Morning journal and courier., 1890-05-14
SENATE.

SENATE.
 MT. Davis, from the committee on pensions exported back the house substitute for the ssnate dependent pension bill with a written report, and moved that the house substitute be non-concurred in and conference asked. Agreed to. The senate at p. m. resumed consideration of the silver bill and Mir. cones of Nevada continued the speech begun by him yesterday. Fears had been expressed, he said, lest gold should leave the country by reason of restoring to silver its full monetary power. Such would not be the case. For every gold dollar that left there would be a silver dollar in circulation. If, however, gold could be kept only on condition that equality and justice should be destroyed who doubted that it should go: No argument for characterization could be found in the fluctuations of the yield from tAe mines. There would be a large yield now of one metal and again of another, but the history of the world afforded no example of an extraordinary yield of both metals simultaneously, except in the single instance of the discovery of the mines of America. The total amount of silver and gold in the worlds stock was | about equal-both possessed in common and neither in any higher degree than the other | all the qualities which are recognized as necessary in money. The purpose in using both had always been to preserve society | from the result of accidents in the produce ton of either, and the effect of demonstration of silver was to defeat that bene6oient purpose. He opposed the idea of redeeming treasury notes in bullion on the ground that when they were 50 re- deemed the money circulation would be con- tracted and the putting of bullion on the market would make up to the country for the loss of money from its circulation. He expressed entire confidence in the honesty of purpose and consciousness of motive of the present secretary of the treasury, but said that as none of the secretaries for eighteen years had coined a dollar of silver more than compelledby law to do and further future sec retaries might conscientiously deem it their duty to keep in circulation the least possible amount of the proposed treasury notes and thus the United States treasury might In effect become mere purchasing agent for the East India company or syndioates of English merchants wanting bullion cheap in order to make their payments to India.
 In conclusion he snid: predict, Mr. President, that the restoration of silver to its birthright will mark an epoch in the his tery of this republic. It will place in circu- lation an amount of money commemorate with our increasing population. It will give assurance to our languishing industriee that the volume of our circulating medium is | dency of prices shall be no longer down ward. It will increase the wages of labor and the prices of tho product of labor; 1t will reduce the price of bonds and other forms oi money futures; 1t will tighten but inequit ably the burden of mortgages; 1t will in crease largely, though not.unjustly, the debt paying and tax-paying power of the people
 Nr. Jones concluded his speech at 3:16 having thus occupied in all five and guar ter hours.
 MT. Jones of Arksnsas spoke in criticism of the bill, which he intimated was repuh licAn caucus measure.
 . Several republican senators denied that tn
 MT. Jones of Arkansas-Membsr of tn . republican party have said to me in privat , conversation that this bill had been aI
 proved by every senator on that side ez
 cept the senator from Colorado.
 The bill went over till tomorrow.
 Mir. Hoar said he had reported back yei
 terday from the judiciary committee th
 house amendment to the antitrust bill wit
 an amendment. Some senators on bot sides of the chamber thought the propose , amendment was not Q surprise and we
 guarded as 1t ought to be. He, therefor
 moved to have the whole matter reeommittt
 to the judiciary committee. Agreed to.
 After an executive session tho senate a'
 journed.