The herald., 1893-08-16
HORACE CUTTERS BILL.
A NOVEL SCHEME FOR SOLVING
THE SILVER QUESTION.
1t Contemplates the Purchass of British
Columbia and Possibly the
Annexation of the Do
minion of Canada.

SAN FRANCISCO, Aug. 15.-The Call
will publish an article tomorrow to the
effect that the political economist, Hor-
ace T. Cutter, whose name is familiar to
the legislatures of this country, has pre-
pared bill to meet the present none
tary emergency. He has had the matter
under consideration for three pears, and
his present action is the result of en-
couragement received both from MEM
bers of congress and business men Of
the coast. Sponsors stand ready at
Washington to introduce the measure,
but Mr.. Cutter is 80 confident of having
solved the problem that he prefers to
lay it before the people first. The bill
reads as follows:
Whereas, That portion OF the coast OF
North America bordering on the Pacific
ocean and exten ding from latitude 40
degrees to "a degrees 40 minutes north,
now called British Columbia, should. on
its geographical position, naturally be-
long to the United States; therefore.
Be it enacted, ETC., that the president
OF the United States be and hereby is
authorized and empowered to enter into
negotiations with the British govern
ment for the purpose OF acquiring by
purchase for the United States owner
ship in entirety Of said country, now
called. British Columbia; and that the
sum OF $l00, 900, 900, or 30 much thereof
as may be necessary, be placed at his
disposal to effect said purpose; the sum
agreed upon to be paid either in gold in
10 equal annual payments, without in
terest, or at once in silver bars, at the
actual averge cost of the same as pur-
chased by the United States government.
This unique method of bringing the
measure before the public is at the sug-
gestion of several we'll known fnanciers
here, namely: Gen. w. II. Dimond, !,
recently superintendent OF the mint;
Col. j. P. Jackson, assistant United
States treasurer, and Jerome Lincoln,
president of the Security Savings bank,
and director in the Bank of California.
In communicating to the Call Mr..
Cutter says: 1T should also be consid-
cred that if Canada as whole should
ever desire to unite her destiny with the
United States we should naturally be
obliged to assume her debt of some
$500, 900, 900, and this sum of 500, ,000,-
0C0 might very justly be regarded as
payment in advance to that extent. and
in anticipation of the future. Could q
bill similar to the above be carried sue
cessfully through the councils of both
nations, and with the approval of Can
ada and British Columbia, it would sat-
isfy the great wish of the American
people; and if arranged on q silver basis
it would 60 far toward settling the great
question which is agitating the
whole civilized world. The 500 :
600, 900, payable in silver bars at, say
an average Of SO cents per ounce, would
give England an opportunity of convert
ing the same into coin which might be
made so as to correspond precisely in
value to our own dollar. Silver's parity
with gold is now reckoned at $129-27
per ounce, which would give the British
government an additional sum of some
5000, 900 for seigniorage. By inter-
national agreement, a similar amount
OF SAC, 100000 could be coined by the
United States, both giving $3.50, 900, 900
of silver coins to be interchangeable be-
tween the people OF both countries,
thus taking an immense step in the
direction of "tne COIN"