The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1893-08-22
SENATOR'S DISCUSSING FINANCES.
yoorhees's Bill Allowing Banks to Issue
Natca for:Esnnds Deponited.

washinpton August 14-Less than half its
members were present when the senate con-
yened at noon. but the galleries were full.
Last Thursdays journal and the chaplain's
prayer were short.
Mr. Voorhees,. chairman of the committee
on finance. introduced and had referred to
that committee i bill to provide for the issue
of circulating notes OF national banks. 1t
provides for the issue to national banks Of
notes to the amount of the par value of the
bonds deposited TO be deposited by them.
The bill Is accompanied by letter from the
secretary of the treasury approving or It's
provisions and stating that if It were law
the bank note circuation-on the bonds al
ready deposited couId be increased by Sl9.-
100000
declaring it to be the sense of the senate that
no legislation other than legislation pertain
ing to the finances shall be considered at the
present extraordinary session OF congress lie
asked that the resolution lie on the table for
the present.
Senator Vests Speech.
Mr. Vest called up the resolution offered by
him last Tuesday in the words:
"Resolved That the American people, from
tradition and interest favor bimetalism and
the free and unlimited coinage of both gold
and silver without discriminating against
either metal; that it is also the established
policy of the United States to maintain the
parity of the two metals SO that the debt
having and purchasing power of every dollar
shall be at all times equal, that it Is the
duty of congress to speedily enact such laws
as will effectuate and maintain these OBJ
jects.''
Mr. Vest went on to argue against the idea
that the overproduction of silver in relation
TO gold justified the demOnetizatlon of the
white metal, and he quoted the tables of
gold and silver production for many years in
support of his argument. lie undertook to
say with the greatest respect for the presi-
dent and without the slightest doubt of his
honesty Of purpose that when he failed-in
that great state paper-to say one WORD on
bimeta!lism, he certainly meant that con
sderation Of the question of the free coinage
of silver, at any ratio. so impracticable
that it did not need executive notice.
Mr. Vest spoke three hours in the course
of which he was frequently interrupted with
questions from his colleagues. TO question
from Mr. Palmer Mr.. Vest replied that he was
willing to have the Sherman act repealed
but not willing TO have its repeal made
stalking horse for recommendation.
In reply to Il question by Mr.. Platt. Mr.
Vest said he did not know what the president
would do. He knew that the president had
SEM message to congress in which he did
moi say one word about bimetallsm, and he
took it for granted that, if the president had
any idea Of sustaining binetaliism, he would
have said something about it.
In conclusion Mr. Vest repealed the idea of
there being 4 necessity for international
agreement on the subject of silver.
At the close Of his speech. Mr.. Hoar OBJ
tanned the floor, and then, after Il short ex-
ecutivc session for the reference to the COM
mittees today, the senate at 400 O'Clock ad-
journed until tomorrow.
Before beginning his speech in support of
the resolution. Mr.. Vest had read declara-
lions In the republican and democratic plat
forms on the subject of silver. in order to
show that both parties were practically
agreed on that question. He said that 1t
was time for the people of the United States
to know whether politics We're n tuegle and
a fraud or whether the solemn declaration of
parties were worthy the confidence of free
people.
Taking mp the Sherman act. Mr.. Vest spoke
Of ii as a houselcss and homeless legislative
dog. with one even to give<t bone. and
without being able to find Il kennel In which
to hide its dishonored head And. neverthe-
less. he would vote against its repeal with
out a guarantee solemn as the great nctes-
sity Of the people, that silver shall exist in
the United States a money metal He
had been known as the firm and unshrnking