The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1893-08-22
VORHEES'S VOTE
Reports an Unconditional Repeal Bill to
the Senate.

|
| the Senate.
| Washington, August 1S.-(Special. J.
| Senator Voorhees,, of Indiana, Went over 10
| the goldbugs today and voted i'll the senate
committee on finance to report an uncondl,
! tiOnal repeal bill. His vote carried the bill
through. Without it the committee was
tie; 5 to 5. The vote stood: Yeas-Voor-
hees, Mcpherson, Sherman, Morrill,, Aid
rich, Allison, the last four being republic
| cans; nays-Harris, Vest, Vance. Jones,
of Arkansas, and Jones, of Nebraska.
The bill as reported repeats the purchasing
| clause of the Sherman law and then de-
| clares for bmetallism
The full text Of the bill is as follows,
| emitting the enactng clause:
| That so much of the act approved July
| II, 1890, entitled an act directing the pur-
! chase Of silver bullion and issue of treasury
| notes thereon, and for other purposes, as d-
| reefs the secretary of the treasury to pur-
| chase from time to time silver bullion 10
| the aggregate amount Of four million five
! hundred thousand ounces or so much thereof
| may be offered in each month at the mar
| ket price thereof, not exceeding 81 for BIZ 30
! grains Of pure silver. and to issue i'll pay
| ment for such purchases treasury notes or the
| United States be and the same is hereby re-
pealed.
And it is hereby declared to be the policy.
| of the United States to continue the use OF
| both gold and silver as standard money ana
| to coin both gold and silver into money INTO
equal interest and exchangeabe value Such
equity to be secured through international
| agreement, or by such safeguards of legisla-
| ton as will insure the maintenance or the
| parity in value Of the coins of the two metals
| and the equal power of every dollar at all
times in the markets and in the payment Oh
debts. 49,. A.,
| And it is hereby further declared that the
| efforts of the government should be steadily
| directed to the establishment of such safe
| system of bimetalism as will MAINTAIN at al
| times the equal power OF every dollar c9l4 4t
| or issued by the states in the market and the
payments of debts.
This hill gives the senate something
tangible to proceed upon and opens the hSht.
| Senator Voorhees, will speak upon 1t Tues
| day. His sneech will begin the c0nsldera-
ton of the bill by the senate.
1t Trap?
| Some of the conservative silver men like
| Judge Cuberson and Mr.. Bankhead are
becoming somewhat doubtful about the re-
| suit in the senate They fear the influence
| of the administration may cause others to
| 90 over to the unconditional men like Sena-
| tor Voorhees, did today. The declaration
| for bimetalsm after the repeal clause. IN
| the bill reported in the senate today, while
| it means nothing. is only catch-penny
| declaration to give them sufficient room 10
| Chamber out upon, and it is possible for such
Il bill to go through. Should such ne the
case, it means the postponement of blmet-
allism for a very long time. This declara-
tion is an overture from the single stand
| ard men. but no one who has studied the
| silver fight which has been in progress III
fajntest idea of standing by such declaration
should they repeal the Sherman law with
ont substitute legislation. 1t is trap INTO
which Senator Voorhees, walked and other
senators are in serious danger OF beng
caught in the same
Discussed at the Treasury.
The treasury officials are now discussing
a plan to supply the threatening deficiency.
in the treasury, to get rid OF the acculhu-
lation of 5000 tons of silver bullion ana
supply the country with $loO,UOO,oOD Oh
new currency. ~ -,
The cash balance on last thursday crop
ned :, half million. The constant tall IN
the cash balance has attracted the atten-
ton of Mr. Carlisle again, and he mas sew
oral MANS under consideration to relleve
this steady pressure. one OF THESE pl',hS
is the issue of temporary loan certifca'es
against the future revenues, such as are
regularly issued by the British governments
hearing | per cent interest.
If the needs of the treasury were all III
the situation it is quite probable that tins
Man wonld be adopted. The need of more
CURRENCY. however, makes the ALTERNATING
r,s,, attractive to Mr.. Carlisle. lt
r.;xlnit,liate transfer OF ti.e sill
6. r{y1f,6nyopurchased under the sherman
@,aw to the silver coinage fund ana 'he
issue of certificates against the big PIE OF
silver at it's coming value 1T would not
be possible for the mint to com the sn! tl
in less than five years i'll connectloh WIN
otbnr necessary coinage but prompt acuon
bv congress would authorize the issue VI
silver certificates of the same denoh'ili"-
tinns and character as those issued unuei
the Bland law. and their lInmeuiate cn u,
Iation. 1t would not even be necessai! ~
Drenarc new plates and DIES, 10! lhe ~ IT,
certificates would be a continuation Oh tno
old issue. and could be printed from 'he
same forms. Even better than thls' ma,l!
If tho notes are already stacked up i'll Wy
treasury waiting to be seasoned anu co',u ~
be maid out before the INK was III! om
tba signature of the president 'pp:oV:ns
the new legislation. 1t woulu pe ou,,
resting upon silver. but the government s
alrcndv owns the bullion, has no use lor
II under the existing laws. and VIII , pus
no more if the sherman act Is repealed. Nv
,,,a of fine silver in this manner "'ui' nv
;nnair the security of the sherman i no.:S'
for they have been treated from 'ne ~ 10 30
serve. H. ;,,;on of the
vents i'm the treasury department., co"iu
be RAPIDLY built up if the department. n n.'
some new paper currency 10 lsHut ~ 700
cbange for gold. The banks ana Tue peo
pie want currency ana tiies W. hos hoen so
cold The currency balance mas pe1i 80
S,adnnad that gold is now beng paiu out
~ IN lint one of the subtreasuries ala !! !!
constantly coming back again. pecHu u
is 90 announcement to handle IN thr olu',' i,o
+r,nsactions of business. 1T VIII not pt
surprising if an amendment CARVING * t %m.
the proposed plan. at least to pad' u; u, the
o,o in the treasury, is offered III ,ne
vote with the approval OF 1he iii''o
oonmi+tee. TO the bill now peho'hh.
P ,nther ' amendment suspendins purchases
Of silver would make complete s"ss iop
the for wh honsh 1he he sN that this
YVES would meet with the approVal
of the president. .
IOWA REPUBLICANS.