The morning call., 1890-06-07
CONGRESS.
THE SENATE.
Plumb Strongly Urges the Free Coinage Of
Silver

Plumb Strongly Urges the Free Coinage Of
Silver.
WASHINGTON, June 6.-1his morning
Mitchell moved to reconsider the vote by
which the Senate passed yesterday the bill
authorizing the construction of railroad
bridge across the Columbia River, near
Vancouver. The motion was entered.
The silver bill was then taken up and
Plumb addressed the Senate.
Plumb believed it was the all but unani-
nous opinion of the people that very con-
siderable increase in the volume of currency
was necessary. The circulation to-day was
S240, 600 less than the trainers of the
financial legislation of 1879 anticipated,
although the commercial business of tine
country had doubled within that time. The
total amount of money which the people of
the United States had for the transaction
of their daily business could not exceed
$60G, 600.
He believed it was less than 100000, 900,
and upon that narrow foundation had
been built an enormous structure of credit.
propped up here aud there by devices OF
various kinds, and it kept swelling and
growing, while the base on which it rested
did not grow in proportion to the structure.
The Senator from New York (HiscOck)
had yesterday described the great wealth
and prosperity OF the country, but If the
picture was true why was it the Senator
and his committee tFnance Committee)
were plilng up protective duties. His
(PlumbS) idea was that not only should
the vacancy of the national bank circula.
ton be made up but there ought to be
added to that at least as much as would re-
suit from the free coinage of silver. lie
was willing to abandon his idea in favor of
fiat money and to widen the base of the
credit structure by adding to 1t all the sill
yer that the United States Mints could turn
out. According to the best data there was
| less than $50, 900, 600 worth OF silver mined
every year in the United States; OF that
some S30,000,000 was coined, SS.000,000 was
used in the arts. and only Sl7,000,000 could
be used in free coinage.
1t was to be remembered that the
national bank circulation was being every
day retired, the amount to be retired this
year being S15.000,000. Plumb Went on to
speak of the Silver Bill in connection with
the question of protection. The Senate
was appealed to yesterday by the Senator
from New York (HiScock) against the bill
i'll the sacred name of protection. Silver
was an American product-a much larger
product than many others that were to be
protected by duties of 200 or 400 per cent
under the Tariff Bill. He would like to ask
the Senator from New York. who was so
anxious about foreign commerce, what he
intended 10 do with tariff bill which
would prevent the United States from hav-
ing any foreign commerce. lie hoped he
might interpret the Senator's remarks on
that point as hopeful augury of the action
of that Senator in putting his knife into
the bill now before the Finance Committee;
bill which would raise the price of nearly
everything used by the masses of the
people.
The Silver Bill was then laid aside and
the Senate took up the bill to authorize
Maricopa County, Ariz., to issue bonds in
aid of railroad constructions. The bill
passed-ayes So, noes IS. 1t is the House
bill, and was passed without amendment
A message from the President relating to
the landing of an armed force from the
revenue cutter at Cedar Keys, Fla, was
read and referred to the Committee on
Judiciary. Adjourned.