The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1890-07-13
YESTERDAY IN CONGRESS.

presented in the report was in the nature Of
compromise. II was not just such bill ~
he thought congress ought pass, but it was
bill that would answer the demands Of
the country. that would answer the de-
mands of the silver miner, that would
answer the demands of the agriculturists,
laborers and business men, of the country.
The bill would give the country at the
present price of silver an increase in circu-
lation of $57,780.000 year.
If silver went up to a parity with
gold it would give an increase of
$7O,00O,OCO. The last section of the bill un-
looked $40, ,0OO. 600 now tied up for the re-
demption of bank notes, making the total
increase of circulation in the next twelve
months $40, ,OOO GOO. This was republican
measure. Republican .applause.] The
pending measure had been agreed upon by
republicans only. It had been passed in
the senate by republican votes, and he hoped
only. It would then go where ~ would be
signed BY a republican, president, and thence
it would go to codhSfy that would give
such republican endorsement that many
gentlemen on the other side would not be
here to vote in the next codEfess. The work
rapidly toward the establishment of parity
between silver and gold. When c(Sress
met silver was 80 cents an ounce. Yesterday
it sold for 1O71. Since it had been an
nounced that the conference had agreed
upon the bill, silver had gone up more
applause Cutcheon, of Michigan, re-
Rarded the conference bill as vast inn
provement over the mOnstrosity sent here by
the senate, which proposed to make the
United States mint dumping ground for
all the silver of the world for the benefit of
pInk II ols
over the bill as originally passed by the
house, and would give the country the ad-
dltiOnal currency Of the ndotal and paper
for the uses of business. Herman, of Ore
gon, said he favored the bill although 1t
did not contain the fullest recognition of
metals. II was concessio1 on both sides
of the question, and was long step toward
free coinage of silver. He had no doubt
that after the fall elections there would be
g strong free coinage representation.
Bland, Of Missouri, concurred with the
would be q free coinage house; but that
house would be composed of those who ad.
vocated free coinage and stood by their
colors. 1t would not be composed of the
republican party which, by gag rule. had
voted down and stihed free coinage. II
.fron4s hat parry which stood nsm 70 the
flag Of free coinage, and which had
not surrendered its principles at the
beck of Wall street, He denied that
the bill was the result of a FREQ and
fair conference. 1t was the result of secret
meetings of the conferees. He, as conferee,
knew nothing of the measure until it had
been framed and the report ready to be
signed. The democratic members had been
ignored in the preparation of the bill. The
bill was one which practically demonetized
silver. It was sngar-coated quinine pill.
On first reading it seemed that the secretary
was to purchase 100000 ounces every
month, but when man rolled the pill
around in his mouth he began to taste the
bitterness of the quinine, cor SO much there
of as may be offered" There could be
traced in this measure stealthy Italian
hand. The bill surrendered every principle
of bimetallism. 1t surrendered free coin
age; it made combination with the bullion
spectators of Wall street, in the interest of
Wall street. It departed from the legal
ratio and changed that ratio from sixteen
to one to twenty to one. 10
change the ratio was to. pile up
at the expense Of the people and in the in.
terest of Wall street and bullion owners,
and he denounced it as fraud and cheat
on the people who were demanding ratio
of sixteen to one. The bill made silver
simply commodity to be measured by
gold, upon which money shall be issued at
ure might make small increase in circula-
tion, but would make it by concession to
the gold standard and the desertion of sill
yer. 1t was a declaration that congress
would not make any further fight for BIZ
metallism. It was neither a silver bill nor
greenback bill, but simply a political de-
vice concocted to tide over the emergency.
He denounced it as fraud and would de-
nOunce any measure rs a fraud which did
not provide for free coinage.
to by strict party vote. The bill now
In the senate Vest spoke at length against
sides ended in failure and scandal and il
lustrated his argument by reference to some
subsidized steamship lines. He predicted
of foreign commerce to the country. He
was followed by Stewart, who gave it as his
opinion that the plan proposed was the only
that free ships would destroy American
George then spoke in oppo sition to the
bills.
The tonnage subsidy bill was passed, yeas
%, nays Is: the only exceptions to strict
party vote were that Payne voted with the
Plumb with the democrats against it. A
bill and it was passed, yeas %, nays 16,
not voting. On motion of Morrill, the
tariff bill was taken up and made unfinish-
ed business.