St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-02-10
The House Comm tt2e Will
Report 1t Favopably
Today,
And Speedy Consideration OF
the Measure Is to Be
Forced.
Full Text Of the Amended
Bill as 1t Will Be Pre-
Sented.
Its Merits Pointed Out by the
Authop--Bills in the
Senate.

WASHINGTON, Feb. o. The silver
issue OF the Fifty-second congress, as
defined in the Bland free coinage bill, is
to be ordered favorably reported by the
house committee on coinage, weights
and measures tomorrow morning. This
has been formally decided upon by the
free coinage members of the committee,
and, as the result of the series of con-
ferences of the free coinage men which
closed today, it has been determined
that not only shall the Bland bill he to-
morrow ordered favorably reported, but
that speedy consideration of this meas
ure shall be forced in the house.
Representative Pierce, of Tennessee.
who has been one of the prominent
leaders of the free coinage movement in
this congress. secured the adoption of a
resolution by the committee some weeks
ago which fixed II o'clock tomorrow as
the hour when the final vote should be
taken by the committee on the free coin
age bill. The bill favored by Mr.. Pierce
and which his free coinage colleagues
of the committee today decided should
be favOrably reported tomorrow is the
last measure introduced by Represent
ative Bland, the great free coinage adj
vOcate and chairman of the committee
on coinage, weights and measures.
Eight to Five.
The men who have decided to vote in
committee as unit for the Bland bill
tomorrow, and promptly vote down all
amendments offered by the opposition,
are Representatives Bland, of Missouri;
Pierce, of Tennessee; Robertson, of
Louisiana; Kilgore, of Texas; Epes. OF
Virginia; Williams, of OHIO, Demo
Gratis; Bartine, of Nevada, Republican;
and McKeighan, of Nebraska, Farmers
Alliance. z
AS there are but thirteen members of
the committee, of course these eight
gentlemen will have their own way. and
promptly vote down all amendments
and substitutes and force the Bland bill
out of the committee at tomorrow's
meeting. p
Chairman, Bland has been today franz
ing the favorable report which is to ac-
company his bill, and Hopes to have it
completed in time to admit of the bill
and report being presented to the house
tomorrow and at once placed upon the
calendar. The free coinage men claim
tonight that of the 1872 members of the
house they will have 200 votes in favor
of the Bland bill. Ten or. twelve of
these, they say Will be Republicans
and the remainder Democrats. Of the
opponents to free coinage about forty
will come from the Democratic side.
The Bland bill, as amended by himself
and as it Will be reported to the house,
is as follows:
The Proposed Law.
The unit of value in the United States
shall be the standard silver dollar as now
coined, consisting of 4l21s grains standard
silver, or the gold dollar of 25 $40 grains
standard gold; that the standard gold and
silver coins of the United States shall be a
legal tender in payment Of all debts. public
and private. Any holder Of gold or silver
bullion of the value of 500 or more of stand
ard fineness shall be entitled to have the
same struck into any authorized standard
coins of the United States, tree of charge, at
the mint OF the United States, or the owner
Of the bullion may deposit the same at such
minis and receive therefor coin notes equal
III amount to the coinage value of the bullion
deposited. and the bullion thereupon shall
become the property Of the government
That the coin notes SO issued shall be in
denominations not less than ST. nor more
than $1,000, and shall be legal tender in
like manner and invested with the same
monetary uses as the standard gold and silver
coins or the United States.
Sec. 2. That after the passage of this act it
shall not be lawful to issue or reissue gold or
silver certificates or treasury notes provided
for in the act of July IL, 1890 entitled AN
act directing the purchase of silver bullion
and the issue of treasury notes thereon and
for other purposes" That all such certifi-
Gates and treasury notes when received in
the treasury Shall be Cancelled and DESTROYED
and coin notes, provided tor in the first section
OF this act shall be issued in lieu of the GER
thcates and treasury notes so Cancelled and
destroyed: provided, that nothing herein
shall De construed to change modify or alter
the legal tender character of such certificates
or notes now issued.
Reissue of Coin Notes.
Sec. 3. That the coin notes herein au-
thorlZed may be reissued, but The amount at
any time outstanding shall not be greater or
less than the value OF the coin and the bull
ion at coming value held in the treasury.
That the said coin notes shall be redeemed
in coin on demand at the treasury or any
sub-treasury of the United States, and the
bullion deposited shall be coined as fast as
may be necessary for such redemption.
Sec. 4. That any holder of full legal
tender gold or silver coins of the United
States to the amount of ten dollars or more
may depot the some at the treasury or any
sub-treasury of the United States and receive
therefor coin notes herein authorized
Sec. s. That the act of July Ii. 1890. herein
before cited, be, and the same is hereby re-
pealed.
Sec. 6. That so soon as France shall re-
open her minis to the free and unrestricted
coinage of silver at her present ratio, namely.
fifteen and half pounds of silver to be
worth one pound of gold, troy, it shall be!the
duty of the president of the United States to
make public proclamation of that fact
whereupon the said ratio shall be the legal
ratio in the United States, and thereafter
the standard silver dollar shall consist of 400
grains of standard silver and the law rela-
ting to the standard siN9r dollars of ,412Ie
grains standard silver sS Y be applicable 10
the new dollar of 400 gras,1, standard silver.
That the silver dollars Of 1esS grains then in
the treasury, or thereafter coming into the
treasury, shall Immediately, and as fast as
practicable, be coined into dollars of 400
grains standard silver.
Sec. T.. That the secretary Of the treasury
is authorized and required to make such rules
and regulations as may be necessary to carry,
into effect the provisions of this act.
Bland on It's Merits.
1.-THE bill introduced by me, and
which the majority of the committee.
will tomorrow order to be favorably re-,
ported.'' said Chairman Bland tonight.
''is different from all the other bills i'm
one particular. 1t contemplates the
converting of all our silver money. sill.
yer certificates and treasury notes Isl
sued On bullion and gold certificates
issued OH gold into coin notes redeenla.
BILE in coin. thus converting our paper
into bi-metal paper. instead Of keeping
up the distinction between gold and sil-
yer In our paper issues. Tho depostQrS
of gold and silver bullion have the priv
ilegc of waiting until their bullion Isl
coined and having the coin returned to-
them, or they may deposit the bullioiI.
and receive coin notes at the coin VALUE
of the bullion deposited. The bullion