New-York tribune., 1890-06-17

I ,daa that whatever paper money should be issued.
sbould be issued on silver bullion purchased BIZ the
| Government In the markets OF the world at the
market prlce Why, he asked. had silver bullion
been selected as the basis for that new paper money
II was because the public mind rested in the belcf
,ba, sooner or later silver bullion would be coined
| and vouM become a part OF the metallic currency.
I, re IN that basis that he would for the blu.
IL was on that basis that he was willing that coinaRe
of silver dollars as now provided for should cease
There were two or three varying opinions 10 the
comnuIsorp feature of the present law for the coinage
of silver dollars. lie believed that II WAS just AS
well TO continue tlem to the utmost limit Of four
| ,oiIlons a month. But there large public opn-
ion against that view, and Therefore lie consented tie
the bullion should he left in the Treasury uncoined.
He believed that later the United states
would have change the number OF grains OF silver
in the dollar, and therefore the dollars now coined
would be recOined lie therefore willing that the
bullion should lie in the Treasury until it was known
vne.hcr there would be an international agreement
as 10 the ratio. 1t was tpe that tle pending olii M
provided that the bullion In the Treasury should be
roined Tor the redemption oil the treasury notes.
latever might be the opinion ot other senators III
that respect lie did not labor under the delu.ion that
bill of the senate bill any additional silver dollars d
million Of colned dollars in the Treasury, against
which silver certificates had been istued so that
although these dollars belonged TO the holders Of the
certificates the certificates pay able for public
dues and when they were received into the Treasury
they belonged TO the Government of the United states
so that the Government would always have wOliung
balance sufficient to redeem those Treasury notes lie
believed that the only safe way to renabllate silver
was to secure concurrent agreement among the naols
whereby they would open ther minis ,onouTrently 70
the free coinage OF silver at an agreed rate 30 be
licyiug he willing 10 20 on a. they were gang Oh
now, with a provision for the use OF silver pending
negotiations that ought to be had for The restoration
of silver on some agreed rate by tile nations Of the
world. In supporting the bill he supported 1t on the
in endeavoring to secure an agreement whereby all
the commercial nations OF the world would use silver
4 rdc fl' pending measure ana the nnanmtN
with which II was supported as a complete Jnstihca,
a minimum monthly coinage Of 100000 silver dol
lars and a maximum OF 4.OoOOOO
Ip,rnational agreement for silver coinage would he
promoted by tho pending law, which would dcmonetHe
Mr.. Allison replied that there was no ccmonctiza
ton of silver proposed in the pending BILL It, pro aS
OF 1875 except that the pending measure provided
liver than the maximum authorized by the act Of
IG-a Therefore there was nothing In IL 10
justify the statement mat the & pe@dnS @ vdS mes'gre ee
to forein nations that the Tinted states was holding
bullion in increased quantity. taking lis share oi
responsibility during the intervening years up 70 tlc
silver OF gold. lie was for the fnl and complete
void lie could not vote for the free coinage Of
silver at this time or AZ any time IN the near future
of silver by III commercial nations oi the worm
MIR. Vc,t remarked that If the Democratic party
said nothing on the silver question III Us platform
of lass IL was not because Il had recedcd from the
position which it had always held IT was because
Pre-. dent Cleveland an Eastern man. New
York man who did not sympathze with the majority
come 20 the Presidency lmbucd with the preudices OF
the New York bankers, and was, in ono sense as far
az MS onnlon on silver conCernedl. sectional
man lie had reason To- believe now that VII. Cle'e-
land was better Informed on the subject. and was IN
sympathy with the people OF the great West ana oi inc
majority Of the Democratic party.
Mr. Hale gave noice that hereafter he would object
70 anv further extension II time beyond the five MIN
utes allowed 10 senators on each question.