St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-08-10
TIE SILVER SITUATION
Democratic Senators Do Not
Outline Any Policy.
FDEE COINAGE ADVOCATES
Agree to Repeal If They Get
Unlimited Silver,
AND THE PARITY BETWEEN THE
Two Metals Is Maintained on
a Proper Ratio.
-ssaNT nHFFaVnrn
AND THE PARITY BETWEEN THE
VERY BUSY DAY OF cAUcUSES.

WASHINGTON, Aug. 9.-The develop
ments of today have been such as to
give promise of an early discussion of
the silver question in the two houses of
congress. The Democratic senators,
after caucus lasting several hours,
found themselves absolutely unable to
agree upon any line of action, and finally
adjourned until later in the day, the in
tentiOn of the senate being to adjourn
from tomorrow until Monday in order
TO give opportunity for the fullest infor-
nation and discussion among the sena-
tors of both parties before entering
upon legislation. In the failure of the
Democratic senators to agree upon any
party policy, the advocates of the repeal
of the Sherman law find great encour-
agement. They say that the financial
question has risen above the field of
party politics, and that the crisis of the
hour is not one that will down at the
bidding of
King Caucus.
but must be met and solved by men
whose craftsmanship rises above party
considerations and partisan advantages.
Leisurely, as il always is, the senate,
with membership of only one-fourth
that of the house of representatives,
will probably be behind the popular
branch of the government in meeting
the issue. and will doubtless not reach
full and free discussion of the silver
question until repeating bill comes
over from the house for consideration.
The free coinage men of the house
held caucus today and adopted reso-
luton which will be revelation to the
ultra free coinage men of the West, but
will prove tower of strength to those
who are fortifYing themselves against
an unconditional repeal of the
Sherman purchasing act. The res
OlutiOn adopted at the caucus
is regarded as a masterly stroke on the
part of the silver men. as it practically
aDandOns the ratio of 16 to l and agrees
tG accept snch compromise ratio as
will maintain the parity between gold
and silver. This is interpreted to mean
that the
Free Coinage Men
will be willing to accept ratio of IS or
20 10 l, if free coinage bill is passed
as a substitute for the Sherman bill,
and implies that most vigorous efforts
will be made to induce the radical
silver men of the far West to yield to
the Judgment of the more conservative
free coinage men of that country. The
mOnOmetallists tonight realize that the
action of the free coinage caucus today
will be likely to strengthen that element
in the two houses and render uncondi-
tional repeal of the Sherman act
more difficult. 1t amounts to an olive
branch, aud it comes at a time when no
one expected that such all offer of com
promise would be made by the free
coinage members. Thus, while the ac-
tiOn of the Democratic senators in fail
ing to agree upon line of party policy
has encouraged the advocates of repeal,
the unexpected action of the free coin
age members of the house in practically
abandoning the ratio of l6 to l and Of
fering to compromise on a new ratio
based on present values, has proven
GOrrespOndingly diScOuraging, as it will
deprive the repeating men of what was
expected to be one of their strongest
arguments in congressional free coin
age meant the enriching of the mine
owners at the expense of the masses by
fixing fictitious value on deprecated
metal.