The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1890-05-15


entire confidence in the honesty, the purity
and conscientiousIes of the mode of the
present secretary of the treasury, but said
that as none of the secretaries for twelve
years past had coined a dollar of silver
more than he was compelled by law to do
so the future secretaries might con-
scientiously deem it their duty to
keep in circulation the least possible
amount of the proposed treasury notes and
thus the United States money might in eff
feet become mere purchasing agent for
the East India company or for syndicates
Of English merchants wanting bullion
cheap in order to make their payments in
India. In conclusion he said: Il predict,
Mr.. President, that the restoration of its
silver to its birthright will make an epoch
in the history of the republic.
1t will place in circulation an
amount of money commensurate
with our increasing population
1t will give assurance to our langnishing
industries that the volume of our clrculat-
ing medium is not to continue shrinking,
and that the tendency Of prices shall not
longer be downward. 1t will increase the
wages of the laborers and the prices ofthe
products Of labor. 1t will reduce the price
of bonds and other forms of money futures,
1t will tighten but not inevitably the bur-
dens of mortgages. 1t will increase largely
though injustly the debt paying and tax
paying power of the people, 1t will
loosen the grasp of the. creditor from
the neck of the debtor, and this it will ac-
complish, not for the United States alone,
but for civilization, for it is not too much to
say, Mr.. President, that upon the decision
of this question depend consequences more
momentous than upon any question of
public policy within the memory OF this
generation; in broader sense than any
other question attracting the general at
tpDtinn Of mankind II 10 pnaSt;Dn Of
civilization. 1t embodies the hopes and
aspirations of our race. The act of con-
gress which shall happily solve it will
constitute a degree of emancipation as
veritable as any that ever freed the serf
from thralldom, but more universal in its
application. 1t will proclaim the freedom
of the white race the world over. 1t will
lift the bowed head of labor. 1t will hush
the murmurs of toll. 1t will inaugurate
the true renaissance-a renaissance of pros
perity. without which industry, learning,
science, literature, art are but apples of
Sodom."
Senator Jones today attracted the close
attention of senators of both sides the
same as he did yesterday, and at the close
OF his speech was, warmly applauded.
Senator Jones of Arkansas next addressed
the senate in criticism of the pending bill.
He said the bill as it stood should meyer
become law but should be amended by
making provide for at least the unlimited
coinage of silver whenever the price
reached point at which the government
ceased to be purchaser. After further
debate the bill went over till tomorrow, and
after executive session the senate adjourned.
HOUSE.
After the transaction of some routine
business the house went into committee of
the whole on the tariff bill.
Mr.. McMillen Of Tennessee moved to re-
move the duty on ammonia. He could see
no reason why this article of necessity to
farmers should be so heavily taxed.
Mr.. Mckinley of Ohio opposed the
amendment, and stated that since the tariff
had encouraged competition in this coun.
try the price of ammonia had been reduced
from 20 rs cents pound.
Mr.. Butterworth, of Ohio, suggested that
while he knew nothing of the case under
consideration, if an article was not reduced
on account of competition it might be re- |
The conflict of 1883 had not |
been on schedule rates, but on an economic |
policy. The Democratic policy was that |
the tariff should be levied for revenue only. |
The Republican policy was that the tariff,
whether high or low, should be so
adjusted as to esta blish, cherish and pro
tect American interests and industries
III OlupcUlJlOll Will UllG IcoU VI ebC WOllu |
The committee had tried to do the best 1t
could in framing the bill, but it was not al
ways safe to rely altogether upon the testi-
mony of beneficiaries under the law. APP.
Dlause on the Democratic side. Of course
ne respected the wisdom of the committee,
out why was Paul favored and Peter turned
lown? Why increase the profits of certain
classes? He could name capitalists whose
profits had exceeded those of all the
lgriculturalists in many States of the
Union. Applause on the Democratic side. !
lie was not, he said, disturbed by the ap-
,lause on the other side. He was exceeding
y grateful that they began to realize in any
ense that our countrymen deserved pro-
ection. If when we had projected equally ]
nd lifted up all our industries and the
ime should then come when we could not
lold our own-being the most intelligent,
reest and ablest people on earth-then we |
lad better retire from the field. Democratic !
pplause. There were some things
II the bill he said he did not {
ike. He had known of an industry that {
ad been able to make sixty million dol
ars dividends on capital of $4,000 under
rejection. He favored proper protection, y
ut these men held the world in their grip ,
When he said he did not favor that kind of q
he was told, "you are not sound =
n the tariff" The time is cone when :
0me little attention should be shown to =
.merican homes and American firesides.
Mr.. Millan's amendment was rejected.