New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-12
DETAILS OF THE DEBATE.
Mr.. BLAND THE STAR OF THE DAY. WITH MR.
PENCE As KIND OF SKYROCKET

Mr.. BLAND TIE STAR OF THE DAY. WITH NIX
PENCE As \ KIND OF SKYRocKET
Washington Aug l1.-Aner The reading OF 'h"
journal in the House to-day Mr. Wilson 0D"m., ".
Va) offered bill 10 repeal part ~ the act
approved July H. 1890. II provides that 80 much
OF the net as directs the Secretary Of the Treasury
TO purchase from time to time silver bullion 10
the aggregate amount OF $500 900 ounces. or 80
much thereof may b. offered In each month
at The market price thereof. not exceeding III FOR
All - grains Of silver. and {" issue In
payment for such purchase Treasury notes "i the
United States be- repealed
Then Mr.. Bland dem. Mo. offered his reso-
luton as 10 the order OF procedure.
In the midst Of a discussion as % the meaning Of
the order far 1t referred Ia the division OF une
between the two sides MIR. Bland demanded the pre-
vious Question on his order. Mr.. Reed Rep. Me-
inquired whether II the previous question We're
ordered there would be any time allowed for d"ba."
The speaker replied that In the absence Of rule
there would not be.
Mr.. Reed said that a proposition had been pre-
sented which had been agreed upon By committee
OF some sort or other Of the constitution of which
this Hous. knew nothing officially, and II was now
proposed to adopt that proposition without the slight
est debate He recognized the importance Of the
situation. and had the proposition beer simply 10
repeal the purchasing clause Of the sherman act u"
could see the wisdom OF ia" Illl>e coming 10 vote
at once.
Mr.. Bland said that hc had no objection 10 debate
after the previous question was ordered Bnt Mr.
Bland and Mr. Cannon entered into controversy
which was 50 animated land wlthal 50 unlntcligble
that both called to order by the SPEAKER; and,
without any agreement, Mr.. BLAND again demanded
the previous question. Mr.. Cannon had some dim
Guilty I'm securing the yeas and nays, bu was finally
successful and the previous question was ordered
yeas, 217 nays, 100.
Mr. Bland then offered his free coinage lG 10
bill as "a substitute
Mr.. RAyNEE OPENS FIRE.
Mr. Rayncr Dem, Md was the first speaker. and
he was an Imprisoned one. lie was. he said. IN
favor OF the unqualified rcpcal Of the purchasing
clause Of the sherman bill, without any condition or
provi,o what lie not in favor of purchasing
another ounce OF silver, or tie cOnlng ol IL nj the
present ratio any other ratio. lie desired to ada
that he had hostility whatever 10 the use OF silver
on proper basis circulating medium but after
earnest consideration, H. was convinced beyond all
doubt and question that Its recognition rs circlat-
ing medium without international agr' cmcnt was Il
financial undertaking utterly Impossible Of accom-
pisilmcnt except at the risk OF ruin and disaster.
lie was aware Of the fact that many oil his col
leagues asserted that the decline In the price Of silver
hal been caused by IT, decentralization at the
American mint and by what was constantly called n
conspiracy destroy II circulating medium among
the governments OF Europe lie denied this propose
IL might BE- true that the free coinage OF silver
would tend for a while to keep up the fictitious stand
ard OF the coin, but the value Of the bullion would
always be controlled by the market price IL would
auctuate like every other commodity; II would be
governed by the laws Of supply AMI demand. and
eventually according 10 every cardinal and accepted
axinm Of political economy, the coinage price would
became the bullion price. the unit Of value would be
the market value the money basis would BE- the basis
no oh
the avenues OF trade
II was claimed that this c0urtiy required a system
OF bmctalllsm. but IT would never have this until
the commercial nations OF the Earth agreed upon II
proper ratio and Just 80 long rs the sherman act
rcmancd upon the statute book, so log was an
international ratio financial mpo'sbiiity. So long
as this county purchased silver and parted with
rold so long would monetary Conferences result in
failure. when It ceased purchasing silver and pro
claimed 10 the world that the gold dollar the
standard and the unit OF American value. then II
coud bling our rivals 10 terms, because there was
not "A su,.cc.d amount Of gold In existence 10 supply
the demands Of commerce ana The necessities OF The
worlds circulation.
IN FAVOR OF KEEPING THE PLEDGE
few months ago the Democracy OF the Union, in
convention assembled, denounced In the most vche-
mcnt terms the Sherman law and pledged Itself ia
IFS rcpcol lie was In favor Of keeping that pledge
A member inquired whether Mr.. Raynnr was In
favor Of keeping the other pledges made In that
platform.
Mr. Rayncr replied that he knew that the decla
rons OF hat document had been construed In various
WAYS according to the Views Of the gentlemen In
tcrpi citing them. But there WIS no ambiguity about
| the platform, and there escape from The
binding obligations II imposed upon the Democratic
| PARTY except by a base betrayal Of the people. II