rtificates, and invoked for them the considerate action of
Congress.

He recommended the revision of the tariff law in such a way as not
to impair the just and reasonable protection of our home industries,
the free list to be extended to such domestic productions as our
home industries did not supply. He referred approvingly to a plan
for the increased use of silver, which would be presented by
Secretary Windom.

The plan, submitted by Secretary Windom in his report, for increasing
the use of silver in the circulation, provided that the treasury
department should purchase silver bullion every month to a limited
extent, paying therefor treasury notes receivable for government
dues and payable on demand in gold, or in silver bullion at the
current market rate at the time of payment, and that the purchase
of silver bullion and the compulsory coinage of silver dollars
under the act of 1878 should cease.

On the 28th of January, 1890, Senator Morrill introduced, by request,
a bill which had been prepared by, and embodied the views of the
Secretary of the Treasury. This bill was referred to the committee
on finance, and was reported back by Senator Jones, of Nevada,
February 25, with amendments. The first section of the amended
bill authorized the Secretary of the Treasury to purchase $4,500,000
worth of silver bullion each month, and to issue in payment therefor
treasury notes receivable for customs and all public dues, and when
so received they might be reissued. They were also redeemable on
demand in lawful money of the United States, and when so redeemed
should be canceled. Such portion of the silver was to be coined
as might be necessary to meet the redemptions authorized. Other
sections provided for details by which the plan was to be effected.

To this bill I proposed an additional section authorizing the
deposits of legal tender notes by national banks with the United
States treasurer, to meet the redemption of the notes of such banks
which had failed, gone into liquidation, or were reducing their
circulation, to be covered into the treasury to the credit of an
appropriation from which the money could be withdrawn as necessary
to meet the payments of the notes for which the deposits had been
made. The deposits of this character often exceeded $50,000,000,
but under the plan proposed the money became immediately available
in current disbursements, thus avoiding a hoarding of the notes in
the treasury or th