National Republican. (Washington City (D.C.)) 1872-1888, 1886-01-21

the Senate yesterday, and but little was
done beyond discussing the merits aud Dc
merits Of tho "dollar Of the daddes." Sona-
tor Morrill, opened the fray with an extend
ed argument fayoring suspension OF
coinage. Priorto his speech but two items OF
moment had come before the Senate, one
being a resolution offered by Senator Hale
which was agreed TO, calling on tho Sccre'
tary Of the Treasury for Information that
would develop whether or not he awarded
contract for On additional story on gov
eminent building at Peoria, ILL.,, which in-
volved the use Of convict labor. Mr. Hale
was not sure that such had been the case,
but was informed that II had been done. lie
simply desired TO ascertain the facts in the
case. lie did not believe that contracts
for public work should be let to the em-
ployers Of convict labor when there was no
lack Of ordinary labor Of the country. lie
did not believe that free labor should beput
IN competition with convict labor.
The other resolution was one offered by
Mr.. Mitchell, Of Oregon, which was referred
TO the committee on foreign relations, call
ing on the Secretary Of State for copies of
all correspondence between the United
States government and the Chinese govern
ment, since the PRONUNCIATION Of our treaty
with China, having referencet to the enforce
ment OF the treaty provisions.
question Senator Morrill, said ~ do not
mean TO encroach upon the privileges
which so many Democratic senators APP
pear eager to enjoy, Of coming to the rescue
of the President and the Secretary of the
Treasury against the rather cruel attack
made upon cardinal measure OF the adj
ministration, as / know the fate Of those
who venture to interfere with family quar-
rels, but this measure, by which silver
might be maintained on par with gold, so
worthy OF all acceptation, | fear will not
have, after the hot demonstration Of the
recognized leader Of his party against It,
that unanimous support TO which 1t may be
fairly entitled.
''ln the first place let me say that there
are no parties, so far as / know, In the
Senate or out OF It that propose or that
have any wish 10 demonetlZe silver. To
charge otherwise is baseless assumption,
and unworthy Of the arena OF fair debate.
Everybody is willing, nay anxious, to keep
as much Of silver In circulation as can be
done, and keep II at the same time at par
with our gold coinage. The only hostility
to silver arises from what seems to be fixed
and passionate purpose on the part of some
of its advocates to promote such an excess
of silver coinage as will drive gold coinage
out Of the country, and leave our vast trade
and commerce based upon silver only. In
reaching this position of silver monometal-
lism II is impossible to be blind to the dis
astrous contraction OF the circulating me-
dium of the country that would at once
occur, for when the moment arrives that
gold commands premium 1t will all be
held as commodity for sale, not for circu
lation-a small or 8 per cent. premium
being as productive Of universal boarding
as % per cent, and no possible advantage
TO our people could he expected from fol-
lowing the lame and feeble example of
India or Mexico in utilizing silver cur
rency only.n
Mr.. Morrill, insisted that there was no
war upon silver, but that, iu substance and
effect, declaration of war had been made
on gold by the leader OF the Democratic
party in the Senate. From the pleasure
which the senator from Kentucky had
evinced in delivering in the Senate his an
tagonisms to the President and Secretary
Of the Treasury, 1t seemed to Mr.. Morrill,
that the senator had been for the moment
under the deluslon that he was still belabor-
ing with left-handed compliments some
Republican President and Secretary But
Mr. Morrill, could look on with composure,
confident, as he was, of the Survival Of the
flttestn
At the conclusion of Mr.. Morrirs long
and elaborate argument, n lively colloquy
sprang up in which Senators Beck, McPher-
son, Morrill,, Maxey, and Teller took the
leading parts. Mr.. Beck, In reply to some
statements Of Mr.. Morrill, in relation to Jay
Cookies connection with the public debt,
ridiculed the idea Of Jay Cookies being
brought in to, support, the case of the
bondholder. Jay Cooke, he said, was
only earning his commissions-he was q
broker.
Mr. Mcpherson remarked that as Jay
Cooke was the government agent, and the
government had not denied his public state
ments, the government was q party to the
contract and was bound by it.
NJ nnly oil tlNat 1aNy In Nyn q
bound by law and could not himself make
law. But the Secretary Of the Treasury
was also bound by law, though he ignored
the law, and had never paid out dollar Of
silver in payment for bonds.
Mr. MCPHERSON inquired whether the in-
vestors in the bonds knew the conditions of
the law.
Mr.. Beck said they could read the words
engraved on the greenbacks and could read
the words engraved on their bonds, and the
bonds stated that they were payable in
'coin." The treasury officials were the
trustees Of people, they We're not the trus-
tees Of the bondholders. Mr., Beck cited
Mr.. Sherman's "denunciationf as he called
it, of bondholders for daring. to call for
more than they had contracted for.
Mr.. Mcpherson asked whether Mr.. Sher-
man, as Secretsry Of the Treasury, had ever
cisavowed Jay Cookies statements
Mr.. Beck replied that that made no diff
ference. 1t had been clearly SHOWN that
Jay Cooke had no authority for any state
mcnt binding this government to pay any
thing except as stipulated in the contract.
lie inquired If anybody denied that the
bondholders were required to take silver
dollars Of the standard Of 1878.
Mr., Mcpherson said he did not deny IT.
the bondholder must take the silver dollar
If the goyernmentinsisted on It,
Mr.. Beck inquired II 1t was not the duty
of the Secretary Of the Treasury to pay II
out instead of complaining that he could
not get 1t out
Mr.. Mcpherson denied IT, The policy OF
the government, he said, had always been
TO pay its obligations in gold.
Mr.. Beck controverted that statement
We had bought Louisiana and fought the
war Of 1912, he said, ON silver basis Mr.
Beck gave notice that. In due time, he
would reply TO Mr.. Morrill's speech.
Nv. Morrill, said he did not claim that
stopping the coinage would advance the
value Of silver. What he had said was that
by stopping 1t for while, we might obtain
the cooperation OF other governments II
coming more Of 1t. He said Mr.. Becl'i
reply reminded him Of the story OF the boy
who cried when his mother whipped him
and when asked by his mother why he cried
so much harder than had been his custom
on similar occasions, replied, "Because
mother, ! see you are growing weaker and
weaker every time you fog me.n Laughter.
The discussion continued with great ami
nation, but at the conclusion of some re-
marks by Senator McPhersou, Mr. Tel.
Ter, in whose time most OF this debate
had taken place, declined TO yield any
longer and continued his remarks. He re
pudiated the idea implied by the gold advo
Gates, that the people whom he represented
meant to scale the debt. Those people hat
as much patriotism as the people of any
state in the Union, They had contributes
more men to the army in proportion to thei
population than any other state In thu
Union.
Mr.. Maxey said the bankers had beer
DONG all they could to bring about thei
own predictions, and a little ring OF then
had been formed for the purpose of shipping