The times. [volume] (Richmond, Va.) 1890-1903, 1892-03-23
SILVER DEBATE BEGUN.
uucu INTEREST IS MANIFESTED.
speeches by Messrs. Bland, Hartcr. Taylor
and Others for and Against the Meas
ure Washington News.

their interest by crowding the galleries at a
very early hour. The executive and diplo-
matte galleries contained several officials and
foreign diplomats. the FIRST occupants Of the
galleries this season since the opening days
of Congress. On the floor the attendance at
~ o'clock was not noticeably larger than on
ordinary occasions. An hour later. however.
the seats were well filed and close attention
was paid 20 the remarks of Mr. Bland, who
opened the debate Mr.. Bland arose TO
sneak when Mr.. Tracy. of New ork. made a
ront of order Immediately after the bill was
read that under the rules II should De con-
sidered in Committee of the Whole.
The Speaker said he mad examined TINS
matter when the bill was reported ana II was
referred as he thought proper, TO the house
calendar. An examination OF ms express
question was raised in tho tiiueth Congress:
Mr. Dineley. of Maine. stated that the bili
then did not have provision tor the coinage
of notes go,
The Speaker said that as he understood the
Jaw there was no special Appropriation m@'e
by this bill.
Mr Dingley said there was a charge de-
volved on the Treasury that treasury notes
should be prepared and exchanged LOT 'no
purchase of silver coin.
The Speaker said he was not 50 informed
and Oyerrued the point of order raised by
Mr. Tracy.
Unanimous consent was asked and obtained
for gentlemen 10 extend their remarks IN the
Record.
II was also agreed after some discussion.
that the House should take recess at
O'Clock to-day and tomorrow until E3O L.
NJ and adjourn at 1880.
Mr. Taylor. of Illinois. in charge Of the
ant-silver Republican side, inquired what
arrangement had been made as TO time
Mr. Bland replied that the opponents ana
the friends of the measure would divide the
time equally.
Mr. Watson. of Georgia, thought there
should be some division. He hoped the gem
tleman from Missouri would not think the
party he Mr. Watson represented was trying
70 block the Silver bill. they wanted TO help
pass IT, They stood as one independent
party.
Mr. BLAND's SPEECH.
Mr.. Bland (tartly): We are all inde-
pendent on this question. Applause and
cries of regular Order."l Without further
INTERRUPTION Mr.. Bland was recognized and
proceeded with hls speech.
He said the bill proposed to 90 back one
hundred wears. On April 2. 1892 the toun-
ders Of the Government, IN pursuance OF the
Constitution. on the recommendation OF
Hamilton, jefferson and the statesmen OF
that time adopted the double standard. The
act then reported favored the coinage without
limit of gold and silver IN the mnts OF the
United States silver % be coined into dol
lars. OlINeS. quarters. Qlllt- duQ uhlL hllub9s
the dollar 10 consist of 371l4 grains Of sill
yer precisely the dollar in silver which IS
called for IN this bill. There was nOthlng
IN this measure. That system OF
money was continued in this country until
January. 1873. when the dollar previously es-
tablished was discontinued. The present
Ill proposed that gold and silver should be
iu the ratio of sixteen TO one. II was 10 the
advantage of all that gold and silver. as lar as
could be- should have equality. In order that
cho preserved
necessary that silver should be put upon the
same plane with regard 70 issuing certificates
as gold. The holder of the bullion was not
required 10 wait lie received legal
tender money or gold certificates from
tie Treasury upon the presentation OF
bullion The act provided that holders OF
cold and silver bullion should have rgnt 10
deposit their bullion at the mint, and the
mint could pay for II on the spot The bull
ion was deposited and the money turned over
A. the depositor for gold and silver under the
act of 1887. Just as required by this bill. The
law did not specifg that the bullion should be
coined at any particular time. This was left
discretionary to meet the exigencles OF the
Government, but IN reality IL was coined l0r
themost part and the resulting coin Kept on de-
posit to paw for the bullion as deposited. There
Was nothing new ia this bill IN that regard.
Gold and SILVER bullion could be deposited IN
mints and ASSAY Offices and coin certificates
issued Tor their value.
TIE WHOLE IN A NlI SHELL
These coin certificates were made legal
tender for all customs duties and IN payment
of public debt. We simply by this bill. put
silver on an equality with gold; nothing
more. nothing less. There was a greater ne
cessity for silver % have this right than gold
Ii is said that we do not need any more money
ip circulation. and that gold Is sufficient to
supply the channels oil circulation of a metallic
money. 10 is also claimed that gold alone is a
sufficient basis fOr money. and that under a
system of credits, bills o. exchange, prOmls-
sory notes. book accounts Offsets that we
could get along on the goid basis; that thls
.vstem answers the purposes Of money and -
treated as money by the gentlemen
who oppose this bill. To certain ex-
tent these devices economic money and might
POSTPONE It's payment There was more money
Ira circulation in France than IN England or
the United States. There was no necessity in
France for these devices, which were neces-
sarv in England and the United States under
tbe pold standard Credit money, as 1t was IN
derstOOd many years ago, gave rise 10 this the
crv No man III his sober senses would sav
that the amount OF transactions adjusted IN
fheclearinp- house were part Of our circulating
medium Book debts and transfers of ac-
counts throughout the whole community
would answer the same purpose. lhe revenue
system of credits TO a certain extent economies
tie use of money and IL did probably sustain
theorists for the time being. In 1871. when the
ie,islation was pending IN this House. q bill
Was Dassed for the retunding OF the national
debt. the national banking institutions sur
rendered about eighteen million dollars oi
leoal tender money TO the Treasury as O
threat against Congress, and threat made
for tho purpose of inducing veto from
the President. and they succeeded
a withdrawal of slSOO0OOO in about sA
weeks made the interest in New YORK CITY
centa day Money was scarce all over the
country which was threatened with pane
The clearing house IN New lork. WIN lts
principles of issuing checks might cancel
million or five million tomorrow ana noDouS
know il. lis not money, 1t IS SIMPLY con
yenience by which debts are paid III thi'
clearing house and banking associations say
Their balances are 50 much. No one pays any
attention 10 il, aud it has no effect on prise;
compared with actual circulation aud actual
money.
lie quoted Cernuschi as saying that France
made a great mistake when she limited tht
coinage of silver or took any notice Of demon
citation by Germany
GOLD AND SILVER TWINS.
The opponents of this bill were courtins
that very danger. The exigencies have re
suited in our demanding the repeal of The