The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-10-25


there ought to be quorum present. as he
had many important things to say. The
roll call was answered by forty-six Sela-
tors. three more than quorum, but pc
fore Mr.. Stewart resumed the floor mo
ton was made by MIR. Kyle that when the
Senate adjourned to-day it adjourn till to-
Mr.. Voorhees, hoped that the motion
would not prevail, and was informed by the
Vice President that the motion was not open
to debate. Mr.. Teller called for the yeas
and nays. The call resulted: Yeas, ); nays,
36. There was no quorum voting, several
Senator's present withheld their votes. The
roll was again called, and forty-eight Sena-
tors responded. Then the question was
again taken on Mr.. Kyle's motion. and it
On motion of Mr.. Bate the bill to author
lie the Chattanooga Western Railway Com
pany to construct bridge across the Ten
nessee river, near Chattanooga, was taken
from the calendar and passed.
Mr.. Stewart then went on with his speech.
MIR. JONES SPEAKS AGAIN.
At 20 Mr.. Stewart, without finishing his
speech, yielded the floor to his colleague,
Mr.. Jones. of Nevada, who resumed his
speech where he had left off yesterday. In
the course Of his remarks dialogue was
carried on between Mr.. Jones and Mr. Nc
Pherson as to the causes Of the recent
depression in business. Mr.. Mcpherson con-
tended that one of the chief causes was the
fear of the effect of free coinage of silver,
and Mr.. Jones repealed the suggestion and
reminded the New Jersey Senator that there
had been no talk of the free coinage Of sill
yer three or four months ago, when the
panic began. The existence of the silver
purchase act, Mr.. Mcpherson contended,
had the same effect as free coinage, because
If that act continued In force long enough
the result would be that the value of that
kind OF money which was not par with
good money was going to upset values. He
drew no distinction, he said, between free
coinage and the Sherman act, except as to
quantity The Sherman law would bring
the country to a silver basis some time If
not rapidly free coinage.
Mr.. Jones replied by showing that the in
crease of circulation through the operation
of the Sherman act had not been sufficient
to keep up the range Of prices He had the
assurance of the Senator's colleague CMr.
Smith), himself business man, that buSi-
ness had been Stagnant and improbable for
the past fifteen years in this country: Mr..
Jones added that the gold standard, IL the
gold supply did not increase, might have to
be abandoned, and that the country which
first discovered that truth and acted upon
1t would lead the world in a career of I'M
remitting prosperity. Coming to the dis
cussion of the relative merits of interna-
tional money and national money, Mr. Jones
argued that with international money there
would be a constant seeSaw, and that coun-
tries would be kept in constant oscillation
between adversely and prosperity, according
as money was sent abroad or received
from abroad. All that evil, on the contrary
would be avoided by the possession of
money purely naUOnal, ana would not De
sent out of the country, so that there would
be no range in prices. In countries lying
close together like the countries of Europe,
the utility of international money might be
recognized, but that condition did not exist
In the United States, remote from Europe
as It was.
Mr. Jones regarded 1t as a monstrous
idea that the value of money in this coun-
try should, as it would If on a gold basis,
depend upon the whims or wants of the
people of other countries who could with
draw it from the United States and store
1t up for war or other purposes. National
money, he declared instead of being vice
was a browning virtue. He repealed with in
dignation the taunt that silver money
would place the United States on the same
level Mexico and India Silver money,
he added, had been the money of the coun-
try for thirty years after the establishment
Of independence. 1t We the standard OF
blood, not the standard of money that
made the distinction, not only between the
people of the United States and the people
Of Mexico and India, but that made the dis
tinction between this country and all The
countries of the earth. He regretted that
the newspapers of the country had been so
intolerant of Senators who We're attempt
ing to do their duty they saw it. He re-
GREETED that objurgation, vituperation and
abuse should have been directed against
them in order to drive them from what
they considered their sacred duty to their
constituents and to the people of the
United States. There had not been an ar
gument left for those who We're in favor
of the repeal of the purchasing clause or
the Sherman act. He had never heard one
Of them give a reason why that purchasing
clause should be repealed. There was not
| word of truth in the statement that
| the people of the United States wanted re-
peal. 1t was almost an insult to the Ameri-
can people to say that the panic of a few
months ago was brought about by It, What
| the people were afraid of was that they
could not get their money out of the
| banks They had had question as to
quality. In all the great unrest the sill
| yer dollar had not fallen a hair below the
gold dollar.
Mr. Jones yielded the floor. saying that
he would conclude his speech at another
time perhaps tomorrow, and that it was
not the intention of any Senator connected
with his side of the question to prol0ng
| the discussion any longer than was neces-
sary for them to give their views entirely
| TO the Senate and the people. Mr.. Jones
| had a much larger and much more atten-
| tive audience among Senator's to-day than
| he had Yesterday He did not confine him
| self TO his prepared speech, but occasion
ally broke out into extempore remarks,
| which were much more interesting. The
| whole speech was delivered with great en-
ergy and volubility.
| Mr.. Faulkner said that, as he was salts
fed that Mr.. Jones closing remark stated
| correctly the position of the opponents OF
the bill he moved that the Senate take a
| recess The rdotion was agreed to, and the
Senate at p. m, took a recess until ii a.
i tO-mOrrOW.