Morning journal and courier., 1893-08-17
DISCUSSING THE QUESTION

The Silver Situation is still Being
 Debated in the Senate and House.
 What Some of tho Country,s Legis-
 lators Think of the Matter.
 WASHINGTON, Aug. 16.-Mr. Voorhees, (dem., Ind.,) chairman of the finance com mittee, in the senate to day said that he had been appealed to by several senators who required more time, not to call up to. day (ss he intended) the bill te enable na- tionaI banks to increase their circulation to the amount of the par value of the bonds deposited by them; but he gave notice that he would do so to morrow.
 Mr. Cookrell (lem, Mol offered an amendment directing the secretary of the treasury to pay to the holders of 2 per cent. bonds who may present them for re- demption their face value, with accrued interest, in United States legal tender notes.
 MT. Sherman, rep, Ohio, stated the ob jections which Occurred to his mind against the amendment. The very moment that the treasury notes were paid out on these bonds, which were not now due and the interest 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 bs an un- businesslike proposition and would com plicate the situation. The president of the United States had called attention, in clear and forcible language, to the fact that the treasury notes, issued under the act of 1890, were presented for redemption in gold and that that caused the first fall ing off of the $100, 1000, ,000 gold reserve. ho lol more dangerous financial proposition. MT. Cockrell ridiculed the objections made by MI. Sherman when he was spoken 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 to increase their circulation by $19, ,00O, 900 on their bonds now deposited, while the government it. self could not issue gresnbacks to redee n its per cent. bonds7
 Finally the bill and amendment went over till to morrow and MT. Berry, dem. Arkansas, addressed the senate in favor of | the double standard of gold and silver. The Lodge resolution was taken with the Gallinger amendment to it, to the effect | that 1t would be unwise and inexpedient to | make any radical change in the tariff prior | to March, 1897, and MT. Gsllinger address, l ed the senate. He declared himself ready | to vote at the earliest possible moment for the repeal of the Sherman act, though he did not believe that that much abused law was largely responsible for existing fnau- oial evils. He did not lay claim to special knowledge of the financial question, but was irresistibly led to the conelu sion that one might as we'll attempt tc cure bunions with swestened water as te expect that the repeal of the purchasing clauses of the Sherman act would entirel ly remove the existing financial stringency He believed that silver and the Sherman act had infinitely less to do with business depression to-day than the anticipated on
 slaught of the party in power on the Nc
 Kinley tariff bill. His amendment gsv'
 the democratic party an opportunity t,
 escape from it's own folly. It put off tarif legislation until 1897 when the republican
 party would be again in power, the onl, party in this country that had shown
 capacity to deal with great economic ques ! tions.
 In conclusion MT. Gsllipger said: Le
 the bill permitting banks to increase thei
 circulation be enacted into 8 law, and le : this resolution and amendment be adopted , and confidence in our finances will be 6 |, once restored both at home and abroad trade will brighten and another era of pro-
 perity (eoual to the marvellous prosperit | of the administration of President Harr
 son) will speedily come to the people of tt
 United States.
 At the close of MT. Gallirger's remark
 the senate proceed to executive bushes
 and later adjourned until to morrow.
 IN THE HOUSE.
 WASHINGTON, Aug. 16-In the hou
 to-day Mr. Bryan spoke in favor of the T . tention of the ratio of 18 to 1, arguir
 that an increase of ratio would be det, . mental to an international agreement as
 the coinage of the metals. He want'
 some bill passed which would make Il !, banks safe places of deposit.
 it In conoluaion MT. Bryan said: CT le democratic party stands to-day betwe' a. n the conflicting forces. On the one si stand corporate interests of the Unit
 States, the moneyed interest, agg,
 gated wealth and capital, imps . ous, arrogant, compsssionless. The
 demand that the party shall become t
 agent to execute the merciless decrees. = the other side stand 8 merciless thror
 which, work-worn and dust -begrime
 pleads with the democratic party to be N champion in this terrible conflict Bstwe et- these forces, hesitating in doubt as which side to turn, yet conscious that up
 it's decision must rest its fate, stands ne democratic party, and to 1t comes nd words of Israeps second law giv or .Ghoese ye, this day,whom ye will serv
 At the conclusion of MT. Brysn's spe'