St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-02-21
CONFER ON SILVER.
Democrats Meet Senator Car
Isle and Discuss the Sill
YER Question.
AS q Result q Substitute for
the Cate-AndreW Bill Is
Drawn Up.
Free Coinage Men Say They
Will Fight 1t to the
Death.
Production Of Precious Metals
in the United States and
the World.

= WAsHIN GToN, Feb. 2O.-Represent-
alive Livingston, of Georgia, has pre-
pared and will introduce bill on the
lines of an understanding reached yes
terday at a conference between Senator
Carlisle and seventeen Democratic mem
bers of the house, representing the va
rious elements Except the radical Tree
coinage mem of the party on
the silver question. The under
standing reached. for men present
say that it could not be called ga defin-
lite agreement" was to suspend silver
purchases, to reserve sufficient silver to
provide for redemption of outstanding
notes issued in payment of silver, rep
resenting profit" or the difference be-
tween the purchase price and the coin
value of the silver. Purchases are to be
resumed unless there is new leglsla-
ton meanwhile. The profit amounts to
about S47,000,000, so that it will take
sixteen months to coin the bullion. The
out-and-Out free coinage men announce
that they will fight the proposition to
the death.
This is the full text of the bill which
is proposed as substitute for the
Andrew Cate bill.
That the secretary of the treasury
snail set apart SO much OF the silver
bullion, at the coinage value thereof.
purchased under the act entitled AN
act directing the purchase of silver
bullion and the issue of treasury notes
thereon, and for other purposes APP
proved July IA. 1890, as may be neces-
sary, including the silver dollars here
tofole
Coined Under Said Act.
to redeem all the outstanding United
States treasury notes issued in payment
for silver bullion so purchased, and
shall retain the same in the treasury to
he used for that purpose only. and he
shall cause the residue of the silver
bullion purchased under the aforesaid
act to be coined at the rate of $1,000,
600 per month into silver doll
ars of the weight of four hundred and
twelve and a half grains troy of stand
ard silver, as provided in the act of Jan.
IL. 1887. Oh which shall be the devices
and superscrlptionS provided by the act,
which coins, together with all silver
dollars heretofore coined under the pro-
visions of said act of July IA, 1890, shall
be legal tender. at their rOminal value
for all debts and dues, public and pr-
vate. except when otherwise expressly
stipulated in the contract. The standard
silver dollar coined under this section
shall be covered into the treasury as a
miscellaneous receipt
.sSecond-Any holder of the coin au-
thorized by this act may deposit the
same with the treasurer of the United
States, or any assistant treasurer, i'll
sums of not less than $40, and re-
eeive therefor certificates in denomna-
tons of 81, 81, S. and $40 and multipleS of
SO corresponding with the denOmne-
tons of United States notes. and the
coin deposited or representing such GER
tihcates shall be retained in the treas
ury for the repayment of the same on
demand. Such certificates shall be re-
ceivabe for customs, taxes and ali pub
lie dues, and when so received
May he Reissued.
"Third-The secretary of the treasury
is hereby directed to suspend the pur-
chase of silver bullion under the said
act of July ~, 1890, until the residue
of the silver bullion belonging to the
United States has been coined as re-
ouired by the first section of this act"
The bill was shown to the Republic
ans by Mr.. Tracy, of New York, and
they were asked II they support Ii.
Nearly all the Republicans who
voted with the anti-silver men last
time, including Mr.. Reed. replied
that they would not do so. 1t, there
fore, seems likely that this last
attempt to repeal the Sherman silver
bullion purchase act cannot gain the
votes necessary to its passage, as the
tree coinage Democrats say they will
refuSe TO vote for it. and the ReDub-
lican detection more than offsets the
Democratic gain made as a result
of the conference. One proposition
which found considerable favor at
the conference and in the house among
free coinage men, provided for the coiE-
age of the bullion now in the treasury
and the re-enactment of the Bland law,
but Williams. of Massachusetts, and
four other gold men refused absolutely
to vote for any measure providing for
further silver purchases in any amount.