The Waco evening news. [volume] (Waco, Tex.) 1891-1894, 1893-01-07
Mr.. Culbsrson's silver Bill.

Dallas News special of the 9Th
SAYS:
Mr. Culberson will tomorrow intro
dace a silver bill which is contained
in the press dispatches. talked
with him on the bill, and he gave his
views, which are as follows: 1t will
provide for the relation of the legal
tender quality Of the treasury notes,
and their redeemabiity in coin when
presented at the treasury The bill
will further provide for the restoration
Of those provisions in the Bland act
which were repealed by the Sherman
law. One of the provisions thus re-
vived by Mr.. Culbersgn's bill requires
the pu. chase and coinage of not less
than 100000 nor more than 4 ,OO0,-
900 ounces of silver pei month.
Mr.. Cuberson, in commenting on
his bill today said: "There is bullion
enough piled in the treasury 10 colu
$l25,000,0OO, purchased under the
Sherman law, and his measure requires
the secretlry Of the treasury to coin
into silver dollars all this bullion as
fast as practical and cover them into
them iuto the general assets of the
government. Some people supposed
that there is some sort OF Hnde6ned
lien of this silver bullion to secure the
redemption OF the outstanding treas
ury notes with which it was purchased,
but this is mistake. 1t is true the
law (Sheiman acD authorizes the
secretary of the treasury to coin so
much Ct this bullion as may be neces.
sary for the purpose Of redeemipg the
notes referred to, but the secretary
holds that it is unnecessary to coin
any part Of it for such purpose and
none has been.'
Mr.. Culberson's bill requires the
outstanding notes issued for the pur.
chase of bullion to be redeemed when
presented, out of The current receipts
of the government, and when re.
deemed shall not be reissued, as the
law requires. Mr.. Cuberson thinks
that such measure would not conflict
with the Chicago platform. The
platform demands the repeal of the
ShermaA law, but it also commits the
party to the doctrine OF bimetallsm
and the coinage Ct silver and sold
without discrimination. Congress
must fix the ratio. 1t is quito impos.
sible tor congress t. agree upon a
proper ratio until the relative value of
the two metals and consequently the
proper ratio to be fixed is es.
tabished. but will guard the flow
of silver into circulation and thereby
prevent any scare as to an overflow.
In other words we need the Bland act
as a safe, conservative guide by which
to carry out the Chicago platform.
Besides, the coinage of the $l25, 000,.
600 out of the bullion now on hand
will give the democratic administra
ton fund suffice to tide over any
deficiency likely to occur. 1t will be
in the nature of an increase Of the
volume of currency as the ninety
million OF notes issued for the pur
chase of the bullion will not likely be
presented for rede mption for years
to come except In small sums.
Mr. Culberson thinks the demo
cratic administration would favor the
temporary adjustment. The south
and west will not submit to the repeal
Of tn Sherman law outright. They
are willing to repeal it If some con.
siderate one shall pass to secure
silver, but rot otherwise. Mr.. Cul.
berson is free silver advocate, but
thinks that the only proper and safe
way to reach it is through some safe
channel as proposed by his bill.