The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-02-12
COMPRESSION AL.
The Smiling Senator Discusses
the Silver Question.
SENATE.
WAsH1soros, Feb. II.

WAsH1soTos, Feb. II.
Mr.. Matthews presented 4 petition
from national and State banks and pri.
vate bankers composing the Cincinnati
Clearing House Association, urging the
repeal Of that portion Of the national
banking act which imposes tax Of one
half Of one per cent. on deposits. Be-
ferred.
A large number Of petitions from all
parts Of the country in favor Of six.
teenth amendment 10 the Constitution,
prohibiting States from disfranchising
persons on account Of sex, were presented
and referred. In presenting q petition
OF this character Mr.. Cockrell said he
had been handed petition purporting to
come from the people OF Missouri. he
saw by the names that many Of them
were citizens Of that State. Among the
signers were q large number Of women,
and in the list appeared the name Of
George Francis Train. he protested
that Mistress George Francis Train was
not citizen Of Missouri.
Mr.. Conkling presented large mum:
ber Of petitions from various parts ot
New York State In relation 10 the re.
monetization OF silver, which were re-
ferred.
Other Senators presen,ed similar peti.
tions from their constituents.
Mr.. Coukling also presented petition
from 1928 citizens Of Rochester, New York,
In favor Of the law promising payment
Of the Government bonds in coin; also,
the National bank act and the passage OF
the law making greenbacks legal ten.
der for all debts public or private. Re-
ferred.
|. was agreed that at o'clock to-
morrow the Senate will repair to the
hall Of the House Of Representatives to
participate 10 the ceremony Of receiving
the picture presented by Mrs. Thompson
and return TO It's Chamber on conclusion
thereof.
Mr.. Anthony, from the Committee on
Printing, reported iavorably on the reso.
luton 10 print copies Of the memorial
addresses Of the late Edward Youpgs
Parsons, a representative in Congress
from Kentucky, and appropriating 5000
to have engraved at the Treasury Depart.
ment steel portrait of deceased TO nc.
company the memorial. Agreed to-.
Bills were introduced and referred "a
follows:
By Mr.. VOORHEES,: To authorize the
Secretary OF War to issue ordnance stores
and equipsge for the use Of students in
colleges and other Institutions oil learning
where military instruction is given. Rs.
ferred.
By Mr.. Ferry: To provide for a water
route to facilitate transportation between
Lakes Michigan and Erie. Referred.
Mr.. Anthony, from the Committee on
Printing, reported bill appropriating
81 200 10 engraye plates for portraits to
accompany the memorial addresses on
the late Senators Morton and Boggy.
Passed.
spEEoH OF SENATOR DAVE.
Mr.. Davis argued that 1t was uncon-
stitutional to demonetize silver. The
constitution recognized both gold and
silver as legal standard. II Congress
could demoneiizs silver il could demon.
e,ize gold also, and then we would be
without coin. Who could tell what
evils might follow? lie then referred TO
the arguments heretofore made in the
Senate against paying the bonds in silver
and contepded that II would be viola.
tion Of the contract 10 pay the bonds in
gold alone or in silver alone. The con.
tract called for their payment in coin, and
Congress had no right to change the con.
tract in favor OF the debtor or creditor.
He believed the remouetization Of the
silver dollar and making 1t full
legal tender would soon cause it
to equal the gold dollar in value.
The decentralization OF silver had
decreased Its value. DemonetiIe gold and
the same result wonld follow. He op.
posed any amendment to change the
weight OF the silver dollar from 4l2l
grains, and said TO do so would be chang
Ing the value Of the dollar named in bonds
and besides to increase the weight Of the
dollar would make silver OF greater
value than gold and drive silver from |
the country. The laboring classes were
In favor Of the passage Of this bill. Il
has been said that the agitation Of this
question was even now causing the return
OF our bonds from Europe. 10 his opin.
ion the return Of our bonds was due en-.
tirely to another cause. Our exports
exceed our imports. The balance OF
trade was in our favor and this excess
had to be paid In the United States,
some OF which was paid with bonds. He
also favored theremonetization Of silver
because II was one OF our chief products.
Its reconciliation would relieve finan.
cial distress, restore confidence aud be the
beginning Of that prosperity 40 long n
stranger TO our people.
Mr.. Salisbury said he would give his
support to the bill, though he was not
sure tina. It would give TO the country q
dollar equal In value TO the gold dollar.
Shonld it be found TO be insufficient
further legislation could be had. He be.
lieyed the passage Of this bill would de-
crease the purchasing power Of gold, and
would add to the value OF every species
Of property in the country. He did not
believe lis passage would impair the
rights Of any. He considered 1t his duty
TO protect the interests Of the capitalist as
we'll as those Of the poor man. He be.
lieved the passage oithe bill would re.
lieye the distress now prevailing through.
out the country, and would counteract to
some extent the contraction OF the cur
rency; bat 1t would not give all the relief
expected. Il would aid in maintaining |
greater stability and regularity in fuan.
cial matters and restore prosperity, aud
It's passage was demanded by a large ma.
jSrito OF the people Of the country.
Mr.. Coke said he would vote for the
bill rs It came from the House Of Repre-.
sentatiyea de advocated at some length
the repeal OF the specie resumption act
and argued that the Government was In |
no condition now TO resume specie pay.
mept. It was utterly impracticable on
any basis, and especially on gold basis
alone,
the understanding that he proceed with
his remarks Tomorrow, and Senate I'D.
''''' HOUSE.
The Speaker announced the regular
order to be motion to lay on the table
the motion TO reconsider the vote by |
which the House last Friday refused 10 |
pass q bill for the relief Of W. H. New
man and Layan Hoffman, known as the |
Aisyandria Mill hill The nntion IN Law |