The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-05-05
FoRTY-sIxTH CONGRESS.
Speech OF Representative Warner on the
silver Question. 1r,
4fG2sr WASHINGTON, Mays.
HOUSE.

Mr.. Davidson called attention to thu
speech ot Mr., Russell, printed in thu
Record Though not delivered), and pro
nounced some ofits statements wholly ant
absolutely untrue. He added that the
ilippant manner in which members charg
cd fraud on others was altogether unbe
coming the station which they occupy.
Mr.. Reed responded, sarcastically, "That
Is so." s m. ..li' ITTS
Mr.. Springer, Chairman OF the Commit.
tee on Elections, reported back the bill re.
lating to the contested election cases, with
few unimpOrtant amendments. He sta.
ted the only object Of the bill was to per.
nit the Clerk OF the Committee on Elec.
tions, when Congress did not meet until
December, to prepare in vacation records
and briefs in contested election cases, and
have them ready to be presented to the
committee when organized.
Mr.. Harris opposed the bill because 1t
gave a ministerial officer, during vaca-
ton of the House, power to breakope
the great seal Of State. The bill goes over
to another morning hour.
Mr. Stephens, from the Committee on
Coinage, Weights and Measures, reported
bill to enable importers to usc the met
nc system OF weights and measures. Re.
ferred to the Committee on Ways and
Means.
Mr., Warner submitted an amendment
providing that the gold and silver bullion
which shall become the property OF the
Government by the return OF certificates
to the Treasury, in payment OF dues there
to, shall be coined and paid out the same
as other money. He made an argument
in support oil his substitute, and quoted in
favor OF his argument from the writings
and speeches OF Hamilton, Jefferson and
Webster. He spoke OF the demonetization
OF silver as "felonious act" on the part
OF the moneyed classes, and argued that
Congress had no right 10 pass that legisla-
ton. He asserted that not only was Presi-
dent Grant not aware at the time OF his
signing the bill which demonetized silver
OF the effect OF that act, but that two years
subsequently neither the President nor
his Cabinet were aware Of it. This was
proved by the special message OF the 18th
OF January, 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 de.
monetization Of silver that act, he said, af-
feCted the country very little, but when
specie payment was resumed then its effect
was felt, for the metallic valuation OF cur
rency was reduced from $1,000, ,000, 900 to
$4,000 900.
Mr.. Fort reminded Mr.. Warner that the
ground had been all Travelled over, and
silver had been remonetized two years ago.
Mr.. Warner replied that the Bland Bill,
while remonetizing silver, did not re.es.
tablish the bi-metallic standard, and it was
for that he was contending. The legal
tender paper currency was Us much money
as il it were gold or silver cola. He as.
serted that in England gold had appreci-
ated in its purchasing power between CT.
teen and twenty per cent within the last
fifteen months, and the question was
whether a standard which was thus con.
stantly changing should be adhered to.
II the value OF money was being constant.
ly changed, 1t was easy to see all the rela.
tions OF values were overturned and in.
dustry was necessarily paralyzed. He re-
garded the success Of the iour.per.cent
loan, as the saddest stcommentaryth that could
be made on the condition OF the country
Itproyed only one thing, and that It proved
absolutely, that there was no profit in the
United States on productive capital OF
industry, and that the American people
with It's educated brain, its skilled hand
and its industrial equipment, was earning
no profit. II he had his own way, the
light Of another day should not fade from
the sky till every one OF these financial
measures, wicked and wrong throughout
was torn from the statute book. Zap
plause. The effect Of the provision o.
the bill allowing unlimited coinage OF sill.
yer would be TO increase the value OF sil
yer and to decrease the value Of gold
That was the sort OF compensation which
belonged to the bi.metallic system, ant
tended TO retain the equivalenCy OF thu
two metals. In conclusion, he urged {
return to the standard OF the fathers ant
the giving to the people oil currency tha
had the element OF unchangeability to al
investments possible. That could be only
by allowing an unlimited coinage Of bott
metals. Applause.
Mr.. Clatlin obtained the aoor, and tn,
House adjourned.