The Caucasian. (Clinton, N.C.) 188?-1913, 1900-02-22
GOLD STANDARD FIXED.
The Senate Passes the Gold FinanciaI
Bill
SENATE.

! SENATE.
Forty-ffth Day.-The final weeks
discussion OF the pending financial
Dill was begun in the Senate. The
speakers were two Republicans, Mr.
Elkins, Of West Virginia, and Mr.
Wolcott, of Colorado, and one Popu-
list, Mr.. Butler. of North Carolina. Mr.
Elkins advocated the passage of the
pending Senate measure in brief but
fOrceHul argument. Mr.. WolcOtt,
chairman Of the international bimet-
allie commission Of 1897, spoke for
many Republicans who adhere to BIZ
mcC3l!ism, and his speech, earnest and
eloquent, was accorded unusual atteu-
ton Mr.. Butler advocated the adup-
tion Of his amendment providing 70:
an Issue OF paper currency by the gov
ernment.
A house bill for the preservation OF
the frigate Constitution was passed
the measure providing that the ship
should be restored as nearly as posi-
bic to its original condition.
a bill was also passed extending the
powers and functions of the court Of
private land claims until June 80, 1902.
r.2 financial bill was then called up,
anu Mr.. Elkins addressed the Senate.
Forty-sixth Day.-The day was spent
in heated discussion of the financial
bill. After a short session an adjourn
ment was taken.
Forty-seventh Experimentation is
session the Senate had the financial
bill under discussion. After 2 o'clock
the debate proceeded under the 10 hin
ute rule and at times became spirited
and Interesting.
Late in the afternoon a test vote. in
dicating approximately the majority
on the passage of the bill was taken.
Mr.. Chandler, Rep, n. H.. offered an
amendment to authorize the President
To appoint commissioners to any inter-
rational bimcta!lic conference that
M.GAt be called ard it was defeated
BY vote of 40 to 25. The Chandler
proposition out OF the way the discus
sion proceeded on the amendment
Drought in by the finance committee.
providing that the provisions CT the
DlI are not Intended to place any OBJ
stacles in the way Of international BIZ
mCttalll3m. The Democratic Senator'S
arraigned the Republicans for report
ing the amendment declaring htey were
insincere, and that the proposition was
intended to hOodWink the people and
to catch votes.
No vote on the amendment was
reached.
Forty-eighth Day.--The Senate sub
stitute for the House currency bill VS.
passed by the Senate by the decisiva
majority of IS to 90 Prior to the iinaT
passage Of the bill amendments werj
considered under the ten minute rule.
Only two of these amendments wer6
adopted, viz, one offered by the FL
nance Committee, keeping the Goo:
open TO International bimetaliiSm and
one Nj. Nelson, OF Minnesota. providl
ing for national banks with s25,O 0J
capital in towns of not more thar,
four thousand dollars tn shrd sbrd
four thousand inhabitants.
The bill as passed, consists Of tel
sections. It provides that the dollat
OF 25S grains OF gold, 8 fine. shall b,
the standard unit Of value and that ali
forms OF United States money Shall bi
maintained at a parity "th i; and
that the treasury notes and greelbacx5
shall be reIeema5le in gold.
The secretary CT the treasury IS u
set apatr fund CT 2J0,000,009 II gold
for the redemption OF these notes ami
to maintain this fund at a figure net
below $100 Gee 600 he is empowered ID
sell bonds of the United States bear
ing interest at not exceeding htree Dc.
cent.
IL shall also be the duty Of the secre-
tary Of the treasury as fast as stand
ard silver dollars are coined to retro
equal amounts of treasury notes and 10
Issue silver certificates against the sill
yer so coined. Under certain provis-
ions, too, gold certificates shall be is
sued against the gold held in the
Treasury. No United States notes Or
treasury notes shall be issued in de-
nominations of less than 10 dollars and
no silver certificates in denomination
or more than ten dollars.