New-York tribune., 1890-06-12
SILVER IN THE SENATE.
AN AMENDED DRAFT OF THE HOUSE BILL
REPORTED BY THE FINANCE
COMMITTEE
CHANGES MADE TO MEET THE VIEWS OF THE
sFRIENDs OF sILvER"-MEasRS. EUsIiS
AND rURPIE SPEAKING oS THE
tBY TELEGRAPH TO THE TKIBcsE.I
JnNES BILL.

JONES BILL.
tBr ryLEoRArH TO THE TxIBCSEI -
Washington June 1.-The debate On the Silver
bill languished to-day In the Senate, only two bref
speechcs being made, both OF them by Democrauc
senators who favor free coinage. An Important
practicaI step was taken In committee however, toward
the accomplishment Of legislation on the silver
ouetion at this session Of Congress, Mr. Morrill, re-
porting by direction of the Committee Finance. an
amended draft Of the bill which passed the House ast
saturday The House bill Will now 60 on the calendar
and Friday when the time comes for voting on the
various propositions before the Senate Mr. Morrill, VIII
offer this modified version Of the House measure as a
suhsttute for the Jones BILL which has been under
dahate for the last month or six weeks II the Senate
accents this substitution and then indorses the BILL
the questions at issue between the two branches OF
Congress can no doubt be fought out to satisfactory
compromise in committee Of conference
The changes made in the House bill are all In the
direction Of harmonizng its provisions Win those Oh
the Jones measure. For instance the clause making
buIIon certificates legal tender for both public and
private debts stricken out, leaving them simply
receivable for customs, taxes and pubic dues Inc
bullion redemption feature is next dscarded ana the
notes are made redeemabe In coin or lawful money
The provision for free coinage OF silver whenever Me
market price shall reach 81 for 81 Ia gralns' also
disappears and, finally, limit OF ten years Is pun
upon the operation of the proposed act This last
amendment is an entirely new suggestion, ana may
not be insisted upon 1t is detail. at any rate' Oh
secondary importance. The abandonment OF the other
features however practically destroys the character OF
the House BILL eliminating, as it does all the points
on which the other branch Of Congress LAID especia
stress.
The bill has been amended, Of course, to meet. II
possible the views of the friends Of silver" who
are still open to reason. il 1t succeeds In this anu
the Republican Senators decide to accept the new
draft as party measure, a compromise which Will
concede at least Of the disputed points 10 Tie
Senate is likely to be made in conference committee
and new silver law will soon go into operation
But there is every indication that the extreme silver
men will accept neither the Jones bill nor the House
bill as amended but will hold out to the end for free
coinage There undOubted signs OF an under
standingn between the " friends OF silver on the
Republican side and the Democratic Senators, and
the combination threatens to develop more thah
enough strength to beat the Finance Commuters
hills and to commit the Senate to the free coinage
scheme.
So far only two Democrats-Messrs Mcpherson and
Gray-are known to be opposed TO free coinage. Even
Mr. Payne of Ohio generally so conservative on I'M
portant questions said to have promised his vote
TO the combination and as Mr.. Gray is absent from
Washington, his opposition, too may be countcd
upon as neutralized. on the Republican side, prob
ably eight or nine Senators-chefy from the mining
states-are expected to stand out against the party
programme The opposition may not hold together
through Friday and Saturday, but 1t looks deter
mined and defiant at present. II the Senate passes
a Free Coinage BILL there will be an end at once TO
the hope of silver legislation during this session
The House is not likely to yield on that point under
any circumstances.
Tho two sneakers today on the Silver bill were
Messrs Eusts of Louisiana, and Turpie OF Indiana
Roth were commercially brief In the statement OF
their Views. .. U.s. !.
Mr. Euss believed that actual experience in regard
to the coinage Of silver dollars was OF mucn more
value and weight than any abstrise doctrines ana
superine theories any played-out maxims on hnahce
or any vaticnatons Of Senatorial soothsayers OF whch
the Senate had had such abundance. He con-
sidered that the proposition for the free coinage OF
silver was simply extension OF the e2stins system
of finance. The American people had tried the ex-
pertinent and were satisfied with 1t, and they Simply
demanded that that experiment should be developed
and extended
He divided his consideration Of the question into
three periods: 1873 when the Bland bill was passed
over the Presidents Veto the period OF the Cieve
land Administration, which was openly ana Doidiy
in favor of the demonetization Of silver, but wmch
met opposition of its own party In congress, anu
that of the present Administration, which had rec
ommended the outlines of Mr. WINDOWS proposition
and had given halfpromise that II wouid conmuni.
cate further with Congress on the sunlect-am a. mar an
cIared that Executive pretensions, Executive resist
ance and Executive obstruction should oe over'hroWn M
by the popular Will, represented III ConsT''t Ny
Window in Associated Press nterview ana char
acterzed as preposterOus and absurd Mr.. Wlndoms
that the balance of trade might be against
The United states, in which gold would be drawn
from the country. Mr.. Eustis could imagine oniy
ona contingency In which the balance Of trade could
turn against the United States: That contingency
was that by the passage of high protecuve laws, Iis
country was declaring Industrial war against England
France and Germany, and that those countries might
accent the challenge and say that II the Ameriean
nolicv he a policy of non intercourse. they would ac-
cept IT, and would tax American cereals ana cotton
and beef. ,,. so. .,ro
reasons First because would increase the currency
and secondly, because it would add greatly 10 te Haiue
of silver, an American product. lie was Hluch IN III
cined to favor the plans spoken Of by the recent Pan
American Congressan international agreement 20 con-
dollar that should be legal tender and Standaiu OF
vaIne current In all the three Americas tie Deneved
thar such dollar would do much toward making closer
IND more profitable relations of commerce and ex-
Change that ought to exist all the free peoples
of the American continent. Besides ulat 10 Wonu
have direct tendency 10 appreciate silver IN all the
markets of the world.