Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-06-05
A NEW SILVER BILL
Formulated by Conference of the
Republican Congressman.
STILL A NUMBER OF KICKERS
Who Insist Upon the Unlimited Coinage of
the White Metal.
SPEAKER REED TAKES AN,ACTIVE PART

WASHINGTON, June 4-The Republi-
can Representatives went into caucus i'm
mediately upon the adjournment Of the
House this afternoon to consider the silver
question. 1t had been announced in ad-
vance by the leaders that the real purpose
was a conference rather than q formal
caucus.
Chairman Conger of the Coinage Com
mittee, opened the proceedings by setting
forth the urgent reasons for passing bill
that should relieve the country from the
present contraction OF the currency. He
desired above all things that any silver bill
that should become q law should be dis
tinctively a Republican measure, and he
trusted that the party alignment would be
preserved. He understood that a consider
able number of Democrats stood ready to
vote Tor a free coinage bill, and in the event
that a sufficient number of Republicans
were led off to carry such a proposition it
would be claimed as a Democratic measure,
thing to be deprecated.
ONE BITTER KICKER.
Representative Payson followed with
savage attack upon the caucus bill, which,
he said, was a delusion and a snare. 1t
failed to meet the wishes of the Western
people, and he could not support it under
any circumstances unless it remonitized
silver. At this point it was suggested that
there was no definite proposition before the
caucus. So Representative Buchanan, of
New Jersey, submitted a motion that the
caucus bill as it stood be re-lndorsed. Much
talk followed and developed diversity OF
views.
Representative Walker submitted propo-
eTf xrhs soh af4.a cd
OF the bill back to the former Caucus COM
mittee with instructions to report a bill
which will place gold and silver on a
parity by allowing the issue of certificates
to an unlimited extent on deposits of either
metal at the market value.
The silver men made the objection that
there could be no parity as long as the
privilege of free coinage accorded to gold
was denied to silver.
A NEBRASKA SUBSTITUTE.
Representative Dorsey submitted as a
substitute Tor the caucus bill draft of
bill which he proposes to introduce in the
House. 1t provides that any holder of
American silver may deposit 1t in the
Treasury and receive 1ull legal tender GER
tihcates on the basis of the market price OF
silver; that sufficient bullion shall be coined
to meet the needs of redemption, and that the
national bank note redemption fund shall
be covered into the Treasury.
Representative Perkins attacked the
mouo-metalists in vigorous speech and
noted his objections to the bullion redemp-
tiou feature of the eauens bill.
Finally Representative Mckinley came |
TO the front with compromise proposition. |
He proposed that the Treasury shall pur- |
chase 81, 100000 worth OF American silver |
each month; that the certificates in pay.
ment therefore shall be of full legal tender |
quality, redeemable in lawful money, and |
that silver bullion may be coined to meet
the demand of redemption. His proposition
also contained the national bank redemp-
tion fund feature of the Dorsey bill, and
also provision that when gold and silver
reach par there shall be free coinage.
AN OBJECTIONABLE FEATURE.
1t omits the bullion redemption provision
of the bill, and was therefore Immediately
assailed by several members on that ac-
count. Speaker Reed led the attack, and
alter making a speech in favor of including
the bullion redemption feature vote was
taken resulting in its insertion in the Nc
kinley substitute. The substitute as
amended was then adopted.
An effort was made to secure the passage
Of a resolution binding the Republican
to support in the House this last
caucus measure. Representative Payson
a proposition contemplating a
OF the right of Republican
to offer amendments to the bill
when it comes before the House. This was
negatived, and when the caucus adjourned
there was good deal of confusion In the
minds of members as to whether or not they
we're bound to supplement the caucus propo-
sition
The Committee on Rules will decide
when the bill shall be brought up in the
House.