New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-01-16
THE SILVER BILL INTHE HOUSE
GREETED IN THAT BODY BY DEMOCRATIC
APPLAUSE.
OPPONENTS OF FREE COINAGE TO STAND FIRM
TEXT OF THE BILL PASSED BY THE
sENATE-THE SILVER POOL" IN
,,rcrrC TING COMMITTED
my TELEGRAPH TO TIE TRIDUNE.l

sENATE-THE SILVER POOL" IN
vEsTIGATING COMMITTEE.
IpY TELEGRAPH TO TIE TRIDUSE.l
Washington Jan. 15-The Free Coinage bill reachea
the House from the Senate this afternoon and was re-
ceived with Democratic applause. II was aferwam
referred under the rule to the Committee on 'oasH'
The free coinage men in high feather and predict
the early passage Of the bill in the House by decls
i've majority they declare that none of the twenty
two Democrats who voted against free coinage NJ the
last session will dare 10 do again, and they expect
large accessons from the Republican side II brouSht
u vote the bill be passed, but 1t does not seem
probable that its friends strong enough 70 oVeuo
an executive veto. The opponents OF the measure arc
extremely firm and it is by means certain that inc
hill Will be sent to the President in its present form
before March 4.
The prospect Of speedy action is somewhat clouded
bv the silver pool" investigation which was orueren
BY the House on Monday and will probably bcgih oeloo
the end of the week. The investigating couihi'ro
which wa. appointed to-day is regarded as an UNUSUALLY
strong one. Mr.. Dlngley, the chairman, Is one u
| the most thorough and painstaldng members oi inc
House. and he commands the confidence and respect
OF everybody who knows him. With him are 10 Do
associated Mcssrs. Payne, OF New-iorK' howell Va
Illinois, Oates, OF Alabama. and Peel, OF ArRlhsas-
all of whom are lawyers. The first three OF them
ar. we'll known. Mr. Peel is not well known
but he has the confidence of his parry
associates by whom he is vOuched for as eoou
LAWYER and man Of ability and integrity Inc l'"'
refusal of the mover OF the resolution, MI Do'hc -
to serve as a member Of the committee OF lhVcSu-d'o"
was disappointment to the Speaker and surprise u
Mr. Dockery's friends. OF whom do not cohsIuci
his reasons 10 be satisfactory. They cannot uhoeF
stand why il he reagrded the allegations as serious
enouch TO demand an inquiry, he should decline 10
give his services, especially as lie mas become S''
that none OF his colleagues from Missouri eher ~ o
Uouse or Senate concerned in or likely to De ae'
by the investigation In fact, Mr. Dockerys a''uuo
SENS 10 be capable OF no satisfactory explanation
II is understood that the names OF twelve senators anu
ponrcsentatiyes have been suggested those OF men
who NAV be able 10 throw some lgh' on INC s"u'o''
of inquiry but that no specific allegations nave Dc'"
made as to any Of them. Some OF them are sd'u -
be Democrats and some Republicans. lhere II ho
doub+ that the investigation VIII be thorough ana
searching and the efforts OF the investigating commit
tee to get at the truth will be watched with mucH ''
at II is hardly TO be expected that the House
will pass any measure relating 10 silver "mie III"
investigation Is pending.
The Free Coinage bill, which the Senate adoptco i"'o
last night was not in print when it was acted upon
and did not appear officially in type until ths noIni"s
The draft published in The Tribune OF today contained
,h. five sections OF last summers free coinage meas
,re taken By Mr. Vest substitute TOT the H'""i
amendment and its various attachments bu' d! i'
vertence section 8 Of the bill OF Juie - VIZ, 49,
| added 10 the Vest measure That section was ro'
4 4ha pOTfNr
to houscs AS TO freeconage and became part ol 'o
| ,r 90 IuIv ID 1890 which Is now operative. III
c+io, Q Mr. Vest also made verbal change necessary
90 rone,l the limited coinage clause OF the law OF i7Vo
instead Of that OF 1873 The bill consequently rcd''
| with these slight notifications, AS follows
That from and after Of the passage OF THIS act '
:, I,o g, the United States shall be the dola'. and
M anne NAV be coined 412 grains Of standard SILVER or
OF % $40 grains standard gold and the sara cons
he legal tender for all debts public ana lfN@N LIZA"
r1dI hui linn ma
~ =, ,,v mint OF the United States 10 be formed mo
,,rd,rd dollars or bars his benefit and Without ''s'
mn, q shall be lawful refuse any deposit Of .cas '@uo
"a, s1oo or any bullion base a. " DC uLstlbc Tor to
| operations OF the mint 49,. -. .
Gao That the provisions OF Section OF ian act n
authorize the coinage OF the standard silver uoa' anu ~
restore It's legal tender character" which became "a"
February %, 1873, is hereby maze appl''"oi' " VIZ
coinage IN this act provided for ,
&C That the certificates provided for in The secohu
section Of this act shall be Of denominations oil not ~
o,o nor more than one hundred dolar' ana such 'rl
caes shall be rcdcemable in coin II staoaId Vau'' y
sufficient sum carry out the provisions OF '' "c' -
br, auprourated out any money In the treasury 10,
otherwise appropriated So much Of the act OF july 49,
1890 entitled act directing the purchase o. S'N'I
u,o and the issue Of Treasury notes thereon and TO-
other purposes" requires the purchase OF 1'oVoO'
ounces OF silver bullion per month be ana inc Sne
| hereby repealed .., ~,
and all silver and gold certificates already issued Sn@ u"
receivable for all dues to the United States Of
every description. and shall be legal tender Tor he pay
| ment OF all debts. public and private
Sec g. The owners Of bullion deposltcd Tor coinage
shall have the option receive coin or It's equivalent u
the certificates provided for IN this act and such bdo
shall be subsequently coined
The news of the passage of the Free coinage ShF'f
hill ly the United states senate disturbed the recent
bull sentiment Of Wall street yesterday The stock
market reflected the fears Of the conservative ba1"
element by general declines Of more than ! per cent.
The foreign exchange quotations we're advanced i'i
sterling and While the principal reason was said 10 be
due 70 the scarcity Of commercial bills, II was al
mltted that there had been buying from ioar ~
| silver imitation. There Is general opinion III wal
street that the Senarc bill will not pass the House OF
Repreentaves and President Harrison il relied upon
| 70 veto the measure should it possibly come before
him. III spite of these barriers the action of the senate
h,s aroused anxiety, and stockholders regret tc III
PRODUCTION of an element Of uncertainty in the financial
| stuaiIon As the confidence If the community Is re
| vlvIrC The friends OF silver In the street are
urDsed at the failure advance Of the price OF inc
metal or of the bullion certificates ait III AZ lIc -"
! Exchange. Ti,cy ;ueGe that the prospects for free
coinage are not bright many persons suppose, D.
cause there Is speculative response III the ndiAtis
| CIerc is said 10 he quiet holIdng OF god GER
| Gcltcs already in view OF the success Of Tie fro:
| coinage party in Washington.