The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-07-13

for the redemption of bank notes, making
total increase OF circulation in the next
twelve months of $l40,000,000.
Williams, of Illinois, inquired whether
the gentleman in his calculation did not as
sumo that silver would reach a parity with
gold.
COnger replied that whether it did or not I
the increase would be nearly the amount;
at any rate it would fall short of that only
about $i3.000,000. Was the gentleman from
Missouri (Bland) willing TO stand here and
vote against measure which would give
the suffering people of the west an addl-
tional circulation of this large amount!
He wanted the Democratic party to tell |
the country whether it was unwilling to re-
fuse to support bill that would give the
people this large measure OF relief. This
was a Republican measure Republican |
applause. The pending measure had been |
agreed upon by Republicans only; it had /
been passed in the Senate by Republican
votes oniy-that it might pass here by Re
publican votes only. 1t would then go
where it would be signed by a Republican
President, and thence 1t would go to the
country that would give such Re.
publican endorsement that many of
the gentlemen on the other side would
not be here to vote in the next Congress.
The work of the House had been moving
the country rapidly towards the establish
ment of parity between silver and gold.
| When Congress met silver was 90 cents an
ounce, yesterday 1t sold for 1879. Since 1t
| had been announced that the conference
had agreed upon the bill silver has gone up
more than cents an ounce. Republican
applause).
Cutcheon, of Michigan, regarded the con-
ference bill as a vast improvement over
the 5montrosity sent here by the Senate,
which proposed to make the United States
mint the dumping ground for all the silver
of the world for the benefit of speculation.
1t was also an improvement over the bill as
originally passed. The House would give
the country an additional currency OF
metal and paper for the uses of business.
Hermann, of Oregon, said he favored the
bill, although it did not contain the fullest
recognition of the equality between gold
and silver as money metal. 1t was a
concession on both sides of the question;
. it was victory for the popular demand
it was a long step towards free. coinage,
He had no doubt that after the fall elections
there would be strong representation
here on the line of free coinage and free
silver. He congratulated the people
) that such an advance had been
made in establishing an equality between
the two great money metals of the world.
Bland, of Missouri, concurred with the
gentlemen in hoping that the next House
, would be a ee-coinage House, but that
f1OuS6 NOulu NC CODlpOSCu VI OllOSS w llu tll-
S vocated free coinage and stood by their
colors. 1t would not be composed of the
I Republican party, which by the gag rule
had voted down and stifled free coinage
L If free coinage came at all, it would come
= from that party which stood firm to the
Y flag of free coinage and which did not sur
U render its principles at the beck of Wal
street. He denied the bill was the result
of a free and fair conference. 1t was thu
) result of secret meetings of the Repub
q lican conferees. He, as conferee, ha(
h known nothing of the measure until it ha(
=. neen framed and the report ready to b.
signed. The Democratic members had beer
ignored in the preparation of the bill. Thu
e bill was one which particularly demoni
10 TIED silver; it was a sugar soate,
ID quinine pill. On the first reading
seemed that the secretary was to purchas
100000 ounces every month, but when
y, man reeled the pill around in his mouth h
lie began to taste the bitterness of, or so muc
j. thereof as mas be offered. There could
~ traced in this measure a stealthy an
y Italian hand. The bill surrendered ever
y principle of bi-metalism; it surrendere
In free coinage; it made a combination wit
ye the bullion spectators of Wall street.
ne the interest of Wall street it departed froi
the legal ratio and changed that ratio frol
Ii to l to 20 to l. To change the ratio wa
Il to pile up so much capital in the treasur
ct at the expense of the people and in the il
X terest Of Wall street and bullion owners
nt He denounced it as fraud and cheat c
the people who were demanding ratio
IL Is to l. The bill made silver simply con
ed modify to be measured by go
if upon which money shall be issue
at its gold value. 1t was true tt
II measure might make a small increase in tt
~ circulation, but it would make it by COZ
Dr. cession to the gold standard and the desc
oil of III q dpolnrafiOr hat n
&C. gress would not make any further fight Fl
nd bi-metalism; it was neither silver bill IL,
80 greenback bill, but simply political d
VI vice concocted to tide over an emergenc
an He denounced it as fraud and would d
re- nounce any measure as fraud that did n
provide for free coinage. When the
bic that had his name was passed, he (Blan
no had fallen into trap. Every silver repi
as sentative then felt perfectly confident t
&C. next President would sign free COMA
its bill. He would refer to the history of tho
of members now willing to accept this repC
- as leading to free coinage. Now was
io time to make the fight. If the conferen
ed report was rejected another confereu
pit, would be held and the objectional
ties features of the report stricken out, a
Tho that was what he had undertaken to do.
Ire Morrow, of California. expressed his a
- proval of the conference report and p
uo- ceeded to argue that the depression in I
,ifi- price of silver in recent years result
hat from artificial manipulation.
him In the course of the debate, Townsel
ed. of Colorado, said he and some other Repl
no licans had voted for free coinage and
the gentlemen on the other side had sto
Gnu solid, a free coinage bill would have pass
TO the House Then they had recognized Il
as the only way to get silver legislation
ire this session was to go back to the Repul
mo can party, where they had always
10 longed, and get it from that party.
60 The conference report was finally agrt
Oh to by a strict party vote, yeas, 122; ma
re 80, as follows;
YEAS
. 80 Adams. Allen, of Michigan;
vi Anderson, of Kansas; Atkinson,o Penna.
per Atkinson, of w. Va; Baker,
and Banks, Bartlne.
Bayne, Beckwlth.
Ing Hickman. Bliss.