The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-08-19
PROGRESS TOWiRD RIPfAL.
Senator voorhees, Introduces 81 Isil Aci on
panied by n Declaration.

senator voorhees, introduces - ElI !hci on
panied by a Declaration.
WASHINGTON. Aug Is Tho Senate was pre-
sided over to-day in tho absence OF the Vice
President. by Mr. Harris Dom. TennL Presi-
dent OF the Senate pro tom.
Mr. Voorhees, Dem. Ind,) then reported
from the Committee on Finance n bill to dis
continue tho purchase OF silver bullion. and
declaring 1t to be tho policy OF the United
States to continue the use OF both gold and
silver ms standard money. The full! text OF tho
bill is rs follows. emitting tho enactng clause,
That so much Of the net approved July IL 1870 on.
titled An directing the rurchasr o. silver bullion
and OF Treasury notes thereon and for other pur.
poses directs the Secretary OF the Treasury TO our
chase from To time Yer bullion TO the aggregate
Of 800 900 ounces much thereof as may
be offered III each month"; nj the marGet Prc thereof,
not exceeding dollar for threa hundred and saw
yone and twenty-five one hundred his grains nj pure
SILVER. and TO Issue IN payment for such purchases
Treasury notes of tho Uni oil Staiebe and the same
hereby repealed
Aud IL Is hereby declared to he the policy Of the
United States to continue the Of both gold and s'
standard money. md to coin both gold and sii.
yer into money Of equal intrinsic and cSchangeahts
value such equality be secured through uternAtion-
a. agreement by Such sairgUarls OF !egsiailup ~
win insure the alnleuancc Of the ra'y n value "f
the coins of the two metals and tile equal power ct
every dollar at all times in the markets aud In The pay
mcnt OF debts And its hereby further clared that
tito efforts u the Government should be steadily di.
rccted to the establishment Of such sac system OF
btmeta!lism ms viii MAINTAIN At all times the equal
power Of every dollar COINED "r iSsusi by the United
states in the Inarke., aud IA She payment III debts
Mr.. Vest Dem. Mo-. on behalf OF tho
minority of the Finance Committee. presented
n substitute for the bil THO substitute pro-
vIdes that cnch dollar shall contain +b4.4
grains OF pure silver. and $40 grains OF stand
ard silver: that coins hitherto minted rs well
as Treasury notes issued undor tho act OF
July il. 1880. shall he Withdrawn from circu-
lation and exchanged. and that aftor tho ex-
piraton OF two years thy shall cease to no
lega! tender. The final section ropeals tho
purchasing clause OF tho sherman act This
il a Iill that n.tlblI-he~ the free coinage OF
silver at the prurn-rd ratio az 20 10 L..
Tho ill ann substitute we're placed on the
calendar and MIR. Voorhees, gave notice that
he would call up the hl and address tho sem
ate upon Il IN Tuesday next.
The bill Tor the Increase OF national hank cir
culatiOn WAS then taken VI. ani MIR. Allen
lPop, heI.t advocated the adoption OF the
amendment offered by MIN last wednesday
TO suspend interest on tho bonds on whichth8
increased circulation 10 hA~od. Hoypoke from
n dO.k III III" mont row of the DUmocratio
side ui the chamber and made very favora-
bile IMPRESSION ON this, MS !lrst effort In the
In ms judgment the hill would commit the
country to the policy OF continuance Of the
national banking system. aud he believed that
the time had come when safety required tAs