Barton County democrat. [volume] (Great Bend, Kan.) 1885-1915, 1893-10-12
SOUIRES SCHEME.
a Plan That Senators Seem Disposed
to Favor.
TWO MILLION A MONTH.
This Amount to BE Coined Until 1t Reaches
100000, O,OOO-SiIver Coinage Then
to Cease-Provisions for Bonds
and to Maintain
Parity of All
Coins.

WASHINGTON, Oct. 1O.-Senator Squire,
of Washington state, this morning pro-
posed another amendment to the silver
bill under consideration in the senate.
Like his other proposition it strikes out
all after the enacting clause and pro-
poses an entirely new scheme to take
the place of the former proposed by
him, and is compromise which en-
braces everything demanded by the
different sides of the silver question.
1t meets with more approval from lead
ing senators than anything that has
yet been suggested. 1t is understood
that Senators Teller, Allison, Sherman
and others have said that it is the best
compromise that has been suggested.
Mr.. Squire intends to ask that each
proposition be voted upon separately
SO that if some of the propositions are
not accepted others will be.
The new compromise provides that
hereafter any owner of silver bullion,
the product of mines or refneries To-
Gated in the United States, may deposit
it at any mint of the United States to
be formed into standard dollars of the
present weight and fineness for his
benefit, as hereinafter stated; but it
shall be lawful to refuse any deposit of
less value than 500, or any bullion so
base as to be unsuitable for the opera
tion of the mint. 1t is provided, how
ever, that there shall only be delivered
or paid to the person depositing the
silver bullion such number of standard
silver dollars as shall equal the COM
mercial value of the silver bullion on
the day of deposit as ascer-
tanned and determined by the secretary
of the treasury, the difference, if
any, between the mint value of the
standard silver dollars and the COM
mercial value of the silver bullion thus
deposited to be retained by the govern
ment as seigniorage and the gain aris-
ing from such coinage to be accounted
for and paid into the treasury. The
deposits of silver bullion for coinage
into silver dollars are not to exceed the
sum of 81, 600, 600 month. The amount
of the seigniorage or gain is to be re-
tanned in the treasury as a reserve fund
in silver dollars or such other form of
equivalent lawful money as the secre-
tary of the treasury may from time to
time direct, for purpose of maintaining
the parity of value of every silver dollar
issued under provisions of this act witt
the gold dollars issued by the United
States. When the number of standard
silver dollars coined shall reach the
sum of 800, 600, 900 then all further
coinage of silver dollars shall cease.
These silver dollars shall be a legal
tender in all payments at their nominal
or coin value, and no certificates shall
be issued to represent them. So much
of the act approved July IA, 1890, as di-
rects the secretary of the treasury to
purchase from time to time silver
bullion to the aggregate amount OF
4,500, 600 ounces, is to be repealed. The
secretary of the treasury is authorized
to issue and dispose Of at not less
than par in coin, bonds of the United
States bearing interest not to exceed :
per cent. per annum, payable semi-an
nually, and redeema bic at the pleasure
of the United States, after five years
from their date with like qualities
provided for the bonds at present au
thorized to the extent of $500, 900, 900
and to use the proceeds thereof for the
purpose of maintaining the redemption
of the United States notes according tt
the provisions of the act approved Jan
uary IA, 1875, and for the further pur
pose of maintaining all the money of the
United States at par with the gold dol
lar. Hereafter national banking asso
Citations shall be entitled to receiv,
from the comptroller of the currency
upon compliance with all other term.
and requirements of law therefor, cir
culating notes of different denomina
tions in blank, registered and counter
signed as required by law, to the valu
at par of the United States bonds OF
deposit with the treasurer in trust TO
the association, provided the aggregat
80 f@,. ,..l,
citation shall be liable, at any time
shall not exceed the amount of it's cap
ital stock at the time actually paid in