Evening journal., 1890-06-03
ONE CENT
GOSSIP OF THE CAPITAL.
Senator Morrill's Argument
Against Free Coinage.
SENATOR pLuMD's SILVER EILL.

Secretary Noble Denies a Rnmor That
He Intends Resigning from the Cabinet
to Take Railroad Position Other
Capital News Notes.
WASHINGTON. June 3.--When the silver
bill was taken up in the senate yesterday
Mr. Morrill, said that Mr.. Jones and the
other followers Of the new silver gospel
were too far reaching. They wanted all
the silver coined at government expense,
and wanted also the treasury note eertiii-
Gates to be a legal tender for al debts,
public and private. They wanted the
treasury reserves 60 be cut to ten millions
the hundred millions held for redemption
Of legal tender notes to be reduced one-haif
and finally they wanted free coinage forall
American silver and all brought in from
other countries. The government should
stand the per cent. cost Of coinuge. and
bullion depositors should receive all the
difference il value between bullion aud
standard dollars
Mr. Morrill, believed that il the wage
earners os the country, the most numerous
creditor class and the largest IN amount,
were pail off ia deprecated standard
money and then made to pay higher prices
for all purchases there would be at an
early day any number Of strikes for higher
wages He wanted bi-metalic standard
to be maintained and ~ sufficient amount
Of silver utilized through careful legisla-
ton lie did not want the United states
divorced from the commercial world. X
the country wanted "A single standard 10
should be gold rather than silver. But
both could be kept, silver being made TO
advance a good deal and gold reduced
somewhat until purity in value was
obtained
senator riumb's silver Bill.
A bill introduced by senator Plumb aud
announced by him TO be the work Of Mr.
ST. John. of New York, is the same as the
bill introduced by the senator last week,
with the addition Of the following section:
That whenever the president OF the United
States shall be authoritatiyely advised that
the mints Of France. Belgium and Italy
are open for the coinage of their full tender
silver money as free from all limitations,
charges aud restrictions as Tor their gold
and upon the valuation for gold and silver,
which is now known as the Latin union
coinage ratio, 1t shall be the duty OF the
president to issue his proclamation forth
/ with emhodying the following provisions,
which shall have all the force and ELECT OF
a law Of the United States, namely;
Directing the secretary Of the treasury
to forward at once all further issuing Of
silver certificates and to require that any
OF the snme in the treasury Of the United
states shall be Cancelled and destroyed
no devise a new dollar coin Of the United
States which shall contain 900 grains oi
standard silver, and be a full tender for all
public debts and far all private debts, ul
less otherwise specified in any contract
and 20 cause the same TO be coined 70 ths
utmost capacity Of the lnints of the United
States. limited only by his legal discretion
MS to the coinage Of gold, until 3OO,OO0,00l
OF the new standard dollars shall be coined
and not fewer than 2O0O,0OO Of the sam'
monthly thereafter.
On and after sixty days from the date o
the said proclamation 20 purchase on de
mand Of the holders Of the same all out
standing silver dollars of the present stand
ard weight and all outstanding silver cen
tilicatos of the United States al n premium
Of three cents on the dollar Of each, viii
the issue Of the hereinheiorep provided note
Of the United States I'M payment of tn
same
And, on and after the date of the sai'
proclamation, 10 iN the utmost limit o
price for the purchase Of silver under th
provisions OF this act at 81 for 800 grains o
fine silver.