The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-08-10
They Will Vote for the Repeal of the Sherman
Act, but Will Demand Free Coinage at
Ratio Between 16 to and 20 to 1.
Unconditional Repealers Discouraged
by the Unexpected Compromise Offer.
Democratic Senators Unable to Agree on
Plan of Battle-Gorman Placed in Charge
of the Matter-ShOrt Senate Session.
THE SILVER SITUATION.

Both Monometaliists and BimetalIists En-
coursged by the Action of the Caucuses.
WASHINGTON, Aug. Q. The develop
ments of to-day have been such as
to give promise of an early dis
cussion of the silver question in the two
houses of Congress. The Democratic SEN
ators. after o caucus lasting several hours,
found themselves absolutely unable to
agree upon any line of action. and they
finally adjourned until q later day, the IN
tention Of the Senate being to adjourn from
tomorrow till Monday. in order to.give op-
portunity for the fullest informal discus
sion among the Senators 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 fiud great encouragement. 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 statesman
ship rises above party considerations and
partisan advantages. Leisurely. as it al
ways is. the Senate, with q membership OF
only one-fourth that of the House of Rep
resentatives will probably be behind the
popular branch of the government In meet
ing 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
a caucus to-day and adopted a resolution
which will be revelation TO the ultra free
coinage men of the West but will prove q
tower of strength TO those who are fOrtify-
ing themselves against an unconditional
repeal Of the Sherman purchasing act.
garded as masterly stroke on the part OF
the silver men. as 1t practically abandons
the ratio of 16 TO and agrees TO accept such
compromise ratio as will maintain
n 19S parity gold asa sgs tna;
the free coinage men Will be willing TO
accept a ratio of Is or 20 to If o free COIN
age bill Is passed as 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 the country.
The mOnometallists tonight realize that
the action of the free coinage caucus to-day
will be likely to strengthen that element
In the two houses and render unconditional
repeal of the Sherman act more difficult.
10 amounts to an olive branch, and 10
comes at time when 10 one expected that
such an offer of compromise would be made
by the free-coinage members Thus while
the action of the Democratic Senators
in failing to agree upon line of party pol.
Icy has encouraged the advocates of re-
peal. the unexpected action of the free
coinage members of the House in prac-
ticalIy abandoning the ratio of sixteen to
one, and Offering to compromise Oh q new
ratio. based on present values has proven
correspondIngiy discouraging. as it will
deprive the repeating men of what was eX-
pected to be one of their strongest argu-
ments In COngress-that free coinage
meant the enriching Of the mine owners at
the expense of the masses by fixing q ficti-
tious value on deprecated metal.