, 1890-06-12
FRIDAY.
Tho silver Debate Resumed In Both
Houses.

houses.
WASHINGTON, June 6.--ln tho house
today the silver debate was resumed.
MIR. Lind, OF Minnesota, the first
speaker, said that silver should be re-.
stored to Its former position, as this was
demanded by the great mass Of tho
American people.
Mr.. Lacey. of Iowa, said that the
county had met with n contraction of
the currency. Tho pending bill pro.
posed to give tho country an increase to
offset the contraction, and even more.
IL was practically a free coinage bill. II
was free coinage measure because 1t
provided that when silver was at par tho
mints should be open to free coinage.
The country needed an expansion OF the
currency In safe way, and the bill pro-
vidcd for 1t.
Mr.. Walker, OF Massachusetts,, spoke
against free coinage. He asserted that
the demonstration of silver was not the
cause Of the decrease IN prices. Prices
had been going down tor hundred
years. More money meant more
misery.
Mr.. Perkins. Of Kansas, remarked in
that connection. 1--WE all love misery"
MI Walker added that he was going
to vote for the pending bill because the
members of the house from ls0S up to
tho present time had so urged and en-.
couragod the people In their folly that
they had to come to such a state of
mind that something must be done or
they would break their members up.
lLaughter.l 1t was pure politics; that
was all there was about IL.
Mr.. Biount of Georgia, continued rs
follows; "Silver decentralization has cast
Its biighting curse over everybody ex-
cept the capitalists. To increase the
volume of the circulation will relieve
not only the agricultural interest, but
every other interest in the country"
He criticised the treasury bill, declaring
that II was intended TO stop .he further
coinage of silver dollars. II was n Wall
street measure. lie also criticised tho
caucus bill, and advocated free coinage.
Mr.. Bland said that the bill was a
Wall street and gold bug scheme to
change the ratio between gold and sill
yer. recognized silver bullion accord.
ing to Its gold value Silver was being
In the house OF Its friends.
lie especially criticized the bullion ro.
demption clause, arguing that II would
prevent any appreciable expansion OF
the currency. II would hold out
the temptation to the secretary of
tho treasury TO make q million dollars
out Of the speculation In Wall street. |
The coinage OF silver as provided In the
Dill would not only depreciate silver bull
ion. but would depreolata gold bullion
and bring the two metals to parity. !
The government must either Issue fiat |
money or give unlimited use to both |
gold and silver
Mr.. Kerr, of Iowa, advocated the bin |
as long stop in the right direction. II |
would result in the reconciliation ofsil- |
yer, and In the two metals ultimately |
going hand in hand
Mr. Townsend, OF Colorado, said that |
would not return, and the |
downward course OF prices would not be |
arrested until silver was returned 10 its /
proper place. The only complete and |
perfect remedy was to reverse the action |
OF 1873, and go back to the free and un- |
limited coinage of silver.
Mr.. Dorsey, of Nebraska, said that II |
Secretary Window had purchased and /
allowed under the existing laws
-four millions per inonth). |
there would be no need OF |
this discussion, and he would have
strengthened the ad inistration of Presi.
dent Harrison. To that section of the
which provided for bullion
redemption MIR. Dorsey emphntically
objected. Would It not bc better to con.
vert tho redemption fund into the treas
ury. and use 1t as part of the circulat.
ine medium, and, In case United States
notes were presented for redemption and
there was no money to meet tho de-
lnand, To allow the secretary to sell |
bonds to meet the demand. The bullion
redemption feature should be stricken
nut, and he appealed TO his side OF tho |
house to allow the vote on the proposi.
ton.
MIR. McRae, OF Arkansas, appealed to
the gentlemen on the other side who be-
lieved in FREQ coinage 20 restore silver to |
It's proper place, not step by step, but as |
Il was destroyed, by one jump.
The house nt 4 O'clock took a recess |
until this evening