The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-06-03
SILVER GIVEN A TWIST.
MORRILL, BRINGS THE SUBJECT
UP IN THE SENATE AGAIN.

Teller and Jones Represented as In
flating History in Their Eloquent
Speeches-The Followers of the
New silver Gospel Accused of
Wanting the Earth.
WASHINGTON. June 2.-In the Senate
this morning q conference was ordered on
the naval appropriation bill. Messrs Hale,
Allison and Gorman were appointed con-
ferees on the part of the Senate.
Petitions were presented as follows: From
Kansas City for reciprocity in trade with
Mexico; from New Y York against an increase
of the duty on linen handkerchiefs and on
brushes beyond the present rates (S5 per
cent. and 80 per cent, respectively) from
Memphis, Tenn, protesting against the
Mississippi river system.
MORRILL, ON SILVER.
The silver bill was later taken up, and Mr..
Morrill, addressed the Senate There had
been, he said, so much imitation of history
in some of the speeches made on the bill
that it would be well for somebody to puuct-
ure it, and he should attempt TO do his hum
BILE part in that work. The debate had
opened by the senator from Nevada (Mr.
jones' in a splendid speech, in
which that senator had made
no argument in its behalf. He had
cut loose from terra f1rma and had scared
in the air of fiat money. That senator was
a genius; was magnetic, and they all liked
him-lked even his fables, in which he was
a rival of LaFontaine He (dr. MorrilD
had been in favor of doubling the amount
of silver bullion purchased, and had been in
fact desirous of doing almost anything in
that direction except abandoning absolutely
and forever the bi-metallic standard of
money.
WANTS OF THE SILVER MEN,
But the followers of the new silver
gospel were not easily satisfied. They de-
manded the coinage of all the silver at the
expense of the government. They also
wanted treasury notes or certificates to be
made legal tender for all debts, public and
private. Then they wanted the treasury
reserve to be cut down to $40, 900 900, and
the S100,0O0,000 of gold now held for the
redemption of legal tender notes reduced to
$4,000. 900. Finally, rather than anything
else, they wanted free coinage for
ell American silver, and for all that might
be brought into the United States from
Mexico or any other country. the cost of
coming silver about 2 per cent? was TO be
borne by the government, and depJsitors
of silver bullion were to receive all the diff
ference in value between bullion and stand
ard dollars That was the feast to which
the Senate was invited by the distinguished
senator's from Colorado and Nevada
(Messrs. Teller and jones'.
WAGE FARMERS THE SUFFERERS.
The wage earners of the United States
were to be counted by the millions, and
were the most numerous creditor class of
the country. and, he believed, the largest in
/ amount. 1t was that class that it was
now proposed to pay off in cheaper and de-
| preciated standard money, and to require
! to pay higher prices for anything they had
| to buy. Could there be anything more
1 likely in all parts OF the country at an
early day to provoke strikes for higher
wagesa
| Frederick the Great, in preparing a cam
paign against a neighboring province, had
ordered bis minister to prepare proclama-
ton. The minister did SO, beginning with
the phrase, "By the grace of God" "Strike
that out" said the king; 'just say, Fred
erick wants another province.'" SO it was
with the silver miners of Nevada and Col
| orado.
WANT GOLD ABANDONED
| They want everything about gold struck
out and simply to say: 1--WE want 40 pei
cent. more profit" Silver would tolerate
no rival near the throne. AS to the stories
of the public and the private indebtedness
| of the country he (Mr. MorrilD had 10 faith
! in them; and he believed that if correct
| figures could be abtoined it would be found
that the Indebtedness per capita was never
less than in 1899. He believed that
by wise and moderate legislation q
sufficient amount of silver might be
utilized, and yet the bi-metallic standard be
maintained. He did not want to have the
| United States divorced from the CONNER.
| cial world. But that was not the policy OF
| those who had led off in the debate. Their
| transparent design was tonly thinly at
| tempted to be concealed) to go, by 9
| single bound, to a silver standard. If the
country was to have but single standard
| he preferred that that standard should bt
| gold rather than silver.
MORRILL, WANTS BOTH.
| He would, however, like to have bott
| maintained, and with the expectation thai
with very liberal increase of silver anc
with good management on the part of the
treasury department, parity of value would
| be preserved, silver advancing g
good deal and gold receding
| somewhat in value. AS to the
obloquy frequently attempted to be thrown
| on the congress of 1878 in connection with the
cessation of silver coinage, there was NJ
reason whatever in it, because, at that
time, the silver dollar was worth 3 per cent
more than the gold dollar. The deprecia-
| tion of silver had been caused, not by thai
| dCb, Dub pdI bly UeCduSo VI bu6 u6IlOUOJlZd-
| tion of silver in Europe, and partly by the
increase of silver production in the world
UNABLE TO FLOAT THEM
| The United States had been coming silver
dollars at the rate of two million month
since 1873, and had tried its best to pu
them in circulation, yet, as result, there
| had been in circulation in September, 1889
only S57.374, 900, or "a 46l7,348 less than
| three years before. Mr.. Morrill, went on to
argue against the proposition to issue lega
| tender treasury notes in exchange as al
unconstitutional measure, referring
| to the fact that Mr.. Chase
| as chief justice, had Qike another
| Brutus) sacrificed his own child tine
| original legal tender law to the safety OF
| the republic and to the statement by
| Charles Sumner, who had sustained that
| measure, that the extreme medicine of the
| constitution should not constitute its daily
| food.
AvERsE TO UNTRIED THEORIES.
In conclusion he said that be was no
| ouite ready much as he resnacted and adj