The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1893-09-15
FAULKNER'S IDEA
1t Is Embodied I'm an Amendment ia
the Voorhees, silver Repeal
Bill.
The Measure Said to BE Very Favor
ably Regarded by Many Of the
Senator's.
Voorhees, Thinks He Can Compel q
Vote inside of Two Weeks--L0ng
Sessions.


WAsHIEGToN. Sept. 15.-Mr. Faulkner
will, during the day, offer in the senate
his amendment to the pending financial
bill, to which he referred the other day
in his speech. The fact that this amend.
ment is looked upon in some quarters
as the possible solution of the present
difficulty will, it is thought, tend to
loosen the tension of the contending
forces somewhat. and create feeling
of friendliness that is supposed to pre-
cede reconciliation and compromise.
Mr. Faulkner's amendment withdraws
from circulation all notes. save the
legal tender greenbacks, Of denomina-
tions less than $40, and substitutes in
their stead silver coin, so that there can
be no expansion of The currency except
as provided in the further sections of
his amendment He believes that by
the withdrawal Of these notes, silver
dollars, and five and two and half
dollar gold pieces will circulate along
side each other in the ordinary course
of trade. He will provide for the coin
age of silver up to an aggregate of
$500, 600, 900, and when that amount is
reached the coinage of silver
viii Cease Absolutely.
The present aggregate of silver coin,
including subsidiary coin, amounts to
1915, 00O. 600. so that the increase under
this amendment will be $l65. .0OO, 900.
1t will be provided. first, that no more
purchases OF silver bullion shall be
made until the seignorage and bullion
now In the treasury, amounting to
$53, 600. 900, has been coined.
This is to be done at the rate of $3,-
900, 600 month, and at this rate it will
take more than three years to coin the
seignorage and bullion now in the
treasury, the estimate being made, OF
course. on the coinage value Of the
bullion. When that period has elapsed
the secretary is directed to buy siivar
and coin il at the came rate until tho
limit designated shall have been
reached.
Would Take Seven Years
Mr.. Faulkner computes that to ac-
years, and by that time we will have
been able to determine what the future
policy of the government regarding
silver shall be. BY that time also the
results of amy international conference
will have been accomplished, and If an
agreement is to be made. the details can
be arranged in ample time to meet the
future. This is, in brief, what Mr..
Faulkner seeks to accomplish. and to
that end he viii lend his best endeavors.
believing that this is the only solution
towards which all factions can act in
harmony.
Will Wait ON Cleveland.
According to the present programme,
ii is understood that after this amend
ment is introduced, President Cleve.
land will be waited upon by number
of senators for conference regarding
the situation In the senate. These sena
tors will represent the conservative ele
ment and will favor compromise. I,
viii be presented to the presi
dent that such bill a. II
contemplated by the senator
from West Virginia can be- passed
through both houses in "a hours, ant
that by this means the present discus
sion of the financial question will b
ended for several years, and the coun
try will know exactly the conditions i
has to meet. A careful canvass of tn,
senate has been made, land it is believed
by the canvassers that such compro
mise will be acceptable to the silve
IL r&
ators from states whose people have
leaning toward silver, but who hav
spoken for repeal, will hail it with de
light. These senator's, trusting in tn
Judgment of tho president, have de
clared their intention of voting as h
has suggested, but their enthusiasm
not of The sort that will lead them {
stand ont for all time, and insist upo
that which their own Judgment tell
them ia not for the best interests G
their people or Of the country in ger
eral
Hope He win see II.
The hope was expressed by some 4
the senators that the president woul
see his way clear to agree to CON
promise, and it was asserted that ih
one outlined in the amendment of NJ
Faulkner could very, well be accepte
by the executive. At all events. ser
Z ators who expect to see the presider
are sanguins that their visit will clea
up the atmosphere and lead to som,
thing more tangible than the preser
hope that some day, indefinite and III
certain, the senate may be able to tal
vote. There are some senator's, VIII,
while being ready to vote for uncol
ditional repeal, will also vote for TIL
amendment as measure satisgactor
to them. It might happen that the
would. in this manner, be votes suf
cient to substitute it for the Voorhe
bill. The conference with rhe pres
dent. IL ii does no more, will tnerefo
put Mr.. Cleveland officially in posse
rtxNv f%E q kI,r kx~z. A. II