The morning times., 1896-01-07

| Ii took the Senate Committee on Finance
| yesterday afternoon less than fifteen min
| 1tes 10 order a favorable report on free
coinage biii as a Substitute 10 the House
| bond bill. which has been before that COM
| mittce for several days.
| On motion OF Mr. voorhees, former chair
man OF the committee all after the onacting
| clause was stricken cut and the following
| substituted:
Section. That from and after the passage
| OF this act The mints OF the United States
shall be open to the oOinage OF silver, aud
| there shall be coined dollars OF the weight
of 4l2 1-2 grains troy OF standard silver
| 9-io fine, as provided by the act OF Ja puary
| Ia. 1887, and upon the same terms ana SUBJ
ject 10 the limitations and provisions or law
| regulating the coinage and legal tender
| quality OF gold; and whenever The said coins
herein provided for shall be received into the
| Treasury certificates may De Issued therefor
in the manner now provided by law.
FREE COINAGE PROVISION.
Sec. z. That the Secretary OF the Treas
! ury shall coin into standard silver dollars,
| as soon as practicable. according to the
provisions OF section l of this act, from
the silver bullion purchased under The
authority of the act OF July IA. 1890, en-
titled An act directing the purchase Of
silver bullion aud the issue OF Treasury
notes thereon and for other purposes
that portion of said bullion, which repre-
seuis the seiguiorage OF profit TO the gov
ernment, 10 wit, the difference between
The cost of the silver pu released under said
act and its Coinage value, aud said silver
dollars so coined shall be Used Ia the
payment of the current expenses of the
government; aud for the purpose OF making
said seiguiorage Immediately available
for use as money. the Secretary OF the
Treasury is hereby authorized and directed
Ia issue silver certificates against 1t, as If
ii were already Coined and in the Treasury.
AS TO BANK NOTES.
Sec. 5. That no national bank note shall
be hereafter issued OF n denomination less
than ten dollars, and all notes Of such banks
now outstanding of denominations less than
that SUM shall be, as rapidly as practica BILE,
taken up, redeemed and cancelled. and notes
of ten dollars and larger denominations shall
be issued in their stead under the direction
of the comptroller of the currency.
Sec. 4. That the Secretary OF the Treas
ury shall redeem the United States notes,
commonly called greenbacks, and also the
Treasury notes, issued under the provisions
OF The act of July l 4, 1890, when rTtSe.i,Dn
for redemption, in standard silver dollars
or in gold coin, using for redemption of said
notes either gold or silver COINS, ur i.U.4i.
not at the option OF the holder. but eN
clusively at the option OF the Treasury De-
partment, and said notes, commonly called
greenback, when SO redeemed. shall be
reissued as provided by the act OF May
81, 1873.
REACHING AN AGREEMENT.
This measure was agreed upon at a con-
ference OF the silver members of the COM
mittee in the morning, all the silver men
being Democrats but one, Mr.. Jones, of
Nevada.
Immediately upon the assembling OF the
full committee this bin was presented and
a vote called for. There was no debate.
The bill was read and by yea and nay
vote, 7S to 5, a favorable report was
ordered TO be made The report Will be
made TO the Senate today by Mr.. Jones, OF
Arkansas.
Whether there will be protracted debate
remains to be seen. Some of the leading
silver men say the subject has been gone
over so often that il would be useless 10
debate 1t further.