St. Paul daily globe., 1893-08-17
The Washington Windmill
Running at Full Speed.
SENATOR VOORHEES, BANK BILL.
Objections by CoekreH, Who
Proposes Amendments.
BRYARS FREE COINAGE SPEECH
Surpasses the Tariff Grafton
Which Made Him Famous.
TALKS IN BOTH BRAEcHES.

WASHINGTON, Ang. 1G. The flexible
rules of the senate ale proving OF great
service just now by permitting every
gentleman who has an inclination 10
give utterance to his financial views at
any time and to any extent he may
choose. While Senator Voorhees, did
not succeed in getting the upper cham-
Der to enter today, as was hoped. upon
the active consideration of his bill
swelling the volume of national bank
currency to the par value of their
United States bonds on deposit, the
greater portion of the day was devoted
10 financial discussion of one or more
of the various propositions Or r0solu-
tiOns pending. No one expects any de-
cisve action by the senate until most Of
the senators have mad an opportunity to
express their vjews,anG anything which
offers occasion for speechmaklng may
be said to be step towards final Solu-
ton.
Among the petition presented in the
morning hour WAS one from CaSs coun-
ty, Ind. 1t was directed (Said Mr..
Voorhees, in presenting iO against the
manifold iniquities OF the present civil
service, IN which opinion ! heartily
concur"
Mir. Henderson introduced two bills
which, he said, had been prepared and
sent to him by gentleman of financial
ability, aud which. were read by their
LilleS and referred to the finance com
mittee. The titles are: Directing the
purchase of SILVER bullion and .he issu-
ance of treasury notes therefor, and
for the appointment OF mint commits
Sion;" providing for the issue Of treas
ury notes, their redemption, OF for
other purposes" e....
EEr. voorhees,,
chairman of the finance committee, said
lie had been appealed to by several SEN
ators who required more time not TO
call up today tas lie had intenaedl the
bin TO enable national banks TO in
crease their circulation to the amount OF
the par value of the bonds deposited by
them; but he gave notice that he would
do so tomorrow.
Mr.. Cockrell offered an amendment
directing the secretary of the treasury
to pay to the holders of per cent bonds
who may present them for redemption
their face value. with accrued interest,
In United States legal tender notes.
Mr.. Sherman stated the objections
which occurred 10 his mind against the
amendment. The very moment the
treasury notes were paid out on these
bonds which were not due, and the in
terest on which was no burden to the
government, the notes, he said, would
be presented to the government and
payment in coin demanded.
That would be an unbusiness-like
proposition. and would cOmplcate the
situation. The president of the United
States had called attention in clear and
fOTcibie language TO the fact that the
treasury notes issued upder the act of
1890 were presented for redemption in
gold, and that that caused the first fall
off of the one hundred million gold re-
serve. The proposed amendment lie
regarded as most dangerous financial
proposition.
Mr. COckreII
Tidiculed the objections made by Sher-
man, whom he spoke Of as the great
friend and patron Of the national
banks, and as the great gold mon
Ometallist. Why, he asked. should
the national banks be allowed
10 increase their circulation by
$4,000. 900 on their bonds now deposit
ed, while the government itself could
not issue greenbacks TO redeem its pei
cent bonds. Many questions were asked
by MesSrs. Mitchell, Mcpherson, PETER
Aldrich and Gray. They were all re-
piled to by Mr. COckrell, who expressed
his amaZement and modification at the
objections made to his proposition by
the friends Of the national banks
Finally the bill and the amendment
went over until tomorrow. and Mr.
Berry addressed the senate in favor o.
the double standard of gold and silver
1t was generally agreed, lie said. tha
the Sherman act was thoroughly bad
1t was law which never should hav;
been passed, and he was particularly
gratified that not single Democrat,
vote had been cast for it, either in tn,
eCndle Vi lU6 UOuSe OI representatives
In an evil hour for the country tn,
free silver Republicans had parted com
pany with their friends on the Demo
cratic side of the chamber and had con-
sented TO the passage of the Sherman
act and the repeal OF the Bland acc
The repeal Of the Sherman act. wlthou
other legislation, would, in his opinion
"a nnunfru tInnn
AGoId Basis,
would prevent the future coinage o
any silver and forever practically de-
stroy silver as money. He (Mr. Berry
believed in the double standard, an,
was not willing to cast his vote for tn,
gold standard of money. He believed
that President Cleveland was a man O
The highest and most patriotic purpose
aman of great ability, thoroughly hon
est, and absolutely fearless in the eX
preston of his opinions. Mr.. Clevelan
had often declared in favor of bimetal
ism; and he tMr. Berry, was confiden
that. Notwithstanding the president
failure to discuss bimetallism in hi
message, he would approve any bi
HAT repealed the Sherman law and pro
vided for the circulation of both gol
and silver on such terms IS would Civ
them equal value.
Mrs alien gave notice of an amend
bent 70 the national bank circulation
Siil 10 The effect that interest sha