The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1890-07-09
TOBE AN OBJECT LESSON
That's What q Senator Says The
Present Silver Bill Will Be.
The Silver Men Are Not Satisfied
With the Proposed Bill but Will
Take II for the Present and
Reform II Next Fall.

WASHINGTON, July s.-The conference
report on the silver bill was taken up In
the senate.
Vest stated the reasons why he should
vote against the report. A large majority
of the senate has voted, he said, for the
free coinage of silver, but the conference
report absolutely did away with all idea
Of free coinage, and was intended TO con-
tinue the system under which silver had
been persistently and consistently de-
graded since 1873. He was anxious to see
an absolute parity between the two met
ais as money metals. He would like to see
the time when 16 ounces of silver
and when an ounce of gold would
continue las Mt present) to pur-
chase 16 ounces of silver. He read the
closing clause of the second section of the
conference bill and asked why that decla-
ration had been inserted, and why that
stump speech had been injected into the
stomach of the bill. II has been put in,
he said, for the purpose of saying to the
treasury department that until silver
came TO parity with gold it would pay
out gold and public business should be'
conducted on n gold basis. He for one
would never vote to maintain and con-
tinue that practice. He never had been
a "silyer man. for the purpose of BOOM
ing silver, or increasing it's price. He was
against that and all other forms of
subsidy.
The conference bill might give in
creased market for silver, but the princi-
pie for which the senate voted, that the
two metals should be on a parity, had
been given away on that bill absolutely
and completely.
Coke expressed concurrence I'm the con-
clusion reached by Vest. He could not
support the conference bill. The senate
conferees had not represented the bill OF
the senate which had declared for the
free and unlimited coinage OF silver. On
the contrary they had assented to n bill.
one which provided definitely for the ces-
sation of the further coinage of silver at
all. There was no compulsion on the sec
retary of the treasury to coin silver after
the first of July, 1891. Silver coinage was
then left to the discretion Of the secre-
tary, and such discretion was equal to
stopping the coinage of silver. That was
fact well known and admitted in debate.
He was opposed to buying single ounce
of silver unless to he coined; he was OPP
posed TO the United States going into the
warehouse business for silver or any other
product. II silver is not to be coined, why
should IL be purchased? III the object OF
the bill was TO advance the money power
of silver, why should its coinage be
stopped when coinage alone conferred
upon il the power of money. Two-thirds
| OF the people of the United States who
were in favor of free and unlimited coin
| age of silver and the admitted majority in
| the senate were checked at every turn by
the executive and secretary OF the treas
| ury. He proposed to vote against the con-
ference bill because he preferred the law
| as IL now stood.
Sherman explained and defended the
conference bill.
Voorhees, said the trouble about the
conference bill was not whether the sec.
retary of the treasury would obey the law,
| but that every single section OF the bill
| gave discretion to the secretary OF the
treasury, who was "packed" against sill.
yer. Every single section of the bill con-
| ferred and was intended to confer the
discretion To the secretary of the treasury
by which he could destroy, dishonor, and
degrade silver as money. He did not re
| fleet upon the present secretary OF the
treasury. The treasury depart ment hat
been packed against silver ever since he
| voorhees,, had been a member of the
senate. not merely under the republican
party but under his own party. until hs
was weary OF IL.
Teller said much as he disliked tn,
adoption of half way measure, he was
compelled to suggest the conference bill
as the only measure which could brin6
| Ttltl 70 tle DtODic VI tiic 1uttt7i pNhtti
\ for the next few months. Congress woult
assemble in December next and II the bill
did not work well IL could be reformed
next session. He was restrained by thu
courtesy due another body (house OF rep
resentatives), from expressing his opin
ion with regard to its course. That body
| which had been considered representa-
tive body of the American people, abso.
lutely Houted i'm the face Of the American
people demand made upon il by Wal
street, disregarding public sentiment
There had been no lobby In eitheI
house, but there never had been sucl
pressure brought upon congress as was
brought upon IL at this session to defea
the free coinage of silver. He believed
1t impossible To secure free coinage th'
present session, because the voice OF th'
majority i'm the house was stified not ts
be heard until the people OF the uDitet
States sent 10 the house and senate mel
willing TO represent them In spite OF ex
terror influences.
Steward said IL the conference bill wa
executed in good faith, as the senate wa
bound TO assume Il would he, IL woul,
give great relief. He was confident
would be an object lesson that would lea'
TO free coinage.
After eulogies on late Representative
Cox, the senate adjourned.