Pawtucket tribune. (Pawtucket, R.I.) 1890-189?, 1893-08-21
THE T|M|D S|LVER|TES
Are Anxious For a Com
promise Measure.
INCREASE OF CURRENCY.
Anti-Silver Men Disclaim . Silver
Majority in the Senate.

WASHINGTON, Aug. el.-The men who
are talking compromise at present are not
the repealers, but the silver senators, who,
while they declare their ability to prevent
repeal unless given something In its place,
feel the awkwardness Of their position
and the danger of standing out against
public opinion too long.
The only thing at present In the way OF
an agreement Is the stubbornness of the
silver men. who are willing enough to
have the Sherman law repealed II they are
given free silver, but there Is no repeater
willing to agree with them.
1t was stated some days ago that Sem
ator German and the members OF the
steering committee had under considera-
tion general and comprehensive measure
which included among other features the
repeal of the purchase clause, free silver
at an increased ratio, increase Of the ma
tional bank circulation to par and the ex-
change of bonds for currency.
The introduction of Mr.. Voorhees, bill
to allow national banks to increase their
currency to par is the first step In that
compromise.
The passage of the bill would at once
place In circulation some ~, ,0OO, 900 addi-
tional, as ths national banks would i'm.
mediately increase their circulation to par,
but in the opinion Of Senator Sherman IL
would have far wider and more reaching
effects.
He believes that IL the banks were per-
mitted to issue In currency the full amount
of the bonds deposited it would stimulate
and encourage national banks to very
greatly increase their circulation, as Al
additional 10 per cent would make crcula-
ton profitable, while now II is claimed
that 50 long ~ the circulation is rest ricted
TO % per cent there Ii absolutely no money
ia the business.
Senator Sherman stated the other day to
a friend In discussing the bill that It's
Immediately $50. 900 and perhaps an
additional sl0, ,000, 900 or go, 900, 000
What They claim.
That Is one reason why the silver men,
grs sat many OF whom have always been
opposed to national banks and to the pass
age of any legislation favorable to those
institutions are now anxious for its pass
age, ~ they believe, with the banks avail
ing themselves Of the power to increase
their circulation, the currency famine
would soon be thing of the past, and,
with the revival of business, attention
would be di, 'rted from the Sherman law
and the demand for its repeal be much
abated.
1t would therefore be far less difficult
for them to keep up their stubborn opposi-
ton and to finally succeed In firing out
the repealers and securing the adoption OF
compromise measure which would be
agreeable to them.
Another use will also be made of the
bank bill.
1t is not unlikely that before the bill is
finally voted on there will be amendments
offered which will to great extent serve
to show the relative strength Of the silver
and anti-silver men in the senate.
1t has been suggested that free coinage
measure be offered to the bank bill as an
amendment, aud thus the sense Of the
senate could be taken and suoh action
would not in any way jeopardize the posi-
tion of the silver men on the repeal bill
That is, IL a silver amendment should be
carried by the senate, It would, of course,
be useless to further prolong the fight on
the repeal bill by the hard money men,
but il, on the other hand, the votes should
show that the silver men were in the
minority, and their amendment should be
defeated, they would still be able to con-
tinue their policy Of obstruction and delay
by talking on the repeal bill to prevent it
from coming TO speedy vote.
why silver Mon Are Anxious.
The silver men have always claimed
that they have majority In the senate,
but it is claim not concvded by the other
side, and 1t Is not unlikely that both
would be willing to have test vote taken
in an indirect way so as to let them see
exactly where they stand.
But it must be remembered that unless
the repealers are absolutely convinced that
they have majority they would not per-
init an amendment Of this kind to be voted
on, as IL would then render all their
further efforts fruitless and the silver men
would have obtained all that they are
fighting for In the way Of silver coinage
Such an amendment, II passed by the
senate, would have to be also passed by
the house before II could 70 to the presi-
dent
II Is hoped by the silver men to be able
to prevent vote being taken on the bank
bill until sfter the house has voted on the
repeal bill, 80 as to understand more
clearly which prop9pition will command
the greatest strength IN the house.
The prospects, however, are that no sill
YER proposition Of any kind can b. passed
BY the house, and II the silver senator's at
tempt to use the bank bill as a club with
which to kill the repeal and load IL up
with lot Of amendments u will simply
result in the defeat Of the bill and prevent
the country from obtaining the Immediate
relief that might Be given Il In case the
bill was speedily passed without amend
ment
New Yorks Trade unlonlsta