Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1900-02-24
SENATE PASSES THE
CURRENCY MEASURE
ubstitute for the House Financial
Bill Goes through With
Two Amendments.
HE VOTE is en- PARTY LINES
3nrrics 10y 40 10 20 -.Amendments
Relate la international hi
mctnIlism and Nat ohai
Banks.

amendments were considered under
the ten-minute rule. Only two of these
amendments were adopted, Wis: One
offered 10y the finance committee
6eeping the door open TO ih%terhation-
al bimetallism. and one by Senator
Nelson, of Minnesota, providing for
national banks with $4,000 capital in
towns of not more than 1000 inhabit-
ints.
The votes taken on the various
amendments offered We're practically
along party lines, Senator Chandler,
republican, Of New Hampshire, voted
for The b%inletallic amendment, but
against the bill. Senator Caffefy,
democrat, of Louisiana, and Lindsay,
democrat, of Kentucky, voted against
he committee amendment, but for
the bill. Senator Kyle, of South Da-
kota, was the only senator who did
not vote and was not paired.
The free silver substitute, offered
by Senator Jones, the leader of the
democrats in the senate, was defeated
by a majority of 10, the vote being
II to 2S. The bill as passed consists
of ten sections.
1t provides that the dollar of 25.S
grains of gold, nine-tenths fine, shall
be the standard unit of value, and
that all forms of United States money
shall be maintained at u parity with
it; and that the treasury notes and
~greephacks shall be redeemable in
gold.
The secretary of the treasury Is TO
set apart a fund of $50. 000, 900 in gold
for the redemption OF these notes, and
TO maintain this fund at a figure not
below 500, 000, 900 he is empowered to
sell bonds of the United States bear
ing interest at not exceeding 3 per
cent.
1t shall also be the duty of the sec
rotary Of the treasury, as fast as
standard silver dollars are coined, 10
retire an equal amount Of treasury
notes and to issue silver certificates
against the silver so coined. Under
certain provisions, too, gold c~ertifi-
Gates shall be issued against the gold
held in the treasury. No United
States notes or treasury notes shall
be issued in denominations Of less
than SO. The secretary of the treas
ury is also authorized to refund the
bonded debt of the United States in
thirty-year bonds bearing 2 per cent
interest, the principal and interest of
these bonds TO be paid in gold. The
. per cent bonds shall be issued at not
less than par. Any national bank, by
.depositing with the United States
bonds of this country. shall be permit
ted to issue circulating notes to the
face value of the bonds deposited, n %
bank being allowed to issue circulat-
ing notes i'm cNceSS Of the amount of
the paid i'm capital stock of the bank.
After the passage Of the financial
bill the senate adopted the Hawaiian
government bill as the unfinished
business.
After routine business had been
concluded the amendment to the
financial bill offered by the finance
committee was laid before the senate.
The amendment reads:
""The provisions of this act are not
intended TO place any obstacles in the
way Of the accomplishment Of %interna-
tional bimctalllsm, provided the same
be secured by concurrent action of the
leading commercial nations Of the
world and at a ratio which shall insure
permanence of relative value between
gold and silver"
Considerable debate followed, par
ticipatcd i'm by Senators Hoar, Plat of
Connecticut. Aldrich, Wolcott, Elkins,
Shoup and Spooner for the amendment
and Senators Morgan, Cockrell and
Teller against il.
The vote was about to be taken on
the amendment when Senator Teller
offered the following substitute for it:
"The people of the United States are
in favor of bimetallism and DESTROYS Of
international agreement with the
great commercial nations Of the world
that will admit Of The use of both gold
and silver at such an established ratio
as will maintain the parity between
gold and silver coins, and the efforts
of the government are hereby pledged
to endeavor to secure such an intprna-
tionai agreement as speedily as posi-
The amendment of Senator Teller
defeated, % to Is. the vote being
along party lines except that of Sen
ator Chandler, republican, Of New
voted for the amendment,
and Senators Gallery, democrat, OF
and Lindsay, democrat, of
kentucky, voted against it.
A vote was then taken upon the
amendment, and it was
adopted, As to 30, as follows:
Ycas-Aldrich. Allison, Beveridge.
Burrows, Carter, Chandler. Clark of
Cullom. Davis. Deboe, De-
pew, Elkins, Fairbanks, Foraker, Fos-
ter, Frye. Gear, Hale, Hanna, Hans
brough, IIawley, Hoar. Kean. Lodge,
Mcbride. McComas, McCumber, Nc
Mason, Nelson, Penrose. Per-
Platt of Connecticut. Plat of
New York. Pritchard, Quarles, Ross,
Scott, Sewell, Shoup, Simon, Spooner,
Netmore. Wolcott-45.
Nays-Bate, Berry. Butler, Gallery,
Chiffon. Clark Of Montana. Clay, Cock
rell. Culberson. Daniel, Harris, Heit-
feldt, Jones of Arkansas. Jones Of Ne
rada. Kenny. Lindsay. McEnery, Nc
Laurin. Martin. Mallory. Morgan. Pet
fus. Rawlins. Stewart, Sullivan. Talia-
Terro, Teller, Tillman, Turley, Vest
30.
An amerdrent offered by Senator
providing for the payment 81
bonds Of the Omitted States in coin Of
The standard fixed by the act of July
IA. 1879. was laid on the table, A to 20.