Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1886-01-20

VVTOfNN'f'NVs a uJ COlnu|t VI NfINtI NNU
not hurt our national banks. Mr. Teller
analysed the national bank returns in sun
port OF his contention and showed that
the deposits Of 1877 were $500, 000. 600.
the deposits to-day are Sl,i20,0O0. 900,
nearly double, while the savings banks
deposits are now $500, 600 900 more than
the deposits Of four years ago. How had
IL Jared with England in these respects?
The bank Of England was fast losing its
coin and bullion. In the last six
months IL had lost S3S, OQO, 900
of II and In the same time
had lost S4s,000,000 of its deposits.
Was itnot extraordinary II our financial
policy was so unwise and that of En-
gland so wise, that we had accumulated
SO large an amount OF gold while England
was losing her gold? The whole condition
OF our country, he said, was an eloquent
denial of the truth Of the predictions and
complaints of the enemies of silver. The
stOppage Of silver coinage would be
equivalent 10 the addition Of S30O, 900 900
to the national debt. Ii would add from
20 TO so per cent. to every dollar OF debt
in the land, an amount almost too great
for computation. The creditor class de-
manded the suspension OF coinage, which
was practically the stoppage OF It, and
also that We pay in gold the S346, 900, 600
of national bank notes and withdraw
them from circulation The next move
would be to take from the silver dollars
already coined their legal tender value,
thus affecting reduction amounting alto
gether to S562,000,000 in the circulation
medium, over one-thlrd of our whole Cir
culation. Then with the $500, 900 of
the balance locked mp in the treasury
M In htNg Of Nh.
be left to be done with about one-third Of
our present stock OF money. The secre-
tary of the treasury had told us that the
laboring men would first suffer from sill
yer coinage. Let that gentleman speak
for the great moneyed corporations and
for the bondholders and capitalists, but not
for the laboring men. The laboring men
were we'll aware that that great depart
ment of our government had passed into
the control of the banks, bankers and
monied powers. They knew that the
statutes passed to curtail the powers Of
moneyed corporations and capitalists were
violate d every day n-the treasury depart
ment. The present disturbed state OF the
public mind concerning silver Mr.. Teller
ascrlbed to the attacks made on 1t by the
government officials. Mr.. Teller did not
demand the forced circulation OF silver.
He merely demanded for IL an equal
chance with gold. When that was done
he would abide the decision of the com
mercial world. Let the gold advocates
give to silver free coinage as they gave 1t
to gold, and let the judgment of man
kind be taken on its value. AS 1t is
money, do not allow the government Of
tlcials to discredit 1t. Do not allow the
government agents (the national banks),
to refuse to receive it on deposits Let
all men understand that payment in 1t
was a just and fair payment Of a debt
within the letter and spirit of the law,
and when that was done silver would re-
sumo its place as the fayorite money
metal of commerce. The real question
was whether the worlds commerce
should be conducted with all the worlds
stock of coin or with only one-half OF it.
That question affected nine men in every
ten ia the United States. He spoke,
therefore, for all who toiled in
mill and field, that great host as mighty
in mum )ers as modest in aspiration, who
constituted the strength aud power of the
nation who, though forbearant and long
enduring, yet when aroused in defense of
their rights knew how to compel their
agents to respect their will.
The senate then adjourned.
THE HOUSE.
! WASHINGTON, Jan. ia large num-
Der of executive communications were
laid before the house by the speaker,
among them a letter from the chief OF
engineers asking for an immediate appro-
priation OF 100000 for general
work of survey on the Mississippi.
Mr.. Bragg, from the committee on mil
| itary affairs, reported bill for the relief
of Fitz John Porter. Placed on the
house calendar. 1t authorizes the presi-
dent to appoint Fitz John Porter TO the
position of colonel in the army, aud in
his discretion TO place him on the retired
list as general, provided that Fitz John
Porter shall receive no pay, compensation
or allowance whatsoever prior to his ap-
pointment under this act. The commit
tee adopts the report submitted to the
last congress, but adds that 1t has care
fully considered the objections made tC
the bin In the veto message OF President
Arthur, aud is clearly OF the opinion that
} they are not well founded and should not
interrupt the course of justice. The re
port is signed by all the Democratic mem
J bers of the committee.
Mr. Hammond of Georgia, from the
committee on judiciary, reported back thu
. bill to prevent the claims OF war take
under the act of August 8, 1861, by tn
: United States being set off against tn
, states having claims against the unite'
2 States. Placed on house calendar.
5 Mr.. Cobb of Indiana, from the com
= mittee on public lands, reported back tn
r bill forfeiting certain grants oil land
e made to the Southern states to aid In tn
4 construction of railways. Placed o
: house calendar.
I Mr.. Matson of Indiana, from the com
= mittee on invalid pensions, reported oac
the bill to increase the pensions OF vic
I ows from SIS TO SIP per month, Referre
:; to the committee of the whole.
9 In the morning hour Mr.. Nelson o
= Minnesota, on behalf OF the committe
4 on Indian affairs, called mp the bill ar
! thorizing the use of certain unexpende
. balances, amounting to $4,000, for tn
y relief of the Northern Cheyenne Indian
~ in Montana. Mr.. Nelson stated that u
y object of the bill was to relieve about y
y Cheyennes on the Rosebud and Tongu
- ~. ,.,n,.o In haglitnta condition