Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-10-25
THE 5s'ao CONGRESS.
Msssrs. jones and Korherson en- the
Causes Of the Business Depression,

WASHINGTON. ID. c., October 2l-The
Senate was supposed TO reassemble
at 1880 this morning 10 go on with the
legisiative-day OF Tuesday OF last week,
but 1t was quarter OF an hour after
wards whom 4s senator's Gust auorum)
made their appearance In the chamber.
The consideration OF the silver-purchase
repeal bin was resumed, and Mr.. Stewart
continued his speech begun several weeks
ago and taken up at various times since
then. After he had spoken an hour the
absence OF quorum was suggested by
Mr.. Power. and Mr.. Stewart said there
ought to be a quorum present, as he had
many important things 10 say.
The roll-cali was answered by forty-six
senators (three more than quorum), but
before Mr.. Stewart had resumed the floor
a motion was made by Mr. Kyle that
when the Senate adjourn to-day 1t
should adjourn until tomorrow at noon.
Mr.. Voorhees, hoped that the motion
would not prevail, and was Informed by
the Vice-President that the motion was
not open to debate.
Mr.. Teller called Tor the yeas and nays,
and the vote resulted: Yeas. 5, (Messrs.
Cameron, Coke, PETER. Stewart and Tel
ler): maps. 36. There was no quorum
voting. as several senators present with
held their votes. The roll was again
called and IS senator's responded.
Then the question was again taken on
Mr.. Kyie's motion. and II was rejected;
Yeas. 4. Mr Teller not votlng): nays.
Al. Mr.. Stewart then went on with his
speech against the repeal bill.
At LOO Mr.. Stewart, without finishing
his speech. yielded the floor to his col
league, Mr.. Jones. who resumed MS
speech where he mad left off yesterday.
CAUSES OF THE PANIC.
In the course of his remarks dialogue
was carried on between Messrs. Jones ana
Mcpherson as 10 the causes Of the recent
depression in business.
Mr. Mcpherson contended that one Of
the chief causes was the fear of the erect
of the free coinage Of silver, and Mr
Jones repelled that suggestion and remind
cd the New Jersey Senator that there had
been no talk of the free coinage or silver
three or four months ago when the panic
began. The existence OF the silver-pur-
chase act Mr.. Mcpherson contended, had
the same effect as free coinage. because
n that act continued In force long enough
the result would be that the value OF
that kind OF money which was not at
par with the good money. was going TO
unset values. He drew no distinction, he
said, between free coinage and the Sher-
man act. except as 10 quantity The
Sherman law would bring the country on
a silver basis with the same certainty,
though not so rapidly, as free coinage.
Mr.. Jones replied TO that by showing
that the increase OF circulation through
the operation of the Sherman act had not
been sufficient to keep up the range OF
prices.
He had the assurance of the Senator's
colleague CMr. Smith)-himself a business
man-that business had been stagnant and
Improbable for the last fifteen years In
this country.
Mr.. Jones yielded the floor. saying that
he would conclude his speech at another
tlme-perhaps to-morrow-and that it was
not the intention of any one connected
with his side of the question to prolong
the discussion any longer than was neces-
sary for them to give their views entirely
20 the Senate and to the people.
Mr.. Jones had a much larger and more
attentive audience among senator's to-day
than he had yesterday. He did not con-
fine himself TO his prepared speech. but
occasionally broke out into extempore re-
marks which were much more interest
ing. The whole speech was delivered with
great energy and volubllty. Mr.. Faux
ner said that as he was satisfied that Mr..
Joness closing remark stated correctly
the proposition of the opponents of the
bill. he moved that the Senate tako
recess. The motion was agreed to. and
the Senate. at 4 =. NJ, took recess until
IL A. NJ. tomorrow.
HOUSE OF REPRESENTATIVES,
Mr. Oates. from the Judiciary Commit
tee. reported a bill to amend the naturali-
zation laws of the United States, with
favorable recommendation.
The Speaker announced that he would
defer until tomorrow the rendering OF
decision on the point of order as to
the right Of a committee TO report a bill
which had previously received consider
alton during the morning hour, as he
desired to confer with the Committee on
Rules.
The bill TO amend the revised statutes.
so as to license engineers and assistant
engineers of vessels in the merchant
marine, thereby recognizing them as Off
GERS, was discussed for some time, and
passed
a bill 20 transfer a lighthouse from
Morris Island TO Sullivan's Island,
Charleston harbor. was passed.
The bill TO establish a uniform system
of bankruptcy in the United States was
taken up, but the debates upon 1t soon
changed the subject to silver. Later. 1t
came back to the pending bill. but very
little interest was taken In it, and at 4:i5
T.. NJ. the House adjourned.