New-York tribune., 1890-06-05
PEPrBLICAN HOUSE CAUCUS ON SILVER
ADOPTING A COMPROMISE MEASURE IN WHICH
1yc1rpEp THE BULLION REDEMPTloN
rr,rr-pr or THE CAUCUS BILL.
FpATrRE OF THE CAUCUS BILL.

Washington June 4.-Thc Republican Reprc'eh'H
,ivcs wont into cancus Immediately upon inc 40
iournmcnt Of the House this afternoon l" 'o'''
The silver question. 1t had been announced IN al
vance by the leaders that the real purpose "N
conference rather than formal caucus
Chairman Conger, Of the Coinage Committee opo"''
the proceedings by setting forth the urgent rc's"
for passing a bill that should relieve the country
from the present contraction Of the currency nc
desired above all things that any silver Dill 'n"V
should become a law should be distn'tvcy ho
pnbcan measure. He understood that cohNIucl'olo
number Of Democrats stood ready TO vote i'r ire
coinage bill and in case a sufficient number oi ho
pnhlcans were led of to carry such proposition II
would bc claimed As Democratic mcaSurc--a thing IN
be deprecated.
Representative Pavson followed Mr.. CNnccr with
savage attack upon the caucus bill. when ne san
was delusion and snare. II failed l" meet inc
wishes Of the Western people. and he could not sup
port il under any circumstances unless remonotAel
silver.
Al ihi, point Il was suggested that there was no
definite proposition before the caucus. 80 Represent"
tive buchanan. of Ncw-JcrScy, submitted mouoa
that the bill il stood be reindorSeh. Mn'h
talk followed developing Il diversity Of views. Repre-
sentative Walker Of Massachusetts. submitted prop"
siton which in effect proposed reference Of the bill
back to the former Csucus Committee, with n'truc
tions to report bill which will placc gold ana silver
on a parity by allowing the issue of certificates to
an unlimited extent deposits Of either metal al
the market value The silver men Immediately made
the objection that there could DC no parity ~ Ions
the privilege OF free coinage accordcd 10 Soh Wa
denied 10 silver
Representative Dorsey. Of Nebraska, submitted
substitute for the csucus bill draft Of bin which
he proposes introducing in the House. II provides
that any holder Of American silver deposit IL IN
the Treasury and receive full legaltcndcr certificate,
on the basis Of the market price Of silver that sG
/ Iciop fulli hal hc %
redemption and that the National bank redemption
fund shall be covered into the Treasury
Representative Perkins, OF Kansas, attacked tho
monometalli,ts in vigorous speech. and noted his
objections TO the bullion redemption feature Of the
caucus bill.
Finally Representative Mckinley to the front
with the following compromise proposition
Resolved That II the Of this caucus that the
Conger bill a. modified by the Special Committee. should
mass the House with the following amendments
Firs-That Of silver bullion to be purchased
monthly shall be 81 900 worth.
Secondly-That the bullion redemption feature OF the
| bill shsl he stricken out
| Thirdly-Thst the Treasury notes shall be legal
| tender for private Is well public debts.
Fourthly-That said shall be redecmabln in coin
| Fifthly-Thst the funds held for the redemption Of
National b,nk notes shall be covered into the Treasury.
Sixhly-Free coinage when the ratio ot silver Is six.
teen
The second proposition was voted down; the other
five adopted
An effort was made 10 secure the passage Of n
| resolution binding the Republican members Ia sup
port in the House this last caucus measure. Rep
resenta,ive Payson submitted proposition con.
members to offer amendments to the bill when II
comes before the llOnSc. This was ncgatived, and
confusion in the minds Of members 10 whether or
not they bound to support the caucus propo,-'
The Committee on Rules will decide when the bill
shall be brought up in the House