Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1896-01-07
SENATE SOLUTION
o. tbs "Condition Which Nov
Confronts U.s."
BILL FOR FREE SILVER COINAGE

Agreed to by the Finance Committee as .
substitute for the House Boad BILL
Text of the Measure and Vote on the
same-Ecpublican senators to Caucus ON
the Tariff and why-President's Little
Faith In n Popular Loan.
WASHINGTON, Jan. 7.-FollowinR Is the
full text OF the substitute for the bond
bill adopted by the senate finance commit
tee:
That from and after the passage Of this
act the mints Of the United States shall
be open to the coinage Of silver, and there
shall be coined dollars Of the weight Of
four hundred and twelve and one-half
grains Trey, Of standard silver, nine
tenths fine. rs provided by the act Of Jan.
Is, lS:i,. and upon the same terms and SUBJ
jet 20 the limitations and provisions of law
regulating the coinage and legal tender
quality Of gold; and whenever the said
coins herein provided for shall he received
into the treasury certificates may be IS
sued thereon in the manner now provided
by law.
section THAT the secretary Of the
treasury shall coin into standard silver
To- the provisions Of section one Of this act.
from the silver bullion purchased under
authority Of the net of July II, 1899, en-
titled An net directing the purchase of
silver bullion and the issue of treasury
notes thereon, and for other PURPOSES
that portion Of said silver bullion which
represents the scigniuragc or profit to tho
government, to wit, the dit renee be-
tween the cost of the silver purchased un-
der said net and its coinage value, and
said silver dollars SO coined shall be used
In payment of the current expenses of the
government; and for the purposes of max
ing the said seigniorage Immediately
available for Use rs money, the secretary
OF the treasury Is hereby authorized and
directed to issue silver certificates against
1t, rs IL it was already coined and in tho
treasury.
section J--That no national bank note
shall be hereafter issued of IA dcnomina-
tion less than ten dollars. and all notes Of
such banks now outstanding of denomi-
nations less than that sum shall be, IA
rapidly rs practicable, taken up, redeemed
and cancelled, and notes of ten dollars
and larger denominations shall be issued
in their stead under the direction of tho
comptroller of the currency.
''scction THAT the secretary Of the
treasury shall redeem the United States
notes, commonly called grccnbacks and
also thc treasury notes issued under tho
provisions Of the act Of July Ii, 1880, when
presented for redemption, in standard sill.
v'r dollars or in gold coin, using for re-
dcmption of said notes either gold or sill.
vcr coins, or both, not at the option of the
holder, but exclusively at the option of
the government; and said notes, common.
ly called grccnbacks, when so redeemed
shall be rcissucd rs provided by tho act Of
May 81, 1873"
Tho Votes For and Against.
The substitute was adopted without dis
cussion, the vote being to D. Wolcott
was absent. but his vote was counted for
The bill. The yeas were: Voorhees,. Har-
ris,: Jones of Arkansas, Ven, White,
Walthall (Dcms. }, Jones of Nevada (Pop)
Wolcuts tRcp). Tho nays were: Morrill,,
Sherman, Allison, Aldrich and Flatt. The
Democrats indicated their willingness
after tha bond bill was disposed of to take
UP the tariff bill. but the Republicans
asked for further time In order To submit
the tariff To the Republican caucus.