The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1893-10-22

Gates or Coined silver Dollars to Re
place Greenbacks aud Treasury Notes.
How the Compromise Is Looked Upon.
WASHINGTON, Oct. 21.-Details Of the
forthcoming compromise on the silver
question have been practically agreed
upon, and few moments before one
o'clock this afternoon the Democratic
Senators began to pledge themselves in
writing to abide byit.
The compromise agreed upon p-o.
vides that repeal OF the purchasing
clause of the Sherman act shall take
effect October 1, 1894, and that the bond
question shall be eliminated entirely.
All silver bullion now in the Treasury
and all that may be purchased up to
the time the repeal goes into effect.
together with the seignorage, is to be
coined save the amount necessary to re-
deem the outstanding silver certificates.
All greenbacks and treasury notes I'm
der ten dollars in value shall be retired
and silver certificates or coined silver
dollars shall take their place.
AS soon as the conference committee
reached this conclusion, the Senators on
the Democratic side were sent for, and
a steady stream of Senators wendell
their way to the com mittee room, Voor-
bees, in charge of the bill, having been
previously AMI for sotne time closeted
with the committee.
A paper was drawn up, addressed to
Voorhees,, in which the Senators pledged
themselves that If he would move TO
amend his bill in accordance with the
outlines given above they would support
it and then vote for the bill as amended.
1t was a noteworthy fact that the
Senators signed this document, although
there were some who did it under the
most vigorous protestations, looking
upon the compromise, as they expressed
it, as an abject surrender OF all that for
which they had fought these many
weeks.
it's purpose having been previously dis
cussed with the chairman of the financial
committee, tho amendment will be pre-.
pared and introduced in the Senate.
UP to 4 o'clock when the Senate took
q recess thirty-seven Senators had
signed the pledge addressed to Voorhees,
to support the measure. This number
included Martin, of Kansas, who has
been counted by some as a Populist.
Martin said that he is and always has
been Democrat, and while he did not
acquiesce willingly in the conclusion
reported by the conference. he agreed
to 1t because it was the best he could
get.
By the coinage of the bullion and the
substitut ton of silver certificates for
Treasury notes and greenbacks below
denomination of $40 it is estimated the
yN1t nf nfx IT, ~ ,1oA To-, 1.
increased by Sl6O, OOO,O 900.
The terms of compromise for the
repeal bill we're not generally known in
the executive departments before one
hour of closing arrived. Secretary
Carlisle was handed the substance of
the compromise, but he preserved, as he
has throughout this entire struggle, a
mastery silence" IS far as making
public his view through tho press /.
concerned.
Others talked of the subject, however,
and the fact that an outcome was in
sight was received with general salts
faction. Ono OF the Cabinet officers
mot Secretary Carlisle) in conversation
subsequently expressed the belief that
without clause in the compromise
authorizing the Secretary of the Treas
ury to issue bonds up to fixed amount,
say $3.50 600, 900 or S2oo,oOo, 900, at a rate
of interest that would readily float
them abroad and not have them re-
turned to the United States in every
little financial furry, the bill would be
unsatisfactory as a financial measure Of
relief
The clause in the bill providing for
the retirement of United States notes
and Treasury notes below $40 was favor
ably received in the Treasury Depart
ment. The retired 81, SO and SIS notes,
it is understood, OF course, are to be con-
verified into higher denominations 80 that
the present amount of these two classes
of money in circulation will not be
affected by the change.
Silver certificates above SIS in circula-
ton aggregate $500, 100000 and under
and including fives, about $3.50, 900, 600.
The plan as now understood contem-
plates the issue Of smaller denomina-
tions OF silver certificates for the large
denominations now in use.
When the steering committee ad-
journed to day with thirty-seven sig.
natures to the pledge they felt assured
of four more names, bringing the total
up TO forty. one, leaving only two more
necessary to insure the passage of the
bill by Democratic votes.
Three Democrats who are said to be
holding out against the bill are Mills
and Villas, of the repealers, and Irby, OF
the silver side. Daniel and White, of
California, are absent from the city.
The steering committee count upon the
support of these two.