The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1893-09-23
A COMPROMISE.
Senator Faulkner's Bill to Set Silver
Coin In Circulation.
Tho nth VIII Withdraw From Circulation
All Notes, Save the Legal frndcr. Green.
backs OF Less Than Ten Dollars, and
substitute Instead Silver Coin.

WASHINGTON, Sept. Ex-senator
Faullsner's amendment to the pending
6nancial bill, to which he referred the
other day in his speech, is looked upon
In some quarters as the possible solu-
ton of the present difficulty. This fact
will, it is thought, tend to loosen the
tension of the contending forces some
what and create feeling of friendli-
ness that is supposed to prccede recon-
ciliation and compromise.
Mr.. Faulkner's amendment with
draws from cirulation all notes, save
the legal tender greenbacks, of demon.
nations less than $40. and substi-
tutes in their stead silver coin,
so that there can be no expansion OF
the currency except rs provided in the
further sections of his amendment. He
belieyes by the withdrawal of these
notes that silver dollars and five and
two-and-a-half gold pieces will circu.
late alongside of each other in the ordi.
nary course of trade.
He provides for the coinage of silver
up to an aggregate of $780, 900, 900, and
when that amount is reached the coin
' sage of silver will cease absolutely. The
cluding subsidiary coin, amounts to
$615, 900, 900, SO that the increase under
this amendment will be $1S5, 1000, 900.
Coinage is to be done at the rate of
$4,000, 900 a month, and at this rate it
will take more than three years to coin
the seigniorage and bullion now in
the treasury, the estimate being made
of course on the coinage value Of the
bullion.
When that period has elapsed the
secretary is directed to buy silver and
coin it at the same rate, until the limit
designated shall have been reached.
Mr.. Faulkner computes that to accom-.
plish this will take about seven years,
and by that time we will have beer
able to determine what the future
policy of the government regarding
silver shall be. BY that time also the
results of any international conference
will have been accomplished, and if an
agreement is to be made the details
can be arranged in ample time to meet
the future.
This, in brief, is what Mr.. Faulkner
seeks to accomplish, and to that end he
will lend his best endeavors, believing
that this is the only solution toward
which all factions can act in harmony.
According to the present programme it
Is understood that President Cleveland
will be waited upon by q number OF
senators for conference regarding the
situation in the senate.
The senators will represent the con-
servative element, and WIKI favor q
compromise. 1t will be represented to
the president that,such bill as is con.
templated by the senator from West
Virginia can be passed through both
houses in twenty-four hours, and that
by this means the present discussion
of the financial question will be ended
for several years, and the country will
know exactly the conditions it has tc
meet.
A careful canvas of the senate ha.
been made, and it is believed by tht
canvassers that such compromise
will be accepted by the silver men
while at the same time many senator.
from states whose people have 6
leaning toward silver, but who have
spoken for repeal, will hail it with de
tights
These senators. trusting in the judg
ment of the president, have declared
their intention of voting as he has sug
gested, but their enthusiasm is not o
that sort that will lead them to stant
out for all time, and insist upon tina
which their own judgments tells then
is not for the best interests of thei
people or of the country in general