Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-08-19

lLaQ-E16 - AS cl4AAos - 4 % 49, - 70
WASHINGTON, D. C., August IS
AS predicted yesterday the Senate
Committee on Finance this morning re-
ported the bill for the repeal Of the
purchase clause Of the Sherman act &C
com panying it by declaration in favor
OF bi-metallism.
A bin had been drawn by Senator
VOORHEES,, and was put before the Com
tee this morning in printed form, the
text being in accordance with the suR-
gestlons Of yesterday. The bill thus
comes an original measure favOrably re-
ported and will probably be known as
the Voorhees, bill. The votes by which
# was reported are those OF Chairman
Voorhees, and Senators Mcpherson,
Morrill,, Sherman, Allison and AIdrlch
the last four named being Republi-
cans. The full text ef the bill is as
follows, omitting the enacting clause:
TEXT OF THE BILL.
"That so much Of the act approved
July IA, 1870, entitled, AN act direct
ing the purchase OF silver bullion aud
issue OF treasury notes thereon and for
other purposes, as directs the Secretary
OF the Treasury 10 purchase from time
30 time silver bullion 70 the aggregate
amount OF 4, 800, 600 ounces, or so much
thereof as may be offered In each month
at the market price thereof, not exceed
ing one dollar for three hundred ana
seventy-One and twenty-five One-hun-
dredths 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and the same is hereby repealed.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 it Is hereby declared TO be the
policy Of the United States 20 continue
she use Of both gold and silver as stand
ard mOney, and coin both gold and sill
yer into money OF equal intrlnSic and
exchaDgeable value, such equality 70
be secured through international agree
ment or by such safeguards OF leglsIa-
tion as will ensure the maintenance Of
the parity in value Of the coins Of the
two metals and the equal power Of
every dollar al all times Ia the markets
and in the payment Of debts.
"And Il IS hereby further declared
that the efforts of the government
should be steadily directed 20 the estab-
lishment Of such q safe system Of BIZ
metsl.ism as will maintain at all times
the equal power OF every dollar coined
or issued by the United States in mar
kets and in the payment Of debts"
SENATOR VOORHEES,
will not, as he had originally intended
ask the Senate 70 fix day fOr the vote
on the bill. He said this morning that
be did not think q vote would be had on
lt for some time as there appeared to
be a disposition on the part OF Senators
% debate the measure FOR an indefinite
time. He will call it up next Tuesday,
al which time be will make a speech on
the financial question generally.
There were no sensational develop
ments Ia the Committee room, but both
sides remained firm and unyielding, the
minority or silver men cOntenting them
selves with the statement that they
would carry 10 the Senate the fight
that was hopeless IN Committee.
Senator Voorhees,, who has always
been looked upon as a champion Of sill
YER, stated frankly 70 his colleagues
that he did not give up one jOt or little
OF his allegiance, but that he believed
the repeal Of the sherman law at this
time would give the people the money
they needed; this did not, be thought,
prevent the ultimate success OF ol-
metallism.
Mr.. Vest then came TO the front with
tho ultimatum Of the silver men and the
five votes rallied to his support, but
went down 10 the face OF superior num-
bers. This ultimStum is bill that eS-
tablishes the free coinage Of silver at
the proposed ratio Of twenty 70 one and
is the only compromise to which the
silver men are disposed TO yield, aud
even that compromise is rejected by
ultra SilVeriteS Of
THE SILVER PRODUCING STATES.
After its defeat Mr.. Vest said be would
offer the bill as substitute In the SEN
ate and make the fight there, this he
subsequently, did.
There has been some quiet talk among
the anti-silver men Of the committee as
10 the chances for q vote and hnal
action on the bill, and IL is ascertained
that while they feel pretty certain the
bin can pass the House, they appear by
no means so sanguine Of the Senate.
There seems to be feeling that the bill
ef Mr.. Vest establishing free coinage az
the ratio OF 20 to 1 may possibly be
successful.
Ip that event they look for the final
triumph Of the administration. The
hills would then 90 TO conference and
IN that stage Of the proceedings the
Senate could without sacrificing the
dignity which IL so jealousy guards, re-
csde from It's bill aud adopt the bill. II
is believed that the members favorable
IN free coinage having by that time put
themselves on record would be willing
~ vote 70 recede aud the straight repeal
would 20 TO the President for his sigma
ture.