Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1893-02-21
IT WILL NOT WORK.
A Proposed Compromise of the
Silver Question.
so ASSERT THE FREE COINAGE MEN,

And the Republicans Agree with Them
A Sort of "Snap" Conference to Which
Carlisle and His Supposed Guests Were
All Invited by an Outsider, Name of
kenney-Mint Director Leech Gives
Some Silver and Gold Statistics-Thurs-
ton the Annexer Replies to KaiuIani.
WASHINGTON, Feb 21-"Secretary elect"
Carlisle was in the city Sunday and had
a conference with the Democratic con-
gressmen with view to agreeing on some
sort of bin to repeal the silver act. The
idea was to formulate a substitute for the
Andrew Cate bill and the result is as fol-
lows: That the secretary of the treasury
shall set apart'so much OF the silver bull
ion at the coinage value thereof, purchased
under the act entitled an "act directing the
purchase of silver bullion and the issue of
treasury notes thereon and for other pur-
posesapproved July IA, 1890, as may be neces-
sary, including the silver dollars hereto
fore coined under said act, to redeem all
the outstanding United States treasury
notes issued in payment for silver bullion
so purchased, and shall retain the same in
the treasury to be used for that purpose
only.
Must Coin go. 600, 600 a Month.
And he shall cause the residue of the sill
yer bullion purchased under the aforesaid
act to be coined at the rate of $1,000, Coo per
month into silver dollars of the weight of
H215 grains troy of standard silver as pro-
vided in the act of Jan. IS. 1885. on which
shall be the devices and representations
provided by said act, which coins, together
with all silver dollars hereafter coined un-
der the provisions of said act of July IA.
1890, shall be legal tender, at their nomi-
nal value, for all debts and dues, public
and private, except when otherwise eN-
pressly stipulated in the contract The
standard silver dollar coined under this
section shall be covered into the treasury
as miscellaneous receipt.
Can Deposit Coin for Notes.
Any holder of the coin authorized by this
act may deposit the same with the treasur-
er of the United States or any assistant
treasurer, in sums of not less than Si0
and receive therefor certificates in de-
nominations of 81, 81, S. and SO and null
! tiples or $40 corresponding with the de-
nominations of United States notes and
the coin deposited for or representing such
certificates shall be retained in the treasury
for the repayment of the same on demand.
Such certificates shall be receivable for GUS
toms, taxes and all publie--slues, and when
so received may be reissued
No More Silver Purchases
The secretary Of the treasury is hereby
directed TO suspend the purchase of silver
bullion, under the said act of July a. 1890,
until the residue of the silver bullion be-
longing to the United States has been
coined as required by the first section of
this act.
The Pith of the Understandings.
Among those present at the conference
referred to above We're Livingston and
Turner of Georgia, Cole of Tennessee.
breckenridge Of Kentucky, Breckinridce
of Arkansas, Bynum of Indiana. Clark and
Oates of Alabama, Bacon of New York.
Tracy, Williams, and Andrews of Massa-
chusetts, and Brawley of South Carolina.
Cox of Tennessee and Livingston of Geor-
gia have heretofore voted steadily with the
free coinage men. The understanding
reached was to suspend silver purchases. to
reserve sufficient silver to provide for re-
demption of outstanding notes issued in
payment of silver representing the "profitn
or difference between the purchase price
and coin value of the silver heretofore
bought After this is done silver purchases
are to be resumed unless there is new Iegis-
lation meanwhile. 1t does not seem that
this will suit the free coinage men. A
number of them were seen, and none ex-
pressed any satisfaction with the proposed
measure.