Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1890-06-04
THB SILVER BILL.
The Senate Labefs Long and
Earnestly With Il.
And Also Works on Ameldn1ats to The
Fertilization Bll.

kWu0t4uVo U4Is
Decision in South Carolina Nlsctiol
Cass-1hs Pan-Amsrican Plans.
WAsnlxGroS, June 3.-A resolution
offered yesterday by Edmund4in the Sen
on the fisheries into the management Of fsi
commissioner Office, vas taken up.
Plumb opposed the resolution ~ mos
extraordinary proposition.
Edmunds and Jones of Arkansas desires
the matter to be Investigated. The reso
luton went over till tomorrow.
The silver bill was taken up and Pugk
addressed the Senate. He said the onl,
way the ingenuity of Shylock could de-
wise to destroy silver and gold As a jus
measure of commerce and exchange, AMI
a. a standard for the fulfillment OF con
tracts. was to separate them and MAKE
either = commodity. That Vas q plan pu
in execution in 1878 clandestinely by ths
enemies of silver. Pugh quoted from thu
English financier. Goschen, a statemen,
that the fall of the Roman empire wa
largely brought about by the lack of sufii
cient circulation of money and the absenct
of expansive currency, and said that tht
United States was now confronted with I
great financial phenomenon.
In the near future, he said, the entir,
output Of the American gold and silvel
mines would be insufficient to meet thu
demands of the increasing population ant
wealth and the United States might soon bs
in position Of the Roman empire, wher
the debtor class would become clamoroul
for relief laws made necessary by the in
suffciency of precious metals to furnish
enough currency. The necessity for more
expensive currency 10 perfectly apparent
and its existence could not be ignored b,
Congress. The necessity could not be
met by any legislation short Of making
available the entire supply of American
mines to secure circulation sufficiently ex'
pansive to meet the demands of the people
and satisfy their reasonable and legitimate
wants. lie should Join his vote to the
votes of those in favor of free, unlimited,
compulsory coinage of gold and silver bull
lion.
At the conclusion of Pugh's speech, the
silver bill was temporarily laid aside and
the following Senate bills passed: TIC
amend section 1854. revised statutes, SO
that every person who withdraws fermented
liquor from any vessel upon which proper
stamp is not affixed. for the purpose of bot.
ting. or attempts to carry on the busi-
ness of bottling fermented liquor in
any places in which fermented liquor il
made, or upon premises having communi-
cation with brewery or warehouse, shall
be liable to fine of $500, and the property
used in such bottliDg business shall be
liable to forfeiture. To provide for the
expectation of fermented liquor in bond
without the payment of the internal revenue
tax. The bill provides tina, from and after
January /, 1891. fermentcd liquor may be
removed from the place Of manufacture or
storage, for export to a foreign country
without the payment Of tax, in such
packages and under such regulations as the
commissioner of internal revenue may pre-
scribe. No draw hack Of tax shall be al
lowed on fermented liquor exported on and
aiter January l. is'', unless entered Tor
expor'atlon prior 10 such date.
Ihe silver oiii was again taken UP and
and Farwell addressed the Senate. lie de-
ciared himseit IN full accord with the pur-
poses OF the Dill but SAID he WAS IN favor
OF going sun Iuttner. lie woulh use Tor
money all the SILVER ohered,not stipulated
sum as provided IN the bill, and would coin
1t at its market value. Ii the price OF sii'
yer should advance to par with gold free
coinage would come as matter OF course.
What objection could there be, he asked,
to putting into the silver dollar one hun
dTed cents worth OF hiver. The people
could not have too much money. In his
opinion the bill would not accomplish the
objects. The Lat'onai bank system should
be preserved and the sub treasury system
abolished. When these measures are adopt
ed the people could get all the money they
needed. The issu,ng by the government
under the pending biii, OF treasury notes,
win siiV.r ouiiion oehihd theni a. security
furnished circulation absolutely saie, could
not be redundant and would stu supply the
monthly retrement OF nauonai oank cur
rency.
The national bank system should be per
petuated by substituting other bonds than
United States bonds to secure circulation
This would go far (farther than any other
measure he could conceive of to increase
the volume Of currency. People would
then utilize all the best bonds of the coun-
try and procure such circulation 81 the
country demanded. Treasury note, to be
issued under the bill would add la.r .rely to
the circulating medium and should any
great foreign demand be made for silver
af'ef IL reachea par WIN go'd, thst eircuia-
uoh ~oHia De "ao'e 70 oe reoucea' 30 .he
peho'ns u'ii aio"e couio no. pe uepehueu
up upon 10 iurn,sh .iie 'equ'sise c'rcuis''on'
me issues VI so'etu'pen' y, fe'e""e Gun
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"ss'"'' an, VI ''e o'''''
Government was strong enough, and rich
enough to pay all it, debts, hence all hs
tissues should be legal tender. For that
reason he had offered the amendment, IL
the independent treasury system could be
abolished, then the money Of the people
would substantially be LETT in their hands.
That left in the Government vaults might
just as we'll (ss far a. being of any benefit