The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1893-10-12

|
to dispatch received at the state de-
partment, decided to discontinue the
| bombardment of Rio de Janerio.
NAVAL APPOINTMENTS.
The annual report of G. B. Morton,
| the fourth auditor of the treasury, for
the fiscal year 1893, shows total appro
priations by congress for the increase
of the navy during the last 10 years
amount to $73 1859, and total ex.
penditures $50, 449, ,345; lerving $l773Q =
1874 unexpended,
INCREASING VETERANS PENSIONS.
Representative Carminatti has in
troduced bill increasing the pensions
of veterans of the Mexican war from
$S 10 $12 per month.
CONTINUOUS SESSION.
Opinions differ as much as to the
probable length of the senate's con-
tinuous session as to what the result
of it will be. Silver men will make an
effort tomorrow afternoon to secure
adjournment. but do not expect to
succeed. Their only object in seeking
a vote on this question is to make the
record complete. After the adjourn
meut motion is voted down some one
of the silver advocates will take the
floor and speak until relieved by some
other senator of like views. The lead
ers on the silver side say so far as they
can control their forces they will in
sist that the mojority shall maintain a
quorum. Estimates of the number
who can be relied upon to refuse
to make q quorum range all
the wayfrom 10 to &c. Some the others
will be absent. so it is evi,
dent that the repeal men will have to
continuously be present in quite large
numbers to prevent adjournment. A
majority of the senators admit that a
compromise is the most probable re-
suit of the night session experiment,
but Senator Voorhees, and the imme-
diate followers say the bill will go
through as reported. A careful can
vass of the senate shows that if vote
is reached upon the bill as it stands il
would carry by a majority OF Il, viz,
ayes 149, nays 1S2.
| A SILVER COMPROMISE.
| Senator Squire of Washington state
this morning proposed another amend
nent to the silver bill under considera.
tion in the senate The new PROPOSE,
ton is compromise which embraces
everything demanded by the different
sides of the silver question. 1t pro-
vides that hereafter any owner of
silver bullion, the product of mines or
refineres in the United States, may
deposit it at any mint in the United
States to be formed into standard dol
lars of present weight and firmness for
his benifit as hereinafter stated. 1t is
provided, however, that there shall
only be delivered or paid to the person
depositing the silver bullion such num-
Der OF silver dollars as shall equal the
commercial value of the silver bullion
on the day of deposit as ascertained
and determined by the secretary of
the treasury, the difference. if any,
between the mint value of the stand
ard silver dollars and the commercial
value of silver bullion thus deposited
being retained by the government as
ignoraee, and the gain arising from
such coinage accounted for and paid
into the treasury,
These deposits shall not exceed
$2,000,000 a month. The seignorage
| shall be retained in the treasury as
a reserve fund for the purpose of
| maintaining the parity Of the value
of every silver dollar issued under the
provisions of this act with the gold
dollar issued by the United States.
When the number OF standard silver
dollars coined shall reach the sum of
81, ZOO, 600, 900 then all further coinage
of silver dollars shall cease. These sill
yer dollars shall be legal tender ia all
| payments at nominal or coin value
| and certificates shall be issued to rep
resent them.
So much of the act approved July
| 10, 1890, as directs the secretary of the
treasury to purchase from time to
time silver bullion 10 the aggregate
amount OF 4, 800, 900 ounces is repealed.
| The secretary OF the treasury is au
| thorized by the bill 10 authorize and
| dispose at no less than par in the coin
of the United States, bonds bearing
interest not to exceed per cent. re.
deeinable at the pleasure of the Unit
ed States after five years from Gate,
! with like qualities provided for bonds
at present authorized, the extent
of $500, 900, ,000 and to use the proceeds
thereof for the purpose OF maintaining
the redemption of United States notes
according to the provision of an act
approved Jan. IA, 1875, and for the
further purpose of maintaining all
money OF the United States at par
with the gold dollar.
Hereafter banking associations shall
be entitled to receive from the comp
troller of the currency, upon
compliance with all other
terms and requirements of
law therefor, circulating notes OF
different denominations, ia blank,
registered and countersigned as re-
quired by law to the value at par of
| United States bonds ON deposit in the
treasury in trust for the association,
provided the aggregate sum of such
notes for which the association shall
be liable, at any time shall not exceed
the amount of its capital stock actu-
aliypaid in.