Evening star. [volume] (Washington, D.C.) 1854-1972, 1890-07-08

Ihe conference report on the silver bill was
taken UP. and Mr.. Vest stated reasons why he
should vote against the report large major
ity of the Senate had voted, he said, for the
free coinage of silver but the conference re
port absolutely did away with all idea of free
coinage and WAS intended to continue the sys-
| tenn under which silver had been persistently
and consistently degraded since 1873.
He was anxious to see an absolute parity be-
tween the two metals as money metals. He
would like to see the time when 16 ounces of
| silver would purchase an ounce Of gold, and
when an ounce of gold would continue Gas at
present to purchase l6 ounces of silver. He
read the closing cause Of the second section of
the conference bill: 1T being the
established policy Of the United
on parity with each other upon the present
legal ratio, or such ratio may be provided by
law" and asked why that declar alton had been
lnserted-why that stump speech had been in
jected INTO the stomach of the bill 1t had been
put III Che said) for the purpose of saying to
the Treasury Department that until silver came
to parity with gold it should pay out gold and
the public business should be conducted
ON A GOLD BASIS.
He for one would never vote to maintain
and continue that practice. He had never
been "a silver man" for the purpose of BOOM
ing silver or of increasing it's price. He was
against that and all other forms of subsidy
The conference bill might give an increased
market for silver, but the principle for which
the Senate voted-that the two metals should
be on parity-had been given away in that
bill absolutely and completely.
Mr.. COKE AGAINST THE NEW BILL.
Mr.. Coke expressed his concurrence in the
conclusion reached by Mr.. Vest. He could not
| support the conference bill
The Senate conferees had not represented
the will Of the Senate, which had been declared
for the free and unlimited coinage of silver
On the contrary they had assented to a bill
which provided definitely for the cessation of
the further coinage of silver at all There was
no compulsion OH the Secretary of the Treasury
to coin after the 1st of July, 1891 Silver coin
age was then left to the discretion of the Sec
retary, and such discretion was equal to stop
ping the coinage of silver. That was a fact we'll
known and admitted in debate. He was op-
posed to the buying of a single ounce Of silver
that was to be coined. He was opposed to the
United States going into the warehouse busi-
ness for silver or for any other product. II
silver was not to be coined why should it be
purchased? If the object OF the bill was to ad-
vance the money power of silver why should
Its coinage be stopped when coinage alone con-
ferred upon 1t the power Of money? Two-thirds
OF the people of the United States who
were in favor of the free end unlimited coin
age OF silver, and an admitted majority in the
Senate, we're checked at every turn by the Ex-
ecutive and by the Secretary of the Treasury.
He proposed to vote against the conference
bill, because he preferred the law it now
stood.
MR.. SHERMAN DEFENDS THE CONFERENCE RE-
PORT.
Mr.. Sherman defended and explained the
conference report. The question had arisen in
the conference committee, he said, whether
ment on the two bills passed by them respect
lvely. In the first section of the conference
bill the language of the first section of the
House bill had been retained somewhat, but
the amount OF silver to be purchased had been
increased.
Much to his regret it had been fixed at a
larger amount than the entire American prod
uct OF silver. 1t had been made mandatory
(not permissive) Oh the Secretary Of the Treas
ury to buy 900, 900 ounces of silver each
month. which. at the rate of SLIPS an ounce
(or sixteen to one) would amount to the yearly
issue OF about S70,00O,0 900 In treasury notes.
THE LEGAL-TENDER CLAUSE
in the House bill and of the Senate bill had
been somewhat different and somewhat alike
also. and the question had come up in confer
ence whether it would be right to deprive citi-
Gems of the United States of the right to con-
tract for payment of contracts in gold or any,
thing else 1t had therefore been agreed mem
con, that the Treasury notes to be issued for
silver, like the silver dollar on which it was
public and private, unless where otherwise
stipulated i'll the contract. That same clause
Was to be found in the Bland bill.
Mr.. Stewart-Does the Senator from Ohio
think that there is any danger of the Secretary
Of the Treasury failing to buy 4, 500, 900 ounces
Of silver per month, if he get it at less than
par, as provided in the act2
Mr.. Sherman-Not the slightest The Sem
ate cannot legislate on the idea that the off,
GERS of the government will not execute the
lux, vllftn han hAa. l.
President and the Secretary of the Treasury
haunting the Capitol in regard to the bill. I
have not seen either of them; and do not
think that single conferee has seen either
OF them during the conference The
President of the United States will do what
he thinks it his bonnden duty to do under his
obligation. As to his seeking to influence me.
or my seeking to influence him, that il rather
beyond the bounds of reason.
MR.. VOORHEES, SAID
that in the practice Of his profession he ALWAYS
dreaded a packed jury. The trouble about the
conference bill was not whether the Secretary
Of the Treasury would obey the law but that
every single section of the bill gave discre-
tion to the Secretary of the Treasury, who was
packed against silver. That was his dread
about the oil and one of the strong reasons
why he should not vote for it. Every single
section OF the bin conferred. and was intended
to confer discretion on the Secretary of the
Treasury, by which he could destroy, dishouor
and degrade silver as money. The best evidence
that that was the purpose of the bill was to be
found in its advocates. He did not reflect upon
the present Secretary Of the Treasury Far
from 1t. The Treasury Department had been
packed against silver ever since he (Mr Voor-
hees) had been member Of the Senate not
merely under the republican party, but under
his own party, until he was weary of it. He
was amazed at the hardihood of Senators TAX
ing back all that they had said and done and
voted within the last three weeks
majority of seventeen i'll the Senate had
voted for the free coinage Of silver, and that
majority had been treated as chatf by the con-
ference committee
He would not say that the conference bill
was cheat or fraud; but. under its malign
lhhaence, silver, instead of being more potent
AZ factor in the prosperity of the people of
the United States, would wither, shrink back
ana take ITS place as a miserable commodity.
instead OF being clothed with the dignity Of
money. 1t was a day OF shame and degrade
ton when majority of sew enteen in the Sem
ate was wiped out by the report of q confer
ence committee, and when the Senate was
asked to recede, to retrograde, TO 80 back and
In leave the WhOla N ho