The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-10-15
RUM0RS OF COMPROMISE.
4 hill That MAY BE OFFERED I'm
JHE SENATE ON MoNDAT.

IL Proposes to Continue the Sherman Act
Four Years Longer, the Purchase OF
Silver to no Reduced 60 100000 Ounces
Montht Authorize the Issue OF Per
Gen. Five-yenr Bondsj Retire All Notes
Gnder $40 and Substitute Therefor silver
Certificates or Coined Silver, tho silver
bullion Now IN the Treasury and tho
seig niornge TO Be Coinc for that Purpose
WASHINGTON Oct. 14.-To-day tho air has
been pregnant with rumors OF compromise.
rumor current among the silver men this
IN morning was to the effect that the Administra-
ton was framing n compromise measure
based on reduced purchases OF silver-prob-
ably two or two and half million collars
worth per month-until a total OF $4,000. 600
worth OF bullion has been purchased. and tho
coinage Of the seiGniotage now in the Treas
ury. This proposition has some attraction for
the silver men. because 1t would perpetuate
the principle OF silver purchases. and also be-
cause it would remove tho necessity for fur
Their legislation on the subject beyond Mr..
Ceveland's Administration. But the most
diigent inquiries among the Democratic Sem
ntors failed t. disclose any knowledge or their
part OF such an Administration programme.
That Senators representing various factions
had been in consultation was. however. an
easily aseertained fact. but the result OF those
conferences Is in many cases matter OF pure
conjecture. Still. enough is known to lead to
the conclusion that mutual concessions were
made, and the staten ents OF Senator'S Justify tho
hope that before next week shall have passed
into history there will be forward movement
toward settlement OF the question that has
been SO long vexing the Senate and the Ameri-
can people. Just what the compromise will
DO cannot be said. but the idea that meets
with most favor contemplates the foowin:
provisions:
The repeal OF the Sherman act to take place
four years hence. the purchase of silver bull
lion being meantime reduced to something
like two million ounces a month: an amend
ment to the law OF 1875 authorizing the Secre-
tary OF the Treasury to issue bonds. SO that
such bonds shall be redeematle five years
from date and that the interest shall not OK
coed 3 or 81 per cent: the retirement Of all
Treasury and other notes under ten dollars in
value when they shall come into the Treasury
In the ordinary course Of business. and the
substitution therefor OF silver certificates or
coined silver. the bullion now in the Treas
ury and the seigniorage to be coined Tor
this purpose. The first intention was to
have the amount OF the monthly purchase
remain as at present until the time for the
repeal to take effect July. 1895. but the
amount OF bullion to be purchased monthly
was reduced and the time extended. as 1t was
thought this would be more acceptable to the
silver men from tho West.
A Senator prominent in the discussions TINT
have been taking place said to-day that he did
not think that thu Administration would caro-
to assume the responsibility OF vetoing such q
ompromse. and that there was no necessity
for fear on that score. He frankly admitted
that there were repeal Senators among thr
Democrats who would not support this propo-
sition. and 1t was also likely that 1t might be
antagonized by the silver men from the West
as not being all they wanted. but they would
he believed. content themselves with voting
against it. The loss Of votes on the Demo-
cratic side would. he thought, be compensated
for BY accessions from some OF the repeal Re-
publicans.
There was no caucus on this compromise
idea: for. as this Senator said. Republican aid
is necessary. 1t is the present intention to
formulate The amend ment incorporating these
ideas and offer It in the Senate on Monday or
Tuesday. 1t is hoped that flibustering will
then cease and that the vote can be taken
at once. At ali events this is the programme
now and the men engineering it are sanguine
Of success.
In response to Senate resolution. the Sec
Rotary OF the Treasury to-day sent to that body
a statement OF the amount OF silver bullion
purchased under the Sherman act during the
month OF September. This statement shows
that there were 2.77030S ounces purchased
annd 2.728 TAI delivered for which the Gov
eminent paid $2.026,4 40.