The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1893-10-07

WASHINGTON, D. c., Oct. Gin the
senate to-day Mr.. Blackburn, of Ken
lucky, submitted an amendment to the
bill repeating the silver purchasing
clause OF the act OF 1890. Itstrikes out
the Voorhees, substitute, leaving the
bill as it passed the house, and then
provides for the free coinage Of silver Of
American production. The secretary
of the treasury is authorized on the
first day OF each month TO establish the
seignorage to be charged for the follow
ing month, which is TO be the difference
between the market price OF silver
bullion and the minted value after
coinage. This seiguoroge is not to be
coined but is to be sold by the secretary
of the treasury for gold and silver.
This is the amendment which Mr..
Blackburn in his recent speech said he
would propose with view Of reaching
a compromise.
A communication from the treasury
department was laid before the senate
supplemental to the recent letter OF that
department in reIationt to the appropr!a-
tions necessary fol- the execution of the
Chinese exclusion acts.
The statement is supplementary to
that OF September IL and increases the
estimate OF the total appropriation nee
essary from $6,000,000 to SIC, 1885, 900.
The resolution heretofore offered by
Mr.. PETER Pop, Kansas for select
committee to inquire what legislation
is necessary to improve the banking
system of the country, was then taken
up and Mr.. Stewart rep, Nevada) spoke
upon it.
he confined himself to criticism OF
the secretary OF the treasury for failing
to purchase 4.50O,O00 ounces OF silver
per month, and went over much of the
ground heretofore covered by him.
Mr.. Blackburn, Dem. OF Ky.,) sent
to the desk and had read the amend
mont intended to be proposed by him
to the repeal bill. 1t provides for tho
free coinage OF silvdr of American pro-
duct on and after January, 1894.
The debate on the resolution for
committee TO inquire into the banking
system was continued by Mr.. Petfer, its
author.
After brief discussion, the resolution
was referred to the committee on
finance.
The resolution offered some days
since by Mr.. Morgan (Dem., Ala, in
structing the committee on the judiciary
TO report whether any of the provisions
of the coinage act Of 1887 are in force,
was laid before the senate and agreed
to without discussion.
The repeal bill was taken up at 1926,
and Mr.. Mcpherson (Dem.. N. j.. gave
notice that he would address the senate
upon the bill on Monday next.
Mr.. Butler Dem. S. C.) obtained the
floor, but Mr.. Pugh Dem, Ala) sug-
gested the absence Of quorum, and
the roll was called. Forty-four senators
responded.
Alr. Butler went into long argument
which he submitted some time ago re-
pealing the tax on state bank circula-
ton.
Mr.. Butler read copious extracts from
an article in the Forum on the Scotch
banking system, and he asked why such
a system could not be established in
the United States.
Mr.. Allison, (Rep. Iowa. said that
every stockholder in Scotch bank was
liable to the full extent OF his property
for every obligation OF the bank. That
was one OF the reasons of the success OF
the Scotch banking system.
Mr.. Sherman thought the national
banking system was better in every
respect than the Scotch system, and
atfording larger circulation per capita.
Mr.. Teller, (Rep. Colorado took the
floor on the repeal bill at 4:40 o'clock.
At 5:l5, Mr.. Faulkner, understanding
that Mr.. Teller was not feeling well,
moved an executive session.
Without finishing his speech Mr..
Teller yielded for that purpose.
After a short executive session, the
senate adjourned.