The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1892-06-01

Dir. Hill was not in the chamber when the
vote was taken and no pair was announced
for him. The bill YVES taken up. The full
text of Mr.. Stewards bill is as follows:
Section l. That from and after the
date and passage OF this act the unit
of value in the United States shall be
the dollar and the same may he coined
OF 4l2H grains of silver, or of 25.S grains of
gold and the said coins shall be legal tender
Tor all debts, public or private. That hereafter
any owner of silver or gold bullion may de-
post the same at any mint OF the United States
10 he formed into standard dollars for his bene-
fit and without charge. But il shall be lawful
10 refuse any deposit of less value than 800 or
any bullion so base as 10 be unsuitable Tor the
operations OF the mint.
Sec. .. That she provisions of sec. of ian
act to authorize the coinage OF the standard sill
yer dollar and TO restore its legal tender char
acter," which became law Feb. IS 1878 is
hereby made applicable 10 the coinage in this
act provided for.
Sec. 3. That the certificates provided Tor in
the second section OF this act shall be of de-
nominations of not less than one dollar or
more than $4,000. aud such certificates shall
be redeemable in coin of standard value. a
sufficient sum 20 carry out the provisions of
this act is hereby appropriated out of any
money IN the treasury not otherwise appropr-
ated.
Sec L. Ths: the certificates provided for in
this act and all silver and gold certificates al
ready issued shall be receivable for all taxes
and dues to the United States of every de-
scriplion and shall be a legal tender for the
payment of all debts, public aud private.
Sec. s. That the owners of bullion deposited
for coinage shall have the option TO receive
coin or its equivalent in the certificates pro-
vided for in this act and such bullion shall DO
subsequently, coined.
The debate on the bill was opened bv
Nr ort ruD wa fnli hxrM r
Teller. The latter contradicted most posi-
lively statement quoted by Mr.. Sher-
man, to the effect that ii silver went up to
Sl.29 per ounce, the product of silver in
this country would be quintupled. Such
q statement, he said, was made in the
grossest ignorance or In the most malicious
mischief. There was no possible excuse
for such statement; and vet the senator
from Ohio had given to it the sanction OF
his authority. The u. 5. delegates to the
international bimetallic conference would
be met with that statement at the frsi
meeting OF the conference. What
the silver men complained of was
that the action of 1873 in the
characterization of silver had appreciated
gold at least 40 per cent. 1t had reduced
the price of agricultural productions and
the value of farms, houses and lands, ant
it had reduced tho wages of the people Of
the country. The question, he said, was
big enough for discussion, and he hoped
that senators on the opposite side of the
question would find time to give to the
American people some arguments on the
subject. No senator took the floor to con
tinue the debate when Mr.. Teller con
cluded During the first part OF his speech
Mr.. Hill came into the chamber aud took
his seat, where he was engaged for some
time in conversation with Mr.. Stewart
He did not seem at all interested in the
speech and left before 1t ended. The sen
ate went into executive session and soor
adjourned.