The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1892-01-07

.aa, coinage would interdct al in
Sensational silver compacts; that there
tior. no ,ha, scarcity OF money in circula-
mat the silver standard would be
eqalvaent to horizontal reduction of the tariff
~ ~ - per Gent, II not more and an equal reduc-
ro1i, u a.. penslons that the parties to first
pxne-s ~ tfH -, coinage would be the corporate
6mapIllFe oi sllFer mines only, aud the parties to
niuaIi! suiler the largest losses by il would be
.n .ne sIeat mass OF our Yeogle, into whose hands
Sasiip aee.aeea COIN and treasury notes would
ua..i st pass We have paid OF more than three
~ dourtns OF our great debt in gold, when our re-
sources were far less than now and am uu-
go Is 10 iof'elt our well-earned reputation
@ aiiu Loae puoilc confidence aud al the ancestral
pres.lge OF our history by paying the sorry rem
value. -
AZ the c.ose OF the speech, which occupied
ABOUT an hour and hall in its delivery, Teller
tooA lhe Moor and called attention to the fact
that the senator from Vermont, as well as the
president OF the United States in his
annual message, treated the silver bill
OF July. 1890, rs the work of the bi-netalists in
congress lie (Teller) denied that assertion
lhe bill, he said, was the product OF a person
known TO De for many years badly hostile TO BIZ
mechanism. de did not intend TO quarrel with
the act OF 1880, but he intended to show that it
was not silver act, but that it was money
act and as such it received the approval of los
senators who had voted for free coinage, and re-
ceiVed the condemnation of twenty-five sena-
tors VINO had not voted for Tree coinage
Alter quoting a sentence from the presidents
message 20 the effect that the bill had been ex-
pectea 10 oring the price OF silver up to 81. %
FER ounce, Teller challenged the executive for
proof OF that statement, and asserted that oniy
one senator, alluding to Jones of Nevada had
Ihtimated that the act of 1890 would bring silver
up 10 par On the other nand, more than
twenty senators had asserted that it would
bring 1t to par. If disaster came, as il would
come, II that policy was persisted in, it would
h. lai Hof fha 1f
fifteen years had steadily resisted a general pub
with gold
But there was another proposition coming
from the executive. What was it? Ii was that
the United States should accumulate all the
gold OF the world. and the money centers of
Europe would say that the United States,
having gotten all the gold, they would Join the
united States in the work OF using silver
Coming as it did from the executive of the
nation, he fFelleI) was bound to speak of it
with respect, whatever he might think or feel.
HOW was the United States TO accumulate the
gold OF the world? Why, even when this
country had an abundance OF crops and was en-
Joylng great prosperity, gold left the country at
the rate of sl,0e0,000 day. The United States
was debtor nation, owing to Europe more than
S2,0 o0J0,0OO How was the United States to get
Europe to unload her Golfers and send gold
here?
Teller referred to the feet of the president
having sent New York banker (Seigman) to
Berlin in connection with the silver question,
duty appointment silver man. He (1eller) could
name twenty men in public life who could have
gone To Europe and made 8 report that would
nave been OF value. but no such report would be
got from the bankers or mono -metallists He
entered protest against the declaration OF the
executive and the senator from Vermont that
the silver men were responsible for the legisia-
tlon OF 1880. Every American statesman ought
to direct attention, said Teller, 10 see how the
metals could be tied together so that they could
not be parted. That could not be done by hav-
ing silver put down to 50 cents an ounce nor
could it be done by accumulating gold from
Europe. 1t could only be done by taking
heroic step and passing a free coinage bill, in
the hope that il would bring the world to the
American policy or else lead to an international
agreement.
Dolph sent to the clerks desk and had read an
extract from a speech of Stewart to the effect
that the purchase by the government of 4,5O0,-
600 ounces OF silver per month would use all the
silver produced in the United States and put up
the price of silver to par.
Stewart admitted that this prophecy had
failed, but pleaded that the condition had been
changed and that it had been proven that moth.
ing would do but free coinage. No action was
taken on the bill, and after a short executive
session, the Senate, out OF respect to the mem
ory of Representative Gamble, adjourned.
Nominatic.Is: Walter Wyman, of Missouri,
supervising surgeon of the marine hospital SER
vice; Duncan A. MeBeath, postmaster at sno-
homish. Wash.
Combinations: Interstate commerce COM
missioners-James ". McDill, of Iowa; william
r. Morrison, of Illinois, and William NJ. Lind
sey, of Kentucky. E. G. Rathbone, of Ohio,
fourth assistant postmaster general d. A. Nc
Beath, postmaster at Snohomsn.