The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1891-01-07
THE FINANCE BILL.
Teller Discusses the Merits of
Free Coinage.
SILVER SPECTATORS STORED,
to Believe Cleyel and has Modified
His Views on Silver.

WASHINGTON, Jan. 6.-But seven Sen
ators were present at 10 o'clock when the
Senate was called to order, and resolution
was adopted requesting the sergeant-at-
arms to invite the absent members to ap
pear at their own convenience. After the
lapse of three-quarters of an hour quorum
appeared.
The presiding officer laid before the Sen
ate a communication from the secretary of
the treasury, asking for an appropriation
OF $4,000 for the repair of the government
building at Chicago. Referred.
Consideration of the financial bill was
resumed, and Teller addressed the Senate
in regard to it. For weeks, he said, bill
had been pending before the Senate, the
Importance of which he did not under-rate,
the benevolent purpose of which he did not
question, still yesterday, with full knowl-
edge of all the criticism his action would
bring, with full consciousness, however,
that he was acting in the discharge of his
duty, as he saw 1t, he had voted to lay that
bill aside and take up the present measure.
Teller said he supposed the SANDERS that
had been perpetrated for the last eight or
ten months would be renewed, at least out
side of this chamber, to the effect that the
friends OF the free coinage of silver had
entered into an alliance with the opponents
OF the election bill for its defeat in return
Tor their votes in favor OF free coinage
Ihefe never was more unfoundod SANDER
published than this. Teller proceeded to
criticlse Sherman's speech, which he de-
clared consisted of nothing but assertions
as to what would follow the passage of the
pending bill. The Senator from Ohio had
declared the country was ON gold basis
Ihe Senator had attempted 10 put the com
try on that basis, but had been unable to
do so. The Senator had wonderful facility
OF being on all sides of all financial cues
lions.
Referring to the condition of American
farmers and showing it to be less pros per-
Gus than that of the farmers of France.
Teller said the farmers of America made
themselves heard last November To his
regret and the regret of Senators on his
side OF the chamber, they had been found
voting almost unanimously with the Demo-
cratic party. They had not changed their
politics, but they had been dissatisfied with
the Repuollcan management of financial af-
falrS, and for one, he did not wonder at it.
He had tried last year to have the Senate
listen to their voice He knew they wanted
the free coinage of silver.
Proceeding to discuss the section of the
Dill providing for the purchase of II. 900, 00C
ounces of silver, Teller said he washed his
! hands of any responsibility for that He
! had no interest or sympathy with men who
| speculated in silver. He denied any knowl-
| edge OF the alleged silver pool The pend.
ing bill was not brought forward in the in
terest OF the silver states. If the II 000,-
! OOO ounces of silver We're in the
| hands of the miners of Colorado
there would not have been any anxiety
| to buy it up; but it was in the hands of DO
lltlcal and financial circles in New York
and that was the reason why there was 81
much anxiety about it in certain quarters
he said the proposition had come from
New ork and not from the silver states
| they were Indifferent about it and they
were Indifferent TO the prices of silver q:
| a single question. They had some interest
OF course, in putting up the price Of gold Of
| any other commodity which they produced
| but their great interest IN the question wa:
! that silver should be used as money.
! He opposed the fourth section of the bill
| which provides for the issue of 500. OOO. OOl
IN per cent. bonds. 1t was, Teller as
| serted, in the interest of two classes only
| the silver spectators of New York and the
bankers of the country; it absolutely ig.
nored the people OF the United States apc
their demands for more money. He alluded
to the silver bill Of last session as a mere
make shift, and said there was but one sure
method and that was the free coinage O.
silver
Sherman said he would at some futur,
time reply to some Of Teller's observations
but he did not care to do SO now.
Morrill, then addressed the Senate II
view of the late financial panic IN New
Y ork and OF the rather popular demand TO
some increase of the currency, he had beer
willing to stretch point in order to keel
step with the Senators from Colorado ant
Nevada. But the appetite grew by which
1t fed upon. 1t had not been enough Il
assent without a whimper to the purchas
of So, 900, 600 worth of foreign silver sup
posed to be IN the hands of spectators no
to assent to a provision for the issue O
treasury notes to the extent of $3.50 coo, 90
to purchase silver bullion, but it was pro
posed, whenever the market price of rsilve
bullion should be 81 or over for 81
grains of pure silver, that the purchase O
silver should cease and that free coinage O
silver should take place. And yet all thes
propositions tipped with silver, promised
Morrill, said, no fnality but were t
} ''stretch out to the crack of doomn H
. was, and ever had been, sincerely an
heartily disposed to support any fair an
, reasonable measure tending to advance tn
) market value of silver; but it appeared t
him his silver friends were asking to
much and he had to halt before plungin
into the shoreless and bottomless sea. On
of the most potent iDstrumentalities in til
march of civilization was an honest an
unalterable stsndard of money.
Vest argued in favor of free coinage @
silver He replied to Morrill,, and in tn
course of his remarks alluded to the state
ment that he had received letter fror
ex-President Cleveland recanting some G
his views on the silver question as nc
having the slightest foundation. All thu
he (Vest) mad ever said was that he ha
reason to believe Cleveland had, afte
further examination, modified to some e.
tent his opinion in regard to the free coir
age of silver. AS to the alleged combine
ton between the Democratic Senators an
: the silver Senators, he denied its exis
ence.
At the close of Vests remarks the Senat
went into executive session and soon a,
journed.
The Glasgow Railroad Men RiOting.
GLASGOW, Jan. 6.-At Coalbride. mir