Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1890-06-17

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leader o. tie Republican financial policy OF the
United states (alluding to Senator Sherman).
who had carried single gold standard over
two continents had come forward in his speech
and laid down at the feet of the double stand.
ard, and proclaimed that he was at last al ad-
yocate of silver money.
Allison next addressed the Senate. He said
he should vote for the House bill as amended
by the Senate Finance Committee, as he con-
sidered it the wisest and best solution. The
question to be considered was what currency
could be safely substituted for the national
bank circulation. The judgment of the FL
nance Committee was, and he thought it would
be the judgment of the Senate, that If the Gov
erpment issued paper money, II should issue it
on something that was in and OF itself con-
yertible into legal tender money. Therefore
the bill proceeded on the idea that whatever
paper money should be used should be issued
on silver bullion purchased by the Govern
nent on the market price. Why, he asked, had
silver bullion been selected as a basis for that
new paper money? II was because the public
mind rested in the belief that sooner or later
silver bullion would be coined and become
part of the metallic currency. 1t was on that
basis that he would vote for the
bill. It was on that basis tina. he
was willing that the coinage of silver dollars as
now provided for should cease. There were
people who believed that the coined dollars in
the treasury were useless, and that it would be
a wise public policy to cease that coinage He
for one did not share that belief He believed
that il was just as well to continue them to the
utmost limit, to four millions a month, but
there was q large PUBIC opinion against that
view. and therefore he consented that the bull
ion should be left in the treasury uncoined. He
did that more readily for the reason that he be-
leved sooner or later the United States would
have to change the number of grains of silver
in the dollar, and therefore the dollar now
coined would be recoined. He was therefore
willing that the bullion should be in the treas
ury until it was known whether there would be
an International agreement as to ratio 1t was
true the pending bill provided that the bullion
in the treasury should be coined for the re-
demption of treasury notes. Whatever might
be the opinion of other Senators in that respect,
he did not labor under the delusion that in the
near future under the provisions of the House
bill or the Senate bill any additional silver dol
than 300 100000 coined dollars in the treasury
against which silver certificates had been issued
so, although these dollars belonged to the hold
ers OF the certificates, the certificates were pay
able for public dues, and when they were re-
celyed into the Treasury they belonged TO the
Government of the United States; SO the Gov
eminent would always have working balance
sufficient 10 redeem these treasury notes. He
believed the only safe way to rehabiitate silver
was TO secure a concurrent agreement among
the nations, whereby they would open their
minis concurrently TO the free coinage of silver
of an agreed rate. So believing, he was willing
to go on as they were going on now, tentatively,
as II were with provision for the use of silver
pending the negotiations that ought to be had
for the res Grafton of silver on some agreed rate
by the nations of the word. In supporting the
bill, he supported 1t on the basis of an idea that
the Government of the United States would
use its power in endesvoring to secure an agree
ment whereby all the commercial nations of
the world would use silver as gold was now
used, at a rate agreed upon. He regarded the
pending measure and the unanimity with
which it was supported as complete justifca-
ton of the legislation which contemplated
minimum monthly coinage of two million sill
yer dollars and maximum of four millions |
He was for the full and complete restoration of
silver as one of the coin metals of the world, |
and was willing 10 do what he could do to pro-
mote that desirable object. He could not vote
for the free coinage of silver at this time, any
time in the near future. He could not do SO
until every effort to secure the use OF silver by
the commercial nations of the world was ex-
hausted.
Vest commented upon the remark of Allison |
to the newborn zear' of the Democratic Sem
ators IN the cause of the free coinage of silver
and made a statement to show that it had al
ways been Democratic policy. If the Demo-
cratic party had said nothing on the silver
question in their platform in 1885, it was not
because it had receded from the position it
always held. 1t was because Presiden: leve-
land was an Eastern mana New York man |
who did not sympathze with the majority of
his party on that question. Cleveland had
come to the Presidency imbued with the preju- |
dices of New York, and was in one sense las
Tar as his opinion on silver was concerned) a
sectional man. He had reason to believe now
that Mr.. Cleveland was better informed on the
SUBJECT. Vest declared on the silver question
there was no middle ground. Silver must be
put on the same basis as gold.
senators Ing Ills and Wolcott expressed de-
sire to address the Senate to-mor ow ON the
silver bill.
The Senate then adjourned.
IN THE HOUSE.
WASHINGTON, June 16th.-Wiliiams of Ohio
presented q petition from the ex-soldiers of
Dayton, Ohio, Tor the enactment of a law pro- |
hfblting the sale, use. manufacture or importa-
ton OF banners or flags representing the Confed-
crate Tag or red flag of the anslchists. Re- |
ferred.
The House then went icto Committee of |
the Whole on the sundry civil appropriation |
bill.
On motion of Williams OF Ohio the amend |
inent was agreed to appointing Z NJ Morrill, of |
kansas and Alfred L. Pearson of Pennsylvania |
members of the Board OF Managers of the SOL |
diers' Homes.
Savers of Texas offered an amendment max
ing specific appropriation instead OF an indef |
mite appropriation for the payment of back pay |
ard bounty. The amendment, so far as it |
affected the back pay, was agreed to, but that |
on The bounty was lost.
Pending action on the bill the committee rose |
and the House adjourned