Passaic City record., 1890-06-19
FREE COINAGE.
The United States Senate Passes
a Silver Bill.
The Result Effected by a Com
bination of Both Parties.

A free coinage silver bill was passed in the
United States Senate, at Washington, by a
combination of Western Republicans and
Democrats; the vote was 40 to 25
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
Democratic 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. A 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 and
Mills.
The struggle in the Senate continued for
nearly five hours, and was marked by two
interesting and noteworthy features. The
first of these was the eloquent and somewhat
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 AZ
| yeas, % nays, as follows:
Yeas-Messrs. Bate, Berry, Blodgett. But
Ter, Call, Cameron, Cockrell, Coke, Colquitt
Daniel, Eustis. George German, Harris,
Hearst, Ingalls, Jones lArk.l, Jones New,
Kenna, Manderson, Mitchell, Moody, Nor
gan, Paddock, Pasco, Payne Pierce, Plumb,
Power, Pugh, Ransom, Reagan, Sanders
Squire, Stewart, Teller, Turpie, Vance, Vest,
Nays-Messrs. Aldrich, Allen, Allison,
Blair, Casey, Chandler, Cullom, Dawes, Ed
munds, Evarts, Frye Gray, Hale, Hawley,
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 value in
| the United States shall be the dollar, and the
same may be coined of four hundred and
/ twelve and one-haH grains 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 or
| 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 less value than one hun
dred dollars or any bullion so 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
%, 1873, is hereby made applicable to the
coinage in 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 or more than 500; and such
certificates shall be redeemable in coin
of standard value. 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 IS 1875 entitled IAN act to au-
thorize the coinage of the standard silver
dollar and to restore its legal tender char
ecter," 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 legal tender for
the payment of all debts, public and private.
SEC. 5.-The owners of bullion deposi..-1
/ for coinage shall have the opportunity to
receive coin or its equivalent in the certi-
ficates provided for in this act; and such
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-
| latipg notes of said banks which may come
| into his possession subject to redemptios:
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 new notes
will be issued in their place, reimbursement
of 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 ac-
count" but the provisions of this
| act shall not apply to the deposits re-
ceived under section 5 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
| cent 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:
IAN 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.
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