Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-08-19
a SENATE BILL.

WASHINGTON, Aug. 1s.-As pre-
dicted yesterday the senate committee on
fnance this morning reported bill for
the repeal Of the purchasing clause OF
the Sherman act. accompanying u by
declaration In favor Of bimetallisin. The
committee was In session only an hour
and the only point Of contention was over
the wording Of the bill, the committee
having reached the conclusion yesterday
that they would take final action today.
The bill had been drawn By Voorhees, aud
was put before the committee this morii-
accordance with the suggestion OF yes.
tordny, the bill thus comes as IN original
measure, fayornby reported and VIII
probably be known AS the voorhees, bill.
The vote b. which 4 was reported are
those Of Voorhees,, Mcpherson, Morrill,.
Sherman, Allison and Aldrlch, the last
four named being Republicans.
The full text OF the bill is as follows:
That 40 much OF the act approved July
il, 1890, entitled IAN act directing the
purchase OF silver bullion and the Issue
OF treasury notes thereon, and for other
purposes" az directs the secretary Of
treasury TO purchase from time to time
silver bullion ~ the aggregate amount
of 4,50O,0OO ounces, VI as much thereof
as may be offered In each mouth, az
the market prices thereof, not exceeding
81 for 800 aud seventy-one and twenty
five one hundretls grains of pure silver,
and TO issue In payment Of such pur.
dhnses treasury notes Of the United
States, be and the same Is hereby
repealed. And u IA hereby declared TO
be the policy u the United States 10
continue the use Of both gold and silver
rs standard money, and 10 coin both
gold and silver into money Of equal In
trlnsnc and eXchangeable value, such
quality To be secured through information
al agreements or 10y such safeguards Of
legislation az will insure the maintenance
of Il parity In the value Of the coins
Of the two metals mud the equal power
Of every dollar at all times in L., mark
kets In payment Of debts. anu Il Is
hereby further declared that the Efforts
of the government should be- steadily
directed TO the establishment Of such
safe system of bimetnllism as will main
tain at all times the equal power VI
every dollar coined or issued by the
United States In the markets aud In
payments Of debts"
Senator VOORHEES,, will not as he origin.
ally intended, ask the senate 10 fix day
for vote on this bill. lie said this
morning he did not think n vote would
be heard on u for some time as there
appeared 10 be a disposition on the part
of SENATOR 10 debate tile measure for
an indefinite time. lie will call il up
next Tuesday, al which time he will
make a speech on the financial question
generally
Their were no sensational developments.
The minority Of the silver mon, content.
ing themselves with tho statement they
wonld carry 10 the senate the fight that
was hopeless In the committee. senator
voorhees,, who has always btcn looked
upon as q champion Of silver. stated
frankly 10 hs colleagues that he ala not
r,vs up one jot or title of his allegiance
70 silver but he believed the repeal of
'he sherman law az this time would give
ihe people the money they needed This
did not, he thought prevent the ultimate
success Of biuctallism
Vest then came to the front with
ire uliimnium " the siiycrmen and five
votes rallied 70 bis support. but went
down IN the face Of superior numbers
ms i The bill that establishes the FRED
coinage Of llyer at the proposed ratio
OF ~ 10 and Is The only compromise
10 which tho silver men are dlsp1sed ia
Yield aud even that compromise Ia no.
1eeted by the ultra silyciiies from the
producing states. After rs defeat N.at
SAID he would Offer The I'LL as d substI.
tgle IN me senate bnd make the fight
thrre' mis- n subsequently ala
=. There has bcen some quiet tax among
The anu.silvcr men Of the committee, M
70 me chances for a vote and action ON
the, bill and II " nscerained while they
teel pretty certain the bin win pasa lie
hyu,e, they appear by no means sangune
OF NE senate. There seems TO h. a ferl.
lug that th bin Of Mr.. Vest. estabiisb.
lng free coinage at the ratio Of 81 10 /
may possibly be succ, ssful. In tbnt
event they. look for the final triumph 81
,he a1Innisirativn measures. The two
Vln Noulu men 20 to conference. md
at that stage Of proceedings the, sa,,ata
could without sacrificing It's dignity
Mhich y 80 Icalqusly guards. rccede from
" position and adopt the hill Of the
house. l. is believed The members favor.
aule 70 irse coinage, having by that
uine put themselves on record would he
Willing to vote 70 rccede and straight wnv
his signature. ~