Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-01-25

! American currency, and that metal shall be
silver, and say with all respect to my friend
from Tennessee Bailey that if the fnanciers
of Germany and England had combined to-
| gether to devise scheme to drive the currency
of silver from the markets of Europe forever
and establish silver recommendation in this
country, they could not have invented one that
would be more efficient than that which has
been reported by the committee, unless it is
the one for which it is substituted.
Senator Lamar cited various authorities in
support Of his views and said: I consider. the
whole thing, in arraying authorities in favor of
blmetalllc system, this point, showing
that the effect of such legislation as is here
proposed will consolidate the currency Of all
Europe upon the gold basis and remand Amer
lea to the Asiatic mode and that of the poorer
countries Of Europe that condemned by
their very necessities to receive the rejected
coin OF the great commercial nations. do not
say this in any spirit Of hostility to the resto-
ration Of silver but the fact is true that that
metal occupies subordinate position in the
currency Of the ruling nations of the European
continent 1t is demonetized practically
among two hundred and fifty millions of the
population of the globe; that is, it is entirely
demonetized legal tender il England and
Germany. This coinage has been arrested in
the Latin Union and it is demonetized in the
United States. Silver cannot go into France to
be coined and the five franc piece, which is the
only silver coin that is a full legal tender
there, is very scarce at this time in
France. How came France to stop the coinage
of silver and partially demonetize that metal
within her limits? France was not an empire
at the time she did that That same furnace
Of war which fused the German confederation
into one empire simply melted off the imperial
ism Of France and brought out her pure and
unalloyed republicanism, and when she be-
came republic and when Germany flung her
decentralization Of silver at her, the proud
young republic flung it back in disdain and
performed financial manoevre which gave her
greater financial success over her naughty
rival than that rival had won over her in the
ruder game of war. 1t was not following her
example, but it was meeting the financial step
Germany made by her demonstration of silver
with measure of a like character.
Lamar made feeling illusions to Southern
Senators of the past-Hunter, Mason, Slidell
Benjamin, Toombs and Brown, and without
mentioning his name, to Jefferson Davis, and said
Mr.. President, we the SUCCESSORS of those men,
are here to-day by policy which is note
worthy fact in the 10Th century. We have
come to mingle with representatives from the
States of this Union in one common council for
no longer representatives of capital
of the South. We come not as the allies of
laboring men of the north, but as laborers our
selves, every one of us and all of our constitu-
ents, taught the stern lesson of necessity, of
earning our subsistence by the sweat of our face
changed as to the necessity of the laboring
class being protected in all their rights and
in all their interests, for When they sink the
social fabric ofsociety must sink and crumble
with them, but we come believing they
are honest, that they are patient, they
are self-reliant and true to their obligations.
That what is their duty they will feel it as to
their interest to do. We have differed on this
great question, but of one thing the world may
be assured that no southern Senator represent
ing southern people will give vote on the one
side or the other which is not designed to pro-
tect the laboring classes of this country alike
with its capital or on the other hand that will
not preserve untarnished the sacred honor of
America. applause in the galleries.)
MIR. CoNKL1NG.
The question being the amendment of
Senator Conkling to make the resolution Joint
instead of q concurrent one, Mr.. Conkling
spoke briefly in favor of that amendment, and
said as the constitution of the United States
deposited with the President one-sixth of the
whole law-making power of the government,
he thought it should have the sanction of the
executive we'll as Of the two houses of Con-
gress.
Senator Thurman opposed the amendment
and said there were certain matters which could
properly be noted by the concurrent resolu-
declaration of opinion by the two houses
of Congress, when they might deem such
declaration proper. 1t was not his purpose to
speak upon the silver question until the bill
itself should come before the Senate, but there
was one thing to which he desired to refer.
Senator after Senator had declared that the act
of 1873 demonetized the silver dollar. It does
no such thing. The silver dollar was demone-
tized by the revised statutes, but they were not
intended to change any existing law. They
were simply compilation of the laws as they
existed at the date of the adoption of the sta
t1to Tho ell f}r,10o Of
full legal tender for all purposes, and had not
been legally demonetized. The argument
had been made that silver dollars
were not in existence at that time,
and therefore the bondholders did not expect
to be paid in silver. As we'll might such an
argument be made against gold, because there
was but little of that coin in use. The coinage
act of 1873 was step in the direction of de-
monetizing silver, but it was not actually de-
monetized until the adoption of the revised
statutes in 1874. 1t had been argued that in
Justice would be done to those who purchased
the bonds since 1878 if the government should
pay its bonds in silver; but he, Thurman. would
endeavor to show, when the bill itself should
come up for consideration, that the payment of
the bonds in silver would not do injustice to
any one.
MIR. HERMAN.
Senator Herman said it had been argued that
our bonds were held by those who were wealthy
He made no distinction on account of wealth.
Every man in this country should have equal
protection before the law, be he poor or rich.
He, Herman, denied, however, that the bonds
were held by the rich. The report of the SUI
perintendent of the bank department of New
York for 1877 showed that the class of banks
which were trustees of those who had small
savings held about one-twentieth of all bonds
| issued by the government. The bonds were
held by all classes Of our citizens.
CoLLoQUIA.
Senator Thurman said he had never indn(ped
IN any remarks as to who held the government
bonds. No matter who held them they had
the right to be paid. He argued that the re-
monetization Of silver would place it side by
side with gold in less than twenty-five hours
and no injustice would be done to any one
The debate wss continued in a colloquial
manner by Senators Edmunds, Thurman and
Herman, and the Senate on motion of Senator
Davis, Of Illinois, adjourned.
House of Representatives.
WASHINGTON, Jan. 24.-The House proceeded
to consideration of the bill amending the laws
concerning commerce and navigation and the
REGULATION OF STEAM VESSELS.
Mr.. Townsend moved tostrike out the section
which provides that whenever damage is sus-
tanned by any passenger on steam vessel,
through fire, explosion or other causes, such
casualty occurring without fault or knowledge
of the owner of the vessel, he shall only be liable
to the extent of his interest in such vessel.
MIR. Townsend said under that section he might
be roasted alive on the Hudson river on steam
boat owned by Vanderbilt, who was worth his
millions, and yet that gentleman could only be
| held liable to the extent of the value of the
hull.
MI. Beebe offered an amendment providing
that any person sustaining loss through the
carelessness or wilful misconduct Of the mate,