The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-01-12

Routine Business-senator Pugh Advocates
Continual Coinage of Silver.
WASHINGTON. Jan. ia number of petitions
were presented praying for the suspension of
silver coinage.
Mr.. Harrison reported favorably from the COM
mittee on Territories an original bill to admit
Dakota and provide for the organization of the
Territory of Lincoln. Mr.. Butler reserved the
right to submit minority report if, after
he should conclude to do so.
Dir. Harrison, from the same committee, re-
ported adversely on the resolutions heretofore
offered by Mr.. Butler and Mr. Vest, call
ing for inquiries as to the organization of State
government in Dakota. The resolutions were
placed on the calendar.
Mr. Morgan offered resolution relating to
the trustees provided for by the Utah bill to
manage the property and affairs of the Mormon
Church organization A preamble to the resou.
ton recites that the union of church and state
in the joint administration of the temporal and
spiritual affairs of any church or religious sect
is dangerous to the freedom of religious worship,
and violates the principles of the Constitution
of the United States. The resolution sets forth,
among other things, that. in the opinion of the
Senate, it is not within the power of Congress to
appoint officers of the United States to partiei-
pate with the officers of any church or religious
sect in the management of the affairs OF such
church or Sect and that it is violation Of the
Constitution for the President to appoint any
such officer under any law. Al Mr.. Morgans
request, the resolution was allowed to lie over.
Mr.. Henderson called up his bill to increase
the efficiency of the infantry branch of the army.
The bull provides that each infantry regiment
shall consist of twelve companies, one colonel
one iieutenant-colonel, three majors. one ad-
jutant. quartermaster, one quartermasters
sergeant and one chief musician. All appoint
ments to the original vacancies above the grade
of second lieutenant created by the act, shall be
filed by seniority III the infantry branch of the
service. Mr.. Henderson addressed the Senate
on the bill.
Mr. Blair addressed the Senate on the bill in
troduced by him to provide for the erection Of a
monument at Washington to Abraham Lincoln,
and another to General Grant Lincoln and
Grant, he said, were associated IN the minds OF
the people with Washington as saviors Of the
country, and appropriate monuments should be
erected to their memory in the capital city of
the Nation. Individual effort would never I'M
dertake to erect monuments becoming the great
ness of the men and principles to be commemo-
therefore should undertake the task, as it had
completed the monument to Washington.
Mr.. Pugh called up Mr.. Beck's silver resolution.
and addressed the Senate on it. With the aid of
all the learning of the world, Mr.. Pugh eaid, the
greatest statesmen were still graphing with the
money question at precisely the same point at
which they began to grapple with it. So far
the United States were concerned. there had
never been a time when our paper or metallic
currency had been 80 sound and healthy as it
was to-day. This condition of affairs, and the
premium on our bonds constituted grim satire
on the prophecies of the opponents of the legisa
ton hitherto enacted by Congress on the money
question. Nothing was more to be desired, Mr.
Pugh thought than that the banks, bankers
and federal Treasury should stand aside
and allow Gresham's law to have full and
free operation silver currency. These
questiens we're SO farreaching and complicated
in their operation as not to be capable of final
solution satisfactory to all honest iDquirers. He
lMr Puehl had given the Presidents message
much consideration, but Was constrained to
differ with him in regard to money. Mr.. Pugh
quoted figures from the New York clearing
house to show that only about 81 per cent. of the
clearing house transactions were represented by
cash. the remainder being principally in checks
Congress confronted, he said, with
official announcement that our business relations
had reached crisis in which we must suspend
the coinage of silver till we could secure
an international ratio between gold
and silver The real point involved
Mr.. Pueh believed to be not the suspension, but
the total stoppage of silver coinage, and if silver
coinage suspended now it would directly
and speedily lead to the contamination Of an or
lutte control of all our currency and the regula-
ton of the volume and consequent purchasing
power. Mr.. Pugh believed he spoke for the
Southern people when he said that three fourths
of them would to-day, if opportunity were given,
vote against the proposition to suspend silver
coinage. The petitions that came to Congress
favoring suspension were all on printed blanks,
and signed mainly by bankers. Mr.. Pugh
criticised the arguments of the Secre-
tary of the Treasury and of the Presi-
dent. He inquired whether we were TO
take the mere dictum of the President on this
matter, and insisted that the executive officers
were under obligation to enforce the laws of
Congress Some of those laws had been hourly
violated. Had Congress abdicated its powers TO
the executive department of the government
The national banks who were fiscal agents of
the government should not, Mr.. Pugh thought,
have been allowed to become members of q
Clearinghouse that discredited the silver certif
Gates of the government. The national banks
had evaded the law of Congress by agreeing that
they would not offer silver certificates to the
clearing -house, and. therefore. none had
been actually refused by the clearing
house. A New York newspaper, he said. had
squarely defended the evasion Why was silver
opposed by the national banksl Because silver
was the only medium of our currency which
they could not control. Stop the coinage of
silver said Mr.. Pugh, land those banks will
become absolute monarchs of all they survey
The opinion of Mr.. James G. Blaine, he contin
ued, would have influence with some He read
from remarks MAIDS by Mr. Blaine while in
Congress, to the effect that the establishment of
a monometallc standard would be injurious TO
our industries and commerce, and that the
United States could not wisely treat it az the
European countries did. Both metals, Mr. Pugn
insisted. were necessary in order to counteract
the constant tendency Of money to contract
under the vast increase of the values of the
world He quoted from an eminent English au-
thority, Mr. Goschen. to show that no gold
standard country in the world had advanced In
prosperity 10 degree at all to be compared with
that OF the douDle-standard United States
Without concluding his remarks. Mr.. Pugh
gave way to Mr. Edmunds for motion to go
into executive session.
Mr.. Vance gave notice that at the close of
morning business 10 morrow he would ask the
Senate to continue the consideration of Mr.
Becks resolution.
Mr. Coke gave notice that on Wednesday newt
he would ask permission to submit Soma va.
marka ON the Same anhiact -