The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1890-07-09
THE SILVER QUESTION
The Topic for Discussion in the
United States Senate.
MR.. VEST OPPOSES THE BILL
Agreed Upon by tho Con Ccrccs
Ills Speech Against lt...sIr. Cokc's
OhjectiOns... McGinuis.Aldcr.
son Case In Committee.

WASHINGTON, D. G, July SIN the
Senate to-day the conference report on
tho silver bill was taken up, and Mr..
Vest stated the reasons why hc should
vote against the report.
A large majority OF the Senate had
voted, he said, for tho FREQ. coinage of
silver, but the conference report abso.
lutely did away with all idea OF coinage
and continued, and were; intended to
continue, the system under which silver
had been peraistently degraded since
1873. lie was anxious 10 see an abso.
fute parity between the two metals as
lnoney metals. He would like to SEQ
Inc lime when sixteen ounces Of silver
would purchase an ounce OF gold, and
when III ounce OF gold would continue
las At presently to purchace sixteen
ounces OF silver. lie read the closing
clause OF the second section OF the Con.
ger bill, ut being the established policy
OF the United States to maintain the two
metals on aparty with each other upon
the present legal ratio, or such ratio as
may he provided by law" and asked
why that declaration had been inserted
why that stump speech had been in.
Jected into the stomach OF the bill, II
had been PIT III, to said, for the pur.
pose OF saying to tho Treasury Depart
ment that until silver came to a parity
with gold 1t should pay out gold, and
the public business ehould be con.
Quoted on gold basis. He, for one,
would never vote to maintain and con.
tlnue that practice. He had never been
a"si!ver man. for the purpose Of BOOM
ing silver OR Of increasing its price. He
was against that and all other subsidy.
The conference bill might give an in.
creased market for silver, but the prin.
ciple for which the Senate voted-that
the two metals should be on a parity
had been given away in that bill abso.
lulely and completely.
MR. coKE's DIRECTIONS.
Mr.. Coke expressed his concurrence
in the conclusion reached by Mr.. Vest,
lie could not support tho conference bill.
The Senate conferees had not represented
the bill OF the Senate which had been
declared for tho free and unlimited coin
age Of silver. On the contrary, they had
assented to a bill which provided def.
nitelv for the cessation OF the further
coinage .oi silver at all. There was no
compulsion Oh tho Secretary OF the
Treasury 10 coin silver after the LIST OF
July, 1871. Silver coinage was to be left
to the discretion Of the Secretary. and
such discretion was equal to stopping the
coinage Of silver. That was fact well
known. He was opposed to the buying
OF single ounce of silver that was not
to be coined. He was opposed to the
United States going in the warehouse
busiueee for silver or for any other pro.
duct. II silver was not to be coined,
why should it be purchased?, II the
object Of the bill was to advance the
money power OF silver, why should its
coinage BIZ stopped when coinage alone
conferred upon it tho power OF money ?
Two:thlfds OF the people OF the United
States who were in favor OF the free and
unlimited coinage OF silver and an ad-
mi,ted majority in the Senate were
checked at every turn by the Executive
and the Secretary OF the Treasury. He
proposed 10 vote against the conference
bill, because he preferred the law as it
now stood.
Mr.. Sherman defended and explained
tile conference report.
The discussion on the silver bill was
Interrupted at 8 o'clock, and the bill
went over without action till tomorrow;
the Senate passing from that subject to
memorial exercises in respect to the
memory OF the late Representative s. S.
Cox, Of New York.