New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-06-17
SENATOR MORRILL, SPEAKS.
ANOTHER STRONG UTTERANCE ON THE
FREE-COINAGE DANGER.
THE VENERABLE sTATEsMANs LUCID AND FOR
CHILE ARGUMENT SENATOR STEW
ART REPLIES
rBY TELEGRAPH TO TIE TRrBUsE.

rBY TELEGRAPH TO TIE TRIBUSEl
Washington, June l6-In the Senate to-day the
venerable Mr.. Morrill, contributed TO the discussion OF
the silver question a speech which was repete win
facts and information and which was delivered with
degree Of force and animation which botoheheu ho
Impairment Of either the mental physical powers OF
the venerable statesman who In his eighty-'hiN Seir
and thirty eighth year OF continuous uninterrupted
service in Congress- commands the admiration ana al
lection Of his cOuntymen. During all inc years ''a'
have PASSED since he first took his seat In the House
Of Representatives on the first Monday In December
1855 and aided in the election OF the hrst Kepuoah
Speaker who ever presided over that Dooy' Nr
Morrilrs career has been one Of patriotic unseihsh
devotion to his Country. No measure which, IN HIS
Judgment would leave stain upon the Nauona
honor has ever received his support and his lucid and
forcibe argument Of to-day. backed and enfoFced as
II was by the personal observation and experience Oh
nearly forty years In National legislation, was cacu
lated to produce q deep impression.
The force Of his logic was not weakened nor 'i'c
sincerity of his expressed convictions clouded by
spspcion I'm the mind Of anybody that he was inspired
BY other than the highest and most unsehish anu
patriotic motives. lie appeared TO much better ad
vantage than did Senator Stewart, who followed mh al
though no man can fairly question the earnestness ana
sincerity OF the Nevada senator.
Mr. Morrill, asked and obtained indefinite leave OF
absence from Tuesday next; and then PROCEEDED 10
address the Senate in opposition TO the bill to pro-
vide for the free coinage Of gold and silver.
He began his remarks by promising that he
would dull the ears of the Senate as htlo as pos
sible with what Shakespeare called "dainnaOlc Hc'0
ton. Mr.. Morgan's freecolnage resolution hau eNi'
IDENTIFY he said been pushed by That senator "i,h
some comic hopcfuness that the Senatorial Democratic
candidates for the Presidency would remain in the
chamber 10 have their votes counted, and not seek
nv fight outside into the bombproof smoking room 70
escape from all HARM But the skilled narRsnah rom
Alabama had not winged single Presidenuni oi'u'
No friend Of sound money had cause TO be appreher
svc about the most extended discussion or apou' c
FINAL result.
When he was told by men. sane upon all other
subjects that the United States alone cou@d saieF
assume its present impaired digestive
ORGANS. the risk OF unlimited silver coinage OF the
bullion OF all mankind ne was foired TO admit as mum
as he was wont to admire glitternS fourth OF Jul!
1aunty 1ingoism that he believed the Uni'cd STATES
would suffer an inglorlous sure and 1t would turn o"t
that We had only been used, Ike INC
cat in the fable, to pull the chestnuts out
Of the fire, merely to save the paws OF monkeys
abroad from being burned. while deprecated silver
here would still be deprecated silver. 1t had been
supposed that there was one point upon Wihch III
Senator's were agreed-the necessity Of an international
bmetallic agreement-and he confessed tha' was MS
strongest hope OF delverance from monOmetainsm
But now the conspicuous leader OF free coinage from
Nevada Nir Sewart) had disclosed the fact that such
an agreement was no longer TO be sought after, or
even tolerated but 70 be dismissed with contumely
The rabbs Of the recent pro-silver convention AZ
Washington did not want II; and this showed coi
clusively that the design was TO thrust upon inc
country ut once II possible, the silver standard OF
all legal tender money
There never had been tune moro auspiclo"s i'i
tho solution Of the silver problem than the present
All the leading European nations had accepted Ne
Invitation for an international monetary conference
With President beyond all question earnestly IN favor
OF bi-metasm. there was ample guarantee that per-
cons would be selected on part Of The United states
10 conduct the international agreement with eiiclecy
and with fidelity to every interest OF the country
And vel If free coinage OF silver 90 be established
here precedent TO any international agreement ude
WINS not a single nation In Europe that wou'd give
.be subject further consideration. They would all
gladly leave TO The United states and India the pos
s,,ssson of the great white elephant When Inc
no,s,sans OF free coinage Of silver talked about D
n,so,,,s,n they meant good-by TO all bnt Sill
yer. All else would have to get ont OF
the way The contention that the United States couh
add so per cent to the value of silver throughout inc
,ord hv the free coinage Of silver dollars containing
p-1 Id grains OF pure silver, to the full extent OF
whatever silver bullion may be attracted to the 'htc'
ct.,es minis or be presented from all quarters OF inc
uord 10 be coined and held forever lmpiisoned IN inc
tomb OF the United States Treasury, ana hcro "
sustain a Iegal-tender paper circulation win inc iu
va,ne OF any Other dollar, was feat OF hardy le1
extravaganza than woud he patent project 10 war"
..a moon nv setting fire woodpile on Pike> fehh
Tho Government now purchased silver and paid Tor
n oil that IL was worth; but the silver cOrporauons
Insisted that 1t should be purchased In Wholly u"'
limited amounts and at a price fixed by Ia" oo per
cent above what any other purchaser WOMB o"e''
Uc meant that BY free coinage OF silver the o"Ic'S
NJ silver bullion would receive dollar for th' VINO"
couId now be bought ut CO cents Never III A'n'i.o'
history had loanablc money been cheaper than 10 d'y
rloipf
-.s map,festlv unfounded The business OF the
country wouh not be increased BIZ increasing uie
nlethora OF mOney-especially OF dcprecatcu "'o"0'
TINT would require SO to cover the present power VI
90 The bane Of all copmeTcc, as well as vi d"
domestic business, was an nnsound' Vaclhaus anu w
precIated currency. The unsoundness OF inc 'r",S
fc,ahe mortgage bonds authorized 10 u
- with tbc puar.,ntce OF the Argentine Re
,,huc was the primary cause OF the failure OF inc
ereat banking house Of the Barings In LONDON "i'
nr,yed 10 be financial thunderboi "hcaiu io''''u
The worldn And Just now came another Ds o'a"
IN London that OF the New Oriental Bank iA"ie iOi
so6 ooo OOO due TO the depreciation OF silver anu Ie
Increasing distrIist OF investments In SILVER cou''
md the withdrawal OF capital therefrom.
r,., d,stv,st he regretted 10 say, had already
o.cbed the Tinted States. The attempt to HI anu
hu,ld I'D the value OF silver by free coinage anu '
lv the United states alone, excited the uh'"Ao""
q uot the dcrison OF all Europe. The la'ituui''
uronos.iOn to open the United states hhha I" "
the silver offered al The price OFFS fof 81 -
when a dollar should purchase IN any mdiho'
grains with the sense OF security tut u" p'''
o,f.,. that might have prevailed fifty years ago. vi
nu,r 10 sldvcr depreciation, was now imposHio'e' :"
acom,nt OF the Unforeseen and universal aec"'c III
~ value Of Silver arising from It's recent Do'iu'o
Increased production. ~ In
This pivotal fact WAS not proclaimed eve" -
whispers, by the happy -go-lucky silver o'''o'' .%
=. ny,nof Of he reckless character Oh tnc
proposition. .,....,o. s,yc that
,rhere was no remedy for overproduction save 'H''
y, a largely increased consumption, and thnt uh-
fortunately. was nowhere yet in sight. IL there "ec
eny pro silver who would not favor 30 per oc'.
hoa,ootol reduction OF the tariff, whether because "
H. 10 10, az O