The new dominion. [volume] (Morgantown, W. Va.) 1876-1904, 1894-03-17

LIKELY TO BECOME A LAW.
The Bland Coinage Bill Passes the
House-A Peculiar Financial

The long struggle in the House
over the Bland bill for the coinage
of the silver seiguiorage and the sill
yer bullion in the Treasury has been
ended by the passage of the
bill by the vote of l67 to 1870, ma
jority in favor of the bill of 81.
All the amendments offered to the
measure by its opponents were de
feated, the one which polled the most
votes being Mr.. Outhwaite's amend
ment to strike out the second section.
The bill as passed was in the nature
of substitute for the original text
of the measure.
The first section of the substitute
is identical with the first section of
the original bill except that the coin
age is to proceed as fast as possible"
instead of practicable.
The substitute for the second sec
ton reads:
After the coinage provided for in
the first section. of the seigniorage,'
the remainder of the silver bullion
purchased in pursuance of the act of
July IA, 1890, shall be coined into
legal tender standard silver dollars
as far as possible and the coin shall
be held for redemption of the Treas
ury notes issued against such bull
lion. AS fast as the bullion shall be
coined for the redemption of said
notes the notes shall not be reissued,
but shall be cancelled in amounts
equal to coin held derived from coin
age herein provided for, and silver
certificates shall be issued on such
coin in the manner now provided by
law; provided that this act shall not
be constsoed to change existing law
relating to the legal tender charac-
ter or mode of redemption of exist
ing Treasury notes under the act Of
1890"
A sufficient sum of money is APP
propriated to carry into effect the
provisions of this act.
A large number of other amend
ments were offered, after which Mr.
Bland took the floor in support of
the substitute He explained the
second section of the substitute. 1t
made the coinage of the remainder
of the bullion in the Treasury before
and after the coinage of the seignior
age, and a specific proviso was added
to the effect that nothing in the act
shall be deemed to change or alter
existing law as to the legal tender
character or mode of redemption of
the Treasury notes. This would set
at rest alarm on that point.
The changes do not affect the ma
terial features of the bill, which pro
yides for the coinage of the silver
seigniorage in the Treasury, the is
sue of silver certificates thereon. if
need be, in the discretion of the sec
rotary of the Treasury in advance of
the coinage, and thereafter the coin
age of the remainder Of the bullion
as fast as practicable and the issue
of silver certificates therefor to take
the place of the Treasury notes is
sued under the Sherman act, which
are to be retired and cancelled as
rapidly as the coinage takes place.
The changes made in the substitute
simply make specific the fact that
the seigniorage is to be coined and
that this bill will not affect the re
demption of the Treasury notes un-
der existing law.
An analysis of the vote by which
the bill passed shows that al Dem.
ocrats, 10 Republicans and s Popu-
lists-total 16S-voted for it, and 70
Republicans and so Democrats-to-
tai l29-yoted against it.