repared a
bill of the type known as a "straddle." It offered the advocates of free
coinage the right to send to the mint silver bullion in any quantity
and to receive in return the net market value of the bullion in treasury
notes redeemable in gold or silver coin at the option of the Government.
The monthly purchase of not less than $2,000,000 worth of bullion was,
however, no longer to be required by law. When the advocates of silver
insisted that the provision for bullion purchase was too vague, a
substitute was prepared which definitely required the Secretary of the
Treasury to purchase 4,500,000 ounces of silver bullion in one month.
The bill, as thus amended, was put through the House under special rule
by a strict party vote. But when the bill reached the Senate, the
former party agreement could no longer be maintained, and the Republican
leaders lost control of the situation. The free silver Republicans
combined with most of the Democrats to substitute a free coinage bill,
which passed the Senate by forty-three yeas to twenty-four nays, all the
negative votes save three coming from the Republican side.

It took all the influence the party leaders could exert to prevent a
silver stampede in the House when the Senate substitute bill was brought
forward; but by dexterous management, a vote of non-concurrence was
passed and a committee of conference was appointed. The Republican
leaders now found themselves in a situation in which presidential
non-interference ceased to be desirable, but president Harrison could
not be stirred to action. He would not even state his views. As Senator
Sherman remarked in his "Recollections," "The situation at that time was
critical. A large majority of the Senate favored free silver, and it was
feared that the small majority against it in the other House might yield
and agree to it. The silence of the President on the matter gave rise to
an apprehension that if a free coinage bill should pass both Houses, he
would not feel at liberty to veto it."

In this emergency, the Republican leaders appealed to their free silver
party associates to be content with compelling the Treasury to purchase
4,500,000 ounces of silver per month, which it was wrongly calculated
would cover the entire output of American mines. The force of party
discipline eventually prevailed, and the Republican party got together
on this compromise. The bill was adopted in both Houses by a strict
party vote, with the De