The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-09-13
Senator Faulkner Has His Silver
Amendment Ready.
IT FINDS PLENTY OF SUPPORT.
Provides for Coinage of $4,000, 900
Monthly, Retiring Small Bills.
bastsring Speeches = Repeal OF the
Election Law Coming Up in the
House-wooi Manafacturers. Protest.

wAsH.ssTos CIrY, Sept f2-Develop-
ments. tonight indicate that there Is to be
an early efor. TO put through the senate
an amendment 20 the repeal bill of the
nature outlined by Senator Faulkner in
his speech few days ago Speaking upon
the subject tonight Faulkner said he
would prepare and probably introduce the
amendment within the next day or tive,
possibly tomorrow. It will provide for
the purchase and coinage of 5000, ,0oo
worth of silver per month until The silve
circulation in this country shall amount to
$50. Coo. 600. and for the retirement of all
paper currency less than SO The propo-
sition has developed considerable strength.
The national congress OF business men
met today. 100 representatives, of the
boards of trade of the principal cities be-
ing present. d. r. James. of New York.
called the assembly TO order, saying the
object of the meeting was to urge inmedi-
ate repeal of the purchasing clause of the
Sherman act and consider the financial ln-
teresss of the country. B. III. Warner, OF
Washington City, was chosen temporary
chairman.
The attendance was rather disappoint-
ing, scarcely one-.enth of those who re-
sponded to the invitations sent out by
the New York Board Of Trade and Trans
portafion being present. However, at the
time the invitations were sent out the
present monetary s:ringency had not de-
veloped. The invitation announced the
object OF the meeting to be for the discus
sion OF the financial interests of the coun-
try and TO ask the national congress to re-
peal the Sherman act Mr.. Warner in his
address spoke of this and said ii was in
tended also to ask congress for the ap-
pointment of national non- partisan com.
mission to consider future financial legis-
lation.
Ex-Gov. stannard, of Missouri, vas
elected president of the meeting. and vice
presidents were chosen ffom each of the
states represented. When the committee
| on resolutions reported an effort was made
to hitch on free silver clause in place Of
the anti-silver section. but the attempt
| was q signal failure The resolutions de-
| clare that failure to repeal the purchasing
clause of the Sherman Law viii plunge the
business interests Of the country into q
! more serious crisis than that from which
they are now beginning to emerge. The
president was authorized, if he deemed 1t
necessary IN the future. 20 call another
| convention 70 coHkinEe NE Work aire1uy
begun. After disposing Of other matters
the congress adjourned sine die.
| The vice president laid before the senate
today letter from the treasury depart
ment in relation to the redemption Of
| silver certificates. It.stated that 81. 2T3, o67
in notes provided for by the Sherman act
| were redeemed in silver coin during An
gust, 1898; that si74. .06i, 242 coinage valne)
| of silver bullion purchased under that act
and subject to coinage is now held i'm the
treasury. During August and the first
seven days of September the department
redeemed in silver coin s473, ,s74 in treasury
notes. Only $50. .0s7. 1s5 In silver has been
coined under the Sherman law, and no
| paper money has been redeemed by pay
| ment of gold since March t. except gold
/ certificates that have been cancelled.
The senate finance committee today dis
| cussed, bat took no definite action upon
| the resolutions of PETER and Stewart re-
Iating to national bank reserves and the
| treasury deficit. The committee indicated
| its intention of favorable report upon
the resolutions later. Morgan's bin re-
| peaiing the law providing for the iedemp-
| tion of subsidiary silver coins was also
| ron sidered but not acted upor