, 1890-02-27
OBJECTIONS RAISED,
Plausible Explanations of
the Principal Provisions.
FARMERS WOULD Be BENEFITED
Principal Features of tho Proposed
Substitute Bill OF the Sen.
ate Comrnittoo.

wAsniSctos, reb. ci.-sccret.rv
Window appeared before the hous,
committee on coinage, weights and
measures to-day for the purpose OF hays
ing an Interchange OF opinion opt ~
subject ofslvrr coinpgc with mem Z y
OF the committee. v
Mr.. Window took up the objection,
raised against the bill. The Rrst dlhl.
Guilty was that Of excluding foreign orra
To NEE. this ho had prepared an amend.
m.nt to add ts tho first section. maxim
II the duty OF the collectors OF custom,
to stamp on every bar Of silver bullion
imported the word foreign II also
makes II the duty OF every nsiayor or
ronner In the United States, or any other
pcrsen or firm who may receive baI siI.
yer stamped foreign" in case such
bars are fcgmc.teh or refined, TO stamp
the resulting bars foreign" In cas-,
bars OF silver stamped foreign brs ~
.melied OF refined with the silver prod
uct Of the United States, IL shall 10 lhs
duty OF such assayor or relner TO sta up
on such number OF silvor bars n VII
bo equivalent to the amount OF the for
cign silver melted or refined tho word
''forcign." The Same rule shall apply
TO foreign silver coins,
Penalties aro provided for a failure 10
stamp the bars, or for removing hS
stamp TO prevent Identification. TlL
section shall not apply to silver o.
trsctsd from imported ores by tho proc
ess of smelling, amalgnmanon and
lixlyiation, or other motallurgleal proc
osses, In the United States
ConesrnIng tho objection OF the sixth
section, authorizing the secretary TO SUE
pend the receipt of silver bullion when
satisfied that the price Is arbitrary, the
secretary said that, so far as the specu-
lasiyo power was concerned, the powers
OF the secretary now were greater than
those conferred on him by the bill. II
the bill was passed the price OF silver
would, in his opinion, advance steadily
and rapidly. An excellent feature u
tho discretionary power vested IN
the secretary would be its detrimental
oiioet on speculation In silver and IL WAS
with reference 10 preventing this, rather
than the expectation Of using II, that he
proposed 1t. lie, however, would leave
II to the committee.
In speaking Of the objection TO the
bill that the making or commodity Of
silver would degrade Il from its high
use ns n money metal, che secretary
said that he thought this u sentimental
objection. His purpose was not TO do
grade silver but to bring Il up as nearly
~ he could to an equality with g3f
He was convinced that the mens ~
would meet all the needs Of the siTl>s
tion, without ondangering tho in,efcsls
OF the country, and would absorb tie
surplus silver, and thereby put up the
price certainly and rapidly.
In answer 10 a question by Mr.. Ton
ger, he said that there was not any
reasonable objection TO including god
in the nrst section OF the bill. To bep-
eilt the interests Of tho silver producsn
was not tho only motive In the Nll
lie believed In aiding everybody Of
fected by the measure. Hc thouGh
that the wheat raisers OF the country
were more interested than the silver
people, for tho farmers were beav
losers on account OF the depression n
silver, and the operation OF the Dill
would tend to raise the prices Of farm
products Fred coinage, Mr. Windom
said, would reduce silver below It's prss-
ent value. The present bill wonld ib-
crease the circulation of the country 70
the extent Of t26, 5000 annually.
fEATuREs or THE SUBSTITUTE BILL
The principal features OF the silver bill
which will be reported by the senate
committee on finance as q substitute for
the several bills ON that subject referred
to 1t, are stated to bc these: The secr-
tary Of tho treasury is authorized TO To-
crease the purchase Of silver bullion
from 100000 to "a, SOC. 900 n monY.
The requirement OF the present law, ttn
the coinage of silver be at n rate OF ~
stricken out. The secretary is alsoau-
ihorizod TO purchase gold bullion In %;
restricted quantities. Upon this gold
and silver bullion the secretary shall
issue treasury notes OF such donomInt-
tion as he shall see tit TO, to bo redeem
able In lawful money.