The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-07-08
COMPROMISE ON SILVER
THE MONTHLY PURCHASES FIXED
AT 100000 OUNCES.

me agreement Fetched Up at a Meet
ing of the Republican Members of
the Conference Committee - The
Democratic Members Refuse to Sign
the Report
WASHINGTON, July 7.-Boss Reed got
back and pushed the conference on the sill
yer bill to decision this afternoon. But it
was not the decision that he desired, and he
sco.ded Chairman Conger of the House con-
ference when he reported it to him. The
fact is that the silver mon practiced Speaker
Reeds own trick and bluffed and bulldozed
till they got all they expected to get. They
found this morning that the conferees. under
Speaker Reeds directions. were disposed to
bring in Reed report. Thereupon they
showed their teeth by defeating Senator
Morril's motion to take up the tariff bill in
the Senate.
THREAT.
This was notice to the republican man
ayers that they must give the silver men
what they wanted or delay the considering
of all important legislation. The Senate
republicans took the hint and forced silver
report from the conferees greatly to the
disgust of Speaker Reed. But Speaker
Reed for once seemed helpless, and the COM
promise, so-called, in which the silver men
get their original demands, including the
purchase by the government of what they
have said is practically the full silver
product Of the country and the clause
making silver certificates legal tender,
which Speaker Reed says is worse than free
coinage.
THE FREE COINAGE AMENDMENT
OF course, the free coinage amendment
was not intended to pass. It was only in
tended to force the so-called compromise
finally agreed upon in conference to-day.
This report has not been adopted yet.
There may be some trouble over it, but it
will finally be adopted. Messrs Harris
and Bland, the democratic members of the
conference committee, would not sign the
report because they had not been invited to
any of the meetings of the committee until
the republicans, Reed fashion, had agreed
on a report.
Speaker Reed is disgusted with the uncer-
tainty among the republican senators as to
what they will do with the tariff bill and
the election bill, In such sharp contrast
with the comparative certainty as to what
the House will do with any measure which
its speaker approves. What they need
over at the other end of the capitol" he is
reported to have said, sis boss with
backbone"
HOW 1T WAS BROUGHT ABOUT.
by the associated PresS.)
WASHINGTON, July THE conferees on
the part Of the two houses this afternoon
reac he'd an agreement on the points of diff
ference on the silver bill. The result, which
was hardly expected to be reached SO soon,
was brought about in this way: After the
first Intellectual conference last Thursday,
the republican members decided that an
agreement could be more speedily and salts
factorily reached by a party consultation
rather than in a conference open to both
political parties
DRAFTING A COMPROMISE.
Accordingly Senators Sherman and Jones
and Representatives Conger and Walker
entered upon the task of drafting COM
promise measure. They progressed so
rapidly in this matter that the conference
substitute was completed in all its essential
points save one and sent to the printer yes
terday. The one point left open related to
the amount of silver bullion to be pur-
chased. Messrs. Sherman, Conger and
Walker thought that 100000 ounces
monthly would be a fair compromise, but
Senator Jones declared for 4,500, 900 ounces.
THE WESTERN MEN FIRM.
Such was the state of affairs this morning
when overtures we're again made to SEN
ator Jones to accept $50, 900 ounces. The
western senators were in receipt of tele-
amount of 100000 ounces and to insist
| upon the speedy disposition of the bill So
| the overtures were rejected, and when
proposition was made to take up
The tariff bill in the Senate this
afternoon the silver men manifested
their power to check the flow of party legis-
| lation unless their demands were met Soon
| afterward the republican members of the
| conference were again called together, the
| words, "Five hundred thousand" were
| added to the 4, ,000. 900 ounces contained in
| the printed conference substitute, and the
agreement was completed.
THE REPORT TO THE SENATE.
Senator Sherman spent few minutes in
drafting the formal report to the Senate
and then notified the democratic members.
| Senator Harris and Representative Bland
| (who happened to be In the Senate chamber)
| that another conference was to be held
| This time the conference committee was in
session half an hour. The agreement was
| formally ratified, although the democratic
members refused to sign the report. Seha-
tor Sherman presented the report to the
Senate this afternoon, and gave no
tice that he would call it up for
| action tomorrow. AS the report
must be acted upon by the Senate before it
can be considered in the House Chairman
| Conger, who will make the report to the
| House, could not say when it would be pre-
sented to that body, but is disposed to have
speedy action. He is well pleased with the
outcome Of the conference, as, indeed, is
every one connected with it except the
| democratic members.
TEXT OF THE SUBSTITUTE
| The substitute reads as follows:
SECTION 1. That the Secretary Of the Treasury
| is hereby directed to purchase from time to
| time silver bullion to the aggregate amount Of
| 4, 500, 900 ounces or so much thereof as may be
offered in each month at the market price
thereof not exceeding 81 for 81 and
| 25-100 grains of pure silver, and
| to issue in payment for such purchase silver
bullion treasury notes of the United States to
| be prepared by the Secretary of the Treasury
| in such form and of such denominations, not
| less than 81 or more than 500, as he may pre-
scribe, and q 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 treas
ury of the United States, or at any Office of any
assistant treasurer of the United States, and
when so redeemed may be reissued but no
| greater or less amount of such notes shall be
| outstanding at any time than the cost of the
silver bullion and the standard silver
dollars coined therefrom then held in the treas
| ury purchased by such notes, and such treas
ury notes shall be legal tender in payment Of
ali debts, public and private. except