Los Angeles herald., 1892-03-24

the idea that the economic and financial
system of his days needed tinkering
with. [Laughter.l In those days the
currency OF Virginia was tobacco. in
hogsheads of 400 pounds. Laughter
The inconvenience of carrying around
legal tender of the day naturally aroused
a desire to devise a more convenlentsys-
tenn of currency. This desire took shape
in the Bland bill OF 174S. Laughter.
This bill was almost counterpart
of the bill of today. 1t provided for
the establishment of government ware
houses and the appointment of govern
ment inspectors in charge. The Bland
bill of today provided for the use OF
mints already erected. The bill of 174S
provided for the deposit of any amount
OF tobacco by any person and the issue
of tobacco notes therefor, to be accepted
as legal tender receivable for the debts
and dues of the government. The bill
OF today provides for the deposit OF ell
yer bullion, whether owned by inhab-
itants of England, Africa or America.
and the issue therefor of notes as legal
tender, recei gable for the debts and dues
ofsthe government. Laughter This
bill was not bill for the free and un-
limited coinage of silver, but bill for
the unlimited purchase of silver bullion.
There were nine bills before the COM
mittee that did provide for free coinage,
but they were all laid aside for this bill
The effect OF this bill, repeating the act
act of 1878.
docs the gentleman take the posi-
tion," inquired Bland, "that the repeal
OF the act OF July, 1890, would revive
the force of the previous act thereby re-
pealed?"
eyes"
"That position is contrary to all the
principles of law l ever heard Of" said
Bland. "The act of 1890 repeals por-
tion of the act of 1873. Now this bill
in repeating the act of 1890, does not
restore the act Of 1873 at ALL"
Stone persisted that Bland was wrong;
that the passing of the pending bill
would be to revive the act of 1873, pro-
viding merely for the compulsory coin
age of $4,000, 900 per month.
At the conclusion of Stones remarks,
Bland asked consent that the debate,
which would expire tomorrow night, be
extended until Friday afternoon at 5
O'Clock.
Simpson of Kansas objected on the
ground OF the failure of the friends of
the bill to make an allotment of time to
the representatives of the Peoples
party.
Warner (Democrat) of New York, and
Bramley Democrat) of South Carolina,
then spoke in opposition to the bill.
Lynch of Wisconsin, Stout OF Mich
igan and Fitch of New York also earn
estly opposed the bill.
McKeighan of Nebraska said before
entering upon the discussion of the bill.
he wished to discuss the minority re-
port, which had about it the perfume OF
banking house. The report was be-
gotten OF ayarice and its fruition was
the spoliation of industry. The cry
about seventy-cent dollar was de-
liberate attempt to blunt the public
conscience. The standard silver dollar
of 100 cents and the claptrap about a
seventy cent dollar was simply an as.
sault on the dictionary. Free coin
age would wipe out the dis
parity between the coin and bullion
value of dollar and a silver dollar the
world over would be of the same value
as the metal in it. What the value of
dollar may be as expressed in gold may
be another question. Competent stu
| uouto luslbtcu Ihat ~ woulu ieoeoiC tHC
old ratio between gold and silver bull
lion. The gentleman from Ohio
| (Harter) had sent out notices to the
Grand Army posts, asking them to pro-
test against the passage Of the bill. He
| (Mckeighan) had been all old
soldier, and he could not
forget that he had enlisted
when gold and silver were the only
| LEGAL tender rurrp0cy He hAd received
| deprecated paper, and never heard a
the banking interests OF the country.
This duplicity did not fool the old
soldiers. The people that he (Mc-
lists they were not opposed to the ac-
that wealth distribution, if permitted
proportionate to the skill, economy
be blind that did not gee that wealth
was becoming great political power in
this country. The people were organ
tion until corporations and monopolies
bow in obedience to just laws.
Bushnell of Wisconsin spoke in favor
that hereafter silver dollar contain one
ounce Troy OF pure silver.
Alter speech by Perkins Of Iowa in
opposition to the bill the house took
recess until evening.
The SearIss Settlement.
New YORK, March 23.-The statement
is made that the reason for the Searles-
HoDkins settlement ia fOund in the fact