Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1893-08-17

WAsu1NGToN, Aug. 14.--Iu the Senate
Today Senator Voorhees, introduced a bill
authorizing the issue of national bank notes
to the full value OF bonds deposited. 1t ia
accepted by letter from Secretary Car
USE recommending its passage as a measure
pf immediate relief and saying that it will
add Sly, 900, 600 to the circulation. 1t was
referred to the finance COMMITTED
Senator Hill introduced to day resolu-
ZION declaring 1t TO be the sense of the Sen
ate that nothing but financial legislation
shall be undertaken during the special ses-
sion. 1t was laid on the table.
Senator Vest introduced in the Senate a
bill for the coinage of the silver bullion in
the treasury, saying it had been sent to him
from New York and that it met his partial
approval. 1t provides that after setting
aside coin aud bullion as a reserve such an
an amount of the silver bullion purchased
under the act of July, 1890, as shall equal
at the coinage value the aggregate sum OF
treasury notes authorized by that act, all
remainder of such bullion shall be deemed
available for the issue OF silver certificates
Such remainder or surplus bullion shall be
coined into standard silver dollars and such
collars shall be used for the redemption OF
silver coin as now required by law, pro-
utter or amend any provision Of the act Of
July, $780,
The second section provides that national
banks shall he entitled to receive circulat-
ing notes to the value at par of United
States bonds on deposit, not however, TO
exceed the amount OF the capital stock
actually paid in. The bill wac referred to
the fnance committee.
Mr.. Gallinger gave notice of an amend
ment which be would OFFER declaring 1T to
BIS inexpelie aud unwiss to change tn
existing tariff laws prior to 1897.
MIR. Hoar gave notcs that he would to-
morrow call Up the resolution as to the
Montana senatorial clause, and would after
Wednesday press it to II conclusion, to the
exclusion of all other business.
Mr.. Vest called up tho resolution offered
by him last Tuesday in the words;
Resolved. That the American people from
tradition and interest favor b-metulism and
2uC free aud unlimited coinage OF both god
and silver without discriminating against
sitEer metal; that it is also the established
policy of the United States to maintain the
parity of the two metals, SO that the debt pay
INK and purchasing power of every. dolla
shall be at all times equal that it is the duty
ot Congress to speedily enact such laws as
Will eiteCtuatc and maintain these objects.
Mr.. Vest argued against the idsa that
pver production Of silver, in relation to
gold, justsfed emonetizatioa of the white
metal; and he quoted tables of gold and
silver production in support Of his argu
ment.
II one half the coin currency OF the couu-
Try were struck down, the burdens OF those
who owed money wuld be doubled, and the
prices of commodities would be put down
beyond computation.
Mr.. Vest repealed the idea Of their being
E necessity for international agreement on
the subject of silver
At the close OF his speech Mr.. Hoar OBJ
tanned the floor and then, after a short ex-
scutive session for reference to committee
Of nominations received to-day, the Senate
adjourned.