The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-01-24

gress and said 1t was clearly understood He argued
that the silver dollar was dcmonctized because II was
worth three AMI onehalf cents than the gold dol
lar and would not remain In the country He believed
double standard was not only detrimental TO the Pov
eminent. but In itself substantially impracticabe
The nations Of highest civilization those with which
our Affairs are the largest have either adopted tho
to amount to about the same thing. We could
not take East Indians ana Chinese for our guides IN
finance.
He next discussed the power OF Congress to coin
money and uate its value, and, referring TO repu-
citation, said he believed there no purpose upon
the part Of the people al large to 40 aught that would
lay them open to just charge OF reputation. He
spoke OF his deadly hatred Of that crime and said no
dad not question that all honorable men hatod It. IT,
IN passing bills remonotize silver we are adjudced
by the broad world from whom much OF our capital has
heretofore como and must hereafter largely come,
guilty OF doubtful action regarding our oOlisstions
the penalty, whether rightiuIiy or wrongiuy In
ficted Will fall after NIL with moro distinct severity
upon private enterprise than upon public credit II
upon these the blight OF broken faith, real or implied
snail tall. then, indeed, will we have added tot cup
OF our present misortunes. He spoke from personal
Knowledge when he said that foreign and domestic
capital refuses to give American enterprise credit this
standard oil gold may safely enter upon competi-
ton IN all tho markets OF the world for this s tue
ono standard undisputed; with a double standard
hall the worlds markets nre hey ond our efforts.
INCONVENIENCE OF SILVER.
he tncn spoke OF the inconvenience Of silver IN
large amounts the cost oil transporting II, &c. He
had no sympathy for the money kings. but he would
cater TO no passing passion hurting epithets at any
class OF our fellow czens, though they have the
fortune TO be rich The capitalists were not bond
holders tho real older OF our government bonds
rarely the great capitalist TO INN the tcrcst is too
low even upon the best OF them. The registered
bonds OF the United States tell the story. Examine
the books and you will and the names Of executors
and guardians OF estatcs-not great cstatcs
but small ones; you VIII nnd tho names OF widows
whose slender means permit no hazard OF income
You viii rarely find largo amounts In any
ono name and still more rarely II at all
In the name OF Capitalists. These facts that
no rhetoric Will reiute In conclusion he argued that
government bonds were held by savings institutions
OF the country tb ose special repositories OF tho prov
aent poor. Lie insurance. companies, which were
among the most benehcent oil modern Institutions
had their reserve fund invested IN them The school
fund IN his own State was largely invested In govern
ment bonds. He believed that thrce-fourihs OF tho
government bonds wore in tho hands Of or held for
the bencdt Of the poor people.
Al tho conclusion OF Mr.. Randoph's remarks Mr..
Lamar, Of Mississippi, took the floor but yielded
Mr.. Ransom, OF North Carolina. Tor q motion for
executive session.
THE QUESTION OF A VOTE.
Mr. CoSKLING, lrcp) OF n. ~ SAID tho Senate should
have an Understanding as TO some time when vote
Mattnews) could DO taken. Tho mover Of the rcsou-
ton desired TO have vote as soon as possible, ana he
mr. Conkne) therefore suggested that some hour to-
morrow be liked for the vote
Mr. DAVIS, Und.) Of I'LL suggest three O'Clock.
Mr. MORRILL,, rep OF w., Inquired II the PROPOSE
tion included all the amendments.
Mr. CoyKLING replied IN The Affirmative.
MIR. MORRILL, said be would have to object, because
ais colleague (Mr. Edmunds, who was not now in Inc
chamber desired ~ speak upon his amendment Of
Tered some days ago, and he mr. MorrilD also de-
ed TO speak upon an amen dment submitted by him.
self for few minutes.
Mr.. CoSKLlNG said this, being mers preliminary
resolution not even aiming at tho character Of u
statute, was occupying q vast deal Of time. Here II
stood, blocking tho way OF legislation. with the silver
bill behind 1t, which he supposed would DO
sidered. All this debate would DO in order that
bill and unless the Senate should make agree.
ment an all night session might take place, which
could DO avoided
Mr. MKRRlMoN, (den.) of N. C., said there were four
or five gentlemen his side OF the chamber who de-
to speak, and he should regret to sec them cut
of by liking hour for vote to be taken. THIS
question Oi great magnitude and deserved all
the time and attention Il was receiving.
Mr. ALLISON said much OF the argument made the
resolution could be made OH The Silver BILL which
would come up next and he suggested that the Senate
vote OIL the resolution and pending amendments at
three O'CLOCK Friday afternoon.
Mr. BAYARD, OF Delaware, said much OF tho debate
the Silver bill had been anticipated In the debate
on resolution; stiiI he hoped there would be
haste IN hiking time ior u vote The two measures
were closely connected, and tho importance OF the
subject could not be overestimaed should debate on
TINS resolution be hastily terminated might be so
on the Silver bill A great deal mad been
sad chiefly on one side, and he favored The
Mr. THURMAN, OF OHIO, said he had said nothing on
this resolution, though he might have said somc-
thing because no entertained very clear convictions
that II contained nothing but the naked truth though
IL did embrace the whole subject. Congress had
boon In session three months and 1t was time 10 do
somcthing practical. 1T could not be determined
would be the law oil tho land in regard TO silver
until tho vote should be taken on the silver bill He
did not boieve tho fixing OF a time to vote on the
resolution would be cutting of any senator, because
the argument could be continued on the Silver bill
lie be!lcvod tho best interests OF the Whoe country
required the reconciliation OF silver and that all the
fears which had bccu expressed in regard thereto
were wholly imaginary. He favored the speedy set
Element oil the question.
Mr. BLAINE, (rep Of Me-, suggested that the Senator
from ohio (Mr Matthews) postpone his resolution
until alter the Silver bill Should DC acted upon. TnIs
resolution stood right the path OF practical log
lsEttion
Mr. MATTHEWS declined TO postpone his resolution.
Ito TO hayoa vote upon IL and willing
to undergo as much personal Inconvenience as any
other Senator He therefore gave notice tbat il the
majority OF the Senate would stand by him he pro.
posed TO have the SESSION continued on Friday
until the resolution and pending amendments be DIS
posed OF.
The Senate then went into executive session, and
when the doors were reopencd, at i've O'CLOCK, ad.
journcd until tomorrow