New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-02-03
WILSON BILL IN THE SENATE
PROSPECT THAT IT WILL BE MATERI-
ALLY MODIFIED.
SENATOR QUAY GIVES NOTICE OF = SILVER
AMENDMENT HE PROPOSES TO OFFER
WHICH MAY coMPLGcATE TIE SIT
TATION SERIOUSLY.
ICY 1rrrGrArH 10 the TRlbvxE.i

| WHICH MAY COMPLGcATE TIE SIT
rATIoN SERIOUSLY.
| Try 1rrrGrAru 10 the TRiBvxEj
| Washington. Feb. THE Wilson Tariff biz
| reached the Senate this afternoon in printed
| form and was son. at once 10 the Committee on
| Finance \ keen interest is naturally felt in the
| methods which the committee Is likely 10 ON
plov I'm dealing with II. an. in the probable eX-
tent of the revision and amendment which IT Is
sure {, undergo before ii reapoeaTs In the Senate.
| Few well-informcd judges believe that the bill
can be reported in its revised shape for a; least
| a month or six weeks to come. The su0-Com-
mlttee on Tariff Legislation appointed by Chair
| man Voorhees, has been engaged for perhaps
three weeks looking over the details Of the bill
as from time 70 time they were determined by
the House but as yet little systematic work has
been attempted and it can be said that The sub
committee has far failed to construct even the
bare outlines of Il substitute measure.
Il is taken for granted generally. after the
significant remarks made by Senator'S German
Harris and other leading Democrats on the
floor Of the Senate that the Finance Committee
will endeavor T.. reshape the Wilson bill into
more decided revenue measure than 1t IS at
present-that is the purpose Of the amendments
made will be To bring the income derived from
customs duties and internal taxation more
nearly M 10 level with Government cX-
pendtures. Whether the estimated revenues
will be increased sufficiently to dispense with
the McMn income tax will Of course remain
the chief pon Of dispute on the Democratic
side. and on this rock the new BILL if it is
finally 10 fail will surely split The differences
within the party on this question will undoubt-
eddy De- sought 10 be compromised in committee.
and unless all signs mislead. their attempted
settlement will delay the reporting Of the re-
arranged measure until March or April.
Some hint of the obstacles likely to be- thrown
In the way of the bill when it gets into the
Senate was conveyed this morning in the silver
amendment offered by Mr. Quay. This amend
ment embudiea plan for free silver coinage
coupled with goll purchases and h. stoppage
Of all furthe, bona sales In the present state
Of feeling In the Senate "A reopcning Of the silver
fight on the Tariff bill would prove extremely
dangerous and domoralizing TO the Democratic
managers The friends of free coinage are al
most half the strength Of the Senate. and. with
the aid Of som. Republican votes. could foist
upon the Wilson bill free coinage provision
almost rs odious as the income tax. But the
actual appearance Of the bill in the Senate is
now presumably 50 distant that speculation as
To the many difficulties and dangers ii Will
have to avoid runs the risk Of seeming almost
premature
The following is the full text Of Mr.. Quay's
proposed amendment
After Section -- IN cert additional sections
as follows:
Section --. That IA" owner II siivo. bullion
may deposit IA" same At any mint Of The United
states To be- coined for his benefit. and il shall
Do tho duty Of the proper officers. upon thu terms
and conditions which are provided by law for
the deposit and coinage Of gold. to coin such
silver bullion into the standard dolla"s author
lied by the act Of February y. 1873. entitled Ap
at to authoriz" tho coinage 81 the standard
silver dollar. and 20 rcstor" its l"gdl-tend"r
character and such coins shall b." lcsaI-itnder
for all d.ais ari dues. public and private. Pho
vilrd that the secretary u the Treasury shall
proceed tu have coined ali tho silver bullion IN
The Treasury purchased with silver or coin GER
uncat"s
section - That Section 34l2 OF the Revised
Statutes Of the United states the same being Soc
ton l22of tn " toual Bank act i1pc sing tax ~
- peg Ccutum upon the amount ~ notes of any
person. or Of any stat" bank or state banking
associaiiI n us.l for circulation Or paid out by
then. Dee ana tn. same Is hereby repealed So
far rs the same applies L. banks VIII shah
Secure their circulation 10y deposit 81 state or
National bonds approved by the proper authority
u the State IN which the said banks may be-
located.
SECTION 60 -Tha: The Secretary # the Treas
ury Is hereby directed 90 purchase. from time !
- time. gold bullion t. the amount Of ii5,l2J /
ounces finc gold ian each month. al the market !
price thereof ana 10 issue I'm payment Of surh |
purchase Of gold bullion Treasury notes If the !
United states 10 bc prepared hy the secretary |
~ the Trra sury. In such forms and AZ such de- /
nominations. not loss than SO nor moro than |
$1,000. as h" may prescribe. ana . sum sufficient |
10 carry int cff tn" provisions of this ac' Is |
hereby appropriated out 81 any money In the |
Treasury not otherwise appropriated.
Section - That the Treasury notes issued |
I'm accordance with the provisions II this act |
shall be dated upon the last day Of the year IN |
which tn" same issued. and shall be- pay |
able I'm coin on demand forty years after date !
with Interest at the rate of One-tcnth OF pei |
cent per auagn. and shall br legal tender |
for all debts and dues. public and private eX-
ccpt for dutir+ nu imports and interest on the |
public debt. III" Id bullion. the purchase Of /
which is herein provided for. shall not be- coined
until otherwise provided Is law
section --- All laws or parts of laws author
izing the issue Of ntcro st-bearing bonds Of the
United States for any purpose Whatsoever shall
lie and the same are hereby repealed"