The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1886-01-13
THE NATIONAL SOLONS'
Hard at Work in Both Houses
of Congress.
r.CK1ING THE SILVER BILL.
,,. RESOLUTIONS, etc., Introduced
by Senators and Representa-
tiVes on Tuesday
SENATE

HAsHMJ IOhI IoHuoAJ
Logan. from the committee on military
fairs reported faYorably bill provid
inc for the purchase Of the old Produce
TTcbange and site in New York City,
fo- srmy purposes. The bill appropri-
,tas s45O 900, or SO much as may be
raoessary, for the purchase of the site,
"a the necessary alterations and re-
S1odeIIing of the buildings. The bill /,
ON Togan's motion, was read the third
time and passed.
''- The President pro tenn. asked permits
oion If the Senate to be absent, after
fo,morroy. for the remainder of the
woa atO and that Senator Hawley be sub
stituted as presiding officer during. that
Ene Unanimous consent was given.
''' Pngh resumed lis remarks on the
= Rack silyer resolution. The London
D DTs he said, had joined the money
ti ;ngs of our Eastern States in de-
Welding of Congress a suspension
NJ silver coinage. They want to sweep
swav every kind of money but gold.
The1 indeed. we should have no god
but gold. and no kings but
the national banks. Silver, Pugh in
sisted, had not been treated fairly,
either by our public officers or banks,
but has held up well in spite-of them.
Whenever silver gets the same treatment
as gold, under the national laws of
supply and demand, if then it should
hot hold its own, Pugh would deem the
controversy settled, but he had no doubt
that silver would come out right
N any case. tPugh expressed
willingness to support any change in
the existing law that would withdraw
any paper currency under $40 or over
So so as to give the entire
field for the use of small bills or small
change to silver and silver certificates.
He advocated the passage OF the bill
heretofore introduced by George,
which, Pugh said, would give the ma
.ional banks better opportunity OF be-
coming acquainted with silver.
Vance followed. He said the present
attempt of the moneyed men OF the
world to depreciate silver was one of
the grandest conspiracles ever seen. 1t
was 2 tvrannical and cruel blow directed
at the common people OF all lands. The
banner of the attacking party should
bear in plain letters the words
of holy writ: TO hi II that hath shall
DC BlNEA anu AlOAA AAA11 AAAeAb Ah IA NV
snail be taken away even the little
ing the question of the whole
amount of money in use in
the world, Vance went on to show
that the growing commerce and in
CreaSing population required iEcreas-
ing money facilities. The increase
OF car population he said, was
cant ond
manufacturers ~ per cent. The
mines of the world were yielding
only 1B per cent. increase of the pre-
sent money supply, yet we were told
that We must Obliterate "a per cent. of
the money supply. that being the rates
OF silver IN the worlds stock of coin.
The success of the efforts against
silver you'd result N the greatest in
dustIial calam1ties. Every species of
property would shrink, the only excep-
tons to that result being gold
and debts, which would be to the
extent to which property would have
shrunk. Every public creditor, Vance
said, took our silver dollar gladly, ex-
cept only the class that distinctly
and solemnly agreed in writing
to take it. But we were told
that silver had gone down. This
vas not so much true as that gold had
gone up. Vance read from the late
financial reports eff Havsna mar :
rkets, to show that American sill
yer dollars were at premium over
the silver coin of England
and France. 1t the course of
all his economic readings, he said,
from Moses to Sunset Cox Qaughterl
ne had never met a case so weak as that
made now by the enemies of silver.
lie had heard many cases argued in
the schoolboy clubs and in crossroads
debating societies: he had heard pleas
made from the tail end of gingerbread
carts, and had read endless platitudes
u the Congressional Record, but he had
never met or seen a worse abuse of logic
OF teebler attempt to outrage common
sense, than the arguments used by our
bankers, bondholders and gold men
generally in the discussion of this
SILVER question. The rapacity of
aVarlce, he said, was so re-
paSnant to the moral sense
OF mankind that it always sought to
dSgulse its uginess by assuming the
gsr6 OF virtue. So the bondholder and
bankers told US they wanted silver
coinage stopped, not for their own ad-
Vantage-Oh, MOL but for the sake of
ele poor workingmen. whom they pre-
Ie[red TO their own chlefest joy.
vance ud.culed this pretension, and
sad the war on silver was in the
interest not of those who labor. but
OF those who speculate in money.
n reply TO the statement that the
people would not take silver dollars
and that, when issued, it had always
came back to the Treasury, Vance con
tended the law required our officers to
pay it out, and if it came back
again to pay it out again. If the Off
GERS OF the government had done Their
duty and complied with the laws, there
gould have been no difficulty with the
ssuVer dollars. They Lal refused to pay
! out; there never had been another
Instance IN our history in which oul
oncers had boldly taken on themselve;
aOsolQte discretion as 20 whether they
you'd execute or not execute the law
ne money lords of the time %eru
oontrolers of our monetary affairs. Thes
ere the successors of the teudal lord.
the middle ages, but they did no
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