The morning news., 1891-02-26
SPECULATION IN SILVER.
THE COMMITTEE REPORTS THAT
THERE WAS NO POOL.

Owenby Called a Romancer Whose
Stories Are Unworthy OF Credence.
The Committee Reviews the Testi-
mony Given Before It-Nons Of the
Representatives in ANY Silver Deals.
WASHINGTON, Feb. 25.-The silver pool
investigating COMMITTEES made its report to
the House this evening. The report, which
is unanimous, dismisses the testimony OF
Owenby as the product Of ''romancer,
whose imagination is not restrained by the
Limitations of truth Prior to the examina-
ton of Owenby, says the report, the
testimony of Senators Vest and Cameron
and David Littler brought out the fact that
the latter had purchased silver for Senator
Cameron pending the silver legislation of
the last session, and had sold it by the
senator's order before the silver bill passed.
TAYLoR's TESTIMONY.
Subsequently Representative Abner Tay-
lor of Illinois appeared before the commit
tee and testified that he bought silver after
the silver bill became a law, and when no
additional silver legislation was proposed or
expected, and had sold it in August last.
It is but Just TO say, the report continues,
that the statement made by Hon. Z. II.
Conger in the debate in the House on June
10, 1890 to the effect that he had been ZAP
preached to join silver pool" furnished
some excuse for the publication OF general
allegation that a silver pool existed pending
the silver legislation Of July Of that year,
but none for the charge that certain soma
tors and representatives had accepted such
invitations.
coNGKR DECLINED TO COMPLY.
''Mr. Conger, who is now United States
minister to Brazil, and, therefore, beyond
our Jurisdiction. was requested by cable to
transmit TO the committee the names Of the
persons who had approached him, in order
that they might be subpRnaed, but he de-
clined 50 70 do. The committee have been
unable to obtain any evidence TO supports
Ovenbys original charge that there was a
silver ''pooln or organization of silver spec
ulators, who had made large purchases
of silver bullion, and was exsrting its COM
bfned influence to bring about silver legis-
iatfon which would cause an advance of
silver, and thereby bring about large
profit to the manipulators.
THE ONLY SILVER POOL.
"The only organized or combined effort
to introduce silver legislation disclosed by
the evidence was a public organization
known as the silver committee appointed
by the st. Louis silver convention. which
has had its headquarters at Washington
during the past year. This committee, ac-
cording TO the testimony OF Francis g.
Newlands of Nevada, one of its members,
has printed and disturbed hundreds of thou
sands of pamphlets and maintained
agents in the field to visit
organizations, particularly the farmers
alliances i'm various parts Of the country for
the purpose OF working up and securing an
expression of public sentiment in favor OF
free coinage OF silver at the ratio of 16 TO l
of gold, at an expense, including the salary
of the secretary, of not less than $40, 900 nor
more than $l5, 900 during the past year,
which expense has been met by voluntary
contributions of the owners of silver mines
and bullion aud others favoring such legis-
iation.
NOT IN 5PECULATIoNs.
''There was no evidence, and the COM
mlttee has no reason to believe that this
committee, which Owenby described as the
"head silver pool, has any connection with
silver speculatons, or expended any money
otherwise than for the purposes above stated.
There is no evidence that any pool, COM
bination, syndicate or Individual speculator
or speculators furnished money to enable
members Of congress to invest in silver,
or carry silver with the understanding
that such members of congress were to
have the profits, or that any senator or
representative was interested in any silver
pool or syndicate, as charged by Owenby,
nor any evidence that any senator, repre-
sentative or government official individ-
ually, was interested in silver bullion, or
was directly or indirectly IN silver specu-
lation pending the silver legislation Of the
first session Of the present congress. except
that referring to Senator Cameron.
.'The evidence shows that one representa-
tive purchased silver after the silver act OF
July IA, 1890, was passed and when no sill
yer legislation was pending or proposed and
sold it in August. There is no evidence that
any representative is now or has been dur
ing the present session of congress directly
or indirectly interested in silver bullion or
certificates representing silver bullion"