, 1890-06-07

WASHINGTON, June 6.-Mitchell
moved to reconsider the vote by which
the senate passed yesterday the bill au-
thorizing the construction of a railway
bridge across the Columbia river near
Van Couvre.
The silver bill was then taken up and
Plumb addressed the senate. He be-
lieyed it was all but the unanimous opin-
ion of the people that a very considerable
increase IN the volume of currency was
necessary. The circulation today was
S240, 00O, 900 less than the trainers of the
financial legislation OF 1875 anticipated,
although the commercial business of the
country had doubled within that time.
The total amount of money which the
people of the United States had for the
transaction OF daily business could not
exceed 5000, 900. 900. He believed it less
than $500, 900, 900 and upon that narrow
foundation had been built an enormous
structure of credit, propped up here and
there by devices of various kinds and it
kept swelling and growing. while the base
upon which it rested did not grow in
proportion to the structure. The senator
from New York (Hiscock) had yesterday
described the great wealth and prosperity
of the country, but if the picture were
true, why was it the senator and his com
mittee (the finance committee) were piling
up protective duties. His (Plumb's)
idea was that not only should the vacancy
of national bank circulation be made up
but there ought to be added to that at
least as much as would result from the
free coinage of silver. He was willing
to abandon his idea in favor of fiat
money, and to widen the base OF the
credit structure by adding to it all the
silver hat the United States mints could
turn out. According to the best data
there was less than SOC, 600, 900 worth of
silver mined every year In the United
States. OF that sum $50, 900, 900 was
coined. IS, 000, 900 used in the arts and
only $l7, 600. 900 could be used in free
coinage. 1t was to be remembered that
the national bank circulation was being
every day retired. the amount to be retired
this year being $15, 900. 600. Plumb
went on to speak OF the silver bill in
connection with the question of protection.
The senate was appealed to Yesterday by
the senator from New. York (Hiscock)
against the bill in the sacred mann of pro-
lection. Silver was an American product
"A much larger product than many 9th
ers which were to be protected by duties
of 200 or 800 per cent. under the tariff
bill. He would like to ask the senator
from New York who was so anxious about
foreign commerce. what he intended to
do with tie tariff bill, which would pre-
vent the United States from having any
foreign commerce. He hoped he might
interpret the senator's remarks on that
point as a hopeful augury of the action of
that senator in putting his knife
into the bill now before the finance com
mittee. A bill which would raise the
price OF nearly everything used BY the
masses of the people.
The silver bill was then laid aside and
the senate took up the bill to authorize
Marcopa county, Arizona, to issue bonds
in the aid of railroad construction. The
bill passed-yeas SO, nay Is. 1t is a
house bill and was passed without amend
ment.
A message from the president relating
to the landing of an armed force from a
revenue cutter at Cedar Keys. Fla. was
read and referred to the committee on
judiciary. Adjourned.