Morning journal and courier. [volume] (New Haven [Conn.]) 1848-1894, 1890-06-07


Both Houses Discussing she silver
Question-Senator Plumb Addresses
the Seaate-The Debate In she House
Participated In By Several Members
other Busihess 4Transacted.
WASHINGTON, D. G., June 6.-Mr. Plat
presenteda petition from tobacco growers
and dealers of the Housatonio valley, Conn,
In favor Of specific duty of not less than 81
pound on imported wrappers. Referred to
the finance committee.
F. A new conference was ordered on the de-
pendent pension bill and Messrs. Davis. Saw
yer and Blodgett were appointed conferees on
the part of the senate.
The silver bill was taken up and Mr..
Plumb addressed the senate. He thought
the chances for the passage of the bill at the
present session had not improved by the
performances of the last few days. He
asserted that the circulation to-day
OF the financial legislation Of 1875
anticipated, although the commercial bust
ness OF the country had doubled in that time.
The people demaded that very considerable
increase in the volume of currency was neces-
sary. He believed that the total amouns Of
money which the people OF the United States
had for the transaction of their daily bust.
ness was less than $500, GOO, 600, and upon
that narrow foundation had been built an
enormous structure of credit, propped up
here and there by devices of various kinds,
and kept swelling and growing while the base
on which it rested did not grow in proper
ton to the structure. If there was such
financial health, soundness and prosperity In
the country as pictured by Mr.. Hiscock yes.
terday why not let the tariff and the fnan-
cial system of the country alonea He was
willing to abandon his idea in favor Of fat
money and to widen the base of the credit
structure by adding to- 1t all the silver that
the United States mints could turn out. The
senator from Ohio (Mr. Sherman) had said in
brief speech which he made come time ago
on a minor clause of silver bill in a burst of
candor which had not characterized his
speech of yesterday, that gold and silver had
been created by the almighty as money and
that such they had been from the beginning
of time.
"What God has Joined together let no
man put ssunder." If gold was money, then
silver was money. II one of the metals was
money by the designation Of the almighty,
both were money.
Mr.. Plumb went on to speak of the silver
bill in connection with the question of pro.
lection. The senate had been appealed to
yesterday by the senator from New York
Mr.. Hiscock) against the bill in the sacred
name Of protection. He would not call 1t 6
fetch, but In its name the senate was asked
to keep silver dethroned. Silver, he said
was an American product, much larger
product than many others which were to bs
protected by duties of 200 or 300 per cent
under the coming tariff bill.
The bill was then laid aside.
The message from the president in relation
to the landing of an armed force from thu
revenue cutter NoLane at Cedar Keys, Fla.
was presented, read and referred to the ju
dietary committee.
Mr.. Dawes from the committee on Indiar
affairs reported resolution (which wa
agreed toy calling on the secretary of the in
| terror for copies of communications ant
correspondence on the subject of intruder
| on the Indian territory aud for report as t.
what eteps have been taken to fulfill treat,
obligations with the Chootaw and Chicasag
nations in regard to preventing such intru
sion.
After AN executive session the senate at
o'clock adjourned.
| The silver debate was resumed this morn
ing, Mr.. Lind of Minnesota being the frs
speaker. He believed that the FIRE
coinage bill presented not only tn
best but the quickest way to set
| tie the whole question. But b
believed that it was best to yield somethin
even to prejudice, if by 30 doing Legislation
almost equally efficacious and less objection
able to some classes could be secured. Sue
measure was the republican caucus bill
Mr.. Lacey said the country needed an ez
pansion of the currency in safe way an
the pending bill provided for 1t.
| Mr. Wa1ker of Massachusetts rafarred 4
the argument that there was business d.
preston because of low prices. Their
was not word of truth In Il
there was not a solitary fact ths
justified the statements made
favor of free coinage-not one. It was sal
that the farmers were oppressed and thel
were men on the aoor who enjoyed "burnin
corn" when the fact was there never was
day since the sun shone on the earth when
farmer could pay off a debt on his farm wit
as few days. work as he could to day. B
asserted that the decentralization Of silve
was not the cause of decrease {
prices. Prices had been going dow
for a hundred years. The demonetizatio
of silver had not had the slightel
appreoiable effect on the depreciation {
prices. More money meant more misel
[Laughterl He referred to speech delive
ed by Senator Teller (whom he characterize
as the high priest who ofioiated at the alt,
of Diana, crying out "great is the goddess
Diana" amid crowd of admiring eilvel
smithsl and quoted statistics to controvel
> some Of the statements made by that gentl
man in regard to the condition Of the farme
Mr.. Blount Of Georgia criticised Il
to stop the further coinage Of the silver DE-
lar. II regulated silver to the same plane
any other commodity. He also criticised L
caucus bill and advocated free coina
measure.
Mr.. Bland of Missouri inquired whether
was in order for him to offer an amendmer
= The speaker replied that 1t was not.
/ Mr.. Bland said that he could only prote
a against the denial of the right of a memb
OF the minority to offer an amendment. E
Is O member of the committee on coirae
!, weights and measures, had asked wheth
|. he would be allowed to offer free COMA
}. substitute. The chairman had replied IL
' 1t would be 30 arranged. He did not wa
9 to charge any gentleman with acting in b
n faith, but he did charge that there had be
Is a neglect In carrying out the promises
|, the committee. The gag law had be
t placed upon the minority. why had Il
been donea 1t was for the purpose of pa
ing bill through the house the effect
which was to demonetize silver. That "
\. the object of 1t. The bill was Wall str
!. scheme, and gold bug scheme to char
20 the rstio between gold and silver. It rec
e. nizsd silver bullion according to Its g
value. Silver is being murdered in the no,
m of its friends. He especially criticized
g, bullion redemption clause, arguing that
ID would prevent any appreciable expans
- of the currency. 1t would hold out
II temptation to the secretary of the treasury
I'd make millions of dollars out Of specr
90 ton in Wall street. No congress which /
a. any regard for the officers Of the governm
d. would hold out such temptation.
D. Mr.. Kerr of Iowa advocated the bill &
TX long step in the right direction.
N Mr.. Townsend OF Colorado said it wa
q matter of history that from the foundat
~ of the government until 1878 there had
ID listed free coinage of both gold and silvel
or q ratio of 16 to i. The fuctuatien in
y. ratio had been nominal until 1878, but '
IL sensible since that time. Silver had bee
n money metal almost from the dawn of
ns tory.
a Mr.. Skinner Of North Carolina denoun
d, as crime the demonstration of silvel
| 1bNa -