The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-04-24
A SILVER BILL AT LAST.
THE REPUBLICANS AGREE ON A
COMPROMISE MEASURE.

Election Law Considered.
WASHINGTON, April 23. The republicans
of the House and Senato have again agreed
upon basis for the preparation of a silver
bill. The agreement is in harmony with
the measure adopted by the Senate caucus
committee, with one important amendment.
Following is the full text Of the bill as
agreed upon:
The Secretary OF the Treasury is hereby
directed to purchase, from time to time, silver
bullion to the aggregate amount of 4,500, 900
ounces OF free silver In each month at the mar
ket price thereof not exceeding 81 for 371 25-t00
grains OF pure silver, and 10 issue in payment
for such purchases of silver and gold bullion
treasury notes of the United States, to lie pre-
pared by the Secretary OF the Treasury in such
form and or such denominations not less than
81 nor more than 81 900, as he may prescribe,
and a sum sufficient TO carry into effect the
provisions of this act is hereby appropriated
out of any money in the treasury not otherwise
appropriated.
Sec. q That the treasury notes issued In az
cordance with the provisions of this act shall be
redeemable on demand III lawful money of the
United States, the treasury of the United States,
or at the Office Of any assistant treasurer Of the
United States, aud when SO redeemed may be re-
issued, but no greater or less amount of such
notes shall be outstanding at any time than the
cost OF the silver bullion then held in the treas
ury. purchased by such notes And such treas
ury notes shan be receivable for customs taxes
aud ali pSblic dues, ana when so received may
be reissued; and such notes when held by any
national banking association may be counted as
part OF its lawful reserve. Provided: That
upon the demand OF the holder of any OF the
treasury notes herein provided for the secretary
OF the Treasury. may, in his discretion and under
such regulations as he may prescribe, exchange
for such notes an amount Of silver bullion
which shall be equal in value at the market price
thereof on the day OF exchange to the amount
SEC. 8. That the Secretary Of the Treasury
shall coin such portion OF the silver bullion pur-
chased under the provisions Of this act as may
be necessary to provide for the redemption of
the treasury notes herein provided for and any
gain or seigniorage arising from such coinage
shall be accounted for and paid into the treas
ury.
SEC. 4. That the silver bullion purchased
under the provisions of this act shall be subject
to the requirements of the existing law and
regulations OF the mint service governing the
methods of determining the amount Of pure
silver contained and the amount of charges or
deductions if any are to be made.
Sec. 5. That SO much of the act Of Feb. 2s,
1873 entitled: IAN act to authorize the coinage
OF the standard silver dollar and to restore it's
legal tender character" as requires the monthly
purchase and coinage of the same into silver
dollars OF not less than o. 900 000 nor more than
$4,000 600 worth OF silver bullion is hereby re-
pealed.
Sec. 6. That this act shall take effect thirty
days from and after it's passage.
TELLER ALONE DIssENTs.
Senator Teller of the Senate subcommittee
did uot agree with his associates in the con-
clusions they reached, but they we're
adopted by the full committee of thirteen,
with his single dissenting vote.
Speaking OF the matter later, Senator
Teller said he had announced his purpose
not to support bill that gave the Score
tarysof the Treasury the option of redeem
ing certificates in bullion. aud he would not
do so. He would for himself, he said, make
an effort TO secure free silver coinage; fail
ing in that, he would accept the next best
thing he could get. When the measure
came up in the Senate for action, hs said,
he would move to make the certificates legal
tender.
A REPUBLICAN CAUCUS.
Apparently the republican members of
the House have become tired of endless dis
cussion, for in caucus tonight they sud-
denly REQUIRED to the original purpose for
which the first caucas was called-namely,
the arrangement of an order of business
and made rapid progress in pre-
pairing "a programme; The sub
ject of silver legislation, which
has heretofore so vexed the caucus was
disposed of with such ease and rapidity as
to astouish members who were not ac-
quainted with to-day's agreement between
the Senate and House committees. Mr..
Conger presented the report of the caucus
committee in the shape of bill, which was
adopted upon standing vote without the
formality of an aye and nay call. Only half
a dozen members voted in the negative, and
their opposition was mainly based upon the
failure of the bill to give full legal tender
quality to treasury notes.
TO BE TURNED INTO THE TREA sURY.
In addition to the provisions of the bill
already stated IL is provided that money
now held in the treasury under section
5,222 Revised Statutes and section of the
national bank act is to be carried into the
treasury. This is the proposition which
was introduced in the House last week in
the form of a bill. 1t concerns money held
to redeem national balk circulation Ia case
of Hquidating banks, or banks reducing
circulation or taking out new charters,
where the full circulation is not redeemed.
This fund.- which it is proposed
TO restore to circulation, it is estimated
amounts to S000,0 900. This bill seems to
meet with general approval as being fair
compromise. The conservative element
was satisfied with the restrictions placed
upon the quality of the treasury notes, and
the silver men felt that they had secured
the substance OF their claims, in that the
notes must be redeemed in lawful money.
The bill was laid aside with an understand
ing that the committee on rules will report
a resolution requiring its consideration by
the House at the earliest possible moment,
with strict limitation upon the length of
the debate.
PENSIONS FOR NINETY-DAY SOLDIERS.
Having disposed of the silver question the
caucus turned its attention to the subject of
pensions, and after short discussion
Endorsed the Morrll service pension bill,
which grants a pension of $6 month to
soldiers who served ninety days in the late
war and who shall have reached the age of
62 years.
The Lodge national election bill came
next in order. Mr.. Lodge briefly explained
its provisions and the necessity for its
passage.
Mr. Rowell, chairman of the elections
committee, did not believe that it was
necessary or expedient to pass national
election law, and submitted as a counter
proposition, plan for wide extension of
the present supervising system, which. he
asserted, would meet all necessities. After
some debate the caucus adjourned till next
Tuesday. when confederation of the Lodge
bill will be concluded, aud the McComas
bill to prevent gerrymanderIug will be
taken up.