Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1890-07-08
THE SILVER BILL.
The Conference Committee Finally Re-
port a Compromise.

WASHINGTON. July 7th.-an agreement upon
the silver question has practically been reached.
1t will provide for the purchase of 4501, 900
ounces of silver a month, There is no bullion
redemption feature Certificates will be redeem
able in coin and full legal tender. A meeting OF
the full Conference Committee TO consider the
agreement has been called and no doubt it will
be ratified
After the first Intellectual conference last
Thursday the Republican members decided
that an agreement could be more speedily and
satisfactorily reached by party consultation than
by conference open 10 both political parties.
Accordingly, Senators Sherman and Jones and
Representatives Conger and Walker entered
upon the task CT drafting compromise meas
ure. They progressed so rapidly in this that the
conference substitute was completed in all the
essential points save one and sent to the printer
yesterday. The point left open related TO the
amount of silver bullion to be purchased.
sherman, Walker and Conger thought four
million ounces monthly fair compromise, but
James declared for four aud a half million
ounces. Such was the state of affa rs this morn
ing, when oyertures were again made to Jones
to accept i,250,000 ounces. The Western
Senators were in receipt OF kilograms urging
them to hold out for the full amount of four and
a half million Ounces, and to insist on q
speedy disposition of the bill So the overtures
were rejected, AID when the proposition was
made to take up the tariff bill in the Senate
this afternoon. the silver men manifested their
power to check the flow of party legislation
unless their demands rere net. Soon after
ward the Republican members of the confer
words five hundred thousand" were add, d
to the four million ounces contained in the
printed conference substitute, and the agree
ment completed
Senator sherman spent a few minutes in
drafting formal report TO the Senate, and then
notified the Democratic members, Sen4tor Har-
ris and Representative Bland. The agreement
was formally ratified, although the Demo-
cratic members refused to sign the report.
The substitute provides that the Secretary of
the Treasury shall purchase from time to time
silver bullion to the aggregate amount of a.
10000 ounces. or so much thereof as may be
offered in each month Mt the market price
thereof, not exceeding 81 for 81 IS grains pure
silver. The Treasury notes issued IN payment
wi ! be redeemable in coin aud be a gal tender
in the payment of all debts, public and private,
except where otherwise expressly stipulated IN
the contract, aud be receivable for customs,
taxes and all public dues.
Upon the demand of the holders OF Treasury
notes the Secretary shall, under such reguia-
lions as he may prescribe. redeem such notes in
gold o. sitter coin. at his discretion, Ii being
the established policy OF the United States 10
maintain Two metals on a p 'Tity with each other
upon the present legal ratio or such ratio as
may be provided by law
The Secretar OF the Treasury shall each
month coin two million ounces OF the silver
bullion purchased iutO standard silver dollar:
until the lst day Of July. 1891. and after thai
time shall coin Gus of the silver bullion pur