Wessington Springs herald. (Wessington Springs, Aurora County, Dakota [S.D.]) 1883-1891, 1890-07-18
THE Silver QUESTION.
An Agreement at Las. Arrived at-The
Western Men win-Tcxt of the Sub.

An Agreement at Las. Arrived at-Tho
Western Men Win--Tcxt of the SUBJ
stitut".
An agreement upon the silver question
has at last bean ren, he'd. 1t provides for
the purchase of 4.5oo, 900 ounces of silvera
month";. bullion redemption certificates to
lie redeemable in coin and to be full legal
tender. The full conference committee
met and the report drawn up by Senator
Sherman was adopted. Thu report was
pre- sented to ths senate Immediately. After
the first Intellectual conference last week,
the republican members decided that an
ayr -ment could be more speedily and sat-
Is actorlly reached by a party consultation
than u conference open to both political
parties. Accordingly Senators Sherman
and Jones and Representatives Couger and
Walker took upon themselves the task of
drafting a compromise measure. They
progressed so rapidly in this that q con-
ference substitute was completed in all es-
sentlal points save one, and was at once
Sent to the printer. The one point left
open related to the amount of silver bull
hon to be purchased. Sherman, Walker
and Conger thought 100000 ounces
monthly a fair compromise, but Jones de-
clared for a, 900, 900 ounces. Such was the
state of affairs Monday morning when
overtures were bsing made to Jones to &C.
cept 4,230,O0O ounces. The western sena-
tors were in receipt of kilograms urging
them to hold out for the full amount
of $500, 900 ounces and insist upon
the speedy disposition of the bill.
SO the overtures were rejected and
when a proposition was made to take up
the tariff bill in the senate Monday after
noon the silver men manifested their
power to check the flow of party legislation
unless their demands were met. Soon
afterward the republican members of the
conference were again called together, the
words five hundred thousand" were added
to 1000, 900 ounces contained in the printed
conference substitute md the agreement
completed. Senator Sherman spent a few
minutes in drafting a formal report to the
senate and then notified the democratic
members-Senator Harris and Representa-
tive Bland-that the agreement was form
ally ratified, although the democratic
members refused to sign the report.
The substitute provides that the seere-
tary of the treasury shall purchase from
time to time silver bullion to the aggregate
amount of 1850, 600 ounces, or SO much
thereof as may be offered in each month,
the market price thereof not exceeding ST.
for 81 and 25-1O0 grains of pure silver.
The treasury notes issued in payment will
be redeemable in coin and legal tender in
payments Of all debts, public and private,
except where otherwise expressly
stipulated in contracts, and will be receiv-
able for customs, taxes, and all public
dues. Upon demand of the holder
of treasury notes the secretary shall,
under such regulationsa as he may prescribe,
redeem such notes in gold or silver coin,
at his discretion, it being the established
policy Of the United States to maintain the
two metals on a parity with each other
upon the present legal ratio, or such ratio
as may be provided by law. The secretary
of the treasury shall each month coin
1900, 900 ounces of the silver bullion pur-
chased into standard silver dollars until
the LIST day of July, 1891, and after that
time shall coin out of the silver bullion
purchased as much as may be necessary te
provide for the redemption Of the treasury
notes. The present law is repealed. The
last section provides for covering into the
treasury the funds held for redemption OF
the national circulation.