The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-02-04
FORTY.NINTH CONGRESS.
BLAND's SILVER RESOLUTION In
THE HOUSE.
The Relations Between the President
and the Senate Again Discussed
The Dakota Bill.

Several communications were laid be-
fore the House and referred, among
them one from the Postmaster Gem
eral In response to q HOUSE evolution
calling for information a. 10 what
changes should be made In the law
regulating compensation to railroad
companies carrying the mails.
The Postmattsr.Genersl states that
up to the present time he has BEE n
unable to form any clear opinion as to
what changes should be made in tho
law. At future day, he states, he
will be able to lay before the House
all the information which inquiries
that have been instituted and are ap-
preaching completion will afford.
Mr.. Band Mo. from the Commit
tee on Coinage, Weight aud Measures,
desired to report back the resolution
offered by him on Monday last, call
ing on the Secretary Of the Treasury
for cei tain information relative to sill
yer circulation.
Mr.. Morrison III ], stating that he
wished to examine the resolution,
made the point that il was not accom-
panied by report as required by the
rules.
Mr.. Bland withdrew the resolution
for the present later in the sitting
Mr.. Bland, having prepared a short
report, Rgain presented his pre-
amble ard resolut 90, which, as
amended by the committee, read ns
follows:
Whereas, ~ the convention OF the
American Bankers Association, held
at Ohicsgo, Ill in the month OF Sep
tember, 1885, Mr.. George 8. Doe, q
member Of the Executive Council OF
ssid association. and the president CT
the American Exchange National Bank
Of New York City, made in an address
delivered b. fore said convention the
following ttatement, namely: "Under
these peculiar circumstances (referring
- assumed dangers resulting from
the continued coinage cf silver the
new government came into power.
II was ~ once confronted by
the peculiar difficulties surrounding
the Treasury Department. Like his
predecessor, the President clearly APP
preciated the magnitude and immi-
nence OF the danger, and in the interim
before the meeting OF Congress he Is
taking as efficient steps as are practical
BILE under existing law to save the ma
ton from being precipitated into the
deep abyss OF financial Diet ,riorstion.
His Temporary expedient Is both sim
pie and ssfs. The law requires the
Treasurer 10. purchase not less than
$e00, 000 worth OF silver bullion per
month and coin into dollars. But he
10 required 10 pay them out only when
necee airy. To avoid the necessity the
Treasurer now confines his disburse-
msnts TO strictly legal demands and
refrains from monthly payments as
hitherto tf the funded debt. The sur
plus revenue supplies requisite means
not only to purchase the monthly
sums OF silver bullion required by law
but also TO withdraw q sufficient
amount Of silver certificates issued
upon previoHS purchases to overcome
the excessive accumulations which
20 .perplexed prior administrs-
tons. This will stfsly hold
the situation until Congress
aball convene. The temporary danger
which existed until the income thus
overlook expenditures was satisiac-
torily arranged by concert with the
Clearing Houee Committee in New
York, Whole earnest Efforts at tba.
critical moment to preserve the gold
standard were enlisted in behalf ci
the commercial community, which II
10 their function to specially represent
and whereas, near the close OF the
second session Of thu Forty-eighth
Congress, II wit, on the Goth day oil
February, 1885, this House refused by
decided vote to consider then
pending proposition looking to sus
pension OF the coinage OF silver dol
lars; Therefore, be 1t
ResoIved, by this House, thai the
Secretary Of the Treasury be and il
hereby requested TO inform this House
whether or not any such arrangement
was effected by the management o
the Treasury Department with the
clearinghouse Committee in New
York, or any o.her ass ooiation or pei
son, as alleged in the eaid address o
Mr.. Coe, and II 20, by what authority
such arrangement was made ant
carried out; and further, u inform
this House what amount Of silver dol
lars were in the Treaiury on the 4tl
day Of March LOST unrepresented b,
outstanding certificates, and wht
amount OF silver certificates now il
circulation, what amount of said dol
lars are now in the Treasury unrepre
sented by outstanding certificates, ant
what amount OF such certificates j
now outstanding; fl30, what amour
OF silver dollars were in the Treasur,
on the 4th day Cf March last tina
could have been applied in the pay
ment Of the interest-b e airing debt ant
other dues OF the government, ant
what amount OF such DO lars are nov
held in the Treasury which could be e
applied; also, what amount OF silye
certificates are held in the Treasur.
that could be reiFsued; also, wha
amount Of interest.bearing debt Is nov
subject to call, and will the same poll
cy be pursued in the payment Of silve
coin on public dues in the future a
In the past.
After debate Mr.. Hewitt moved
recommt. aud on vote II was lost
yeas SO, nays les and the rssolut;0
was adopted.
A wordy collie guy here ensued be
tween Mr.. Brady IVA on persons
mattsrs, aud several other member,
which was fually cut snort by tn
Speaker, and the House proceeded t
business.
Mr.. Morrison I'll ON the Con
mit.ee on Ways and Means, reporte
resolution calling GA the Secretary
the TrCa1ury to report TO the Hou'
the total amount applied 20 the sinl
ing fund between June 80, 1884, an
July ], 1885, and ur der what dates AZ
In what several amolLtI the tame WI
applied. Adopted.
A number ( committee repo Tts we
submitted, alter which the House,
Committee OF the Whole, Mr.. Crii
[Ga in the chair, took up the consi
Grafton Of the bill 10 abolish 'erta
fees for official services to Ameier
vessels.
Pending action the committee ros
and the House again resolved itse
into committee, Mr.. Hammond [Ga
in the chair, on the bill relating to Il
r -