New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-02-25
THE SILVER QUESTION.
SECRETARY WINDOW ON HIS BILL.
DISCUSSING 1T BEFORE THE HOUSE COMMITTEE
on COINAGE, WEIGHTS AND MEASURES

n,scrssING 1T BEFORE THE HOUSE COMMITTEE
on COINAGE, WEIGHTS AND MEASURES
FEATURES OF THE SENATE BILL.
Washington Feb 24.-Secretary Window was before
,be House Committee on Coinage, Weights and Meas
r,es today Regarding the bill which was prepared
., the Treasury Department and introduced in the
IIouse by Representative Conger, Mr. Window said
hat was framed to meet, in the best he could
devise the present financial conditions. lie had seen
II stated that the bill put forward merely as a
pakeshift that its author did not believe in 1t and
that IFS purpose 10 defeat other measure
,1c wanted 10 dsavow any such views Some cur
ncy was necessary take the place of the banknOe
that are being retired The bill was framed with inc
hone if it became a law, Of removing large portion
of The variation in vaue of gold and silver lie ala
NOT believe il was possible for the United States To
fix A ratio between silver and gold. and MAINTAIN
that ratio independent of other nations and the bill
was designed to adopt the ratio that the commercia
world had adopted
Mr. Window then took up in their order tho OBJ
,ections that have been raised against his Dill Inc
frs, difficulty TO be overcome was That OF eNcmdihg
foreign ores To meet this he had prepared an amend
rcpt 10 the first section which makes it the duty OF
, collectors Of customs of the United states to stamp
with steel stamp on every bar of silver bullion I'M
norted into the United states the word "iofelSh'
II also makes il the duty of every aSSayer or rchner
in the United States any other person or firm who
may receive bars of silver stamped foreign In case
such bars are remclted refined to stamp with steel
samp the resulting bars foreign" In case bars OF
.i,vor stamped foreign remelted or refined with
Iver products of the United states, it shall be the
duty of such assayer refner 10 stamp on an amonni
~ silver bars which shall he equivalent to the
amount of foreign silver melted or refined the word
{. foreign The amendment also provides that where
,orcirn silver coins remclted the resulting bars
eb.u he marked in the way, and that where
oi,n silver coins are remelted refined with silver
ndncts of the United states that it is not possible
IN scparate exact product of the CONS, the Woru
foreign shall be stamped on an amount OF silver bars
canal 10 the foreign silver coin rcmelicd or rehhcu
If is further provided that every person falling TO
stamp these resulting bars. and every person unaw
fully removing the stamp mutilatng 1t fol~<he pnr
nose Of preventing Identification shall be punished by
= fine Of not less than 500 more than Sl,Ooo Tor
each bar 30 changed. Nothing III the section now
ever shall be held apply to silver products extracted
by the processes of smelling. amaSamation and hNVia
ton or any other metaursical process IN the Oh''cu
States from imported ores.
Concerning the objection 10 the sixth section Oh 'e
, authorizing the secretary to suspend the receipt OF
silver bullion when he is satisfied that It's price Is ar
htrary the secretary said he knew that II was tous
This was dangerous discretion 10 be lodged IN an o
fca but he wanted say that far as the speculative
rovrer s concerned and the inducements 10 the Se'Fo
trv 10 use it for that purpose the powers the eece
INV, now had we're greater than those conferred on
him bv the bill II the bill passed the price OF SILVER
would in his opinion, advance steadily ana rslu'N
An excellent feature Of this discretionary power vested
in the secretary would be its deterrent eneC 1n Oh
vs. moi 10 degrade silver. but 10 bring II out a. heafN
a. he could on an equality with gold lie "aH con,
me Situation without endangering the interests Oh INC
country and would absorb the surplus OIL HHNer' anu
therelv 1ut I'D It's price certainly ana rdpuN.
In answer t. a question by Representative longer,
MI Window said there would not be any iclSoitd .
I'D i'm fla mrs ltI
IH To beneft the interest Of the silver producers
was not the only motive in the IN. lie believed ",
fhnnsht tbe whcat-raiscrs Of the country were more
interested than the silver people for me aigr y
and Inc operation Of this bill woud tend 10 ac nc
Irices of farm products Free coinage VT. Nmuon
zine The present bill would increa>e the crcnlaGn
OF the country 10 the extent oil by
the Inc senate ait's' Committee Finance
substitute for the several DIS on ,I.c a.. ,on
nv tSo committee at the meeting tomorrow. IT has
been drawn up after consultation VII" 'Ic eS
a. accent and support it. The committee. a stated
ia, week are practically unanimous in itS favor, anu
The principal features Of the Bill are stated 70 DC
these: u--... g., ...,ori,od 70 in
crease the purchase Of silver bullion from f-VoyVD
10 S4JOO,OOO month. Inc requlreiHehh1 ~ 80
i,,e rate Of moi less than S2.OOO.OOO month i
stricken ont The secretary is also authorized 10
purchase gO0 bulllOn IN ulff>tIi 'tH yuan.
mis- gold and silver bullion. the secretary man
issue Treasury notes in such denomlnauons a ne
snail see NJ. to be rcdeemabe in lawful money
\ prominent senator Identified with the silver
interest, saw that the bill. while not Who'H
satisfactory to the silver men, VIII receive ult!r
support as the best that can be secured at thl>
time. 1t Will in his opinion, have two goa "
sults-t will Increase both the price Of silver ana
tbe volume Of currency II the iii also provides
for the coinage Of the silver II would add grcaty 70
opinion. meet any possible objection that could be
raised against il in Europe.