Fisherman & farmer. [volume] (Edenton, N.C.) 1887-19??, 1894-03-30
THE BLAND BILL PASSED.
THE SENATE FAVORS COIN
AGEOF THE SEIGNIORAGE.
The Measure Agreed to by a Vote of
~ to 81 Even tts Friends Sur
prised at the Large Majority in
Its Favor - The Vote in De
taiI-Sent to the President

~ to 31-Even It's Friends Sur
prised at the Large Majority in
Its Favor - The Vote in De
tail-Sent to the President.
The Bland seigniorage bill was passed IN
the Senate, Just as il came from the House.
by vote of A yeas TO 81 nays. When the re-
ault was announced there was hand clap
ping in the crowded galleries. which
breach of order WAS rehuked by the pre-
siding officer The Republicans who
voted for the bill were Senators nu-
bOis, HaRsbrOuGh Mitchell (OregoR). Pet
tigrew. Power. Quay. Shoup, Stewart Tel
ler and WOlCOtt The Democrats who vote |
against it were Senators Brice. CafT"ry,
German, McPherson. Mitchell twisN, MIR
ply, Palmer. Smith and Villas. The three
POpulist Senators, Messrs. Allen. Kyle and
PETER. voted for ii.
Mr.. Hill announced his pair with Mr.
Dixon. As the bill passed without any
amendment, its next stage was TT pres 'uta
tiOn to the President for his approval or
disapproval Preparatory 10 the vote five
short speeches wero made -thEee in favor ot
the bill aad two against it Ne other huSi-
ness of public Importance was transacted /
and the Senate At 10 Adjourned.
The majority in favor IF the passage Of the
Bland seigniorage bill was unexpecte lly
derestimated the number of its supporters
Senator Villas, who is regarded as tho
spokesman of the Administration, indicAi eel
in his speech that the President did not favor
the passage Of the bill Senator Lindsay. on
the other hand who is regarded as an Al
ministratiOn man, and who is at lsast "a
mOuthpiece for Secretary Carlisle, spoke and
voted in its favor
The action of Senator Hill in recording his
vote in favor of the selgniOrage bill. for this
is practically what he did do. being paired
with Senator Dixon, a strong opponent of II.
created much comment which is increased
by the fact that his colleague Mr.. Murphy.
voted against the bill. Nj Murphy say he
voted against the bill because he was satls-
fled that it was objectionable to his ideas ON
tho financial question.
Following is the vote in detail on the pas
sage of the Bland seigniorage bill
Yeas Allen, Bate, Berry, Blackburn.
Blanchard, Butler, Call CockrelI. Coke. col
quit. Daniel, Dubois. Faulkner. George. Cor
don, HansbrOugh, Harris, Hunton Irny,
Jones, of Arkansas Kyle, Lindsay. McLau-
rim. Martin. Mills. Mitchell. of Oregon Nor
gan. Pasco, Peffor. Perkins. Pettigrew,
Power, Pugh. Quay. Ransom. Roach. ShOup.
Stewart. Teller, Turpic, Vest, Voorhees,,
White, Wolcott-44.
Nays-Aldrich, Allison, Brice. Carroy,
Carey, Chandler, CulIOm. Davis Do.ph.
Gallinger, German, Gibson, Hale Hawley,
Higgins, Lo tge. Mcmillan. Mcpherson. Man
derson, Mitchell, of Wisconsin Morrill,.
Murphy, Palmer. Platt. Proctor, Smith,
StockbrIdge, Villas, Washburn. Wilson 81
Definition of "Seigniorage.'
The New York Recorder offered a prize OF
twenty-five dollars for the best definition OF
the word "SsigniOrage,' so frequently hear
of late in connection with the silver qurs-
ton. definition of the word given hv
Senator Sherman, and agreed to by silver
Senators, is in these words THE seiGniur
age is merely the difference between the
coinage value OF the silver and its cost
The clearest, briefest. and. on the whole,
best statement of what "SeigniOrag" means
as applied to the existing financial condition
of this country was that received from Nj.
Fred. J. Herzog of New York. 20 whom there
fore the paper has awarded its prH". Mr
Herzog's definition is IS follows
"SeigniOrage consists OF the difference be-
tween the cost of an amount of bullion and
the face value of the coins minted from It
By the Sherman act tn" Government was
compelled to purchase 400, 900 ounces 81
silver per month, at the market price. A.
the price of silver fiuctuated, 50 the amount
of Treasury notes issued in payment OF thls
bullion sometimes increased. sometimes I'll
minished. The downward tendency havIn@
been greater in he last few years. there were
issued. from the time of the passage OF th'
Sherman act to its repeal, Sl54 .WO.OOJ III
Treasury notes, to cover an amount OF hui
lion which should actually have made ZO9,
600 900 silver dollars lr other wor'ts, ther'
is now an amount of bullion Gin ex3"@s OF the
reserve necessary to cover the l54,OOO ,0Ol
Treasury notes in the Treasury which, 4
coined. would make SIS OOO, 900 silver dollars
against which the segniOrage bill is 10 issue
paper currency, and so put $55 ,O0O, 900 il
the Treasury and help the Government out
of its financial difficulties