Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1890-12-20
CONGRESSIONAL.
IN THE SENATE.

| IN THE SENATE.
| WASHINGTON. December 18th i'm the Senate,
to-day, after the routine business, Stanford ad-
| dressed the Senate Oh his bill TO Increase the
| circulating medium.
| He said than money was the most important
| factor in the business relations of the country.
| There wss limit 10 the quantity of gold and
| silver metalf, and that limit could not be ex-
ceeded by an effort on the part OF the Govern
ment
! II was therefore great mistake for the Gov
| errmentito confina itself in the issue of money,
to material outside of its control and limited in
| quantity. On the sufiiciencv of money de-
Try
An illustration of its Importance is to be
| found ii the present depressed financial condi-
tion. Never was The country more prosperous
| yet, owing to the want OF money, upon slight
disturbance Of credit, there was distress over
| the land.
| So general was the uneasiness and appreheu-
| sion that the money which ought to be in circu.
lation is being boarded. The bill he was now
| considering proposed that the Government was
| in condition to issue supply of money equal
| substantially to the general demand and 10
erect standard by which the Government
might determine up TO the useful value Of per
| cent. what was the amount needed.
Money Qegal tender notes. would be issued
under the provisions of the bill upon un N
curity, and lis supply was to be as. ertained and
determined by the rate which tine borrower
| could afford to psy.
1
| the Government for the loan of its money and
| 50 long as money was worth more than two per
| cent, security being practically inexhaustible
| money would always be borrowed from the
| Government and thus the Government would
be able to discharge its duties and supply the
| general want.
money was fully established by the advance i
| now had made upon its own bonds, which,
| while entirely good between the banker and
| Government did strengthen the security of the
/ hfll-hlI6Dr which rested as t1rO,, . tl,oo
| thority of the Government.
| The scheme of the BILL" continued the
speaker, sis to supply an ample amount of
] money for business purposes. have mentioned
lands as security, because they appear to be the
| best and most certain Of all security, and are
sufficient to furnish all the money needed The
| people, think, will have more confidence in a
| financial measure that is new and radical If 1t
| has at present land only for basis.
The rate OF interest on these loans On real
| estate is fixed at two per cent in the bill but
| in time may be reduced experience shall
] teach. The rate of interest charged by the
Government under its provisions will not neces.
| sarlly fix the general rate of interest for bust
ness purposes. That will always be determined
| by its value in use. The farmer having this
best security, will borrow for his own use or the
| use OF others who may be willing to pay him a
| satisfactory interest. The banker borrows
| money from the Government free of interest
and loans 1t az sach rate as its use commands in
| the market. This measure has been compared
u the law adopted in the Argentine Repuklic
| for loans on land, but there is no analogy be-
| tween the two, and 10 compare the working of
| a measure OF that republic Of say 5,000e1O popu-
| latlon to that of our country, with its erlight-
ened 62000,000, would be like cofnnaring the
methods of some irresponsible banker to those
of the Kothschlds.
| 1.-THE foundation of the whole matter and the
real Gu sion to be considered is that mas
much as the Government reserves the right TO
issue money, il is its duty, tie means being pro-
| vided, to furnish what is necessary to the pros
periiy of the people,"
The bin by ingalls, to allow the exchange of
rrl-l hla 1afl. fr-1 Lara
referred TO the Finance Committee
A resolution by Manderson was referred to
the Committee On Indian Affairs, instructing
that committee 10 inquire into the condition OF
the Indian tribes IN North and South Dakota,
Montana and elsewhere, the steps necessary to
disarm them, etc.
The senate bill for public buildings at Fresno,
California. was placed on the CALENDAR
The election bill was taken up, and Bates and
Gibson argued against it.
Stewart made an argument against the bill on
the ground that an attempt TO execute il in the
South would be disastrous to both races He
was friend of The colored man, and deeply
sympathiZed with him, but could not ask hin,
to put mis- lie IL jeopardy. in order to fight the
political battle fol, mis- (Stewart's) ADVANTAGE
He was equally a friend to the white man, and
desired TO refrain from any act which might
justify the white man in making war upon a de-
fenseless race, which Congress enfranchised.
Whatever was done in the matter of the
protection OF suffrage in the South
unless done through voluntary action of the peo.
pie of that section, would have to result in one
OF two things: Ii the negro was protected by
force the same force would inevitably be driven
10 the necessity of destroying his enemy that
involved the enslavement and final extermina
ton OF the whites. The employment of force
would result ultimately in the determination of
either of the blacks or the whites IF military
power were to be used in the execution of the
pending bill, then It should be defeated If it
was to be a dead Letter, why pass it? Public
opinion at the South was entirely sgainst ii
Instead OF the protection of the c5lored man it
would bring upon him persecution and misery
II not death. No assumption of party necessity
could Justify such an act 1t was the pIaiT,
duty of the Senate to trust to natural ca;,ses in
the hope that they would remedy the evil The
bill ought not TO pass, because it would never
be enforced; because it would consolidate the
Southern whites; because it would increase SEQ
tional animosity and kindle anew the discords
OF the past
Stewart recalled the speeches in opposition
to the force bill of 1875 made by Senators Hoar
and Hawley, then representatives. Among
| Foster, Garfield, William Walter Phelps Kas-
son and kellogg. He suggested that the Super
yisors and other officers would become marked
| men. From the reports OF the investigating
committees and all knowledge obtained during
the past twenty years, it was plain what their
| fate would be. Unless Congress was disposed
TO proceed to a remedy under the Constitution
-that OF denying representation for any act of
exclusion from or obstacles to the exercise of
! the tranehise-the only remedy that existed
was IN the enforcement of the laws already on
! the statute books, and in the assurance that no
pressure from the outside would be exercised
In his Judgment the Solid South was main-
tanned by the use of the cry that it was in
| tended on the part of those who controlled the
General Government to interfere with their
| local affairs. The moment such a CRY was
| efectually proven to be without foundation
the South could not any longer be kept solid.
The sectional party there had already begun to
| dlsinte CRATE. That disintegration must nAces-
| sarily bring about protection to the negro vote.
| An organization now irresistible in some
States in suppressing that vote would be among
the earliest to bio for it when they found il
necessary for their existence.
Hoar had the provisions of the force bill of
1850 read, for the purpose of justiiying the oppo
| sition 10 it by himself and other Republicans,
| and 10 show that there was no inconsistency
in the support of the pending measure
Dawes introduced a bill to prohibi. the OPEN
| ing on Sunday of any exhibition where appro-
| priations OF the United States are expended.
Adjourned.
IN THR HOUSE.
| WASHINGTON december 19th.-The House to-
| day, after passing the District of Coumbis BILL
| took up the conference report on the bill
| amending the Act for division of portion Of
/ the Sioux Indians in Dakota into smaller reser-
1 yations. The only change made is an author
| ization for an expenditure of an appropriation
| of $4,000, made for the purchase OF beef and
! other rations, In speaking TO the measure, A
len OF Mississippi took occasion to criticise Con-
! gress fer doing nothing TO relieve the financial
| stringency OF the country, Snd expressed his
belief that the President has done wrong and
| showed his bitterness IL attempting to bulldoze
| the senate. He quoted the remark of a lady
| fond of decorating her parloT with sculpture. TO
| the effect thai she was going TO secure life
| sized statue OF President Harrison.
| The report was agreed to auG the House ad
journed.
There are 10000 Americans who con-
4 Il r \