Morning journal and courier. [volume] (New Haven [Conn.]) 1848-1894, 1890-06-13
THE FIFrY-FIRsr oovGaEss

THE FIFTY-FIRsT CONGRESS
Further Debate on the silver Question
In the Senate - An Address by Mr..
Evarss Of New York A Review of
the History OF the Precious Metals
An Urgent Deficiency Bill Passed In
the House.
WASHINGTON, D. c., June 12.-Mr. Flat
gave notice that immediately after the con-
sideration Of the silver bill he would ask the
senate to consider the bill for the admission
of Wyoming as state.
Mr.. Davis presented the conference report
on the dependent pension bill. After some
debate the report went over and was ordered
printed with the bill as agreed to by the con-
ference committee.
The senate silver bill was then taken up
and Mr.. Evarts addressed the senate. He
said that as the senate approached the de-
oision of that important measure he felt
great solicitude that it should be properly
disposed of. He had felt very confident
since the opening Of the present COM
gress that congress would be brought
to an actual, deliberate and al
most conclusive decision on the question.
He was not disappointed in that. Measures
and views had been presented to congress BY
the executive and by the head of the treasury
which had formed in a certain degree the basis
of discussion and of the concurrence or diyi--
sion that had marked the progress of the de-
bate and of the results which had been
reached in either house. A comparison OF
the bill as it passed the house with the bill
as reported with the same amendments OF
the finance committee brought the divergen-
cy of opinion within substantially narrow
limits. He meant the free coinage of silver,
IL l. sA4I nkAc
to the bullion of the world, step of much
gravity and which would have wide
consequences whether of good or eviD, a
step not easily evaded and almost irretriev-
able. After philosophical review of the
history of the precious metals, Mr.. Evarts
brought the matter down to 1878, at which
time, he said, the two metals were and had
been since 1903 on q parity. It was no law
of trade or nature that broke up that par
ity. It was the wit and the wisdom of man.
The two metals had been throughout the
worlds history found tied together, their rela-
tive value being fixed by comparison Of the
labor needed to bring them into existence.
Sixteen days, Of labor, for instance,
were necessary to produce as much of
gold as one days labor could pro-
duce of silver. But something happened in
1878. Silver was then worth in the market
Sc pence, which was par with gold. In 1878
it had gone down to 80 pence, in 1881 to So
pence, and in 1885 [when the bottom was
reached) to a pence. What stupendous
event in nature, he asked, had produced that
sudden changee What freak had produced
that disordera Nothing whatever but the
folly of men. Not satisfied with the wisdom
the experiment. of demonetizing silver, and
they had done so when all the legislators in
| both houses Of congress were in hypnotic
condition. There was not one Of them wide
awake, and men ought to have been wide
awake when they were acting upon the
money question of the world.
He characterized the act of 1878 as g
"murderous thrust" at silver and said that
every blow under which silver had shrunk
and covered was a blow of positive law.
And yet the argument was made now that
| the effort to re-arrange by law, the ratio
of gold and silver, was like trying to put
the physical body in the space occupied by
| another.
After review of the international COZ.
ference on the question of silver tout Of
which nothing had Gomez, he said, that now
| for the first time in the progress Of the mat
| ter Of redress the question now confronted
the republican party, which had a majority
in each house and had the control of tn,
| executive power. It was for that party tt
determine that the interval of 1assitude ant
of delay should be no longer extended.
NAT; vance next addressed the senate
Mosalns was oe1.el estaDnsneo, ne SAD, tnal
me 1acs ot Ihe necessl1y OF more money 70
me ProsI .n ana progeny OF tne country
Is Msn.sn vt sno w gu nao laelsaseo ten
lolo Within tne lass n1ty years; ana the OUT
| put of the precious metals has kept pao
neither with the growth of wealth nor tn
poHpiaaon' In consequence OF THIS oe
nclsn. cIIcutation tne prices OF All proouct
MeLe loweI ehsn tney e'er mao peen peIore-
aNnouSn the pflees OF wages nad kept un
0Mng 20 .aoor UNIONS ana osner causes
Ano.e Mno nsu sunetea mess iron the oe
psv a " ~, y, snser "e me- .ne sgr'eu.suis
JaSt.S - th ne ;e .her Ae .a were
~ - ;.eao, was Nv ala stsen
~. wy y. ;nSAoesi"s Sno olouia't S -
1so pfopol,ton " 'nen were ooU U,l
e.,e h Daahsup.uy a." 1aa., .utn ~
ea.iA aHW nau oou ~ e laigeiy " tne ~
possl@nme sn, .. 'ne IsfM 1 sy its oPeia.lu
10 tne IessIlc.ion OF inc Ioleign MsIk g
lug .nsaAese plon.eI, eseI psouuosu wa. :, VI
lilly wne. sno "eai. IL "Ia BUSINESS II
suo VI" sI No" s.t,. sossa .eI "s
.nHS .ao,.;n .S 20 80 anp .harIa "s. "
~ a ~ az .st,o y. ~ ~. ~ 49, as
at.ts th.t h $3.50 ~ ,ri;,.;tsd so,,
age of silver money and the restcration {
. silver as it was before it was demonetizst
He believed that IT was only question
sssa' anI ;na'; +, o,sn,n, .ha do n."',
: the unlimited coinage Of silver, the cen
, meroial countries Of the world would folio
. the example.
.,oni:riv q, raf.ranca 10 tha uosdraants pr =
ported by the finance COMMITTEES. His pos
ton on the subject of the free coinage
silver needed, he said, no definition. tt
very first address which he had made in tt
: senate had been In favor of that proposition
and he had no occasion since then to cham
: his attitude on the subjest. He had felt the
: and still felt that he was Obliged as q senat,
: | to furnish to the people of the United Stat,
gold and coins of silver without discrimin
, ton between the two. He did not claim
know much about commerce, bat
. appeared to him that II the Unite
a States should take the lead In tn
q matter and restore silver as money met
!. commerce would be stimulated, more album
ant crops would be produced, more abundal
fabrics turned out in factories and the
i. | would be an increased activity In the O.
q changes of these products and commoditie
3 Without concluding his remarks, Mr.. Nc
: gan yielded to motion to adjourn, and Il
l 4dI0nrn4d tOsm0Tr0w.