The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-01-08
DANIEL TALKS OF SILVER
HAS NO FEAR THAT EUROPE
- WILL UNLOAD ON Us.

WILL UNLOAD ON Us.
,.,.-r,sn's Speech Declared Contra
s.c+orv and an Argument for the
co,d standard-More Silver Means
,fore Gold, on the Theory that
Money Begets Money-Seyeral Other
sneeches Made.
W.sH1EeToN, Jan. Tin the Senate
,bis morning Mr.. Hale presented the con-
i.rsnce report on the public printing de-
s.;sncy bill and explained that the Senate
oopferees had withdrawn from insistance
=, the amendment for the payment OF two
.-o,tbs, eo,npensation to senator's clerks,
-, With a notification that the whole sub
;o,t would come up again on the legislative
snnroprjation bill, when an attempt will
~ made to have the matter settled on the
b.sis of a reasonable annual salary for per
diar The report was agreed to.
IT, Sanate then proceeded to business on
.ba ca1sndar under rule 8, the first bill being
.bs House bill to provide for elementary
va industrial education in Alaska, appro-
~-;stino $50 900 for 1892, $40, 900 for 1898,
ssG O00 for 1894, $4,000 for 1895 and $780,
c60 for 1895. After discussion the bill was
laid aside without action.
THE FINANCIAL BILL.
The financial bill was then taken up, on
notion Of Mr.. Stewart, who suggested at
The same time that an hour should be fixed
tor takipg a vote on the bill and its amend
,Usnts and he proposed o'clock Friday
next The proposition met with no par
tcuN opposition on either side, but,
As Mr.. CocKerel suggested, it would
la Nt,A ffNf,
goover to tomorrow. Mr.. Stewart assented,
and said he would tomorrow ask to have
the time fixed for taking a vote on the bill
and il, amendments. Mr.. Daniel addressed
the Senate. declaring himself in favor of
absolute free and unlimited coinage of
silver.
It was happy omen, he thought, for the
country and for the Senate that on the first
day of the legislative session OF the new
wear the Senate should have laid aside the
only measure on the calendar that seemed
TO Involve sectional friction, and which
would have been las many apprehended)
disturbing to the cordial and every day
improving relations now existing between
all sections aud races Of the country.
II was also he thought, happy omen that
in RELOCATING that measure to what lit was
fondly hoped by the majority Of the Ameri-
can people) would be it's permanent retire.
ment, the Senate should have turned its
face to the consideration of a measure which
concerned the welfare of every man, woman
and child Of the nation.
TIE COMBINATION.
Abiding to Mr.. Morrilrs prophecy of
yesterday Of very brief honeymoon in the
union between the senators from the silver
states and the democratic senators Mr..
Daniel said that if length of court
ship was any security for the happiness OF
marriages, the union which. took place
last Monday was one that had been
preceded by as long courtship as in the
famous scriptural instance, Jacob and
Rachel. Referring to Mr.. Sherman's re-
marks as to the taking up of the finance
bill being a revolution, Mr.. Daniel said that
If it were revolution it was one whose
wheels had revolved slowly. 1t was simply
revolution, or rather an evolution in
which the fullness of time had come and
had brought ripened fruit, meet for the use
OF the people. There never had been vote
cast In the Senate which more thoroughly
represented the temper of the public mind
and majority of the suffrages of the
people than that vote in which the Senate
declared that it would proceed to the con-
sIderation of the financial measure.
sHERMAN's SPEECH CRITICISED.
=, 10 criticism OF Mr.. Sherman's speech of
Monday last, MIR. Daniel said that if he
were attempting to make syllabus of it he
would state condensed analysis Of it some
Waat thus; First am opposed to free
coinage OF silver, because it will initiate the
currency. Second-I am opposed to free
coinage Of silver. because it will contract
tne currency" Both of these arguments
aaa been deliberately made by the ssna-
UF rom Ohio and deliberately elaborated.
ne Mr. Sherman) had told the Senate in
ole breath that IL silver were ilIimitablv
olel there would be more dollars, and the
H%Elngman and producer would get more
eoIaEs for their labor, and then had
turned round and said that free
cluage OF silver would contract the cur
TTehcy, because it would demonetize gold.
~ ~ was possible, Mr.. Daniel said, that one of
suoSe arguments might be correct; but it
was "ss utterly impossible that both of them
Soia Suia be, because the currency could not be-
'DNa'eu ana contracted at the same time.
MORE SILVER MEANS MORE GOLD.
~ further criticism of Mr.. Sherman's
speech, Mr. Daniel asserted that more silver
ot uSa always meant more gold. At the time
~ S uus passage OF the Bland act there had
'g oUTu less than $500, 600, 900 of gold in cir
suiA'lon, and ever since then gold had been
;u ;uo' easing just as silver had been increas-
ny mat was but an illustration of
u3 great fact in economic science that
uonsy produces money. As to Mr.. Sher-
sTas als condemnation Of speculation in
TnseF % bullion, Mr.. Daniel said that there
.rS "aS " nut one way to stop such speculation,
~ -1G tnat was to admit silver to the royal
.1s sEnt OF moneY-hood. Ths moment that
Saa.'s S...eE mad that royal right which gold pcs
moS DSSol 70 turn itself into dollars, that very
TTouent the future Of silver would be flxed.
rSi.l car s OF gold becoming a commodity,
s.,.ol nt.on Mr Sherman considered such dis
Al. Mus thing, had no more terrors for him
49,, ~. DanleD than that OF silver becoming
ocrrHuuIiodlty. He knew that the two metals
nosi!S suS 70 De brought as near to parity as
tssSSsloie, out he also knew that the legal
W.. u, quality impaired to metals
Na tns greatest appliance in bringing
rcoa scn 70 that party. 1t might as well be
~. n.gnlzed, Mr.. Daniel sad, that the war
"a isSiss0 u silver was carried on by those who
u&ed investments, who wanted to en-
so5 ce continually the value of gold dollars,
snS "Io, through the senator from Ohio
~. Sf,a o9thers, were trying to convert the na-
norIIm rom joint and double standard Of
'-sy 70 single gold standard.
NO DANGER OF GLUT.
ssa as 70 the suggestion that under free coin
) VI silver all the silver in Europe would
Jumped into the United States, MIR.
ma NE ~ said that that was one of those vague
ors..i ormldable ideas which were very i'm
inIStve iSot,, with ignorant people. Onlne
u'''"n ua pro ndgnitico. There was
Bst very best evidence, he said,
dra tnere was no great bank
VET anywhere in the world that coilld