Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1890-12-18
The Republican Senatorial Caucus
Agrees Upon the General Features
of a Money Bill.
1t Practically Provides for the Free
and Unlimited Coinage of
Silver.
The Increased Demand for the White
Metal, it is Expected, Will Raise
Its Price.

WASHINGTON, Dec. 15.-The republic
can senatorial caucus committee today had
a long consultation with Secretary VIM
dom respecting the formulation of fnan-
cial relief measure. The various PROPOSE
tions contained in the Sherman and Plumb
bills were taken up. The secretary en-
dorsed the proposition to Tednce the COM
pulsory holdings of United States bonds
by national banks and commended the
purpose to issue two per cent. bonds.
In regard to the proposition to purchase
the existing surplus of silver bullion now
in tho country, Secy Window took posi-
tive grounds IN favor of the purchase as a
means of enhancing the price of silver and
relieving the financial stringency He
suggested, however, that he might be
prudent to restrict by law the amount of
this surplus silver purchased in any one
month. The caucus committee referred
his suggestions to the subcommittee,
consisting of Messrs. Sherman, Allison.
Aldrich Plumb and Teller After DELHI
Grafton the subcommittee reached de-
cision, which wss promptly ratified by the
full committee and will be submitted to
the caucus tonight If the shape of bill
to be drafted by Mr.. Sherman.
The main features will be; provision
for the purchase of 1000, 900 silver sur
plus within one year not to exceed So, 000,-
900 worth any one month I'm the. addition
to the purchase of four and half million
ounces per month now required by law.
The issue of two per cent. bonds not to
exceed 100000 900 in amount and the
purchase of sufficient silver bullion Tin
addition to the foregoing requirements
to make good the deficiency in
the national bauk circulation
whenever that circulation falls
below SIS0,000t by means of the issue of
treasury notes based upon the bullion thus
purchased) In case the bullion is insult
ticient in amount to meet this deficiency
and cannot be obtained, the deficiency of
the circulation will be made good by the
issuance of ordinary treasury notes. In
addition the bill contains clause provid-
ing that when the price of silver shall
for one year remain constantly at
or above legal par" with gold, any
holder of bullion may deposit it
with the treasury and have it coined into
standard silver dollars or receive treasury
notes therefor.
While the committee neglected to take
my HftNAlt' deAith upon tht subItNb VI
reducing the amount of the compulsory
holding OF United States bonds by the
national banks, all tie members appeared
to be in favor of legislation for that pur-
pose.
The report did not meet with the unan-
imous approval OF the committee or sub
commi ttee In eyery part
LATER-The republican senatorial eau
Gus tonight discussed tho report the caucus
committee agreed upon today. The two
per cent. bond project found few friends
and was quickly knocked out The twelve
million brllion purchase seemed to have
great strength, but neither on
that nor on other propositions was
final action taken. A great deal of
discussion, which may be summarized as
indicative of a willingness of a strong
majority Of republican senators TO con-
siderably enlarge the monthly purchases
of silver bullion, possibly to the extent of
six or seven million dollars. Another eau
Gus will be held soon. The election bill
was not mentioned tonight.