New-York tribune., 1901-01-25
SOUND MONEY SAFEGUARDS
ALL DANGER FROM FREE SILVER WILL
BE OBVIATED BY AN ACT TO RE-
COIN SILVER DOLLARS INTO
SUBSIDIARY COIN.
SUBSIDIARY COIN.
TBY TELEGRAPH TO THE rIuBUxr.l

Washington. Jan. 24.-To-day the initial step
was taken in the last move Of the Republican
party so 10 hedge the Nations monetary system
about with safeguards as to preserve It from
all the danger that would threaten the Gov
ernment's financial security in the event Of the
elevation to the Presidency Of any Of the Bryan
tie school of doctrinaires This action taken
as the direct response TO the note Of alarm
raised by Secretary Gage in the recent cam
paign when he showed that there was at least
one loophole in the Gold Standard law passed
by the last session of Congress.
The Secretary of the Treasury pointed out
that If Bryan were elected there nothing
to prevent his practically putting the country
on a silver basis by meeting Government obli-
cations with the 5O-cent silver dollars. 1t is
true that Mr.. Bryan In course of the campaign
refused resoluteIy to commit himself on th-
important question, though it was neve~ doubted
that he would do what Secretary Gage said he
could do had he been elected.
The managers Of both parties realized the
potency Of this issue in the campaign, despite
Mr.. Bryans refusal to commit himself. and the
Republican leaders pledged themselves 10 rectify
at this session Of Congress the mistake 10 which
the Secretary Of the Treasury had called at
tention. Keeping faith with this pledge, the
Committee on Coinage. Weights and Measures
to-day reported to the House a bill formulated
By Representative Ebenezer J. Hin, of the IVth
District of Connecticut
WHAT THE BILL PROVIDES.
The title of the bill is IAN act TO maintain
the legal tender silver dollar at parity with
gold" and provides follows:
That the Secretary of the Treasury Is hereby
directed coin the silver bullion in the Treas
ury, purchased under the act OF July If. 1890.
into such denominations OF subsidiary silver coin
as he may deem necessary to meet public re-
quirements and thereafter, public necessities
may demand, to recon silver dollars into sub
sidiary coins
The Secretary Of the Treasury is hereby d.
rected to maintain at all times at parity with
gold the legal tender silver dollars remaining
outstanding. and to that end he is hereby di
rected to exchange gold for legal tender silver
dollars when presented TO the Treasury in the
sum Of 50 or any multiple thereof. and all pro-
visions or law for the maintenance of the reserve
fund in the Treasury relating TO United States
notes are hereby made applicable to the X
change Of legal tender silver dollars
The vote by which a favorable report Of the
bill was ordered was on strict party lines. The
Democratic and Populist members of the com
mittee. under the leadership of Mr.. Cochran OF
Missouri; Mr.. Shafroth OF Colorado and Mr..
Gaines. of Tennessee, are preparing a minority
report, and the fight will thus be carried into the
House on the old party lines. The minority
port will not be made until Chairman Southland
receives from William Jennings Bryan a COM
munication embodying the Demo Pop views
on the subject. Mr. Southard this morning re-
ceived telegram from Mr.. Bryan at Lincoln. in
response to the invitation extended at the in
stance OF Mr.. Shafroth to appear before the COM
nittee and expound his slverte doctrines IN
his telegram Mr.. Bryan said:
Inconvenient to visit Washington. but shall be
pleased to submit views in writing, If you will
send me copies Of pending measures.
BRYAN's VIEWS" EXPECTED SPEEDILY
AS copies of the bill already had been sent to
the Nebraskan, it IS presumed that he is at
work on his views" and will forward them TO
Washington with all proper speed, in order that
his disciples on the Coinage, Weights and Meas
ures Committee may make their minority report
Perry Belmont, Of New-York. who was put for
ward by Representative Levy Tammanylte. as
''the greatest living Democratic exponent of
sound money" also telegraphed to Chairman
Southard that IL was impossible for him to ac-
cept the committees invitation to appear be-
fore it to-day and present his views No an
swer has been received from the invitation ex-
tended to the dark horse" trotted out by Mt
Gaines Of Tennessee, as "the greatest living
exponent of free silver coinage''-the Hon. Perry
Kinnard, of Nashville.
No day has yet been set for debate on the bill
in the House. It is the purpose of Messrs
Southard and Hill 10 wait reasonable time for
| the "Demo-PoPs' to submit their minority re-
port, and then TO ask for a special rule confer
ring the necessary privilege upon the bill. 1t
will then be rushed through speedily and sent
to the Senate. assure it's enactment into
law at this session.
Experts declare that the last analysis of the
measure shows that it is possible for its opera
tions completely to extinguish the present silver
dollar from it's present position in the circulation
Ballantne's India Pale Ale is the perfection of
rev