The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1893-08-26
IN THE SENATE.
Silver Repeal Bill Reported From the n
nance Committee.

nnnce COmmtttce.
WASHINGTON, Aug. 19.-ln the senate
a motion to adjourn over until Monday
was made on the democratic side, re-
sisted on the ground of the necessity OF
action on financial measures, and fin
ally withdrawn on Mr.. Voorhees, an
nouncing that he would ask the senate
to proceed with the consideration Of
the national bank circulation bill.
He then reported from the finance
committee bill TO suspend the pur-
chase of silver bullion under the Sher.
man act, with declaration in the bill
that it is the policy of the United
States to continue the use of both gold
and silver as standard money and to
coin both gold and silver into money
of equal intrinsic and exchangeable
value.
A substitute for the bill was reported
from the minority of the committee
Messrs. Harris, Vance, Jones (Ark.),
Jones (Nev.) and Vest, fixing the num-
ber of grains of silver in United States
coins at AGA 40 grains of pure silver per
dollar, and proportionately for minor
silver coins.
The bill and substitute were ordered
printed and placed on the calendar, and
Mr. Voorhees, gave notice that he would
call them up next Tuesday.
The senate then took up for consid-
Grafton the bill to allow national banks
to increase their circulation.
Mr. Allen (Pop.) argued in favor OF
his amendment to suspend the payment
of interest on bonds on which the in
| creased issue is based.
The finance committee was in session
cnly IN hour, and the only point OF
contention was over the wording of the
bill, the committee having reached the
conclusion Thursday that they would
take the final action Friday.
| A bill had been drawn by Senator
Voorhees,, and was put before the COM
mittee Friday morning in printed form.
the text being in accordance with the
suggestions of Thursday. The bill
thus comes as an original mea sure,
favorably reported, and will probably
be known as the Voorhees, bill. The
votes by which it was reported are
those of Chairman Voorhees,, and SEN
ators Mcpherson, Morrill,, Sherman,
Allison and Aldrich-the last four
named being republicans. The full
text of the bill is as follows, omittiug
the enacting clause:
That so much of the act approved July IA,
| 1890. entitled: IAN act directing the purchase
| of silver bullion and issue Of treasury notes
thereon, and for other purposes" as directs
the secretary Of the treasury to purchase from
time to time silver bullion to the aggregate
amount Of 4,5O0,000 ounces, or so much thereof
| as may be offered in each month at the market
price thereof, not exceeding II for .S7l55 grains
Of pure silver, and to issue In payment for such
purchases treasury notes Of the United States,
be and the same is hereby repealed
And 1t is hereby declared to be the policy OF
the United States to continue the use OF both
gold and silver as standard money, and to coin
both gold and silver into money into equal in
terest and exchangable value. Such equity &c
be secured through international agreement, OF
by such safeguards of legislation Us will insure
the maintenance of the parity in thevalue of the
coins Of the two metals, and the equal powerpi
every dollar ut all times in the markets in the
payment OF debts.
And 1t Is hereby further declared that the eff
iortS of the government should be steadily di
rected to The establishment OF such u safe sys
TEN Of bimetallsm as will maintain al all times
the equal power of every dollar coined or ISSUED
by the United States, in the markets and in the
payment of debts
Senator Voorhees, will not, as he haC
originally intended, ask the senate te
fix day for the vote on the bill. He
said Friday morning that he did no
think IL vote would be had on it fol
some time, as there appeared to be {
disposition on the part of senators tt
debate the measure for an indefinite
time. He will call It up next Tuesday
at which time he will make speecl
on the financial question generally.