Red Lodge picket. [volume] (Red Lodge, Mont.) 1889-1907, 1896-01-11
TO REDEEM IN SILVER
Finance Committee Has Sub
stitute for the Bond Bill.
WILL COIN The sEIGNI0RAGE
Government Is to Pay for Greenhachs
In Standard Dollars When
the Occasion Arises.

Washington, Jan. g. The senate
finance committee has decided to report
the senate substitute for the house bOnd
bill the measure agreed upon by the
silver majority. The substitute pro-
vides for the free coinage OF silver, Io1
the coinage Of the seigniorage IN the
treasury, and to redeem greenbacks ana
treasury notes IN either gold or silver.
The bill will be reported TO the senate
tomorrow. The silver substitute also
provides for he retirement or all nooes
of less denomination than $lO.
The following is the full text OF tue
substitute for the bond bill adopted py
the senate finance committee today:
That from and after the passage OF TINS
act, the mints Of the United states slaii
he OMEN to the coinage Of silver, and there
sha1I be coined dollars of the weight OF
4i2Is grains troy, Of q standard silver,
niue-tenths fine as provided by the act OF
january 1S 1887 and upon the same Terms
and subject to the limitations ana pro-
visions of the law regulating the com
age and legal tender quality OF gold, ana
whenever the said coins herein proVlaeu
fer shall be receiy ed into the treasury,
49, - -
manner now provided by law.
That the secretary Of the treasury shall
coin into standard silver dollars as soon
as practicable, according TO the proVls-
ions of this act. from the silver bullion
purchased under authority OF the act OF
July H. 1890 entitled AN act directing the
purchase Of silver bullion and issue treas
TRY notes thereon, and tor other purpoS-
es," that portion Of the said silver bullion
u-Ii q
to the government, to-Wit: the difference
between the cost Of the silver purchased
under said act and its coinage value,
and said silver dollars SO coined shall be
used in payment Of current expenses OF
the government; and for the purpose OF
making the said seigniorage Immediately
available for use as money, the secretary
of the treasury is authorized and directed
to issue silver certificates against 1t as
If it was already coined and in the treas
ury.
That no national bank notes shall
be hereafter issued for de-
nomination less than $40 and all
notes Of such banks now out
standing of denominations less than that
sum, shall be, as rapidly as practicable,
taken up, redeemed and cancelled and
notes Of $40 and larger denominations
shall be issued in their stead under the
direction of the comptroller of the cur
rency.
That the secretary of the treasury shall
redeem the United States notes, commonly
called greenbacks, and also the treasury
notes issued under provisions Of the act
of July IA, 1890, when presented for re-
demption in standard silver dollars or in
gold coin, using for redemption Of the
said notes either gold or silver coins or
both, not at the option Of the holder, but
exclusively at the option of the govern
ment, and said notes commonly called
greenbacks, when SO redeemed shall be
reissued as provided by the act Of May
81, 1878.
The substitute was adopted without
discussion, the vote being to 5. Sena-
tor WolcOtt was absent, but his vote
was counted for the bill
Yeas-Voorhees, Harris, Jones Of Ar
kansas, Vest, White, Walthall. democrats;
republican.
Noes-Morrill, Sherman, Allison, Aldrich
and Platt.
The democrats Indicated their willing
ness, after the bond bill was disposed
of, to take up the tariff BILL but the re
publcans asked for further time in or
der to submit the tariff to the republi-
can caucus.
A BRIEF SLs,IU> IN THE HOUSE
Member From Utah Is Compelled to
Wait for Ills Credentials.
Washington, Jan. 6.-The session Of
the house today was exceedingly brief.
Mr.. Broderck Of Kansas made a re-
quest for unanimous consent for swear
ing in Clarence Z. Allen, elected to rep
resent the new state Of Utah. He ex-
plained that Aliens election was regu-
lar, and there was no contest, but as
the governor and other state officers did
not assume their offices under the pres
idents proclamation until today, their
signatures to Mr.. Aliens credentials Of
course had not been signed.
Mr.. Crisp Of Georgia did not question
the facts as stated, but thought Mr.
Allen should not be sworn in until a
report had been made upon the case by
the committee. The matter was referred
to the judiciary committee, with leave
to report at any time.
On Mr.. Hits motion a resolution
was adopted appointing William L.
Wilson on the board of regents of the
Smithsonian institute.
At 1920 the house adjourned until to-
morrow.
A caucus Of republican senators will
be held tomorrow to consider the ques-
tions that have arisen in the house tar
iff bill. The committee is undecided
between reporting the bill without
amendments and amending it SO as to
make sure Of the support Of certain
sena tors who have indicated DISPOSE
ton to press very strongly for in
creases
There IS some apprehension lest the
silver republicans and the populists,
who 1t Is believed, would ordinarily
support a tariff bill, may insist upon
adding a free coinage amendment to
the tariff BILL and it is hoped the eau
Gus will have the effect Of indicating
what may be expected from the repub-
lican silver senators.
OF EX-GOVERNOR CURTIS