Fisherman & farmer. [volume] (Edenton, N.C.) 1887-19??, 1890-06-27
FREE COINAGE.
The United States Senate Passes
a Silver Bill.
The Result Effected by a Com
bination of Both Parties.

United States Senate, at Washington, by
combination of Western Republicans AMI
Democrats; the vote was ~ to %
Fifteen Republican Senators-all but one
of them from the States of the Far West
joined with the Democratic minority TO de
feat the legislation proposed by the Treasury
Department the House of Representatives
and the Senate Finance Committee.
The successful combination was headed on
the Republican side by Mr.. Plumb, of Kan
sas and Mr. Teller, of Colorado and on the
De nocratic side by Mr.. Reagan, of Texas.
The friends of limited coinage were taken
by surprise Senator Edmunds sharply
criticised his associates for allying them
selves with their opponents. bitter debate
followed. The galleries were filled with
spectators, and on the floor were many Con-
gressmen, including Major Mckinley, Major
Butterworth and Messrs Payson, Carter AMI
Mills.
The struggle in the Senate continued for
nearly 1--WE hours, and was marked by two
interesting and noteworthy features. The
first of these was the eloquent and somewhat
sensational speech of the young Senator
from Colorado Mr. WOlcott: the second was
the sudden determination of Mr.. ingalls, not
to make his advertised speech.
The vote on the passage Of the bill was -
yeas, % nays, as follows:
Yeas-Messrs Bate, Berry: Blodgett, But
Ter, Call, Cameron. Cockrell, Coke, COlquitt,
Daniel, Eustis, George, German, Harris
Hearst, ingalls,, Jones ark, Jones New,
gan, Paddock, Pasco, Payne, Pierce, Plumb,
Power, Pugh. Ransom, Reagan, Sanders,
Squire, Stewart, Teller. Turpie Vance, Vest
Voorhees,, Walthall, WOlcOtt-t2.
Nays-Messrs. Aldrich, Allen. Allison,
Blair, Casey, Chandler, Cullom, Dawes, Ed
Hiscock, Hoar, Mcpherson, Morrill,, Platt
Sawyer, Sherman, Spooner, Stockbridge
Washburn, Wilson md )-25.
The following is the text of the bill as it
now stands:
SECTION THAT from and after the date
of the passage Of this act the unit of val,1e i'll
the United States shall be the dollar, and the
same may be coined of four hundred and
twelve and One-half grams OF standard silver
or Of twenty-five and eight-tenths grains of
standard gold: and the said coins shall be
legal tender for all debts, public OF
private; that thereafter any owner Of silver
or gold bullion may deposit the same at any
mint of the United States To be formed in
standard dollars or bars for his benefit and
without charge; but it shall be lawful to re-
fuse any deposit Of less value than one hun
dred dollars any bullion 50 base as to be
unsuitable for the operations Of the mint.
SEC. 2.-That the provisions of section 3 of
an act to authorize the coinage Of the stand
ard silver dollar and to restore its legal ten
der character, which became law February
20, 100, IS hereby maze dDDIlcaDle TO the
coinage i'll this act provided for.
SEC. 3.-That the certificates provided for
in the second section OF this act and all silver
and gold certificates already issued shall
be of denominations OF not less than
one more than 500; and such
certificates shall be redeemable in coin
Of standard value. A sufficient sum
to carry out the provisions Of this act
is hereby appropriated out Of any money in
the Treasury not otherwise appropriated.
The provision in section one of the act of
February %, 1873, entitled An act to au-
thOriEe the coinage of the standard silver
dollar and to restore its legal tender char
acter," which requires the Secretary OF
the Treasury to purchase at the market price
thereof not less than two million dollars
worth of silver bullion per month, nor more
than four million dollars worth per month Of
such bullion is hereby repealed.
SEC. 4-That the certificates provided for
in this act and all silver and gold certificates
already issued shall be receivable for all
taxes and dues to the United States of every
description and shall be a legal tender for
the payment of all debts, public and private
SEC. 5.-The owners Of bullion deposited
for coinage shall have the opportunity to
receive coin or its equivalent in the certi-
tcates provided for in this act; and such
bullion shall be subsequently, coined.
SEC: 6.-That upon the passage Of this act
the balances standing with the Treasurer OF
the United States to the respective credits
of national banks for deposits made to re-
deem the circulating notes OF such
banks, and all deposits thereafter received
for like purpose shall be covered in the Treas
ury as miscellaneous receipt. and the Treas
urer of the United States shall redeem from
the general cash in the Treasury the circu
lating notes of said banks which NAV come
into his possession subject to redemption.
and upon the certificate of Comptroller of
the Currency that such notes have been
received by him and that they have
been destroyed, and that no new notes
will be issued in their place. reimbursement
or their amount shall be made to the Treas
urer under such regulations as the Secretary
OF the Treasury may prescribe, from an
appropriation hereby created. to be known
as National bank notes; Redemption &C
count" but the provisions of this
act shall not apply to the deposits re-
celved under section of the act OF June 20,
1874, requiring every national bank to keep
in lawful money with the Treasurer of the
United States sum equal to five per
cert. of its circulation, to be held and
used for the redemption of its circulating
notes and the balance remaining of the de-
pOsits so covered SHALL at the close of each
month, be reported on the monthly public
debt statement as debt of the United States
bearing no interest.
The title of the bill was amended so as to
read:
An act to provide for the free coinage of
gold and silver bullion and for other pur-
poseS.>
Washington specials stated that the House
would not be likely to agree to the Senate
bill