Evening journal., 1893-09-08
WORK AT WASHINGTON
Senator Faulkner's Address
and New Amendment.
HIS REASONS FOR DIFFERING


with the Views of the President on the
Silver Question-Busy Work Tin tthe
House-ways land Means Committee
Hearing Manufacturers Argue.
WASHINGTON, Sept. S.-Senator Faulk-
ner, Dem. w. Va addressed the Senate
to-day on the silver question. After
saying that he should find himself un-
able to follow to the full extent on the
lines President Cleveland had indicated,
the speaker declared that he would vote
for the repeal of the Sherman law, not
because he believed it to be the cause Of
the present business depression and
financial stingency, but for three good
and sufficient reasons.
First, the authority conferred upon
the Secretary of The Treasury by the act
presented a constant menace and tender
to depress the price of silver bullion.
Second, in the execution of its provi
sions, especially in storing, if bullion
is issue of Treasury Notes 1t had been
the fruitful source of the strongest
arguments against the use of silver
and a part of our monetary system.
Third, the people believed, however,
erronously. that the present disturb
ance was mainly due tosthis act and that
its repeal would assist in restoring con-
fidence, the want of which was the
chief obstacle to the restoration of bust
ness activity
In conclusion Senator Faulkner gave
notice that he would introduce an
Z amendment to the repeal bill which
j would provide for additional coinage of
full legal tender silver dollars at the
4 present ratio TO an amount that would
4 be rapidly absorbed in the business trans
i actions of this country, the aggregate
amount including that already coined
and the silver bullion in the Treasury.
which should be directed to be coined
not to be less than 800, ,O00, 600, the
4 coinage required to be not less than
81 ZOO, ,00C per month until it reaches the
n aggregate limit
y Senator Faulkner hoped that such an
n amendment would be, secured before he
was called upon to vote for repeal.
ALL ABOUT BUTTONS AND olLcLoTH
The Subjects Of the Speech es to the
Ways and Means Committee Yesterday.
WASHINGTON. Sept s.-Buttons and
oilcloth were the subjects presented to
the Ways and Means Committee yester-
lay.
H. G. Kuight, of Springfield, Mass.
spoke for the button industry. The
business was growing rapidly and giving
employment to day TO about 10000
people. There we're about 200 factories
with capital invested of about S., 600, .
200, paying 50, 500, 600 in wages yearly and
producing about 81, 100000 worth Of
,oods The business was divided into
our classes, according TO the material
lsed. He spoke for two classes-cloth
ovesed and vegetable ivory. About 40
per cent OF the cost of the cloth
overed button was labor, and about 20
Der cent of the cost of the vegetable
worry was in labor. This business, be
aid, was adjusted to the present tariff
aw, and he asked that no change be
made
Mr.. Potter, of Philadelphia, an oil
,loth manufacturer, spoke in favor Of
specific duty on imported oilcloth.
he low grade Of goods, he said, were
ndervalued. He agreed with Mr.
Blabon concerning the rates of duty.
John +. Preston, of Baltimore, said
hat he represented the other side Of
he question. He represented sixty
billions of people of this great country
ho were being squeezed by sixteen
ilcloth manufacturers. He was re-
uested to appear before the committee
the Secretary of the Treasury and
he chairman of the committee.
Mr.. Gear asked him if he was not
paid attorney. He replied that he was
m Il 4 - 4
hittee here began to poke fun at the
peaker. They asked If Secretary Car
sic endorsed the views he was about
present, and if he had submitted tn,
apers he had compiled to that official
Chairman Wilson tried TO con6ne the
entleman 70 his argument, saying thai
me was short and that Others wished
be heard. He resumed his statement
avoring a reduction of the tariff on low
rade goods-those valued at 25 cent
sr yard and under-t0 10 per cent az
alorem. These were used by the poor
he duty on the higher grade of good
buld stand he had no interest in them
Before Mr.. Preston had fairly com
enced his argument his time had ex
red, and he gave way to Mr.. johnson
New York, who represented the higl
rade paper interest He advocated
nty in accordance with the skill an,
Dor required for it's production. H
ould like the duty on the high grade
creased
j. Crawford Lyon, of Baltimore
gued that protection was no longe
Bcessary in the oilcloth industry. AL
no had entered the business had grow
ch. Let the industry sink or swim, b
id, in conclusion; the country has don
ough for it.
LIS PRESENTED IN THE HOUSE
r.. Mercer Wants to Establish Posts
Savings Banks and to Encourage Smal