The times. [volume] (Richmond, Va.) 1890-1903, 1892-07-12
LONG TALK ON OPTIONS.
MR. wssHBURy MAKES 4 SPEECH
In Favor of the Hatch Biii-Shaii the Worlds
Fair BE Closed on sunday ?-Washing-
ton News and Gen eral.

inatOr and bright particular champion OF tne
measure. and who. it may be well to say, will
should the bill become law. be one Of the
small clique 10 reap the greatest advantage
from It. the Anti-Opton bill was called up
in the Senate today. Senator Washburn
brought his speech with him. and laying 1t
carefully on his desk, undid its wrappings
and scanned the first few pages to get 1t well
in mind. il was a very long one. filling
one hundred large typewritten pages. and
t0ok an hour and half to deliver It. tie
was yisibsy nervous as will be any man IN his
right mind who intends 70 address the
Senate of the nited States as the defender
Of measure destined as be we'll knows. 10
work great injury upon the commercial IN,
terests Of the country. frespiration roned
down his face before he rose and his hand
kerchief soon became wrlnging wet from fre-
Quent moppings. lie looked as If no would
have liked 20 back out. but the kice-Presi-
don't recognized him and he was compelled
30 goon.
There was a large proportion OF the sena-
tors present. They had heard PETER; Kyle
aud others of their lk spout their Wild here
sizes and they were evidently anxious to hear
what this. the latest addition TO the advocacy
OF crenkism. had TO say.
MUCH TINE CONSUMED.
Senator Washburn. though his speech
/ consumed large amount OF time. dld not
| bring to light single fact not laid before the
| Hatch committee last winter The almost
only effect Of the speech was TO prevent the
consideration Of the Worlds Fair until late Ia
! the day. much TO the disgust of the Senate.
! The Senator became very tlresome, tnough ne
! tried 70 enliYen his remarks by two descrlp-
/ .ions Of his trips abroad, but even tnat ana
! his attrIbuting pretty nearly All tne
crimes of the calendar 70 the optlon
/ dealing failed 10 arouse the utterly tagged
/ interest. And when he declared that miilon-
/ aires without exception seldom earned tner
/ wealth. his felow-millionaires IN the chamoer
looked at one another and pltylngiy SHOOK
/ their heads. There was one senatorwho stuck
/ % him. however From first TO last he listened
| o. him and was apparently deeply interested.
! lt was no Of the whiskers from Kansas. Inc
/ bill will remain on the calendar until called
up by unanimous consent or majority VOte'
THE SILVER BILL.
Colonel TAYLOR. of Illinois. predicts that
! there will be - large amount OF nilousteIlnB
against the Silver bill OH Wednesday. Ihey
| dld not expect NJ first 10 hllbustsT ne shlu
/ this afternoon "but the anti-siiyer Democrats
| don't know lust how Republicans Intend 10
vote. must confess l don't know myself.
| The last time, you know, we were not united
aud there now exists difference OF opinion
ss 70 the best way to receive the bill. Inc
majority Of US will vote against the Dlll,
though some. believing 1t better that the
| Democratic House should pass II. lnasWuch
MS the Republican Senate did SO, will vote Tor
| DC. Just how many we can say because
| many have changed their minds since oatui-
| 3av. IL is because Of the uncertainty OF our
stand that | believe the Democrats Will I'LL
buster and will fight the bill inch by inch.
The Senate.
Mr.. PETER (Farmers' Alliance Kan offered
ioint resolution, to lie on the table, limiting
| he term of office OF the PRESIDENT Oh ehe
nited States 10 one term.
| Mr. QUAY rep. Pa. presented 70 the
Senate IN order that it might be printed IN
the Record. the statement OF the employees at
Mr. Butler Dem. s. c. having obtsined
the floor on the bill transferring the revenue
! marine from the Treasury Department 10 the
Navv Oenartment. he asked UNANIMOUS con-
sent To Law il aside temporarily In order tnat
| be p,ight Weld the floor 70 the Senator from
Minnesota Mr.. Washburn) TO address the
Senate on the Anti-Option bill
Nir. Cockrel Dem, Mo-. however Cd
| iected and parliamentary tahgie arose ~.
! Allison wishing the Senate to 90 on with the
consideration OF the Sundry Cyil phl from
| the poipt where the discussion ceased on
MIR Butler with some feeling, declared
| that Mr.. Cockrell must take the consequences
OF his objection II: thereby. appropriation
| bills were obstructed. lie cOnlu LOT cOnsgns cS's.e
IN the displacement OF the Revenue Marine
| bin but was perfectly willing 1t should De
lad aside informally by unanimous consent
Mr. Cockrell being appealed 70 by MI.
| Chaudlerand Mr. Harris Dem, Tenn hnAly
eonsented 10 withdraw his objection until
clock.
IN FAVOR OF TIE ASII-oPTIoS Bill.
Mr.. Washburn thereupon addressed the
Senate on the Ant-Opuon 9lll. lie sstu tu'
bin now sent over from the House ol hepie-
sentatlyes known as the hatch Dill was suo- D.
stsntiailv tba same as tue bill introduced IN
the senate by himself IL was not designed
| 10 interfere with Legitimate trade. but Simply
| 10 n-event gambling in food or agrlcultuIhi
! products. The gamblers had lost no oppor-
tunity Of creating false impressions AS ~ VI tIo
| purpose of the bill IN order 70 enLsI 'Ho Dal n
ers and the merchants on 'helr sluo ~ s''o 80
| spectabilty to their prolesls. II wac ~"as
| not the purpose OF tue blll 10 interfere
with the bargain or purchase Of any properly
where the party WAS the owner or lad con
tract to acquire possession oI the same ~ ~
| did not seek in any way 10 interfere WIZ
/ legitimate commerce, OUT ~ MSS 49,.
against that gigantic modern innovation
| kowp as dealing in futures system under
which. bv Misrepresentation and tricks OF
/ trade and fraud il was possible 70 juSsle
| values. and practically 10 eliminate iron tne
commercial world the laws OF supply ana ue-
/ mand, the most perulclOu5 ~ lstolh bher -
and skill of man had ever been able 70 de,
wise. The system OF selling short was oi
comparatively modern date. IL Originated
twenty-five years ago In the city OF Mil.
waukee. IL had now reached such pom.
as 10 oyershadow all other transactions. ana
| At least 20 per cent. of the transactions oi
boards Of trade were Of this character, where
neither buyer nor seller had any Intention 9t
delivering the products thus bought ana SOLO.
/ Next 10 wheat, cotton, lie believed, had sui
fered most severely by the operations OF tne
market wreckers He read letter from D;
| W. Hampton, an experienced cotton deaieI ol
! Memphis. Tenn in which 1t was stateu lhAI
| dealing in futures had demorallzed the mar
kot 10 that extent that cotton factor uld nOI
/ know how far he could safely make advances
10 the planter. During the present season
there had ueen a shrinkage OF 53 per cent. pe-
tween October and April IN the value OF cot
ton. and tbree-fourths Of the decline. ne De
heyed was chargeable to dealings IN futures.
MIR Washburn asserted that the great MIL
| lionaires Of the country. almost without rA-
ception. had not created or earned lhelt
wealth. Stock and grain gambling market
wreeking. railroad wrecking and al the ne
farious methods brought into play during the
! past twenty-five years, bad produces 'ueSV 20
enormous and unwholesome aecre''on' VI
wealth.
WORLDS TA1a AND THE SABBATH.
At the close of Nlr. Washburn's speech III inc
Sundry Civil bill was again taken up. IL.
pending Question was Mr.. Quay's amendment
10 close the Worlds Fair on sunday. -
Mr.. Manderson (Rep., Neb.) Criticized tno