Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1890-05-13
CONGRESSIONAL.
IN THE SENATE.

ments to Stewards bill were agreed to with an
and conference asked for.
Vest and Coke objected and the bill went over
until tomorrow.
stanford, from the Committee on Public Build
ings and Grounds, reported favorably the bill
public building at Ogden, Utah.
Plumb introduced bill providing for the full
coinage of standard silver dollars. Following
is the text of the bill:
Section l. That from and after the date of the
passage of this Act the unit of value in the
United States shall be the dollar, and the same
may be coined OF 4I2.5 grams of standard silver
or of 25.S grains O. standard gold and said coins
shak be equally legal tender for all sums what
ever.
Sec. 2. Any owner of silver bullion may de-
post the same at any Mint of the United States
to be formed into standard silver dollars or bars
be lawful to refuse any deposit of less value
than 500 or eny bullion so base as to be insult
able for interpretations of the Mint
Sec. 8. In any deposit OF silver in which gold
and silver a7e combined, no allowance shall be
made TO thc'depositor for the gold, unless the
two metals are IN such proportion that they can
be separated advantageously; but gold bullion
contained in silver deposits and SEPARATE there
from, shall be paid for in gold or silver coin as
from time to time may be appointed by the Di-
rector Of the Mint.
Ser. 4. That so much of the Act of February
2S 1875 as directs or authorizes the Secretary OF
the Treasury to purchase silver bullion for
coming into standard dollars, and all other
Acts aZd parts of Acts inconsistent with the
provisions Of this Act are hereby repealed.
A foot note attached to the bill says:
Thisswill not interfere with the present privi-
lege of obtaining silver certificates for silver
dollars deposited in the Treasury, so that the
convenient floating of silver will be continued
as ncey, if the bill becomes law.
Ats o. clock the silver bill came up as unfin-
ished business.
Jones of Nevada took the floor and made a
long address on the bill. He was given undi-
vided attention, as it is recognized that he is
theioest posted man on the silver question in
the Senate.
Senator Jones spoke of the general unrest pre-
vailing throughout the country. The prices Of
all commodities, he said, had fallen, and con-
tinued TO fall. When the fall in prices Yves
found to be operating on the products of all in
dustries, when it was found not confined to any
one cline country or race, but diffused over the
civilized world-found not to be characteristic
OF one year. but to go on for series of years
it became manifest that it could not rise from
local., temporary. or subordinate causes, but
must have genesis and development in some
principle of universal application.
What was it that produced general decline
of prices in any country? 1t was the shrinkage
in the volume of money, relatively to the Ipopu.
lation and business. The world had never had
proper system of money. Property and specu-
lation had been stimulated at times by great
yields from mines. and when these mines were
worked out then came reyulsien and adyer-
sity.
He went on to speak of the natural ratio be.
tween gold and silver existing for 500 or 900
since the legislative prescription on silver in
Germany and the United States ana its Danish
ment from the minis of Europe that any ma
terial change on that ratio took place. and the
present divergence in relative value of the two
metals was greatly due to the legal outlawry of
silver, and not to any natural causes.
1t always had been the object of the creditors
class to enhance the value of money by reduc-
ing its volume, so that when the gold mines of
California and Australia were producing the
largest yield it was proposed to .demonetize
gold A motion of decentralization in the case
OF silver as well as gold was, Jones said. to ag-
grandize the creditors class of the world and
contlscate, so far as practicable. the reward to
the hardy toflers.
Germany after the war with France as having
inflicted greater evils ON her people than her
armies inflicted on France, and said wheni be-
gan to have It's effect Il veritable hegira of the
German population began to take place
Ii surprise was felt at The selfishpess of the
privileged classes in Europe in demonetizing
silver what, he asked, was to be said in defense
of the United States demonetizing silver. No
such a stupendous act of folly and injustice had
ever been perpetrated by representatives of
free people. 1t had proved prolific of enforced
idleness poverty and misery
No better remedy could be applied than an
absolute reversal OF that legislation and putting
back the monetary system of the country to
what it was before 1873.
All the nations of the earth used silver as
money up to 1875 when Great Britain sundered
the silver link that bound her to other nations
doing so for reasons of her own, arising from her
position as creditor of all nations, but the in
dustry OF the English nation became CONCEALED
by reason of that contraction of currency and
within seven years thereafter number of her
landowners were reduced, By reason of forced
sales, from 100000 to $4,000, and a large pro-
portion OF her population had to 1--we wholly, or
in part, on the bounty of organized charity
That had been part of the price imposed on the
English people by the creditors class.
In regard TO the bill pending before the Sem
ate. Jones said he hah ~
Committee on Finance, but it did not fully re-
fleet his views regarding the relation which
silver should bear to the monetary circulation
OF the country or the world.
He declared himself at all times and in all
places firm and unwavering advocate of free
and unlimited coinage of silver. In view. how
ever. OF the great diversity of views prevailing
on the subject and the possibility that by reason
OF such diversity, this session of Congress might
terminate without affording the country any
relief from baleful and benumbing effects of the
RECOMMENDATION OF silver, he had Joined with
other members of the committee in REPORTING
the bill, but he held himself free to vote for any
amendment that might be offered which might
tend to make the bill more perfect measure of
relief and that might be more in cOnsonance
with his individual convictions
Resuming the argument, Jones said the single
gold standard men attempted TO brush aside the
equities involved by sneering at the debtors
Who were the debtors in this country, he asked
They are the aspiring, the hopeful, the ener-
getlc, the audacious. They were the npbuild-
ers ana designers. They were the constructive
force IN every community, as probably nine
tenths OF the business men OF America de-
pended in one form or other on a credit system
which made the dollars of a debt more yalu.
able at the date of payment than at the date of
borrowing, which was a system of robbery.
He ably defended the silver miners from the
charge of selfishness.
At the suggestion of Teller, Jones postponed
hnlssing has speech until tomorrow.
Adjourned.
The scene in the Senate Chamber during his
speech was fair indication of the great inter
est felt in it and the subject Senators from min
ing States, Stanford, Hearst, Stewart, Teller and
Others sat close to Jones and gave him most
earnest attention but an almost equal degree of
interest was shown by all the Senators present.
Everyone on both sides of the Chamber wheeled
his chair around so as to face the speaker.
There was no conversation INDUCED in no
newspaper reading, no letter writing, but dur
ing the three hours that the speech occupied.
every Senator seemed to be paying the closest
attention to it. The number of persons in the
gallery, however, was not large.
IN THE HOUSE.
WASHINGTON, May 12th.-A motion to go into
Committee of the Whole on the tariff bill and
stead of under the fve-minute rule, was re-
sisted by the Democrats, who urged further
general debate. No quorum being present a
call of the House was ordered. after which the
Honse took up the tariff bill under the Eve
minutes discussion rule.
Anderson of Kansas offered an amendment
authorizing the President to suspend the duty
on any article when he may be convinced that
the production of said article is controlled by
trusts or combination to control prices and
production.
bills and McMillin DEM spoke in support Of
the amendment
Kerr opposed the amendment, saying steps in
tsatregard have already been taken by q sepa.
rate measure.
Srosvenor said the Democratic talk about
trusts did not look well when the last Congress
failed TO pass legislation against trusts hut on
theyocntIary, the head of the greatest trust in
the country appeared before the Ways and
Meens Committee, and thereafter the committee
changed the sugar feature of the BILL to the
great benefit of the trusts
Mills denounced this statement as false.
Grosvenor said: I'VE are now hearir again
the old plantation slogan" lApplause from the
Republican side
McMiliin denied that any Sugar Trust repre-
sentative had appeared before the committee.
GroCrenor-sDoes the gentleman deny that the
sugar schedule OF the tariff bill was changed
the day after Mr.. Havemeyer visited the COM
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