Evening star., 1896-06-11
A CURIOUS BILL
Mr.. SINNERS Idea Of Securing In
ternational Free Coinage.
TEE GOVERNMENT TO SELL COTTON
Commission Provided to Make All
the Arrangements.
WHAT HE SAYS OF THE PLAN

There were many curious bills introduced
during the session of Congress now closing,
but Representative Skinner, populist, North
Carolina, has the distinction of having put
before the House the most unique of all
measures. Like many other bills, it died
in committee-a painless death-as abso-
lutely no consideration was given IL. Two
or three facts combined to bury it. One
was that it was introduced in the last of
April, and was referred to the ways and
means committee, which already had its
hands full. Another was that the few
members of the committee who looked at
the bill considered it too visionary and i'm
possible to pay attention to.
MIR. Skinner, who was the author of the
famous subtreasury demand of the AL
lance, admits that there was no chance
for his latest scheme to become law, but
says that he wanted to show that the
United States has the weapon in it's hands
10 force silver coinage, and at the same
time not only put stop to the expectation
of gold, but bring the precious metal to
thls country from across the water.
To Corner Cotton.
In brief, the bill proposes a grand gov
ernmental corner of the cotton crop of
this country, and the forcing of certain
financial changes, which seem impossible
to accomplish by regular legislative meth
DDS.
The title Of the bill was ITO secure inter-
national free coinage Of silver at the ratio
OF 10 to L; to maintain the gold reserve;
10 regulate the expectation and to protect
the production and manufacturing of cot
ton within the United States"
lew of the Ideas proposed in the bill
nave peen seriously considered for years
py prominent men. but as a whole such a
law as Is proposed by Mr. Skinned has
never emanated from any law-maker.
Inc bill provides that after the passage
OF the act no raw cotton shall be exported
from the United States without permission
ana under direction of the Secretary of the
treasury The Secretary, under the rules
ana regulations prescribed, must purchase
ana export raw cotton on account of the
treasury.
commission is provided for, to make all
arrangements for the disposition of the
cotton. The commission is to consist of
the Secretaries of Agriculture and Urea s.
ury, together with the commissioners of
agriculture of each of the ton-producing
states: This commission must meet in
washington not earlier than February or
iater than August to formulate plans to
purchase, store, sell and export tho cron
The cotton shall be graded and a price
laeo. ana snail be delivered at points or
ports hxed by the Secretary who shall nav
Ior II IN treasury notes of any denomira
uon' redeemable in gold, or silver at the
Iauo OF IL TO l. or government 2 per cent
ponus' payable in series, and within TWEEN
ty-hve years. having the same PRIVILEGES a 9
existing bonds 90
Inc secretary Is authorized to sell "a
american manufacturers at cost, adding
the usual expenses for storage insurance
cIc., and they Can pay in trea surv notes
bonds. gold or silver or currency Tbav
are not prevented from buying directiS
from the planter 1'
For export the Secretary must sell for
net ADVANCE of :S 1-3 per cent, and
Eers Is where the bill gets in it's work on
Eold standard countries, according tn Mr.
skinners g views. From bimetallic Countries
which desire to buy the Secretary shall ac-
Sept payment In the same class of money
ne is authoriZed to accept from American
nanu1acturers. From single standard
gold countries the bill says, "he shall ex-
act payment in gold until there shall be an
international agreement for the free coin
Sse OF silver at the ratio Of IL to l." Such
an agreement will operate as a repeal OF
the act. This is the germ of the bill II is
designed to force international action on
the money question.
What Mr.. Skinner Says.
Mr. Skinner says he does not believe in
ternational agreement necessary to free
coinage Of silver, but believes his pIan ex-
emplihes the ability Of this country to force
almost any kind of agreement with foreign
countries If 1T desires. Mr.. SINNERS argu
ments in behalf of the bill are as interest-
ing as the plan itself.
Il claim" said Mr.. Skinner. that the
Dill would secure international bimetallism
AS an example, say that the conmissjo,
provided for had met in February last and
agreed to give the planter 10 cents a pound.
en- the basis of middling cotton. The single
standard gold countries absorb the hulk Of
cur export cotton and are obliged to have It.
Under my plan they would have to nav
1888 cents poand in gold. Estimating
that they must have and will take five mil.
lion bales, there would be covered into the
treasury of this country $500 900. 900 IF
kept up, this would drain the single stand
ard countries of their gold in a few wears
and make us the dominating factor in the
worlds finances. To prevent this tho single
standard governments would soon come TO
an International agreement for the coinage
of silver. This is preferable to hawking our
bonds and surrendering our credit to an
English syndicate"
Mr.. Skinner claims that the United States
would reap net revenue of a hundred mil
lion dollars yearly, and that both the plant
er and manufacturer In this country would
De nlgnly benefited. The manufacturer
would have big advantage over foreign
manufacturers. This, he says would slim
uiate manufacturing interests and make
this country the exporter of manufactured
goods. 1t would encourage the planter, as
ne would know what to expect for his CROP
Unless something is done to regulate the
price OF cotton and to prevent the control
ling influence of single standard countries
Mr.. Skinner thinks this country will have
to go out of the cotton-growing business.
The bonds growing out Of the PLAN" Mr..
Skinner says. would form a basis for the.
creation of new system Of banking, and
within themselves furnish a currency. The
government can become the owner of the
southern cotton crop. with handsome rev
enue attached, and under the conditions
that surround us 1t is but patriotic that
we exercise this great commercial power
to save our country from wreck and ruin
If the Belmont-Morgan-R -Rothschild syndi-
cate had the same lever power, they would
crush us In twenty-four hours"
Knocked Down.