The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1878-02-20

:"
Silver BilI-rhey Finally Decide TO Re
fer 1t 10 the Committee ON Banking and
Currency.
WASHINGTON, Feb. Is After the adjourn.
ment of the house to-day about 60 members.
in favor of the reconciliation of silver, con-
vened in the room of the committee on
judiciary. They were called to order by
Repr. sentative Buckner, who announced
that the executive committee had agreed 10
call the association the Silver Union. Rep
resentative Ellen offered the following:
Resolved, That tomorrow Immediately after
the Orning hour motion be made by Mr..
Buckner to proceed with The business on the
Speakers table: On reaching the bill to to-, re-
called on cOncurring in. the senate amend
ments, and that there he no debate.
Mr. Bright thought there were serious OBJ
jsctons 10 the bill as it was returned from
the senate. Que was the limitation of coin
age and another the striking out of the feat
ure of free coinage from the house bill He
wanted to make some protest against 1T, for
this was discrimination against both persons
and etal The holders of gold were priv
legged to have their gold bullion coined free
of charge and the citiz ms and foreigners
could benefit alike in this respect Discrimi-
nation against silver should not be made as
the silver 10 be coined under the bill was to
a full legal tender in payment of all debts.
What reason was there for discrimination
against il in the matter of coinage? He
stated several other objections against the
bill.
Mr.. Wright offered a resolution as fol-
lows:
Resolved, That the bill should be reported
as it came from the senate.
He said they had been here three months,
and ii was evident that they had made
decided movement TO carry a silver bill.
Whom naSSad ho thNnUht ac of
course the president would veto it. He had
no doubt of that but the house could pass
the bill oyer his veto by majority of two
thirds. BY accepting the senate bill they
made the measure certain and sure. The
free coinage was a small matter. The bill
secures a silver currency. 1t would have a
good effect on the country If the bill
should pass as it came from the senate, it
would be a great victory. When the gentle
men were certain of good thing why should
they hesitate.
Mr.. Hanna said, while he was in favor of
free coinage, yet it seemed to him, "a a ques-
ton of policy, that il would be best for
them as body to take up and pass the bill.
He did not believe the president would veto
the bill; the president dared not do it. Mr..
Hanna made this declaration as a radical
republican. If the president should veto
the bill o-thirds OF both houses would pass
it to the contrary notwithstanding. Now is
Tile lillo W uTlNc NC ldSb uuli w mic TIC Qtu
not approve of the senate amendments, he
thought the passage of the bill would do
very much to strengthen the confidence of
the country.
Mr. Ewing said the people of the country
were in intense business distress. and were
looking for relief from the reconciliation
of silver. Under this bill they would receive
none. and he ventured the assertion that
not 100000 would be put into circulation
by it. The secretary of the treasury had the
power to sell bonds and to buy bullion in
order to resume specie payments. This bill
rPmnnetiZes silver, and every dollar of the
50 600 600 authorized to be coined per month
will be bought by Secretary Sherman for The
purpose of boarding 1T for the prosecution of
his resumption scheme, and when this bill
vas Passed the advocates of resumI
ton would say that 'yOu sireDg bened
our cause by giving US 100000 of coin
dollars year."
Mr. Haskell said he was no admirer OF
Secretary Sherman and his financial policy,
but for two years past the secretary and the
director of the miut have said that if the
people want dollar of 41215 grains they
should have rs much as they wanted, so far
as these gentlemen could control it. They
would put four millions in circulation every
month.
Mr. Ewing said this bill gave to the secre-
tary OF the tire tsury the power TO coin either
two or four millions silver dollars a month,
but with such a restriction il was adhering
in the effect of gold standard. He would
not vote for it.
Mr.. Butler said although he did not like
this bill he would take il il he could obtain
| nothing better The silver men had a giants
strength and should exercise IT. They could
| do what they pleased. He thought IL would
| be unwiSe 10 pass the bill without affJrding
| some time for debate; this would strengthen
the measure. If the bill should be passed
| without debate the president might send ii
back without bis approval, saying he did so
| because he never had heard of any reason
| being given in the house. If IL should be-
come a law, therefore, Mr.. Butler would have
il debated in order 10 take away all excuses
| for the executive 10 saw he had a right TO
send it back because there had been DO de-
bate on it. Mr.. Butler then criticized this
part of the bill, wherein it is said the silver
dollar shall be a legal tender at its nominal
and private, except where otherwise
expressly s.ipulat d in the contrac'.
| According TO this every banker or
| broker or other person may say he will not
| take silver, but only gold. He held that
such exclusion could not be msde, and
referred to the decision OF the French
court of cessation in the case of a contract
that the refusal OF the money Of the country
was against public policy, ard ought not
| therefore to be permitted. Mr. Butler said
his proposition was this: Let this bill be
treated as all public measures ougnt to be,
with due respect to the nation; do not re-
| monetize silver with haste or by trick let
the bill be referred to the committee on
banking and currency, and they will come
| to a conclusion as to what should be done.
III they conclude the bill should be passed in
its present shape the friends of remonetiza-
ton could vote for it in body; If they
should conclude it ought TO be amended they
xfrato for nrtann a-ffr 1Olu
BY this they will gain strength.
| Mr. Southland moved the bill BE referred to
the committee on banking and currency.
Mr.. Phillips called attention to the fact