Daily tobacco leaf-chronicle. (Clarksville, Tenn.) 1890-1895, 1890-12-10
Free Coinage Argnment.

Free Coinage Argument.
The advocates of free coinage are
using the situation to press their de-
mands for the legislation that they in
sist will solve the problem. The presi-
dents policy, as declared in his mes
sage, not to approve of free coinage un-
til there is an International agreement,
has been taken in the seriousness which
such proposition commands, and
knowing the power which can prevent
the passage of any financial measure at
this session not conforming to the pres
ident's views, the silver men ARE now
said to be willing to take free coinage
on his conditions A bill which will
make a provision for unlimited free
coinage depend upon an agreement with
foreign powers has been prepared, and
will form the subject of negotiations
looking to its acceptance by the presi-
dent. 1t is believed, or at least it is
urged, that with such a law enacted the
United States can make he&dway which
will have a successful termination.
There have been. several conferences
of Legislators and leading eastern bank
ers within the past few days where the
gravity of the situation was discussed.
What the bankers want is legislation
that will restore confidence. They say
| they have plenty Of money, but they
dare not let it go, not knowing what
may happen.
One plan which meets with much
favor is to provide for the immediate
absorption of the surplus silver in the
country This will stop the promotion
of speculation i'll that metal Second,
the issue of large amount of legal
-,
or an amount to be regulated by cir
cumstances; and. third, to fix a return
to free coinage after SIX months, to be
proclaimed by the president, if, in the
meantime, France. Germany and Italy
shall have come to an agreement with
the United States, and silver is at par.
That something will be done is pretty
certain where all minds are agreed
upon the necessity for action.
The amount of four-per-Cent bonds
accepted Monday under the circular of
Dec was S4 ,09l 900, for which a dis
bursement of about $5, $50, 900 in money
will be made. The secretary of the
TREASURY said Monday afternoon that in
view of all the conditions, he would ac-
Cept additional offers of fours at a rea-
sonable price of sufficient amount to
make the total purchase SS,O00,0O0, for
which he said the expenditures will be
nearly sic, 100000. The secretary said
| further that it was manifestly impossi-
bic, under existing conditions, for him
to use the fractional chrrency now in
the treasury in the purchase of bonds,
for the reason that it would Mt once be
returned to him in exchange for green
backs, and then leave him with a de-
| ficiency instead of Il surplus. There is
now about S19, 200, 600 of fractional cur
rency in the treasury, Of which all but
| S.. .0GO. coo is in silver half dollars. As it
| is legal tender to the amount of $40
| only. it is not regarded as part of the
available cash balance. The secretary
said he would like very mach to get it
into circulation, but that he certainly
should not do so at the expense of his
limited available surplus
Two Bills introduced.
Monday Representative Bland, of
Missouri, introduced a bill authorizing
the secretary of the treasury to prepare
a new series of legal tender notes or
greenbacks. which, when the ordinary
revenues of the government are not
| sufficient TO meet its requirements, he
| Is TO pay~out in sufficient sums TO meet
all demands and dues
| Representative Stewart Of Georgia,
| introduced a resolution. promised with
a statement that there exists in the
country financial crisis affecting most
| iniuriously its business interests, and
referring to certain of the methods OF
relief suggested, instructing the com
mittee on banking and currency to con-
slider this condition, and report by bill
/ or otherwise such measures Of relief rs
shall meet present conditions.
Tobacco aTen Surprised ana Pleased.
The prompt passage by the house Mon
day OF the bill directing the secretary Of
the treasury II pay the Sehate on lIiitTaIs-