The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1891-01-07

muuds, Evsrts, Frye. Hawley. ulscock, toars
Mcmillan, Manderson, Mitchell, Morrill,, Platt
Plumb, Power, Quay, Sanders. Sawyer, Sher-
man. Spooner, Stookbridge and Wilson
Qs.)-29.
The following pairs were announced:
Mr. Carey with Mr. Brown, Mr.. Hearst
with Mr.. Paddock, Mr.. Payne with Mr..
Farwell, Mr. George with Mr.. Blair, Mr..
Moody with Mr.. Voorhees,, MIR. Warren
and Mr.. Turpie, Mr.. Higgins and Mr.. Nc
Pherson, Mr.. Dawes and Mr. Colquitt,
Mr.. Hale and Mr.. Hampton, Mr.. Barbour
and Mr.. Squire.
The following were absent and not
paired: S-nators Blodgett, Chandler. In
gals, Pettigrew and Pierce.
The announcement of the result was
received with indications OF surprise and
disappointment on the republican side of
the chamber. but with no corresponding
signs OF undue elation on the democratic
side.
The force bill having been thus dis
placed and the financial bill taken up in
its stead, the latter was read by the clerk,
and Mr.. Stewart moved TO amend it by
adding his free coinage provision. He
argued in support of the amendment,
which he said would remonetize silver and
place it back where it had been before it
was excluded FROM the mints OF the
United States and Europe.
Mr.. Sherman said that the sudden and
unexpected change of scene and the in
PRODUCTION OF a new topic OF debate should
not allow the revolutionary measure now
proposed Mr.. Stewards amendment) to
pass without the serious and sober atten-
ton of every senator. The fact that there
had been an unexpected detection in the
republican party would not relieve the
minority of this body from its RESPONSE
bility. if it supported that measure. He
appealed to the sober srnse OF response
bi!ity on the democratic side OF the cham
Der against measure which he regarded
as revolutionary and dangerous, and the
effect of which, if it should become law
would be more destructive than that
of any measure that had been proposed
for years. If the friends OF silver had
only patience and would wait until the
element of time acted OH the silver law of
last session. the policy of the
L. S. government and of the French
government together with the use OF
silver in the South American states would
lift up silver again to the gold stand
ard, and that would give them god
value for their silver. He did not believe,
from what he knew now, that the bill
could pass, and if his democratic friends
desired some measure for the relief OF the
money market they would throw away
the only chance that they had TO accom-
plish the result which they desired. Mr..
Sherman went on TO say that the silver
act of last session, suspending the coinage
of silver dollars, tended constantly to ad
vance the price of silver bullion. ami he
had no doubt that il spectators had not
| entered into the arena, and If the OrdI-
nary course OF business had been allowed
to deal with the mass OF silver, and 10
have 4,5000O0 ounces OF 81 yer purchased
| monthly, the price would have been
slowly enhanced until, in a few years, 1t
might have reached gold But speculation
had entered into il, and an undue adj
vance in the price of silver had been
forced by a combination until it had
| gone up to 120; and then. as more and
more silver came upon the market sud
| denly, the price had fallen.to leo, showing
that the rise and fall had not taken place
in the natural course OF business, but as
the effect OF struggle between the bulls
| and bears. He sympathized with the
views of the president and OF the secre-
tary OF the treasury, and with the general
feeling of republican senators, that the
best measure Of relief would be the pur-
CndSe OIL Ill0 IO,VOO,OuO vi blNtl Ou tiIC
market, and the first section of the bill
has made provision for that. That would
have got it out of the way. He did not
have any sympathy with the men who
kept that silver to control the market, in
the hope that it would advance up to the
standard of gold The finance committee
proposed to take off that load from the sil-
yer market, and buy it up at its market
price, and then to let the law of last session
take its course.
Mr.. Stewart replied TO Mr.. Sherman
argument, and Insisted that it was not the
silver men, but the gold ring that had
tampered with the standard in demonetiz-
ing silver.
Mr.. Reagan also replied to Mr.. Sherman,
and advocated the adoption OF Mr.. Stew
arts amendment. He trusted that the
senate would provide for the free and un-
limited coinage of silver. Adjourned.