The herald., 1893-08-15
A Hitch in the Programme Of
the Anti-Silverites.
House and Senate Working at
Cross Purposes.
Unconditional Repeal Of the Sher-
man Law Is Impossible.
The Senate Prescribing an Entirely Dif-
ferent Financial Remedy-Vest
Makes q Strong Plea
for Bimetallism.
By the Associated Press.

BY the Associated Press
lsWAsHINGroN, Aug. 14.-While the
debate over the question OF
free coinage or repeal is progressing in the
house, wi tn no prospects of vote until
two weeks from today, the indications
are that the senate will devose its first
legislative action to an entirely different
remedy for the financial stringency-
that of permitting national banks to
issue currency TO the full par value OF
their United States bonds on deposit in
the treasury. Thus, the two bodies will
be working somewhat at cross purposes.
and out of the complications toensue NO
one knows what will finally evolve.
Developments in the senate today
we're decidedly discouraging to those
who hoped for the unconditional repeal
of the Sherman law. The Introduction J
by Senator Voorhees, of an increased
currency bill and it's reference to the
committee of which he is chairman in
dieate that the finance committee will
first seek relief in recommending an
Issue of national bank notes to the par
value of the bonds deposited. and that
the question of free coinage and repeal
of the Sherman act be relegated to the
future for more leisurely consideration.
Later in the day when Senator Vest
reaffirmed his allegiance to bimetalism
and spoke against the unconditional re-
peal of the Sherman act, the repeating
men found greater cause for disappoint.
ment.
When the senate met an avalanche OF
petitions was presented and referred.
Some prayed for the repeal of the pur-
chasing clause of the Sherman act, quite
as many against repeal, several for freer
use OF silver as legal tender in the United
States, and some for free coinage o. Sill
yer at the ratio OF l6 to l.
Perkins, Republican, OF California,
made HE debut in the senate with the
presentation OF various memorials from
| the San francisco chamber OF commerce
for che en- s.csment OF a substitute tor the
/ purchasing clause OF the Sherman act !;
for the annexation of the Hawaiian isl
snds and in favor of the Nicaragua
canal.
At this point the national bank note
bill was introduced by Senator Voorhees,,
chairman of the finance committee. Ac.
companying the bill was letter from
Secretary Carlyle. saying In part
1.-The enactment OF such law would
enable national banks to issue and put
in circulation at once ON bonds already
deposited with the treasury about $l9,-
00O,0 900 in currency In addition to the
amount now authorized; and this, in
my opinion, would afford very consid-
erable measure of relief to the country
under the existing circumstances. I
therefore recommend the passage the
BILL"
Mitchell (Republican) OF Oregon gave
notice of an amendment to be offered to
the Joint resolution to maintain the
parity of gold and silver. The amend
msnt, after long preamble. declares it
the senae of congress that no change be
made in the tariff laws during the fifty
third congress.
Veat (Democrat) of Missouri intro
duced bill for the coinage of the silver
bullion in the treasury, srying 1t was
sent him from New York and met his
hearty approval. 1t provides after set
ting aside in coin and bullion as reserve
such an amount of silver bullion purchas-
ed under the act of July, 1890, as shall
equal at the coinage value the aggregate
sum OF treasury notes authorized by
that act that all the remainder of such
bullion be deemed available for the
issue of silver certificates, such re-
mainder of the surplus bullion to be
coined into standard silver dollars and
such dollars to be used for the redemp-
ton of silver certificates as now required
by law provided thae this shall not be
deemed to sitter or amend any provision
of the act of July, 1890. The second sec
tion provides that national banking as
sociatons he entitled to receive circu-
lating note1 of the value at par of the
United States bonds. on deposit, not,
however, to exceed the amount OF capi-
tai stock actually paid in.
Stewart sent to the clerks desk to
have read an article from the New York
Record headed "Give Us Free Silver"
After portion OF the article was read,
objection to further reading was
made by Hoar and Hawley, and
the article was ordered printed
az document, Stewart remarking that
the Recorder was the first great paper
in the city of New York that had said
word against the annihilation and de-
struction of half the money in the coun-
try, and that it showed other that the
sentiment OF New York on the subjectof
silver was changing, or that the Re-
corder was very brave paper.
Hoar gave notice that he would to-
morrow call up his resolution as to the
Montana senatorial case, and would,
after Wednesday, press it to conelu-
sion.
Butler OF South Carolina today intro
duced bill repeating the state bank
tax.
PETER of kansas introduced bill for
the issue OF $500, 100000 of fiat money
exchangeable for government bonds at
par.
Palmer of Illinois introduced bill to
provide for the erection of government
building in Chicago on the present post
eilice site. to be finished in Is months
at cost OF 81 100000.
Senator Hill of New York introduced
resolution declaring it the sense Of the
senate that nothing but financial legis-