The morning times., 1896-01-03

proposed to exercise IL.
The five Republican members of the COM
| mittee, Messrs. Morrill,, Sherman, Allison,
| Aldrich and Plat. who constitute the only
] anti-silver men OF the body, were given to
understand that nothing could be reported
! from the committee that did not meet the
approval of the silver element.
| The discussion was. at times, quite heated,
| especially when Mr.. Sherman was accused
| by some of his silver colleagues with seek
ing to retire the greenbacks, although he
| had. they said, up to the day he introduced
! his resolution in the Senate. been strongly
in favor of keeping these notes in constant
4 circulation.
| SHERMAN DEFENDED HIMSELF.
Mr.. Sherman, tits understood denied that
| he was in favor of the retirement or can
| collation. of the greenbacks and asserted
| that such Senators as understood his posi-
ton in that light evidently did not compre-
| hend the purport of the resolution he had
introduced.
The committee remained in session an
hour and a-haif, when a recess was taken
| until Today, at which time it Is expected
the silver men will have agreed upon some
definite measure.
Immediately after the adjournment the
Democrats. together with Mr.. Jones, Pop.
Nevada, held a conference and discussed
the terms of bill which they will offe,
as a substitu Mr.. Jones of Arkansas
was appointed as a subcommittee to draw
the bill and present it 10 the silver men
| before the meeting OF the committee to-
day.
FREE COINAGE MEASURE.
This substitute will, 1t is believed, pro-
vide for legislation that will open the
United States mintS TO the free and un-
limited coinage of both gold and silver
at the ratio of sixteen TO one, and the
issue Of certificates thereon in the manner
now provided by law; withdra wing from
circulation all national bank notes of de-
nominations of less than SO and the
substitution therefor of notes of SO or
more: directing the Secretary of the Treas
ury to coin the bullion in the Treasury
purchased under the Sherman act into
standard silver dollars and redeem the
Treasury notes issued for the purchase of
this bullion in such silver dollars; directing
the Secretary OF the Treasury to redeem
the greenbacks in either silver or gold
coin OF both, as the condition OF the Treas
ury may require, and when so redeemed re-
quiriDg them to be reissued.
The way in which these ideas will be
finally put into legal rerbiage has not been
definitely determined, but the silver men
are fixed in the purpose to provide for free
coinage and prevent the nactment or any
new authority for the issue of bonds.
The substitute will be offered at today'S
ton not to make a report TO the Senate
until next Tuesday the report may, or
course, be ordered to be made today.
REPUBLICANS IN SESSION.
While the silver men were discussing this
matter the Republicans were in conference
on the same bill and the tariff measure
thatis now before the committee, but which
was not discussed. The Judgment of The
Republicans is that action should be speedy
so that the country may know what to
expect OF the Senate.
While they know the silver men will
insist upon a silver bill, they do not expect
to see tlem solidify on a specific measure
as soon as the silver men themselves hope
they will be able so to do. IT. however.
the silver men do agree at once the Republi-
cans will permit ii to come to a vote in
committee without delay and the measure
will he reported with a strong minority
report.
The Republicans of the Finance Com
mittee appear to he of the opinion that
tie tariff bill as il came from the House
should he amended in one or two par
ticuiars and this VIII probably be done. In
this they will have the support of their
silver colleagues, and the bill as thus
amended vil go to the Senate with the
understanding that no amendments shah
be permitted there.
The tariff bill will not, however, be
reported and acted upon until the bond
bill is out OF the way. The Republicans
have been carefully canvassed and the
leaders say that the r men will vote
solidly with the committee to put d own all
amendments that may be offered in the
Senate, either with a view to opening up
the general revision of the tariff CT for
the purpose of amending the bill to death
WANT NO RIDERS.
The silver Republicans Will content them
selves with voting to put q free silver
substitute on the bond bill and will not
support such a proposition should it be
made by the Democrats in the shape of a
rider on the tariff bin.
Lending Democrats have stated to their
Republican colleagues that they are willing
to permit vote 10 be taken on the bill
without undue delay and if the Republicans
have the votes with which to carry the
measure through il is pICbable that it will
reach the voting stage within a reasonably
time after il is reported.
Word reached the committee yesterday
in an unofficial way that the President will
take notice of yesterdays failure to act on
the bill and the advance knowledge OF what
that action will be, and not wait for the
Senate to vote upon the committees report.
1t is reported at the Capitol that an issue
of one hundred millions of bonds would be
ordered before the end ofnext week and that
the gold would be raised largely abroad.