St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-06-05

free coinage bill, and In the event that
a sufficient number of Republicans were
led off to carry such proposition, it
would be claimed as aDemOcratic meas
ure, thing to be deprecated. Repre-
sentative PaySon followed with saw
age attack upon the caucus bill, which,
he said, was deluSion and snare. 1t
failed to meet the wishes of the West
ern people and he could not support it
under any circumstances, unless it re-
monetized silver. At this point it was
proposition before the caucus. So Rep
resentative Buchanan, of New Jersey,
submitted motion that the caucus bill,
as it stood, be Reimbursed. Much talk
followed and developed a diversity
of views. Representative Walker
(Mass.) submitted a proposition
which, in effect, proposed reference
of the bill back to the former caucus
committee, with instructions to report
a bill which will place gold and silver
OH parity by allowing the issue OF GER
tlfcates to an unlimited extent on de-
posits of either metal at the market
value. The silver men Immediately
made the objection that there cOuldbe
no parity as long as the privilege of
free coinage accorded to gold was de-
MED to silver. Representative Dorsey
Neb.) submitted as substitute for the
caucus bill draft of bill which he
proposes to Introduce in the house. 1t
provides that any holder OF American
silver may deposit it in the treasury
and receive full legal tender certificates
ON the basis of the market price of sill
yer; that sufficient bullion shall be
coined to meet the needs OF re-
demption, and that the national
bank note redemption fund shall
sentative Perkins (Kansas) attacked the
and noted his objections to the bullion
redemption feature of the caucus bill.
Finally Representative Mckinley came
to the front with a compromise PROPOSE
tiOn. He proposed that the treasury
shall purchase $4,5OO, 900 worth of AmeI-
ican silver each month; that the certifi-
Gates in payment therefor shall be of
full legal tender quality, redeemable in
lawful money, and that silver bullion
may be coined to meet the demand OF
redemption. His proposition also con-
tanned the national bank redemption
fund feature of the Dorsey bill, and also
a provision that when gold and silver
reach par there shall be free coinage.
1t omits the bullion redemption pro-
vision of the caucus bill, and was,
therefore, Immediately assailed by
several members on that account.
Speaker Reed led the attack. and after
making a speech in favor of including
the bullion redemption feature, vote
was taken, resulting in its insertion in
the Mckinley substitute. This substi-
tute as amended was then adopted. An
effort was made to secure the passage of
resolution binding the Republican
members to support i'll the house this
last caucus measure. Representative
Payson submitted proposition, con-
templating a recognition of the right of
Republican members to offer amend
ments to the bill when it comes before
house. This was negatived, and when
the caucus adjourned there was a good
deal of confusion in the minds OF MEM
bers as to whether or not they were
bound to support the caucus PROPOSE
tion. The committee on rules will de-
eide when the bill shall be brought up
in the house.