The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1892-06-03
CONGRESS-.
The Senate Adiourns Until
Monday.
The Reciprocity Correspondence Called for
Stewart Speaks on the silver Bill
House Proceedings.
SENATE.

WASHINGTON, June 2.-On motion Of AL
lison the Senate agreed to adjourn from
today till Monday. Notice was given by
Vest of his intention to address the Senate
then on the wool tariff; by Morgan of his
intention to speak on the free coinage of
silver Tuesday.
Turpie's resolution calling for the cor
respondence with Hayti. Columbia and
Venezuela, regarding reciprocity, was
adopted. Turpie addressed the Senate
upon the resolution and said there was 6
struggle between two statesmen as 10
which of the twain were entitled to the
honor of having devised the scheme of re-
ciprocity. 1t was found, however, that
neither of those prominent statesmen
could lay the slightest claim as the origin
| ator of the policy. Reciprocity treaties dated
back to hob, when what is known as. the
methuen treaty was ente-e into between
Great Britain and~P Portugal. But under
the so-called reciprocity treaties with
South America the secretary of state sub
stltuted his own power for that of con-
gress and declared the purpose of re-
ciprocity not commercial but wholly po-
litical.
The Senate bill which provides for the
holding of terms of courts in the district of
Montana was taken from the calendar and
passed: Also the Senate bills creating two
additional land districts in Montana and to
amend the statute relating to appeals to
the supreme court.
Stewart then resumed his argument in
support of the Dill for the free coinage of
gold and silver. He expressed surprise at
the chairman's statement that he was in
favor of the BlandAllison bill. Sherman
he said, criticized the bill while he was sec
Rotary Of the treasury and urged its repeal
Sherman predicted the Bland act would
bring the country to silver standard, and
Stewart declared the law of 1890 would
inevitably bring the country to paper
standard or 10 the market value and
standard value OF silver, because it was
going to be impossible to maintain gold
payments under the law. Every weekly
statement Of the treasury showed that the
percentage OF gold coming out was growing
less and less, until it now was only IA per
cent of the aggregate receipts.
In response to a query by Higgins, if he
preferred silver basis, Stewart said he
preferred anything rather than the en-
slavement of the people by an attempt TO
reduce the whole world to the narrow basis
of gold. II would reverse the policy Of
the administration which reversed the law
II is the duty of the secretary of the
treasury to redeem the paper of the gov
ernment in the currency which was the
most convenient. / say the present policy
under the existing law will reduce US not
only to silver basis but to basis of the
commercial price of silver, because it is
impossible to maintain on the present
volume Of gold the existing credit of the
| fabric world"
In the course of his argument he ridi-
culed Sherman's expression of sympathy
FOR the working classes, and for pen
sions.
sympathy" he exclaimed. there is
not blood enough in all the gold trust men
for one mosquito
At the close of Stewards speech, the
silver bill went over without action.
A resolution was reported from the
finance committee for the appointment of
committee of five to inquire whether the
law in relation to banks furnishes sulfi Gent
protection to depositors and to other
creditors, and to Investigate recent fail
ures of banks and other violation OF the
law. Agreed to. and Chandler, Higgins,
Pfeffer, Havis and Mcpherson appointed.
After an executive session adjourned
till Monday.