Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1891-01-07
SILVERY ORATORY
Senators Tackle Their New SUD-
ject Of Discussion.
TELLER, MORRILL, AND VEST TALK.

The Latter Corrects Report Regarding
the Ex-President's Position en- free
Coinage-The siIver-Republican-D Demo
cratic Combine observation-disclosures
Clause of Our Treaty with Nicaragua
Made PubIic-UncIe Sam to Defend Nc
aragua's Territory-Items.
WASHINGTON CITY, Jan. THE intro
duction of a new subject of discussion yes
terday in the senate gave the senators the
opportunity of getting their second
wind a" and ii the debate does not outlive
the present session of congress, signs are
all wrong Teller was the first hand III
the bellows and he began by Indignantly
denying that the comp" of Monday was a
put up job" between the silver Republic
ans and the Democrats. He wanted TO
know why, if the elections bill was so inn
portant, il had been laid aside at last ses-
sion to take up the tariff bill His reply
to Sherman's speech of Monday was
that il was composed of nothing
but assertions, and that the Ohio states
man had been on oil sides of all financial
questions.
Not In tho interest OF silver.
The farmers had ri-@ie themselver heard
last November-to his regret and the -e-
greet of the senators ON his side of the
chamber. They had been found voting
almost unanimously with the Democratic
party because o. their dissatisfaction with
Republican management of financial at
fairs aud for one, he did not wonder, at 1t.
Referring to the section of the bill provid-
ing for the purchase of l2, co., 600 ounces OF
silver, Teller said he never owned an
ounce of silver except in silver dollars or
half dollars. The pending bill was not
brought forward in the interest of the sill
yer states
What the silver states Want
The - 10000 ounces of silver were in
the hands of people in financial and polit-
ical circles in New York, and that was
the reason that there was so much anX-
iety about il in certain quarters. The
proposition had come from New York, and
not from the silver states. Their great in
terest in the question was that silver
be.used as money. That was a bigger ques-
tion than whether the miners of Colorado
and Montana were TO get Sl29 an ounce or
81 10 The fourth section of the bill he
regarded rs most remarkable one. 1t
was one which he was not willing to sup
port. II provided for the issue of 500. OOO,
600 of per cent bonds For the S2G0 600
00O of new bonds only $4,000 900 of out
standing bonds would be redeemed Thus
the national debt instead of being reduced,
would be increased
morrill, Defends the Bill
Morrill, said that "cheap" money was no
benefit to any one. His silver friends were
asking too much. He thought that the
the provision for an issue of per cent.
bonds TO take up bonds bearing much
higher interest ought to have found more
favor Those bonds would hardly find any
other takers than national banks wanting
currency for circulation, and under exist
ing law those banks would have to pay the
government | per cent. OF their circula-
ton, so that the government would only
pay per cent. interest upon so much of
its public debt as should be covered by
these per cent. bonds Nearly $50 0OO, go
of A. per cent. bonds would fall due on
the lst OF September 1891 The secretary
OF the treasury had exhausted his surplus
In the purchase of bonds, and what better
mode, Morrill, asked, could he proposed
for their redemption.
A Very Large Lunatic Asylum.
Vest argued in favor of the free coinage
OF silver The senator from Vermont. he
said, had spoken of the Democratic party
having "lucid intervals and had said. at
least by implication, that every public man
who favored free coinage was afflicted
with sort of finance lunacy Between
the two claSses-the Democrats and the
citizens OF the United States who favored
free silver cOinage-senators Gf the sena.
tor from Vermont were correct We're liv-
ing in "a very large lunatic asylum. because
the last election had developed the fact
that the entire face of the country was
covered with Democrats and with free
coinage people.
Statement Corrected.
Vest went on to allude to the statement
that he had received letter from ex-
President Cleveland recanting some of his
views on the silver question, and said that
it was a mere Pigment Of imagination
coming from some newspaper source and
that it had not the slightest foundation.
All that he Vest had ever said was that
he had reason TO believe that Cleveland