The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1893-09-03
THEADOPTION or CLOYJRE.
Doubtful if the Senate Will Even
Consent to 1t.
A NEW SUB-TREASURY BILL.
Mr.. PETERS Scheme in the Nature of
Constitutional Amendments.
He Proposes to Increase the Per Capita
to $50, the Money to be Distributed in
Small Denominations of Legal
Tender Bills.

WASHINGTON, Sept. 2.-The effect OF the
action of Mr.. Voorhees, yesterday in calling
for a vote by the Senate on the repeal bill
will be to keep the senators regular in
their attendance, and also to keep the sill
yer men constantly on the alert and on
the defensive, for If they know that at
each pause in the debate Mr.. Voorhees,
will be pressing for vote, they will be
compelled to keep one or more of their
men in the chamber ready to take the
floor at moments notice. The silver
men will not allow vote until they are
unable to hold the floor any longer. That
is the point to which the fight finally will
be brought, for the men from the silver
states will never consent to a vote any
other way. 1t is doubtful if the Demo-
cratic majority would ever consent to the
adoption of cloture, no matter how long
the talk might be strung out.
What the free coinage men seek to ac-
complish by the delay was Indicated by
Mr.. Vance. He urged the advocates OF
silver to hold on little while longer, and
spoke OF the improvement already going
on in business throughout the country.
The silver men hope, if they can delay
the vote long enough, that the condition
of the country will be sufficiently inn
proved to weaken the demands of the
people upon the Senate for action, and in
this way finally get the advocates of
repeal to consent to some sort of COM
promise.
Mr.. PETER yesterday introduced sub
treasury bill which was referred to the
judiciary committee.
The bill, as matter of fact, is in the
nature of an amendment to the constitu-
ton. The first amendment, known as
No. 16, directs the secretary of the
treasury to print and issue to the state
governments s., 100000 for each hundred
thousand Inhabitants, or, at rate of $50
per capita. This money is to be distri-
buted in small denomination legal tender
bills, delivered to the states free of cost or
interest. The states are prohibited from
lending it and charge an interest in eX-
cess of 8 per cent. The president of the
United States and the secretary of the
national treasury with one senator and
two members of the House shall be a
committee to see that each state choose
commissioners to give bonds for
received, the bond to be ap-
proved by the governor of the state. The
money is to be lent on landed security,
worth double the amount borrowed. No
person shall borrow more than g, 000.
Corporations shall not be allowed to lend
money. The time Tor which the money
shall be lent is sixteen years, and one
fourth is to be paid every four years.
The interest will be collected at the end of
each year. No fees or commission shall
be charged on the loan. Lands and inn
provements forfeited for the non-pay-
ment OF the principal or interest shall 60
into the public domain. Other money
and other metal now outstanding will be
called into the treasury and destroyed.
The secretary of the treasury is required
to print 5000, 900 fifty cent bills and the
same number of twenty-five cent bills,
to be sold by the postmasters.
Amendment II prohibits the deposit of
any public money in any private or in
corporated bank other than the national
treasury or subtreasury.
Amendment IS provides for the free
coinage of both gold and silver. additional
minis to be established near the mines.
Amendment 10 prohibits subtreaaurers
from buying gold or silver, or receiving
gold or silver for deposit, and issuing sub
stitute money therefor.
Amendment 20 divides the national
treasury into two separate departments,
one to receive all the revenue due the
government and disburse the same, and
one to issue and distribute money to the
states, and to renew mutilated bills.