The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-01-21

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-" Laugh
ter.
Mr.. Teller denied statement by Mr.. Morrill,.
to the effect that 65, 000 900 of the 215 0OO 900
silver dollars already coined could rot be got
into circulation. That statement had been made
by the President and Secretary Of the Treasury,
and had not been made by accident So far as
the Treasury officials were concerned, it was in
tended to misIead, AID had misled. the people.
By the same process of logic it could be asserted
not be put in circulation. The government, Mr..
Teller said, had made 20,000,000 profit on the
coinage of silver, and they had no right to make
aproit on coinage The talk of the government
losing money on the silver coin was all bosh and
nonsense.
as much silver coin as would keep it on par
with gold, and argued that Mr.. Teller and Mr..
Beck, and people of their way of thinking were
endeavoring to bring the country to a silver
basis.
Mr.. Beck said the people of the West had
shown their confidence in silver. They had sent
East 66. 000 900 Of gold dollars. and took silver
certificates for it, sustained by silver alone The
Treasury stopped it.
Mr.. Mcpherson asked if Mr.. Beck meant TO
Say budt dll SulB vast amount OF gOlQ Q8Q Dee0
sent to the Treasury from the West for the pur
pose of getting silver certificates
Mr.. Beck said he did.
Mr.. McPherson-Let me tell the Senator ex-
actly what was DONE The Senator knows that
for long time past there has been a large in
crease OF the gold reserve in the banks of New
York. They have experienced exactly such
trouble as is now being forced on the country by
the continuance Of silver coinage. What do
they dot They have deposited their gold in the
sub-treasury, of New York, the original GER
tfcate has been sent to the Treasury at Wash
ington. and a silver certificate has been issued
upon that and charged against the silver
on deposit in the Treasury. Now. then what
becomes of the certifcates9 At a certain time
places in the West to move the crops. The
Treasury itself agrees and takes upon itself the
responsibility and cost of transporting these GER
tifcates to the West, without cost to the banker
The bankers bring it to New York, and recoup
themselves out of the exchange there. In other
words the banker has made handsome trans
action, by depositing his gold, which he did not
want. TO use for the purpose of getting certih-
Gates
Mr.. Teller, in whose time most of the debate
had taken place, declined to yield further, and
continued his remarks He repudiated the idea
implied by the gold advocates that the people
whom he represented meant to scale the debt.
These people had as much patriotism as the
people of any State of the Union. They had
contributed more to the army, in proportion to
their population, than any other State in the
Union.
Mr.. Maxey said the bankers had been doing all
they could to bring about their own predictions,
and a little ring had been formed for the purpose
of shipping little gold.
The debate came to close. and after ar ex-
ecutive session the Senate adjourned.