New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-02-21
/ SILVER COMPROMISE.
AGREEMENT REACHED EY SEVERAL HOUSE
DEMO- RATS
TO SUSPEND PURCHASES AND PROVIDE \ RE
SERVE FOR OUTSTANDING NOTES REPRE-
SEEMING PROFITS on sILvER-sNALL


CHANCE OF ITS PASSAGE
Washington Feb oO.-Rcprcsentativc Livingston Of
Georgia prepared bill OF the lines OF an understand
ing reached Yesterday al a conference between "'ha
for Carlisle and seventeen Democratic members 81
the House representing various elements (eXc'p
the radical free-conagc mem Of the party on the sV'r
question. Among those present were M"sSis' Li'-
ingston and Turner, OF Georgia COX, OF i"1iuc's'c
Breckenridge, Of Kentucky Breckenridge, OF Arkansas
Bynum Of Indiana Tracey, OF Ncw-iork; Williams
and Andrew of Massachusetts,. and Brawley. Of south
Carolina.
The understanding was 10 suspend silver purchases
to reserve sufficient silver t. provide for rcd"mp'''"
OF outstanding notes issued In payment o. silver repT"
senting the profit difference between the P1F-
chase price and coin value OF the silver heretofore
bought. After tbs is DONE silver purchases are 10
bo resumed unless there is new legislation meanwhile.
The profit amounts to about S47 ,o0oO0o so that II
will take sixteen months 10 coin the bullion
The ont.and-out free coinage men announc" That
they would fight the prop position 10 the d"a'h N.Y.
Bacon Of New FORK. said that the sherman Law was
working great HARM and sooner or later a repeai
must come or the country would be brought 10 u"
verge Of ruin in business way. Then drastic meas
ures would be taken
TIL. anti-silver men claim by this compromise 20
have caused enough to change their Views to TURN
tho scale In favor Of closure provided they conid
first get another report from the Rules committee
and then hold the votes thcy oo'hincu hst UNIV
The proposed measure is to be sent TO the Banking
Committee.
The compromise proposition was shown 10 the
Ropublcans by Mr. Tracey. of New-York and they
were asked If they would support H. Nearly III
the Republicans who voted with the anti silver men
last time Including Mr. Reed replied tlat they would
not do So 1t therefore seems likely that this
latest attempt 10 repeal the sherman silver Bullion
Purchase act cannot gain the votes necessary TO its
passage dc the free coinage Democrats say HEY Will
refuse TO for II. and the Republican detection
more than offsets the Democrat gain made as a
result OF the conference
The following is the full text OF the bill. II Is
propo,ed as n substitute for the AndrewCate bill ;
That the Secretary OF Treasury sh0 SGT apart 20
much Ct the silver bullion Tn. coinage value thereof
nurcha sed under the oct entitled "An act directing the
purchase bullion and the issue OF treasury notes
thereon, approved July II, 1890 a. may I've necessary.
including the silver dollars heretofore coined under sad
az, ~ redeem all tho outstanding United State Tcnsy
notes issued IN payment for silver bu lion 50 purchaser
nd shall retain the in the Treasury to b" used oI
that purpose ony and he shall cause the residue q" the
silver bullion purchased uLd"r the aforesaid act to DO
oi,ed at co rate OF 50 900 per month into silver
dollars Of weight of APP grains Troy, Of sand'i
silver as provided IN the act OF January 10, 1881 on
which shall devices and superscpuonS proVlcd b
said net which coins together with all silver dollars
hc,ofoc coined undo- the provisions sad act Of JUL
a. 1880. legal tender at their nominal value
Gor all debts and dues. public and private except "h'I
expressly stipulated IN Inc Contract
nndard silyer dollar coined Under this section snail De-
covered into the Treasury as miscellaneous receipt
Secood-Any holder Of the coin authorized by this act
may deposit vita the Tree su.er OF thc Uncd
States OF any Assistant Treasurer in SUM Of not less than
so receive therefor certihcaeS III DENOMINATIONS Oi
81 So - and $40 mutpes OF Go corresponding with
the denominations Of Urlted states notes ana the coin
deposited representing such cctcses shal De ie
tsned IN Treasury :or the re@yMca; OF tn sane on
demand such shall De receivable for customs
and MI nul &c aI1
rcissved.
Thrd-The Secretary OF the Treasury is hereby directed
to suspend the purchase Of silver bullion. uner the SAID
act OF July II. 1890. until the residue Of the SILVER
bullion belonging 70 the Unci States has been coined a.
required by first section Of this at
Several of the gentlemen at the silver conference
tell an amusing story Of how they came to be thcI7'
which shows that they were neither guests OF MI
Carlisle sefappointol visitors 10 their host ana
that each gentleman was unaware Of Inc met 'oi'
the others were 20 be present. The story Is TINT
during the latter part Of the week most Of those al
the conference met man named Kenny, who they
understood was connected with publication known
as american Industries ana was also Interested
with Josiah Quincy in The Economist SATURDAY
each OF them received formal note in effect "a
follows: Mr. Carlisle requests That Mr.. - can
on him Mt his residence. No. 1915 K.st.. y. w. at
4 o'clock Sunday afternoon. February 10. for IN
informal conference on u compromise Of the silver
question" Mr.. Carlisle the same day found await
ing him signed by NJ. Henny Informing him
that certain Democratic members Of the House would
call on him for {. conference on th" silver question
Mr.. Carlisle met the gentlemen, Who he supposed
had called on him by their own appointment. The
silver question was discussed and an UNDERSTANDING
was reached. As they were about 10 g.. Chiffon X.
Ireckinrdgc, OF Arkansas, called lie had received
an invitation. He was asked TO stay 10 dinner. ol
their way to the table he apologizcd 10 Mr. Car,Nl"
for his late arrival by saying that he had not received
his invitation until late hour that afternoon. NJ
Carlisle assured Mr.. Brcckinridge that he had not
sent him any invitation whereupon the latter hslcd
the invitation out Of his pocket and presented II I"
his host Mr. Carlisle produced the note he had re-
ceivcd Mutual explanations followed