The herald., 1895-01-30
SENATOR VOORHEES, HAS A PLAN
A Bill to Provide Short Time
Certificates.
The Finance Committee Discuss the
New Measure.
Ne Actisn Taken, Vote ON tho ffope-
sitien RssrIting In rie-rhs
Measure In Detail.

w.urseroy Jan. 29.--This afternoon the
finance committee discussed bill which had
beer prepared by Senator Voorhees, The Dill
provided simply for the issuance OF snort time
certificates which were to be used for the pur-
nose Of making goodly reserves and OF meeting
the revenue deficiency. There was motloh
10 strike out the clause providing for the free
eoiusae OF silver, which was lost on tie
vote OF ; to s. all of the Republicans
and Senator Mcpherson, voting for the motion
and all the Democrats oppo,ing it. vote
wns then taken ON the proposition as whoie'
and it was lost by vote of to B. senator
Vegtand Senstor White as well as MeFhersoi
voted with the Republicans. There was also
tie vote on a motion by Sanator Aldflcn' 10
substitute the Springer bill for the voorhees,
hin. Following Is the text OF the voorhees,
bill,
THAT to eusble the secretary of the treasury
to provide for and to maintain the redemption
of United States notes and also TO enaple I'm
to nav current deficiencies in the revenue ne
is authorized, in addition to the provisloi.i;s o.
the act OF January H. 1879, from time TO time'
Mt his discretion, to issue certificates OF IN
debtcdness of the United states, payapie "
the bearer in coin altar three years from oate
at the option OF the United States OF the de-
nominations $40, $50 and $780, win semi,
annual coupons for interest az the Tate Oh .
per cent per annum, and TO sell and dispose VI
lawful money OF the United states at uesls'
mated repositories OF the United states ana az
such postofices as he may select Ana such
certificates shall have like Qualities. privileges
end exemptions described In the resumption
act OF January IA, 1873 for the BONDS tnerein
authorized and the proceeds thereof shall be
used for the purpose prescribed In tnls act anu
for no other purpose.
Section 2.-Thst upon any deposit already OF
hereafter made in the manner required by law
OF any United States bonds or certihcates bear
sner inta 81 ara n National hawking
ton making the svme, shall be entitled TO re-
ceive from the comptroller OF the currency
circulating notes Of different denominations in
blank, registered and cup0n, as provided by
law, not exceeding the whole amount, the par
value OF the bonds providing at no time snail
the total smount OF such notes issued to any
such association exceed the amount AT such
time actually paid in of its capital stock
Section 3-That from and after the passage
of this act the secretary of the treasury is
hereby authorized and directed to receive at
any United States mi mt from any citizen OF the
United States silver bullion OF standard genu-
ineness, fineness and coin the same into sll-
yer dollars of ABB grains each, me seigni3Sr,
United States and shall be the difference be,
tween the coinage value thereon ana
the price S Of the bullion 5a sep ,n L0H
made and all expenditures for coming done
under the provisions OF this act shall be paid
out OF said seigniorage. and the secretary OF
the 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 Tor
shall be received 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 meeting and some of
the Republican members said afterwards that
they saw no reason for any more meetings. as
il had been made evident that it would be i'm
possible TO accomplish anything in the com
mittee There was a full attendance of the
committee, except that Senator Jones of Ne
vada was absent. 1t was his absence that
caused the tie vote II he had been present
his vote would have been cast with the silver
Democrats.