The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-01-10
SHERMAN'S SILVER LAW
THE SENATE TAKES UP THE
MCPHERSON RESOLUTION.


IL Provides for a Suspension OF the
Buying OF Silver and the Repeal of
the Sherman Act-Aldrich offers a
Substitute in Order TO Make the
Democrats Show Their Hand.
WAsHINGToN, Jan. 9.-At the close of
the routine morning business in the Senate
to-day the joint resolution introduced on
Dec. 81 by Mr.. McPherson, authorizing and
directing the Secretary Of the Treasury to
suspend all purchases Of silver bullion un-
der the act Of July IA, 1890. was taken up,
and Mr.. Mcpherson addressed the Senate,
taking for his text, which he sent TO the
clerks desk and had read, the plank In the
last democratic national convention de-
nouncing the Sherman bill as a cowardly
makeshift. and declaring that that legislA-
tion must be repealed.
ALDRIcH OFFERS A SUBSTITUTE.
Mr.. MCPHERSON spoke nearly two and a
half hours. When he resumed his seat Mr..
Aldrich gave notice of a substitute which
he proposed to offer to Mr.. McPherson's
joint resolution, and he asked unanimous
consent, in order TO test the Ein-
cerity ef the democratic side Of the
chamber, which he accused of mas
querading,n to have a vote taken on the
substitute and the original measure to-
morrow.
Objection came from Mr.. Daniel and the
matter went over indefinitely and without
| any agreement.
Mr.. Aldrioh's substitute proposed TO au-
shorizs the issue of bonds to procure gold i,
| IL necessary TO maintain the parity between
| gold and silver coins and United States
eRnm wNE.kA al aAal h.
| suspension of the purchase OF silver bullion
on July /, 1894. If before that time there be
not an international agreement reached by
| which gold and silver shall be given equal
mintage rights at an agreed ratio.
LEGISLATION IMPROBABLE.
The prospect of the passage OF any bill to
| repeal the Sherman act may be Judged OF
! from an emphatic declaration by Mr.. Teller
| that those who desired its repeal might butt
their heads against the wall as much as they
chose, but that they had not got the vote in
the Senate or the House to repeal that Ia W
| that 10 was morally certain that it could not
be repealed before March and that in his
| judgment 1t was no more likely after than
before that date.
THE QUARANTINE BILL.
Tho discussion on the quarantine bill re-
| Cured on an amendment offered by Mr..
White, limiting its operation to Jan. |, 1895.
| No vote was reached on the amendment,
and the bill is TO be taken up again to-
morrow 10 the morning hour and continued
until at least 9 O'Clock. when the anti-op-
| tion bill will have precedence, unless Mr..
| Washburn, who has il in charge. shall yield
further time TO the quarantine bill.
| The McGarrahan bill also went over till
the morning hour Of w ednesday.
The Senate then adjourned.
THE ANDREWS AND CATE BILLS.
The House committee on banking and
| currency to-day by decisive vote pushed
/ the Andrews banking and bullion purchase
repeal bill, together with the Cate amend
ment for the coinage of silver bullion no W
| In the treasury, through the committee and
| ordered its report 10 the House. This was
done In pursuance Of the plan of the oppon-
ents OF the Sherman silver law to get a
repeal bill on the calendaR at the earliest
possible moment, In order to work out
| practical legislation at this session, IL prac-
ticRble. All propositions involving delay
| we're voted down.
NO STATE BANKS OF ISSUE.
| Another significant feature OF the meet
| ing was that motion by MIR. Cox OF Ten
nessee 20 carry out the state bank plank in
the Chicago platform was defeated by II
TO /.
| When the committee took up the bill Sat
urday Mr.. Cox of Tennessee offered as q
| substitute for the entire bill bill 60 repeal
the Sherman act, provided that the bullion
now in the treasury be coined into silver
dollars and carried into the treasury as coin
assets, and that the legal tender quality OF
the notes issued in the purchase of the bull
| ion be preserved; that the Blaud-Allison act
Of 1873 be revived and restored, and that the
tax of 10per cent. on state bank circulation
| be repealed.
THE SUBSTITUTE WITHDRAWN.
When the committee met to-day Mr. Cox
withdrew the substitute and offered an
amendment repeating the tax on state bank
circulation rs an independent section Of the
| bill. This was voted down by IL 20 l. He
| then offered an amendment that circulation
1 to the extent Of the par value Of the bonds
DEPOSITED by the banks be issued 70 such
| institutions that ths tax on circulation be-
repealed and that the law requiring
a per cent. reserve also be repealed, so
| that the banks would receive their circula-
ton clear OF any expense; and that when so
| received the interest on the bonds deposited
| to secure such circulation to the extent Of
| the circulation shall cease while the same IS
being used by the banks. This was defeated.
STEWARDS BILL OFFERED.
Mr.. Townsend of Colorado offered the
Stewart free coinage bill. This was voted
| down. Mr.. Townsend also moved that the
committee permit those who were in favor
Of free coinage an opportunity TO be beard
before the committee and that tbs Secrs-
tary of the Treasury, the director of the
| mint, and others be asked TO appear. The
! majority evidently were opposed to all de-
lay and the motion was defeated by to 4.
The Cate amendment was then adopted
by the same vote, and then Mr.. Cate was
authorized TO report the bill az agreed TO in
sections by vote OF 8 to 3. The members
who voted in favor Of the bill were: Messrs
Bacon, Wike, Cate, Dickerson, Sperry.
Cobb, Walker Of Massachusetts and Russell
OF CopDscticut. Those voting agai st it
were: Messrs. Cox of Tennessee. Kendall
and Townsend, Mr.. Brosius of Pennsylva-
mia not voting. The members not present
were: Messrs. Gantz OF Ohio, Busey and
Henderson Of Illinois.
TRAP FOR DEMocRATs
There is strong suspicion on the part OF
democratic senator's that the Aldrich
amendment 70 the Mcpherson silver
purchase suspension resolution, OF which
Mr.. Aldrich gave notice to-day, was a
carefully planned trap. At any rate, they
decided to take no chances, and 90 Mr..
Daniel obiected to Mr. Aldrich'g request