The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1885-02-06
CONGRESSIONAL.
The Senate.

WASHINGTON, February Sat 2 pm.
the Senate reached the bill for the re-
demption of trade dollars and the sus-
pension of coinage of the standard dol
lar. Upon this Bowen took the floor.
He argued that the true policy of the
United States was to develop the re-
sources of their own country, and leave
the other nations to look out for them
selves. Above all, it was important to
maintain balance of trade in our ia
vor, even if for this purpose, it should
become necessary to increase the tariff
duties and to shut out all foreign bust
ness. Gold would then flow in from
abroad. and in time would be sufficient
to retire every legal tender note, and
leave us with currency composed ex-
clusively of gold and silver. 1t should
be clearly announced that the produc-
ton of silver was one of the industries
of the United States, and that the ma
ton was planted on that platform, and
would not get off it.
Bowen opposed the Senate commit
tees amendment to the House bill, and
hoped the House bill providing merely
for the redemption of the trade dollar
would be passed by the Senate, and that
the coinage of standard dollars would
not be adopted.
Bayard strongly opposed the redemp-
ton of the trade dollar at its face value.
Indeed he objected to the word "re-
demption" in connection with it. Trade
dollars were in the same category as
silver bars. 1t was to Bayard paradox
how men could ask, in the name of JUS
| tice, to receive less for more, yet I'VE were
| told that the honor of the country was
at stake. This so-called redemption"
would be a departure from the land
marks of the government. Passing from
the real and tested, to the unreal and
imaginary. If the American people
could learn, at the expense of six, eight
or nine million dollars, the simple truth
that lay at the bottom of this question,
a great lesson would be learned, even
economically for, the greatquestion was
Can Congress create values?" Which
of you, by taking thought, can add a
cubit to his stature? Which of you,
which majority of you, by passing laws
from now till doomsday, can create a
value? Could we create values by Con-
gressional fat? Could Congress say,
"Let value be-" and value would be ?
Congress had already tried it. With
two millions of men in the field, Con-
| ST6SS Udu lSSueu uOleS having tucll
value stamped upon them, yet it had
been unable to keep those notes at half
their face value. This was not a
question. Bayard continued, in which
party should be arrayed against
party. Truth was truth. There
was no obligation, moral, equit.
able or legal, upon the United
States to ''redee m" as it was called the
trade dollar Bayard advocated the
suspension of the silver coinage act.
He would favor a more prompt suspen-
sion than that provided by the Senate
committees amendment under con
sideration; but if the present measure
was the best that could now be had, he
would support it. Bayard added tina
in dealing with the subject of money
no experiment should be tried. Jus
and admitted laws of business should
be recognized. Those who would SUITE
most by silver monometalism were tn
laborers-those who could not bid
their time. An apprehension existe'
in the business community, Bayar'
, said. existed whether rightly or wrongly
| OF evils, stated bv Secretary McCulloci
: as likely to follow any approach I
! monometalism on the basis OF silver
5 There were laws of commerce that coui
4 not be set aside at the behest OF legs
4 lators- To be sure, the Supreme Coui
had said that Congress could destro
: every pecuniary obligation expressed
:, the laws of money of the United STATE
Bayard did not wish to comment furtht