The record-union., 1893-08-11
Special to the REcoRD-UNroN.

WASHINGTON, Aug. III. = SLOWLY DuJ
surely the lines of battle are being drawn
on the financial question. and before
another day passes the country will prob
ably be acquainted with the full plan of
procedure. 1t is believed that a plan
has been finally evolved to-day which is
likely to win the approval of the major
ity of all elements.
Tonight all indications point to
drawn battle on the floor of the House,
without reference of the question to the
Committee on Coinage, Weights and
Measures. Bland readily acquiesces in
the programme to fight the battle out on
the floor of the House in Committee of
the Whole, and in this arrangement the
anti-sllver men. of course, readily agree.
Two bills, on which is to turn all
discussion of the financial discussion,
were to-day fully prepared and are ready
for presentation. The one drawn by the
anti-silver men is brief and to the point
1t tersely provides for the unconditional
repeal of as much of the Act of July II.
1890, as directs the monthly purchase of
100000 ounces of silver bullion, and issu-
ing treasury notes thereon. The measure
longer, and is unique in being drawn in
a manner which will develop the greatest
possible strength of the free coinage ele-
ment of the House. The first portion of
the bill provides that all holders of 500
or more of silver bullion of standard
weight shall be entitled to have the same
coined into silver dollars at the mints of
the United States. The dollars as coined
are to be legal tender for all debts. dues
and demands, public and private, andany
holder Of silver dollars may at his discre-
ton deposit the same in the United States
Treasury and receive silver certificates
for the same, the number of grains of
silver in the standard dollar to be de-
termined on the floor of the House. The
closing section of the bill provides briefly
for the repeal of the sherman purchasing
clause.
The bill drawn by the free coinage men
is regarded by their opponents, as well as
oy their friends, as the strongest
measure that could possibly be presented
by the silver men, the question of ratio
being left to the House. Silver men al
lege that no excuse can be given faltering
free coinage men for the abandonment of
their principles. If the opponents of free
coinage have the numerical strength, they
can, of course, successfully strike out
every section of the bill relating to free
coinage, and leave only the last section,
which provides for the immediate repeal
OF the Sherman purchasing clause.
The great question still to be deter
mined is, which of the two bills is to have
priority of consideration. The silver men
fear that if the repeating bill should be
first taken up, the free coinage amend
ments which would naturally be pro-
posed might under a strict Interpretation
of parliamentary law be declared not GER
main to the subject under consideration,
the main question being that of repeal.
To guard against such a ruling, and in
sure successive votes on all propositions
to be presented by the silver men, the
latter will demand that the bill of the free
coinage men, which also contains clause
repeating the Purchasing Act, shall be
given priority of consideration.
When the Senate Finance Committee
came together this morning for the
first time this session Chairman
Voorhees,, who had issued the call.
announced that the majority wished
time to discuss and agree upon
a line of action, and therefore de-
sired that the silver question should not
be brought forward at this meeting. The
question was therefore relegated to next
week, so far as the Finance Committee is
concerned. The committee, however,
took up and discussed a proposition to al
low national banks to issue circulation to
the full face value of the bonds deposited
in the Treasury. 1t was urged that the
result of this legislation will be more inn
mediately beneficial than any other that
has been suggested, as it would add
large sum to the money in circulation as
quickly as the notes could be printed.
The discussion indicates a leaning toward
the measure by a majority of the commit
tee.
The Democratic caucus committee
spent the afternoon discussing the dues-
ton Of party policy for the prosecution of
the work of the Seuate. The committee
viii report to a caucus to be held not
later than Monday next.
Speaker Crisp and Secretary Carlisle,
who was Crisp's Democratic predecessor
in the Speakership, were in close con-
sultation this morning. They confined
themselves to the discussion of a rule to
be adopted for the government of the
House, The Administration, it is said.
feels the necessity of the House passing
such rules as will permit speedy action on
the financial question.
Of 357 900 ounces of silver offered to-
day the Treasury bought 322, eco ounces
at S0.75l5.
NEW PHASE OF THE QUESTION.
WAsHINGTON, Aug. IA new phase
of the silver question was presented to-
day in the shape Of an apparently author
lied proposition from London bankers.
backed by the English Government, to
leading New York financiers, in which it
was asserted that if the United States
would maintain the present Sherman law
on the statute books England would re-
new free coinage of silver in India at an
increased ratio of d TO l. a most pains
taking search fails to produce a single
Senator who ever heard the idea sug-
gested. and when the proposition was
uniolded it was seen that both silver and
Gnti-silver advocates were opposed to II.
Coming as it does, from an English
source said Senator Teller, the Presi-