Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1893-10-19
REpEAL.ERS TO CONFER.
Much Talk To-day of a COM
promise on Time.
SECRETARY OARLIsLB's REPORT.

He Declares That lr Congress Compoin
Him to Buy the 100000 Ounces .of
silver Every Month. Ihere VIII BE "a
neacit Of Finy millions at the End Of
the Year.
WAsuINoToN. Oct 10.-Compromisc
again seems likely Au important and |
secret conference Of Democratic Senators
who favor unconditional repeal. was held !
last night. Those who participated ia
this conference were placed under the
strictest secrecy The condition which
caused this conference developed late
yesterday afternoon. Mr. Vest, in his
canvass OF the Democratic side OF the
chamber 90 secure signatures 60 call
for caucus Of all the Democratic Seu-
ators, discovered that the following
would absolutely refuse to abide by any
discussion OF o Democratic caucus other
than unconditional repeal: voorhees,,
Villas. Palmer, Lindsay, Mcpherson and
McCaffery, and that none Of the Demo
c. attic repealein would sign the roll at all
At the same time Mr. Vest made
another discovery, which w8s surprising
THIS is that the administration WIS at
last ready to accept a compromise, which
would be discussed Rt a secret mott
ing Of Democratic repeal Senators TO
night
1tsessential feature is the continuation
Of the sherman act up 20 "A limited date
This plan was suggested ia these oils.
patches two weeks ago as Offering au
honorable avenue nf escape for tbs rd
ministrat on from i'8 present dilemma
and as aiiording 90 the silver men an
opportunity 20 submit their case TO the
conntiy and tl test tho truth of their
claim that, while in voting minoi y
in the Senate, they have the
msj iily Of public opinion behind them,
as well az visible majority Of Demo
{ cratic Senators
The proposed compromise fixes the
date at which the sherman act shall
expire at January T. 1895, nlthoug an
5 effort will be made by the silver men to
, extend the dato to the end OF that fiscal
/ year which would be June 30, 1895. Tho
p former date, however. So more probable
The sherman act, under the terms Of
this compromise is to be amended so as
absolutely TO require the Secretary OF
the Treasury to buy the full quantity of
4 500 600 ounces OF silver bullion each
R month, permitting him no discretion
This will eliminate the market price
feature of the present law further
amendment will instruct the Secretary
o TO coin the seignorage, now ia the Treas
IA ury, into silver dollars. This viii 10
crease the currency by S54 0OO COO
IL will be seen that should this conc
: promise be- adopted before The end 0i
October there would be fourteen uonths
during which tho Secretary OF the
}: Treasury must purchase A 500, 600 ounces
n of bullion each month, paying therefor iu
Treasury notes This would increase by
n $63, 600 600 the present silver circulation
q of $5JG, 000 coo, making total Of S6lO,
y zoo. 600 Add 20 this the $5i QUO coo OF
p seigniorage and the $40 600. 0OO of sub
II sidisry coin now existent. aud there
II would be ON January I. 1895, a gr7nc
total OF $3.50, 00O. 600 OF silver coin and
% notes representing silver bullion In The
y Treasury.
+. The great merit which Is claimed foi
. the scheme OF compromise Is that 10 ra
n fers The silver question 90 the people
J. Il adopted, &C would make that the chief
IS issue IN the Congressional elections oi
D. 1894 Should the voters return Go Con
D. gress a majority IN the favor of the fte'
y coinage of silver, OF against it, their vii
|. would be obeyed in either case, and thel'
10 would bs no delay in !the Senate to enao
into law the verdict OF the people thu
u unmistakably expressed at the polls.