New-York tribune., 1890-06-06

.,d =, such not less than sl more tnsh
81 900 as he NAV prescribe and sum sufficient TO carry
o.. the uroylsions this act Is hereby Appropriated
ou. Of any money Treasury not otherwise approp
lted. , ,..o
Sec ? That Treasury notes issued IN aceoro'n.
with the provisions Of this aco shan DC feueemaoe on uc
. n coin at the Treasury OF the United States or at
49, e, - ov Assistant Treasurer OF the United States;
and when so redeemed be rcssued out no greater OF
lees amount Of notes shall be outSuhg ~ any tc
Pho, tho cos, Of the bullion then held In the Treas
80 ,.hosod nv such notes, and such Treasury notes
h ho loyal tender in payment Of all debts, public and
prlvate exert otherwise expressly supa'eo IN m
contract and shall receivable for customs taxes ana all
nl, dues and when received may be rcissued; and
n o,oe when held by any National banking associa
10, NAV be counted part Of its lawful reserve
po,.,isd Taat upon demand Of the holder Of any
Treasury notes herein provided Tor the secretary OF the
r.rrv may AZ his discretion. and under such regul1
-, 80 hc .hou nroscrbe exchange for such notes an
r,t of silver bullion which shall be equal IN value
At the market price thereof Oh the day o' eN''nsc 10
tho amount Of such notes presented
sec g. That the Secretary Of the treasury snail
coin such portion Of the silver bullion purchased under
,ho nrov.ons Of this may be necessary 70 pro-
vide for the redemption Of the Treasury hoe' hcr"in
poydod FOR and gain or seifnioiase ar,'ns from
ch coinage shall he accounted for and pdd INTO inc
Treasury. , , A.,
Soc That the silver bullion purchased under 'he
rovsons Of this act shall be subject to the requirements
- cxistlnq law aud the regulations OF IN" MINI service
oovcrninr the methods Of determining the amount oi
,nre silver contained. ana the amount o' oh"'s' Vi Va"
ductions II any, to he maze %
Soc J. That much 0f the act oi feoruaN 20
1878 entitled ''An to authorize the coinage OF the
,,oda-d silver dollar. and 70 restore s lceatehder
raroc,or ., A. requires monthly purchase and coin
go Of the same into silver dollars OF not less than
80 COO oOO nor more than 100000 worth o' siNer
bullion is hereby repealed
see q That whenever the market price OF silver, as
.d d, pursuance OF section / of this act. is II for
AT p51OO grains Of pure silver IL shall be a"u Tor nc
owner OF any bullion 10 deposit the same az any con"
are mint United states to be eohed INTO ahu"u
silver dollars for his beneht as proNiucu III '' | VI jan
uary Is. 1887.
Sec = That upon the passage ot THIS a'~ inc oA''
anccs standing with Treasurer Of the United states 70
the rcspccve credits Of National banks for deposits maze
u, rde, the circulating Of such banks. and all &C.
~ thereafter received Tor like purposes shall bo COW
crod into the Treasury miscellaneous receipt ana the
Treasurer Of United States shall redeem from INC gen
eral cash :he Treasury The circulating NOES "' S''
hanks come into his possession subject 70 IT,
,n,on and upon the certificate o the Controller oi the
Currency ,ha: such notes have been received by him. ana
that they have destroyed and that no ne" notes VIII
be ISSUED in their place reimbursement, of theI a"o'h
hall be made 70 Treasurer. under such regulations a.
,A Secretav ~ the Treasury prescribe. from an ap
uropration created to BE- known Naona BANK
notes redemption account the provisions ~ tl~ a'
sla not apply deposits received under section o
the act Of requiring every National bank to
keep IN lawful money with the Treasurer of the United
States equal % per contum o Its circulation 70
be he'd and fcr the redemption Of - cr'uahe h"
and the hllau'f REMAINING VI Nv "'V''''' ~ NN''''
shall at thc close Of each month be reported on the
moa.h public deb, statement a. debt OF he In' states
bearing no Interest.
sec S That thl. a.: .hsu eject thirty day'
from and after itsp1-sasc.
AMENDMENTS TO THE MEASURE.
Mr. McComas Of Maryland moved TO amend tho
substitute by adding to section q the woTs aud the
purchase Of silver bullion shall be suspended while
II IS being - deposited for coinage
Mr. Taylor ~ Illinois, offered an amendment 10 the
original biI providing that II The net amount Of silver
bullion receives, shall be less than - 100000 in any
one month the Secretary Of the Treasury shall on the
succeeding moath purchase 'uin''c"t amount !"
Sir O'Doaacu. oi Michigan. moved to amend the
amendment %, -uih.ns oHi f-'ooo'~oo ana in'e't"-
rh.. exhausted all the amendment, which can BE-
offered under tie ui.c, aHd. although VI. Bland wa
on III, feet demanding recognition. De "as ignored D>
Mr. Coaser Of Iowa. aid taat the time had come
WAcu something should Dee done that should Dee wise,
ipcr, yam .iVn and corr,cr.,u silver va,
and alvay~ mad been. one oi tie twin money metals
If the world. No legislation ,honh hc cnaotoi mt"
risk personal og National credit or prosperity. Al
general legislation must OF necessity BE- sort Of con-
promise the bill before the House today was no
cLUTcN ~afi- factory a. ever, Bat ths wa- tho
iH which tho majority believed would greatly imprlc
tie present condition Of affairs, and MAKE long stride
II Wotd add S5f.0Oo.OOO Treasury notes To- the
circulation every year They would immediately -
into csculaiion because Inc secretary pay for
The bullion with th"-c 3d. a. aui Vith uottn- cl.".
Ldrr The pre- cnt law the secretary might pas ~
the buInOn In any money ou hand. Under tl" pi"
!D-ed Iaw every ounce az silver purchased would h"
represented ~ paper c.rouat.0n Under the pfe'r {
- som much Of %" silver piled up ID the vault
without ANY representation.
lie believed I'm silver. and believed the country
should have free coinage az fixed ratio AZ the earliest
possible day but IL should be reached under con
dtious that Vcrc safe and permanent. rGer tine
present attitude of commercial nations toward silver
II neither wise -af' for this Government t.
7 attempt IL alOu" Free coinage lcrr meant That tn
/ Government alone would undertake T." lasc IN" prize
# the silver Of the world oucthird. and keep rr'
In his Judgment thi, could not be done without
financial disaster. We ought 10 got free coinage,
bat must have some other great commercial nation
iO!n with us In the effort. Ihi, bin long step
| toward free cO.n1Ce. Nr. CJngcr spoke Of a lobby
maintained by mine dcmindn. free coinage ot
silver Immediately. This not In the Interest of
bimctalism bat IN the interest Of SINGLE silver
standard. \ single silver standard would McAicaniLc
this country.
! Mr. Williams. II Illinois. spoke In favor # Tho
free coinage Of silver and confcndcd that gold dli
not have Il fixed value Its nominal value Wa. nNed
but IL relative value changed. While silver had fallen
when compared with gold It had not fnllcn when
compared with other commodities lie criticised the
features bl 0f the Secretary Of The Treasury and
argued IN favor OF placing the two metals parity
Nj Taylor. oi Illinois. In speaking In support of
thc bin denied the assertion that u effect would bc
~ demonciizc silver. rs effect 10 substitute
coinage law that would take N all the product of the
silver mines o the country for coinage Law that took
| M only a. 600 Oco month.
! Mr. Ianhain. ~ Texas, argued in favor of free
silver coinage and of rehabtatng the silver dollar
Pending further debate. the House adjourned until