Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-03-28
ON THE PORTOlRICAN BILL
SENATE CoNSIDERSs MIR. MoRGAN'S
FREE COINAGE AMENDMENT.
Mr.. Foraker Explains the Proposed
Redemption OF the Peso mt
Sixty Cents, Each.

The Porto Rican thrift and government
bill was under discussionin the Senate yes
terday afternoon for nearly three hours,
but the greater part of the time was con-
sumed in the consideration of a free COIN
age amendment offered by Mr.. Morgan.
The amendment is still pending.
Mr.. Stewart advocated the enactment of
the Spooner bill, which confers authority
upon the President to govern the Philip
pines until Congress shall provide other.
wise, urging that Porto Rico be included
in the measure.
The amendment of the bill was resumed
at the conclusion of Mr.. Stewards speech.
The pending amendment was one relating
to the granting of franchises in Porto Rico.
The paragraph as to franchises was
amended as to read as follows: provided,
however, that all grants of franchises,
rights and privileges or concessions of Il
public or quasi-public nature shall be made
by the executive council, with the approval
of the governor, and all franchises granted
in Porto Rico shall be reported to Congress,
which hereby reserves the power to annul
or modify the same"
Mr.. Morgan offered an amendment to
section seven of the bill, providing for the
free coinage of silver in the United States.
In the course of a speech In support of his
amendment Mr.. Morgan said he found no
provision in the bill for the establishment
of national banks the island.
Mr.. Foraker interrupted to say, There
Is a provision of this bill which extends
all of the laws of the United States to
Porto Rico. which are not locally inappli-
CABLE
Does the senator think national banks
may be established there?" inquired Mr..
Morgan.
Within the limitations named in the bill
| l should say yes" responded Mr. Foraker.
| rptprtp6 MORGAN
Is not a foreign country. There is no ques-
ton about the logic of that proposition"
At the conclusion of an extended speech
| by Mr.. Morgan, dealing with the general
| question of the free coinage of silver, Mr..
! Foraker explained that the provision in the
| bill relating to coinage was simply one for
| the exchange of the Porto Rican silver coin
! into American silver coin. The general
| question Of the free coinage of silver did
| not enter into the matter.
| Mr.. Foraker paid high tribute to Mr..
| Morgan, spoke of the esteem and respect
| in which he was held by the Senate, and
| expressed the hope that the day when he
| should leave the Senate would be far dis
| tant.
| Exchange Of the Peso.
| Mr.. Morgan declared that the pending bill
proposed to take from the Porto Ricans
| the peso, which practically a dollar,
and pay them 60 cents for it.
| To this statement Mr.. Foraker took issue
The Porto Rican peso, he said, was now
| worth about 40 cents in our money in Porto
| Rico. and the bill proposed to pay 60 cents
in money of the United States for it. pro-
1 vided the Porto Rican desired to make the
exchange.
| Mr. Clay: as 1t not a fact that the Porte
| Rican peso contains an ounce of silver, and
| that when recoined into American none.
it will be worth 100 cents?"
| 'Wel.' responded Mr.. Foraker, II DOM
| know what will be done with it, but l dc
| know that we are proposing to pay ths
| Porto Ricans 90 cents for what we could
get at a less price anywhere else. And
may add that the Porto Ricans are much
pleased at the prospect
| An aye and no vote was taken on thu
amendment, but as no quorum was presen
the Senate, at $50 pm, adjourned.