Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1886-01-13
FORTY-NINTH CONGRESS-.
First Session,
sen ATE.

bill providing for the purchase of the old
produce exchange building and site in New
I ork city for army purposes, which appro-
PIRATES S450, 900 was passed.
The president pro tenn asked permission to
be absent after tomorrow for the remainder
of the week, and that Senator Hswley be sub
stituted in his stead as presiding officer dur
ing that time. Consent was given.
Mr.. Beck submitted, for reference to the
committee on finance, substitute for MIR
Eustis recent resolution, as follows Resolv-
ed, That the secretary of the treasury is
hereby directed in all payments hereafter
made of interest on bonds and notes OF the
United States, and in the purchase or pay
ment of one per cent. of the entire debt of
the United States. for sinking fund, as now
required by law. to pay out gold and silver
coin a. nearly as possible, in the same pro-
portion on which gold coin and certificates
and silver coin and certificates were received
during the preceding fiscal year for duties on
imported goods. Referred to the finance
committee.
MIR. Pugh resumed his remarks on the
Beck silver resolution, and said that the Lon
don press had Joined the money kings of our
eastern states in demanding of Congress the
suspension of silver coinage. Mr.. Pugh ex-
pressed his willingness to support any change
in the existing law that would Withdraw any
paper currency under $40 or even $40, so as
to give the entire field for the use of small
bills, or small change to silver certificates.
Mr.. Vance followed: He said at present
an attempt of the money men of the world to
depreclate silver was one of the graudest
conspiracies ever seen. Ii was a tyrannical
and cruel blow directed at the common peo-
pie of all lands. Success of the efforts against
silver would result in the greatest industrial
calamities. Every species of property would
shrink; the only exception to that result
being gold and debts, which would be in
creased to the extent to which the property
would have shrunk. In the course of all his
economic reading, he said. from Moses to
Sunset Cox, [Laughter] he had never met a
case so weak as that made now by the enc
mics of silver. On the conclusion of his re-
marks the Senate went into executive session
and at p. NJ. adjourned.
HOUSE.
Mr.. Springer of Illinois, from the commit
tee on claims, reported back resolution d-
recting that committee be appointed to in
quire into the expediency of opposing gen.
eral bidds for the ascertainment of facts in
all private measures, by some Judicial tribu-
endar
Mr.. Caldwell of Tennessee, reported back
without amendment the Hoar presidential
succession bill and it was placed on the
House calendar. A minority report will be
filed.
The House at l o'clock went into a COM
mittee of the whole, (Mr. Blount of Geor-
gia, in the chair,) for consideration of the
Presidents message.
Mr.. Reagan of Texas, made a speech on
on the silver question. He condemned the
national banking system and argued in favor
of applying portion of the surplus in the
treasury to the gradual payment of the pub
lie debt He earnestly cOmbatted the prop
osltion to suspend the coinage Of the silver
dollar. maintaining that such course would
have the effect of making few more mil
lionaires and adding largely to the army of
tramps and paupers. He profoundly regret
ted that there should be differences within
the democratic party on this question. The
President in his message and the secretary in
his report had taken statesmen-llke views on
many questions, but on this question he
could not agree with them. The democratic
party is now on trial. The republican party
had been turned out of power because it had
abandoned the people on all great questions
such as the tariff, interstate commerce and
coinage of silver, and had betrayed its trust
to money power. The democratic party had
come into power because it had resisted and
denounced thie course. The democrats
were found asking the democratic party to
take upon this question the very position
that led to the downfall of the republican
party. If it did this the democrats ought to
join the republican party, and the democratic
party ought to cease TO exist.
After the delivery of the speech by Mr..
Reagan, the House at 2 10 adjourned.