Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1894-03-09
FIGHTING CHANCE
Left for Republicans on the
Seigniorage Bill.
The Democrats Forced to Allow Them
to Express Their Views.
Sherman Spoke Thursday and Allison Will
Have the Floor Today.

| WAsIINGroN March SIN the Senate a
personal explanation was made by PETER
deny Jog the published statement that he
| and Senator Kyle had complained of dis
courtesy on the part of the finance commit
tee in not allowing them to be heard before
it. He said he purposely refrained from
troubling the committee knowing the diff
cultes that it had to contend against from
Democratic senators, and said h would
vote against the bill if wool and sugar were
put on the free list, and manufactured ar,i-
cles put on the dutiable list.
The calendar was taken up in regular
order for bills unobjected to. The first bill
on the calendar was one referring to the
McGarrahan claim to the court of private
land claims. Objection was made by Nor
rll and the bill retains its place at the head
of the calendar. Numerous pension bills
were passed, including one giving $50
month to the widow of Gen. Ethan Allen
| Hitchcock.
At p. M. the Vice President laid before
the Senate the unfinished business, being
the Bland seigniorage act, the pending ques-
ton being on Allison's motion to reconsider
the vote of yesterday, ordering the engross-
ment and third reading of the bill.
Sherman expressed the hope that the
Senate would make no real objection to
Allison's motion, so as to leave the bill
open to amendment. He declared there
was no disposition on his side of the cham
Der to prevent action on the bill He sug-
gested that senators on both sides should
proceed in the matter without taking advan-
tags of the rapid declaration on the part Of
the presiding officer that the bill he read
the third time.
Harris declared that the bill had reached
the present stage through the regular
methods of procedure and he knew of no
| reason Why the bill should not be disposed
of in 80 minutes.
Sherman appealed to Harris as kind
hearted man and man observant of the
courtesies of the Senate, whether it was
wise TO insist upon the result of the vote
taken without the knowledge of several
senators. He argued that the bill was a
violation of public faith, as declared in the
act of 1870, which pledged to the redemp-
ton of silver certificates the entire silver
bullion purchased by them.
lie believed it was the beginning of an
unlimited issue of paper money to meet
current expenditures and believed it would
be a substitute for the bi-metallic standard
of gold and silver the monometallism of
silver only.
The act of 1890, he said, meant clearly
that the silver ,ullion purchased under it
should be coined into dollars as needed to
redeem silver certific 4tes. There was in
the treasury in 1890, $50 100000 silver
dollars, and it had been felt by every one
that the c)insg. of silver bullion shouli not
be continued further. Provision bad been
deserted in the law of 1890 that after the
year, the coinage Of silver dollars shonld
only go forward at the discretion of the
secretary of the treasury and as needed for
the redemption of treasury notes. The act
of 1890 provided ths, the silver bullion re-
sulting from it should remain in the treas
ury as the security Of treasury notes issued
for its purchase.
1t happened Sherman continued, in two
or three years which followed the frs. of
July, 1891, that the secretary of the treas
ury ami his successor had not coined the
silver bullion. The seisniorage did not
arise III til after the bullion was coined. ond
tn. refore the provision of the act of 1890
TContinued on % page.1