The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1891-01-29
SILVER LEGISLATION.
Mr.. Dorsey, Of Nebraska, Says
There Will Be None.
FREE COINAGE is LAID UP
For a Year, at tLrast...sp speaker Bced's
Programme Well lIuown...The
Initiative in the Gold Move
mcnt...washington Notes.



Special Dispateh 70 he IatdiigHer.
WAsuISoroS. d. C., Jan. 2S.-"TherI
In ~ - snsno;oI ,oo;.lo,;nr drr;r,
WIN DC no nnsnc'al legislation uul'pt
the present Congress, SAID MI. dorsey
, OF Nebraska, in talking to-day about the
nrosnac,s of lepislativa work for the anexi
a. l,ooLs NJ no,soy !. chairman n
ufe neeA'' %At' ."t " - "
the House Commlttee on banking anu
Currency and enjoys the confidence Of
Snsaker Rsed. II Ia understood that he
~. o..,.,..od n,;,h ,I,o s,ooi,ar =
mas Ius1 complsseu WIZ 'uo S'o"Aet .
canvass ot the House on the silver ques'
tion. "There is a deep.seated disquiet
among MANY of the most ardent friends
S--e '.a' -.,.... -, o,oo;,nt ~ .ho I;.-
OF lree colnaHe W SoO'uH' - ..e "i'
placement OF the cloture resolution in
the Senate" !" continued Mr.. Dorsey, "and
Repub lean members OF the House who
would two days ago have voted for un.
limited coinage will not countenance II
now. They declare that any kind OF a
silver bitl would honor the unholy aili-
aBce between the boiling Republicans
and Free Coinage Democratic Senators
/ have seen the time when I would have
voted for unlimited coinage, but would
not now.
"My objection is not based upon poll.
tical. but economical grounds. Ltwould
not take sixty DAYS il We had an un.
limited coinage Law 10 take every dollar
Of our $500 900 900 OF gold out OF circula
tion. ana IN less tnan a wear II would be |
at premium probably Of twenty. i've
o.r cant. Under euch circumstances il |
would be bankruptcy 10 meet outstand
ing OBLIGATIONS niost OF which are paya.
b,s in VOID. rnsre was talk about a bill |
giving Iree coinage for American silver
Snly, but that cannot be passed. /,
would have to lew duty upon foreign
silver and of course the Democrats would
not vote for that, and since not all R4.
Republicans are for free coinuga
even for American silver alone,
it would fail. Then there is
danger In bringing measure OF that
sort before the House at this time. 1t
might be- amended With unlimited coin
ave and the President could not sign a
free coinage bill, especially in view OF
the disclosures Of the silver pool iuyes.
tigating committee"
1t Ia very generally understood now
among those who stand nearest the
Speaker that there will BE- no financial
measure of.any character passed at this
session, and consed uently within a wear.
The statesmen from New York, Boston,
Philadelphia and other money centers
say that tue fear and uncertainty about
financial legislation more than anything
else made money scare; that the large
capitalists in the East are opposed to
FREQ coinage, and fearing it, are hoard
ing their money, withdrawing in from
circulation, anticipating contraction
should there BIZ unwise action at the
hands Of Congress, and this alone made
times hard for those who have to
borrow,
Speaker Reed saws that as coon as Con,
Rress aoiourns without any legislation
npon ths financial Question, money will
begin TO bscome easy Of access. and
aItbouph OBLIGATIONS to nav notes, mort.
gnces. bonds and all sorts OF securities
NAV ba made redeemable in gold, money
viii be readily obtainable and interest
will depreciate. He looks for good
times with the opening OF spring busi.
mess.
While the Speaker will not say for
publicaiion what he thinks will be done
with the demand for action upon free
coinage, those who have his confldencs
ouote him as savinp there will be no leg.