bill already stated, it is provided
that money now held in the treas
ury to redeem national bank circu-
lation in case of liquidation of banks,
banks reducing circulation, ETC., is
to be covered into the treasury.
This fund is estimated at about $751;
900, 900, which will be restored TO
the circulation.