The record-union., 1892-05-27
STEWARDS BILL TAKEN UP AS ON-
FINISHED BUSINESS
Provides That Any Owner of Silver
May Deposit the Same at Any
United States Mint, to be Coined
Into Standard Dollars without
Charge to Carry
Out the Provisions of the Exclu-
sion Act Discussed in the House.
Special to the REcoRD-US1oN.

the free silver proposition had any hope
that anything in the semblance of such a
bill could be gotten before Congress at
this session: To-day, as the result of an
adroit move on the part of Morgan, the
Senate was obliged to suddenly record
itself on what the free coinage Senators
call square issue. AS result of to-
days proceedings Stewards free silver
coinage bill is before the Senate as unfin-
ished business. 1t has displaced the alien
bill. The outcome cannot be predicted.
The anti-silver men say to-day's action
means only profitless discussion of the
silver question. The silver men say it
means the speedy passage of the free sill
yer bill.
Senator PETER introduced bill to in
crease currency, to provide for circula-
ton, reduce rates of interest and estab-
lish bureau of loans. 1t provides for a
bureau Of loans within the Treasury De-
partinent, to be conducted by three Com
mISSiOnerS, and bureau to establish
loan agencies at the capital of every State
and Territory. The business OF these
agencies is to be to lend money to the
people; no loan to be less than SIO0 nor
more than s., 800 to any person or family,
and no loan TO lie granted except to buy
or save home.
The funds to carry out the Act are to be
provided by the issue of Treasury notes
to the amount of 81 90 for every dollars
worth of gold and silver coin and bullion
| belonging to the United States. The bill
prohibits banks or corporations from
taking more than 3 per cent. interest, or
4 per cent where loan extends over one
| year.
| Mororop ,oc,,,,aJ b;S ,ro,,,,,o,,+ ~, L.,
silver resolution. He did not conceive
| that the President OF the United States,
an avowed bimetallist, would undertal e
to set up his judgment finally, and in the
| form OF Il veto, against the expressed will
OF both branches OF Congress. The Pres
! ident, he hoped earnestly, would defer to
the Judgment of the people, and would
espouse with pride the idea that the
American people intended, i'll their final
| legislation, not only to take the lead,
which would answer their domestic pur-
| poses, but also to control the other nations
OF the earth to large extent in their
| financial operations. There is no ques-
! ton to-day before the people ofthe United
States that came so near to their hearts
and pockets as the question of the free
coinage of silver. The people were not
agitated about the changes of the tariff
| " e had other Presidents veto silver bills.
| and what became of them? There is a
very prominent gentleman now before
! the country, whom every Democrat in
! the United States honestly loves and re-
veres for his manly integrity, his broad
craftsmanship and his splendid admin
| iStration of government; yet because the
| Democrats love the people better than
| they do him, they would see him go to his
political grave in one moment rather than
take him and put him where he could
| have opportunities to Join hands with the
| in in ,I
death blow to silver The Democrats OF
| this country would not know, in the
| event of Grover Cleveland being at the
! head of their ticket and of the Senator
from Ohio being at the head of the other
| ticket, which to prefer in regard to their
attitude to destroy silver. l suppose the
gratitude of these men who have been
enabled to expand and contract the cur
rency of the country would give the Sen
ator from Ohio the preference over the
ex-President.
At the conclusion of Morgan's address
Sherman took the floor to reply, and con-
| tinued until the morning hour had eX-
pired, when the resolution went over
without action.
Stewart moved, in order to afford Sen
atOrs to have q test vote, to take up the
bill introduced by him and reported adj
versely by the Committee on Finance,
ito provide for the free coinage Of gold
and silver"
/ The motion was agreed to-2S to 90,
| Hill was not in the chamber.
Following is the vote in detail:
Ayes-Allen, Bate, Butler. Cockrell.
| Coke, Colquitt, Harris, Jones of Arkan-
sas, Jones of Nevada, kenna Kyle, Mills
Mitchell, Morgan, Paddock, PETER.
| Power, Pugh, Ransom, Sanders, Shoup.
Stanford, Stewart, Teller, Turpie, Vest,
Voorhees, and Walthall-2S.
| Noes-Cameron, Cullom, Davis. Dawes.
| Dixon, Dolph, Gallinger, Gray, Hale,
| Hawley, Higgins, Morrill,, Palmer, Per
llins, Proctor, Stocllbridge, Villas, White
and Wilson-20.
The bill was then taken up.
Stewards bill provides in substance
that the unit of value be dollar of 4l2I
grains of standard silver, or 25S grains oi
standard gold, said coins to be legal
! tender for all debts. Any owner of silver
or gold bullion may deposit the same in
any mint of the United States, to be
| forced into standard dollars for his benefit
and without charge, but it may be lawful
| to refuse any deposit less than SlCO
valueEof base bullion. .@.Section 3 of the
Act of February %, 1873, is made applica-
bic to the coinage provided for, the
certificates provided for to be of denom-
nations not less than 81 ,0G0 nor more
than $4,000, and to be redeemable in
coin or standard value. These certifi
SoSSc, eiIiNi IlLOSC SeiIy ISSu6u, 10 De re-
ceivable for all taxes and dues and legal
tender for all debts. The owners OF
bullion deposited for coinage have the
option TO receive coin or its equivalent
in certificates provided for, and such
bullion is to be subsequently coined.
Debate on the bill was opened by
Stewart, who was followed by Teller
The latter contradicted the statement
quoted by Sherman TO the effect that il
silver went up to 81 20 per ounce the
product of silver in this country would
be quintiuled. There was no possible
excuse for such a statement, said he, vel
the Senator from Ohio gave il the sane.
ton of his authority, ana the United
States delegates to the international bi.
metallic conference would be met with il
at the first meeting of the con nference
What the silver men complained OF was
that the Act of 1873, demonetiZing silver
had appreciated gold at least forty PEI
cent, while it reduced the price of agri
cultural products, value of farms, house.
and hands and wages of the people
The Senate went into executive session
and soon adjourned.
THE HOUSE.
WASHINGTON, May 26.-The Hous
went into Committee of the Whole on th,
sundry civil bill pending the question o
the Sunday closing OF the Worlds Fair
The committee proceeded TO the con
sideration of the clause appropriatins
$50, 900 for the enforcement of the Chinest
Exclusion Act. To this a substitut,