The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1893-02-21
1T MUST BE MET.
A Great Struggle About
Silver.
DEMOCRATS HARD AT WORK.
But the Republicans Will Not Help
Them, and the Problem Seems to
Defy Solution.
Special to THE MORNING CALL.

WASHINGTON, Feb. O-Representatve
LivingstO of Georgia is preparing ana will
probably Introduce during the day bill on
the lines OF the understanding reached yes
terday at the conference between Senator
Carlisle and seventeen Democratic members
OF the House representing various elements,
except radical free coinage men. OF the party
on the silver question. The understanding
reached, the men present say, could not be
called definite agreement. 1t was to sus-
pend the silver purchases. to reserve snffi-
Client silver to provide for the REDEMPTION OF
outstanding notes issued in payment of sill
yer, representing the "proft' or difference
between the purchase price and the coin
value of silver heretofore bought. After
this is done, the silver purchases are to be
resumed unless there is new legislation.
Meanwhile the profit will amount to about
$47.000,000. so that 1t will take sixteen
months to coin the bullion. The out-and-
out free-coinage men announce that they
will fight the proposition to the death. The
anti-silver men claim by this compromise
to have caused enough men to change their
views to turn the scale in favor Of the
cloture. provided they could first get another
report from the Rules Committee. and then
hold the votes they obtained last time. The
matter has not yet assumed shape. The
proposed measure is to be sent to the Bank
ing Committee.
The bill was shown to the Republicans
by Tracy of New York, and they were
asked il they would support it. Nearly all
OF the Republican who voted with the anti
silver men last time replied that they would
not do so. 1t therefore seems likely that
the silyer-bullion purchase act cannot gain
the votes necessary to its passage, as the
free-c0inage Democrats say they will refuse
to vote for it. and the Republican detection
more than offsets the Democratic gain made
as result OF the conference. One PROPOSE.
zion. which found considerable favor at the
conference and in the House among the free
coinage men, provided for the coinage Of
the bullion now 10 the treasury and the re-
enactment OF the Bland law. but Williams
OF Massachusetts and other gold men re-
fused absolutely to vote for any measure
providing for further silver purchases in
any amount.
The annual report OF the Director Of the
Mint for 1892 shows the value of the gold
product OF the United States to be
$4,000, 900, about the corresponding average
in recent years. The product Of silver was
81, coo ounces OF a commercial value of
$50. 100000, falling off of $4,000 ounces
from the preceding year. The amount of
silver purchased by the Govern ment during
the year was 81. 100. 1927 fine ounces, costing
S47, 1874, 291. an average OF S71a cents per fine
ounce. From it 6. 333, 245 silver dollars were
coined during the year
The imports of gold aggregate SIS. 1861
056 and the exports SIC. 735, 592 net loss Of
S53, $40, $50. The silver imports were $751;
45o,96s. and the exports S37, 541, 301. The
amount Of money in circulation, exclusive
OF the amount in the treasury, was Sf,6ff,-
32i. 753 on January /. an increase of S13-
$685. 24 during the year. There was an
increase of over So, COG, 000n the gold prod
net of the world during the last calend ar
year. and of this $500. 900 was from Aus
tralia and over 100000 from South
Africa. The total silver product of the
world increased about 1850. 600 ounces. oc-
casioned chiefly by an increase of 1900. 600
ounces in the product of Mexican mines
and 9, 100000 in tho Australian.