Rensselaer Republican, Volume 23, Number 17, Rensselaer, Jasper County, 25 December 1890 — WASHINGTON. [ARTICLE]

WASHINGTON.

Senator Sherman reported totbe Sen ato from the finance committee Thursdaymorning the financial bill agreed upon by the Republican caucus,-and it was recommitted to the finance committee. The only change of consequence made in the mens-' ure was to limi t to banks having a capital of $50,000 each tho operation of tho provision reducing to SI,OOO the compulsory requirement of deposits of bonds with the Treasury. In addition to the features of the bill heretofore described the measure

contains a requirement upon the Secretary of the Treasury to issue treasury notes to the amount of $10,000,000, based upon the abraded and otherwise un current subsidiary stiver coin now in the treasury: also Senator Allison’s proposition, for an international arrangement to secure uniformity ia tho ratio in silver coinage, with a provision for the appointment of three commissioners to represent the United Statesaud an appropriation for their salaries and expenses.

Tho third caucus of the Republican Senators was held on the night of the 17th and resulted in agreement. The basis was the adoption of the financial scheme reported by the caucus committee, with the exception of the 2 per cent, bond project, which was eliminated. So the mcas ure will provide for the purchase of the twelve million dollar silver bullion sur blus, the reduction of tho compulsory reuirement of band deposits by nationi banks, the extension of the national bank circulation to the full amount, of their bond doposits,thc replacement of the deficiency in national bank circulation below #ISO,090,000 by treasury notes based on silvor bullion purchases; the provision for freo coinage, when silver is maintained at par for one year; the provision for a charge on the conversion of gold coin into bars and the re-coinage of the subsidiary silvor coins. This measure was not satisfactory n every detail to all Senators, but was accepted as the best compromise.