The Kimball graphic. (Kimball, Brule County, Dakota [S.D.]) 1883-1905, 1893-08-26
CONGRESSIONAL PRocEEpMas
The ssn,te,

with the consideration OF the national
ban. circulation bill. He then reported
from the finance committee bill 10 sus-
pe1d the purchase of silver bullion under
the Sherman act, with declaration
in the bill thai 1t is the policy of the
United States to continue the use of both
silver and gold Us standard money and to
coin both gold and silver into money of
equal intrinsic and exchangeable value.
z. substitute for the bill was reported
(Messrs Harris, Vance, Jones of Arkan-
sas, Jones Of Nevada and vest) fixing the
number of grains of silver in United
States coins ut AGA 4-f0 grains of pure sill
YER per dollar and t.oportionately for
minor silver coins. The nill and substitute
were ordered printed and placed on the
calendar and Mr.. Voorhees, gave leotice
that he would call them mp next Tuesrtay.
The senate then took up for consideration
the bill to allow national banks to i'm
crease thefr circulation. Mr.. Allen. ind. +,
Nebraska, argued in fnvor of his amend
ment to suspend the payment of interest
on bonds on which the Increased issue is
based.
The national bank bill was still under
discussion t2:l5 p. M, Mr.. Stewart hav-
ing made 8 silver speech and Messrs. Nc
Pherson and Mandcrson having argued
strongly against Mr.. Aliens amendment
WASHINGTON, Aug. 2l.-In tho senate
this morning numerous bills which had
been introduced and were pending In the
last congress were rciutroduced and re-
ferred to committees.
A substitute for the national bank curs
rency bill was ofTered by Mr.. PETER, ind,
Kansas, proposing-tAe Issue of $3.50 ,00O, 900
OF treasury notes, to be deposited in the
treasury and to be available as cash.
A resolution was offered by Mr.. Cham
dler, rep, New Hampshire, declaring
that there was no liwfMl election of
United States senators in Kansas when
Mr. Martin was declared elected; also
one looking to the opening OF Il coast line
of waterways. These were referred to
committees.
Mr. Morrill, rep, Vermont, asked and
obtained indefinite lenve of absence after
today on account of i'll health. He then
addressed the senate in favor of the bill
reported from the finance committee last
Friday to discontinue the purchase of sill
yer bullion. Mr.. Morrill, said he did not
yet abandon all hope of binetallism and
that therefore lie should gladly vote
for the REPEAL uf so much of the act of
1890 ns required tho purchase of silver
After its repeal the country would not be
as there would be much more of silver
than OF gold, and more of paper currency
than ever before, and as the silver dollar
would not be demonetized, whenever
more silver could be coined and utilized
without crowding gold to a premium, it
sent The treasury would be
relieved from its embarrassment
of furnishing gold to pay for silver bull
lion. To maintain silver with the exist
Ing standard on a parity with gold while
increasing the public debt by the daily
purchase Of over five tons of silver
bullion, treasury notes for the payment of
which were practically redeemable i'll
gold, was too heavy IL task and the ad-
rtinistrntion had acted wisely In appeal
ing to congress.
As to the declaration of the silver min
ers that they wonld not consent to the re-
peal of the act of 1890 without satisfnc-
tory substitute, he said that the only sat
isfactcgv substitute indicated by them
free colnage- @.cas the very measure most
feared by the couh..x. as it would bring
WI, with II the, single slz,er standard.
would be by no means u measure of value.
After quotinga u statement of the great
diminu tion in the cost Of producing silver
of late years, Mr.. Morrill, said that be-
yond doubt cheaper cost of production had
had the natural effect of reducing the
value of silver and that if by any means
the product was now to be considerably
increased an equal or greater reduction
in value would follow The futile
efforts made by all the power and pres
tge of tile national government to en-
hance the value of silver showed that the
still invincible and could not be set aside
even by the dynamics of legal tender
laws. Every mile stone along the dreary
track of those unsuccessful experiments
murked n step downward in the depre
citation of silver.
America was considered n competitor
with the great powers of Europe for gold
and bv far of the StrDnrpsf cplnnrti-
tors as it was producer of gold as we'll
as of silver and would use both only for
all the beatitudes of peace and for pros
porous commerce. BY the great cost of
large armies, and greater loss of labor
in domestic industries, European nations
sources. while our small army and our
peace loving habits relieved our people
from such excessive burdens, and would
surely in the end give us the primacy in
financial power. 1.-The crucial test said
Mr. Morrill,, is whether we are or not to
drop from the bimetallic standard of gold
and silver, maintained on parity, to
the dangerously crippled standard
of silver only and thereby limit to an in
ferior currency the foremost business ma
tion of the world The grave responsible
ity rests upon n democratic administra-
tion now in full control of both branches
of congress, as we'll as of the executive
department. Whateverp policy will relieve
the public distress will be my policy.
Whatever party favors the public credit
will have my favor. Whatever measures
support public honor will have my sup
port"
WASHINGTON. Aug. 22-In the senate
this morning Mr.. Alien, ind, Nebraska.
offered an amendment to the Voorhees,
repeal bill in the form of provision for
the coinage of silver at the present ratio
nf f,,I ca t,, IN
forced as to the coinage of gold, and direct
ing~the coinage, without unnecessary de-
lay, of the silver bullion now in the
treasury. 1t was referred to the finance
committee, as was also a bill introduced
by Mr.. PETER, ind, for the reduction of
from 81 900 upward by 10 and 20 per cent
Mr.. Voorhees,, dem, Indiana, chairman
of She finance committee addressed the
senate in advocacy of tho bill reported by
him last Friday discontinuing the pur-
chase of silver bullion.
Senator Voorhees, speech was listened
to with the greatest attention. Nearly
every senator was in his seat, many mem
bers of the house occupying seats in the
read, md the galleries contained the
largest crowd of the session. The pre-
siding officer had to threaten to clear the
called forth by Mr.. Voorhees, affirmation
of allegiance to Cleveland, and other
strong points.
Mr.. Voorhees, closed his speech Mt 2 p.
~, having occ,N,ied one hour and thirty
five minutes in its delivery. He was con
graduated by many senators.
The senate was then addressed by Mr..
Dubois rep, Idaho, on the silver ques-
ton
WASHINGTON, Aug. 2a-Among the bills
introduced in the serate this morning was
one by Mr.. Pasco. dem. Florida, as sub
stitute for the minority bin of the finance
committee, proposing silver coin
age at 90 to L. The substitute pro
poses commission of three citi.
zens of the United States to ascertain
and report before Jaunary /, 1894, the
intrinsic relative value of gold and silver
and that on that report the secretary OF
the treasury shall fix and determine the
ratio.
The resolution offered yesterday by Mr.
PETER, ind, Kansas, us to the violation ot
law by national banks in declining to pay
depositiors' checks III currency was taker
| up today and motion to refer it to the