Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1885-02-27
FORTY EIGHTH CONGRESS-.
sen ATE.

recess OF Congress.
Mr.. Hale, from the committee on appropri.
ations, reported with amendments the regular
annual naval appropriation bill; placed on
the calendar and ordered printed.
MIR. Hale said he would endeavor to call up
the bill tomorrow.
The Senate at ll.O5 went into executive
session.
After 40 minutes spent in executive session
the doors were re-opened and business re-
sumed.
On motion of Mr.. Morrill, the Senate passed
the House bill to provide for building to
contain the records of the medical museum OF
the army
The consideration of the legislative bill
then resumed.
All amendments yesterday proposed by
senators to increase the number of annual
clerks to the Senate committees were voted
down by vote of 33 to 10.
The Senate agreed to the committee 8
amendment striking out the House section
providing for new apportionment and cleo
ton in Wyoming.
The bill was then passed substantially as
reported from the Senate committee.
The silver bill was then taken up, and Mr.
Sherman said he was willing to vote for the
bill as 1t came from the Senate committee
Two questions were involved in IT. First,
should the trade dollar be redeemed at par of
gold! and second, whether the coinage of the
silver dollar be discontinued in August. 1886?
1t maintained that there was no obligation,
whether of the honor of law or public
policy, to give tine trade dollar any prefer
ence over the silver bullion. purchased in the
open market, yet if Congress chose to pay
So, 900, 900 to redeem those coins he would
not object. 1t would make good some bad
bargains of bullion dealers. As amended by
the Senate committee he woulC vote for the
bill.
All commercial transactions in the United
States, Mr.. Sherman continued were based
ald had, since 1887, been based on the gold
dollar of 20 $40 grains of solid gold. The
market value of silver bullion had been
steadily declining since the passage of the
act authorizing the cottage of the standard
silver dollar. If this should lead to large
expectation and boarding of gold, the sale
standard of value would in time be based on
the market value of the standard silver dol
lar. The effect would be contraction of the
currency, so sharp as to send shock to every
village in the country. The volume of paper
money being insufficient for the demands of
business, would be used for labor, but its
purchasing power would gradually decline
until it reached the level of its market value
measured by gold. This depaeciared cur
rency would then take the place of the
boarded gold, and the laborer would receive
his pay in deprecated money, while the cap
talist would stipulate for gold. Then we
would hear the cry for the redemption of the
standard dollar in gold-and rightly hear it
because we had provided that 1t WAS to be
received and paid in all respects like gold
coin.
Mr.. Sherman's idea Of a remedy for the
threatened evil would be to either first, bv an
International agreement to maintain the free
coinage of silver and fix its ratio; or Sec
ondly, suspending the coinage of silver until
demanded by the wants of business or third,
by the adoption of an American bid metallic
policy of free coinage of silver and gold,
according to market value.
Mr. Beck read from the report of ex-Secre-
tary Folger. to con.rovert the position as
sumed BY Mr.. Sherman on the trade dollar.
As to the suspension of the silver coinage,
Mr. Beck said, we should not in the last hours
of this Congress attempt to strike down silver.
neither should we give any President power
in his discretion to strike down the coin of
the country.
Mr. Hill maintained that the time when
gold would be in demand for export was in-
definitely remote. Silver was today the ex-
elusive money of large majority of the
people of the world
Mr.. Coke said the arguments of the op-
ponents of silver were the same old stale
arguments so often before made, now re-
hearssed and rehabitated.
Without action the matter went over.
Mr. Jones of Nevada, from the committee
On contingent expenses, reported favorably
the resolution to repay $4,000 expended by
I,,l, Ind into mir rn1,t fs,
a seat in the Senate.
Mr.. Aldrich called up the bill relating to
TITLES to real estate in the District of Column
bia.
Motions to adjourn, to go into executive
session and to call up other bills were soon
made in confusing rapidity.
Mr.. Hoar inquired of the chair what would
be the pending question in the morning.
The chair (Edmunds) replied-'The chair
will answer that question in the morning."
Laughter The order that may be pending
tomorrow will depend upon circumstances.
If he (Edmunds) had been in the chair all
the afternoon he would have been able to
answer.
MIR. Hoar-"I am happy to believe that no
occupant of the chair. since the organization
of the Senate, had ever declined to answer
that question before"
Chair-"This then will be the first pre-
cedent."
Nr. Hoar-s'And the last have no doubt. -
| Mr. Van Wyck offered an amendment to
the Pacific railroad funding bill, this morning
submitted by Mr.. Hoar. The amendment
provides First, no dividend shall be de.
| clared until tho interest on the bonds shall
have been paid. Second, that the consolida-
ton of 1880 of the Union Pacific with the
Kansas & Denver Pacific shall no be realized
Third. that no stock shall be considered legal
| for which no money was paid.
The Senate then went into executive ses
sion and at 720 P. M. adjourned.
HOUSE.
| On motion of Mr.. Dorsheimer concurren q,
resolution was agreed to, rendering the thank.
of Congress to Col. Tbos. L. Casey, his corp,
of engineers, and his assistants and workmer
| tor the admirable manner in which they per
formed their respective duties in the compile
ton of the monument to the name and fame
of Washington.
Mr.. Thomas of Illinois moved to recon
slider the vote by which the resolution wa.
adopted. in order to oppose the resolution
He called attention to che fact that its effecl
would be to extend the period during which
Col Casey would be on the active list for ter
wears He did not wish to detract from the
achievements of Col. Casey, but did not wan
the thanks of Congress to be made too cheap
The motion to re consider was agreed to-
The resolution was then laid on the table.
Mr. Eoruev of Alabama suhmitfad q con