The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-02-14
GROWERS MIGHTY VETO.
zpEE COINAGE KILLED BY THE
Ex-PRESIDENTS LETTER.

cavelsnd. with one brief letter, did what
President Harrison has not been able 10 do
With a hundred private messages to CON
rrsss. coupled with threats and warnings to
III the republican senator's and representa-
tves who called at the white house. Pres
;dant Cleveland has killed free coinage for
this session, after the administration had
exhausted its powers in Intellectual efforts
In do so. The free coinage men do not
admit, of course. that free coinage is dead.
Naither did the force bill men admit that the
force bill was dead until days after it was
buried, but their action speaks louder than
words
TELLER STARTS SOUTH.
Senator Teller of Colorado, who has been
in III health for some time, but would have
stayed here until March 4 if he had be-
Neyed there was any chance for free coin
age. left to-day for the south, not to return
unless he is sent for. The House free
coinage men showed what they think of the
situation by postponing until Monday the
caucus which they had postponed until to-
night This caucus was to agree upon some
scheme, probably the limiting of free coin
age 10 the American product, which was to
be put through as a compromtse, but
ex-President Cleveland's letter took all the
hope out of the prospect, and tonight some
of the men who asked that the caucus be
called left for their homes, satisfied that
nothing could be done this session.
sTEwARTs's TALK
Senator Stewart is still talking of getting
free coinage rider to one of the appropri-
alton bills, but he cannot; his own commit
tee on mines and mining, to which he had
the proposition referred up to the point Of
pressing it. and IL he could get it out it
would De beaten on q point of order either
In the Senate or the House. Il is given out
by the free coinage men in the House that
the coinage committee will report silver
bill next week, but If 50 it will be too late
for success. President Harrison will have
to keep his veto until the next congress.
Ex-President Cleveland's veto has served
for this.
MONEY A DRUG IN NEW YORK.
Chairman Wickham laid the following
telegram from Charles s. Smith. president
of the New York Chamber of Commerce,
before the House coinage COMMITTEES: ZAP
plicaton has been made to-day to
the assay office for $1,000. 900
gold for shipment tomorrow. The
clearing house banks have to-day more
than $2O. .000, 600 in excess of the legal ten
der reserve. Money on call is a drug at
per cent. per annum. Currency IN the
shape OF bills is now accommodating in New
York banks far in excess Of tine demand
OTHERS ALSO ASK HEARING.
He also laid before committee a letter
from Darwin r. James, secretary of the
New York board of trade and trans
portstlon, stating that the board had ap-
pointed committee of five members to
present its views upon the pending free
coinage bill and asking when the commit
tee would be able to grant the hearing de-
RnnracorsA Aot L,I
personal letter suggesting Tues
day as the day which would be
agreeable to the members of the board; and
MIR. Waugh moved that they be heard on
that day. Mr.. Bartine moved to substi-
tute Monday, and after the usual inter-
change OF words between the committee
men, Mr.. Bartines motion was carried, with
put one dissenting vote, that of Mr.. Walker,
MIR. Vaux voting with Mr.. Bartine.
LETTER FROM THE sELIGMAN's.
Some extracts from the letter from Selie-
man Bros. q Co., bankers CT Paris, to Rep
resentatlve Hit Of Illinois, were also laid
before the committee. 1.-THE late silver bill
consider a splendid law, but its beneficial
effects Will only be gradually felt,
and not before several years have
elapsed, inasmuch as a, 500, 900 per
month is Insufficient for the time being to
prevent these artificial and periodical tight
snaps: hope and pray that the free coin
age silver bill will never pass an American
congress. 1t would positively cause mot
long after its passage) ruin and desolation
throughout the country. At first there
would take place booms-very dangerous
oooms-but the end would positively be a
Crisis such as the promoters of free coinage
can have no idea Of country like the
United States, the first and foremost nation
OF the world, must have a lasting honest
currency currency. Free coinage would be hailed
with JOY in Europe. France, with $780,
OJOO 900 to $500, 900 600 in bank and among
me public. would feel grateful to you were
Ihe unlimited free coinage bill to become
law; nsS You would get from France alone
SooV,oOV,OO0 worth, and that quickly.
Know that wheh silver was
quoted at 64k short time ago
IN IN London, high placed officials
N me Bank of France favored sending part
VI the banks silver to you. Germany has
an Immense stock of silver bars which you
WIN get; SO have Italy and several other
countries in Europe. India would send
you Immense amounts of silver instead of
eenoing the same to China. England
would would be greatly benefited by it. With un-
,illGsd Tree coinage for you, London, with
golo standard, would become more than
ever the center of the worlds banking bust
ne.s cannot, and no sane man In Europe
can, believe that the congress Of the United
sUaeeS VIII vote such bill, with its una
'0'uaoie disastrous consequences"
DENIAL THAT MONEY is EASY.
francis g. Newland made an argument
.oruned by statistics, TO the effect that
ttLLoaey was not now easy and plentiful, and
.nat the necessary annual addition to the
ttolune OF money could not be obtained
., .ielh gold alone. Mr.. Newlands finally
usYer some questions had been put to him by
metnoers Of the committee, said he saw no
.etpJecelon to limiting our silver purchase to
;S ;ue nome product. Secretary Windon had
;;n'oIined ;n him there would be no difficulty
tr b,,,. distinguishing foreign from American
.. .EdWard R. Holden, smelter and miner
VI t colorado, was the next person heard in
siiYocacy OF free coinage. The question of
oHVer coinage, he insisted, was an internal
but bue IL was demand for more money and
tset'er money. He declared 1t an absurdity
I the gold advocates to represent this
dlsSnon as one of international Importance,
anl asserted that the United States was in
POSITION to demand from foreign coun-
~ 'os paymensfor our products in any kind
VI money desired.
Ane committee then adjourned.
Pisagua Bombarded
= O. ~ A.