New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-01-23
A DEBATE ON SILVER.

SPEECH.
IrRoM TIE REGULAR CORRESPONDENT TIE TRBUNE.l
! ALBANY, Jan. 22.-Mr. SINNERS resolution
condemning the Bland Silver Bill which passed tho As
sembly several days ago. by vote Of 105 to 15 was
called up in the Senate to-day by Senator Turner
long debate but not credtable to the State of New
York. and unfortunate. view OF the impression 1t
might make at Washington. followed. The principal
speech was made by an advocate of the Bland Bill.
Senator Turner after calling up the resolution made an
excellent little speech in favor OF its passage
and then took his seat under the ap-
parent impression that nothing more concerning
it would he said by anybody Senator Wendo9o
however had written out speech of the same tenor
which he read in such naudble tone OF voice that
during the ten minutes of its delivery 1t Is doubtful
whether than the Senators seated on either EIDE OF
him heard the beginning and ending of sentence. The
Senate BY tho conclusion o. this public IaainC was
almost asleep. and Lieutenant Governor Dorshener
had drowsily announced that vote on The
resolution was about TO be taken, when Sen
aor Sessions offered an amendment 20 H.
which IL adopted would reverse is meaning.
The advocate unlimited silver had his deak heaped
high with law books pamphlets and documents; but
that the senators might be frightened he Informed
them that he intended to MAZE only short speech The
speech lasted, however nearly half an hour During
that time he made all the welkn0wn arguments in favor
OF the reconciliation OF the 412lc gains silver dollar.
and argued favor of making it an unlimited
legal-tender anu paying the United States bonds
in silver This speech listened TO patiently 6y thc
Senate and concluded no Senator-aithough
all probably, with the exception Of senator SessOis are
in favor OF the or2na soluti0n,at leaped 10 IT,
defence. Seeing ti- Senator Turner undertook 10 an
swer Senator Sessions but not being crammcd IA .he lat
fer wasyith statistics and sOphistcal arguments was
worsted in running debate that followed Finally.
Senator Jacobs said that it pain that the friends OF
the resolution had been thrown o confusion hy ttc RI
riment OF Senator Sessions and moved that al turtle:
tI,a nIttfio ha
next.
Senator Turner said Believing that the resolution
expresses the of the people Of NewYork ana the
financial Interest will be damaged and that the people
do not sanction the debasenent OF currency or the
attempt TO repudiate obligations and njure the
public credit, I ask the Senate 10 pass TINS
resolution" Senator Mccarthy strongly opposing
ANY postpOnment OF action on the resolution
senator Jacobs then moved that both resolution and
amendment be tabled give opportunity TO have
them both printed sscycntcen Senators voting in favor
of the motion and only against il, was declared
adopted. Below Will be found sketch of the debate
Mr. Wendover argued in favor Of tho resolution.
Mr. Sessions offered the following amendment to Mr.
Turner'S resolution pubiahed January II, 10 strike out
all after the words, al tho Senate concur and insert
the following:
That 1t is the sense Of this legislature all the bonds
OF the United states authorized 10 be issued by Act %
July i. 1870. declared To be fdeeane ID com "
the then present standard value and ms tho then present
the standard dollar OF silver vas 4l2ls grns Troy
STANDARD silver as Poyded by Act @t ng g,T
nary II, 1875, authorized ne Secretary Of ne
T Fenadng Act Of t' July $50 and The
thereof FOR the purpose Of resumlng specie payment y
eon ana nq n sGd Iang" inc ia T..B rS I Of S2e
coin OBLIGATIONS OF the Government III g'4d ahH
silyor win the UNLIMITED locaitoEd'r G1u-e
restored 10 be made in fun equivalent Of gold: that
auy violation 81 the public .a.h would " injurious
IN, n5nniry: that any debasenen the currency
settles business. disorsan,zes intu.try enn m9 nv h
tie Congress OF the TINTED states cacna;cd to iIeht
fixed by law would be great public calamity
He then said: cannot give my consent to the adop
ton OF the resolution without putting IN M protest
believe that before Constitution was adopted that
gold and silver had been lega;ender always nj COM
mon law believe that the writers Oi the Constitution
intended we should have aese two standards and an u
limited silver currency had the honor dishou"r,
cordpg 10 the EeHYOrk papers OF introducing bill hore
for thr repeal state law making goc ths Only ie
mi tender In this state. Congress has also passed
characterization act, robbing silver OF is es-'ehdef
qnarty What the necessltyi On the surface tIc
bin cas pit forward by Controller Knox be ier. wax
ne only clay the HANDS OF the potter ana W. rue
nwardiess OF il was not lscIo.ed uni iaHr me
! dollar was then worth more than gold WHAT ."s Ia.
objects believe tat the object o. me Geh0heT"m
will be disclosed IN oohlhg al ele a"s I ,I
| TO the bonds. The object was 70 picVrut u,e
R,y az az W o as IN GOD The BUYERS Of the bonds
made large prof;s by buying them They cannot say
mat We act ows g s na an a so n" In T.. uca
states sosinnly pledged it, word t r II T"unu
| repay its creditors In "eoin.' IhG ccu,'o.S
4 now say because we passed the DcnIoneiIz1-
| ton Act that they must be paid IN goa. Inc
! debased silver currency was thought Guti, chohgh
currency. but ~ - not sood enough
! IN redeem The bonded debt Tire Resumption Act dOcs
mo-, mention cold-says coin" 1t was not nfehded 10
resume specie payments In gold alone; fcoplc gay u
double standard Impossible, but We had dounc siu
ard from 1888 till 1860 end We had 10 trouDIc ib'y
cav also those nations prosper which use soId duu
argue that should gold alone Inc nations ih"t
have tried 70 resume in gold alone have suffered LOOK
AT England after 1920. am no reputation Dut pc
nryp flat nations shOu fulfil their 0blslons 10 the ic
Ter have not the least doubt that The Bland SILVER DOL
~. ,hnngh only worth g2le cents gold now, would get
ncL 10 the value IN gold II held when IL was uenohe-
tIzrd il YOU give it the cgsl-tender power
Senator Turner-I trust that Mr. ressOnss amend.
mont viii not prevail | care not Tor the ar9uhicn,
ahot chewing the letter OF the law The senator "ou
lem In ,lpy that the bonds are held only by cata-s
abroad and at home. would ask Mr. SESSIONS 10 prove
,hat nnr i1nuds ever at 80 cents on the dollar
senator sessions here quoted Treasury department
report A.. ...o,. 81, o,..,Iir, an hono.t
contract | see that savings banks OF 4scW-ioik
have 600 900 Of bonds, the property OF OiVVo 1
uOsitnrs When YOU deprccatc thesc secultils 20 ~
cents Won inure those dcpohnrs 20 lar hs th
Inc people OF ths state opposed 10 an FORMS oi t
basing the currency They arc opposed "a paving nc
worIug men in dollars with 90 cents lhe Passh2t Oh
Inc Bland B would put in perm VITAL interests "' Hc'N
OF ibis state and other states ,,
The resolution aud substitute were then tGb!ed.