The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-04-05

Senate on the question Of free coinage Of
silver He proposed TO strip the mask of
the faces OF these party men and to make
them look the matter dead in the face.
BUYING BUT NOT COMING.
He had written letter to the director Of
the mint last Saturday asking him some
questions as to the action of the treasury
under the silver bullion purchase act of 1890
and had letter in reply, in which a state
fnent was made, in substance, that the coin
age OF silver bullion purchased under that
act was discretionary with the Secretary of
the Treasury. The coinage of silver dollars
had, in fact, Mr.. Morgan said, stopped, and
the idea was repudiat cd 10 the treasury that
congress. in the act of 1890, did anything
more than merely grant discretionary per-
mission to the Secretary of the Treasury
to coin as much Of the bullion
purchased under that act as he
might consider necessary. The provision
for the redemption Of certificates used in
purchases under that act meant, on It's face,
as construed fairly and properly and as un-
derstood at the time Of its passage, that to
provide for the redemption of the dollar
note there must be a silver dollar coined and
made up ready for redemption-and so
with the millions. But the Secretary of
the Treasury in practice and in theory had
adopted rule in his department by which
IL was held that it was entirely discretion
ary with him what amount he should 1iu
and when he should coin it, The object
OF the acb Of 1890 had been expressed
in these words: 1T being the es-
States to maintain the two metals on
parity with each other on the present legal
ratio" What did congress mean, he asked,
by putting thai language in the acta
PILING UP THE BULLION.
Mr. Butler-Is it true that the monthly
purchase Of silver Is still going on, and that
the bullion is being piled up in the treasury2
Mr.. Morgan-Yes, S56,0O0,000 worth a
year. want to know what we are going
to do with the bullion when there gets to be
$l00,0O0000 worth in the treasury.
Mr.. Sherman suggested that as long as
silver bullion was purchased certificates
would continue 30 be issued against it.
"When does the senator from Ohio pro-
pose to stop this piling up of silver bullion
in the trsasury3 Where does he propose to
put the limit Of accumulation of silver
locked up and Kept within prison bars and
out Of competition with golds What dtspo-
sition will no make Of itp
Mr.. Morgan argued that the plain inten-
tion Of tbs law of 1890 was that all the sill
yer purchased by virtue OF its provisions
should be coined. In the course of his srgu-
ment Mr.. Morgan remarked incidentally
that one of the consequences of the
defeat Of free silver legislation would
be the nomination of ex-Presideut
Cleveland, but Mr.. George interposed the
remark that he had his doubt about that.
He also referred to Mr. Sherman as being
in the lead Of large faction of the Demo-
cratic party of the United States as we'll as
Of the Republican party.
At O'Clock the unfinished business was
laid aside, aud Mr.. Morgan was allowed TO
proceed with his speech. In the course OF
b. a.
come to the presidency with a sort of Wall
street congestive chill on him, as commenc-
ing to prOphesy evil, and as throwing the
whole weight Of his administration against
silver beginning with letter which he ad-
dressed to the members of congress before
his inauguration, in which he begged them,
by all the saints in the calendar, to suppress
and destroy silver coinage.
SHERMAN FAILS TO ANSWER.
He again brought up the charge that Mr..
Sherman was responsible FOR the demon
etizasion of silver in 1873, but Mr.. Sherman
was probably not in the chamber at the
time, at all events he paid no attention to
the so often repeated and SO often denied
charge. Mr.. Morgan, in conclusion. said
that he would let the act Of 1890 stand, but
he would make it compulsory on the Secre-
tary Of the Treasury to coin the silver
bullion purchased. II the senator's
could only forget ex-President Cleveland
and Senator Hill and Senator Carlisle and
Senator Cullom and Senator Allison and
the other great and good men who we're
aspiring to the presidency Of the United
States and the honorable senator from
Ohio (Mr. Sherman), IL he had not discarded
all such pretensions, if the senators could
discard their triendliness for these aspira-
tions and would come together and lock
their hands on the silver question and say
H6ry a all hat lam or,d dagn Tod
love Of country suggested. there would be
no more trouble about the silver question.
Mr.. Morgan spoke for three hours.
SHERMAN MOVES TO TABLE.
AS soon as he resumed his seat Mr.. Sher-
man rose and said that he did not intend to
enter on discussion of the silver question,
but he wished to have the sense Of the Sem
ate whether the senators were to have a
silver debate; and in order TO have that
question settled definitely he proposed to
move TO lay the resolutions on the table.
Mr.. Teller-The senator can hardly take
advantage of US in that way.
Mr. Sherman do not propose to take
any advantage.
Mr.. Allison asked the Vice President as a
point OF order whether the resolutions had
not passed from consideration Of the Senate
and had not gone to the calendar at 2 o'clock,
the senator from Alabama having been al-
lO"5u, ny COURTESY, w pAOCSSu WIN Ills Ie~
marks.
The Vice President expressed the opinion
that under the rules the resolutions had
gone to the calendar.
Mr.. Sbsrman-Then they cannot be taken
up except on motion.
THE SILVER MEN DETERMINED.
In colloquy following, Mr.. Teller de-
clared that Mr.. Sherman could never pre-
vent discussion of the silver question in the
senate unless he secured a clotsure rule,
which he had failed to do last year and
would fail to do again IL he renewed the at
tempt. The silver men proposed to address
the Senate, and would do it, If not on MIR.
Morgan's resolutions. then on any other mo-
ton or business that might come up.
Mr.. Sherman spoke for half an hour in
reply TO Mr.. Morgan's argument. He de-
MED any desire to limit the debate on the
silver question, but he insisted that the
Senate should observe due order in its pro-
ceedngs. The Senate had other important
business on hand and the question was
whether &c should all be laid aside to take up
this question. Referring to Mr.. Morgan's
closing regnarks that he would not do away
with the act of 1890 Mr.. Sherman said he
believed, after all, that the law of 1890,
although misconceIved by the gold men aud
by the silver men, may be made the basis OF
a firm financial structure which will give
us money equal in purchasing power, not
only in every part Of the United States. but
in every part Of the habitable globe.
Mr. Stewart nuoted from Secretary Fos-