The daily critic., 1890-07-08
Free Coinage Was Promised and is
Not Provided for,
WYOMING IS ADMITTED TO STATEHOOD.
Election Contests Decided in Favor Of
Sitting Democratic Members Some
Sense Of Shame Left.


coinage Of silver, but the conference
report absolutely did away with all idea
Of free coinage and continued, and was
intended to continue, the system under
which silver had been
PERs1sTENTIY AND CONSTANTLY De
GRADED
since 1873. He was anxious to see an
absolute parity between the two metals
as money metals. He would like to
see the time when sixteen ounces of
silver would purchase an ounce Of gold,
and when an ounce of gold would con.
tinue (as at presently to purchase sixteen
ounces Of silver He read the closing
clause Of the second section Of the con.
ference bill: "It being the established
policy Of the United States 10 maintain
the two metals on a parity with each
other upon the present legal ratio, or
such ratio as may be provided by law"
and asked why that declaration had
been inserted, why that
STUMP SPEECH HAD BEEN INJECTED
into the stomach of the bill II had
been put In, he said, for the purpose of
saying to the Treasury Department that
until silver came TO a parity with gold
It should pay out gold and the public
business should be conducted on a gold
basis. He, for one, would never vote
to maintain and continue that practice.
He had never been "a silver man" for
the purpose Of booming silver or of In.
creasiug its price. He was against that
and all other
FORMS OF SUBSIDY.
The conference bill might give an In.
creased market for silver; but the prin.
cipal for which the Senate voted-that
the two metals should be on parity
has been given away In that bill alb
solutely and completely.
Mr. Coke expressed HIS concurrence
in the conclusion reached by.Mr. Vest.
He could not support the conference
bill. The Senate couferrees had not rep.
resented the will OF the Senate, which
had been declared for the
PRE- AND UNLIMITED COINAGE OF sIL.
YER.
On the contrary they had assented to
bill which provided definitely for the
cessation of the further coinage of sill
yer at all.
There was no compulsion on the
Secretary of the Treasury to coin silver
after the 1st Of July 1891. Silver
coinage was then left to the
discretion of the Secretary, and such
discretion was equal 10 stopping the
coinage of silver. He was opposed to
the buying of a single ounce OF silver
that was not 10 be coined. He was OPP
posed TO the United States going
INTO THE WAREHOUSE BUSINESS
for silver or for any other product If
silver was not to be coined, why should
II be purehasedl III the object Of the
bill was TO advance the money
power Of silver. why should It's
coinage be stopped when coinage alone
conferred upon il the power Of money!
Tw0.thirds of the people Of the
United States who were in
favor of the free and unlimited
coinage of silver. and an admitted
majority In the Senate, were checked
az every turn by the Executive and by
the Secretary Of the Treasury He
proposed to vote against the conference
bin because he preferred the law as
II now stood.
MR.. SHERMAN DEFENDED
and explained the conference report
The question had arisen In the confer
enee committee. he said, whether the
two houses could be brought 10 an agree
ment on the two bills passed by them
respectively.
In the first section of the conference
bill the language Of the first section Of
the House bill had been retained some
what, but the amount Of silver to be
purchased had been increased.
Much TO bis regret II had been
fxed at a larger amount than the entire
American product Of silver IL had
been made mandatory mot per-
missiYe) on the Secretary Of the
Treasury 20 buy four and a-half
million ounces Of silver each month,
which al the rate of S1.29 an ounce (oF
l6 10 y would amount 10 the yearly
issue Of about 20 900, 600 In Treasury
notes.
TIE LEGAL-TENDER CLAUSE
in the House bin and the Senate bill
had been somewhat different and
somewhat alike also; and the question
lad come up in conference whether
il would be right 70 deprive eiti-
zens Of the United States of tue
right 10 contract for payment Of con
tracts in gold or anything else. II had
therefore been agreed, Aem con, thai
the Treasury notes % be issued for sill
yer, Ike The silver dollar on which
il was based should be legal tender for
an debts public and private, ualess
where Otherwise stipulated Ia the con
tract. That same clause was % be
found IN the Bland bill.
Several other Senators took part 10
the debate
EULoGIEs on SUNSET cox.
AT 3 O'Clock the silver question in
the Senate was laid over until % NOR
row and the Senate proceeded with
eulogies on The late Representative 5.
s. Cox
Iu the HOUSE.
In pursuance Of the Democratic policy
-.rIs.aH &. srazfaF.7assfa guFrFr fmme.