The state chronicle. [volume] (Raleigh, N.C.) 1891-1893, 1892-06-02
CONGRESSIONAL.
THE SILVER BILL AGAIN Dis
CISSEDIN THE SENATE.
Thc PoSt-Oficc Appropriation bill
sill Claims the Attention of
the House.


the House.
~ Telegraph to tic STATE Chronicle.
WASHINGTON, June IL Senate. y
At the opening of the Senate General
Eppa IIunton, the appointed Senator
from Virginia to succeed the late Sen
ator Barbour, was sworn in. Mr..
IIunton was escorted to his desk by his
colleague, Mr.. Daniel. He took the
seat to the extreme right of the chair
formerly occupied by Mr.. Mills, of
Texas, who has moved into the seat
of the late Mr.. Barbour. Mr.. Hun
toms desk was covered with flowers.
The sundry civil bill came over from
the House and was sent to the COM
mittce on appropriations. Mr.. Hale,
from that commistee, reported back
the diplomatic and consular appropria
ton bill with numerous Senate amend
mcnts and gave notice that he would
probably call it up tomorrow.
At 2 O'Clock Mr.. Sherman resumed
his speech on the silver question.
Apolorizing to the Senate for the
length of time he had occupied, he at
tributed this to the numerous inter-
ruptions, and announced his intention
not to yield to any Interruptions to-
day. He said there was a law OF finance
asimmutable as the ten commandments,
Il. . fxuyn
metals in circulation the cheaper metal
would always displace the better metal.
lie referred to the depreciation of the
silver rupee in India and said here
was country which, for untold
ages, had been dealing with silver and
yet was afflicted with the same decline
Of prices and was threatening to resort
to the same standard as prevailed in
Europe and in the United States-the
gold standard.
The people did not want cheap
money; they wanted more money and
plenty of it, but the two ideas had
been blended together and used to sup
port the free coinage of silver. Mr.
sherman continued: 81 do think
there ought to be some change in oul
financial laws. Among them and frs
Of all we ought to do what our ances
tors have done and what every natior
has done, that is, to establish a new
ratio between silver and gold, not t,
make them exactly equal because tina
was impossible; but they ought to b,
so.near together that they would, in ths
main, stand in that ratio. The rati,
OF 10 to | is no more scared that tn
ratio l6 to l. which was changed il
general Jackson's time. There i
unquestionably feeling in this coun
try of ours that the currency is to
diverse. While we here may under
stand it and may be able to explain
it, it is not so with other nations, an
there is a feeling among the peopl
that our currency should be simplifeC
They want more money, large money
they want an increased volume {
money. This may be somewhat diff
cult 10 do. As to the amount of cul
rcncy, my own opinion is that th
amount now outstanding will be abOu
sufficient. 1t does not follow that
there is more money in circulatio
That the poor and needy will get i
We cannot distribute it per capt.
to the poor and leave out til
rlch. Now / believe the1
Is wisdom and good sense enough
the Congress of the United States
deal with this question and to estaI
Ilsh ratio based upon the populatio
OF our country which conservati,
men will think safe, and to remodel al
relnact all our varied systems
finance. We have gold and silv,
enough for the basis of two thirds
our circulation. Then probably II
other third might be issued on Il
ialth OF the government. Such a sy
ten might fairly be adopted by prude
men. This scheme of free coinae
has all the elements of weakness, al
! will almost say of reputation. III
ls not the time 10 deal wi
lhance in the midst of pre-
dental campaign while men a
s'hcmlng for position. We cam
nave very wise legislation at such
tme. have no doubt the defeat
MF' Cleveland was very largely d
10 The stand he felt bound to take
'ae 'arlti. This question of fnan
ought not to be dealt with by pol
elans' 1t ought to be guarded a
carefully considered by the very wis
men IN the United States. Believi
'ne attempt to bring this great a
powerful nation of ours to the stand;
y silver coin alone is bad prcje
wrong IN principle and wrong In
''h' Injurious to our credit, a men;
y our financial integrity, and a r
Oery OF the working MAJ and of
penS'oher' ! regard this mt
GIe IN every aspect as frie
A. "'oh 10 be resisted and oppose
AZ the close of Dir. Sherma
IpLVea' Is1o1a Mr.. Aldrich (rep.) of R
,Siahd, suggested that as manv Sc
TORS We're L.. ~