Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1893-08-24

senate Voted He Was Not Entitled to
q seat From Montana

WASHINGTON. Aug. 23 MIR. Pasco
gave notice OF his substitute on Mr..
Vests minority bill for silver coinage at
the ratio OF 20 10 l. The substitute pro-
poses a commission Of three citizens OF
the United States 20 be appointed by
the president % ascertain ard determine
by the lst of January next fair and
lust ratio between the actual intrinsic
value II silver and gold as basis for
the free coinage of silver. After the re-
suit II reported TO the secretary Of the
treasury. the weight OF pure and stand
ard silver % be contained IN dollars
halves. quarters and dimes is 20 be fixed
and determined by him aud silver Is 10
be coined.
The resolution offered yesterday by
Mr.. PETER. inquiring OF the secretary of
the treasury "a 10 the conduct OF ma
tional banks ia refusing 30 pay promptly
In currency the checks OF their deposit
ors. vas taken up and motion to refer
il 20 the committee on finance was
made by Mr.. Hoar. who said that in
time Of popular distress and panic the
comptroller of the currency should. not
be compelled to drive national banks up
b tho strict letter % the Law.
Mr. iIill opposed the reference and
insisted on the adoption OF the r'solu-
ton directly by the senate.
Mr.. Wolcott opposed the reference %
the resolution. he thought that the
finance committee would report that IL
was of the utmost Importance 90 have
the Information. but that owing to the
condition of affairs aud the necessity of
inspiring confidence the senate should
not have il.
Mr.. Gorman Argued ia favor - the
reference OF tie resolution. For the
third or fourth time be said. during tho
present monetary systeus the point had
been reached whom the national banks
were a failure 80 FAR as their power to
relieve the condition ~ the country was
coneerusd II had been reached in
1871 1877. 1871. $50 and now in 1890
AZ these periods IL was utterly imposei-
BILE Tor the banks 20 comply literally
with the Law
Mr.. Mitchell criticised the resolution
A. calling rather for illegal opinion than
for the facts. and he suggested a modi.
fcation % il in conformity with his
views
Mr. Hoar made an argument against
Nr. Butler amendment 10 the national
hack act repeaiing the 10 Per cent tax
ou state bank circulation. Tie said that
ho vas Opposed % restoring 10 state
backs the powers II issuing. circulating
and furnishing currency The people q
the country were emitted 70 have a cur
rency. every dollar n which should be
sqaal - every other dollar. and which
should he unchsnKing IN value 80 fsr
~ the wif q man could bring that %
pas That currency should - national
n Naa the fanctioa q The national gov
eminent e. sae that Il sss provisiesl Il
never bad be@u and never would Be pro.
veled ~ ~ states
~ the eio@e = NF H1ar's remarks
fhe nsticnai tark circulation BIN wae
Ialsl aet,le slfhout artiaa and The rerpaFt
q the cumnittec "a prtvilegps and elpr
tione ia favnr q -eaung Ar Mantle a.
senator from Mortsns ean taken NJ.
Arguments against fhe adoption a ihe
rrxsff ard fhs ainissios e NJ Mantle
eefc ma.ie ~ Mf t.ailinger snd NJ
Platt
n, farpie and W rhansil.r replss.i
~ nous = NJ Piaft's roints. Ani NJ
pasrs replied - Mf Chandler
Nr Hawley srea~d ~ favor q the -
en{aitlu
ne 8elafs So eio~ei - NJ flsss -
far.4 Z tho msheiig fifrFt fhaa a.
: - fh@ ssfe 49, fsksn - ths sat.-gl
tut. Fef-sf ~ NJ Fzsee ifrsssefst r.
<arfh sarfra sireafee ~ Aaetl-
AZ emitted 81 4 ~sf fti< ssts s-aa.t...i
feas - aays ~ - tfa asilafifat-
ass asfessf ~
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sifrs - fte fshis aas sats - ~
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ssn a. 1E 4sefHka usfii ti@las.s
Lsasins sAe Asal.s esss slal sasa.