Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-05-05
CONGRESS- AND CAUCUS.
REPRESENTATIVES, TAKE Il HIND
IN BOTHllSSEMBLIES,
House of REPRESENTATIVES.

WASHINGTON, May 3.-Mr. Davidson called
attention to the speech of Mr.. Russell present.
ed irr the Record though not delivered and alb
solutely untrue. He added, the fippant man
ner in which members charged fraud on others
was altogether unbecoming tho station which
they occupied Mr.. Reed responded sarcastic
caly That is sou
Mr.. Stephens, from the committee on coin
age, weights and measures, reported bill to
enable importers to use the metric system of
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 elections, when Congress did
not meet until December, to prepare in vaca-
ton the records and briefs in contested cleo
ton 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 a vacation of the
House power to break open the seal of State.
The bill goes over another morning.
At the expiration of the morning hour con-
sidcration 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-
viding 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 decentralization Of
silver as felonious act on the part of the
| monied classes, and argued that
Congress had no right to pass
that legislation. Heasserted that not only was
| President Grant not aware, ut the time of his
| signigg the bill which dcmonetized silver, of
the effect Of that act, but that two years subse-
quently neither the President his cabinet
were aware Of it. This was proved, by the
special message of January 8th 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, for
| the metallic valuation of the currency was re-
! duced fromone billion to four hundred million
| dollars.
| MIR. Fort reminded Mr.. Warner that the
ground had all been travelled over, and that sill
yer had been remonetised two years ago.
| Mr.. Warner replied that the Bland BILL while
| remonetizing silver, did not re-establish the
bimetatic standard, and it was for that he was
contending. The legal tender paper currency
| was as much money as if it was gold or silver
coin. He asserted that in England gold had
deprecated in its purchasing power between
Is or 20 per cent. within the last fifteen months
! and the question was whether the standard
which was thus constantly changing should be
! adhered to. If the value of money was being
| constantly changed, it was easy to see all the
| relations of values were overturned and indus
try was paralyzed. He regarded the success OF
| the per cent. loan as the saddest commentary
! that could be made on the condition of the
country. 1t proved only one thing; it proved
absolutely that there no profit in the
United States in productive capital in
dustry; that the American people, with
! its educated brain, its skilled hand and it's in.
dustrial achievement was earning no profit
If he had his own way, the light Of another
day should not fade from the sky till every
one of these financial measures, wicked anc
wrong throughout, was torn from the statute
books. (Applause.l The effect of the pro
vision of the bill allowing unlimited coinage
of silver would be increase the value o.
silver, and to decrease the value Ct gold
That was the sort of compensation which be
longed to a bimetalic system, and tended Il
retain the equivalency Of the two metals. Il
conclusion he urged return to the STANDARD
of the fathers, and the giving to the people o
a currency that had the element of unchange
ability to the fullest extent possible. Tha
could only be by allowing unlimited coinag
OF both metals. (Applause.)
Mr.. Gillian obtained the floor and the Hous
| adiourned