1888. CONGRESSIONAL RECORD-SENATE. 2389 

The following petitions, praying for the enactment of a law providing temporary aid for common schools, to be disbursed on the basis of 

illiteracy, were severally referred to the Committee on Education: 

By Mr. DAVIS: Of 115 citizens of Dukes County, Massachusetts. 

By Mr. HAUGEN: Of107 citizens of Barron County, Wisconsin. 

By Mr. JACKSON: Of 318 citizens of Lawrence County, Pennsylvania. 

By Mr. KERR: Of citizens of Johnson County, Iowa. 

By Mr. McCORMICK: Of 209 citizens of McKean County, Pennsylvania. 

By Mr. PATTON: Of 464 citizens of Union County, Pennsylvania. 

By Mr. J. W. STEW ART: Of 141 citizens of Bennington County, 

and of 116 citizens of Addison County, Vermont. 

By Mr. YARDLEY: Of 174 citizens of Montgomery County, Pennsylvania. 

The following petition, asking for the passage of the bill prohibiting 

the manufacture, sale, and importation of all alcoholic beverages in the 

District of Columbia, was referred to the Select Committee on the Alcoholic Liquor Traffic: 

By ~1r. PAYSON: Of 148 citizens of the Ninth district of Illinois. 

SENATE. 

MONDAY, March 26, 1888. 

Prayer by the Chaplain, Rev. J. G. BUTLER, D. D. 

The Journal of the proceedings of Friday last was read ·and approved. 

PETITIONS AND MEMORIALS. 

The PRESIDENT pro tempore presented two petitions of citizens of 

Massachusetts, praying for prohibition in the District of Columbia; 

which were referred to the Committee on the District of Columbia. 

He also presented a petition of citizens of Kansas, praying for the passage of the per diem rated service-pension bill; which was referred to- the Committee on Pensions. 

M1·. HALE presented a petition of the board of regents of the Dakota Agricultural College, praying for legislation authorizing that board 

to select and reserve f1·om any public agricultural lands now in the Territory, or which may soon become available for this purpose, the mini- mum amount, 90,000 acres, for the endowment of that college; which was referred to the Committee on Territories. 

Mr. SHERMAN presented a petition of 81 wool-growers, citizens of 

Ohio, protesting against the further reduction of the duty on wool and 

praying for the restoration of the wool duty of 1867; which was re- ferred to the Committee on Finance. 

Mr. PAYNE presented twenty-three petitions of 970 ex-Union soldiers and sailors, citizens of Ohio, praying for the passage of the per 

diem rated service-pension bill; which were referred to the Committee on Pensions. 

He also presented the petition of 11 citizens of Cleveland, Ohio, and 

the petition of Rev. J. B. Hammond and 11 other male citizens of Saybrook, Ohio, praying for the better legal protection of women and girls 

within the Territorial, admiralty, and maritime jurisdiction of the 

United States; which were referred to the Committee on the Judiciary. 

He also presented petitions of the Amalgamated Association of Iron 

and Steel 'Vorkers at Bridgeport, Youngstown, Mingo Junction, Ironton, Massillon, Girard, New Philadelphia, and Canal Dover, in the State 

of Ohio, in favor of a protective tariff policy; which were referred to the 

Committee on Finance. 

i\Ir. MORRILL presented a petition of citizens of Gaysville, Vt., 

praying for the passage of the per diem rated service-pension bill; which was referred to the Committee on Pensions. 

Mr, STOCKBRIDGE presented the petition of R. R. Smith and 29 

other ex-Union soldiers, citizens of Michigan; the petition of August 

Ludwig and 19 other ex-Union soldiers, citizens of Michigan; and the 

petition of George H. Sexton and 399 other ex-Union soldiers, citizens 

of Michigan, praying for the passage of the per diem rated service-pension bill; which were referred to the Committee on Pensions. 

Mr. SABIN presented a petition of citizens of Breckenridge and 

Barnesville, in the State of Minnesota, praying for the passage of a bill 

prohibiting employment of convict labor in trades competing with free 

labor; which was referred to the Committee on Education and Labor. 

1\Ir. CAMERON presented seven petitions of ex-Union soldiers and 

sailors, citizens of Clifford, Carbondale, White Haven, Muncy Franklin, and Rockport, in the State of Pennsylvania, praying for'the passage of the per diem rated service-pension bill; which were referred 

to the Committee on Pensions. 

He also presented a petition of the Trades Assembly ~f Western 

Pennsylvania, praying for the pasaage of a bill for classification of 

clerks in first-class post-offices; which was referred to the Committee on Post-Offices and Post-Roads. 

He also presented a petition of Osterburgh Grange, No. 737, Patrons 

of Husbandry, of Bedford County, Pennsylvania, praying for the passage of a law to prohibit the sale of adulterated lard and other food 

products; which was referred to the Committee on Agriculture and 

Forestry. 

Mr. ALLISON presented a petition of Mills County Pomona Grange, 

No. 1, Patrons of Husbandry, of the State of Iowa, praying that agricultural products shall be equally protected with manufactured articles, etc.; which was referred to the Committee on Finance. 

He also presented a petition of Mills County Pomona Grange, No. 1, 

Patrons of Husbandry, of the State of Iowa, praying that the patent 

laws be so amended as to protect the innocent purchasers of patented 

articles; which was referred to the Committee on Patents. 

He also presented a petition of the Mills County Pomona Grange, No. 

1, Patrons of Husbandry, of the State of Iowa, praying that the Commissioner of Agriculture he made a Cabinet officer; which was referred 

to the Committee on Agriculture and Forestry. 

He also presented a petition of the Mills County Pomona Grange, No. 

1, Patrons of Husbandry, of the State of Iowa, praying that foreign immigration shall be restricted so ::1.'3 to keep out all paupers and criminals 

of the Old World; which was referred to the Committee on Foreign Relations. -

He also presented a petition of the Mills County Pomona Grange, No. 

1, Patrons of Husbandry, of the State of Iowa, praying that the postage on seeds, bulbs, ci.ons, etc., be reduced 50 per cent.; also, that fractional 

currency be reissued;a1so, that postal notes be abolished; also, that money 

orders for $5 or less be issued for a fee of 3 cents; which was referred to 

the Committee on Post-Offices and Post-Roads. 

He also presented a petition of the Mills County Pomona Grange, No. 

1, Patrons of Husbandry, of the State of Iowa, praying that United 

States Senators be elected by a direct vote of the people; which was re- ferred to the Committee on Privileges and Elections. 

He also presented a petition of 35 surviving soldiera and sailors of 

the Union Army and Navy, citizens of Mount Vernon, Iowa, praying 

for the passage of the per diem rated service-pension bill; which was referred to the Committee on Pensions. 

He also presented a memorial of the I. M. Huston Post, No. 394, 

Grand Army of the Republic, Department of Iowa, in favor of the 

passage of a substitute for the dependent pension bill, and outlining 

the provisions thereof; which was referred to the Committee on Pensions. 

Mr. CALL presented a memorial of merchants of Cedar Keys, Fb., 

remonstrating against the passage of a bill providing for the consolidation of the St. Uarks and Tampa custom-house districts, and praying 

that the custom-house at Cedar Keys may be retained; which was re- ferred to the Committee on Commerce. 

:Mr. COKE presented a petition of citizens of Fate, Tex., praying 

for increased compensation to fourth-class postmasters; which was re- ferred to the Committee on Post-Offices and Post-Roads. 

Mr. PLATT. I present the petition of J. W. Alsop and other citi- zens of Middletown, Conn., praying for the paEsage of Senate bill283, 

relating to Yellowstone Park. As that bill has been 1·eported, and is now on the Calendfllr, I move that the petition lie on the table. 

The motion was agreed to. 

Mr. DAVIS presented a petition of ex-Union soldiers and sailors, 

praying for the passage of the per diem rated service-pension bill; 

which W:l.'3 referred to the Committee on Pension.Q. 

He also presented a petition of citizens of Minnesota, praying for protective legislation for wool and woolen goods; which was referred to 

the Committee on Finance. 

He also presented a petition of the Agriculturnl College at Brookings, Dak., praying legislation granting them authority to select and reserve 90,000 acres as primary school lands; whiC'h was referred to the 

Committee on Territories. 

Mr. TURPIE presented a petition of Henry Ganson and otht3rs, ex- Union soldiers, citizens of Indiana, praying for the passaO'e of the per 

per diem rated service-pension bill; which was referred ""to the Committee on Pensions. 

Mr. WILSON, of Iowa, pres~nted a petition of 27 surviving soldiers 

ofthe Union Army and Navy, residents of Williamsburgh, Iowa; a petition of 34 surviving soldiers and sailors of the Union Army and Navy, 

residents of l\Ioun t Vern on, Iowa.; and a petition of 98 citizens of Decatur Couuty, Iowa, praying for the passage of the per diem rated 

service-pension bill; which were referred to the Committee on Pensions. 

Mr. HARRIS presented a petition of citizens of Tennessee, praying 

that a pension be granted to Eliza Ann Woods; which was referred to 

the Committee on Pensions. 

Ur. MORGAN presented a petition of citizens of Calhoun County, 

Alabama, praying for the repeal of the internal-revenue laws; which was referred to the Committee on Finance. 

Mr. FARWELL presented the petition of August G. Schoenborn and 

others, citizens of the District of Columbia, praying for the passage of 

an act authorizing the commissioners of the District of Columbia to 

widen the alley in square 686, running from B to C street, northeast; 

which was referred to the Committee on the District of Columbia. 

Mr. HISCOCK presented a petition of 275 ex-Union veterans, citizens 

of the State of New York, praying for the passage of the per diem rated 

service-pension bill; which was referred to the Committee on Peneions. 
2390 CONGRESSIONAL RECORD-SENATE. 

He also presented a memorial of 46 members of the New York State 

Agricultural Society, remonstrating against the passage of the Palmer 

cattle-commission bill; which was referred to the Committee on Agriculture and Forestry. · He also presented a petition of the wood-pulp industry companies 

of the State of New York, praying that the present duties on woodpulp be maintained; which was referred to the Committee on Finance. 

Mr. PLUMB presented a petition of ex-Union soldiers and sailors, 

citizens of Kansas, praying for the passage of the per diem rated servicepension bill; which was referred to the Committee on Pensions. 

He also presented a petition of 63 citizens of the Third :::.nd Fifth Congressional districts of Kansas, praying for prohibition in the District of 

Columbia; which was referred to the Committee on the District of Columbia. . He also presented a petition of the Gun Club ::md citizens of White 

City, Kans., praying for the passage of the bill setting apart a certain 

tract of land lying near the headwaters of the Yellowstone River as a public park; which was ordered to lie on the table. 

Mr. FRYE presented the petition of Hector Mcintosh and others, 

citizens of Pennsylvania; the petition of .lll. L. Coburn and others, citizens of Pennsylvania; the petition of Clara G. Rowley :mdothers, citi· zens of Pennsylvania; the petition of Joseph May and others, citizens 

of Pennsylvania, and the petition of D. C. Ritchie and others, citizens 

of Pennsylvania, praying for the pa....~e of a bill extending protection 

to girlhood by raising the age of consent in females to eighteen years; 

which was referred to the Committee on the Judiciary. 

Mr. BROWN presented the petition of the executive board of the 

National Farmers' Alliance, praying for the establishment of a department of agriculture with a Cabinet minister at its head; which was re- ferred to the Committee on Agriculture and Forestry. 

1\lr. PAD DOCK presented a petition of 20 ex-soldiers, citizens of Clay 

County, Nebraska, and a petition of the Per Diem Rated Service-Pension Association of New York City, officially signed, praying for the 

passage of the per diem rated service-pension bill; which wererefened 

to tho Committee on Pensions. 

Ur. DOLPH presented a petition of the Marion County Pomona, 

Grange, of Oregon, praying that the work of eradicating pleuro-pneumonia be continued under the Bureau of Animal Industry; which was ordered to lie on the table. 

1\Ir. EVARTS presented a petition of the executive board of the 

N a tiona! Farmers' Alliance, representing organized bodies of farmers in 

the United States, comprising an aggregate membership of 1,400,000 

persons, praying for the enactment of a law during the present session 

of Congret'5 establishing a department of agriculture with a Cabinet 

minister at its head; which was referred to the Committee on Agricult· 

ure and Forestrv. 

He also presented a petition of the Medical Society of the county of 

Rensselaer, N.Y., praying for the removal of import dut.y on all medical and surgical supplies, instruments, and appliances; which was re- ferred to the Committee on Finance. 

He also presented a petition of Typographic..'ll Union, No. 98, of 

Brooklyn, N. Y., praying for the passage of the Chace bill providing for an international copyright law; which was ordered to lie on the table. 

HealsopresentedapetitionofR. D. Lathrop Post, No.138,GrandArmy 

of the Republic, Department of New York; a petition of 102 ex-Union 

soldiel's and sailors, citizens of Cohocton, N. Y.; a petition of 44 ex- Union soldiers and sailors, citizens of Union Springs, Cayuga County, 

New York; a petition of 27 ex-Union soldiers and sailors, citizens of the 

State of New York; and a petition of 29 ex-Union soldiers and sailors, 

citizens of Scottsville, Monroe County, New York, praying for the passage of the per diem rated service-pension bill; which were referred to 

the Committee on Pensions. 

He also presented the petition of George H. Lawrence, late first lieu- tenant Company E, Second New York Mounted Rifles, praying for an increase of pension; which was referred to the Committee onPensions. Mr. SPOONER. I present a memorial of the Turnve.rein, of Milwaukee, Wis., remonstrating, first, against the passage of any laws tending to make the right of immigration dependent on the personal views 

of the immigrant, or which may be so construed as to restrict and impede 

immigration; second, in favor of the laws against the importation and 

landing of bond slaves or laborers under contract being strictly enforced. 

I move that the petition be referred to the Committee-on Education and 

Labor. 

· The motion was agreed to. 

1\Ir. SPOONER.. I also present a petition of citizens and members 

of the Grange of the State of Wisconsin, praying that there be no further 

extension of the time for the payment of the public debt; second, that 

there be no extension of charters of the national banks, and no increase 

of the percentage of the currency to those banks on their present se- curities; that the duties on sugars be abolished, with a bounty to home 

producers; that there be restored to wool-growing the substantial protection enjoyed under the tariff of 1867, so modified as to meet the later 

forms of foreign competition and evasion; and prayingior protection to 

agriculture in other indicated ways. I move that the petition be re- fened to the Committee on Finance. The motion was agreed to. 

CONSIDERATION OF THE CAI,ENDAR. 

1\lr. EVARTS. If it be in order now, I would ask the attention of 

the Senate to the propriety of going on for to-day and to-morrow with 

the Calendar. On Wednesday, as we know, the Senate will not be in 

session, and the last two days of the week, Thursday and Friday, a certain number of Senators will be necessarily absent in attendance at 

the funeral of the late Chief-Ju tice. It seems to me that we should 

all feel under obligation to go through with the Calendar, and these 

two days might well be occupied in that way, and the general debates 

opened after Wednesdaytill they shall be completedortheSenateshall 

otherwise order. I would a13k, if the Senate concur in this feeling, 

that there may be a general consent to that course to-day being con- tinued under the same arrangement as heretofore. 

The PRESIDENT pro tempore. The Senator from New York asks 

unanimous consent that the unexecuted order of Friday for the con- sideration of the Calendar under Rule VIII be continued to-day and 

to-morrow. Is there objection? 

Mr. MORRILL. With this exception, Mr. President: When this or- der was made I had previously given notice that last Tuesday I would 

call up the bill (H. R. 5034) to provide for the purcrmseof United States 

bonds by the Secretnry of the Treasury. I desire to call up that bill 

this morning. I think it will take but a few moments, and after that 

bill is passed I shall have no objection to going on with the Calendm:; 

but until that bill bas been taken up and considered I object to anything else. 

1\fr. PLA.TT. 1\fr. President, I am willing to consent that the order 

shall stand for to-day, as I think that was implied in the order which was made on Thursday that it should continue on Friday or the next 

legislative day. As we had no day on Friday for business, I think it 

is equitable and fair that the order should be continued for to-day; but 

I would not like to con ent to longer than to-day. 

Mr. PALMER. I tbink there is a special order down for 2 o'clock 

to-day. Although I do not wish to appear intract..'lble in this matter, 

I should not like to give my consent to ha,ve that displaced or deferred 

without consultation with gentlemen who are here now waiting for ac- tion on that bilL 

Mr. PLA.TT. I suppose this debate goes on by unanimous consent, 

and I ask permission to say a word. 

The PRESIDENT pro tempore. The morning business has not yet 

been concluded, and therefore the debate proceeds by unanimous con- sent. 

Ur. PALMER. I ask the Chair if i~ requires unanimous consent to 

displace the special order made for to-day at 2 o'clock? 

'l'he PRESIDENT pro tempore. A special order can be displaced by a majority of the Senate, when it is reached. 

Mr. PLA.TT. I tijink that special order ought never to have been 

made, for this reason: A long time ago I gave notice that upon the con- clusion of the undermluation bill I would move to take up the bill 

for the admission of South Dakota. I do not think that any business can be more important than that of the admission of new States. 

The Committee on Territories has already reported three bills for the 

admission of new St..1.tes, and I have another on my table ready to report, and I think that the import..w.ce of those measures requires their 

consideration. I have, however, acceded to .the general wish of the 

Senate that the Calendar should be proceeded with; but here comes in this special order. I do not know that I want to antagonize it; but 

I simply say that I do not wish to consent that this order shall run longer than to-day. 

Mr. PALMER. I think that the Senator was on the floor or in the 

Senate at the time that special order was made. 

Mr. PLATT. · I was in the chair, I think. 

Mr. PALMER. And it seems to me that his remarks would have 

been more pertinent at that time than at this in regard to the propriety of making that special order. I would say, in regard to the comparative importance of the bills, 

that I regard the pleuro-pneumonia bill, so called, as of much more importance than the admission of any Territory. Dakota would not 

ask for admission if pleuro-pneumonia were permitted to run riot 

through that Territory. The people could not live there. If it did 

not become a desert it would be deserted. People must have cattle, 

must have animals, must have the domestic animals, and if pleuropneumonia gets across the Mississippi River it will be said of Dakota, as it was of Rome,Dakotafttit, if gentlemen will permit mea.littleLatin. 

Mr. PLATT. 1\Ir. President, whether the remarks of the Senator 

from Michigan are intended to be jocose or not I am unable to tell--

:Mr. PALMER. In great seriousness, 1\Ir. President. 

1\fr. PLATT. But I assume that made in the Senate of the United 

States they are serious. I think he will hardly convince the people 

of Dakota or of this country that his bill is of more importance than 

the question of the admission of a new State. The admission of a new State goes to the honor, the dignity, the power, and the glory of this 

whole nation. Territories add but little to the honor and glory and 

the strength of the nation. The nation is a system of States, and the 

addition of a St.<tte gives us power and standing among the nations of 

the earth; and I can only account for the sentiment of the chairman of 

the Committee on Agriculture, that his bill is of more importance than 
1888. CONGRESSIONAL REOORD-SENATE. 2391 

the question of the admission of a State, upon the theory that it comes 

from his committee. 

Mr. REAGAN. Mr. President, I was not in my seatwnen the order 

was obtained by which the bill to pl'Ovide for the establishment of a 

bureau of animal industry was set for to-day. If I had been here I 

should have objected to making a special order of it. I never learned 

the fact that it was so set until Saturday. The people of the State I 

in part represent have perhaps a larger interest in that subject than 

those of any other State in the Union. The people of that State have 

a very deep interest in anything that relates to cattle raisiJlg and cattle transportation, and they are very earnestly opposed to the passage 

of this bill; and I hope it will not be taken up to-day, or until we ca.n 

get time to look into the subject, which I have not yet had an opportunity t.o do. It is a question of great importance, and it ought to be 

fairly considered. 

Mr. P .ALMER. Ur. PresidentThe PRESIDENT pro tempore. Debate proceeds by unanimous .consent, the morning business not having been concluded. 

Ur. PALMER. I ask the courtesy of the Senate to state that this 

is a bill of very great importance and of as much importance or more to 

Texas than any other State, and I hope if it shn.ll be defeated it will 

not be defeated by measures of retardation or indirection. I hope that 

the thing will be discussed on its merits, and unless the Senate sees fit 

to change the spedal order I think, without further information from 

gentlemen who are here waiting in the interest of the bill, I shall ask 

that the special order be observed as it now stands. 

Mr. VEST. I rise to morning business. 

The PRESIDENT pro tempore. The Chaii· will receive it. 

REP ORTS OF COMMITTEES. 

Mr. VEST, from the Committee on Public Buildings and Grounds, 

to whom was referred the bill (S. 1974) for the erection of a public 

building at Fort Worth, Tex., reported it without amendment. 

He also, from the same committee, to whom was referred the bill 

(H. R. 1805) for a public building at Greenville, S. C., reported it 

without amendment. 

He also, from the same committee, to whom was referred the bill 

(8.159) for a public building at Greenville, S. C., reported adversely 

thereon, and the bill was postponed indefinitely. 

He also, from the same committee, to whom was referred the bill 

(H. R. 5062) for the erection of a public building at Birmingham, Ala., 

reported it without amendment. . 

lllr. HARRIS, from the Committee on Epidemic Diseases, to whom 

was referred the petition of the San Diego (Cal.) Medical Society, urging that a quarantine station be established for San Diego Harbor, asked 

to be discharged from its farther consideration; which was agreed to. 

He also, from the same committee, submitted a report accompanied 

by a bill (S. 2493) to perfect the quarantine service of the United States; 

which was read twice by its title. 

He also, from the same committee, to whom were referred the bill 

(S. 665) to establish a quarantine station at the port of San Francisco 

and the bill (S. 1641) to establish a permanent quarantine station at 

or near Cape Charles, Virginia, reported adversely thereon, and the bills were postponed indefinitely. 

Mr. PLill1B, from the Committee on Public Lands, to whom was 

referred the bill (S. 1782) to authorize the leasing of the school and 

universio/ l~ds in the Territory ofWyoming1 and for other purposes, 

reported It w1th amendments. 

Mr. PLATT, from the Committee on Territories, to whom was referred the bill (S. 1619) to provide for the formation and admission 

into the Union of the State of Montana, reported adversely thereon· 

and the bill was postponed indefinitely. ' 

He also, from the same committee, submitted a report accompanied 

by a bill (S. 2512) to provide for the formation and admission into the 

Union of the State of Montana, and for other purposes· which was read twice by its title. ' 

J';1r. DOLPH, from the Committee on Public Lands to whom was 

referred the bill (S. 2003) to grant to the city of The'Dalles in the 

State of Oregon, certain lands for the purposes of a public park re- ported it with amendments. • ' 

/ Mr. PAD DOCK, from the Committee on Public Lands, to whom was 

re~e!fed the bill (S. 1 ~65) to provide for the sale of the Fort Sedgwick 

m1htary reser~at10n, m the State of Colorado and Territory of Wyoming, to actual settlers, reported it with amendments. 

Mr. SPOONER, from the Committee on Claims, to whom was re- ferred the bill (S. 2337) for the relief of MariaN. Abbey asked to be 

discharged from its farther consideration, and that it be ~ferred to the 

Committee on Pensions; which was agreed to. 

FUNERAL OF CHIEF-JUSTICE W .A.ITE. 

Mr. ALLISON. I introduce a bill and ask unanimous consent that 

it may now be put on its passage. :Cet it be read at length for information. 

The bill (S. 2494) to provide for payment of the funeral expenses of 

the late Chief-Justice of the Supreme Court was read the first time at 

length, as follows: 

Be it cnacu<l, etc., That the sum of $5,000, or so much thereof as may be necessary, be, and the same is hereby, appropriated, out o( any money in the Treasury not otherwise appropriated, to defray the expenses necessarilv incurred in the 

funeral of Morrison R. Waite, late Chief-Justice of the Supreme Court of the 

United States, to be disbursed by the marshal of the Supreme Court upon vouch- ers to be approved by the senior associate justice of said court. 

The bill was read the second time by its title, and by unanimous 

consent considered as in Committee of the Whole.:-

The bill was reported to the Senate without amendment, ordered to 

be engrossed for a third reading, read the thir.d time, and passed. 

TERRITORY OF UTAH. 

::M:r. CULLOM. On behalf of the Committee on Territ.ories I report 

back a memorial and proposed constitution for the admission of the 

Territ.ory of Utah as a State, and ask t.o be discharged from then· further consideration, and to report resolutions which were .unanimously 

adopted by the Committee on Territories, and I request that they be now considered. 

The PRESIDENT Jl'I'O tempore. The resolutions reported by the Senator from lllinois will be read. 

The Chief Clerk read as follows: 

Resol1:ed, That it is the sense of the Senat-e that new States should be admitted 

in to the Union only upon a basis of equality with the existing States. and that Con- gress ought not to exercise any supervision over the provisions of the constitution of any such new State further than is necessary to guaranty to every State 

in this Union a republican form of government. ' Resolt·ed, '!'hat the proposed constitution for the State of Utah submitted to Congress with the memorial praying for the admission of the Territory of Utah 

into the Union as a State, contains provisions which would deprive such pro- posed State, if admitted into the Union, of that equality which should exist among the different States. Resotved furtlwr, That it is the sense of the Senate that the Territory of Utah 

ought not to be admitted into the Union as a State until it is certain beyond d.oubt that the practice of plural man·iages, bigamy, or polygamy, has been en- tu·ely abandoned by the inhabitants of said Territ-ory, and until it is likewise 

certain that the civil affairs of the Territory are not controlled by the priesthood of the 1\Iormon Church. 

Ur. HOAR. Let those resolutions be printed and go over. They are very important resolutions. 

The PRESIDENT pro temp01·e. The resolutions w1lllie over under 

the rules and be printed. _ 

1\fr. BUTLER. May I inquire of the Senator from illinois if those 

resolutions are accompanied by a bill sent to the committee . 

.Mr. CULLOM. No, sir. This report has nothing to do with the 

bill introduced by the Senator from South Carolina. It simply has to 

do with the memorial and the proposed constitution from that Territory. 

Mr. BUTLER. That is what I wished to inquire about. 

The PRESIDENT pro tempore. The Chair also understood the Senator from Illinois to report back from the committee the memorial and 

draught of a constitution, and ask that the committee be discharged from 

the further consideration of the same. That order will be made unless 

there be objection. ' 

BILLS INTRODUCED. 

Mr. BUTLER introduced a bill (S. 2495) to equalize the pay of certain officerso~the Navy; which was read twice by its title1 and referred 

to the Committee on Naval Affairs. 

Mr. BERRY introduced a bill (S. 2496) granting the right of way 

over West .Mountain, in the Hot Springs reservation, in the State of Arkansas, to theW est Mountain Inclined Rail way and Improvement Comp!lny; which was read twice by its title, and referred to the Committee on Public Lands. 

Mr. COKE introduced a bill (S. 24.97) for th.e relief of Jonathan L. 

Dobbs, Daniel C. Kyle, Keith & O'Neal, James C. Lovina and the 

legal representatives of John Hittson, deceased, Alexander "'Timmons, 

deceased, Nathan Watson, deceased, and Daniel Cretsinger deceased· 

which was read twice by its title, and referred to the Co~mittee o~ Claims. 

He also introduced a bill (S. 2498) for the relief ofWil]iamR. Baker· 

which \vas 1·ead twice by its title, and referred to the Committee 0 -r{ 

Claims. 

He also introduced a bill (S. 2499) for the relief of Hiram D. Drum· 

which was read twice by its title, and referred to the Committee o~ Claims. 

.l\1r. HALEi~troduceda bill(~- 2500) .granting a pension to Gertrude 

K. L!fe:rd; whiCh was read tWice by 1ts title, and, with the accom- panyiDg papers, referred t.o the Committee on Pensions. 

Mr. PLA.~T introduced a bill (S. 2501) for the relief of William M. 

B~yant; which was read twice by its title, and referred to the Committee on Patents. 

He also introduced a bill (S. 2502) for the relief of James Caler 

which was read twice by its title, and referred to the Committee or:. Claims. 

Mr. BECK intro~uced a bill (S. 2503) to increase the pension of Mrs. ~far! L. Scott, ofLmcoln County, Kentucky; which was read twice by 

Its t1tle, and referred to the Committee on Pensions. 

Mr. DAVIS. introduced a b~ll (S. ~50 ~ granting a pension to Mary 

A.. Moran; which was ren.d tWJce by Its title, and referred to the Committee on Pensions. · 

Mr .. SHERMAN int_r~uced a bill (S. 2505) removing the charge of 

desertiOn from the military record of L. F. Decker; which was read 
2392 CON-GRESSIONAL REOORD-SENATE. MARCH 26, 

twice by its title, and, with the accompanying papers, referred to the 

Committee on Military Affairs. 

1\Ir. FRYE introduced a bill (S. 2506) for the establishment of a lighthouse, fog-signal, and day beacon in the vicinity of Goose Rocks, Fox 

Island Thoroughfare+. Maine; which was read twice by its title, and re- ferred to the Committee on Commerce. 

Mr. PLUMB introduced a bill (S. 2507) granting a pension to Joseph 

Hicks; which was read twice sy its title, and, with the accompanying 

papers, referred to the Co durn ttee on Pensions. 

Mr. TELLER introduced a bill (S. 2508) for the relief of B. F. Rockafellow; which was read twice by its title, and referred to the Committee on Post-Offices and Post-Roads. 

He also introduced a bill (S. 2509) to equalize the salaries of certain 

postmasters; which was read twice by its title, and referred to the 

Committee on Post-Offices and Post-Roads. 

He also introduced a bill (S. 2510) to amend an act entitled ".An act - authorizinO' the citizens of Colorado, Nevada, and the Territories to 

fell and re~ove timber on the public domain for mining and domestic 

purposes," approved June 3, 1878; which was read twice by its title, 

and referred to the Committee on Public Lands. 

Mr. WALTHALL introduced a bill (8. 2511) to withdraw the public 

lauds of the United States in Mississippi from sale at ordinary private 

entry, and to restrict disposals thereof under general statutes to homestead settlers; which was read twice by its title, and referred to the 

Committee on Public Lands. 

Mr. SPOONER (by request) introduced a bill (S. 2513) gmnting a pension to Charles H. Sedgwick; which was read twice by its title, and 

referred to the Committee on Pensions. 

He also introduced a bill (S. 2514) granting a pension to Michael 

Shong; which was read twice by its title, and referred to the Committee on Pensions. 

Mr. DANIEL introduced a bill (S. 2515) to provide pneumatic guncarriages for the War Department; which was read twice by its title, 

and referred to the Committee on Military Affairs. . He also introduced a bill (S. 251_6) to appropriate a sum of money 

to the Mount Vernou .Avenue .Association, us assignee of the State ot 

Virginia, and for other pmposes; which was read_ twice by its title, and 

referred to the Committee on Public Buildings and Grounds. _ He also introduced a bill (S. 2517) for the establishment of a lightship at Bush's Bluff Shoal, Elizabeth River, Virginia; which was read 

twice by its title, and referred to the Committee on Commerce. 

Ur. GEORGE (by request) introduced a bill (S. 2518) providing a remedy for the retention of officers of the Navy (not retired for age or length of service) on the retired-list after the disability for which they were placed there bas ceased; which was read twice by its title, and 

referred to the Committee on Naval .Affairs. 

AMEND:llENT TO A BILL. 

Mr. PALMER submitted an amendment intended to ba proposed by 

him to the bill (S. 1430) to forfeit certain lands heretofore granted for 

the purpose of aiding in the construction of railroads, and for other 

purposes; which was ordered to lie on the table. 

EXECUTIVE COID1UNICATION. 

The PRESIDENT pro tempore laid before the Senate a communication from the Secretary of War, transmitting, in response to a resolution of the 20th ultimo, a letter from the Chief of Engineers embodying a report of a board of engineers in regard to estimates for restoring 

quarters and buildings 9f Fort Moultrie for garrison of United States 

troops, etc.; which, with the accompanying papers, was referred to the 

Committee on Military Affairs, and ordered to be printed. 

FISHERIES NEGOTIATIONS. 

'file PRESIDENT pro tempore laid before the Senate the following 

message from the President of the United States; which was read, and, 

with the accompanying papers, referred to th~ Committee on Foreign 

Relations, and ordered to be printed: 

To the Senate: 

In response to the resolution adopted by your honorable body on the 16th in- stant, as follows: "Resolved, That the President of the United States bet·equested, if in his judgment not incompatible with the public interest, to transmit to the Senate copies of the minutes and daily protocols of the meetings of the commis- sioners who negotiated the treaty with Great Britain, submitted by the Presi- dent to the Senate on the 20th of February, 1888," I submit herewith a. report of the Secretary of State, which, I hope, will satisfactorily meet the request for information embraced in said resolution. 

EXECUTIVE :i'l'!ANSION, 

Washington, Mm·ch 22,1888. 

GROVER CLEVELAND. 

1\IESSAGE FROl\I THE HOUSE. 

A message from the Honse of Representatives, by Mr. CLARK, its 

Clerk, announced that the House bad agreed to the report of the com- mittee of conference on the disagreeing votes of the two Houses on the 

amendments of the Senate t<1 the bill {H. R. 6437) to provide forcertain of the most urgent deficiencies in the appropriations for the serv- ice of the Government for the :fiscal year ending June 30, 1888, and for 

other purposes. 

The message also returned to the Senate, in compliance with its re- quest, the following bills: 

.A bill (.S. 192) to provide that judges of the United States circuit and 

dist;ict courts shall reduce their instructions to juries to writing in 

all States wherein by the laws thereof State judges are required so to 

do; and - .A bill (S. 788) to provide for holding terms of the United States 

courts at Mississippi City. 

The messag~ further announced that. the House bad passed the following resolutions: IN THE HOUSE OF REPRESENT.A.TIVES, March 23, 1888. 

Resolved, That the House of Representatives ~as heard of th~ death of Chie[- Juslice Waite, of the Supreme Court of the Umted States, which occurred this morning at 7 o'clock, with feelings of deep and sincere sorrow. Resolt:ed, That while the nation mourns the loss of one of its most useful and illustrious sons, it is fitting that the House, representing the people, express its deepest sympathy with the family of the deceased in their affliction. Resol-r;ed, That the Honse will attend as a. body the funeral of the late Chief- Justice, and the Speaker is requested to appoint a. committee consisting of nine members to act with a committee of the Senate in tmy necessary action relating to the funeral. Resol<ted, That as an additional mark of respect to the memory of the deceased the House do now adjourn-. 

And that the Speaker bad announced the appointment ofl\Ir. KELLEY, 

of Pennsylvania; Mr. SENEY, of Ohio; Mr. GROSVENOR, of Ohio; Mr. 

BRECKINRIDGE, ofKentucky; 1\fr. CANNON, ofillinois; Mr. CARLTON, 

of Georgia; Mr. STEW ART, of Vermont; Mr. ANDERSON, of Iowa, and 

1\'Ir. RussELL, of Connecticut, as members of the committee. 

The message also announced that the House had passed the following re.solntions: 

Resol·ved, That the funeral ceremonies of the late Chief-Justice WaHe be held in the Hall of the House of Renresentatives on 'Vednesday, March 28,1888, at 12 o'clock, noon, under the arrangements of the Supreme Court, and that when the House adjourn on the 27th inst11.nt it shall be until 11.30 a. m, of March 28. Resolved, That the Clerk of this House notify the Senate and Supreme Court of the passage of these resolutions. _ 

The message' further announced that the House bad passed the following bills; in which it requested the concurrence of the Senate: 

A bill (H. R. 1874) to change the eastern and northern judicial districts of Texas, and for other purposes; 

.A bill (H. R. 4948) to amend section 988 of the Revised Statutes, 

regulating st..'l>ys on executions in courts of tho United States; 

A bill (H. R. 8180) to regulate the liens of judgments and decrees of 

the courts of t)le United States; and 

A bill (H. R. 8808) to amend an act entitled ''An act to provide for 

holding terms of United States courts at Vicksburg, Miss." 

ENROLLED BILLS SIGNED. 

The message also announced that the Speaker of the House had signed 

the following enrolled bills; and they were thereupon signed by the 

President p1'0 tempore: 

.A bill (H. R. 1611) for the erection of a public building at Springfield, Mo.; 

A bill (H. R. 4487) to enable the Secretary of the Interior to pay certain creditors of the Pottn.watomie Indians out of the funds of said Indians; and 

A bill (H. R. 5728) to amend the laws relating to navigation, and for 

other purposes. 

UNDERGROUND WIRES IN DISTRICT. 

Mr. HALE. I submit, by request, two resolutions touching an inquiry into the expediency of a revised system of underground wires in 

the District of Columbia. Everybody knows the inconvenience to 

which we were all subjected last week in getting communication with 

the different parts of the dty. These resolutions cover the subject. 

One should go to the Committee on Public Buildings and Grounds, and 

the other to the Committee on the District of Columbia. 

The PHESIDENT pro tempore. The resolutions will be read separately. 

The CbiefClerk read as follows: 

Reso~ved, That the Superintendent of Public Buildings and Grounds is-hereby directed to report to the Senate on or before Monday, the 16th day of April, 

1888, a comprehensive system of underground wire for telegraph and telephone service to connect the several Departments and bureaus of the Government in Washington City, presenting in detail the same, and an itemized estilnate of the cost. 

The PRESIDENT pro tempore. Does the Senator from Maine desire 

action on the resolutions or their reference only? The Chair nuderstood the Senator to say be desired one to be referred to tl1e Committee on Public Buildings and Grounds and the other to the Committee on the District of Columbia. 

Mr. HALE. This one should be referred to the Committe on Public 

Buildings and Grounds; but if there is no objection to the passage of 

the resolutions, I ask that they be considered now. 

The PRESIDENT pro tempore. Is there objection to the present con- sideration of the resolution? 

Mr. HARRIS. Let it be read again. The resolution was read. 

The PRESIDENT p1·o te~npore. Is there objection to the present con' 

sideration of this resolution? 

The resolution was considered by unanimous consent, and agreed to. 

The PRESIDENT pro tempore. The next t·esolution submitted by 

the Senator from Maine (Mr. HALE) will be read. 

The Chief Clerk read as follows: 

Reso~ved, That the commissioners of the District of Columbia are hereby di- rected to report to the Senate on or before Monday, the 16th day of April, 1888, a 
1888. CONGRESSIONAL RECORD-SEN ATE. 2393 

comprehensive system of underground wires for telegraph and telephone serv- ice for use of the District of Columbia, presenting in detail the same and an itemized estimate of the cost. 

The resolution was considered by unanimous consent, and agreed to. 

LAND PATENT SUITS. 

Mr. STEWART submitted the following resolution; which was considered by unanimous consent, and agreed to: 

Resolved, Tha t the Attorney-General be directed to inform the Senate : First. 'Vbat suits to vacate land patents issued by the United States have been 

commenced by the direction of the Depo.rtment of Justice, and are now pending in court, and the present st::~.tus of the same. !::)econd. What suits he has authorized to be commenced, and which have not yet been entered in court. Third. What suits he has been requested by the Department of the Interior to commence, but upon which requests final action has not yet been taken. 

Fourth. What applic.'\tions for the institution of such suits have been filed 

with him, and are pending before him, or on reference to the Interior Depart- ment. 

Fifth. Whether any special counsel h ave been employed in the conduct of 

such suits, or in any wise authorized to represent the United States therein ; and, 

if soi the names of such counsel, aud whether the expenses of any such suits in 

who e or in part are paid by any parties other than the Government. 

Sixth. To what extent does the Department of Justice determine whether 

such suits ought to be commenced, or whether they can be successfully maintained. 

CONSIDERATION OF THE FISHERIES TREATY. 

The PRESIDENT pro tempore. The Chair lays before the Senate a 

resolution coming over from a previous day, which will be read. 

The Chief Clerk read the resolution submitted by :Mr. RIDDLEJJERGER 

March 22, 1888, as follows: 

R esolved, That so much of Rules XXXVI, :XX:XVIT, and XXXVIII as pwvide 

for executive sessions be suspended during the consideration of the fisheries 

treaty when the same shall be reported to the Senate. 

' Mr. RIDDLEBERGER. I believe that is a resolution I offered. I 

ask, without making any remarks upon it, that it may be acted on. I 

have heretofore said all I care to say in the way of objection to secret 

executive sessions. I do hope it will be the pleasure of the Senate to 

pass this resolution. There are two treaties which will come up for 

consideration pretty speedily, perhaps, and I hope will be treated like 

their predecessors and shelved until next December. 

The PRESIDENT pro tempore. The question is on the resolution 

offered by the Senator from Virginia. 

Mr. SHERMAN. It seems to me that if the Committee on Foreign 

Relations have that treaty under consideration, it would be bettu no t 

to make any order of this kind at this period of the session. It may be 

that the committee itself will recommend that the debate be open, and 

public. The official r{lport has been laid on our table; it is open to the 

public. But pending the consideration of the treaty by the committee, I think this order had better remain. Let it lie on the table, and it 

may be that the committee itself will report in favor of having the debate public. At present I am not prepared to give any opinion whether 

the debate may not be public or not. Let the commi tee act on the 

question. It is simply idle for .the Senate to act on it now. It had 

bett er be put over until the committee report, and then it is perhaps 

probable that the committee may agree that the debate shall be open 

to the public. I think we ought not to commit ourselYes non-. :Mr. RIDDLEBERG ER. Mr. President, this is a resolution that does 

not go to the Committee on Foreign Relations, and each member of 

that commit tee acts here as a Senator as .contradistinguished (if that 

is understood) from his relationship to the Foreign Relations Committee. This is a resolution which if it had gone to any committee would 

have gone to the Committ ee on Rules. The Committee on Foreign 

Relations will have performed its duty, or all that is expected of it, when it considers t he treaty itself; and it has no right to consider what course of action the Senate shall pursue, whether it shall be in open or in executive session. That is a matter that I do not propose for one to 

let go to that graveyard of propositions like this. 

Mr. President, I think this is the proper time to consider a resolution of this sort. The Senator from Ohio thinks it ought to be delayed until the committee of which he is chairman shall arrive at its con- clusion on this treaty. So far as I am concerned if he will make that a condition I will agree to it, conditioned, however, that the chairman 

of that committee will not press the fisheries treaty in executive ses- sion before this resolution is acted upon in open session. I would not say that that Senator has any other than always a candid motive, but 

I have grown to believe that sometimes there is a bug under the chip. 

That fisheries treaty may come in here at any time and I can not discuss it. I am forbidden even to tell the truth about it, and the only way that it can be taken out of that executive or secret session is to 

pass a resolution during the morning hour that it shall be conside1·ed 

in open Senate. 

It does not come before us as a political proposition entirely. I do not see how yon can intelligently discuss that treaty without expresslv providing that it shall be considered in open session and that the comments 

of Senators upon it shall be laid before the public. I have not seen an American newspaper, or, I will say, a newspaper published in the United 

States, t hat has not denounced the treaty. They say about it what I 

would be forbidden to say on the Senate floor. When I referred to 

another treaty I was told by a Senator, and bad to deferentially accept 

it, that I was violating an oath as a Senator. r·am not doing it now, 

sir. I would not have accepted it in any other spirit. 1\fenmayswa:p 

well-deserved reputations for cheap notoriety. I hopei shallnotdoit. 

I am asking for the consideration of this resolutionafter"the chairman 

of the Committee on Foreign Relations has had srnce last Thursday tO 

examine it. It is a resolution, as I shall repeat, that does not properly 

go to his committee. I ask the Senate to consider it and not the Com .. 

mittee on Foreign Relations. I am_rem.inded of what was well said on this floor by a very distinguished Senator when it was proposed by the 

chairman of the Judiciary Committee to refer his bill to that committee, and the Senator from Ohio Teminded him that it was not debatable, 

and he said, "Mr. President, I do not rise to debate it. I simply 

want to bid farewell to my bill." I do not want to bid farewell to 

this resolution. Iwanttovoteforitthismorningwheuitcomesup, and no single objection can pass it over, as it can on the day of its introduction. 

I ~ain ask the Senator from Ohio to express the same view in his vo~e which he bas expressed repeatedly before, if I and others have an opportunity of expressing our view that America is big enough to take care of herself, and she does not require or need any treaty where she 

hn.s to make concessions to those who are not manly fighting her. 

l\Ir. GRAY. Mr. President--

:Mr. SHERMAN. If tho Senator from Delaware will allow me to 

make a single reply to the observation of the Senator from Virginia, I 

wish to say that I am absolutely indifferent in regard to this matter 

except that I take . it the Senate would not care to decide a question 

until it becomes important to decide it. I can not tell when the treaty 

will be reported to the Senate, and I say to the Senator from Virginia, 

and that is all I wish to say, that undoubtedly he will have ample 

notice. I "'ill see myself that he has ample notice, so that he can ask 

for a vote of the Senate on the resolution before the treaty is considered. 

As a matter of course that would naturally be the case, and I give him 

the assurance that there is no doubt about it at all. So far as the question itself is concerned, I am indifferent except I think the Senate had 

better wait until the treaty is presented here for consideration. 

Mr GRAY. I merely rose to say that I thought the suggestion ot 

the Senator from Ohio was a proper one at this time in regard to the 

resolution of the Senator from Virginia to consider the fisheries treaty 

in open session. I am not opposed to the resolution of the Senator 

from Virginia; in fact, I expect to vote for it. The President of the 

United States sent the fisheries treaty to the Senate with a request 

th:.t it b':l made public, and it has been published. The people of the 

United States are fully possessed of that treaty and know all about 

its terms aheady; but I think we should act in this matter indecency 

and in order, and when the committee which has that treaty in charge 

shall haYe reported it, after consideration of the treaty itself, there 

will be time enough then for the Senate to decide whether it will con- !;ider the ratification of the treaty in open session or not. 

So far as I understand the sentiment of the Senatora on this side of 

the Chamber who sit around me, I think, unless something in the re- port of the committee should change their minds, and I can not conceive how that cau be, they are in favor of the consideration of the 

treaty in open session. But I think the suggestion made by the Sen- ator from Ohio is an eminently proper one, and that for the present the 

1·esolution should lie on the table. I make that motion now. U r. lUDDLEBERGER. I will relieve the situation so far as I can by simply suggesting to the Senator from Delaware, and the Senator 

from Ohio, that if the Senate will consider the resolution in the morning hour, at least one day antecedent to the taking up of the fisheries 

treaty in execnth-e session, with that understanding I will let the 

matter lie over. I do not wish to have the Senate lay the resolution on the table, for it would then require a vote to take it up. 

Mr. SHERMAN. There is no objection to the course suggested by 

the Senator from Virginia. 

The PRESIDENT pro te:npore. Does the Senator from Delaware 

withdraw his motion to lay the rewlution on the table? 

1\fr. GRAY. I will withdraw the motion if the resolution is not to 

be pressed at this time. 

Mr. RIDDLEBERGER. I shall not press it any further now. 

The PRESIDENT pro tempore. The resolution lies over fo1· consideration. 

MESSAGE FROM THE HOUSE. 

A message from the Honse of Representatives, by M:r. CLARK, its 

Clerk, announced that the House had passed the bill (S. 2494) to provide for pa.ymen t of the funeral expenses of the late Chief-Justice. of 

the Supreme Court. 

PURCHASE OF BONDS. 

Mr. MORRILL. I move that the Senate proceed to the eonsideration of the bill (H. R. 5034) to provide for the purchase of United States 

bonds by the Secretary of the Treasury. 

The PRESIDENT p1·o tempore. The bill will be read at length for 

information. 

The Secretary read the bill, as follows: 

Be it enacted, etc., That the Secretary of the Treasury is her~by authorized to apply the surplus money now in the Treasury, and such surplus money as may hereafter be in the Treasury, and not otherwise appropriated, or so much thereof' as he may consider proper, to the purchase or redemption of United States 
2394 ' UONGRESSIONAL RECORD-SENATE. MARon 26,· 

bonds: Prot--ided, That the bonds so purchased or 1·edeemed shall constitute no part of the sinking fund but shall be- cn.nceled by the Secretary of the Treas- ury. 

The PRESIDENT pro -tempore. The Senator from Vermont moves 

that the Senate now proceed to the consideration of the bill. 

The motion was agreed to; and the Senate, as in Committee of the 

Whole, proceeded to consider the bill. 

:M:r. MORRILL. I ask to have the report read, which will explain 

the bill as briefly as it can be done. 

The PRESIDENT pro temp01·e. The report will be read. 

The Secretary read the following report, submitted by Mr. MORRILL 

March 6, 1888: 

The Committee on Finance, to whom was referred the bill (H. R. 5034) to pi·o- vide for the pm:chase of United States bonds by the Secretary of the Treasury, 

1·espeetfully report: The committee unanimously believe no additional legislation is required to give the Secretary of the Treasury full and ample power to apply at any time 

the surplus money in the Treasury not otherwise appropriated, or so &.uch 

thereof as he may consider proper, to the purchase or redemption of United 

States bonds. Section 2 of the act of March 3, 1881, nearly identical in phrase- ology, was reported by 1\Ir. Bayard, chairman of the Committee on Fil1ance, 

and inserted as an independent section of law with the approval of the Committee on Appropriations, and still stands unrepealed and with all of its original force on the statutes. As the President has, however, expressed his belief that the law "is subject to the suspicion that it \vas intended as temporary and limited in its application, instead of conferring a continuing discretion and authority," it is likely that the Secretary of the Treasury may not feel at full liberty to exercise the 

power to purchase .United States bonds as the public interest may seem to ~·equire. The comnuttee, therefore, recommend the passage of the House b1ll, 

with some an1endm.ents designed to free the matter from all doubt. 

The PRESIDENT p1·o tempore. The bill was reported from the Committee on Finance with amendments which will be stated in their 

order. 

The :first amendment of the Committee on Finance was, in line 4, 

after the word " apply," to insert the words " from time to time;" so 

as to read: 

The Secretary of the Treasury is hereby authorized to apply from time to time 

the surplus money now in the Treasury, and such surplus money as may hereafter be in the Treasury. 

The amendment wa-s agreed to. 

The next amendment was, in line 6, after the word "Treasury," to 

insert the words "not held for specific purposes;" so as to read: 

And such surplus money as hereafter may be in the Treasury, not held for 

specific purposes, and not otherwise appropriated, or so much thereof as he may 

consider proper, to the purchase or redemption of United States bonds. 

The amendment was agreed to. 

1\Ir. PLUM:B. Is it in order now to move an amendment? 

The PRESIDENT pr·o tempore. The bill is open to amendment, the 

amendments of the committee having been acted upon. 

:Mr. PLUMB. I move to add as a separate section what I send to the 

desk. 

:Mr. STEW ART. I wish to offer an amendment. 

The PRESIDENT pro tempore. The Senator from Kansas has been 

recognized, and offers an amendment, which will be read. 

The SECRETARY. It is proposed to add as an additional section the 

following: 

SEc. 2. That whenever the circulation of any national bank, or any portion 

thereof, shall be surrendered, and the same is not taken up by other national 

banks within thirty days thereafter, the Secretary of the Treasm·y shall thereupon issue an equivalent amount of Treasury notes of the denominations now provided by law for national-bank notes. Said Treasury notes shall be deposited in the Treasury and paid out as other moneys kept for the discharge ot the obligations of the Government. They shall be receivable for salaries and 

for all dues to the Government,including duties on imports; shall be a legal tender for all debts, public and private; shall be redeemable in coin, as the 

legal-tender notes of the United States now are; and when received into the 

Treasur..,. they shall be reiBsued, and when mutilated or worn they shall be re- placed, ir. the same manner as now provided by law for said legal-tender notes. The coin held in the Treasury at the date of the passage of this act for the re- demption of the legal-tender notes of the Government shall also be applicable to the redemption of the Treasury notes herein provided for; and such coin re- serve may, from time to time, be increased by adding thereto other sums from 

payments made into the Treasury, in the discretion of the Se01·etary of the Treas- ury: Pr01:ided, That the total amount of said coin reserve shall never be lesa 

than 25 per cent. nor more thau 30per cent. of the total amount of legal-tender and Treasury notes outstanding. The true intent and meaning of this section 

being that the volume of paper money outstanding (exclusive of gold and silver 

certificates) shall remain as now existing. 

The PRESIDENT p1·o tempore. The question is on the amendment 

proposed by the Senator from Kansas [Mr. PLUMB]. 

Mr. MORRILL. ~Ir. President, I hope that the amendment--

Mr. BECK. Will the Senator from Vermont allow me to make a 

suggestion before he goes on? I offered an amendment to the bill, in 

reference to the sinking fund, which was noted and regarded as pending. I rose about the time the Senator from Kansas offered his amend· 

ment to say that knowing this to be a mea.snre which came from the 

other Honse, perhaps to remove a doubt, I proposed to withdraw my 

amendment, because this measure ought to stand by itself, and the 

question I sought to consider and the questions which the Senator from 

Kansas and others seek to consider should be placed upon other bills. 

Bnt as this amendment has been thrown in I may as well let my amendment remain for a little while, and then I can withdraw it. 

Mr. PLUMB. In view of th& statement of the Senator from Kentucky, if he desires to offer his amendment, I will withdraw mine until he hns had a chan~e to present his. 

r 

Mr. BECK. No, I will let ib go for the time-being. 

Mr. STEW ART. I have an amendment to offer. 

1\Ir. MORRILL. The amendment of the Senator from Kansas is entirely alien to the topic thn,t is considered by t~e House bill. There is 

supposed to be an urgent necessity for the passage of the Honse bill 

with the amendments which have been made by the Committee on Finance, and agreed to by the Senate this morning. I trust that the 

Senator from Kansas will not press his amendment, which, if it was to 

be seriously discussed and considered, is one that would be likely to 

require a week or ten days of time for its consideration. I am sure that 

there is no present necessity for any action in the direction proposed by 

the Senator from Kansas. In order that we may get the bill through 

without taking much time this morning fl'om the consideration of the 

Calendar, I hope that all amendments which have been propo¥ed will 

be withdrawn and the bill allowed to pass. · Mr. PLU:M:B. Different people ha'\"'e different ways of manifesting 

haste. The bill under consideration has been on the Calendar just 

twenty days to-day. If there had been any great hurry about its passage, any very great emergency, I imagine the Finance Committee · 

would have urged its passage long ago. It is not going to ta.ke ten 

days to dispose of this amendment, although it bad better take thirty 

days than not have it or some such proposition adopted. It is entirely 

germane to the subject of the bill, just as germane as the punctuation 

that is in it. 

This bill is for the purpose of relieving the Treasury from its surplus 

funds and adding to the circulation of the country, the last object being 

the main one I take it. The country to-day is in distress for lack of 

mone:};, which the Treasury has locked up; and this is an effort on the 

part of Congress to induce the Secretary of the Treasury to do what he 

has heretofore refused to do, and that is to pay out the public money 

in discharge of the public debt. 

Bnt, Mr. President, this will only accomplish a partial purpose. No 

one can tell how many bonds will be bought under the authority of the 

hill if the Secretary shall choose to act under H, as be has heretofore refused to act under similar authority now on the statute-book. No one 

can tell how much it will add to the volume of money outstanding, bocause nobody can tell how many of the bonds will come from national 

banks now holding them as a basis for circulation. All the money that 

there is in the Treasmyof the United States, I suppose, is in the neighborhood of $100,000,000, according to the Tieasuryview of it, which ca,u 

be paid ont in discharge of the public debt under the terms of the bill 

which is now pending. I think there is $160,000,000 there available 

for some such purpose beyond any reserve required by law or by the 

practice of the Department to be kept. But sn ppose there be only SlOO,-

000,000, and suppose the Secretary of the TreasLuy buys $100,000,000 

of outstanding bonds of the United States with that money, it must be 

$100,000,000 of course minus the premium, or plus, as youmayusethe 

term. That is to say, if he buys 4 per cent. bonds at the market price 

to-day he would be able to take up the principal of only about $80,000,-

000 of bonds. If those bonds should be offered for sale-by banks holding them already as a basis for their currency, there would only be 10 

per cent. of that amount added to the volume of the currency outstanding, notwithstanding the disbursement by the Treasury of $100,000,000. 

The gA>in therefore would be fractional and imperceptible, and the purpose which I suppose the Finance Committee ha-s in view would be lost. 

If one-haif the bonds shonld be tendered by national bauks, and onehalf by outside parties, of co'l.lrse the gain to the outstanding circulation 

would be greater. While the bill itself is proper, at the same time as it stands, and by itself, it is trifling with a very great question. 

For years the national-bank ci.J:culation and so. the volume of money 

outstanding in .the United Sta.tes has been declining. The population 

bas increased, business has increased, but the currency with ·which that 

business is to be transacted has diminished each year dnring the last 

five years; and yet the Finance Committee of the Senate and the similar committee in the other Honse, and all those whose special privilege 

it has heretofore seemed to be to take care of these questions have proposed nothing whatever-not one single measure for the purpose of 

keeping up the volume of the currency and nothing to increase it in accordance with the increasing needs of business. Here is a proposition 

which is pnt forth as something which is to relieve the ex:isting stringency, which is to diminish the surplus in the Treasury, which is to add 

to the volume of the circnla.ting medium, of which it can not be said 

with k-nowledge that it will perform one single thing of that which it 

is assumed on its face it will do. 

:Mr. President, I should like to know from the chairman of that committee what the committee propose as a substitute for the nationalbank circulation, which has shrunk during the last year over $30,00:>,-

000, and which, in all human probability, during the comillg year will 

shrink more than $30,000,000 more, and which under the operation of 

this bill will probab~ shrink at least $50,000,000. Does that com- mittee have in view any remedy for this extraordinary state of affairs? 

Mr. MORRILL. I will say to the Senator that we have several bills 

in the committee which have been considered, but not yet fully completed, and we propose to report upon them at the earliest practicable 

day. 

l!ir. PLUMB. Ent this contraction of the currency, by means of 
1888. CONGRESSIONAL RECORD-SENATE. 2395 

the retirement of national-bank circulation, has been going on for more than ten years, and all the committee has to say now is that it only con- sideTed some bill, but it is not yet completed. If the committee will not 

complete some measure, t4e Senate must. If the Senate will not and 

if the other House will not, then the country is going npon the breakern 

of financial disturbance. As a Senator says in my hearing, it is there now. I think it is there now. We are dealing with a question which 

has more to do with the welfare of the people of the United States, 

which is of more concern to them than any other thing that is pendJng in either House of Congress, or which can be pending-the volume 

of the circn1ating medium of the country, the value of its property, the 

difference between debt and bankruptcy, on the one hand, and freedom 

from debt4Qnd prosperity on the.other. 

It is estimated that there are in circulation, including that which is 

locked up in the Treasury and held in banks as a reserve fund, about 

sixteen hundred million dollars of all kinds of cunency of the United 

States, gold and silver, the overplus of gold and silver certificates, greenback notes, and national-bank notes, all told, and there are more than 

$60,000,000,000 of property which must finally be measured by this 

volume of currency. It has been contracted during the last year more than 5 per cent. in addition to all that has occurred by reason of abrasion and loss. No man can tell the volume of greenbacks outstanding. 

Nominally it is $346,000,000 and a fraction, but that volume has been 

subject to all the accidents which have occurred during the past twentyfive yearn, whereby money bas been consumed, worn out, lost, and it 

is doubtful if the amount is really over $300,000,000 to-day. 

But saying nothing about that, the retirement of the national banking 

circulation during the past twelve months bas been 5 per cent. of the 

total amount of currency outstanding. There ba.c; been during that 

period a phenomenal depreciation of the prices of property. There bas 

been the greatest depreciation of the price of agricultural products the 

country bas ever known. And yet the Finance Committee has simply 

incubated something that may ripen after a time, and it may not. I do 

not speak of this for the purpose of reflecting on the committee, but for 

the purpose of expressing in a feeble way my view of the gravity of the 

situation which Congress has yet done nothing to rueet. 

The cont.raction of the currency dming the last three years bas been 

5 per cent. of its "'f"olume. This means the depreciation of the property 

of the country $3,000,000,000. Debts have not only increased but the 

means to pay them have diminished in proportion as.the cuiTency has 

been contracted. Events based upon non-legislation have proved of 

advantage to lenders but disastrous to boiTowers. 

The proposition which I have made here is simply that we shall do 

with reference to the volume of the national banking circulation substantially what we did in regard to the volume of the greenback circulation. We arrested the policy of the Treasury whereby the greenback 

circulation was being diminished, and we said that after the date of the 

law w hicb we passed in 1878, known as the Fort bill-that from and after 

that date the volume of currency should remain exactly as it was then; 

that whatever dollars of greenbacks the Treasury took in it should pay 

out, and not dest1·oy as it bad been doing. 

In 1884 I moved this amendment in substance to a then pending measure reported by the Finance Committee, providing that whatever 

the volume of paper money then was it should be maintained at, by 

giving to the Secretary of the Treasury authority to issue greenbacks to 

take up, to fill the void then impending, and which we have since seen wonld have met the subsidence of the national banking circulation. 

That amendment received 11 votes in this body. Since that time the 

national banking circulation has gone off more than $60,000,000. If 

such a.n amendment as this had been adopted at that time the paper 

money in circulation in the United States would now be $60,000,000 

greater thl;ln it is, and a Jarge portion of the shrinkage in the value of 

the property of this country, of the paralysis which rests upon its business, would have been obviated, as I believe. 

It is late to propose it again, perhaps, but better late than never, 

and I propose it in view of the fact, as stated by the chairman of the 

committee, that nothing of this kind is practically pending in that 

committee, and that committee bas no design whatever to propose any measure which shall arrest this contraction of the currency and let the 

country go on and on with increasingneeds and yet with a diminished 

quantity of money for the transaction of business until the wornt shall come to the wornt. And that hour may not be long delayed, :Mr. 

President. It may arrive at any time. We have deluded oUTSelves 

with the belief that because we have bad an abundance of currency 

in the banks of New York there was an abundance of money everywhere, which is an entirely misleading state of fact. The abundance 

of money inN ew York 1 estifies to nothi.J;tg except the subsidence of stock 

speculation. There is a great shrinkage in the West. In all the producing regions of the country there is great lack of the money necessary to carry on business, and we have a right to look to the Finance 

Committee of this body to propose some measure which shall relieve 

this condition of things. 

The measure which I propose does not add to the volume of the cur- l'ency, as it ought to do. It is a conservative measure. It simply provides that whatever that volume is to-day as it relates to the paper 

money ~t shall be maintained; it shall not be diminished. It is applying the same thing in practice, although different in form, that we applied in 1878 to the greenback notes. We ought at least to do that 

much. 

If those who guide thefinancesofthecountry, if those who by reason of their familiarity with them and their prominent relation to the subject heretofore, are prepared to offer nothing now of an affirmative character calculated to give back to the country the currency of which it 

has peen deprived, they ought at least to be willing to say that where 

this contraction is now it shall stop; that is, it shall go no further. 

The Senator from Delaware [:M:r. SAULSBURY] the other day spoke 

with gr~"tt feeling about the mortgaging of farms in this country. So 

far as that complaint relates to a general condition, to the lack and to 

the shortcomings of legislation, it is more nearly related to the diminished volume of currency than to any other one thing. 

For my part I do not care to rest any longer under the responsibility 

of this condition. I at least shall "in season and out of season" and on every proper bill move amendments of this character until Congress 

does something better, I hope, than I propose, but at least something 

which if it does not provide for the expanding commerce and the increasing population of the country will at least accommodate itself to 

the condition of things now existing, so that the currency shall not be 

further diminished until some proposition which shall meet with the 

consent of Congress and of the President shall be adopted to dispose of 

this question for all time to come. Mr. MORRILL. If the Senator from Kansas bad noticed what was on the Calendar, he would have discovered that already there are two 

bills which have been reported, one by the Senator from Ohio [Ur. SHER~lAN], and another, Order of Business 736, by the Senator :from 

Rhode Island [Mr. ALDRICH]. 

But without discussing at this time the mexits of the proposition 

introduced by the Senator from Kansas-and I do not know whether 

I have any hostility to it or not-it does eem to me that it is more important that we shall act upon the measme that comes to ns from 

the Honse of Representatives than to encumber it and embarrass it 

with various amendments. I therefore move to lay the amendment of 

the Senator from Kansas on the table. 

The PRESIDENT p~·o tempore. The Senator from Vermont moves to lay the amendment on the table. 

Mr. FARWELL. I should like to bear the amendment 1·ead. 

The PRESIDENT pro tempore. The amendment will be again read 

if there be no objection. , 

The Secretary read the amendment-submitted by Mr. PLUMB. 

The PRESIDENT pi'O tempm·e. The question is on the motion of the 

Senator from Vermont [Ur. MORRU.Lj. . 

Mr. BECK and Mr. FARWELL addressed the Chair. 

The PRESIDENT pro tempo1'e. The motion is not debatable. 

Mr. BECK. I know it is not. I only desire to ask the Senator from 

Vermont to withdraw the motion a moment until I can make some ex- planation, and then I will renew it for him. 

Mr. FARWELL. I wish to say a word. 

Mr. MORRILL. I do not desire to interfere with debate. My only 

anxiety is to have the bill acted on; but if the Senator from Kentucky 

and the Senator from Illinois desire to be heard, I withdraw the mo- tion to lay the amendment on the table. 

1r1r. FARWELL. I desire to make an observation or two. 

The PRESIDENT pro tempm·e. The Chair recognized the Senator 

from Kentucky [Mr. BECK]. 

Mr. BECK. I had offered what I thongbtwas animportantamendment bearing upon the questions involved in this bill, quite as important, in my opinion, as the amendment proposed by the Senator from 

Kansas, and perhaps there are others quite as important as either that 

other Senators may present; but this is a bill that has beeii passed by 

the other House, the single purpose of which is to remove a doubt ex- pressed in the President's message in regard to the rjgbt to buy bonds 

under, existing law. I have no doubt about the right to purchase 

them under the present law myself. The second section of the act of 

1881 reads thus: 

SEc. 2: That the Secretary of the ~reasury m~y at any time apply the surplus money rn the Treasury not otherwise appropriated, or so much thereof as he may consider proper, to the purchase or redemption of United States bonds: 

Pr()'l)ided, That the bonds so purchased or redeemed shall constitute no part of 

the sinking fund, bnt shall be canceled. 

I have always thought, and believe now, that under that provjsion 

the Secretary of the Treasury has all the authority that the pendinO' 

bill gives him; yet I desire to remove all possible doubt. The Presi~ dent says in his message: 

Heretofore the redemption of 3 per cent. bonds, which were payable at the 

option of the Government, has afforded -a means for the disbm-sement of the excess of our revenues; but these bonds have all been retired, and there are no bonds outstanding the payment of which we have the right to insist upon. The 

contribution t-o the sinking fund, which furnishes the occasion for expenditure 

~h;~ee!':{~~~fe~~~~h~:dt~ct7~~~ already made for the current year, so that 

In the present state oflegislation the only preten-se of any existing executive power ta restore, at this time, any part of our surplus revenues to the people by 

its expenditure, consists in the supposition that the Secret-ary of the Treasm-y may enter the market and purchase the bonds of the Government not yet due, at a rate of premium to be agreed upon. The o~y provisionoflawfrom which 

.' 
2396 CONGRESSIONAL REQORD-SENATR. MARon 26, 

such a power could be derived is found in an appropriation bill passed a num- ber of years agoTo wit, the section I have just readand it is subject to the suspicion that it wa.s intended as temporary and limited 

in its application, instead of conferring a. continuing discretion and authority. No condition ought to exist which would justify the grant of power to a. single 

official, upon his judgment of its necessity, tQ withhold from or release to the 

business of the people, in an unusual manner, money held in the Treasury, and 

thus affect, at his will, the financial situation of the country; and if it is deemed 

wise to lodge in the Secretary of the Treasury the authority in the present 

juncture to purchase bonds, it should be plainly vested, and provided as fo.r as possible with such checks and limitations as will define this official's right and 

discretion, and at the same time relieve him from undue responsibility. 

In considering the question of purchasing bonds as a. means of restoring to circulation the surplus money accumulating in the Treasury it should be borne 

in mind that premiums must of course be paid upon such purchase, that there may be a large part of these bonds held as investments which can not be pur- chased at any price, and that combinations among holders who are willing to sell may unreasonably enhance the cost of such bonds to the Government. 

I do not entertain the doubt which the Secretary or the President 

thinks may exist, but I know some good lawyers who entertain the same view as the President. I believe that this bill ought to be passed 

promptly unencumbered by any amendments. My amendment was 

offered in committee, and has been printed. It proposes to repeal the 

laws requiring the further maintenance of a sinking fund, which Iregard as no longer useful. In fact the sinking-fund provision now is 

simply adding by law $50, 000,000 a year to the taxation we are obliged 

to provide for when there is no possibility of taking up any bonds with 

the money thus collected without paying any premium the bondholders 

may see fit to ask. 

We have surplus enough on hand now to pay all the bonds that ma- ture in 1891. There are only $230,000,000 of them left. We can not 

pay any of the fours till 1907; yet we are required by law, under the 

construction given to the sinking-fund provision, to provide $50,000, 000 

annually more than we need for the legitimate expenditures of the Gov- ernment. That simply allows the bondholders to exact any premium on their bonds that they see fit to demand. I can show by official documents we have aJ.ready bought and paid for and retired and sunk in 

the sinking fund, or in some other way, so that our debt is reduced over 

$700,000,000 more than anybody pretends that the sinking-fund law 

requires, or under any possible construction of it ever required ns to 

pay or sink. 

But I told the chairman that I would withdraw that amendment, 

just as I hope the Senator from Kansas will withdraw his amendment, 

regardless of their merits. I hope other gentlemen who may desire 

to present otbera will withhol them, so as to allow this bill as it came from the House of Representatives to pass and become a law. 

We can each present our propositions when other questions come up. 

Let this much be done and settled, and then the Secretary, a~ well as the President, will have the doubt removed as to the right to buy 

bonds. 

I do not want a proposition about which we all agree tied up between 

the two Houses because of a long conflict of opinion about other matters, which may so complicate things that the bill will not pass at all. 

While we are wrangling some emergency may arise and the Secretary 

will be tied up by his construction of the law and thus be unable to 

buy bonds at all. 

Howe>er, I hope he will regard the action of the House and of the Fi- nance Committee of the Senate, coupled with the general expression 

here, as authorizing him to accept our construction of the act of 1881, 

even if he bas some doubt about it. 

There are $230,000,000 of ~ per cent. bonds that he can purchase perhaps at 6 or 8 per cent. premium. The interest at ~ per cent. for two 

years would more than pay the premium. The money is lying idle now; 

the soone~ they are bought and the interest stopped the better. The 

1891 bonds are so near maturity that they certainly can be bought at 

a premium less than the interest saved by the purchase, as the idle 

money is bringing in nothing. Besides, I desire to say to the Senator 

from Kansas that there is a bill reported by the Senator from Ohio 

[Mr. SHERMAN] which is in the direction which his amendment looks. 

I think I should be very much inclined on that bill to favor what he 

sugge ts. I agree that this is one of the most important questions we have to deal with, and I further agree that the contraction of the national-bank circulation is alarming; but, as I said, there is a bill now on the Senate Calendar reported by the Senator from Ohio from the 

Finance Committee, the purpose of which is to relieve t.he contraction 

by purchasing bonds with the legal-tender notes that are now held as 

security for the national-bank circulation, which is left unprotected by 

bonds, as required bylaw. Tlierewasabout$102,000,000 six weeks ago, 

I think about $98,000,000 now, of greenbacks held for that purpose. 

The Finance Committee thought that 80 per cent. of that fund can be 

used in the purcha,ge of bonds, and that the interest saved will indemnify us against any possible reduction in premium if we have to sell them 

again. 

A majority of the committee think we can afford to pay even more than 

they are worth, and the saving in interest between now and the time 

the national-banknotes come in would be a good investment for the conntry, and releases perhaps seventy-five or eighty millions of greenbacks 

now locked up for the J?ayinent of the unprotected notes issued by the 

banks, as the bonds on which the original issue was made have been paid. 

Again, the Senator from Rhode Island [Mr. ALDRICH] has reported a proposition which has been up time and again to reduce the intexest on the outstanding 4 per cent. bonds to 2! per cent. That will bring 

up questions which I desire to discuss as well as the question which 

the Senator from Kansas desires to have acted on now. By passing 

this bill in its present form we can put ourselves in shape to guard 

against any possible contingency that might arise from the failure of 

the passage of this bill, and we shall then be prepared to discuss other 

questions when we are not embarrassed as we are now, in rega,rcl to a bill which we all think is right as it now stands. _ 

While I have been a friend of the greenback always, perhaps more than most people, my own idea is that the basis of our circnl~ion ought 

to be gold and silver coin, supplemented by existing legal-tender note3. 

I believe coin certificates, which I have contended tor time and again, 

based on either gold or silver coin deposited in the Treasury and re- deemable at the option of the Government in ci ther coin, so as to eg nalize both, would be the best basis. 

As the national-bank circulation goes down I would issue coin certificates on all surplus not held as a special fund. There are now 187 -

000,000 of silver certificates outst.anding and everybody is satisfied with 

them; they constitute the grea.t bulk of our currency as the nationalbank circulation is being contracted and is growing rapidly less every 

day as bonds are called in and paid off or purchased. Of course, as the 

premium rises, the banks will sell their bonds in order to secure the 

premium; therefore a system must be devised promptly to guard against 

that obvious contraction. The Comptroller of the Currency, a thoroughly weli-informed gentleman, writes to 'the Rand-McNally Bankers' 

Monthly, a bankers' magazine, for the present month, an able article, 

in which he uses this language, speaking of the national-bank circulation: 

But it is important to keep in mind, 

Says the Comptroller of the CurrencyBut it is important to keep in mind that our national-bank notes are, stl'ictly speaking, not IJank circulation; they are Government currency, maintained in a cumbersome manner a.t unnecessary expense, and no longer of any advantage to the Go>ernment, the people, or the banks. Moreover, the bonds on which 

they are based are approaching maturity, and are growing scarcer and dearer, so that the extinguishment of this currency is now obviously only a question of 

time, and of not a yery long time. 

That is a frank confession of the folly of longer relying on the na- tional banks to fumi'3h the people with needed circulation. It is agreed, 

I believe, by all the lawyers of the country that the only es ential 

function the national banks possess is that which enables them to keep 

national-bank notes iu drcnlation. Every other function belongs to 

every State ba.nk as well as to them. They can operate just as well under 

State charters in every regard except in circulating notes of their own. Their circulation has decreased $160,000,000 in the last four years, and 

is decreasing every day; every act done which appreciates their bonds 

induces them to sell them and contract their currency until, as the 

Comptroller says, the extinguishment of this currency is now obviously 

only a question of a very short time. 

The right to issue circulating notes is really the only function fo1 

which Congress cha1tered or could charter them, and as that fails some substitute must be found for the system. But notwithstanding, I re- gard the amendment I proposed as important, and I 'think I could show 

that it ought to be adopted. Perhaps the amendment of the Senator 

from Kansas ought, and so in regard to any other amendment that may 

be offered to this bill, but they would bring about a long discu ion in 

this body; and the amended.bill would have to go to the House of Representatives and there produce discussion and delay tor a long time. 

Therefore I think good policy requires that we should pass this bill as it came from the Senate Committee on Finance xegardless of how good 

the amendments may be. 

I desire before I cast my vote to say that it is not because of any opposition to the amendment of the Senator from Kansas, and not because 

I do not believe he has offered a measure well worthy of consideration, 

and not because I do not believe in any other amendment that may be 

offered that I will vote to lay them on the table, but I believe this much 

ought to be done now in order to remo>e the doubt the President and 

the Secretary of the Treasury have as to their power to buy bonds. Let us pass this bil1, and then the other questions can come up, as necessal·ily they will, on bills now on the Calendar. 

I have introduced a bill which I hope to have discussed where it can be considered, in regard to coin certificates; and I think the question 

arises on that bill as well as on the bill of the Senator from Ohio or 

the bill of the Senator from Rhode Island. On those bills e>ery one 

of these questions can be as well considered, and we shall be much 

safer after the President and the Secretary of the Treasury arc relieYed 

of their doubt about purchasing bonds under the authority which this 

bill will make clear. It was to enable me to make this explanation 

that I desired the Senator from Vermont to withdraw his motion to 

lay the amendment on the table till I could make a statement as to 

why I shall vote to lay all amendments on the table, my own ancl 

all others. I would rather not lay them on the table, but I feel constrained to do so. If they are not laid on the table I may vote for 

them, because all the questions will be opened up by the Senate. 
1888. CONGRESSIONAL RECORD-SENATE. , 2397 

Mr. REAGAN. Will the Senator from Vermont allow me a word? of the national-bank notes, receivable for all taxes and public dues and 

:Mr. MORRILL. The Senator from illinois [Mr. FARWELL] desired redeemable in coin at the will of the holder. I desire to make that exto make a statement and I withdraw the motion far enough to allow planation because I do not wish to do anything that would favor the 

him to be heard. ideaoflegal-tenderpapermoney. !shall voteagainstlayingtheamendMr. FARWELL. Mr. President, I hope that no amendment will be ment offered by the Senator from Kansas on the table, because I think 

made to this bill. The only one that I could suggest, if I made any, there is nothing that it is more important to preserve and perpetuate 

would be to require that its provisions should be mandatory and not the prosperity of the country than to maintain the volume of the curdiscretionary. I"ency. · It wa.s stated as well by the Senator from Kentucky as by the 

The amount of money in the hands of the Treasurer to-day under Senator from Kansas that the redemption of the bonds will necessarily 

control could wen be applied in my judgment to the redemption of reduce the volume of currency. We have seen already the effect of a 

bonds. The rate of interest on money is increased because of the large somewhat reduced currency. If we are to carry that reduction beyond 

amount held in the Treasury under the existing law and thus resei"ved what has already occurred we are to cripple the industries of the connfrom the use of the people. In my judgment very wisely the surplus try, to reduce the value of all property and the value of labor, and I 

bas been partially applied to the redemption of Government bonds, hold that it is more important to protect the country against this misthus adding to the circulating medium. After this had been done by fortune than to be delayed a few days or a few weeks in the passage of 

the Secretary of the Treasury, I think very unwisely a question arose this bill. 

as to the authority under which be bad done it. This bill is to solve The amendment, it seems to me, is mainly right; it is appropriate 

that doubt and make the power unquestionable. upon this bill; it preserves the best interests of the country by preventThe next thing the Secretary did was also in my judgment very wise, ing a contraction of the volume of currency, and I shall be glad if the 

namely, todepositin the national banks$50,000,000sothatthatmoney motion to lay on the table shall be voted down and the amendment 

could be loaned to the business people of the country. adopted. 

I say that this ·bill ought not to be amended except to make it man- Mr. HARRIS. Mr. President, I shall be constrained, wit.hout regard 

datory. The fact that be has so many millions of dollars in the Treas- to the merits of the amendment of the Senator from Kansas, to vote to 

ury is a threat to the business of the country which in my judgment lay it on the table, or any other amendment, however meritorious it 

is very dangerous and Tery alarming. I care not what political party may be, because I think this bill ought to pass, and pass promptly, and 

be belongs to, no Secretary of the Treasury should ever hold such power paes a.s it came from the House of Representatives. 

in his hands. BUREAU OF ANIMAL INDUSTRY. There seems to be a feeling of hostility to national banks. It is only 

necessary to look at our condition for a moment to realize of what The PRESIDENT pro tempore. The hour of2 o'clock having arrived, 

benefit they have been to the country. Before the war the currency the Chair lays before the Sena.te the special order, being the bill (S. 

was furnished largely by State banks. When the war came, the Sec- 2083) to provide for the establishment of a Bureau of Animal Industry, 

retary of the Treasury needing money, asked authority to issue green- and to facilitate the exportation of live-stock and their products, to exbacks. Congress gave it, established the national bank system and tirpateconta.giouspleuro-pneumoniaandotherdiseasesamongdomestic 

legislated the State banks out of existence for the purpose of getting a animals, and for other purposes. 

market for the bonds. Those bonds were taken by the national banks and Mr. MORRILL. I ask that the bill be temporarily laid aside until 

the circulating medium was b::tsed thereon. That system bas worked we conclude the bill we have bad under coQSideration. 

to the satisfaction of everybody in the United States. Sometimes it is Mr. PLATT. If we can have a vote on the bill of the Senator from 

called a money monopoly. The speech --of the Senator from Colorado Vermont, I shall not object; but if there is to be further discussion I 

[Mr. TELLER] a few days ago showed the Senate that the stock of those j shall object. 

banks is mainly held by small investors, more than half held by peo- Mr. PLUMB. I think that bill ha-d better go over until to-mor-row. 

pie having less than $5,000 interest. So the hue and cry about the Mr. REAGAN. IbopetheSenatorfromMichigan willallowhisbill 

money power is simply a mistake. The banking capital is the accumu- to go over for a day or two in order to allow further examination of it. 

lation of small sums of money in the form of the stock of the national The PRESIDENT pro tempore. The Senator from Vermont asks 

banks. unanimous consent that the special order be informally laid aside. Is 

The enhanced premium on the bonds which has accrued for some there objection? 

timepasthasmadeitnecessarythatbankdirectorsandmanagersshould, Mr. PALMER. I object. 

in taking care of small holders, dispose of their bonds. As a matter of Mr. MORRILL. Then I move to lay aside tLe special order for the 

course, the profits decrease as the period of payment of the bonds ap- purpose of proceeding with the bill which has been under consideration 

proacbes. That condition of things having taken effect, the bank di- this morning. · 

rectors have retired within the last six years over $200,000,000 of The PRESIDENT pro tempo1·e. That motion can not be entertained 

bonds, and since 1882 over $200,000,000 circulation of banks ha.s been by the Chair. A motion to postpone to a day certain or to postpone inwithdrawn, so that to-day there are outstanding only about $160,000,- definitely can be made. 

000 of national-bank notes secured by a deposit of bonds. That pro- Mr. HARRIS. I move a postponement until to-morrow. That will 

cess will go on until tbey are all retired. reach the object of the Senator from Vermont. 

I was foolish enough, perhaps, to introduce a bill providing a rem- The PRESIDENT pro temp01·e. It is moved that the consideration 

edy for this state of things. I bad the bill referred to the Finance Com- of the special order be postponed until to-morrow at 2 o'clock. 

mit tee, and have since modified it, so that I think it will apply not only Ur. PALMER. Out of deference to the Senator fTom Texas I shall 

for to-day but next year and for all time to come. I provide in the make no objection to that postponement. 

modified bill that any existing national bank, or any new national Mr. PLATT. I object to it. 

bank may go to the Treasury and buy bonds, paying currency for them, Mr. PALMER. The Senator from Connecticut objects. Under these 

and that those bonds may be the basis for circulation. I then direct, circumstances I shall feel compelled to object. I should like to defer 

in another section of the bill, that the Secretary of the 11:easury at the to the Senator from Texas on this question; but as there are a great nomend of each month shall invest every_dollar of the surplus in the pur- ber of parties in the city waiting for action on this bilJ, and as the connchase of bonds. If no reduction in the revenue takes place, within a try is urgent for it, and as it is essential that some action should be 

very few years the national debt will be paid off. Having that in view, taken soon for the great cattle industry of the country, I shall object 

I provide in this bill that the national banks shall furnish other seen- to its postponement until to-morrow. 

ritie.s, these securities to be taken at 75 cents on the dollar, and they Mr. HARRIS. I wish to accommodate both the Senator from Michiare not to be taken until they are passed upon by a committee of three, gan and the Senator from Connecticut, if I can. Will the Senator from 

the Secretary of the Treasury, the Comptroller of the Currency, and Michigan consent to a11ow his special order to go o>er for the next two 

the Treasurer of the United States. That I look upon as as much seen- days, this day and to-morrow, the Senator from Connecticut waiving 

rity as we can possibly have. The national banks will issue a circu- his motion until that time, ana the Senator from Vermont, on the conlation to the like amount, with the security filed, and thus circulation elusion of the bill he ba.s in charge, allow us to proceed with the Calenwill be provided for. dar under Rule VIII, as we have been doing for the past two or three 

There can be no surplus in the Treasury as long as there is a debt. days, by unanimous consent? I think we shall accomplish a good 

There can be no reduction in the volume of the national-bank currency deal more in that way than in any other. I should certainly be very 

if my bill is passed, because as the Governinent bonds are paid other glad if the Senators would consent to the suggestion I make to proceed 

securities will be substituted. with the call of the Calendar to-day and io-morrow. 

1\lr. REAGAN. I ask the Senator from Vermont to allow me a word. The PRESIDENT pro tempore. The pending question is on tbe mo-

. The PRESIDENT pro tempore. The motion is not debatable. tion of the Senator from Tennessee [Mr. HARRIS] to postpone the conMr. UO RRILL. I do not renew the motion if the Senator from Texas sideration of the special order until to-morrow at 2 o'clock. The Sendesires to be heard. a tor from Tennessee asks unanimous consent that the special order and 

Mr. REAGAN. As I shall vote against the motion to lay the amend- the bill for the admission of South Dakota be postponed for two days, 

ment offered by the Senator from Kansas on the table, I desire to say and that the consideration of the bill moved by the Senator from Ver· 

that in doing so I do not concur in that part of the amendment which mont be continued to its conclusion, and that thereafter the Senate pro· 

proposes to make the notes of the Government a legn.l tender for pri- ceed to the (..'Onsideration of the Calendar under Rule VIII. Is there 

vate debts. I would have the notes to be issued exactly on the basis objection? 
2398 CONGRESSIONAL RECORD~SENATE. MARCH ·26, 

Mr. PLATT. I object. 

The PRESIDENT pro tempore. The question recurs, then, on the 

motion to postpone until to-morrow. 

Mr. REAGAN. Only a word on tha.t motion. The Senator from 

Michigan says that the country is urgent for this bill and that persons 

are here anxious for its passage. I am not aware of the circumstances 

which create the special emergency for its passa.ge. We ha\e a law 

in force to control and regulate anill\31 industry and to protect ca.ttle 

against the evil effects of pleuro-pneumonia. I do not know of the 

great changes between the law proposed and the one in existence which 

would indica.te that there is a great emergency and an urgent necessity for action upon that bill. It proposes a change from the head of 

the Department of Agriculture and those associated with him to an 

independent commission. There are other changes, but that is the 

main point in the bill. I hope, if the Senator will allow the matter 

to go over, to be able to show that there is no necessity for that change. 

Mr . . p AL~IER. I think the Senator from Texas is mista.ken when 

he says that there is no immediate necessity for the enlargement of the 

powers of the Department of Agriculture. This morning I saw a telegram in the papers that a new and very fatal malignant disease among 

cattle ha.d broken out in Gainesville, Tex. There is a new outbreak 

of pleuro-pneumonia announced this morning in Cincinnati, and we 

a.re continually getting memorials urging us to do something to enlarge 

the powers of the Department of Agriculture and to make it more efficient in this direction. I did not hear the whole of the remarks of 

the Senator from Texas, but the bill which will be brought up for consideration, Senate bill 2083, is very distinct from bill 941, and it will 

be amended so that all those who object to detracting from the powers 

of the Department of Agriculture will be perfectly satisfied that it has 

been the intention of the committee to magnify that Department rather 

than to detract from it. What we contend for now, and what we can show by the concession of the Commissioner of AgricultuTe, us well as 

memorials and testimonials from other parts of the country, is that the 

Department of Agricultrue has not sufficient power, and we want a radical bill that will enable the commissioners proposed in this bill No. 

2083 to take hold of this disease and stamp it out wherever they can 

fiml it in the country. 

llut the bill is much more comprehensive even than its title would 

indicate, "for the suppression of pleuro-pneumonia. ' It takes up the 

swine plague, all communicable diseases 1 glanders in horses, and other 

diseases which are now running riot through theN OTthwest; and in my 

opinion it is one of the most important bills that has ever come up before Congress for legislation. It repre ents directly 35,000,000 people. 

It represents$2,400,000,000 in property. It indirect.ly represents 30,-

000,000 peorle more. It has greatly to do with our foreign trade and our 

interstate trade, and, in my opinion, there is no more important bill coming up this SE'SRion for the consideration of Congress. For myself, I should 

be willing to have it postponed for a day; but if the Senator from Connecticut, who is very urgent with his Territorial bill, insists that! shall 

keep mypbce and retain my right, I can not concede the request of the 

Senator trom Texas, which, under other circumstanees, I should be very 

gla1l to do. 

1\Ir. REAGAN. l\fr. President, if the Senator will not consent to 

the postponement of this bill, I desire to address a word to the Senate, 

and that woTd is that the motion to make this the order of the day was 

made when both my colleague and myself were absent from the Senate 

and we had no opportunity to be heard, and no chance was given for 

the iuve tigation of a question which the Senator says is most important. 

So I shall appe.."'>l to the Senate not to require us to come to a vote on 

this subject before we have time to meet the arguments in favor of the 

bill. 

Mr. GEORGE. Mr. President, I desire to be allowed to make aremark or two :!n regard to the importance of this bill. . 

It; is admitted to be a very important one, and if the bill passes it 

ought to be pa ed promptly. In all my experience I have not known 

a bill which so plainly and so clearly contravened the interest of the 

people and which so obviously u::;urped powers which on all sides have 

been heretofore conceded to belong to tbe States and which have been 

decided in numerous cases by the Supreme Court of the United States 

to belong to the States. · 

Mr. PLUUB. I think the controversy about that bill will depend 

more npon the question of con titutionality than anything else; but 

outside of certain provisions which under the beliefs held by Senators 

on that sii!e and some on this side are unconstitutional, there are provisions in it which ought to be enacted into law. The great interest 

which it represents, a.nd the gravity of the situation ought to prevent 

any opposition to the bill coming up and being considered, merely because of ohjection to some particular provision in it. There are provisions in it which on reflection all will concede not only to be important, but to be necessary to be adopted, whic:l:rarejust as importa~t to 

the 8t..11te of Texas ns to any other State in the Union. I know the 

Senators from that State will be glad to adopt some new features of 

legislation which will secure protection to one of the great industries 

of that State from the dangers that threaten it, if they can do so without violatitH! the Constitution. We disagree about some provisions of 

the bill, but there are portions of it which no one will object to. 

The PRESIDENT pro tempo1·e. The question recurs on the motion 

of the Senator from Tennessee, ro postpone t.he consideration of the 

special order until to-morrow at 2 o'clock. 

The motion was agreed to. 

The PRESIDENT pro tempore. The further consideration of the 

special order is postponed until to-morrow at 2 o'clock. 

LANDS IN DENVER. 

The PRESIDENT pro temp01·e laid before the Senate the action of the 

House of Representatives non-concurring in the amendments of the 

Senate to the bill (H. R. 3300) to amend an act to enable the city of 

DenveT to purchase certain land for cemetery purposes. 

On motion of Mr. TELLER it was 

ResoZ1:ed, That the Senate insist on its amendments to the said bill disagreed to by the House of Repre entatives, and agree to the conference asked by the House on the disagreeing votes of the two Houses thereon. 

By unanimous consent, it was 

Ordered, That the conferees on the part of the Senate be appointed by the President pro tempore. 

The PRESIDENT pro tempore appointed Mr. PLmm, Mr. TELLER, 

a.nd 1\lr. COCKRELL. 

ENROLLED BILLS SIGNED. 

A message from the House of Representatives, by :ho'Ir. C!-ARK, its 

Clerk, announced that the Speaker of the House had signed the following enrolled bills; and they were thereupon signed by the President 

pro tempore: 

A bill (S. 2494) to provide for the payment of the funeml expenses 

of the late Chief-Justice of tho Supreme Court; and 

A bill (H. R. 6437) to provide for certain of the most urgent deficiencies in the appropriations for the service of the Government for the 

fiscal year ending June 30, 1888, and for other purposes. 

PRESIDENTIAL APPROV ALl;!. 

A message fi·om the President of the United States, by l\Ir. 0. L. PRuDEN, one of his secretaries announced that the President had on the 

23d instant signed the act (s. 1027) to fix the charge for passports at 1. 

PURCHASE OF BOND . 

1t1r. HARRIS. I now move that the Senate proceed with the consideration of the bill in charge of the Senator from Vermont [Mr. MoRRILL]. 

The PRESIDENT pro tempore. If there be no objection--

M:r. PLATT. I should like to make a parliamentary inquiry. If 

that bill is taken up now and not finished to-day, it will have prece- dence to-morrow of the special order, will it not? 

The PRESIDENT jlro tempo1·e.. It will if ]eft as the unfinished business. 

Mr. PLATT. I <lo not propose without the consent of the Senate 

to have another important matter interjected between that bill and 

the Dakota matter. 

The PRESIDENT pro tem,pore. The question recurs on the motion 

of the Senator from Tennessee, that the Senate proceed with the consideration of the bill (H. R. 5034) to provide for the purchase of United 

States bonds by the Secretary of the Treasury. 

The motion was agreed to; and the Senate us in Committee of the 

Whole, resumed the consideration of the bill, the pendi,ng question 

being on the amendment submitted by 1\fr. PLmun. 

Mr. SHERMAN. Mr. President, I am inclined to think it wotud 

be wise to confine the debate to the pending bill and not to go into tho 

other propositions which have been made, and if that be the desire of 

the Senate I shall not seek to say anything on those propositions. If, 

however, it is the desire of the Senate to proceed with the considcmtion of the financial questions growing out of the contraction of the 

currency, I shall desire to submit some very important figures bearing 

on the subject. 

As to the bill that is before us, it is now the law, conceded to be so 

by every member of the Committee on Finance familiar with the bic;-

tory of the law. The language of the law of 1 1 is stronger and clearer 

and better than the language of the bill before us. Not a single act 

can be done under this bill that can not be done under the existing law, 

and all that this bill intends js to remove, not a doubt expressed by tho 

Secretary of the Treasury, because he never had any and never expressed 

any, but a doubt expressed by the President, who shows by the context of his remarks that his attention was not called to the legal question at all, and he probably did not know anything about it. Still, to 

remove a doubt and get on the way of putting out the money of the 

Treasury, I would vote for the bill, and another one like it the next <i'ly, 

and so on day by day until we shall have a bill compelling the exercise 

of the power that has necessarily existed in tlle Secretary of the Treasury 

since 1862, and a power without which that Department could not conduct the great operations intrusted to it. 

I do not wish to go further into this matter, or debate the proposition of th·e Senator trom Kansas, if he will yield to the suggestion which 

has been made. I ask the Senator from Kans::ts whether he insists on a vote upon his amendment? 

Mr. PLUMB. Not only on this biJl, but, if it is voted down here1 

on every bill to which it is appropriate and germane. 
1888. CONGRESSIONAL RECORD-SENATE. 2399 

Mr. SHERMAN. If that be so, we may as well dismiss the question that is proposed of taking up the bill to admit Dakota. · Now, in_ order that we may exactly understand each other, I will 

take the liberliy of renewing in a moment the motion made by the Senator from Vermont, because if the Senate shows by its affirmative vote 

that it is not willing to go inlio the general financial question to·day, 

into all the questions that grow out of the contraction of the currency, 

then by expressing its opinion by laying the amendment on the table 

without regard to its merits it will express its view as to whether it 

will go on and discuss those questions. If not, and that proposition is 

voted down, then I have an amendment to authorize the investment 

of what is called the bank fund. I also have a proposition to authorize the issue of more circulating notes to national banks. The Senator 

from Nevada [Mr. STEW ART] has a proposition to make the coinage of 

silver bullion free, I suppose, and the Senator from Kansas [Mr. PLUl\IB J 

has a perpetual and perennial proposition to attach to this or any other 

bill. 

Before I go into a discussion of the financial subject I renew the mo- tion of the Senator from Vermont, and I shall vote in favor of laying 

this amendment on the table without respect to its merits and without 

respect to any opinions on the general question, but simply pledging 

gentlemen that whenever the question can come up in the ordinary 

way on a bill involving these various points I will join in perfecting any measure that may be thought proper to relieve us from the roolly distres ed condition of our :finances at this moment. 

Mr. CALL. I ask the Senator from Ohio to allow me to put a question. Is it not certain, in his opinion, that the exercise of this authority 

to purchase bonds will have some effect on the price of bonds in the 

markets? 

Mr. SHERMAN. I think not. The money that is paid out for these 

bonds will enter into cuculation as a matter of course. Mr. CALL. How would it affect the national banks? 

Mr. SHERMAN. I do not see how it could affect the national-bank 

circulation. You may as well make up your minds that if the national 

banks can not issue circulation to something approaching the value of 

their bonds, they will not feel justified by the law of banking, that is 

the law of profit, to continue the issue of circulating notes. The 4 per 

cent. bonds are now worth 125 per cent. If deposited in the Treasury 

by the banks the latter can only get 90 per cent. of circulation on the 

par value of those bonds. Mr. CALL. What I want to get at is, whether or not this authority 

to pttrchn.se bonds might not have the effect to produce a larger price 

for them. 

Mr. SHERMAN. That leads me to make a remark which I would 

have elaborated and made more at length if there was discussion. If -the 

Secretary of the Treasury thinks this bill compels him to go right into 

the market and bull the market, to use a cant phrase, and put up the 

price of bonds, then as a matter of course it might induce the banks, 

in order to get a high and unnatural price for their bonds, to sell their 

bonds to him, and in that way withdraw more"andmore bank currency. 

But if he does as all his predecessors have done, lets no man know when 

he will buy bonds, giving his order to the assistant treasurer in New 

York to buy a million of bonds, say to-night, watching the market, he can not only prevent the increase of the market value of the bonds, 

but probably so aetas to produce a decrease in the price of the bonds. It 

depends precisely on the manner in which he exercises this authority. 

I hope the Senator from Kansas now will let us have a vote on the 

question. I do not care how the Senate vote on it. If they vote to lay 

this amendment on the table on the ground that they wish to pass this 

bill without am,endment, then I shall say no more on the subject. 

Mr. PLUMB. Do the Finance Committee propose an amendment to 

this bill? 

Mr. SHERMAN. No; the Senator from Kentucky [Mr. BEcK] pro- posed an amendment, but does not urge it. 

Mr. PLUMB. Do the committee recommend the bill as it came from 

the other House? 

The PRESIDING OFFICER (.Mr. FRYE in the chair). Did the Sen- ator from Ohio renew the motion of the Senator from Vermont to lay 

the amendment on the table? 

Mr. SHERklAN. I did. 

The PRESIDING OFFICER. The Senator from Ohio moves that 

the amendment lie on the table. 

Mr. PLUMB. I call for the yeas and nays. The yeas and nays were ordered. 

Mr. VOORHEES. I ask that the amendment be read. 

The PRESIDING OFFICER. The amendment will be again rec1.d. The Secretary read the amendment of M:r. PLUMB. The Secretary proceeded to call the roll. 

Mr. HISCOCK (when his name was called). I am paired with the 

Senator from New Jersey [Mr. McPHERSON], but as I understand he 

would vote as I should, I shall record my vote on this question. 

Mr. PLATT (when Mr. HAWLEY's name was called). Myco1league 

[M:r. HAWLEY] is absent from the Senate Chamber and is paired "With 

the Senator from Missouri [Mr. CoCKRELL]. If he were present, my 

colleague would vote '' yea.'' 

Mr. PUGH (when his name was called). I am paired with the Senatorfrom VJ)rmont [Mr. EDMUNDS]. If he were present, I should vote 

''nay." 

Mr. WILSON, of Maryland (whenhisnamewascalled). Iampaired 

with the Senator from Rhode Island [Mr. CHACE]. Not knowing how 

he would vote if present, I decline to vote. 

The roll-call was concluded. 

Mr. KENNA. My colleague [Mr. FAULKNER] is paired with the 

Senator from Pennsylvania [Mr. QUAY]. I am paired with the Senator from Minnesota [Mr. SABIN]. 

Mr. COCKRELL. I am paired with the Senator from Connecticut 

[Mr. HAWLEY]. If he were present, he would vote "yea" and I 

shoulg vote "nay." 

.M:r. CALL. I understand my colleague [Mr. PASCO] is paired with 

the Senator from Pennsylvania [Ur. QUAY]. 

Mr. PAD DOCK. I am paired with the Senator from Louisiana [M:r. 

EUSTIS]. ~fr. SPOONER. My colleague [Ur. SAWYER] is necessarily absent 

from the city. He is paired with the Senator from Georgia [M:r. 

BROWN]. 

Mr. EVARTS (after having voted in the affirmative). !voted "yea" 

without noticing that the Senator from Alabama [Mr. MoRGAN] was 

not in his seat. I am paired with him, and therefore withdraw my 

vote. 

Mr. BROWN (after having voted in the negative). I withdraw my 

vote. I did not think at the moment that I was paired with the Sen- ator from Wisconsin [M:r. SAWYER]. 

The result was announced-yeas 23, nays 22; as follows: 

YEAS-23. 

Allison, 

Bate, 

Beck, 

Blackburn, 

Cullom, 

Davis, 

Dawes, 

Farwell, 

Frye, 

Hampton, 

Harris, 

Hiscock, 

Hoar, Sherman, .Jones of Arkansas, Spooner, 

l'tiorrill, Stanford, 

Payne, Stockbridge, 

Platt, Wilson of Iowa. 

Berry, 

Bowen, 

Call, 

Cameron, 

Coke, 

Daniel, 

Saulsbury, 

NAYS-22. 

Dolph, 

George, 

.Jones of Nevada, 

Manderson, 

Mitchell, 

Palmer, 

Plumb, 

Ransom, 

Reagan, 

Sabin, 

Stewart, 

Teller, 

ABSENT-31. 

Aldrich, Colquitt, Hale, 

Blair, Edmunds, Hawley, 

Blodgett, Eustis, Heru·st, 

Brown, Evarts, Ingalls, 

Butler, Faulkner, Kenna, 

Chace, Gib_son, 1.\-fcPherson, 

Chandler, Gorman, l'tforgan, Cockrell, Gray, Paddock, 

Vance, 

Vest, 

Voorhees, 

Walthall. 

Pasco, 

Pugh, 

Quay, 

Riddleberger, 

Sawyer, 

Turpie, 

Wilson ofMd. 

So the amendment was ordered to lie on the table. 

Mr. PLUMB. I now move the same amendment, leaving out the 

words "public and private," leaving the Treasury notes to be issued 

receivable for Government dues and legal tendru: only between national 

banks. 

The PRESIDING OFFICER. Does the Senator from Kansas desire 

to have the amendment read? 

Mr. PLUMB. I do not think there is any necessity to read it. I 

do not ask to have it read. At all events, I shall not ask to detain the 

Senate for that purpose. 

Mr. MOH.RILL. I move to lay the amendmentMr. PLUMB. I beg the Senator's pardon; I have the floor. I was about to observe that this ought to be a measure of very great 

importance and of very great urgency in order to induce the Senate at 

this ·stage of it.s proceedings to resort to the only way in which debate 

can be cut off in this body; aud ·yet this bill, as reported from the Fi- nance Committee, is almost an exact copy of one already on the statute-books. There is not a member of the Finance Committee and 

there is not a member of the Senate who will say that one single line 

of this legislation is necessary or that if passed it will enable the President to do other or more than he can do under existing law. .And yet 

it is in behalf of a bill simply designed to get the President out of a hole, and which adds nothing to what has already been enacted, that 

the Senator from Vermont and the Senator from Ohio have sought to 

stifle debate in the Senate. 

Mr. President, if there be urgency, it is for the passage of such a propos1t1on as is embodied in my amendment. '.rhe urgency is, or should be, to prevent the further contraction of the currency; to secure to the people of the United States an ample supply of money with w hicb to transact their business. 

On the 26th day of December, 1873, the volume of national-bank 

notes outstanding was $341,320,256. It is now less than $170,000,000. 

In other words, about $180,0001 000 of national-bank circulation has 

been retired, has absolutely disappeared, during the past fourteen years. 

l\lr. FARWELL. I beg the Senator's pardon. There are about 

$270,000,000 now out, but the Government of the United States has 

assumed to pay $100,000,000 of those notes with the money which has 

been deposited in the Treasury for that purpose. Therefore the amount 

out6tanding is $100,000,000 more than the Senator has stated it, but 

it is not secured by any Government bonus. 
.-

2400 CONGRESSIONAL RECORD-SENATE. MARoH 26, 

:hfr. PLUMB. 'l'he report of the ComptroJler of the Currency states 

the amount outstanding on the 1st day of August, 1887, as $166,000,000. 

That was last August, and the amount was $166,625,658. 

1t!r. FARWELL. I beg pardon for one moment. That statement 

is not accurate. The Senator will see a further item in the report. 

He will find $105,000,000, or about that amount, ofUnitedStatesnotes 

on deposit with the Treasurer for the purpose of redeeming a like 

amount of national-bank notes unredeemed. 

. Mr. PLUMB. That only makes it so much worse. Then there has 

been a contraction not only of this $180,000,000 national-bank circulation withdrawn, but there is $105,000,000 of the three hundred and 

forty-six nominal million dollars of national-bank n-otes retained in the 

Treasury. 

Mr. FARWELL. No. 

Mr. PLUM~. Greenbacks? 

Mr. FARWELL. Those have been paid out. 

.Mr. PLUMB. They have been paid out, but they are not out now; 

they are not performing any office of currency at the present moment. 

Mr. FARWELL. I beg pardon. On the contrary, the Government 

has assumed to pay the one hundred and odd million dollars because 

it has received the money for that purpose. Thi'! $105,000,000 has 

been invested in the purchase of bonds. 

Mr. PLUMB. I am talking about what is out in the hands of the 

'People. What is in the Treasury is not in the hands of the people. 

What is locked up is not performing any purpose of circulation. 

Mr. FARWELL. That is what I desire to say to the Senator. The 

$100,000,000 have not been paid out now. Mr. PLUMB. But the Comptroller of the Currency says that on the 

1st day of August last there were only $16G,OOO,OOO of national-bank 

notes altogether outstanding. 

Mr. FARWELL. No, he does not. 

1\fr. PLUMB. I beg your pardon. If you can read better than I 

can, read this statementMr. FARWELL. That is not the fact. 

Mr. PLUMB. I am sorry. The table on page 93 of the Comptroller's report gives the circulation on the 1st day of January, 1886, at 

$213,239,530, and on the 5th day of October, 1887, at $167,283,343. 

Mr. FARWELL. Secured by Government bonds. 

Ur. PLUMB. Secured by Goyernment bonds. 

Mr. FARWELL. That is right. 

1\fr. PLUMB. Is there any circulation outstanding of national-bank 

notes not secured by Government bonds? 

M..t·. FARWELL. One hundred and five million dollars. Mr. PLUMB. Not secured by Government bonds? 

1\Ir. FARWELL. Yes, sir; $105,000,000. 

1\Ir. :PLUMB. I will sit down very cheerfully for an hour to hear 

the Sen:ttor tell me just how be makes that out. 

1\Ir. FARWELL. Certainly; I will do it in two minutes. 

The PRESIDING OFFICER. Does the Senator from K::ms..'\8 yield 

to the Senator from Illinois. 

Mr. PLUMB. I do. 

.Mr. FARWELL. In 1882 there were $359,000,000 of national-bank 

notes outstanding. Since that time the national banks of the country 

ha,·e sunendered one way and another, by going into liquidation and 

vo1unt:trily surrendering their circulation, $200,UOO,OOO of their bonds, 

and they have also taken up until they have paid in that amount of 

money and taken their bonds out. They have paid into the Treasury 

:200,000,000 in money and received back in bonds more than $200,-

COO,OOO. 

Ir. PLUl\IB. That comes back to just the same thing exactly. 

For all purposes the amount of national-bank currency outstanding is 

1G6,000, 000 or $167,000,000, as the case may be, taking which one of t~ese t:tbles you please. . Mr. FARWELL. -secured bv Government bonds. 

Mr. PLUMB. It is in process of retirement.; it is performing no 

office practically as currency. 

Mr. FARWELt. Ibegpardon; thereareover$100,000,000outstanding for which the United States has notes of equal amount. 

Mr. PLUMB. That is only another way of stating the essential fact 

of my first statement, that there has been a diminution of the paper cur- rency of the country since 1873 of about $180,000,000, because the Senator from Illinois is only talking about the method of book-keeping, 

not about the thing itself. 

:Mr. F AHWELL. I beg the Senator's pardon, that is not correct. 

If you take the last statement of the Secretary of the Treasury you will 

fi nd that there are only 33,000,000 to-day, or were at the beginning 

of this month, of United Stn,tes notes in the Treasury. There were 61,000,000 of money deposited witlrtbe national banks, and that added 

to the $33,000,000 makes the $90,000,000 and odd of surplus. 

Mr. PLUMB. I am not talking about what is in the national banks 

and what is in the Treasury; I am talking about the currency of the 

country in actual existence. 

Mr. FARWELL. If the Senator will permit me, I will state that we have in circulation in the United Statesto-day$346,000,000 of United 

States notes, less $33,000,000. in the Treasury. Then add to that the 

silver certificates and the gold certificates and the national-bank circulation of about $270,000,000. In the debt statement the Tre.:'\Surer says 

be bas gold for $105,000,000 of national-bank notes which are outstanding, which he has received the money to redeem, and this $105,000,000 

is invested in bonds, so that so far as the Government of the United 

States is concerned the $105,000,000 stands precisely in thesame status as United States notes. 

Mr. PLUMB. The Senator from Illinois seems to think that money 

in the Treasury is as usefully employed as though in circulation among 

the people. I am talking about .the volume of paper money proper, 

which is composed of but two kinds. I am not talking about silver 

certificates or gold certificates. They correspond to the amount of 

metallic money which has been deposited in the Treasury, the persons so depositing it merely desiring to put it into more convenient form for 

the transaction of their business. The volume is not changed by the 

process . 

1\fr. FARWELL. I desire to say to the Senator, if be will allow me, 

that the present national-bank circulation is about $270,000,000, and 

the gr~enba.ck circulation is about $313,000,000. That is now in the 

hands of the people, and the report of the Secretary of the Treasury 

shows that to be the case. Mr. PLUMB. I have the official report in rega1·d to this matter, 

which I propose to take as the correct figure until somebody rises with 

something better. 

Mr. PLATT. M:ay I ask a question for information? 

Mr. PLUMB. Yes, sir. 

M:r. PLATT. Does the Senator know how much during the period 

he speaks of the silver certificates have been increased? 

Mr. PLUMB. I do not know the exact amount. It is not pertinent 

to :what I am speaking of. I come back to my first proposition, that 

the paper money of this country has diminished in volume since 1873 

by nearly $180,000,000. 

Mr. PLATT. Since 1883? 

Mr. PLUMB. No, since 1873. In the last fourteen years it has 

diminished $180,000,000. 

Mr. President, the pending bill is justified on the ground that in the 

event the Secretary of the 'l'reasury should conclude to obey its mandates the surplus in the Treasury will be thereby depleted and the cur- rency in circulation be increased in volume by the amount of the surplus thus paid out. But, as I have before said, no one can tell, not a 

single member of the Finance Committee will even guess-that is, he 

will not guess out loud so as to be responsible for his guess-as to the 

amount that will be added to the circul:tting medium of the country 

by the purcl!a.se of bonds which may or can be purchased under the 

provisions of this bill. 

I am told upon what I believe to be good authority, and it is acces- sible in the records, that the national banks of this country hold about 

$60,000,000 in bonds as security fof currency beyond the amount they 

need to hold in order to maintain their charters. For instance, many 

banks requiring only $25,000 in bonds to retain their charters have $50,-

000 and sometimes $100,000 bonds in addition, on which currency is 

issued and outstanding. Such banks can sell the excess of bonds above 

25,000 by retiring their circulation based on such excess, or by depositing an equivalent amount of greenbacks the Treasury will retire them, 

which is the same thing. This contracts the volume of currency outstanding, but it may slightly increase the amount actually in circulation, that is, by 10 per cent., the difference between the face of the bonds 

and the cunency based on them. 

If this bill should become a law and the Secretary of the Treasury 

should act upon the bheory which has heretoforo controlled him, it is 

not probable that he would buy more than $60,000,000 of bonds, and 

if be did not it would be possible, if not probable, that these bonds 

would all come from national banks now holding them as security for 

circulation, and thereby there would be practically no increase of the 

amount of money in actual circulation by reason of the purchase of 

bonds by reason of the passage of the bill. 

We are urged, therefore, to pass a bill as a matter of emergency which no one will say what the effect of will be, except the one effect of putting the money out of the Treasury into the bands of the holders of bond~, without any reference to the effect it may have upon the vol- ume of the currency. 

But, Mr. President, it may have another effect of an injurious kind. 

The Treasury Department is in active partnership with the national 

banks. The Secretary of the Treasury has loaned to these banks over 

$61,000,000 of the public funds instead of buying bonds and saving 

interest. He has chosen to do this, and up to date the banks have 

been willing to receive the money. It cost them nothing and they 

could loan it to the people for current rates of interest. But now the 

banks have got to a point where they are declining, I understand, to 

receive any more public money on deposit, because they believe tho 

money liable to be called for at any time suddenly and in bulk, and 

those of them who have read history know that in the only other period 

of history when such a partnership was entered upon it proved disastrous 

to the b~nk.S, disastmus to the Goyernment, and disastrous to the people. Meanwhile the Secretary bas given to the banks the use of funds 
1888. CONGRESSIONAL RECORD-SENATE. 2401· 

whichba"'e yielded them not less than$5,000,000which the people have 

paid, and has failed to save to the Treasury at least half that sum, which 

he could have done by purchasing bonds. 

EYen if this bill should pass, the Secretary might decline to obey its 

mandates. as he has the one of the same tenor now on the statutebooks. There is, therefore, grave doubt of the propriety of its passage. 

But whether the bill passes or not, the great question of the volume 

of the currency of this country is left to take care of itself. The Administration recommends nothing and the Finance Committee does 

nothing. 

Mr. President, if there is urgency for anything, it is for wise legislation upon the currency question. My amendment ought to be put upon 

this bill specially, because it is a House bill. It therefore offers an opportunity to have the HoWle pass upon it directly, which will not come 

if it were put upon either of the other bills which have been mentioned 

here, because they are Senate bills. 

But the Finance Committee, as heretofore and always, does not mean 

that any legislation adding to the volume of the currency, or any measure which replaces the currency which has been taken from the people, 

shall ever be adopted. That committee intend to obstruct and prevent 

everything of this kind. That committee is moved by impulses, by determinations, by theories, which are opposed to anyincreasein the"'olume of the currency and equally opposed to anything that stops its con- traction. 

.M:r. MORRILL. The Senator from Ka.nsas, so far as I am concerned, 

speaks entirely out of the book. He does not know anything about it, so far as I am concerned. 

Mr. PLUMB. I appeal from the word of the Senator from Ve1·mont 

to the record of his committee; I appeal to the action of that committee 

on this floorw hene"'er this question has been up. I say that that comlnittee, with all the determination of its able and determined chairman, with all the determination of the former Secretary of the Treasury now a member of the committee, with n,ll the determination ot 

that influence which has controlled the financial policy of the country for the last thirty years and controls it yet, the control of bondholders and money-lenders, has resolved that nothing shall be done 

which shall operate to make th~ burdens of the people lighter by increasing the volume of the currency or even by preventing further contraction. 

These facts are shown by the character of the opposition offered to this 

amendment. It is not debated upon its merits. The Senn.te is asked 

to vote it down without debate, upon the pretense that it does not belong 

to a bill of this kind. Mr. President, it is in order; it is germane; it is 

highly important; and without it the bill might just as well never be 

passed. 

So far as I am concerned I intend, as I said before, to move this amendment, or one similar to it, to every bill which that committee proposes. 

I do not expect to make any impression on the indurated hide of the 

Finance Committee; but I do hope to arouse the Senate, I hope to arouse 

the country, to the non-action which has characterized Congress for the 

last fifteen years upon this very important subject. We have sat here 

for the last fourteen years and seen the volume of the currency contract 

by reason of the shrinkageofthenational-bankcurrency, and the motive 

ior such non-action is found in the remark of the Senator from Ohio a 

moment ago, to the effect that if more currency was wanted inducements shou]d be offered to the national banks to supply it. 

I tell that Senator, as I have often before said in my place here, that 

Congress will never offer to any national bank any inducement to take 

• out or to issue any more currency than they have got now. It is after 

the feast entirely. The country has made up its mind that the national 

banks are not to furnish it with currency:. They are no longer factors 

in that great question. The issue of currency is an act of sovereignty 

which the people do not mean to have delegated to any further extent 

than it is now, and as fast as the national-bank currency now outstanding is retired something else is to take its place. The question of the 

volume of the currency is not to be settled by private corporations upon 

the basis of their own desire for gain as against the public interest. 

That is a question to be settled by Congress, and the Senator from 

Ohio will wait a long time before his remedy of more currency to be 

issued by the banks will be adopted. He will soon see what he probably prefers, a still further reduction in the volume of the currency. 

To this complexion it has come at last. The Secretary of the Treasury, working on the same line as the Finance Committee, preaches the 

issue of more national· bank currency, and in effect threatens the coun- try-that is, that or nothing. 

And thus, as we approach nearer and nearer to the financial brink 

and the danger becomes greater, we are admonished that the only remedy is more national-bank circulation. 

. No one expects relief from the Secretary of the Treasury. It has got 

to come from Congress. The Secretary of the Treasury has power to 

issue $2,000,000 a month more of silver certificates or to coin $2,000,000 

more of silver dollars, which would result in that amount added of silver 

certificates, but he will not do that. We may be sure that the administration of the Treasury Department is inspired with the same motive . 

XIX-151 

that the Finance Committee is, and that is that there shall be no currency which is to come direct from the Government and no relief of 

any kind whatever unless it comes from the national banks by some 

enlargement of their power and of their profits. That is to be held 

before us. That is the rod which is constantly held over us. 

The Senators from Vermont and from Ohio belong to the school of:finan· 

ciers who belie\e that n, small and diminishing volume of currency is 

a blessing, and that a large volume of money is a curse. They look 

at the condition of the vaults in the banks of New York City and say 

that because money can be bad there by favored ones upon collateral 

security which can be sold at a moment:s notice therefore there is 

enough to suppJy the country, and they know nothing and apparently 

care nothing about the condition of the country n.t large, about the 

impoverishment of the people in the interior, because of this hidebound policy which has characterized Congress unde1· the leadership 

of the Finance Committee and which controls the Treasury Depart· 

m-ent. · 

Mr. STEW ART. :Mr. President, I think this is an exceedingly bad 

time for the Go>ernment to be speculating in its bonds when the cur- rency is contracted as it now is. I do not believe in paying the debt 

in any other mode than that provided by law, and when that mode is 

not at hand, when it can not be paid as provided by law, I do not believe in anticipating the payment. 

The debt is payable in either gold or sil>er coin at the option of the 

Government. The act of July 14, 1870, distinctly provides that the 

bonds of the United States issued thereafter should be redeemable in 

coin of the then presen·t standard value. The question has been thoroughly discussed and decided that ''the present standard value'' means 

the standard value of July 14, 1870. The Secretary of the Treasury, 

when issuing bonds, raised the question whether this phraseology could 

not be construed io mean the standard value at the time of issuing the 

bonds. He add'ressed a letter to the Attorney-General on the 21st day 

of April, Hs77, in these words: 

TREASURY DEPART::IfENT, OFFICE OF THE SECRETARY, 

lVashi?lgton, D. C., .Ap1·il21, 1877. 

SIR: I beg leave to rnlryour attention to, and ask your opinion upon, the following questions growing out of the refunding act of July 14,1870, to wit: 

Can I stipulate in the body of the 4 per cent. bonds about to be is3ued that 

they shall be redeemahle in coin of the present standard value, that is, the 

standard value at the date of their issue, or must it be the date of the law? 

;:I submit a statement, prepared by Hon. H. F. French, Assistant Secretary, having- reference to tbe laws. It maybecomeimportanttothepublicinterests.to make the new bonds payable 

in coin of the present stand11.rd; that is, gold coin. Some doubts have been ex- pressed upon whether previous bonds issued under acls passed prior to 1873 are not legallypayablc in silver coin. This question may become important, as any doubt upon the legal terms of a publ;c security affects its value. 

Very respectfully, 

llon. CHARLES DEVENS, 

.Attor11ey-Geneml. 

JOHN SHERl\1A.L'f, &c1·etm·y. 

9n the 26th of that month the Attorney-General rendered his opinion, 

holding that "the ~~resent standard value" meant the .-alne n,t the 

date of the act. L. . _le give this opinion: 

DEPARTMENT OF JUSTICE, Washington, ..dp?"il2G, 1877. 

Sm: In answer to your letter of the 21st instant, requesting my opinion upon the following question growing out of the refunding net of July 14, 1870, to wit, 

"Can I stipulate in the body of the 4 per cent. bonds about to be issued that 

they shall be redeemab!e in coin of the present value, that is, the standard value at the date of their issue, or must it be the date of the law? " I have the honor to reply: 

The act provides for the issue of bonds "redeemable in coin of the present 

standard value." The word ''present" undoubtedly refers as a matter of date to the time when the act was passed, and not to the time when the bonds were thereafter issued. It contemplRted that a long period would elapse before it 

would finally be C.'lrried int.o eifect. and that changes in the coinage of the coun- try might occur uuring that per:od. 

Whatever changes in the coinage should occur, these bonds were, however, to be redeemed in coin of the standard value as it existed..at the date of the act. By this provision the holder was guarded against any depreciation that might 

take place in the value of the coin, and the Government would not be com- pelled to pay the additional value should the coinage be appreciated. All the 

bonds issued under the act were to stand alike, no matter what was the date 

when such bonds were i<~sued. Each was to be 1·edeemnble in coin which was included in the authorized coinage of the cotmtry at the date referred to, it 

being of the standard value as it then existed. Since the law was passed no change bas taken place in the standard value of the coin. It is understood that 

there bas been a certain change in the coinage of the country, and that silver 

dollars have now ceased to exist practically as coin. It has been further provided by the statute of Februaryl2, 1873 (Revised Stat• 

utes, sections 3585, 3586), that "the sih·er coins of the United States shall be a. legal tender at their nominal value for any amount not exceeding $5 in any one payment." 

Notwithstanding this practical change in the coinage of the country and the passage of this act in regard to legal-tenders, the form of bond to be issued by you should not be changed so far as the mode in which it is to be redeemed is 

concerned. It was not intended that this should be varied according to the 

changes which might be made in the coinage, because a definite rule was given 

by reference to the coin of a particular date. That which will pay the bonds 

heretofore issued under this act will pay the bonds which you may hereafter 

issue . It can not be authoritatively said that t-he words "payable in coin" or "pay .. able in gold" are equivalent to the words used by the statute. E'\.·en if this leaves open for discussion the question whether bonds issued under this act are or 11.re not redeemable in silver coin of the character and standard which existed July 

14,1870, it is not a. doubt which it is in your powertoremedybytheuse of words 

in the bond other than those which this statute provides. · While I comprehend the difficulty suggested in your letter, and the conven· ience that there might be in removing any question on this mfOtter, I am, 
2402 CONGRESSIONAL RECORD-SENATE. MA.Ron 28, 

therefore, of opinion that it would not be safe to issue the bonds, except as re- deem~~rble in coin of the standard value of July 14, 1870. Very respectfully, your obedient servant, CHARLES DEVENS, .Allorney-Genm·a.L. Hon. JoHN SHERMAN, 

Secretary of the 'Jireasury. 

That was not entirely satisfactory to all. The question was further 

agitated and finally passed upon by a vote of this body and of the other 

House, more than a. two-thirds vote in each House holding that every 

dollar. of bonds issued by the United States was payable in silver. 

That is the opinion of every lawyer; that is the language of the law, 

and that is the option of the United States. If the United States might 

p3y in either gold or silver at its option, was it not the duty•of the 

.executive officers to so exercise that option as to save all they could to 

the overnment? Suppose one of you were an agent for an estate, and 

you bad to deliver under a contract either a thousand bushels of oats or a thousnnd bushels of barley at a given date, and when that date came barley was scarce and worth three times as much as oats, would you 

expect to retain your place and be regarded as an honest man if you 

shonJ.d pay in barley at treble the price that you would have to pay in 

oats? Would it not be necessary for you to exercise in favor of your 

principal that option which would benefit him most? 

I will show you, if the Treasury Department had exercised that option, what the result would have been. I have some figures here which 

may be interesting to show how much has been lost already by the 

failure to comply with that option and obey the law. The following 

amounts have been paid on the bonded debt since 1879, when the Government commenced to coin the silver dollar under the act of 1878: 

Principal of the public debt, $924,723,930. 

Interest on the public debt since that time, $501,802,000. 

Total, $1,426,525,960. 

The average price of silver bullion from 1879 to October, 1887, was 84 cents on the dollar as compared with gold. If t~ money paid on the principal and interest of the bonded debt had been paid on a silver 

basis, there would have been a saving of $229,824,154, and at that time a law had been passed ru.J.owing the Secretary of the Treasury to buy 

and coin $4,000,000 silver bullion monthly in orde1· to take advantage 

of this option, and one month before the passage of the law of 1878 

both Houses of Congress had by more than a two-thirds vote declared 

that the bonds were payable in silver, and provided by law a means of 

paying them in that way. The present bonded debt is $1,027,615,662. The interest, at 4! per 

cent. and 4 per cent. and interest on the Pacific Railroad bonds at 6 

per cent., in the aggregate, when they all come to maturity, will be 

$670,107,445. This, added to the principal, will make an aggregate, 

which must be paid by the Government, of $1,697,723,107. That· 

amount must be paid to liquidate the present bonded indebtedness and 

interest. The average price of silver bullinn in 1887 was 74 cents on the dollar as compared with gold. If that price remains the same·until 

the maturity of the bonds there would be a saving of $451,408,008 in 

the payment of the existing bonded indebtedness aud interest with 

silver. Add the money already paid out and lost on the principal and 

tnterest: namely, $264,141,994, to what will be lost if the policy of 

paying in the dearer metal is pursued, namely, $451,408,008, and it 

gives a total loss of $715,550,002. This amount the Government will 

lose if it continues to pay its bonded indebtedness in gold, provided 

the price of sil >er remains stationary and does not advance. 

It can not be said that it would be inequitable to pay in silver for 

two very obvious reasons. First, the bondholder contracted to take 

silver, and there is no more reason why he should not be bound by 

- the contract than other people. Wealth ought not to exonerate any 

class of men in the United States from complying with their contracts. 

The Govemment never pays its poor creditors beyond the letter of the 

law and denies them interest, and usually demands a compromise of a part of the principal. Almost every relief bill has a compromise of that 

kind in it. 

Second, silver will buy more property to-day than it would when 

the contract was made. It has not gone down. We should not be paying the bontlholders in depreciated currency. The average furm value 

of wheat in the United States in 1879, when the Government com- menced coining silver dollars, was :i)1.04 per bushel on a gold basis. 

The farm value of wheat in 1887 was 68 cents per bushel, a. fall in the 

price of wheat of more than 34 per cent., whereas the decline in the 

price of silver has been only 26 per cent., making an exce..~ in the decline of the price of wheat over thatofsilver of8 per cent. Thesa.me 

is true of the general range of commodities. Consequently the bondholder has nothing to complain of, either in law or equity, if the United 

States insists upon the terms of the contract. 

Silver has not gone down, but the coining of gold and the action of 

various governments of the world in using gold alone has sent gold up 

and enhanced the value of the bonds. Legish1tion sought after the 

contract and the action of the Treasury Department has done this, 

and there bas been a loss of over $700,000,000 on our debt by the offi- cers having the administration of the Government declining to do what 

any honest agent for a private party would be compelled to do, and 

would be prosecuted if he did not do it. 

I do not believe that any bill should be passed to buy more bonds 

and pay for them in a contracted currency at :m enormous price, be- cause you say it will only take such a percentage, and now it takes more 

wheat to pay for them, it takes more cotton, more products. The 4 per 

cent. bonds are at 25 per cent. premium, and the other bonds are at a premium almost equal to the interest that has not becnme due. I say 

that to go into the market and buy them now, without providing the 

currency in which to buy them, without giving the people something 

that will stop this contraction and let property go up, is unfair and 

unjust, and I will not vote to buy a dollar of bonds unless there is 

ample provision made for the use of silver. 

I have several propositions. I have one that I intended to offer as an amendment to this bill which I will read but shall not offer at present, 

because there seems to be a disposition now to pass the bill in a hurry 

without consideriilg amendments. The amendment that I had intended tq offer to this particular bill, to go with it as an antidote, is as follows: 

To secure to the United States the benefits of the option contained in theacts of Congress under which the bonds of the United States were issued, to po.ythe same in either gold or silver of the standard value of July 14, 18i0, and to fur- nish silver coin sufficient for that purpose, the Secretary of the Trea ury is au- thorized a.nd directed to purchase from time to time silver bullion, at the mar- ket price thereof, not less th~n $4,000,000 worth per month nor more than ,- 000,000 per month, a.nd ca. use the same to be coined monthly, as fttst as purchased, into silver coin of the denominations, veight, and fineness now provided by b~ -

The Secretary of the Treasury ought to have done that. If he were doing it now there would be some relief to the people. I agree that 

the amendment of the Senator from Kansas is in the right direction. 

It is in a proper direction, but I should like something better. I should 

like to adopt what has been the world's money and was the world's 

money for two thousand years before the hands of speculators struck it 

down by legislation. There was no reason in 1873 for depriving the 

world of the use of silver as money and bringing on this contraction. 

I think it is the crime of the nineteenth century to have done this, and 

the world is feeling it, and the people of this country are feeling it; and 

while we are enduring these evils on a. gold basis; and practically discarding silver, I am opposed to going into the market and paying this 

debt, for I believe that before it becomes due the conscience of this coun- try will be aroused to do justice to the people as well as to the bondholders, and bold the bondholders to their contracts as well as the people. 

1\Ir. IDS COCK. :1\fr. President, the bill before the Senate is prompted 

by this language on the part of the President of the United States: 

In the present state of legislat.ion tho only pretense of any existing exe<'utive power to restore at this time any part of our surplus revenues to the people by its expenditure consists in the supposition that the Secretary of the Treasury may enter the market and purchase the bonds of the Government not yet duo at a rate of premium to be agreed upon. The only p1·ovision of law from which such a. power could be derived is found in an appropriation bill passed anum- ber of years ago; and it is subject to the suspicion that it was intended as tem- porary and limited in its application, instead of confening a continuing disct·e- tion and authority. 

The President does not deny that the Secretary of the Treasury has 

the power to purchase bonds under the act of 1881, but he seems to 

doubt the propriety of making the purchase on account of the provision 

having been enacted into a law upon a general appropriation bill. This 

bill, therefore, has been passed by the other House and has been reported 

to the Senate for the purpose of relieving the mind of the Executive 

upon that question and enabling him to get out of the Treasury the 

rapidly-accumulating surplus there. 

This has been made the occasion for the offering of an amendment by 

the Senator from Kansas, providing for the issuing of Treasury notes by 

the Treasury Depaxtment. It has been made the occasion 1or an attack upon the Finance Committee for not providing any way to relieve 

the Treasury from the surplus which is there now and which is rapidly-accumulating. 

I wish the Senator from Kansas were hereto respond to the question 

which I shall propound, and that is, how will his amendment get any 

money out of the Treasury? How will it 1·elie e us of the surplus 

already in the Treasury? How will it provide for paying out that 

already in the Treasury? We have more money there now tb..1.n is 

necessary to pay the current expenses of the Government. We h..1.ve more there than is necessary to pay the interest upon the bonded indebtedness of the Government. The surplus is rapidly accumulating, 

and why on this bill should we provide for increasing the currency 

when there is no possible way to reliev~ the Tre..'l.Sury of that currency 

when it is put there? 

Suppose we add the amendment proposed by the Senator from Kan- sas to this bill, how do you propose to get the money out of the Treasury? What are you to pay it out upon? Is the Finance Committee 

subject to the charge which has been made against it? There is no way 

to get the surplus alrea.dy in the Treasury or accumulating there out 

of the Treasury unless you pay it upon the indebtedness of the Government or purchase the outstanding indebtedness of the Govern men~. 

Is there any object in connection with thi;; bill to provide for printing more Treasury notes and piling them up in the Treasury Department? 

I might go further than that. Is there any necessity, if you wish to 

expand the currency, to coin more silver or gold for the purpose of enlarging the currency? 

However the currency may be contracted to-day by the retirement 
1888. , CONGRESSIONAL RECORD-SENATE. 2403 

of national-bank notes, whatever its volume, :is there no means or 

method to get out of the Treasury that which is there. There is hut 

one way in which that can be done, and that is by the reduction of 

taxation. I do not propose to discuss that question here and now. The sources from which money :is pouring into the Treasury must be 

cut off; -€be fountains must be dried up from which the money :is flowing into the T1·easury to-day; and we are not relieving the people from 

a contraction of the currency by either coining more sil\er or by making more treasury notes. 

The Committee on Finance may report and bring in here the pi'oposition advocated by the Senator from Kansas and numerous other propositions which have been suggested, and the only possible effectofthem 

if enacted into law is to make more paper and pile it up in the Treasury 

Department, or coin more silver or gold and pile that up in the Treasury Department. 

We come in here with asimple proposition, providing away in which 

money can be got out of the Treasury, in which the surplus that is there 

may be paid outandput intocirculationamongthepeopleof the United 

States. Why encumber it, I ask, with thesepropositioDS"to make more currency at t.hie particular time, when it is ma.de a cam;e of offense on the part of the Administration? Why encumber it with the propositions which are made here to increase our circulation? 

I concede many of the ills which are complained of in reference to 

the contraction of the currency. I am prepared to support any bill 

which may be brought in looking to relief upon that question which 

is proper in its terms; but any and all bills and all provisions which are brought here are ineffectual, and must be ineffectual unJess some 

way shall be provided to pay the money out and take it to the people. 

Mr. PLUMB. Will the Senator from New York permitme to interrupt him? 

Mr. HISCOCK. Certainly. 

Mr. PLUMB. Wllat would the Senator say to a proposition to 

simply extinguish some more of the nation's debt with it? There are nearly a thousand million dollars of the public debt outstanding. 

:M:r. HISCOCK. If the Senator desires to inquire of me whether I 

have any purpose or intention or care to support or defend the national 

banking system, I say to him, no, sir; I do not . 

.Mr. PLUMB. I am not speaking of that. I am addressing myself 

to the Senator's proposition, that if we issue these additional Treasury 

notes we should have them piled up in the Treasury, with no way of 

getting them out. I want to suggest to him whether we could not pay 

the national debt with them. What would be the objection to that 

method of getting them out? 

Mr. HISCOCK. On the one hand the Senator asks me that question 

and a moment a.go he made the argument that the more bonds were purchased the more it v.as probable, or likely, or possible at least, that 

isfied ' from an examination of it that it represents every conviction that 

I hold upon this question, and I want to make this statement before 

the yeas and nays are taken. -

The Secretary proceeded to call the roll. 

Mr. BROWN (when his name was called). I am paired with the 

senior Senator from Wisconsin [Mr. SAWYER]. If he were present, I 

should vote "nay'' and I presume he would vote ''yea.'' 

M:r. PUGH (when his name was called). I am paired with the Senator from Vermont [IIIr. ED:llUNDs]. If he were present, I should vote 

''nay.'' 

Mr. WILSON, of Maryland (when his name was called). I am paired with the Senator from Rhode Island [Mr. CHACE], but I am told that if he were present be would vote ''yea." I therefore vote. 

I vote " yea." 

The roll-call was concluded. 

Mr. FAULKNER. I have transferred my pair with the Senator 

from Pennsylvania [Mr. QuAY] to the Senator from Florida [Mr. 

PAsco]. I therefore vote "nay." 

Mr. BLACKBURN (after having voted in the negative). I am informed at the desk that the Senator from Nebraska [Mr. MANDERSON] 

bas not voted on this question, and as I am paired generally with him 

I ask leave to withdraw my vote. [A pause.] I am informed that the 

Senator from Nebraska voted ''nay '' before. So I will · let my vote 

stand. 

Mr. PADDOCK. I am paired with the Senator from Louisiana LMr. 

EuSTIS]. Not knowing how he would vote, I 1·efrain from voting. 

Mr. EVARTS. I am paired with the Senator from,. Alabama [Mr. 

MoRGAN]. I should vote" yea" if he were present. 

Mr. COCKRELL. I am paired with the Senator from Connecticut 

[Mr. HAWLEY]. If he were present, he would vote ''yea" and I 

should vote "nay." 

Mr. PAYNE (after having voted in the affirmative). I am paired 

with the Senator from Nebra-ska [Mr. MANDERSON]. I ask leave to 

withdraw my vote. 

The PRESIDENT pro tempore. The Senator from Ohio withdraws 

his vote. 

Mr. KENNA. The Senator from Ohio :is paired on this particular 

vote with the Senator from Nebraska [Mr. MANDERSON). 

The result was announced-yeas 24, nays 24; as follows: 

Allison, 

Beck, 

Chandler, 

Cullom, 

Davis, 

Dawes, 

Farwell, 

Frye, 

Hale, 

Hampton, 

Harris. 

Hiscock, 

, YEA.S-24. 

Hoar, Sherman, Ingalls, Spooner, Jones of Arkansas, Stanford, 

Morr;:J, Stockbridge, Platt, \Vilson of Iowa, Saulsbury, Wilson of Md. 

the currency would be contracted by reason of the national banks sell- Bate, . ing their bonds and thereby being compelled to surrender their circu- Berry, btion. Blackburn, 

NAY8-24. 

Daniel, Palmer, Faulkner, Plumb, George, Ransom, 

Teller, 

Turpic, 

Vance, 

Vest, 

Vo01·hees, 

WalthnU, 

Mr. PLUI\ID. But my proposition goes beyond that. g~~eron, 1\Ir. HISCOCK. I· say to the Senator very frankly that I am not at Coke, 

Jones of Nevada, Reagan, Kenna, _ Sabin, 

the present time disposed to enter into the question whether it is best 1 

now to purchase of the national banks the bonds at such price as they 

ma.y see fit to ask for them, looking to the retirement of the bonds and our 1mtting out in placo of them Treasury notes. If that is the question the Senator asks me, I sny that upon this bill I do not propose to 

discuss that question. It would then make it a question as between 

the national banks and the Government, whether the banks can make mow money by selling their bonds to the Government and' giving up 

the circulation which they received in place of them, a.nd using the notes 

they receive as the circulation of the banks. 

I say that upon this bill there is no propriety in discussing that question. The pro posit' on comes here ind~pendent of any proposition to 

reduce re\•enbe, providing one means, one method, by which the money 

which is now piled up in the vaults of the Government may be gotten 

out to the people. If we were prepared to add to this bill another meas- ure which looked to the reduction of the revenues or which provided 

some other method to relieve the Government of the amount of money 

which it has now on hand, then the amendmentoffered by the Senator 

from Kansas would be properly here for discussion. But it seems to me that I have answered all of the proprieties of the case in reference 

to that amendment and kindred propositions when I make it manifest 

that by such a bw it would be utterly impossible to relieve the Treasury of a single dollar of the surplus which has accumulated there; it 

would be practically impossible to add a dollar to· the circulating me- dium·now in use by the people. 

The PRESIDENT p1·o ternpore. The question recurs on the amendment proposed by the Senator from Kansas [Mr. PLU.l\fB]. 

1\Ir. MORRILL. I mo>e to lay the amendment on the table. 

The PRESIDENT pro tempoTe. The Senator from Vermont moves to lay the amendment on the table. 

:M:r. PLUUB. I ask for the yeas and nays. 

The yeas and nays were ordered.· 

Mr. BLACKBURN. Ur. President, following the adviceofthecommittee when this amendment substantially was pending before, and 

without careful consideration I voted to lay it on the table. I am sat1\Iitchell, Stewart, 

ABSENT-28. 

Aldrich, Cockrell Gorman, Paddock, Blair, Colquitt.; Gray, Pasco, Blodgett, Dolph, Hawley, Payne, Bowen, Edmunds, Hearst, Pugh, Brown, Eustis, .r.IcPherson, Quay, Butler, Evarts, 1\[andersorz, Riddleberger, Chace, Gibson, Morgan, Sawyer. 

So the motion to lay the amendment on the table was not agreed to. 

The PRESIDENT pro tempm·e. The question recurs on the adoption 

of the amendment. 

Mr. PLUMB. I ask for the yeas and nays. 

The yeas and nays were ordered. 

Mr. BECK. Let it be read. .1. 

The PRESIDENT pm tempore. The amendment will be again read. 

The SECI!ET.A.RY. The amendment is to add to the bill: 

That whenever the circulation of any national bank, or any portion thereof, shall be surrendered, and the same is not taken up by other national banks 

within thirty days thereafter, the Secretary of the Treasury shall thereupon issue- an equivalent amount of Treasury notes of the denominations now provided by law for national-bank notes. Said Treasury notes shall be deposited in the 

Treasury and paid out as other moneys kept for the discharge of the obligations of the Government. Tbey shall be receivable for salaries and for all dues to the 

Government, including duties on imports; shall be a legal-tender between na- · tional banks, and for all debts due to any national bank; shall be redeemable 

in coin, as the leg-al-tender notes of the United States now are; and when re- ceived into the Treasury they shall be reissued ; and when mutilated or worn they shall be replaced in the same manner as now provided by law for said 

legal-tender notes. The coin held in the Treasury at the date of the passage of 

this act for the redemption of the legal-tender notes of the Government shall 

also be applicable to the redemption of the Treasury notes herein provided for; nod such coin reserve may, from time to time, be increased by adding thereto 

other sums from payments made into tho Treasury, in the discretion ofthe Secretary of the Treasury: Provided, That the total amount of said coin reserve shall never be less than 25 pet· cent nor more than 30 pm· cent. of the total 

amount of legal-tender and Treasury notes outstanding, the true intent and 

meaning of this section being that the volume of paper money outstanding (ex- clusive of gold and silver cerlificates) shall remain as now existing. 

The PRESIDENT pro tempore. On the question of agreeing to this 

amendment the yeas and nays have been ordered. 

The Secretary procee~ed to call the roll. 
CONGRESSIONAL RECO~D-SENATE. MARon 26, 

Mr. COCKRELL (when his name was called). I am paired with the 

- Senator from Connec~~cut [Mr. HAWLEY]. If he were present, I presume he wou1d vote nay ' ' and I should certainly vote "yea." 

Mr. EV .ARTS (when his name was called). I am paired with the 

Senator from Alabama [M:r. UORG.AN]. Inhisabsence I cannotvote. 

Mr. HISCOCK {when his name was called). I am paired with the 

Senator from New Jersey [Mi. :McPHERSON], but as I know he would 

yote against this amendment if present, I vote "nay." 

Mr. PADDOCK (when his name was called). I am paired with the 

Senator from Louisiana [M:r. Eu sTis]. I do not know how he would 

vote if present., and therefore I withhold my vote. 

Mr. PAYNE (when his name was called). I am paired with the Senator from Nebraska [Mr. MANDERSON]. If he were here, I should vote 

"nay." ,.. 

Mr. PLATT (when his name was called). My colleague [Mr. HAwLEY] is absent, paired with the Senator from Missouri [Mr. CocKRELL]. 

If my colleague were here, he would vote ''nay." 

- 1\lr. PUGH (when his name was called). I should vote "yea," but 

that I am paired with the Senator from Vermont [Mr. EmmNns]. 

Mr. SPOONER (when Mr. SAWYER's name was called). My colleague [Mr. SAWYER], as I stated some time ago, is absent from the 

city, and paired with the Senator from Georgia [Mr. BROWN]. 

Mr. WILSON, of Maryland (when his name was called). I am paired 

with the Senator from Rhode Island [Mr. CHACE], but as he would 

vote ''nay," I vote "nay." 

The roll-call was concluded: 

Mr. KENN4. I am paired with the Senator from Minnesota [Mr. 

SAmN]. If he were present, I should vote "yea." _ 

Mr. CALL. My colleague [Mr. P .ASCO] is paired with the Senator 

from Pennsylvania [Mr. QUAY]. 

Mr. COCKRELL. I was paired with the Senator from Connecticut 

[Mr. HAWLEY] and so announced; but I transff;r the pair to the Senator from Colorado [Mr. BOWENl, who is absent. If the Senator from 

Colorado were here: he would vote ''yea'' and the Senator from Connecticut would vote ''nay.'' I v~te ·'yea. ' ' 

Mr. KENN.A. I understand that the Senator from Minnesota [Mr. 

SABIN], with whom I am paired, is in favor of the amendment. So I 

vote " yea." 

1\fr. BROWN. I am paired with the senior Senator from Wisconsin 

(l\Ir. SAWYER]. I should vote "yea" if he were present. 

Mr. FRYE. I notice for the first time that the Senator from Maryland [Mr. GoRMAN] is absent,· and in his absence I am generally paired 

with him. I do not know how he would vote on this amendment if 

present, but it is a very important amendment, and as I am ignorant 

of his position in relation to it, I shall refrain from voting. I should 

vote against the amendment if not paired. 

'Ihe result was announced-yeas 28, nays 21; as follows: 

YEAS-28. 

nate, 

Beck, 

Rerry, 

Hinck burn, 

Blair, 

Cockrell, 

Coke, 

Daniel, 

Dolph, 

Faulkner, 

George, 

Ingalls, 

_Jones of Nevada, 

Kenna, 

Stewart, 

Teller, 

Turpie, 

Vance, 

Vest, 

Voorhees, 

Walthall. 

Call, 

Cnweron, 

Mitchell, 

Palmer, 

Plumb, 

Ransom, 

Reagan, 

NAYS-21. 

Allison , Chandler, 

Cullom, 

Davis, 

Dawef!, Farwell, 

Gray, 

Hale, 

Hampton, 

Harris, 

Hiscock, 

Hoar, 

. Jones of Arkansas, Stockbridge, 

:Morrill, Wilson of Iowa, 

Platt, Wilson of Md. 

Saulsbury, 

Sherman, 

Spooner, 

• .ABSENT-27. 

Aldrich, Edmunds, Hearst., Blodgett, Eustis, McPherson, Bowen, Evarts, Manderson, 

Brown, Frye, Morgan, -Butler, Gibson, Paddock, 

Chace, Gorman, Pasco, 

Colquitt, Hawley, Payne, 

So the amendment was agreed to. 

Pugh, 

Qua y, ~ Rid~leberger, 

Sabin, 

Sawyer, 

Stanford, 

Mr. STEW ART. I offer an amendment as additional sections to the 

bill. 

The PRESIDENT pro tempore. The amendment will be stated. 

The CHIEF CLERK. It is proposed to add as additional sections the 

following: 

SEc. -. That any person may deposit at any mint or assa y office of the United 

States either gold or silver bullion, or both, in quantities of not less tha n 5 ounces of gold or 80 ounces of silver. and demand and receive coin certificates thet·efor The price to be paid for gold bullion, in exchange for certificates, shall 

be at the rate of $1 for 25.8 grains of gold, nine·tenths fine; the price to be paid 

for silver bullion, in exchange for certificates, shall be stated by the Secretary of 

the Treasury on the 1st and 15th day of each calendar month, and when either 

of these days shall fall on Sunday, or any other holiday, such statement shall 

be m.ade on the following secular day, and the price so stated shall be equal to the average quotations of silver in the N ewYork City market during the fifteen 

days next preceding such statement: Provided, That the price stated by the Sec- retary of the Treasury shall not exceed $1 for 412t grains of silver, nine-tenths 

fine. Bullion below the standard value deposited under the provisions of this 

section may be reduced to the required fineness at the several mints and a ssay offices of the United States, under regulations prescribed by the Secretary oft he 

Treasury, at the same cost to the depositor as is now charged for reducing gold 

bullion to the standat·d 1·equired for coinage. 

SEc. -. The <:oin ~ertificates issued under the provisions of this act shall be o~ such denominations as the Secretary of the Treasury shall prescribe: Pro- vtded, That they shall not be of less denomination than 1 or more than n ()()() and t.hat one-half ofth~ amount iss~ed shall be of denomina tions less than $50; and. 

shall be redeemable rn gold or stlver coin at the option of t.he United Slates. And the Secretary of lhe Treasury shall cause to be coined from time to time 

such portion of the b~lion dep~sited :under the provisio_ns of this act as maybe neces~ary t<? enable. him to furmsh com f?:t; the redempt10n of such cet·tiiicates. All co~n cet·ti~cates Issued under the provl8Ions of this act shall be a legal tender at therr no~mal valt~e for all dues, public and private, except where otherwise 

expressly stipulated m contracts heretofore made. 

Mr. MORRILL. I ask for the yea~ and nays on that amendment. 

The yeas and nays were ordered. 

Mr. STEW ART. I should like tO explain the exact provisions of the 

a~endment. This amendment simply provides that persons having 

etther gold or silver bullion may deposit it in the several mints and 

assay offices of the Unites States and receive therefor coin certificates? 

The price fixed upon gold is the standard price of $1 for 25.8 grains of 

standard gold. The price fixed upon silver is the market price. Persons are to deposit it a.nd receive the market price. That market price 

is to be ascertained by the New York quotations during the preceding 

:fifteen days. ~he certificates to be issued for it are to be in denominations not less than one dollar nor more than a thousand dolla rs; but 

one-half of the amount of the certificates must be in denominations 

less than fifty dollars. When bullion is deposited it is provided that 

it shall be reduced to the proper :finrness at the assay office where depos~te?- at the same ch~ges that are now made on gold for preparing it 

for comage. The certificates are redeemable in the same manner that 

the gold and silver certificates now issued are redeemable. 

I ~ave now s~ated the sub~tance of the amendment. It does not put 

up silver. It s1mply allows Itt{) be used as money at its market value. 

~ th!nk t.hat if this amend.ment ca.n be adopted we shall have prosperIty 1!1 th1s country .. It w_1ll stop the contraction that is now going on. It w1l1 not produce mflat10n beyond the actual amount of bullion produced. Bullion has been used for a thousand years; and the avowed 

object of demonetizing part of it was to limit the currency. In 1873 

Congress demonetized silver, .and it has gone down. I recoO"nize that 

fact; I take the situation as it now is, and provide for taking silver at 

its market value. 

Ur. PLATT. Does not this amendment oblige the Government to 

coin all the silver that anybody chooses to bring? 

Mr. STEW AUT. No, it requires the Government to purchase nothing. There is no element of that l~ndin it. It simply exchanges coin 

certificates for sih·er bullion at its market ·mine. Do you say yon purchase gold when you allmv it to be coined? Was it a purchase of gold 

or silver from the beginning when each had that privilege which had 

been extended through all ages to exchange it on a known basis? Was 

that regal'ded as a purchase? No; it is but a means of furnishin()' circulation; it costs the- Government nothing; it bases the circulati;n on 

the bullion. You might as well say it was purchasing gold when you 

allow it to go to the mints to be coined. 

Mr. PLATT. If it is not a purchase, it has this effect at any rate 

to oblige the Government to take all the silver in the country and issu~ certificates for it if all the silver should be offered. 

1\Ir. STEW ART. Certainly, the same as it takes all the gold now, 

and to make these certificates a legal tender. We treat silver at its 

market price. You have depreciated its market price by legislation. 

We accept that; but we now say treat it as a money metal and have 

prosperity, and be able to l?ay your debts according to the contract and 

give the people some chance for prosperity or for relief. ' 

See how this compares with your scheme of national banks. You 

say that the n..'l>tional-bank notes are good money. Why? Because 

the bonds they deposit are security for the notes. Very well, the bond 

is put into the Treasury as security_for the note . • My colleague has 

well asked, Why not keep the bond m the Treasury and save the 2 per 

cent.? Why put it out and pay 2 per cent. more, and then put it back 

in the Treasury as security? 

I pl'opose the old-fashioned way of having money. It avoids your 

schemes; it avoids tinkering with the money of the country; it avoids 

going to W~ll street and asking the speculators there to make some arrangement whereby a little c,·tn be doled out. It lets the people know 

the basis on which money is issued, and it returns as far as practicable 

(recognizing what lias already been done) to the do!lble standard, allowing the producer of bullion to bring it to the mints and receive certificates for it at its market value. 

It is suggested that we coniine the provision to what is produced in 

this country. That is unnecessary, and I want to say right here that 

there is no danger of the Treasury being flooded with silver under tbis · 

provision. There is not $5,000,000 of silver bullion in Europe and 

America. I know what is the operation here. It is shipped by every 

steamer. With the disposition to demonetize it the producers do not 

know what may happen, and it is unsafe property to keep. So in England; she has sent the bullion to Asia, and it has never l'eturned and 

it will not return. 

Then we are told that Europe will demonetize her silver and send 

it here. That can not be done. She has none that she can afford to 

demonetize and send here. If we should coin it and ra~e it at 16 to 1 

she could not send any here. He1· silver is circulating on a par with 
1888. CONGRESSIONAL REOORD~SENATE. 2405 

gold at a. relation of 15} to 1. If brought here, and we paid 16 to 1 

:tor it-if we paid par for it, they could not bring it here then, because 

they would have to put another half-ounce of silver in each dollar's 

worth before they could make it 16 to 1. But there is no danger of 

any coming from Europe. Europe is not going to take her silver legal 

tender and send it to us, her legal moneythat is circulating among the 

people; she is not going to send it here at 25 or 26 per cent. discount. 

It is dollar for dollar there, and a part of her legal-tender money that 

circulates on a par with gold, and to send it here she would have to 

pay par for it and sell it here at a discount. 

There is >cry little that can come from Mexico. It is c-irculating there. 

They have use for their sil >er there, and ha>e none to send to us. I tell 

you there is no danger whatever. The only difficulty will be that we 

shall DDt get enough. We shall have a basis that the people will know; -we shall have a currency that the people will know how it is circulated 

and by whom; and we shall return to allowing our exchanges to be regulated by silver as well as gold. It is a step in the right direction. Pass 

this measure, and my word for it you will have prosperity. 

l\1r. EVARTS. Mr. President, I would ask the Senator from Nevada. 

whether his confidence in the result of this amendment is not undertaking a responsibility quite in advance of the general judgment of the 

community, although that judgment may greatly desire a step in the 

right direction to tbe rehabilitation of silver? For myself, adher-ing 

firmly to the proposition that the two precious metals should form the 

basis of circulation and of the support of credits in common, I have not 

been able to see that any moYement could be made forward in the ab- sence of some convention with Europe on the subject that should ex- tend the opening of our mints on any condition beyond the product of 

this country. 

The Senator from Nevada would undoubtedly regard that as a step 

forward, but not so great a step forward as he would desire, and upon 

his horoscope of the future he would be responsible that all the move- ments of sil Yer from Emope, now stagnant and paralyzed to n. certain 

extent, and the immense production of new silver from the mines of 

Mexico and the now tendency of our silver outward to obtain a good 

market in India, would all be so unaffected by this new movement, 

which he considers a prodigious movement, so great a movement that 

it makes a difference between prosperity to this great nation and a lack 

of prosperity-that this agitation will all tend to nothing but this re- habilitation of the value of Ril>er and its enlargement as n. part of our 

currency. . Mr. Presideut1 a step back ward in this direction can not be ea-sily 

t.."tken. If this movement were confined in its present shape, which I 

agree doe3 not cu haucc the mea u re of our coinage given to the silver 

thus in1roduced, ir it cnuld lJe limited to the silver produced :in this 

country, weshonld ha,·e an ex_pcriment of great interest, of great value, 

and containing 110 seriou:3 threat to the influence upon the currency and 

values in common of this country. llut with all my desire that by convention, if possible, and in an accurate measure of convention with 

Europe, we should establish a system of our own, I can not ::;eo any wisdom in the Yery precipitate movement that is forced upon the country 

in this sideway amendment of n. measure with which it has no conne(}-

tion; nor do I believe that the public mind, whether it favors the en- largement of silver currency or not, has at all meditated upon this 

measure. lf the Rt-nator from Nevada has done so,l1e has the gre.at 

distinction of being more alert than the rest of the country. In meas- ures of this kind It is not wise to go in advance of the public judgment 

as deliberately formed in matters that concern in a most intimate sense alI that tonch4 s the currency and the values in common of this country. 

I must there!ore Yote against this measme, beca.use I believe it will not 

:wcomplish and may endanger what I desire-a sound and sure move- ment towards the rehabilitation of silver. 

Mr. S1'E\VAltT. E,·ery movement has to be begun. The movement to rlemone~ize silver had a beginning. Movement after move- ment to restore silver to currency has been made. We are making no 

experiment when we go back to a. thousand years' experience., It was a mistake to rlemonetize silver. But we do not seek to remedy that 

mistake altogether; we only propose a step in that direction. 

l\fy bill provided that silver bullion should be recei ,-ed by the Treasury Department at 412:! grains for a dollar, received at par; but it was objected O.at it was already at a lower price than that. Then I s..'ty 

receive it at its market priee and use it as a basis of currency. That 

is the pending amendment.. 

This talk about getting the consent of Europe is all bosh. You can not do that. T.hey have a deliberate policy there which this would destroy entirely. I believe the sentiment of this country, having seen the 

experiment, is overwhelmingly in favor of the use of silver as well as 

gold as a. basis of circulation. I believe it is overwhelmingly in favor 

of such an extension of currency as ma.y be made by the use of both 

metals and that the country wants no arbitrary limitation. I believe 

that the thousand millions of mortgageS on the value of property are made heavier by our contraction policy. I believe this continual con- traction of the currency will ruin the debtors. I do not believe I shall 

ha.ve any opportunity to get an expression of opinion on the subject un- 1 ess I offer it as an amendment to a bill w hicb is likely to become a law. 

If I could see any other way I should not offer it as an ammdment 

here. 

I offered my bill early in the session. I sent amendments to it to 

the committee, a.nd Ihavehru>rd nothing from them. There is no way 

to bring the subject before the Senate except by an amendment when 

a bill is pending. No report is made upon it, no reason has been as- signed by the Finance Committee why silver should not be received, 

and we have gone on for fifteen years, and during those fifteen years 

the value of all commodities has shrunk over 33! per cent., business 

hns been paralyzed, and it has been said here to-day that the country -was trembling on the brink of ruin. Something must be done. You 

struck at the basis of its progperity and one-half the foundation of its 

currency. Now it is trembling. We get no report from the Finance 

Committee, no consideration of this great question. They promise to 

do it in the future. That bas been the talk. You may promise fore\·er. 'Ve want performance in this line, and if we can not ha.Ye the 

benefit of the consideraqonofa. committee on so important :1 question 

I say the Senate is bound to consider it, discuss it and vote upon it. 

I believe that every Senator, if lle will examine the question ca.refully, wm feel conscientiously bound toletthepeoplehavesilver as moneyon 

the old basis. 

The idea. of letting Europeans run our finances and not taking care 

of ourselves has not worked well. Wedonotwantthem. Why should we not provide for ourselves? 

I ask to have a reasonable amount of .circulation based upon the 

precious metals, so that the people may do business, so that they shall 

not be compelled to sell their wheat 1or nothing. Wheat is lower than 

it has been 1or one hundred years. Why? It is a plain proposition. 

We can buy wheat here on a gold basis and you have to sell it in England on a gold basis. They can buy silver here for 26 per cent. discount to-day, ta.ke that silver to India, and sell it at par for wheat. 

There is no part of the world where wheat is grown that has prospered 

in the last ten years and has developed its resources except India, 

where they have had a. silver basis. The silver-basis countries are 

prosperous because they have abundant currency by getting onr cheap 

silver. When the merchant who has bought;vheat on a silver basis in 

India comes in competition with the merchant who has bought wheat on a gold basis in the United States he can undersell him, and this cuts 

off our foreign market. The same is true of cotton. 

When the1·e ia a question affecting the people as this does, if it is 

not considered in committee, the whole Senate should convert itself 

into a Committe,e of the Whole and examine the subject, and see if 

there is any relief for the farmers and for the mechanics and for the 

laboring men of this country, or whether we shall go on contracting. 

We are told by Mr. Wells that it does not make any difference ho~ 

much money we have. He says the values are short as much as the 

money is short, and they will accommodate themselves to it. That is 

true. If you destroy one-half of the world's money, if you reduce the 

money you have now one-half; values will shrink correspondingly, and 

they will continually shrink. That is an argument, he says, wlly we do 

not need any mon~ money. We draw it down, and so reduce the debts 

of the people and decrease the value Of property, which shrinks to ac- commodate itself to the volume of money. Will you let this gd on? 

If it is not worthy of discussion in open Senate, it has to be discussed 

elsewhere. · · 

Mr. EVA. RTS. Mr. President, the Senator from Nevada mixes with 

this discussion very large and important considerations which do not seem to bear upon the question before us. I will agree with him from 

the bottom of my hea.rt that the capital error, the stupendous blunder, 

of European statesmanship has been the demonelization of silver. I 

will agree that we. have suffered under that demonetization, but Germany and England have suffered much more. The lack of prosperity 

may grow out of this disturbance between the united current of the 

two precious metals which have built up ami on which are sustained 

the credit of the world, but which are now made to war against one another. EYery depreciation of the value of either of them or the en- hancement of one at the expense of the other is a mischief to commerce. All this I will agree with. No doubt the ·demonstration has been 

marked step by step in the history of Europe and of this country, till now we seem to be reduced really to a practical, and, for the time at 

least, a permanent, reductionofthe silver values in the currency of the 

world by one-quarter of the nominal rate of silver. But the Sen a tor does 

not propose to redress that mischief and to restore that parity by opening our mints to-silver; by no means. He does not open the mints to 

silver, for the mints are never opened to silver unless they are opened 

to coin the silver as coin at the value at which the dollar is rated. 

Mr. STEW ART. The Senator will allow me. The Secretary of the 

. Treasury is authorized to coin a certain amount per month. Does the 

Senator prefer another amendment which I have, providing that any 

one could put in silver on the same terms as gold at the ratio of 16 to 

1, that is, the ratio of 412i grains of standard silver to 25.8 grains of 

standa.rd gold, and receive it free at the mint the same as gold? .Are 

you prepared for that? That is free coinage. 

nir. EVARTS. I have stated that in redress of the mischiefs which 

the Sena.tor complains of, and justly, from the demonetization of silver 

• 
• 

2406 CONGRESSIONAL RECORD-SENATE. MARon 26. 

by t11e action of Germany, I did not propose at one bound to open our That they shall not be of less denomination than $1, or more th11.n SL.OOO, and that 

,.,..;nts to the coinage of the silver of the world. one-half of the amount issued shall be of denominntions les.'3 than $.)0, and shall ~ be redeemable in gold or silver coin at the option of the United States. And 

l\Ir. STEW ART. To what does the Senator refer? the Secretary of the Treasury shall cause to be coined from time to time such 

l\Ir. EVARTS. I am talking about the pxoposition of our friends here. portion of the bullion deposited under the provisions of this act as may be necesh h · · · ki sury to enable-him to fm-nish coin for the redemption of such certificates. All Nobody will venture to eay t at t at proposition IS ta ng any proper coin certificates issued under the pl'Ovisions of this act shall be a legal tender at 

step to what we desire, a restoration of parity between silver and gold their nominal value for all du.es, public and private, except where otherwise ex- at a proper measure. I said it might perhaps e~--perimentally be intro- prcssly stipulated in contracts heretofore made. 

duced as undertaking to have better care for the silver produced in our l\Ir. PLATT. Mr. President, the reading of the proposed amendown mines, leaving out the rest of commerce, Europe and the South ment shows the inadvisability of acting upon a. proposition of this kind 

American nations, to take care of their silver and see that it does not in this hurried manner. In very important particuln.rs it differs from 

fhll too much on their hands, while we weTe taking care of our own. the amendment of which we have had notice, and which has been beIt is to me, therefore, a question of prudence and of what steps are fore the Senate only since March 1, 1888. Any one reading the amendto bring us most safely and without relapse and disaster to the final ment of which we have had notice and votin~ for the amendment which 

object. The risk we recognize is that the steady, historical, uniform has been proposed to-day might be mistaken, or if he understood the 

co-ordination of the two metals in sustaining t.he commerce a.nd credits amendment of to-day would vote hastily upon :first impression upon a 

of the world bas been interrupted; but it does not follow that if one matter of the greatest importance. 

limb has been broken you can afford to, dance with it instead of musing it I bad expected to bear from the Finance Committee on this proposiso as to secure the restoration of the bruised lir:Ob. Wnetber I would or tion. I know that they are much better equipped for this discussion 

would not introduce a measure, I can Qnly sa.y that this measure, as it than I n.m. I do not intend to discuss it at any length, but before a 

appears in my judgment, is not the wisest and the best, nor does it vote is taken I think I ought to say that it seems to me we are Jannchcarry us as much forward in what we might expect to gain as one would ing our ship upon an unknown sea; whither it will sail no man can 

that was limited to our own silver. I certainly should not propose to tell. open the mints to coinage for all the silver of Europe. I venture to say There ha..':l been a great deal said here to-day about the 0ontrnction of 

t hat a great deal of European silver not now in the shape of coin would the currency in the past few years. I bad been of the impression that 

come here if they could put .it into different forms. You open our the currency of the country had not been contracted within the past 

mints for all the silver of the world to come here and take out our few years; that, tdking the gold and silver coin, the greenbacks or 

silver dollars that a1·e a legal tender here, and see whether they will legal-tender notes, the national-bank notes, our currency had been inn ot lose 3 per cent. and 5 per cent. and 10 per cent., to the detriment creased rather than diminished within the past few years. I think I 

of our silver standard which was created for us. am right. Whether our cuiTency is equal in volume to the necessities 

But I have hoped that a judicious measu.re might be framed in the atld 1·equirements of trade and population is another thing; but that 

interest of our silver product, which we can count and measure, and there bas been by reason of the retirement of the national-bank notes 

whatever benefit was done to it was done within our own territory and any absolute decrease in the currency, the circnlating medium of the 

for our own product, by which we might escape a resort to the public country, I think is not true. 

m arket as a measure of silver. But the Senator from Nevada still ad- I have seen no returns for the past few months; but a few months 

h eres t o the market. I had hoped that at some measure between par ago I 1."UOW that it was not true, but that on the other hand there bad 

and 75 per cent. we migh t give to our silver a xecognition of free coin- been an absolute increase in the volume of our circulating medium. 

age here at a measure say of 87t cents, and which would be a move- Possibly there may have been some diminution since the last statement 

ment towards elevating the value of our silver and of forcing upon which I saw, but I apprehend that when the facts are brought to our 

E urope t he necessity of looking out for a disastrous effect upon its own knowledge, when the :figures are before us, as they are not now-no 

silver. one bas given any figures to-day- it will be found that there has been 

l\Ir. STEW ART. If you said silver should not go above a certain no actual decrea~e, that the coinage of the silver dollar has moxe than 

figure, then you would fix a new ratio. made up for the retil·ement of national-bank notes. Yet we are told 

Mr. EVARTS. I would attempt to deal with the problem as a wise to-day that there has been SllCh contraction that prosperity has gone, 

physician or surgeon would, by such prudent remedies as the condition that ruin stares us in the face. 

of the patient seemeq to require. If be had but one leg, I would try Mr. President, if we should believe aU that bas been said within-the 

to fix up the other. last half hour we should believe that this was not a prosperous counMr. STEW ART. So would I; and not cut off the head at once. try, that it was a country from which prosperity bad fled. We were 

Mr. EVARTS. I was talking oflegs, not heads. Let us stick to told by the Senator from Nevada within the last five minutes that in 

the metaphor. the past ten years there had been no prosperity in the world except in 

Now, a grave discussion on a proposition of tha.t kind would be nee- India. 

essary before the public mind, before the Senate, before the House of Mr. STEWART. Oh, no. 

Representatives could wisely undertake such a measure. This pend- l\Ir. PLATT. The RECORD will show what the language of the Scning (lroposition exposes us as now proposed to a. combination on the ator was. He said there was no prosperity in the world except in Inpart of all those who have silver to part with at a better rate than they dia, where silver was used. 1-:!r. President, has not this country beeu can get otherwise, to raid the market of silver in the city of New York prosperous for the last ten years? Has there ever been such prosperity 

for the purposes of an avernge to be made. But the principal, and I on the face ofthe earth as this conntr~ has enjoyed in the last ten years? 

suppose final, answer t o the adoption of this measure as an amendment Why should it be thought necessary to nm down our own country in 

to a necessary bill, with which it has no connection, is reason enough order to pass an amendment of this sort? WhateYer may be in quesfor voting against it. tion as to whether there bas been contraction or not, if this amendment 

Now, if the Finance Committee, against whose slownes.:; of movement shoulu pass we should ha,ve unlimited inflation. No man c..1>u now comthe Senator from Nevada has spoken, will meditate on what is the best pnte the amount of inflation which would occur under this measure. 

measure forward towards our financial aim in rehabilitating silver, I The Senator from Nevada asks me why? I will endeavor to answer 

certainly shall give it a candid support with a readiness to go as far as him. If I undexstand the reason for the decline of silver, when you 

the farthest in what may be rational and involving no menace of too have taken out all other element3 that enter the determination of that 

rapid and serious ~nterference with the basis of things now existing. question, silver has declined as all othex things decline, because there 

Mr. STE'V ART. I think there is a misapprehension as to the ) bas been an overproduction of i~ in the world, because there bas been 

amendment that is before the Senate. The amendment as printed bas more sil ve:r than was required for coinage and other uses, including manbeen very much changed, and for the infoxmation of the Senate I should ufacturing and the arts, more than the people desired to use. That 

like to have it rereau, that Senators may know just what it is. bas been the reasonfor the decline in silver. Other things I know have 

Mr. PLATT. I shall be glad to have it read. entered in, but that universal Jaw of supply and demand bas not been 

The PRESIDENT pro tempore. The amend~ent will be read. without its effect upon the decline in silvex. 

The CHIEli' CLERK. It is proposed to add as new sections: What does this amendment propose to do? It proposes that there 

SEc.-. That any person may deposit at any mint or assay office of the United 

States either gold or sih·er bullion, or both, in quantHies of not less than five ounces of ~old or eighty ounces of silver, and demand and receive coin certificates therefor. 'l'he p:·ice to be paid for gold bu.llion, in exchange for certificates, shall be at the rate of $1 for 25.8 grains of gold, nine-tenths fine; the price to be 

paid forsih-er buWon, in exchange for certificates. shall be stated by the ecretary of the Treasury on the lstand 15th day of each calendar montll, and when either 

of these days shall foil on Sunday, or any other holiday, such statement sh::tll b e made on the following secular day, and the price so stated shall be equal to the average quotations ofsil ver in tL1e New York City market dUI·ing the fifteen days next preceding such statement: Provided, That the price stated by the Secretary of the Treasury shall not exceed l for 412t grains of silver, nine-tenths fine. 

Bullion below the standard Yalue deposited under the provisions of this section 

may be reduced to the required fineness at the several mints and n."say offices 

of the United States, under regulations prescribed by the Sec1·etary oftbe Treas- ury, at the same cost to the depositor as is now charged for reducinoo gold bull- ion to l.he standard required for coinage. - "' 

SEc. - . The coin certificates issued under the provisions of this act shall be of 

such <l.enominations as the Sect·etary of the Treasury shall prescribe: Provided, 

shall be no overproduction of silver in the world. 

:Mr. JONES, of Nevada. I wish to ask the Senator a question. If 

there has been such a great overproduction of silver ip. the world, and 

tbe cause for its decline, as the Senator bas stated, is this overproduction, if the uses for it did not demand the whole of it, why is it that 

the same amount of silver will buy more of land and labor and all the 

commodities that enter into our daily life tba.n it would before its demonetization? 

1\Ir. PLATT. I am not going into that question. I am going to st.'llld 

by this uutil somebody shows me that I am wrong, that silver has declined because there has been more produced of it than could be coined 

under the demonetization of silver in Europe, under our laws for coirrage, and than could be used in the arts and manufactures. In other 

words, more silver was produced tha.n there was use for. I think that 

will not be denied. 
' 

1888. CONGRESSIONAL RECORD-SENATE. 2407 

Mr. TEL LEn. I should like to say that I will take occasion to. deny 

it if I can get the floor, and I think I can show that there is not the 

slightest foundation for that sta,tement. · 

Mr. PLATT. Very well. If that be true, silver is di:;.ent from 

any other commodity on earth. When there is a full demand for a 

commodity the price increases; when there is not a suffici~nt ~ema.nd 

for the production the price decreases; and I shall look w1th mterest 

to fact-s and :figures which 0\erthrow this universal l-aw with regard to 

prices. But I was going to remark that if this bill passes the Senator from 

Nevada may well Sfl.Y there will be prosperity. There will, but it will 

be the prosperity which comes with inflation, to be followed at last by 

worse adversity. The history of t he world has shown that wbe:n a 

government begins, upon the demand for more money, to increase its 

paper money, there is no end to that increase and inflation except absolute bankruptcy and :financial ruin. 

To be sure this is not exactly the inflation of a meTe paper currency, 

but it is an i'nflation which no man knows where it wiU stop. And 

why? Because if there be not now an o~erprod'!ction of silver in t~e 

world there will be an increased produchon of silver the moment this 

measC:re goes into operation. When any man owning a silver mine 

knows that he can take all his snrplus silver to the United States Government and receive for it coin certificates, the business will be good 

and it will be pursued with renewed and redoubled energy, and the 

production will be increased. 

I heard the Senator from Nevada say solto 1:oce that this bill would 

put silver at pn:r. And ~vhy ~ Because it will furnish a custom.er for all 

the silver that can hemmed m tbewboleworld. And whatwill be the 

effect of that? Simply that mining will be more profitable, will attract 

new capital, will enlist new enterprise, and the more it is produced the 

more the Government musttakeofit andissne the coin certificates there 

for and this not only in the United States but throughout the world. 

Tb1ere is nothing to prevent the bringing of silver to this country, and 

there is nothing to prevent any f(rreigner, anybot1y on the whole face of 

the wide globe, from bringing all his surplus silver to the Treasury of the 

United States and taking the coin certificates of this Government for it. 

The very :first words in the amendment-and they have not been 

changed-are that "any person," no matter whether he is mining silver 

in South America, Mexico, in Canada, in the Himalaya Mountains, can brin..., his silver in bullion to the United States Treasury and take coin 

certilicates therefor. If the mining of silver is profitable now when 

silver is worth 70 cents on the gold dollar, will it not be very mnch more 

profitable when, by reason of having a market for every ounce of silver 

that can be mined in the whole globe- will it notbesomuch more profitable that the output of sUver will be immensely increased? And that 

process is to go on? The Go•ernment is to take all the sm-plus silv~r 

there is now, be it $5,000,000 or $50,000,000, and when that is gone It 

is to take all that can be produced in the future. Mr. President, while I would be entirely willing to consider the question of whether we ha\e circulation enough now, whether our circulating medium is sufficient for our wants, and to adopt wise measures to 

increase that circulatiOn if it be not sufficient for our wants, I am tillwilling to enter upon any snch unexplored sea. as this proposed increase 

of our circulat ing medium. 

I reO'ret M:r. President, that a measure of this importattce should 

have been' thus snddenlythrust upon the Senate-all the surplus silver 

of the world to be issued in coin certificates of the United States, and 

the coinage of gold and sil\er to cease except as the Secretary of the 

Treasury may order it to be done. I think that is in the amendment. 

'· rTo gold or silver sh1all be hereafter coined"--

Mr. STEW AHT. That is not the amendment. 

Mr. PLATT. "Except what may be n ecessary in payment of the 

obligations of tbe United States exp~ssly made payable in coin," etc. 

The Senator says that has been stncken out. 

};fr. STEW ART. That is not the amendment. It is anothe1· amendment. 

Mr. PLATT. It was the amendment which the Senator proposed 

to o1l'cr. If in this respect at lea t be has seen the unwisdom of his 

proposition and withdraw,n that portion of his amendment, I am thankful for it. 

Mr. BECK. - Mr. President--

1\Ir. HARRIS. As the whole financial question bus been precipit ated upon ns in debate, I hardly think tbe Senate will find it conYenient t o continue the discussion longer to-day. In view of this fact 

I move t hat t he Senate do now proceed to the consideration of executive b usiness. 

• Mr. STEWART. I ask for an orderthatt e amendment be printed 

as modified. 

The PRE IDE~ p l'o tcmpol'e. That order will be made if there be 

no objection. Before putting the que ·tion on the motion of the Senator from Tennessee t he Chair will la.y before the Senate sundry bills 

from the House of Representatives for reference. 

severally read twice by their titles, an<f referred to the Committee on 

the Judiciary: 

A bill {H. R. 1874) to change the eastern and northern judicial districts of Texas, and for other purposes; 

A bill {H. R. 4948) to amend section 988 of the Revised Statutes, 

regulating stays on executions in courts of the United States; 

A. bill (H. R. 8180) to r egulate the liens of judgments and decrees 

of the courts of the United States: and • 

A bill (H. R. 8808) to amend an act entitled "An act to provide for 

holding terms of United States courts at Vicksburg, 1\Ii.ss." 

CLAIMS UNDER EIGIIT-HOUR LAW. 

.Mr. DAWES submitted the following resoll;ltion; which was considered by unanimous consent, and agreed to: 

R esoh,•ed, That the Secretary of the Treasury be directed to communicate to the Senate in detail and by the ditl'e r ent classes therein named the amount al- lowed and dieallowed of accounts for services of laborers, workmen, and me- chanics under the second section of chapter 172 of the statutes of 1872, making appropriations to supply deficiencies, elc., and for other purposes. 

PUJ>LIC BUILDING AT CHARLOTTE, N . C. 

:Mr. SPOONER. I ask the Senator from Tennessee to yield to permit me to ask unanimous consent to call up a public-building bill 

which I think will elicit no discussion. 

Ur. HARRIS. If the Senator can obtain unanimous consent, I shall 

not object. 

Mr. SPOONER. I ask unanimous consent to proceed to the consideration of Calendar No. 408, being Senate bill 907, to provide for the erection of a public building at Charlotte, N. C. 

l\lr. VANCE. I hope the Senate will proceed to the consideration of that bill. 

By unanimous consent the bill (S. 907) to provide for the erection 

of a public building at Charlotte, N. C. , was considered as in Com- mittee of the Whole . . 

The bill was reported from the Committee on Public Buildings and 

Grounds with amendments, in section 1, line 3, after the word "o.t~" t o 

strike out" two hundred" and insert" one hundred and seventy-five;" 

in line 12, after the word "of," to strike out "two hundred 11 and in! 

sert 1

' one b nndred and seventy-:five; '' in line 15, after the word '' of,' ' 

to strike out " two hundred" and insert "one hundred and seventyfive; 11 and in line 19, after the word " alleys," to insert: 

And that no money appropriated for this purpose shall be available until a. . valid title to the site to said building Phall be vested in the United States, nor until the State of North Carolina shall ha>e ceded to the United States exclusive 

jurisdiction over the same during the time the United States shall be or remain 

the owner thereof, for all purposes except the administration of the criminal 

laws of said State and the service of cidl process therein. 'l.'he Secretary of the 

Treasury may acquire said site by purchase, or by condemnation proceedings in the name of the United States. 

So as to read: 

Tlfttt the sum of $175-,000 be, and the same is hereby, appropriated, out of any moneys in the Treasury not otherwise appropriat-ed, for the purpose of erecting a United States court-house and post-office in the city of Charlotte, N. C., to be 

expended under the direction of the Supet·vising Architect of the Treasury De- partment. The site, and building thereon, when completed upon plans and 

specifications to be previously made and appro...-ed by the Secretary of the Treas- ury, shall not exceed in cost the sum of ,.175,000; and no plan for said building shall be approved by the Secretary of ibe Treas;ury involving an expenditure exceeding the said sum of $175,000 for said builcling; and the site shalllea.ve the 

building unexposed to danger from fire by an open space of at least 40 feet, including streets and alleys. And that no money appropriated for this purpose shall be available until a valid title to the site to said building shall be vested in 

the United States, nor until the State of North. Carolina shall have ceded to the 

United States exclusive jurisdiction over the same, during the time the United ·states shall be or remain the owner thereof, for all purposes except the admin- istration of the criminal laws of said State and the service of civil process therein. The Secretary of the Treasury may acquire said site by ptuchuse, or by con- dem.nalion proceedings in the name of the United States. 

The amendments were agreed to. 

Mr. SPOONER. I offer the following amendment: .After the word '

1 of,'' in the sixth line, insert: 

Purchasing or acquiring by condemnation proceedings or otherwise a site antl of. 

The amendment was agreed to. 

Mr. SPOONER. Also afte1· the word "erecting," in the sixth line, I move to insert the word ' ' thereon.'' 

The amendment was. agreed to. 

l\fr. SPOONER. I move to strike ontall after the word 1 ' T1·easm·y," 

in the hyenty-seventh line, and insert: 

If in his judgment the public interest will be better subsen·ed, m ay direct the 

loca tion of said building Oll ground belonging to the United States situated in 

said city, a. part of which is now occupied b! tbe United States mint. 

The amendment was agreed to. 

The bill was reported to the Senate u.s amended, and the amendments 

were concurred in. 

The bill was ordered to be engrossed for a third reading, read the 

third time, and passed. · 

ENROLLED BILLS SIGNED. 

JIOUSE BILLS REF ERRED. A message from the House of Representatives, by J.Ir. CLARK, i ts 

The following bills, received from the House of Representatives, were Clerk, announce(!. that the Speaker of the House had signed the follow-

-
2408 CONGRESSIONAL RECORD-HOUSE. MAROH 26, 

"ing enrolled bills; and they were thereupon signed by the President 

pro tempore: 

A bill (H. R. 1528) to reward the Esquimaux natives of the Asiatic 

coast of the Arctic Ocean for acts of humanity to shipwrecked seamen; 

A bill (H. R. 1589) to provideior holdingtermsofthe UnitedStates 

courts at Mississippi City; 

A bill (H. R. 5373) to change the location of a certain alley in the 

city ofWashington; and • A bill (H. R. 5723) to amend section 461 of the Revised Statutes, reguln.ting fees for exemplifications of land patents, and for other purposes. 

EXECUTIVE SESSION. 

· Mr. HARRIS. I move that the Senate proceed to the consideration 

of executive business. 

The PRESIDENT pro tempore. The Chair first lays before the Senate the unfinished business, being the bill (H. H. 5034) to provide for 

the pnrcbuse of United States bonds by the Secretary of the Treasury. 

The Senator from Tennessee moves that the Senate proceed to the consideration of executi...-e business. 

The motion was agreed to; and the Senate proceeded to the consideration of execul.ive business. After seven minutes spent in executive 

session the doors were reopened, and (at4o'clockand 53 minutes p. m.) 

the Senate· adjourned until to-morrow, Tuesday, March 27, 1888, at 12 

o'clock m. 

NO~HNATIONS. 

Executive nominations receivecl by the Senate the 26tlt day of JJfarcl~, 1888. 

RECEIVERS OF PUBLIC 1\IONEYS. 

E. Nelson Fitch, of-Ludington, Mich., to be receiver of public moneys 

at Grayling (formerly Reed City), Mich., vice William H. C. Mitchell, 

term expired. 

1\Ir. Fitch was nominated to the Senate January 4, 1888, to be receiver of public moneys at Reed City, and so confirmed. Said office bas 

been removed to Grayling. 

Francis T. Anderson, of Del Norte, Colo., to be receiver of public 

t;loneys at Del Norte, Colo., vice Charles A. Coryell, resigned. 

REGISTER OF LAND OFFICE. 

J. H. Woodworth, ofWaupaea, Wis., to be register of the land office 

at :Menasha, Wis., vice Henry Cornelius, deceased. 

INDIAN AGENT. 

Thomas McCunni:ff, of Alamosa, Colo., to be agent for the Indians of 

the Southern Ute agency in Colorado, vice Christian F. Stollsteimer, 

removed. 

CHIEF OF BUREAU OF MEDICINE .AND SURGERY. 

John M:. Browne, medical director, to be Surgeon-General and Chief 

of the Bureau of Medicine and Surgery in the Department ofthe Navy, 

with the relative rank of commodore, to fill a vacancy arising from-the 

expiration of the term of office of the present incumbent, which occurs 

March 27, 1888. 

POSTMASTERS. 

Stephen W. Coffman, to be postmaster at Watsonville, in the county 

of Santa Cruz and State of California, in the place ·of George B. Card, 

whose commi3sion expired March 24, 1888. 

Deuton E. Bingham, to be postmaster at Sout.hington, in the oounty 

of Hartford and State of Connecticut, in the place of John Hemingway, whose commission expires April 2, 1888. 

Nicholas Morper, to be postmaster at South Evanston, in the county 

of Cook and State of Illinois, in the place of Nicholas Morper, whose 

commission e1..-pires AprilS, 1888. 

John H. Andrick, to be postmaster at McGregor, in the county of 

Clayton and State of Iowa, in the place of RudolphusHubbard, whose 

commission expires .April23, 1888. . William E. Hottman, to be postmaster at Ellinwood, in the county 

of Barton and St..1.te of Kansas, the appointment of a postmaster for 

the said office having, by law, become vested in the President from and 

after Oetober 1, 1887. . C. W. Richardson, to be postmaster at Somerset, in the county of 

Pulaski and State of Kentucky, in the place of John Inman, whose commission expires April 30, 1 88. 

Henry C. Norton, to be postmaster at Cottage City, in the county of 

Dukes and State of Massachusetts, in the place of Francis P. Vincent, 

whose commission expires April 9, 1888. 

Josiah D. Richards, to be postmaster at North Attleborough, in the 

county of Bristol and State of Massachusetts, in the place of Burrill 

Porter, jr., whose commission expires April 8, 1888. 

Paul W. Grier,pon, to be postmaster at Calumet, in the county of Hou~hton and State of Michigan, in the place of Albert T. Streeter, 

who e commission expires April 15, 1888. Amos Cogswell, to be postmaster at Owatonna, in the county of Steele 

and State of Minnesota, in the place of Lewis L. Wheelock, whose commission expired March 12, 188 . · James C. Frost, to be postmaster at Anoka, in the county of .Anoka 

and State of Minnesota, in the place of James A. Foote, whose commission expires April 8, 1888. 

M.D. L. Martin, to be postmaster at Water Valley, in the county of 

Yalabusha and State of Mississippi, in the place of William H. Brister, 

resigned. 

Barton ,uiorrow, to be postmaster at Neosho, in the county of Newton and Si!!e of Missouri, in the place of Hugh C. Armstrong, deceased. 

James D. Hubble, to be postmaster at Fairbury, in the county of JefferSon and State of Nebraska, in the place of Robert B. Wallace, whose 

commission expires April 9, 1888. 

Warren Clark, to be postmaster at Concord, in the county of Merrimack and State of New Hampshire, in the place of George W. Crockett, 

deceased. 

William F. Jones, to be postmaster at Eaton, in tlle county of Preble 

and. State of Ohio, in the place of Benjamin Neal, removed. 

Allen G. Sprankle, to be postmaster at Millersburgh, in the county 

of Holmes and State of Ohio, in the place of Ni va Huston, whose commission expired March 12, 1888. 

William A. Sterling, to be postmaster at Shamokin, in the county 

Northumberland and State of Pennsylvania, in the place of Darius S. 

Gilger, whose commission expired January 24, 1888. 

J ohu T. Williamson, to be postmaster at Columbia, in the county of 

Maury and State of Tennessee, in the place of Hugh F . Fariss; whose 

commission expires Apl"il15, 1888. 

Thomas Francis Meagher, t-o be postmaster at Sprague, iu the county 

of Lincoln and· Territory of Washington, in the place of John J. Burns, 

whose commissi<>n expires April14, 1888. . James Tiernan, to be postmaster at Fort Howard, in the county of 

Brown and State of Wisconsin, in the place of Peter V. Cottrell, deceased. 

CONFIRMATIONS. 

Executive no:ninati011s confir·med by tl~e Senate Ma1·ch 20, 1888. 

UNITED STATES CONSUL. 

Frederick W. L. Butterfield, of New York City, to be consul of the 

United States at Ghent. 

POST11IASTERS. 

J. Henry Browne, to be postmaster at Tompkinsville, in the county 

of Richmond and State of New York. 

John J. Stitt, to be postmaster at Sharon, in the county of Mercer 

and State of Pennsylvania. 

Eben H. Clark, to be postmaster at Honesdale, in the county of 

Wayne and State of Pennsylvania. 

John F. Cashen, to be postmaster at New Rochelle, in the county of 

Westchester and State of New York. 

John McLaury, to be postmaster at Belleville, in the county of Re· 

public and State of Kansas. • 

Executive 1wminations confirmed by the Senate llfarch 26, 1888. 

COMMISSIONER OF LAND OFFICE. 

Strother M •. Sto<:!kslager, to be Commissioner of the General Land. 

Office. · ASSISTANT COl\Il\IISSIONER OF LAND OFFICE. 

Thomas J. AndeTson, of Iowa, to be assistant :commissioner of the 

General Land Office. 

REFINER OF THE 1\IINT. 

John H. Dennis, of Nevada, to be melter and refiner of the United 

States mint at Carson, Nev. 

HOUSE OF REPRESENTA'l'IVES. 

1\foNDAY, Ma1·oh 2G, 1888. 

The House met at 12 o'clock m. Prayer by. Rev. J. H. CUTIIBERT, D. 

D., of Washington. 

The Journal of the proceedings of Saturday was read and approved. 

LEAVE OF ABSENCE. 

By unanimous consent, leave of absence was granted as follows: 

To Mt·. ANDERSON, of Mississippi, for two days, on account of sickness in his family. 

To M:r. WILKINS, for ten days, on account of bu iness. 

To Mr. SIMMONS, for six:· days, on account of important business. 

FUNERAL CERE:\fONIJj:S OF CHIEF-JUSTICE WAITE. 

Mr. GROSVENOR, by unanimous consent, offered the following res· 

olutions: 

Resolved, That the funeral.ceremonies o~ the lnte Chief-Justice ·waite be held in the Ha.ll of the House of Representatives on Wednesday, .March 28, at 12 o'clock noon, under the arrangement of the Supreme Court, a.nd tbnt when the House adjourns on the 27th instant it shall be until 11.30 a.. m. March 28. Resolt;ed, That the Clerk of this House notify the Senate and the Supreme Court of the passage of these resolutions. 

T!le resolutions were adopted. 

BUSINESS FROJII THE COIDHTTEE ON COM~IERCE . 

. l\1r. CLA.RDY. Mr. Speaker, Tuesday and Wednesday of this week 

hn.>e been set apart for the consideration of bills reported by the Com-