OCR Text |
Show The senate" finance committee will probably report favorably on the Bland silver bill. The discussion of the bill in the committee on Tuesday indicates in-dicates few and unimportant changes in its provisions, and that the majority ma-jority will recommend the passage of the bill substantially as it came from the house, giving the old dollar ol 412J grains full legal tender power. The amendment adopted by the com mittee striking out the free coinage clause and inserting in lieu thereof a provision for the purchase of bullion in the open market by government wilt doubtless be accepted by the house, the leading members of which having already expressed regrets that the original section Bhould have passed that body. The importance ol tbis amendment witl bo readily understood, un-derstood, when it is stated that the price of 412 grains of silver bullion is only about 93 cents, and by the house provision the holder of bar silver sil-ver could have the metal coined free of charge, when his 03 centB would be worth $1 a profit, or gift of 7 cents on the dollar. Of course this would only apply to the holders of bullion at the time of the passage of the bill, after which the price of silver will necessarily rise. The profits of coinage, coin-age, if any, should f 3 to the government. govern-ment. There is a fair prospect of the bill paasinc the senate by enough of a majority to securo the executive approval, ap-proval, and in a short time this coin of the people wilt be restored to its original place in our monetary system. |