The record-union., 1893-08-19
THE REPEAL BILL.

Text OF the Measure Presented by
Majority of the Committee.
WASHINGTON, Aug. 1S.--The votes by
which the Senate Committee on Finance
reported the repeal bill are Chairman
Voorhees, and Senators Mcpherson, Nor
rill, Sherman, Allison and Aldrich, the
last four Republicans.
The text Of the bill, emitting the enact
ing clause, IS as follows:
That so much of the Act approved
July II, 1890, entitled An Act directing
the purchase of silver bullion and the
issuance of treasury notes thereon and
for other purposes as directs the Secre-
tary Of the Treasury to purchase from
time to time silver bullion to the aggre-
gate of 100000 ounces, or so much
thereon as may be offered in each month
at the market price thereon, not exceed
ing 81 for 37l.25 grains OF pure silver, and
TO issue in payment for such purchases
treasury notes of the United States, be
and the same is hereby repealed.
and it is hereby declared to be the
policy of the United States to continue the
use of both gold and silver as standard
money. and to coin both gold and silver
into money of equal intrinsic and ex-
changeable value. such equality to be Sc
cured through an international agree
ment or by such safeguards OF legislation
as will insure the maintenance Of the
parity in value Of the coins of the two
metals, and the equal power of every
dollar at all times in the markets and in
the payment of debts.
nd fS barpbx- fr1rtb ay JooIo,-oJ tI,o+
the efforts of the Government should be
steadily directed to the establishment of
such a safe system of bimetallism as will
maintain at all times the equal power of
every dollar coined or issued in the
United States in the markets and in the
payment of debts"
Senator Voorhees, will not. as he had
originally intended, ask the Senate to
fix day for the vote on the bill. He
said this morning that he did not think a
vote would be had on it for some time. as
there appeared TO be a disposition on the
part of Senators to debate the measure
for an indefinite time. He will call it I'D
next Tuesday, at which time he will
make speech on the financial question
generally.
Vest. on behalf of the minority of the
Finance Committee, presented a substi-
tute for the repeal bill. The substitute
fixes tn number of grains of silver in
coins at 464.4 per dollar, and proportion
ately for half-dollars, quarters and dimes.
There were no sensational develop
meuts in the committee-room, but both
sides remained firmer, the unyielding
minority, or the silver men, contenting
themselves with the statement that they
would carry to the Senate the fight that
| is hopeless in committee.
There has been some quiet talk among
the anti-silver men of the committee as 10
the chances for a vote and final action on
the bill, and it is ascertaiued that while
they feel pretty certain the bill can pass
the House, they appear by no means san
guine Of the Senate. There seems to be a
feeling that the bill of Vest, establishing
free coinage at the ratio of twenty to one.
may possibly be successful. In that event
even they look for the final triumph of
the Administration measures. Two bills
would then go to the conference, and in
/ that stage of proceedings the Senate
could, without sacrificing the dignity
which it so zealously guards, recede from
| its position and adopt the bill of the
4 House. It is believed that the members
/ favorable to free coinage, having by that
/ time put themselves on record, would be
willing to vote to recede, and straight
repeal would go to the President for his
| signature.