Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1890-06-06

month to the sidow OF rear admiral Edward
Donaldson, and the widow of Commander
Wiuslow of the Kearsarge.
The Senate al j 80 adjourned.
| The Silver b.4l ia the House.
| A resolution from ,hs committee on rules
providing the House shall proceed immed-
lately to the consideration of the silver bill,
and that the consideration shall continue
until Saturday at z. NJ, when the previ-
Gus question shall be considered, 40 ordered
was adopted. yeas l20, nays III.
Blouut of Georgia opposed the resolution
as a shameful outrage upon the rights of
the minority.
Bland Of Missouri spoke against the reso-
luton.
Cannon Of Illinois supported the resolu-
ton. He said the minority which was nov
clsmoring for free coipsge had held the
House in the 49th aud 50th Congress but
hsd passed no bill for free coinage.
| A motion to reconsider was laid on the
table by vote Of l?4 10 Ils.
4 The republicans who voted in the mega
tive were Anderson of Kansas. Bxrtine.
connell, Dehayen, Festherstone, Funston,
Kelly. Morrow, Hermann and Townsend
of Colorado. No democrats voted in the
affirmative.
The House proceeded TO the considera-
ton of the silver bill The bill having
been read Copger of Iowa offered the eau
Gus bill as a substitute. It directs the Sec
retsry of the Treasury to purchase silver
bullion to aggregate amount 81 $50 900
worth Of fine silver each month, at the
market price thereof not exceeding 81 for
81 20 100 grains of pure silver and issue
in pay ment for such purchase treasury
notes to be prepared by the Secretary of
the Treasury in such form and such de-
nominations. not less than 81 nor more
than 81 900, rs he may prescribe, a sum
sufficient to carry into effect the provisions
of this act hereby appropriated out of any
| money in the treasury not otherwise ap
| propriated.
Section 2. Treasury notes issued in ac-
| cOrdance with this act be redeemable on
demand in coin at the Treasury and when
so redeemed may be rcissued, and no
greater or less amount of such notes be
| outstanding at any time than the cost of
silver bullion then held in the treasury and
purchased by such notes, and such treasury
notes of legal tender in payment Of all
debts. public and private, except where
| otherwise expressly stipulated in contract,
shall be receivable for customs, taxes, and
all public dues. and when so received may
be reissued; upon the demand of holder of
any treasury notes, herein provided for,
the Secretary of the Treasury may ex-
| change for such notes an amount of silver
bullion, which shall be equal in value at
the market price thereof on the day of ex
| change, to the amount of such notes pre-
sented.
Section 3. The Secretary of the Treas
ury shall coin such portion Of the silver
bullion purchased under the provisions of
this act as may be necessary for the re-
demption of treasury notes herein provided
for.
Section 4. The silver bullion purchased
under the provisions Of this act shall be sub
ject to the requirements Of the existing Law
and the regulations of the mint service.
Section j.-It repeals so much of the act
authorizing the coinage of the standard dol
lar and restoring its legal tender character
as requires the monthly purchase and coin
age of the same into silver dollars of not
less than 81 600 ,0C0 nor more than 81 900,
600 worth of silver bullion.
Section 6. Whenever the market price
of silver is 81 for 37l.25 grains Of pure
silver the owner Of any silver bullion may
deposit the ssme at any mint to be coined
into standard dollars for his beneft.i
Section I. The balances standing with
the treasurer to the respective credits of
National banks for deposits made to re.
deem the circulating note, such banks shall
be covered into the treasury and the treas.
urer shall redeem them for general cash in
treasury circulating notes on said banks,
which may come into his possession sub
ject to redemption, and upon the certificate
of the comptroller of the currency such
notes may be destroyed by reimbursement
and their amount be made to the treasurer
and from the appropriation hereby created
to be known as National bank notes. re
dempi N account" the provisions in this
act will not apply to the five per centum
Of circulation National banks held and used
for the redemption Of their circulating
notes.
McComas Of Maryland moved to amend
the substItnte by adding TO section & the
words, And the purchase Of silver bullion
shall be suspended while it is being 50 de-
posted for coinsge."
Tay lor of Illinois offered an amendment
to the original bill, providing if the net
amount of silver bullion received in any
one month is less than 50 900 900. the Sec
retary shall on the succeeding month pur-
chase sufficient amount to supply the de-
ficieDcy.
OD0nn,ll of Michigan moved to amend
the amendment by striking out 81 900 900
and inserting s., 900, 900. This exhausted
all the a'nendme nts which can be offered
under the rule', and although Blard was
on his feet demanding recognition, he WAS
ignored by the Speaker.
Conger of Iowa said it was one OF the
twin money metals Of the world. No Ie els-
lation should be enacted into a Law which
would imperil values, endanQer business.
or ri,k personal or national credit or pros
perity. No measure could Re satisfactory
| to all men or all parts of the country. The
bill before the House today was not en-
tifely satisfactory to every one TWAS not
| entirely satisfactory to him. lie believed
the bill first reported was the best. This
as::the bill which the majority believed
| would greatly improve the present status
and make long stride in the direction the
government ought to 90. II would add
s54 900 900 treasury notes every year.
Under the proposed Law every ounce Of
| silver purchased would be represented in
silver circulation. Under the present sys-
TEN much silver was piled up in the vaults
| without any representation. He believed
| in silver and believed the country should
| nave free coinsge at = fixed ratio, at the
ear lest possible day. 1t should be reached
under conditions safe and permanent.
Under the present attitude of commercial
| nations towards silver, it 10 neither wise nor
| safe for this government to attempt il
Alone. We ought to get free coinage, and
20 must have some other great CONNER
| cial nation TO join US In the effort.
| This bill is long step towards free coin
| age. He spoke Of the lobby maintained BY
| unit owners demanding the free coinage of
silver Immediately. This vas not in the
| interest OF bimetalism but in the interest of
the single silver standard. The single sill
| yer standard would Mexicanize this coun.
| try.
Wilson Of Illinois spoke in favor Of the
coinage Of silver, aad contended that gold
| did not have fred vsine. He criticised
the features Of the bill Of the Secretary Of
| the Treasury and argued in favor Of placing
the two metals on . parity. Ii vas said
that this bill. also the caucus bill, was an
experiment. He opposed experimenting
in regard u silver. Let Congress deter
mine nov whether the country should con-
| tinue the use Of silver - money. and IL
| the question vas decided 10 the Affirmative
let the government coin silver according to