The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-01-30
VOORHEES, BILL.
Text of the Measure, Which is Very
Friendly to Silver,


Washington, Jan. 29.-At the morn
sng meeting of the Senate Finance COM
mittee, the various propositions en-
bodied in the Jones, Vest, Mop herson,
Smith and Sherman bills were gone
over, and there We're some indications,
toward the close of the meeting, that it
might be possible to secure a majority
vote on a modification of the Jones bill.
There was no vote on any proposition,
however, and the expression Of opinion
was not clear enough to render 1T GER
tain what would be the outcome of the
afternoon meeting, the committee hav-
ing agreed to meet again at : p. m.
MIR. Jones told the committee that if
there was no disposition to unite on the
lines of his bill or any other measure,
he would ask leave to report his bill,
that Il might be brought before the
Senate for action. No disposition was
shown in committee to accept the
recommendations of the President.
The proposition outlined by him for
Old bonds was not received with favor
by majority Of the Democratic men,
berS, and even the Republican mem
berS were aVerSe to committing them
selves to bonds of such duration as the
President recommends.
The Republicans again indicated their
willingness to unite on a measure
granting authority for a loan on notes
Of two or three years time Of sufficient
volume to relieve the treasury from its
present distress but not to so further
at the present time.
The proceedings of the afternoon ses-
sion in the Finance committee were
based on a. bill which had been pre-
pared by Senator Voorhees,. The bill
PROVIDED simply for the issuance of
short time certificates, which were to
be used for the purpose of making good
the reserve and OF meeting che reve-
nue. deficiency; but when the afternoon
session opened he had added a clause
providing for the free coinage of silver
There was a motion to strike out the
silver provision, which was lost on a
tie vote Of 8 10 s. all the Republican
members and Senator Mcpherson
CDsmOCraD voting for the motion and
ell the Democrats opposing it. A vote
was then taken on the proposition as
q whole, and it was lost by a vote of Z
to 8. Senator Vest and Senator White
as well as Mcpherson voted with the
Republicans.
There was also tie vote on a, motion
by Senator Aldrich to substitute the
Springer bill for the Voorhees, bill. Fol
lowing is the text of the Voorhees,
bill:
That to enable the secretary Of the
treasury to provide for and to maintain
the redemption Of United States notes.
and also to enable him to pay current
deficiencies in the revenue, he is au-
thorized, IN additions to the provisions
Of the act of January II, 1875, from
time TO time, at his discretion, to issue
certificates OF Indebtedness OF the Uni
ted States payable to the bearer in
coin after three years from date at the
option of the United States Of the de-
nominations of $50, $50 and 500, with
seml-annual coupons for interest
at the rate of 8 per cent De. annuno
and 10 sell and dispose Of the same for
not less than an equal amount of the
lawful money of the United States at
designated repositories of the United
States, and at such postoffices as he
may select. And such certificates shall
have like qualities, privileges and ex-
emptions described in the resumption
2ct Of January Il, 1875, for the bonds
therein authorized and the proceeds
thereof shall be used for the purpose
prescribed in this act and for no other
purpose.
Section 2-That upon any deposit all
ready or hereafter made in the manner
required by law Of any United States
bonds or certificates bearing interest.
or any national banking association
making the same, shall be entitled Ia
receive from the comptroller of the cur
rency circulating notes Of different de
nominations in blank, registered and
counterSigned, as provided by law, not
exceeding the whole amount Of the mar
value OF the bonds; providing that al
no time shall the total amount of such
notes issued to any such association
exceed the amount at such time ac-
tuaily paid in of it's capital stock
Section 3-That from and after the
passing Of this act, the secretary al
the treasury is hereby authorized and
directed 10 receive at any United
States mint from any citizen of The
United States silver bullion of standard
genuineness and fneness and coin the
same into silver dollars of 4121b grains
each. The seigniorage on the said hui.
lion shall belong TO the United States
and shall be the difference between the
coinage value thereof and the price 81
the bullion in London on the day the
deposit is made; and all expenditure
for coinage done under the provision:
OF this act shall be paid out OF SAID
treasury shall deliver TO the depositors
OF such bullion standard silver dollars
equal in amount to the price thereof
as aforesaid, and whenever the SAID
coins herein provided for shall be re.
ceived into the treasury, certificates in
denominations of less than $40 may
be issued thereon in the manner now
provided for by law.
The committee adjourned Without
agreeing on any definite time of meet
ing and some Of the Republican mem.
bers said afterwards that they saw nc
reason for any more meetings as it hac
been made evident 1t would be impossi