The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-12-12
SILVER LEGISLATION
Considered by the Republican
Senators in Caucus.
WINDOWS LAST MONETARY PLAN.
1t Contemplates Issuing Notes on the Sub
sidiary Coin in the Treasury-National Sill
yer Committees Address to Congress.

SlQlafy Coin In the i Observation-Disclosures oiI
yer Committees Address to Congress.
WASHINGTON, Dec. 11.-[Special tele-
gram to THE HERALD. The special Senate
committee Of eleven appointed at last
nights Republican caucus TO consider some
measure of relief for the existing financial
situation will hold their first meeting to-
morrow The original proposition for a
committee of this character came from
Senator Plumb whose caucus resolution
contemplated a membership of seven.
Mr. Hiscock, of New York, offered a
substitute fixing the number to be com
posed of the six members of the finance
committee-Messrs. Morrill,, Aldrich Sher-
man, Hiscock, Allison and Jones, and five
others to be selected by Mr.. Edmunds, the
chairman of the caucus. This suggestion
was apparently mora in harmony with the
spirit of the meeting than the proposition
advanced by Mr.. Plumb and it was accord
ingly adopted. The five additional or
advisory members were appointed to-day,
consisting of Messrs. Plumb, Mitchell, Nc
MILAN, Hale and Power.
The makeup of the committee is emf
nenty fair. Its personnel embraces such
pronounced silver men as Plumb, Jones,
Mitchell and Power. The anti-silver
men, as the representatives of the eastern
thought upon the subject may be termed,
are Aldrich, Sherman, HiscocK and Nor
rill. The balance between these opposing
factions is very evenly maintained IN the
persons of Messrs. Allison, Hale and Me
MILAN, who are known, for want of bet
ter term, as moderate silver men. The
complexion of the committee on the whole
is rather more favorable TO the silver inter
ests than otherwise. Mr. Hale, coming
from an eastern state, would be presum
ably an opponent of silver, and he so
proved himself when the bill passed the
Senate on the 18th Of June last. But Mr..
Hale at ell times represents Secretary
Blaine's wishes on the floor Of the Senate,
and Mr.. Blaine just at present is coquet-
ting with the silver people. Mr.. Blaine is
not silver man at heart, but he is again a
presidential candidate, and as such he pur
poses keeping in line with the popular SEN
timent upon that subject. AS between the
two opposing forces, Mr.. Hale will
probably vote with the free coinage
men If he does not his action
will show that upon so important sub
| ject he is more mindful of his constituents
interests than of his political godfather.
Mr. Allison also voted against free coin
age, but he too is believed to have shifted
his position somewhat during the past few
months and if this be true he is likely to
stand with the west as against the east, if
he shall find nc middle ground between the
extremes.
No one will predict to-day what conclu-
sion the committee will reach. The con
servatives will claim that there is no need
of legislation by Congress to relieve the
financial stringency. Their position will
be that the treasury bond purchases are
the best means of lettering the situa-
ton that can be devised, that this policy
does not require action by Congress.
They will also undertake to show thatif the
administration wants to go back to the
policy of turning the government receipts
into the national banks it can do so without
waiting for legislation abolishing the sub
treasurer AS to minor bills, like Sherman
proposition to increase the national bank
circulation, no objections would be made il
that bill alone could be passed. But il
can't, and sooner than encourage other
financial legislation, the conservative
Senators will discourage all congressional
, action. Senators Morrill, and Aldrich, of the
finance committee, have made up theil
minds that the best thing to do is to d.
| no
the New York banks, but he understand
fully the difficulty of securing moderate
legislation. Senator Sherman wants all hi
financial schemes, including the $780, 000, Co
of inter-convertiole 2 per cents. But if HI
can't have the country take his own med
! icine. he dlstrusts the prescriptions o
9 everybody else. On the other hand, tn
3 extreme western men who will represen
y the demand Tor legislation of an ultra char
: acter, one intensely aggressive. Those o
them who few months ago were Willing
to compromise on a bill directing the secre
tary of the treasury to purchase 100000
ounces of silver said to be now in the MAJ
ket, and thenceforth confine the purchase
y to the products of American mines, hav
: decided not to stop here. Tomorrow the
will present their ultimatum for the pun
chase of all the silver in sight and tn
r issue of bullion certificates for it. This
e of course, is practically free coinage.
: 1t is possible plan may be matured q
n tomorrow's meeting, but this is unlikely
Should the committee come to some agree
ment between now and Monday, anothe
9 Republican caucus will be held tina
9 evening TO secure the full party opinio
= upon it, Senator Aldrich, who is th
= strongest and most active personality o
r the finance committee, is unalterably OF
posed to any legislation by Congress with
n view to relieving the present situation
The men who are urging this course arr
Q as he says, the most determined opponent
% of paternalism, yet legislation of tn
ID character is the worst form of paternalisn
What is most desired now is confidence C
20 the part of the business publ
This once restored, the situation wou
1T speedily right itself. But this cannot |
restored, he tells me, so long as the gree
money centres are threatened with fir,
coinage legislation at this session of Con
:. gress. The uncertainty as to COMPRESSION
action is the most potent factor in I'll
4 pending difficulty. Eliminate that and
i'd long step forward will at once have be-
taken Those of course are the sentimen
!, of an eastern 'goldbug," but they are int
esting as showing the drift of feeling upt
80 the subject among certain element of Il
:, national legislators.
j.. WINDOWS Latest Monetary Measure.
V. WASHINGTON, Dec. 11.-[Special telegra
~ H.. ,,lor fo