Savannah morning news. [volume] (Savannah) 1868-1887, 1886-01-13
CHAMPIONS OF SILVER.
Mr.. BECK'S SUBSTITUTE FOR
NfR. EUSTIS' RESOLUTION.

Ar Pugh Continues His Spaech Snd De-
,iarss that the Needs of Advancing
Property Demand Continuance ofthe
Double standard-Mr. Vance Eidicules
the Arguments of the MOnOmstsllists.
WAsHINGroN, Jan. 12.-Iu the Senate
IN day Mir. Beck submitted for reference
~ TIE Committee on Finance, substI-
tufa for Mr.. Eustis recent resolution,
which after preamble, similar to the
ureamble of Mr.. Beek's former silver res
olntien, provides as follows:
EesoJJed, By the Senate and House OF
CONSERVATIVES, etc, that the Secretary
of the Treasury be, and he is hereby di-
iacted in all payments hereafter made of
interest on bonds and notes
~ the United States and in the
purchase or payment of per cent. OF the
entire debt of the United States for the
sinking fund as now required by law to
nav out gold and silver coin Is nearly as
nossible in the same proportion in which
,o'd coin and certificates and silver coin
and certificates were received during the
preceding fiscal year for duties on i'm
u1rted goOds.
MIR. Beck said the Finance Committee
mad had Mr.. Eushs' resolution up this
morning, but bad not finished its con-
..daration In order that the committee
nav have the subject fully before 1t, he
asked reference of his substitute TO that
4 committee, and it was so referred.
NIB. PUGH's SPEECH.
Nr. Pugh then resumed his remarks on
the Beck silver resolution. The London
press, he said, had joined the money
Nngs OF our Eastern States in demanding
ofCOngress a. suspension of silver coin
uuap n fO
lad OF money but gold. Then indeed we
should have no God but gold, ana
no king but the national banks.
silver, Mr.. Pugh asserted, had not been
treated tairly, either by our public officers
or banks, but it had held up as well as 1t
did in spite Of them. Whenever silver
gets the same treatment as gold. under
a The natural laws OF supply aud demand, if
then it should not hold its own MIR. Pugh
would deem the controversy settled, but
n he had ne doubt that silver would come
Il out right in any case. Mr. Pugb ex-
rressed his willingness to support any
change in the existing law that would
Withdraw any paper currency under $40,
or even $50, so as to give the entire field
for use of small bills or small change to
silver and silver certificates. He advoca-
Ell ihe passage OF the bill heretofore in
reduced by MIR. George, which Mr.. Pugh
said would give national banks better
opportunity Of becoming acquainted with
silver.
A BOLD CONSPIRACY.
Mr.. Vance followed. He said the pres
emit attempt of the mOneyed men of the
M world to depreciate silver was one of the
H Tandest cOnsplracies ever seen. 1t was
tyranDical and cruel blow directed at
the common people of all lands. The
banner of the attacking party should bear
n plain letters the words Of the Holy
writ, 80 him that hath shall be given
ard from him that hath not shall be taken
aWav. even the little that be hath.''
After considering the question of the
whole amount of money in use in the
world MIR. Vance went on TO show that
growing commerce and increasing popu-
alton required increased money facilities.
The Increase OF our population, he said,
II was per cent. per annum, and our
WNnalufactures 2H per cent. The mines of
+ Nhe world were yielding only Ia per cent.
81 9cr3ase on the present money supply,
't we were told that we must Obliterate
Il ~ per cent. of the money supply, that
being the ratio of silver in the worlds
stock Of cOir.
CALAMITIES PREDICTED.
The success Of the efforts against silver
would result in the greatest industrial
Eoaiamities. Every species of property
would shrink, the only exceptions 10 that
result being gold aud debts, which would
be increased to the extent to which prop
Wofly would have shrunk. Every public
redltOr, Mr.. Vance said, took our silver
loiar gladly, except only the class that
1stlnctiy and solemnly agreed in writing
NJ 10 take it. But we were told
pat silver had gone down. This
Was not so much true as that gold had
lne up. Mr.. Vance read from the late
naneial reports OF the Havana markets
is % oil JoTI
were at premium over the silver coins
England and France. In the course Of
economic reading, he said, from Moses
sunset Cox laughter, he had never
et case so weak as that made now by
ae enenies Of silver.
NEVER KQUALLED IN oRAroRY.
He had heard many cases argued in
n19iooy clubs and in crossroads de-
"Hng societies; he had heard pleas made
9p the tail-end OF gingerbread carts,
ny lad read endless patitudes in the
aeressiOnal Record, but he had never
or seen worse abuse Of logic or a
per attempt to outrage common sense
40 lAe arguments used by our bankers,
9ldnoders and gold men generally. in
? discussion OF this silver question.
ht iapacity Of avariCe, he said, was so
puSnant to the moral sense OF mankind.
ai"ays sought 20 disguise It's ugliness
assuming the garb Of virtue So. the
hdnoders aud bankers told us that they
Anteq silver coinage stopped, not for
e~ own sdyantage-oh, uo-but
the sake OF the poor
rang man whom they preferred
aeir own chiefest Joy. MIR. Vance rid
Ii-l this pretension, and said the war
YER was in the interest, not OF those
no Iaoor, but Of those who speculate in
ucF.
THE FAILURE TO CIRCULATE.
reply to the statement that the peo-
would not take the silver dollar. aud
Wien Issuedit bad always come back
'Ae treasury Mr.. Vance coutended
o Ine law required our officers 10 pay
R. and, II IL came back, " pay II out
~. 10 tue officers OF the government
zone their duty ana complied with
avs there would have been
WAculty with the silver dollar.
bad refused t0 paw IL
acre never had been another in
.t Ia our history in which our officers
Ho boldly taken on themselves ahso-
'eeietion as 10 whether they would
'''d not execute lho law. The
lofus of the time were the real cou-
.- "l our monetary affairs. They