The state chronicle. [volume] (Raleigh, N.C.) 1891-1893, 1892-04-21
MIR. TELLER'S SPEECH.
FREE SILVER COINAGE AND THE
THE LATE FORCE RTEE.
The "EOnpositc Doilar''--Tie House
considering the Noycs-KoclS-
well Contest.

Considering the Noycs-Koch-
well Contest.
By Telegraph to the State Chronicle.
WAsHINGToN, April 20 (Senate.)
The proposed international naval re-
view, in connection with the Colum.
bian Centennial, was advanced stage
further by report made by the acting
chairman of the committee on naval
affairs, requesting that an appropria-
tion of $500, 900 for this purpose should
he included in the naval appropriation
bill. This was referred to the commit
tee on appropriations. The question of re-
curing railroad companies to provide
automatic couplers for freight cars in
order to protect the lives of brakemen
which has been twice commended in
Presidential messages to the action of
Congress, received attention in the
shape Of a bill reported by Mr.. Cullom,
chairman of the Interstate commerce
committee. Mr.. Kyle, Of South Da
kota, by request, introduced the most
remarkable financial bill of the session.
providing for the establishment of a
composite dollar" The chief clause
Of the bill enacted that the composite
dollar should be established in the fol-
lowing manner: "Designate so much
Of wheat, rye, oats, corn, barley, beans
potatoes, cotton, wool, butter. cheese,
eggs, flour, sugar, lard, pork, beef, to-
bacco, salt, leather, hemp, lime, cement,
cottop.seed meal, hay, brick, lead,
pig iron, coal and copper as shall be
conveniently near to one dollars
worth of each in the New Y ork market,
50 arranging quantities that the sum
total of the value of thirty articles
shall be thirty dollars, and that one
thirtieth of the sum total of the articles
designated shall be termed the COM
posite dollar of the United States. )"
Further provisions enact that an ac-
curate monthly average record should
be kept of the daily price of these
articles, and that it should be lawful for
any person or corporation to en-
gage to receive or deliver com.
po,ite dollars on this security.
Mr.. Sherman, who had given notice of
an intention to call up for immediate
action the Chinese restriction bill, an
nounced that at the time the com
mittee on foreign relations had been of
the opinion that the present restriction
law would expire on the sixth of May
next, but on a careful examination
Of the amendments made by the act o
May, 1862, he became satisfied that
the restriction laws did not expire unit
July, 1894, so that there was no in
mediate pressure for the assage of the
bill. Mr.. Teller, calling up, pro forma
Mr.. Morgan 5 resolutions as a text, ad
dressed the Senate III favor of free coin
age.l said that while the attitude of tht
present administration was hostile on
the silver question it was not NOR,
hostile than that of its predecessors
lie asserted further that Federal pa
tronage had been used TO influence tn,
House OF Representatives, which other
wise would have had majority sui
iicient to pass free coinage bill, an
Democrats hai been induced TO vet
against it because it was feared that
free coinage was passed, tn
great State of New Yor1
would 90 Republican. The influ
ence to European countries, who kne,
that if bi.metalism was adopted in tn
United States they would be compelle
to abandon the solitary gold standard
had also been brought to bear and COZ
solidated capital had maintained
lobby here, which had not been pal
aIeIled in strength during his MI
Ieller's) public life. He traced an
ascribed the low price of wheat arisin
from the successful competition Of Ii
dia to the demonetization Of silvt
by the United States in 1873. VI
Butler, of South Carolina, inquired
the same argument did not apply wit
equal force to cotton. MIR. Teller r
piled that it did, and if the discrimin
ton against silver was maintained
the United States, both our vhe
and cotton producers would
driven out of the market by Indi
The Republican party elected Pre-
dent upon platform, carefully pr
pared, which maintained The equal
Of gold and silver and condemned t.
Democratic party for its efforts to q
monetize silver. Several Republica
were SO confding as 10 believe tn
when this plank was put into the pll
form at Chicago it actually meant VIII
II said. 1t was thought to mean th
SILVER was to be used as money. w
i to be wondered at that this pl
form raised high hopes in c
orado, which stood third on t
list Of States casting
votes Tor the present executive?
was proclaimed in every mining cal
'hat the Republicans were the pa
u silver, and the leading men Of t
democratic party, in Difference to tn
candidate, did not dare to speak
4 word. REFERRING neyt IN the nul