, 1890-06-12
SENATE PROCEEDINGS.
Tho silver BIZ Occupies Most of
the Day.


To-day In the senate tho silver bill
was taken up. Mr.. Hlscook addressed
the senate on tho proposition Of free
coinage. lie believed majority oil the
people opposed opening the nints to
free coinage, and he thought the nationaI
committees of both political parties
would by decisive majorities repudiate
such proposition.
Mr.. Sherman then addressed the SEN
ate. He had, he said. consented to the
increase OF circulation proposed In the
bill. Hc believed that treasury notes
based ON silver bullion would be as safe
O substitute for paper money as could
be conceived. lie did not fear to give to
those treasury notes every sanction and
value that tho United States
could confer. He did not object
to their being made legal tender
for ali debts. public ana private.
That was far preferable to tho free coin.
age of silver, because with all the efforts
made to get silver dollars into circula-
ton there was not one of them IN clrcu-
lution for every inhabitant.
Passing to the question Of tho demon
etigation OF silver In 1878, Mr.
sherman declared that at that time the
silver dollar was an image OF the past.
lost to sight and memory and ignored
by two generations, except as "A conven-
ience for the exportation Of silver
bullion. II was no wonder that the SEN
ator from Nevada did not know that sill
yer was dcmonetized whom ho voted for
the bill Tho only wonder was that he
knew of it's existence.
The bill was publicly discussed fortwo
or three years and Its objects were well
known. No bill was ever more fully dis
cussed than that, and yet his friend
Morrill, said that he had voted against
Il because 10 discontinued the charges
for coinage.
Coming back TO the question OF the
bill. he said that the result OF free coin
age would be 10 demonetizo gold, and
cause rold to be boarded or exported.
The frea coinage OF silver would be a re-
versal OF tho established policy of the
from the beginning. Il
would limit the coinage to single metal,
and silver, as sure as fate, would with
free coinage be tho only standard OF
money ia the United States. Sterling
would be worth ~, ius'ead OF si.s2, and
the American dollar would be, as In
tOluIltAt ktAtt~et "'ss. "''f~~ @sshfi.h
or four francs.
In conclusion, Mr. sherman said that
he would vote for any measure that
would la his Judgment secure and main.
tain 4 bi-metaliic standard, one that
would not Jernonetizc gold. or causc It
10 ba boarded or exported, but that
would establish both guild and silver ss
romtnon eta andard at u fixed ratio. not
only In the United States. but In all the
ntions of the world.
Mr.. Teller congratulated himself and
mo country TINT the mask was Oft she
fsccs OF the so-caiied silver party. fftherc
VAS any question as 10 tue attitude ofthe
senator from ohio before
I'D rot up, no ono who had listened TO
him could doubt Il now. He tshernan)
ard wss gold. lie was for the abandon
lncnt Of silver for money metal. leay-
mt II only 10 be used Us subsidiary |
ru,n. He tTeIler) welcomed the issue.
Iii. Stewart gave, from his point Of
view. q ssufne Of the legislative procecd- |
Inr which had resdiled In the dem oneti- |
alton of the silver dollar In 1878. lie |
q dscIsrsd that ths amendment that de-