The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-10-07
SILVER AND STATE BANKS.
Blackburn Submits His Amendment
TO the Repeal Bill.

1t Strikes Out the Voorhees, Substitute
and Provides for the Free Coinage Of
Silver of American Production-But-
Ter Speaks in Favor of Repeating the
Tax on State Banks.
Washington, Oct. 6.-In the Senate to-
day Mr. Blackburn of Kentucky sub
mitted an amendment to the bill repeal
ing the silver purchasing clauses of the
act of 1890. 1t strikes out the Voorhees,
substitute, then leaving the bill as it
passed the House, and thus provides for
the free coinage of Silver of Ameican
production. The Secretary of the Treas
ury is authorized on the first day of each
month, to establish the seignorage
to be charged during the fol
lowing months, which is to be
the difference between the market price
Of silver bullion and the market value of
the coinage. The seignorage is not to be
coinage, but is to be sold by the secretary
Tor gold to be used for the purpose of
maintaining the parity of gold and silver.
ms IS the amendment which MIR. Black
buIn IN his recent speech said he would
propose with view of reaching compro-
mise
The debate on the repeal bill was then
continued by Messrs. Call and Butler,
Doth Of whom opposed the bill.
Mr. Butler devoted the larger part OF
ms speech to-day to an argument in favor
VI tne repeal of the tax on state bank cir
culadon, taxing the position that the tax
was unconstitutional. This led to de-
Da(e, Participated in by Messrs. Dolph,
A3IlAson, sherman and others, and then
! Nj MI Teller resumed his speech against
'ne repeal BILL commenced some time ago.
EXCLUSION OF CHINESE.
"A communication from the treasury
department was laid before the Senate
supplemental to the recentletter from the
uuePdftment relative TO the appropriation
necessary for the execution of the Chi
ueSe exclusion act.
Mr. German, dem, of Maryland, pre-
TIen55eu a memorial signed, he said, by
seauihg merchants of Baltimore, repre-
SSgn55lng he supposed, two-thirds of the
fSaue and commerce of that city, praying
-O5 speedy action on the repeal bill.
Nj. MF. Allen, pop, of Nebraska. offered a
resolution, which went over, calling for
7nl lotudton as to whether the govern
money 1919 --''N'
M ne 6 resolution, heretofore offered by
o1r, P!eiter, pop, of Kansas, for a select
n noulLllltee to inquire what legislation is
NJ .tggssdry to improve the banking system
NJ Ie country, was then taken up and
h., stewart spoke upon it. He confined
tb 1nS 81 10 criticism of the Secretary Of
5 5oe d treasury for failing to purchase A..
WV ounces of silver per month and
Cow ,Sp, over much of the ground, heretofore
"tEtred by him
aos 'lr. Blackburn of Kentucky sent to the
tsr 95 ana had read the amendment in
naa l1 Fl,, TO be proposed by him to the re
NJ ~. pm II provides for the free coinage
ter a liver OF American product on and af
THE BANKING SYSTEM
b, Inc debate on resolution to inquire
bg n NT banking system was continued
An refer, It's author. MIR. McPher
! er ru aein, of New Jersey, moved the ref
On Fl, OF the resolution to the conmitte,
5ss- I'm, dem, regarded the resolution
H|fl a9ft 70 deprive the finance com
o.. To-. ITS proper functions. aud there
a thought 10 should not be adopted
d vote Of 30 yeas 10 nays the reso