New-York tribune., 1886-07-31
THE TREASURY SURPLUS.
PASSAGE OF TIE MORRISON RESOLUTION.
eySATORs SPEAK 10 EMPTY sEArS-lMPokiANi
AMENDMENTS MADE.
rBY TELEGRAPH TO THE TRIBUNE.


the Finance Committee with clause now
ever. added, witch provides for inc reue'Iiuo"
Mt their face value OF ali outstanding ira dollars i"
important provision. offered by Mr. seweI OF ''o"
jersey seriously endangers chances OF the measure
in the House and makes the final disposition o' 'no
resolu.on at or Congress at least extremely
doubtful. The discussion to-day was eon'ihucu "
Ne.srs Teller. Vance. GormaD. Gibson, tai' 'N'
Bnter and others, but their remarks were io' Wv
most part addressed empty galleries. and even Oh o
fear the chamber they had only few Nslene's, '
heat being intense and the sliding atmosPhcro VI WV
chamber driving most Senators 20 the CLOAK roo"~
Nh Teller in his speech reeorred to the oues'io" ~
him yesterday by Mr.. George "a to whether no N"'"
any method OF compelling the owners OF money " "" "
I'm circulation lie had answered that question ID 'ne
negative. Iffs however apphed 10 pa'A' an
individuals II did not apply TO the Government Ho
ferring TO his remarks Of yesterday az 10 eo"'p'
on the part o; capitalists to enhance ''0 ''0
he said TINT this was not the idle assertion OF
men VINO felt that the afsrs OF Government h" ho.
been administered wisely. Ia every part OF ne woriu
,hera WAS to-day the same complaint OF
.,.,,a In business Of depression
T., all sorts Of enterprises there was standst, no new
,oovcnen falling prices in Europe as vol as In ths
o,antry He attributed ths to the fact that few years
.co an effort was made hnd was stl suiiously madc)
N ALI the legislative governments OF the world TO de-
stroy onehaf the money of the world In order TO en-
nance the vaue OF the other half lie quoted from The
Bsnkcys Magazine TO show the depreciation In the
prces Coffee sugar, tea IRON, WOOL Othor
polities and the equivalent appreciation OF Govern
ment securities all over the wordn proof OF the asser
tons which he made yesterday that the "a cent dollar
wpuld huy more 0; what men ate anl drank ana wore
Than the 100 cent dollar could twenty years ago.
aul that tho money longer put
in business enterprises hut in Government oohus
Ii the Government 1T and aole to pay gold LOT
its bonds he had no objection lie had demanded moth
iag Tor silver which he had not demanded for gold Tie
wanted To keep the two metals on an equality because
IN his judgment would be as disastrous 10 destroy
gold As to destroy silver But he said that the Govern
nen could pay this 900 for bonds at tho rate
Of millions mouth without paying one dollar IN
silver That is II 1t choose to do so. II the
revenues Influenced by the past IT womb
only be necessary to draw from rom, ,no '9e ne
inand required by ire resoiution-Sl000OoOOam monih
Mr. Vance said that the resolution, as came from te
the country learned IN the ecnicallties Gf hn.nSe
sioyernment should pay its debts from money
hand That course was the paincst Indication OF com
trouble himself to inquire whether tie Joint reso,
luton would or wOuld not I've n,.,re,,o" .".e "'
Hs was constantly told that this his administrations
that ne had to poWsr ahn hs A. a cnSrr w@r
had had for quarter ola century II was ehtitis' TO
1nr 1nrv ira The Admnraton was emitted should
have his best support In all things bat not AZ inc ch
ne desired TO be All honest man as wei as De'noei"
e suSneF on re hs pTsonen a. ameudea He
hld hoped inat when his party came into rowe IN The
otncr braSc6 Of Congress they would substantial
aecori. lie explained and euogizei the act OF ocrc-
july lss5 The necessity for it was tnat the Treasury
reserve of $lOo.ooaooo was at that time tweny
for the payment OF greenhacks, tho Government
a m ssys that sse% many sadns had
practically in favor Of fiat money and that som OF ther
lean, had started He glad to however. mat
Tie time past;when that heresay was connncI 10
4 he
showed that it was also share b., some Eepuoii an
Missouri MIR ve.O say yesterday that the financial
question was to be question between t1e lSs' ana h
false prophet He asked his Democr SIC friends Why
should they condemn even ny np1cau2n orc n o 'nr
oc als who had had the COURAGE 10 do 'nat wnen VA
night aud which he WAS authorized to 90 under 'e
Mr. Cpke-Do you think IT would have been an i'm.
proper thing for the Secretary OF the treasury 10 pay
sc,d ! stand pre,i.ely Where my party stands. /
.,ani by the Gecaraiioa. the Chcaso platform in
favor OF honest money 49,,
Mr.. Coke-Do Won believe the silver dollars In the
IrelsuIy are honest money"
Mr (i9rinsu-Ieealiy, yes. They male by law a
resaect ~ ;be law Eut does not ny -lrnd from Texas
legal tender will never make the people believe "a III
Their iaIinsc value advances tat they are as goOl A.
colt The country knows and tbe world knows that
the srual value measured ~ gof OF The syern one OF
these dolar is to-day only .-yen;ytwo cents. Mh.n
Gates fot an the orhsry p,po'ys ,S S o;
Tot condolences in the .iver cerH,stes Thry preferred
,ge worS og cents
Mr. Coke Do you consider ihe silver dollars IN the
Treasury honest money in tie sense in which that
phrase IA used in the Democratic piattormf
Mr.. Gornan-So long ~ the law renainson the statute
hook declaring tne,1 Swfal money as
Mr.. Coke-Are they honest money ,.-....
MIR Gorinan-We are bound to assume That Congress
ie the silver dollar honest money but notWl Il
esp sTans lns 1er s1s god Wien Mr.
Maunny took possession Of the once there was great
butbt sacfio hy kepfN Yer
tsn n,s and ssrved the theories Of tie
silver men at the same time tina, he served
the country. Hence say Il WIN not use ., "a
ia, It il extraordinary at lees. to pass
resolution condemning his policy ask the senator
Cherc not being sufficient gold and grcsnbacA. In 'hs
Treasury, he wond have been In favor goo eeins
OF the Government IN coin which would not be re'ptS
than us intrinsic vaue-seventytwo cents
Mr. Coke,In the fret place the senator. M
yer-i. Impossible In the next place f. 10 nv
judgment the duty Of the secretary OF the Treasury to
l. pay just such dollars as he has in ne
wSslns5 svsT or so 0P 'fe er
lido not believe thai the Secretary OF he Treasury hs,
Mr. McThersOH~ln tho view which YOU take would il
he for tho Treasury TO maintain the parity
or equality OF the two metals as to make them notf
"honest money IN the true meaning OF tie Chicago
Mr. Coso-T think there are honest money without
"UakinH Dy Inc secretary OF tIt IIfdhufy'
think they already " honest money "-made 50 by
facts with which the Secretary Of the Treasury had moth
fngIn the world 10 10.
Mr. MePhersOn-lf the Senator has An obligation o.
81 900 due to him by the Government would he con
sier THAI being paid In silver dollars worth 1nrin
slcay ~ cents was a payment IN honest money" II
tne meaning OF the Democratic platform I
Mr. COke-I do not accept the Senator's prOpositOr
that there l. dollar the Treasury worth ntrnsoally
l.ss than auy other dollar. That Ia where he and
oirer | think the silver do liar worth intTlnsl
a Just se %pfs GSar "a hon.s The o.. s%a a@S SG tar
Senator. from NewJersey and Nary regard Il
Mir McPherson-And Goes the Chicago platform
NJ t,crlnar-Ihe senator from Texas ami | are ~
scrprd on one thing at least on this quesuon-not y
jerI.ate TO Iclude from the Treasury of the United
states a suriceHt amount OF sod 10 Keep 'Io tF'
metals SIDE by aide.
MI Coke-NobodJ has ever proposed th@t. -
Mr (OrIAn-But the fact Is tnat wbearNeryou tel'
mi MT L certNcAlrs, NhlCl