Morning journal and courier., 1886-01-21
FORTY.NINTH CONGRESS.
WASHINGTON, Jan. 20. 1886

in relation to the employment of convict | labor by the contractor on the public build ing at Peoria, H.; also for copies of protests of labor organizations against the employ ment of convict labor upon public works | and of other contractors against giving con- | tracts to employers of convict labor on gov | ernment works, as the contractors employing free labor could not compete for the work; agreed to.
 MT. Morrill, then addressed the Senate on the silver question. He claimed that there was no party that proposed to or had any wish to demonetize silver. Every body is willing, nay anxious to keep as much silver in circulation par with our gold coinage The only hostility to silver arises from what seems to be fixed and passionate purpose on the part of some of it's advocates to pro mote such an excess of silver coinage as will drive gold coinage out of the country and leave our vast trade and commerce based upon silver only. In reaching this position of silver monometallism it is impossible to be blind to the disastrous contraction of the circulating medium of the country that would at once occur, for when the moment arrives that gold commands a premium it will all be held as a commodity for sale, not for circulation, small, or 8 five per cent. premium being productive of universal boarding twenty-five per cent, and no possible advantage to our people could be expected from
 
 pie of India Mexico in utilizing silver currency only. MT. Morrill, insisted that there was no war upon silver, but that in substance and effect declaration of war had been made on gold by e leader of the Dem ocratic party in the Senate. From the pleas ure which the Senator from Kentucky had evinced in delivering to the Senate his antag onisms to the President and the Secretary of the Treasury, it seemed to MT. Morrill, that that Senator had been for the moment under the delusion that he was still belabor- ing with left-handed compliments some Re- publican President and Secretary. But Mr. Morrill, could look on with composure, conf dent as he was of the Survival of the fit test" His (Mr. Morrills) convie tion that continued coinage of large amounts of silver would drive all the gold out of the country was based on the past experience of all civilized people, that the inferior money never failed to expel the superior, and on the fact that our own silver mines furnished more than one-half the an nual silver yield of the world. Our yield for 1884 was $4S 900 000 which added to our imports GS317 1000, ,0o0) made $65, 900, 900.
 Upon the conclusion of Mr. Morrills speech a running and heated debate took place in which Messrs. Beck, McPherson, Teller and others took part.
 MT. Beck gave notice that in due time he would reply to Mir. Morrills speech.
 MT. Morrill, said that he did not claim that stopping the coinage would advance the value of silver. What he said was that by stopping it for while we might claim the cooperation of other governments in coining more of it.
 MT. Teller denied a statement by MT. Nor Till to the effect that 165, ,000,0 900 of the 215, 900, 900 silver dollars already coined could not be got into circulation. By the same process of l0glc log 1t could be asserted that the ssoS ooo, GOO of gold in the treasury could not be put in circulation. The government MT. Teller said had made $20, 900, ,000 profit on the coin age of silver. They had no right to make a profit on coinage. The talk of the govern ment losing money on the silver coinage was all bosh and nonsense.
 Mir Maxey said the bankers had been do- ing all they could to bring about their own predictions and a little ring of them had been formed for the purpose of shipping little gold.
 The debate, which was characterized l throughout by great warmth of manner, then 1 came to close and the Senate at 2:40 p. m. went into executive session. At 4:50 the | doors were reopened and the Senate ad | journed. 1 HoUsE-In the morning hour Mir. Matson | 0f Indiana, on behalf of the Committee on | Invalid Pensions, called up the bill increas- | m the pensions of widows and dependent l relatives of soldiers from SS to $12 per | month. MT. Matson stated that the bill had | 'eceived the unanimous approval of the con- nittee. A very careful estimate, made less han two years ago by gentleman who was thoroughly familiar with the subject, show d that the additional annual cost to the government by reason of the passage of this pill would amount to something over 50, ,0OO, 100.
 Before action was reached on the pension Jill the morning hour expired and the House, ,n motion of MT. Watson, went into Commit ee of the Whole. The first bill on the calen- lar was the Senate bill authorizing the pur hase of the old Produce Exchange building n New York. MT. Symes, of Colorado, receiving the rec ignition of the chair, said that was the very Jill he wished to talk about He proceeded O deliver speech in opposition to the sus- pension of silver coinage. Mir. Symes ridi- uled the assertion made by the President md Secretary of the Treasury that the silver lollar could not be made to circu ate, declaring it a false outcry hat the people would not receive silver lollars. This cry made in the interest # bondholders. capitalists and monometal- ists who wished to demouetize silver. His criticism of the present administration ap- ,lied as well to past Republican administra- ions.
 The House was then brought back to the Produce Exchange bill. The House commit ee had amended the bill by appropriating 250, 900 for the purchase and S20O, 900 for lterations After some discussion the com nittee amendment was agreed to and the bill passed.
 The House then at 4:30 adjourned.