The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-02-16

WASHINGTON, Feb 15.-The senate
substitute for the house currency bill was
passed by the senate today by the decis-
i've Majority of 46 to 29 Prior to the final
passage of the bill amendments were con-
sidered under the ten-minute rule. Oaly
two Of these amendments were adopted:
One offered by the finance committee,
keeping the door open to international BIZ
metallism, and one by Mr.. Nelson, of
Minnesota providing for national banks
with $4,000 capital in towns of not more
than 1000 inhabitants.
The vote taken on the various amend
ments offered were practically along
party lines. Mr.. Chandler (Rep, N. H.
voted for the .bimetallic amendment, but
against the bill. Mr.. Caffery Dem, Lao
and Mr.. Lindsay Dem, ky.) voted
against the committee amendment, but
for the bill Mr. Kyle Is. D. was the
only senator who did not vote, and was
not paired.
The free silver substitute offered by Mr..
Jones, the leader of the Democratic side,
was defeated by a majority of 10, the vote
being 47 to %.
The bill, as passed, consisted of ten
sections.
PROVISIONS OF BILL.
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 maintain
ed at parity with 1t; and that treasury
notes and greenbacks shall be redeema-
BILE In gold
The secretary of the treasury is to set
apart fund of $3.50, 900 in gold for the
redemption of these notes, and to main
tain this fund at figure not below $780,
OO0O0O he is empowered to sell bonds of
the United States bearing interest at not
exceeding 3 per cent.
It shall also be the duty of the secretary
of the treasury as fast as standard sill
yer dollars are coined, to retire an equal
amount of the treasury notes, and to is
sue silver certificates against the silver
coined. Under certain provisions, too,
gold certificates 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 $l0
and no silver certificates in denominations
of more than So
L y
thorized to refund the bonded debt of the
Unired States in thirty-year bonds, bear
ing per cent interest, the p 4incipal and
interest of these bonds to be paid in gold.
The 2 per cent bonds shall be isused at
not less than par.
Any national bank, by depositing with
the United States bonds of this country,
shall be permitted to issue circulating
notes to the face value of the bonds de-
posted, no bank being allowed to issue
circulating notes in excess of the amou 1t
of the paid-in capital stock of the bank
MR.. TELLER's SUBSTITUTE.
AS the vote was about to be taken on
the committee amendment Mr. Teller Of
fered the following substitute for it:
"The people of the United States are
in favor of bimetallism and desirous OF
an 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 en-
deavor to secure such an international
agreement as speedily as possible.
Speaking on the proposed bimetallic
amendment Mr. Wolcott declared he wa:
satisfied to accept IN SOOQ IdlIn the state
ments of the honorable senators that they
were favorable to bimetalIism If it coul(
be brought about by international agree
ment, and he expressed his gratitude fol
the proposed amendment of the commit
tee.
II accept It, said he, because know
1T was made in good faith. 1t is enough
for me and enough for any man who is
Republican who desires to bring abou
international bimetallism.
Mr.. Elkins CIV. Va.) expressed his pleas
ure that Mr.. Cockrell, representing hi:
party, had declared against internationa
bimetallisn1. Mr.. Ekins was interrupted
by Mr. Tilinan, who inquired:
s.Are you in favor of an alliance will
any European nation@'
Mr.. Elkins replied that he was in favor
of such an international agreement a.
would enable US to use both gold anC
silver as standard money
aWould you limit the alliance t.
money?' persisted Mr.. Tillman.
.sWell," responded Mr.. Elkins, Il woul(
cross only one bridge at a time Let u,
settle the financial matter first I'll say
however, that I'm not afraid of ALI
ances.
Mr.. Shoup Qdaho) announced his inten
ton of supporting the committee amend
ment and bill.
MIR. Spooner (Rep., Wis., called atten-
ton to the law for an international con
ference, saying this made Mr.. Teller's
amendment unnecessary.
The amendment of Mr.. Teller was de-