Rocky Ford enterprise., 1893-11-02
CONGRESSIONAL PROCEEDINGS,
1hs frse Silver senators Give Fair Warn.
aAg OF Coming Disaster.
sixty-sixth Day.


sAs OF Coming Disaster.
Sixty-sixth Day.
sEnArs.--The Senate entered upou the
twelfth week of the present session ut 10
O'Clock this morning, no adjournment having
occurred since week ago The legislativo
d.y Ee Of stassy sstussd.y' Oct, T., sim continues.
amendment which he intended to offer 10 the
scpe1l PHI, proposing a conference to be held
At Warrington within nine months between
delegate. Of the United States, Mexico, Cen
Ha.,,ad Ssa and sou:h America, Hayu and San
Oomingo, for the adoption Of 4 common sil-
yer coin to be legal tender In all commercial
transactions between the citizens of the coun-
tries represented In the conference The CON
siderauon OF the bill to repeal the purchasing
clauses OF the silver act Of 1890 was then re-
eumed and Mr.. Jones Of Nevada entered the
Fourth tnstallment of his argument In oppos..
tton TO the bill. Mr.. Jones made an elsbora-
uon OF the arguments he was advancing when
the Senate took q recess on Saturday evening
-tnat the standard of u country could be
neither gold, silver nor a material thing, but
that whatever the standard might be, it was
Quandtative, and the value Of each unit de-
pended upon the number OF units and that
there could be but single standard in q
country, and that one OF quantity,
AT :O5 y. m. Mr. Jones remarked that he
deslred to yield the floor to Mr. Teller, OK
other time
Before answering q question which WA
then asked him, a. to whether he thourht the
government OF the United States could with
inc coinage nag OF silver maintain tho parity be-
one general proposition which seemed to him
70 oe necessary TO tho conclusion he had
reacned. While money was not merohandise
Sr commodity In the sense that the term
eommodity" was used. its value was deter.
mined BY the law OF supply and demand,
Mr. Teller then answered the question NV
saying that the government OF the Unite3
ena.s 1ssses could maintain the parity of the two
silver would come to the country thar Jt H.
business would absorb. In other Sords ~ .
demand would be equal to the s,,nniy II ,ho ho
wnoie world would return to tho bimetaliist
return praotsaisg to R5Ir sbe e is7 they would
except a. to those t. ,nvs which discd.ar,a. puT
nae iessened the cr..st OF production.
1rn,,sG rGasa st the free coinage Of silver by the
condition az Alone produce that favorable
ttT ET. asked Mr.. Palmer.
Tha ii not answer tho question Ia that way,
Al 'oinage of silver by the United States
Sne might not do it." replied Mr.. Teller.
cIhe position l take ID that II tho United
% %SHa.es proceeded to system that recognized
example would be followed by other coun-
ttlee And then the monetary system Of the
"orid would return to the 1873 system"
Az o:4O Mr.. Teller announced that his
MS speech, yielded the floor.
MI. Stewart then addressed the Senate In
advocacy OF his proposed amendment for q
fan-Amerfcan conference In the course of
mt; Dolph, who asked a question.
am glad the senator asked the question" !"
replied Mr. Stewart joyfully, "as that is =
point want to elaborate on"
TINS caused tho first ripple Of laughter dur
Ing the day, and several senators suggested to
MI Dolph that he withdraw his question.
"You cannot Withdraw IT," said Mr.. Stew
aft,amid laughter, and rs he proceeded to an
swsr s tho question Nh. Dolph disappeared
At O'Clock Mr.. Stewart, without conclud-
Ing, Yielded, and the Senate took recess un-
I'll lo:8O tomorrow morning.
Housn.-The amendment To the Rawlins
Dill Tor the relief Of the Mormon church was
agreed to,
according to the special order adopted last
week, the House then proceeded to tho oon-
eloerauon OF the bankruptcy bill.
sixty-Beventh Day.
SINATE.-After some routine business Mr..
Stewart resumed his speech against the repeal
onl, but At 80 yielded the floor to Mr.. Jones
OF Nevada who continued his speech begun
some days before. He said he desired dol
lar that kept at parity with pound of cot
ton or bushel Of wheat, and not with a
metal that was constantly increasing in value.
A dollar which increased In value made the
the dollar decreased IL value the slightest
there would be day Of jubilee to the over
burdened debtor.
Mr.. McPherson OF New jersey thought II
gold had appreciated, interest would have
gone up and labor have gone down, whereas
10 the past ten or fifteen years United States
bonds had fallen from to per cent, while
labor bad gone up In irregular increasing ra-
tics. II gold had gone up, a. was alleged,
M. MoPherson expressed his inability to un-
oentand how country on gold basis could
stand those connections.
MI. Jones replied that he had shown to the
satisfaction OF every man that listened to him
that ono Of the biggest proofs Of an increase
OF the value Of money Of any kind,
especially In new country, was . decline In
the rates Of interest. II money were increns-
Ing In purchasing power, IN its command
over land and over the production Of labor
-overywhers, and II prices wore falling who
wanted to enter into any businessl When
money was increasing In value and prices were
was NO demand for It in real Legitimate bus
iness enterprises. The result was q tremen-
dous contest and competition to get hold of
gtltrcdGed secufitfes.
public press should be 90 intolerant of those
who were trying to do their duty as they saw
nt and that attempts should be made BY
Influences outside Of the Senate to railroad
legislAtion through the Senate. Without At
tempting to criticise any Of those who IA
vored repeal, he had never heard one of them
give reason why 1t wanted the purchasing
CLAUSE repealed.
Mr.. Jones at 4 O'Clock said there was no de-
sire among those on his side of the question
to consume time unnecessarily, but as he was
tired he would yield the floor and allow his
colleague, Mr.. Stewart to resume his speech,
and he would ask the indulgence OF the Sen
ate to proceed At some other time.
Hr. Faulkner, being satisfied that the re-
marks Of Mr.. Jones correctly stated the posi-
ton Of the opponents Of the bill, moved that
the Senate take recess until 10 o'clock to-
morrow, which was done.
Hous..-Debate on the bankruptcy bill
waa resumed. A lively debate took place,
closed BY Mr.. Bryan In opposition TO the bill.
Ho claimed the bill was not drawn In the In
terest Of the debtor class. It comes from tho
wholesaler who desires better method Of
collecting his debts. Under the state laws
the man who attacks the credit Of . debtor
was liable for damages, but this bill would
place every debtor At the mercy Of the cred
itor whether he was solvent or not. The
news from the SENATE Of the probable passing
Of the repeal bill and tho establishment OF
the gold standard in this country will neces-
state some law to relieve the debtor of his
debt But Il ought to protect voluntary
bankrupts. There will be enough Involuntary
bankrupts when the Voorhees, bill goes into
operation.
At the conclusion Of Mr.. Bryan's speech,
at $40 the House adjourned.
etxty-Elghth Day.