The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1891-02-26

ulh ol tAS mousse im mlCtee on C01nag
tJaay submit d to he house, Nv AUTHORITY
of majority Ut y e COmmiuee an adyers
I rslOr, ON the sensle bill for free coinage
silver. The report says under the presen
act $751; ;, 90 annually are being ad led t.
the volume of the currency of the coun ~
, In the form Of trea-ury notes for bullion
purchases. This, it says, largely exceeds
| the contraction by way of the retirement
OF the national bank notes, and at the end
of ten years wi | al the same rate, gradually
| add to the volume of Gu eucythe above
| amount of bank notes. should they all be
r tired $500 900. The Secretary of the
Treasury states that the amount Of surplus
lverin the world above the amount used
in the arts and coinn In all Other coun
tiles than the United States was, for 1888,
| 39,5O0,'tO ounces. If this estimate is cor
| rect under the present law there is "a Dr.
vision for using the world, surplus vii oh
| is all that unlimited coinage c''uld accom-
phi h. The American product in 1888 was
Al, 0O0, 900 ounces and in 1853 $1,000 ounces
IL Is said however thar the demand of the
| present law does not call for all the silver
surplus and that there are now bearing
market ABOUT Is, 100000 ounces which are
sutic enI to keep down the price ofsilver to
It's present selling figure. Whether these
| $50 900 owners are likely to remain a
threat to the market, or whether they are
used by persons as t, mporary means TO
depress the price matter upon which in-
| telllgent persons who have app. AIRED before
the committee ditf,r.
This can be determined by the continu.
| ance Of the present policy of buying no
more than 4,UU,0U monthly, provided for
by the existing law, If the presence OF -
OWOO0 ounces is cont nued only for the
pupose of affecting some change in legisla
ton, and congress should show bv its ac-
ton that 1t intends no change this body Of
silver will be permitted to 20 its way, and
so Will no longer depress the market.
II, on the other hand, this amount of
bullion is in actual excess of the demand,
it will be easy at any future time for con
gress to provide for its absorption i'll the
vnume ~ currency. TO determine this
time is needed.
the pres ut law at the time of its passage
was declared by many dem supporter OF
free coinage to be satisfactory The c,nii-
tons arr substantially as then. b re Lave
been no Important changes i'll our monetary
situation. If the present law wnen pdsSeu
promised to all intents ami pur
poses the u1e of the American prouur,
and auth rizes the issue Of money as
good for all purposes as coined silver is. is
not evident to the committee, whe e il
has failed in that promise, nor wherein it is
in future likely to fail to accomplish that
desirable end.
In view of the foregoing feeling that there
is no need at present for further legislation
and al the same time being not unmindful
of the fac that this congress az its last ses
sion upon a direct vote rejected tue free
coinage of silver provided for in language
identical with thtt in this bill. the mint
tee reports adversely upon the bill and rec
ommenG that it do not pass.
CIVIL APPROPRIATIONS.
WASHINGTON, Feb 81 The Sundry civil
appropriation bill was today adopted by the
senate committee reported to the sen
ate. The appropriations for publ C build
ings amount to $430,00J; Tor lighthouses
steam boarding vessels, revenue cutters,
etc $5!3, 100; buildings for military posts,
$500, 80; ,incred -ed from $69O,00) The
appropriations for surveyors of public
lands is reduced $780, and provision Is
made for the survey of No Maus Land.
The appropriation for topographic surveys
is reduced from $325,0O0 to 5000. The
appropriation for the government exhibit
is reduced from $4,000 to $50 900. Per
mission to SOend IS 100 of this sum for the
Latin American department. is stricken out
The uneX ended balance appropr ated by
act of April 25. 1890 reapJroprt.
ated for the purpose OF add X
the government exhibits solely except thu
from it NAV be rud The salaries for tn
current fiscal year of the president OF The
commission, president of the bo1ri of lady
managers, ana expenses for clerks and I'm
pt0yeS and board + lady managers, not ex-
ceeding 5000. In place OF the sp citic APP
preparation made tor salaries by the house,
the lump sum of 81, 00D is appropriated, to
be expended under the approval of the sec
retary OF the treasury. \ new proviso is
inserted as, ( lows: "And the sew raj sums
herein Appropriated for the Worlds exp =
siiiOn shall b. deemed part of the sum of
$40 0,U00, the limii Of liability Of the United
States on account thereof fixed by act of
April %, 1890.
WHAT Is SAID OF THE NOMINATION..
WASHINGTON, Feb. 81 The nomination
of ex Governor Foster of Ohio to be secre
tary of the treasury was favorably reCeiv,
about the capitol and was very highly COM
mended by men best acquainted with the
new secretary. The Ohio congressman
spoke of him as man of strong personal
worth, large experience as a successful
business man and well acquainted with
public affairs. He is, it is said thoroughly
in accord with the presidents financial
policy and a conservative man whose opin
ions are all favorable to sound
stable currency The Republicans gen
orally expressed themselves well satisfied
with the presidents selection and those
Democrats who were seen said hey had
nothing to say against 1t, conceding that
the president had =, right to select his ad.
vi,ers, however, in accord with his policy
Foster, they said, was thorough Repub
ican and strong party man, but they had
nothing against aim personally.
Foster was elected governor of Ohio as the
representative of sound money over Thos.
Ewing, who was the candidate of the
Greenbackers. 1t is said at the white nous"
that the president are IN perfect accord on
the question of finance and that there IS n.
probability of any change in the financial
policy of the treasury department.
Services at Dallas.
DALLAS, Tex, Feb. 21.-This afternoon an
imposing memorial service on the death of