The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-06-06


portunity to pass the bill, which would take
all the silver bullion Of the United
States and utilize it for monetary purposes.
it was to give to the people not $1,000 900
per month, but s4,5O0,0 900 II the gentle
men on the other side wanted to vote on
free silver they could move to recommit
with instructions to she committee to report
back free coinage clause. The gentlemen
on the other side could not have been very
anxious for free coinage, when for four
years they had never even brought in a bill
from their committee. Talk about throt-
ting the bill of the majority by the minor
ity, why, one man at the white house
had silenced the majority in the Forty-nintb
and Fiftieth congresses. A single man,
elected to execute the laws and not to make
them, had commanded the majority to be
silent, and it was silent.
THE RESOLUTION ADOPTED.
The resolution was adopted, the vote
standing: Yeas 100, nays III. The repub-
licans who voted in the negative were:
Messrs. Anderson of Kansas, Bartine, Con-
nell, DeHaven, Featherstone, Funston,
Kelly, Morrow, Hermann, and Townsend
of Colorado. No democrats voted ia the
affirmative.
Mr. Blount changed his vote to the
affirmative and moved reconsideration.
Mr.. Mckinley moved to lay this on the
table. Mr.. McKinley's motion was agreed
to by vote of LA yeas to lis nays
THE CAUCUS BILL
The bill having been read, Mr.. Conger of
Iowa offered the caucus bill as a substitute.
1t is as follows:
Be it enacted by the Senate and House of
Representatives OF the United States of
America in congress assembled: That the Sec
rotary Of the Treasury is hereby directed to
purchase from time to time silver bullion in the
aggregate amount of 81, 500 900 worth of fine sill
yer in each month at the market price thereof,
not exceeding 81 for 81 25-100 grains or
pure silver, and TO issue in payment for such
purchases OF silver bullion treasury notes of the
United States, to be prepared by the Secretary
OF the Treasury in such form and of such de-
nominations, not less than 81 nor more than
$1,000, as he may prescribe, and a sum sufficient
to carry into effect the provisions of this act is
hereby appropriated out of any money in the
treasury not otherwise appropriated.
SEC. 2 That the treasury notes issued in ac-
cordance with the provisions of this act shall be
redeemable on demand in coin at the treasury
of the United States, or at the Office of any as
sistant treasurer of the United States and when
or less amount of such notes shall be outstand-
ing at any time than the cost of the silver
bullion then held in the treasury purchased by
such notes; and such treasury notes shall be
legal tender in payment of ali debts, public and
private, except where otherwise expressly slip-
ulated in the contract, and shall be
receivable for customs, taxes and
received mey be re-issued, and such notes when
held by any national banking association, may
be counted az part of its lawful reserve pro
Utded that, upon demand of the holder of any
of the treasury notes herein provided for, the
Secretary of the Treasury may, at his discre-
ton. and under such regulations as he may
prescribe exchange for such notes an amount
at the market price thereof on the day of ex-
change to the amount of such presented.
Sec 3. That the Secretary of the Treasury
shall coin such portion of the silver bullion pur-
chased under the provisions Of this act as may
be necessary to provide for the redemption Of
the Treasury notes herein provided for, and any
seigniorage arising from such coinage shall be
accounted for and pail Into the treasury.
SEC. 4. That the silver bullion purchased UNI
der the provisions of this act shall be subject
to the requirements of the existing law and
regulations of the mint service governing the
methods of determining the amount of pnre
silver contained, and the amount of charges and
deductions, If any to be made
SEC. 5. That SO much of the act of Feb. 2S
1878, entitled: San act to authorize the coinage
of the standard silver dollar and restore its
monthly purchase and coinage of the same into
silver dollars of not less than 81, 100000 nor
more than 100000 worth Of silver bullion, is
hereby repealed.
SEC 6. That whenever the market price of
silver as determined In the purchase ofSec Of
this act is 81 for 81 2510O grains of pure silver
it shall be lawful for the owner of any silver
bullion to deposit the same at any coinage
mint of the United States to be coined into
standard silver dollars for his benefit, as pro-
vided in the act of Jan. 10, 1887.
SEC z. That upon the passage of this act bal
anceS standing with the treasurer of the United
States to represent credits of national banks
for deposits made to redeem the circulation
notes of such banks, and all deposits thereafter
received for like purpose shall be covered into
the treasury as miscellaneous receipts, and the
treasurer of the United States shall redeem
from the general cash in the treasury the circu-
lating notes of said banks which may come into
his possession subject to redemption, and upon
certificate of the controller of the currency
that such notes have been received by him and
that they have been destroyed and that no new
notes will be issued in their place, reimburse
ment of their amount shall be made to the
treasurer, under such regulations as the Secre-
tary of the Treasury may prescribe from an
appropriation hereby created, to be known as
THE national bank note redemption account"
but the provisions of this act shall not apply to
deposits received under section of the act of
June 20, 1874. requiring every national bank to
keep in lawful money with the treasurer of the
United States a sum equal to per cent. of its
circulation, to be held and used for the redemp-
tion of its circulating notes, and the balance re-
manning Of the deposits SO covered shall, at the
close of each month, be reported on the
monthly public debt statement as debt of the
United States bearing no interest.
SEC. s. That this act shall take effect thirty
days from and after its passage.
SUSPENSION SUGGESTED.
Mr.. McComas moved to amend the SUBJ
stitute by adding to section the words,
''And the purchase of silver bullion shall be
suspended while it is being so deposited for
coinage"
Mr.. Taylor of Illinois offered an amend
ment to the original bill, providing that
if the amount of silver bullion received shall
be less than 81, 600, 900 in any one month
the Secretary of the Treasury shall, on the
following month, purchase sufficient
amount to supply the deficiency.
Mr.. O'Donnell of Michigan moved to
amend the amendment by striking out
$4,000, 600 and inserting S3,000,000.
This exhausted all the amendments which
could be offered under the rules, and
although Mr.. Bland was on his feet de-
manding recognition he was ignored by the
speaker.
Mr.. Conger took the floor, explained the
bill and stated what it was expected to
accomplish.
Messrs. Williams Of Illinois and Lanham
of Texas spoke in opposition to the bill, and
Mr.. Taylor of Illinois favored it. Pending
debate the House adjourned till IL o'clock
tomorrow morning.
Messrs. Featherstone and Vandevur, who
voted with the democrats on the first ques-
ton, voted with the republicans on the mo-
ton to table.
-x@H-nu NON mr1rr Try ammDr We