The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1896-01-07
TO COIN THE SILVER
The Senate Finance Committee Will
Report a Substitute.
OTHER PROVISIONS MADE
To Redeem Creenbaoks and the
Treasury Notes of 1890 In Coin
House Tariff Bill to be ConsId-
cred In Republican Caucus.

ered In HepuOiCan CauCuss
Washington, Jan. 6-The senate
finance committee has decided 10 re-
port to the senate as a substitute for
the house bond bill the measure agreed
upon by the silver majority. The sub
stftute provides for the free coinage OF
silver for the coinage of the seignior-
age in the treasury, and to redeem the
greenbacks and treasury notes In eth
er gold or silver. The bill viii be re-
ported In the senate tomorrow. The
silver substitute also provides for the
retirement of all notes of less de-
nomination than $40.
The finance committee immediately
began consideration Of the tariff bill
1t is said this bin will be reported sub
stantially as IL came from the house.
except that an advance OF 15 per cent.
of the present duty on sugar VIII be
provided for. and the agricultural sche-
dule will be increased to 20 or 20 per
cent of the present law. II Is expected
the tariff bill will be ordered reported,
thought the absence of Senator oWlcott
may prevent such action to-day unless
pair In the committee can be arrang-
ed for him.
Following Is the full text Of the sub
stitute for the bond bill adopted by the
senate finance committee to-day: That
from and after the passing of this act.
the mhnts of the United States shall be
open to the coinage Of silver. and there
shall be coined dollars OF the weight of
42h grains. troy. of standard silver.
nine-tenths fine. as provided by the act
of Jan. IS, 1887. and upon the same
terms and subject TO the limitations
and provisions of the law regulating
coinage and legal tender quality OF the
1 gold, and whenever the said coins here
in provided for shall pe received into
the treasury. certificates may be issued
! thereon in the manner now provided
1 by law.
That the secretary of the treasury
/ shall coin into standard silver dollars.
as soon as practicable. according 10
the provisions OF this act. from the sl-
yer bullion purchased under authority
of the act OF July IA. 1890. entitled: An
act directing the purchase of silver bull
lion and the Issuance of treasury notes
thereon, and for other purposes" that
| portion of said SILVER bullion which
represents the seigniorage. or profit TO
| the government, to-wit: The difference
| between the cost of the silver purchas-
| ed. under said act, and it's coinage val
| ue. and said silver dollars 30 coined
| shall be used In payment OF the current
| expenses OF the government. and for
the purpose of making the said sefg-
niorage Immediately available for use
as money. The secretary OF the treas
| ury Is authorized and directed 20
issue silver certificates against II as II
| II was already coined and in the treas
ury. That no national bank note snail
be hereafter issued for a denomination
such banks now outstanding OF denom-
anajtions less than that sum shall be as
rapidly as practicable. taken up. re-
deemed and cancelled. and notes OF ten
dollars and larger denominations shall
| be issued In their stead under the IL
rection 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 the
provisions OF the act of July IA. 1890.
when presented for redemption IN STAN
dard silver dollars or in gold coin. US
ing for the redemption OF said notes
either gold or silver coins. or both, not
at the option of the holder. but exclu-
stvely at the option of the government,
and said notes, commonly called green
backs. when 50 redeemed. shall be re-
issued as provided by the act OF May ii.
1878.
The substitute was adopted without
discussion. the vote being to 5. Sena-
tor Wolcott was absent. but his vote
was counted for the bin. Yeas-Voor-
hees. Jones OF Arkansas. Vest. White.
walthall. democrats; Jones OF Nevada.
populist, and Wolcott, republican
Nays-Morrill. Sherman. Allison. Al
drich and Platt
The democrats indicated their WILL
ingness. after the bond bill was dis
posed OF. TO take up the tariff bill. but
the republicans asked for further time
In order TO submit the tariff TO the re-
publican caucus.