New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-02-26
NO SILVER POOL EXISTED.
REPORT OF THE INVESTIGATING COM
MITTEE.
o,vvRry,s DISMISSED AS ROMANCE
NO EVIDENCE FOUND TO SUPPORT HIS
ORIGINAL CHARGES.

OWNBEHS ENlDENCE DlSl1lSSGD 40 monaco
NO EVIDENCE FOUND TO SUPPORT HIS
ORIGINAL CHARGES.
Washington. Feb. 25.-The silver Pool investigating
rommittee made its report to the House this evening
The report, which is unanimous, gives the history ol
The Investigation, abiding TO the more important &C.
tImony, but not reviewing it in detail. 1t di'mlSscN
tho testimony of Mr.. Ownbcy as the product OF a " ro-
mancer,o whose imagination is not restrained by lc
limitations Of truth. The report says: .
Prior to the examination Of Ownbey the testimony u
Senator, Vest and Cameron and Mr.. Litter Clouih' o"'
the fact that the latter had purchased silver iof o'"'o'
Cameron pending the silver legislation OF Iast sc'r'V"'
and had solo. II by the Senator order before 'he ~
bin passed. Subsequently Representative Abner Iall",
OF Illinois. appeared before the committee ana VS"' "
that he bought silver after the silver DIX De''"'
a law. and when no additional silver legislation Ms P'
nosed or eH INJECTED. and had sold 1t In August last.
1t Is but just TO say that a statement mace on JIG '~'
+. II. Conger in debate in the House on the lin Va 'rI
1890, to the effect that he had been "appFoicheu " !""
silver pools" furnished some excuse for ue puma,
ton Of the general ALLEGATION that silver pools eA4'Vu
pending the silver legislation oi July OIL ""'
but none for the charge that certain Senators a1 i,r'
sentatives had accepted such invitation NJ Ooh5ei' '"
now the Minister 10 Brazil. and therefore beAOhu "i III
diccion. W requested by cable ~ transmit 10 the cOh''''0
the names of persons who had approached him. IN o'"'I
that they might be subpoenaed, but he declined 10 % 50
The fact that the exaggerated expressions sometimes ''4o
BY a member in the heat of debate, in order 70 further OF
defeat a measure, may furnish an excuse for II not Nus'
get such dispatches affords an additional reason if "
careful avoidance in debate OF limitations that corrupt H.
nuences are being brought to bear upon members to ai'cct
legislation, unless the member making such insinuatioh'
is prepared 10 substantiatc the charge. IL is well under
stood that a good measure is seriously weakened by even !
suspicion that improper means are being employed TO ad'
vance II.
Your committee have been unable to obtain any evil
dence 70 support Ownbey's original charge that there Wa
a silver pool or organization Of silver Spectators, when
had made large purchases of silver bullion, and was exert
ing it, combined influence to bring about silver legi'il'
ton which would cause an advance Of silver, and thereby
bring large profits TO the manipulators. There were many
sIeculstorS buying silver individually, and probably in
some cases in company. for an anticipated rise through
expected legislation, and undoubtedly cNerting more or
less influence on public sentiment to bring about such
legislation but there is no evidence that there was any
pool or combination OF such spectators working together
TO this end. or that any Senator or Representative was
connected with such a pool.
The only Organized or combined effort to induce silver
legislation disclosed by the evidence was the public
organization known as the "Slvcr Committee" appointed
by the st. Louis Silver Convention. which has had its
headquarters at Washington during the past year. This
committee, according TO the testimony of Francis q.
Newlands. Of Nevada. one Of its members. has printed
and distributed hundreds Of thousands Of pamphlets and
circulars. published articles in newspapers and main.
tanned agents in the field to visit organizations pait!c-
ularly Farmers Alliances. in various parts Of the country
for the purpose Of working up and securing the expression
q a public sentiment in favor Of free coinage Of silver
at a ratio Of 16 to l Of gold, at an expense. including
the salary Of the secretary, Of not less than 10000 nor
more than $4,000 during the past year, which expense
has been met by voluntary contributions O., owners OF
silver mines and bullion and others favoring such legis-
latiOn.
There was no evidence, and the committee has no rca'
son to believe that this committee, which Ownbey described
as the Head Silver Pool had any connection with sil'
yer speculatiOns, or expended any money otherwise than
for the purposes above stated. The organization appears
TO be similar in character to many other organizations de-
signed TO influence public opinion to secure legislation.
There is no evidence that any pool, combination, syn
dictate or individual Spectator or spectators furnished
money 10 enable members Of Congress 10 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 syn.
dicate, as charged by Ownbey nor any evidence that any
Senator, Representative or Government official indiVidu-
ally invested in silver bullion, or was directly or indi-
rectly interested in silver speculations pending the silver
legislation Of the first session Of the present Congress, eX.
cept that referring TO Senator Cameron.
The evidence shows that one Representative purchased
silver after the act OF July II. 1890. was passed. and
when no silver legislation was pending or proposed, and
sold IL in August. There Is no evidence that any Rep
resentative is now, or has been during the present session
Of Congress. directly or indirectly interested in silver
bullion, or certificates representing silver bullion.