The Delta independent., 1890-06-10

Apdln dLleEItu In conference.
Senator Stewart persisted in his asser-
ton that the amendment had not been
read and argued.
HOUsE.-Mr. Mckinley, from the COM
mittee on rules, reported a resolution pro-
vlding that the House shall proceed i'm
medlately to the consideration of the sill
yer bill and that the consideration should
continue until Saturday when the previous
question shall be ordered The preyi Gus
question having been ordered on the reso-
luton, forty minutes Cebate was allowed.
Mr. BIount, OF GeOrgia, had no objection
to the time limited 1or debate, but he was
informed that the chairman of the com
mittee on coinage would be allowed to Of
fer al of the amendments which were ad-
missible under the rules OF the House.
When these were offered, there would be
left no opportunity for the minority to
offer any amendments. There would be
no opportunity on the part of the minority
to ask the House TO vote on the free coin
age of silver. At the Republican caucus
last night there had been much discussion,
and it was necessary to whip in the friends
OF free silver by means of this resolution.
1t was wicked and shameful outrage on
tse minority. There were man, men on
the other side who would vote for free sill
yer but for fear that the President was in
accord with the Secretary of the Treasury
and both were in accord with Wall Street
After many more very bitter speeches the
resolution was adopted-yeas 120, nays
III. the Republicans VINO voted in the
negative were Anderson, OF Kansas; Bar
tin, Council, De Haven, Featherstone,
Funston. killemey, Morrow. Hermann,
Townsend, of Colorado. No Democrat
voted in The affirmative. B.ount, Of Geor-
GA changed his vote TO the affirmative,
and moved recon sideration. Mr.. Mckinley
moved to lay this motion on the table.
This was agreed to-yeas l24, nays lis.
Representatives teatnerstone and Van
deyer, who voted with the Democrats on
the first occasion, voted with the Republi-
cans on the motion to table. The bill hav-
ing been read, MIR. Conger offered the eau
Gus bill as a substitute. 1t is substantially
as follows:
The Secretary of the Treasury is di-
rected to purchase from time to time, sill
yer bullion of the amount of $500, 900
worth hne silver each month at the market
price not exceeding 81 for 5il and 2i-l0Gths
grains of pure silver, and to issue in pay
ment therefor treasury notes to be pre-
pared by the Secretary of the Treasury,
and sum sufficient TO carry into effect the
provisions Of the act is hereby appropriated
out OF any money in the treasury not
otherwise appropriated
Section provides that treasury notes
shall be redcelaaOle on demand in coin,
and when so redeemed may be reissued,
buuno greater or less amount of such
notes shall be outstanding at any
then held in the treasury, purchased by
such notes. Such treasury notes shall be
legal tender for the payment of all debts,
pubic and private, except where otherwise
expressly stipulated in the contract, and
shall be receivable for customs, taxes and
all public dues, and when SO received may
be reissued. Such notes held by any Ma
tional banking association may be counted
as part of lis lawful reserve. Upon the
demand of any holder of such notes, the
Secretary of the Treasury may, at his dis
cretlon, exchange for them the amount of
silver bullion equal in value at the market
price thereof on the day of exchange TO
the amount of such notes presented.
Section 5 provides that the Secretary OF
the Treasury shall coin such portion of the
bullion purchased as is necessary to pro-
vide for the redemption of the treasury
notes provided for.
Section provides that silver bullion
purchased under this act shall be subject
to the requirements of the existing law
and regulations of the mint service.
Section provides that so much of the
act of February =, l>.N, as required the
monthly purchase and coinage of not less
than S2,UOO,UOO nor more than ~ ,OOO, 600
worth of silver bullion oe repealed.
Section provides that whenever the
market price OF silver as determined in
pursuance of section /, is S for 3. p
grains pure silver, 1t is held to be lawful
for the owner of any silver bullion to de-
posit the same at any coinage mint of the
United States to be coined into standard
silver dollars for his benefit. as provided
IN the act of January, 1881.
Section provides that upon the passage
of the act the balances standing with the
treasurer to the credit OF the National
banks for deposits to redeem circulating
notes and all deposits thereafter received
| for like purpose snail be covered into the
treasury as miscellaneous receipts, and
the treasurer shall redeem from the gcner
al cash tGe circulating notes of the banks
! which come into his possession subject K
/ redemption; upon the certificate of the
I comptroller of the currency that such
notes have been destroyed and no new
/ ones issued in their place. reimbursement
/ of the amount to be made to the treasurer
| from the appropriation hereby created, tC
| be known as the National bank notes re
| dempton account: but this provision does
/ not apply to deposits received under sec
! tion of the act of June 70, 1874, reQuirin :
National banks to keep with the treasurer u
/ sum equal to per cent. of their circula-
| tion. to be held and usSd for the redemp
ton of circulating notes, and the balance
| remaining of the deposits so covered shall
\ at the close of each month be reported on
| the monthly public debt statement as deb,
! bearing no interest.
Section provides that the act shall take
effect thirty days after its passage.