Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1886-01-13
XIX. CONGRESS.
TIE SUCCESSION QUESTION.

The Hear Bin Repcr,cd Without Amend.
msnt- What the Committee saga Minority
Report.
tBy telegraph to the Dispatch.l
WASHINGTON, January IL, 1886.
senate.
Mr.. Cockrell, from the Committee
on Military Affairs, reported favorably
bill providing that copies Of the official
letter-books Of the Executive Depart
ment Of the State Of North Carolina,
now in the War Department, be fur
nished by the Secretary Of War to said
State.
The President pro tempOre asked per-
mission Of the Senate to be absent after
tomorrow for the remainder Of the
week, and that Senator Hawley be sub
stituted in his stead as presiding officer
during that time. Unanimous consent
was given.
Mr.. Brown presented the memorial
Of the Legislature of Georgia relating
to what is known as the Trezevant
claim. 1t recites that Congress had
appropriated cas-, 555 to pay the claim,
but that the money had not been paid,
and that the amount has been debited
against the credit Of the State on de-
mand not recognized by the State Of
Georgia, and urges Congress to pro-
vide for the payment oil the money.
Mr.. Logan asked what was meant by
the words "a claim not recognized by
the State of Georgia
Mr.. Brown said it referred TO d.
rect-tax petition.
On Mr.. Logan's suggestion it was re-
ferred to the Committee on the Judi
ciary.
Mr.. Beck submitted, for reference to
the Committee on Finance, a substitute
for Mr.. Eustis's recent resolution, which,
after the preamble, is similar to the pre-
amble of Mr.. Beck's former silver reso-
luton. 1t provides as follows;
Resolred by the Senate and House Of
Representatives., &c., That the Secre-
tary Of the Treasury be, and he is here
by, directed in all payments hereafter
made of interest on the bonds and notes
of the United States, and in the pur-
chase or In the payment Of l per cent.
Of the entire debt of the United States
for the sinking fund, as now required
by law, to pay out gold and silver coin
as nearly as possible in the same pro-
portion in which gold coin and certii-
Gates and silver coin and certificates
were received during the preceding fis-
cal year for duties on imported goods.
Mr.. Beck, of Kentucky, said the
Finance Committee had had Mr..
Eustis's resolution up this morning,
(but had not finished its consideration,)
in order that the committee may have
the subject fully before it. lie asked
the reference of his substitute to that
committee, and it was so referred.
Mr.. Pugh resumed his remarks on
Mr.. Beck's silver resolution. The Lon
don press, he said, had joined the mo-
ney kings Of our eastern States in de.
handing of Congress suspension of
silver coinage. They wanted to sweep
away every kind of money but
gold. Then, indeed, we should have no
God but gold, and no king but ma
tional banks. Silver, Mr.. Pugh insist
ed, had not been treated fairly either
by our public officers or the banks, but
it had held up as well as it did in spite
Of them. Whenever silver gets the
same treatment as gold-under the
natural laws of supply and demand-if
then it should not hold its own, Mr..
Pugh would deem the controversy set
tied. But he had no doubt that silver
would come out all right in any case.
Mr.. Pugh expressed his willingness to
support any change in the existing law
that would withdraw any paper cur
rency under ten dollars, or over twenty
dollars, SO as to give the entire field for
the use of the small bills or for small
change to silver and silver certificates.
lie advocated the passage Of the bill
heretofore introduced by Mr.. George,
which, Mr.. Pugh said, would give the
national banks better opportunity of
becoming acquainted with silver.
Mr.. Vance, of North Carolina, fol-
lowed. lie said the present attempt OF
the moneyed men Of the world to de-
preciate silver was one Of the grandest
impositions ever seen. Itwas tyranni-
cal and cruel blow directed at the COM
mon people Of all lands. The banner
Of the attacking party should bear in
plain letters in the words of Holy Writ,
- To him that hath shall be given, and
from him that hath not shall be taken
away even the little that he hath"
After considering the question of
the whole amount Of money in use
in the world, Mr.. Vance went on
to show that the growing commerce
and increasing population required an in
crease of money facilities. The increase
of our population, he said, was 3 per
cent. per annum, and our manufactures
q per cent. The mines Of the world
were yielding only per cent. increase
of the present money supply, yet we
were told that we must obliterate 81 per
cent. of the money supply, that being
the ratio of silver in the worlds stock
of coin. The 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 increased
to an extent to which the
property would have shrunk. Every
public creditor, Mr.. Vance said, took
our silver dollar gladly, except only the
class that distinctly and solemnly agreed
in writing to take it. But we were .old
that silver had gone down. This was
not so much true as that gold had gone
up. Mr.. Vance read from late finan-
cial reports Of the Havana markets
to show that American silver dollars
were at a premium over the silver
coins of England and France. In the
course of all of his economic reading, he
said, from Moses to Sunset Cox laughter
be had never met a case so weak as that
made now by the enemies Of silver. lie
had heard many cases argued in school
bow clubs and in crossroads debating
societies; he had heard pleas made
from the tail-end of gingerbread carts