The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1886-01-28

was very Wllung that all of his wlfe's relations
should. Whenever the government, from inability
or from indisposition. should fail to maintain the
silver dollar at par with god all of the silver GER
titicates, as well as other paper cur
itself will fall to the exact commercial value of the
bullion contained in the standard dollar All our
legal tender must then stand on that basis. There
Is no financial or Legislative witchcraft that offers
any other fate. The senator from Kentucky (Beck)
of course expected to carry the Empire state in
1888 on his platform. Not being himself eligible
as acandidate for the presidency the distinguished
senator waves his banner reckless OF the clouds
without any silver lining which there betoken the
fate of any democratic son of New York who may
seek to conquer under that sign The inevitable
result of using silver in payment OF the public
debt would be to Danish gold, two-thlrds OF all
our present metallic circulation, and leave lis with
nothing but silver coinage Our five or
six hundred millions of gold would
soon command premium Go where IL might, II
would have more appreciation and Its departure
could not fail to produce serious monetary crisis
"a contraction which congress would be promptly
asked to cure by an indefinite issue OF new edition
of legal tender greenback5, or by the revival of
wild cat banks to supply the place of departed
gold. This, the supreme court has already an
nounced, congress may do. Such step once taken,
however the experience OF the world shows, cannot
public faith was pledged to the payment of the
bonds, both principal and interest, in gold, and
that our credit would be dishonored by
paving them off in silver worth rs cents on the
dollar and concluded as follows: The fact that
the president and secretary of the treasury, the
director of the mint and comptroller of currency,
the experienced treasury officials, no less under the
present administration than preceding ones, are all
agreed in urging congress to cease the present
coinage of the silver dollar goes for nothing with
the senators, the senator from Kentucky and his
obedient followers.
Mr.. Beck said that to stop the coinage of silver
money in order to make silver money more val
liable like stopping the grinding of wheat into
flour, in order to make wheat more valuable. The
question was to suspend it now and not to resume
coinage. The argument merely showed that silver
was good enough for everybody but the bondhold-
ers, who were the only persons who had, in writ
ing agreed to take it. The bankers and bond
holders of Wall street, Mr.. Beck asserted, were
gambling on the msfortunes of the people
and should not be allowed to strike down
one half of the coinage of the world. This was
government of the people, and the people would
see that it was not turned into government of
bondholders, by bondholders, and for bondhold-
eTS
Mr. Beck gave notice that in due time he would
reply to Mr.. Morrills speech.
NJ. Morrill, said Mr.. Bccks 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- (Laughter)
Mr.. Teller denied statement by Mr.. Morrill,
to the effect that $i65000,00O of the 215,O00,0O0
silver dollars already coined could not be got into
circulation. That statement had been made by the
president and secretary of the treasury, and had
officials we're concerned # was Intended TO mis-
lead and had misied tbe neonie Ry the same nro-
rees nf ingir II corid ba asserted that the
2l500O,090 gold in the treasury could not be put
had made e3O OOO OOO nroft IN fine coinaUe of sill
Yer. They had no right TO make a profit on coin
ago The talk of the Government lOsinp money on
silver coin was all bosh and nonsense.
as mnch silver coin AZ wond keen il ON mar with
cold and arGned that Mr. Teller and Mr.. Beck and
SeoDle of their way of thinking were endeavoring
| to bring the country to silver basis.
Mr. Beck sald tne people 0l tIie Test nau siloM @
6nelr CohnuenGe IN sllNer. lheH nay seiiC ea?s So
VoO0oo OF g2lu dollars, ana took slEtt @
l4p 1t, sustained ny siNer aione "ii' ''ie
stooppeSMI SI ~; III, NJ poo,. ,,,,. 60 ,o,
Mr., McPherson asked II Mr.. Beck meant 10 say
tia al inns vasI aoilit VI golu L"u neen sJr f @ =.
tne lIeStliy IroI Ile "eS'' lol lo P"iPoSo Vi So
| tlhg silver cerIiIcates;
Nj NJ beGH saiu ne qla' .o,, ,,o o,.oot,,
MI McF Iersoh me teiI tle ncndtDl t ~
what was done. Ihe senator KNOWS tnat, Ior
long une past tnere mas 9een Iarge llcreaTe H IL
the Sold reserve IN the DahKs IN New ork. me!
a hane I m SUN m tbo ~
Oelng forced on Ine couhtty, ny tne "
SILVER COINAGE nat ulu tliey aoI lneS @
thelr S0u III t,e suplreasuIy vi Nem toih' ~ i
0Tlsnal certlcate nus Deel sele W .ie .IeSiy ~
washington, anu sllor ceItlta.e h9 oeen is7uI.
upon that, and charged against tne silver upon ue
post IN tne treasury. &c .,,, aor0to ad
MI leller, III MloSe ti'lle osI VI vac @ a0
taken place, declined 10 yleld any longer 9nu con
tnued ms remarks; ne rePuaiaeu tlle luea m lll
plleu Dy the g9u aovocates tiaV tue peopie Mho Th
ne represented meant 10 scale tne ue".. tnest I
| people had as much patriousm as the people o
| any other state IN the uhloh' ihey CONTINUES
more men 10 the army IN prop0rtloh 10 thelr PoPf
lauon tnan any other sIate III tle uhioL. , ,; ,-
MI MaXey sala the bankers M nau oeen uGa,tS "a, a
tney c0ula 10 Drlng ABOUT t1eir o"H G s ti
ana llttle ring OF thei nau neeh r tot t o,
purpose OF shlpplhg ltte goiu ne ueoe s .tGi t
So,"I Samato w od;onrn6d a I orTv "'O '-'0' "1
HOUSE
AIR Thomas of Illinois. from the committee ol
naval affairs reported bill authorizing the presi
dent to retire Lieutenant w. B. Randall as a lieu
| tenant commander. Sent to the private caen
dar.
Mr. Ballentine, of Tennessee, from the sam
committee, reported a bill authorizing the volun
tary retirement of many officers who have ren
dered conspicuous service in battle or who hav
served thirty years in the navy Sent to the hous
calendar
Mr.. Mattson, of Indiana, on behalf of the com
mittee on invalid pensions, called up the bill in
crcasing pensions OF widows and dependent rela
| tiyes OF soldiers from 81 to Sl2 per month:
MI Mattson stated that the Dill received the unar
imous approval of the committee. The additions
| annual cost to the government by reason of tn
passage OF this Dill would amount to somethin
| over S5,OOOOUO, but he mad prepared an amendnen
repeating the Limitation clause OF the arrears OF tn
pension bill, which he hoped the gentlemen Woul
be willing to vote for.
Mr.. GrOsyenor, of Ohio, while heartily in fayo
of Mr.. Brown 8 proposition' announced his III
tentiOn of voting against II Tor Tear that IL mlgh
impede the passage OF the bill.