Daily globe., 1879-05-04
CONGRESS AND CAUCUS.
REPRESENTATIVES, TAKE 4 HAND
IN BOTH ASSEMBLIES,
Mr.. Warner on the Free Coinage of Silver
Reported Compromise on the Army
Appropriation Bill Agreed Upon-The
American Peace Union.
FORTN-SIXTH CONGRESS.
Extra Session..
House of Representatives.


WASHINGTON, May 3.-Mr. Davidson called
attention to the speech of Mr.. Russell present.
ed in the Record though not delivered and ab-
solutely untrue He added the flippant man
uer in which members charged fraud on others
was altogether unbecoming the station which
they occupied. Mr. Reed responded sarcasti-
cally, That is SO !"
Mr.. Stephens, from the committee on COIN
age weights and measures, reported bill to
enable importers to use the METRO system or
weights and measures. Referred to the COM
mittee on ways and means.
VIM. Springer, chairman of the committee
on elections, reported back the bill relating to
contested election cases, with few unimpor-
tant amendments He stated that the only
object of the bill was to permit the clerk of
the committee on elections, when Congress did
not meet until December, to prepare in vaca-
tion the records and briefs in contested elec-
tion cases and have them ready to be presented
to the committee when organized.
Mr.. Harris opposed the bill because it gave
a ministerial officer during vacation of the
House power to break open the seal of a State.
The bill goes over another morning.
At the expiration of the morning hour con-
sideration was resumed of the bill referred
from the coinage committee amending the
statute relating to coinage and coin and bull
lion certificates.
Mr.. Warner submitted an amendment pro-
vidinc that gold and silver bullion, which
shall become the property of the government
by the return of certificates to the treasury on
payment of dues thereto, shall be coined and
paid out the same as other money. He made
an argument in support of his substitute, and
quoted in favor of his argument from the writ
ings and speeches of Hamilton, Jefferson and
Webster. He spoke Of the demonstration of
silver as felonious act on the part OF the
%onied CLASSES asses and rana argu9d ID thas naas
that legislation. Heasserted that not only was
President Grant not aware, at the time of his
siguigg the bill which demonetized silver, of
the effect of that act, but that two years subse-
quently neither the President nor his cabinet
were aware of it. This proved, by the
special message of January 9Th, 1875, in which
the President spoke of the time it would take
to coin the silver necessary for the resumption
of specie payments. At the time OF the re-
monetization of silver that act, he said, effected
the country very little, but when specie pay
ment was resumed then its effect was felt, fo1
the metallic valuation of the currency was re
duced fromone billion to four hundred million
dollars.
MIR. Fort reminded Mr.. Warner that th'
ground had all been travelled over, and that sill
yer had been remonetised two years ago.
Mr.. Warner replied that the Bland BILL whil
remonetizng silver, did not re-establlsh tn
bimeta,ic standard, and it was for that he wa
contending. The legal tender paper currenc.
was as much money if it was gold or silve
coin He asserted that in England gold hat
deprecated in its purchasing power between
l5or 20 per cert. within the last fifteen months
and the question was whether the STANDARD
which was thus constantly changing should b
adhered to-. If the value OF money was beln
constantly changed, it was easy to see all tn
relations of values were overturned and indus
try was paralyzed- He regarded the success Q
the per cent. loan as the saddest commentar
that could be made the condition of th
country. It proved only one thing; it prove
absolutely that there was no profit in til
United States in productive capital or IL
dustry; that the American people, witt
its educated brain, its skilled hand and its II
dustrial achievement was earning no prob
If he had his own way, the light of anoth'
day should not fade from the sky till ever
one of these financial measures, wicked Al
wrong throughout, torn from the statu
books. (Applause.) The effect of the pr
vision of the bill allowing unlimited coinas
Of silver would be to increase the value
silver, and to decrease the value Of golt
That was the sort of compensation which b
longed to bimetalic system, and tended
retain the equivalency of the two metals.
conclusion he urged a return to the standa
- of the fathers, and the giving to the people
currency that had the element of unchane
ability to the fullest extent possible. Th
could only be by allowing unlimited COMA
of both metals. (Applause.)
Mr.. Gillian obtained the floor and the Hou
adjourned.