The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-02-08
CONGRESSIONAL PROCEEDINGS.
The senate.


:. WAsH1saIos, ~ n, 1 Tsb MT Davis. p Illinois,
Isavings banks
The amendment of Mr.. Rollins. extending the
! Ing, deposits. WINS agreed to-yeas 20. nays az
and the bill vas then passed.
The morning hour expired and. Mr. Blaine
addressed the. senate on the silver bill.
He said gold and silver were the money of the
nority to delnonetize one than the other, and
10 more power to detnonetiz, either than both.
1 Congress had denonetlzed silver he was In
aver ot remonetizing It. Il the, coinage of sill
er had ,,' been stopped he was 10 favor Of resum-
ihlue Of silver were not due to the denionetiza-
/ ion of silver In this country, but to number
where and the rapid production OF tie metal.
TO coin 2 dollar Of too low value would
lriye gold from this country. and to coin one Of
he United states. The difficult problem is
What shalllwe do, when we aim to, ra-estahlish
,ilver Without the 90 operation of the European
,oarce them into the same policy.
Heargued that the value Of silver coin must
aeeess,saariy change With the return 70 silver Of
|,aid md shall be the greatest producers Of sil.
ger in the world and we have larger interest
r,,d is monetlzation L. than any other country
general accep' anee OF SILVER as money in the
commercial world and Its destruction as money
will possibly equal within the next half century
he entire bonded debt of the nation.
To gain an advantage, silver must as money
10 made the equal of gold in the markets of The
single gold standard would. he believed pro
uee widespread disaster throughout the entire
commercial world.
He criticised the Legislation In Europe on the
pestion OF the metallic standard, and said that,
fhether 30 intended or not, 1t had been un-
friendly to American interests.
10 meet various causes now operating against
liver bullion, he proposed silver dollar Of
25 grains, which, would be equal with The gold
oilar. and would guard against the drain of
No one would be Injured BY such dollar: it
& give the aborer ab si dollar for d9ars
aimed three simple provisions: First M dollar oi
425 grains, with unlimited coinage and un-
mlted tender; second, oil profits of coinage
oilars or silver bullion, assayed and mint
tamped. may be deposited with the Assistant
treasurer at New York, and coin certificates
nitedStates notes not less than slo redeemable I
Mr. Blaine said that he did not fail to recog- |
Prs preclude the hope Of this amendment be- |
andard or by unwise | gislation forcing prac-
rtune to the country Both were needed b { |
,th could only be had by making them equal. |
eeap ne aa a2 not m de-
ice Of good money, which Is quite another |
ing. a, They DO not want single gold standard |
ey do not want an Inferior silver standard
at will drive gold out and not help those al
ady poor; they want beth metals in full value
,untiful earth viii yield them to the searchine fn
sof science and the hard hand Of labor.
The two metals have, he said. existed side by
money ever since intelligent trade has been T
lown among men. and they were here DELHI
wing Fam aneM hr oyer the problem, which comes
Jonsiderable applause by clapping OF hands
,m the galleries, which were packed, fol
we'd the delivery OF the speech, and the Chair
the bill. and said that whether right nr wrong
d been demonetzed by fraud, and wouid
yer be. satisfied until that wrong was righted,
SAID u was not necessary that the two metals
ould be absolutely. relatively alike. One prac-
al example was worth a hundred theories,
'ere silver bullion was sellink at 10 per per cen, cent
ance, was selling at par with gold. =
There could be no danger OF gold being ex- d.
iled BY BY silver. for with the fullest capacity Of
meet the constantly increasing demand of !
country There are uses for gold that would , ,
= Pc inserered a with by silver. that would keep
lr. Hill was recognized rs the next sneaker
gave way Tor motion by Mr.. Morgan for l
executive ,sa. session. which was agreed to. and
sion, and soon after adjourned.
The House.
fter discussion by Messrs. Hale, OF Maine. | r
Banks for Pacheco. and Mess RS, Harris. Of s
ginia. and Springer. OF Illinois, in favor Of Z
gginton. Springer demanded the previous r.
sstion. which was seconded after which
ne time was occupied in closing the debate | Il
he first question was upon the resolution of
minority OF the committee declaring Pacheco Il
tiled to retain his seat, and it was rejected
sstrici party vote--yeas 1876. nays 1877.
he question was then upon Leonard's SUBJ
ute that neither was entitled to the seat. Re- b
ed without division. n
he resolution declaring Wigginton entitled o
seat was then adopted by vote of 1876 yeas
l25 nays, a party vote, except that Potter, Y
nocrat. OF New York, voted In. the negative.
oath of office was then administered to N
7 Wiggnton.
motion OF Mr.. Durham. of Kentucky. the
authorizing the Secretary of the Treasury
',mploy temporary clerks was taken from
committee of the whole and recommitted to IL
Committee on Appropriations. ~