Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1886-01-21
PORTY-NINTH CONGRESS-.
SENATE.
WASHINGTON. Jan. 20.

I OF the treasury relative TO allegations OF con
tractors that certain contracts for public work
we're let TO employers of convict labor.
Mr.. Morrill, addressed the Senate on the
silver question He be an with the remark
that the elaborate speech of the senator from
Kentucky, Mr.. Beck, seemed TO throw the
burden OF reJoinder on the friends of the ad
mInistration. | do not mean, he continued.
/ to encroach upon the privileges which so
/ many democratic senators appear eager 70
/ ENJOY. OF coming to the rescue of the presl-
/ dent and secretary of the treasury against the
/ rather cruel attack made upon cardinal
! measure of the administration, as | know the
fall of those who venture to interfere with
/ family quarrels, but this measure by which
/ silver might be maintained on par with
gold, so worthy of all acceptatiOn, | fear will
not have, after the hot DE- m0nstration of the
recognized leaders OF his party in the Senate
against 1t, that unanimous support to which
It may be fairly entitled. There are no par
ties IN the Senate, or out of it, that propose,
or have any wish 10 demoralize silver To
charge otherwise is a baseless assumption.
Everybody is anxious TO keep as much of
silver In circulation can be done and keep
IL al the same time at par with our gold
coinage. The only hostility to silver arises
from what seems to be II fixed and passionate
purpose on the part OF some of its advocates.
to promote such an excess of silver coinage
as will drive the gold coinage out of the
country and leave our vast trade based on
! silver only. In reaching the position OF sill
yer monometalsm il is impossible TO be
blind to the disastrous contraction of the cir
culating medium of the country that would at
once occur.
MIR. Morrill, insisted there was no war upon
silver, but that in substance and etfec.
de uation of war had been made on gold bv
the esders of the democratic party in the
Senate from the pleasure which the senator
from Kentucky had evinced in delivering in
the Senate his antagonlsm to the president
and secretary OF the treasury. 1t seemed to
Mr.. Morrill, that that senator had been for
moment under the delusion that he was still
belaborlng With the left-haDded compliments
! of some republican pres sident and secretary.
but SIR. Morrill, could look on With c0meos-
ure confident as he was of the Survival of
the fttest." His (Morrll's) conviction that
the continued coinage of silver could drive all
the gold out of the country based on the
past experience of all civilized people; that
inferior money never failed to expel superior
and on the fact that our own silver mines
furnished more than one-half the annual sill
yer yield of the world. Our yield IN 1881
WAS S4S ,000. 600, which added to our imports
(Sl7 900, ,000) made $50, 900 900 This was
more than we could practically absorb and
all not used in coinage must find market
abroad. Large and frequent sales of the sur
plus would establish the commercial value of
silver. The exodus of gold, however, would
not be likely to appear with much force until
its shipment became frequent or until it com
manded a premium; but th- large return OF
American securities from abroad. affecting
foreign exchange adversely or any great COM
cial 1isa. RI ,hicb ha ,rlI
never exempt, might suddenly produce this
exodus of gold. BY the report of the United
States treasury, Mr.. Morrill, continued, it ap-
pears that there is somewhere in the treasury
) So, 735, 900 of standard silver dollars which
we are struggling to find how and where to
safely store until by some miracle they can
find more favor in the wicked world. The
percentage of these dollars in actual circua-
ton outside of the treasury has been con-
stantly growing less since 1881 being then
30S per cent. and now only 1873 per cent
We have coined over 2l5 1000, 900 and have
only been able at any time through much
cost and tribulation to getenot quite 50,00O,-
600 of them into spasmodic circulation. Peo-
pie do not like to lie compelled by law to
carry it. We do not receive silver our selves
with any praiswotthy cordiality. Our con-
dition is like that of one of our distinguished
humorist. who, in our late war wouldn't en-
list himself but was very willing that all of
his wife's relatives should Mr. Morrill,
characterized the old time democratic party
party of infiexible hostility to paper
money and devotion to gold, and asked why
the financial principles of Jefferson and
Jackson were now denounced. Ii could not
be said there was anywhere any reluctance to
paving the ages of laborers or pensions of
Union soldiers IN a dollar worth one hundred
cents. He criticised Mr. Beck's reference to
protective tariff and American shipping He
insisted that the farmer of this country was
protected, almost all farm products being
covered by tariff, even peanuts not being for
gotten. American money was not invested
in shipping Mr.. Morrill, said because a more
profitable use found for it IN other d.
rectlOns.
On the conclusion of Mr. Morrlls IRE.
marks Mr.. Beck said that he thought that the
country would think on reading Mr. Morrill's
speech that if that were the best that mono
metaili.ts could do and the best the treasury
could aid him to do their case was a verv
poor one.
Mr. Teller denied the statement bv Mr.,
Morrill, to the effect that l6j 900 900 of the
2l5, 10000 silver dollars already coined
could not be got into circulation.
The Senate at $40 went into executive
session and later adjourned
HOUSE.
In the morning hour Mr. Matson of Indi-
ana, on behalf of the committee on invalid
pensions, called up the bill increasing the
pensions OF widows and dependent relatives
OF soldiers from SIS to SIP per month.
Mr.. Morrison of Illinois moved that the
House adjourn. but the House voted the mo-
ton down, and the House went into a com
mittee of the while, with Mr.. Welborne of
Texas in the chair, for the discussion of the
pension bill.
The first bill on the calendar, however,
was the Senate bill for the purchase of the
old produce exchange building in New York
city. and Mr.. Synes of Colorado receiving
the recognition of the chair, he stated that
that was the precise bill he wanted to talk
about and Immediately proceeded to deliver
speech in opposition so the suppression of sill
yer coinage. He indicated the assertion
made by the President and secretary OF the
treasury that the SILVER dollar could not be
made to circulate, and declared that the
coinage and legal tender laws had been vio- /
lated by the government. Admitting for the
sake of an argument tn at the super sensitive /
idea of the secretary of the treasury justified !
him in paving all the interest of the bonds in
hot fbara for