, 1890-04-24
THE SILVER PROBLEM
Republicans Have Reached
an Agreement.
FEATURES OF THE MEASURE.
1t Is Based Upon the Bill Adopted
by the Senate Caucus
Committee.

WAsHiSoros, April 23.-rhe republi-
cans of the house and senate have
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 i'm
portont amendments.
The bill provides that the secretary OF
the treasury direct the purchase from
time to time of silver bullion TO the ag-
gregate amount of 1900 COO ounces OF
pure silver in each month at the mar
ket price thereof. not exceeding 81 for
87l.25 grains of pure silver, and to
issue in payment treasury notes
of the United States, to be prepared by
the secretary in such form and such de-
nominations, not less than 81 nor more
than $1,000, as he may prescribe. Tho
treasury notes issued are to be redeem
able on demand in lawful money of the
United States at the treasury, or by any
assistant treasurer, and when 80 re-
deemed may be reissued, but there shall
be no greater or less amount of such
notes be outstanding at any time than
the cost OF the silver bullion then held in
the treasury, purchased by such notes.
IL Is also provided that upon the de-
mand of the holder of any OF the treas
ury notes provided for the SECRETARY
may exchange for such notes an an Junt
of silver bullion which is equal in value
at the market price thereof on the day
OF the exchange to the amount of such
notes.
The secretary of the treasury shall
coin such portion of the silver bullion
purchased under the provisions OF the
act as may be necessary to provide for
the redemption of the treasury notes
provided for, and any gain or seignorage
arising from such coinage shall be ac-
counted for and paid into the treasury.
The silver bullion purchased under
the provisions of the act shall be subject
| to the requirements of the existing laws
and regulations of the mint service gov.
erning the methods of determining the
amount OF pure silver contained and
the amount of the charges or deduc-
tions, IL any, to be made.
So much OF the act of February %,
1878. entitled "An act to authorize the
coinage of standard silver dollars and
restore its legal tender character" AS
requires, monthly purchase and coin
age of the same into silver dollars of
not less than s2,OD,0oO, nor more than
$4,000 worth of silver bullion, is
/ hereby repealed. The act shall take
effect thirty days from and after its pas
] sage.
senator, Teller, of the senate sub
committee dissented. Later he said he
would make an effort to secure free sill.
yer coinage, and falling in that, would
accept the next best thing lac could get.
When the measure came up in the
senate, he would move to make the Ger
tiiieates legal tender.
THE BILL AnoPrED IN CAUCUS.
At the republican caucus tonight,
the silver bill, given elsewhere in these
dispatches, was adopted. but with few
dissenting votes, the objecting members
opposing the bill because it failed Ia
give full legal tender quality to the
treasury notes specified.
In addition to the provisions of tho
bill already stated. II is provided that
the money now held in the treasury to
redeem the national bank circulation,
IN tho cases of liqudating banks, banks
reducing their circulation, etc. Is to be
conveyed into the treasury. This fund,
estimated to amount to about y7s, on,
OO0, will be restored to circulation.
The committee on rules will report a
resolution requiring the consideration
OF the bill by the house at the earlies
possible moment with a strict limita.
ton Of the debate.