The morning call., 1893-08-19
DOES HIS WORST.
Senator Voorhees, Introduces His Sill
yer Repeal Bill at Last.

yer Kepedl Bill at Last.
WASHINGTON, Aug. 1S-The Senate was
presided over to-day, in the absence of the
Vice-President, by Harris. A long COM
munication from the Secretary of the
Treasury was presented and read on the
subject of gold and silver payments. 1t
states that the department would not and
could not exchange silver dollars for gold
if requested to DO so.
VOORHEES, reported from the Committee
on Finance bill to discontinue the pur-
chase Of silver bullion and declare it to be
the policy of the United States to con-
tinue the use or both gold and silver as
standard money.
There was necessity Cor sctieu on the
national bank question. He had heard
the taunt that he was seeking TO do some
thing in the interest of national banks.
He was seeking nothing of the kind. He
was seeking to avail himself of their
power, interest and cCpidIty in order to
increase the circulating medium and
thereby meet the pressing wants of the
labcring people. 1t was not a bill in the
interest of the banks.
Vest, on behalf OF the minority of the
Finance Committee, presented substitute
for the repeal bill. The substitute fixes
the number of grains of silver in coins at
1914 pure silver per dollar. and propor-
tionately for the half dollars, quarters and
dimes.
The text of the bill reported by Voor-
hees, emitting the enactng clause. is as
follows:
That so much of the act approved July
IA, 1890. entitled An act directing the pur-
chase of silver bullion and the issuance of
treasury notes thereon and for other pur-
poses,' as directs the Secretary of the
Treasury to purchase from time to time
silver bullion to the aggregate of 4, 100000
ounces, OF so much thereof as may be
offered, in each month. ut the market price
thereon, not exceeding 81 for 81 25 grains
OF pure silver, and to issue in payment for
such purchases treasury notes OF the
United States. be and the same is hereby
repealed.
'And it is hereby declared to be the pol
icy of the United States to continue the
use of both gold and silver as standard
money. and to coin both gold and silver
iuto money of equal intrinsic ard ex-
changeable value, such equality to be Sc
cured through an International agreement
or by such safeguards OF legislation as will
insure the maintenance OF the parity m
value Of coins of the two metals and the
equal power of every dollar at all times ir
the markets and in the payment of debts.
"And ii is hereby further declared that
The efforts of the Government shouId be
steadily directed TO the establishment of
such a safe system OF blmetallism as will
maintain at all times the equal power of
every dollar coined or issued by the United
States in the m arkets and in the payment
of debts"
The bill for the increase of the national
banks circulation was then taken I'M.
Allen OF Nebraska advocated the adop-
tion OF the amendment offered by him Ias,
Wednesday to suspend the interest ON
bonds on which increased circulation was
based. In mis- judgment the bill would
commit this country TO policy of con-
tinuance of the national banking system.
and be believed the time had come when
safety required the overthrow of that sys-
tenn and the wiping of it out of existence
as speedily as possible Nine tenths of the
people OF Nebraska were, he declared, un-
alteraby opposed 70 anything looking to
the perpetuatioD of the national banking
system.
Stewart addressed the Senate and gave
history Of the recent development of the
silver question at home and abroad He
hoped the pending bill would be stripped
of every Objectionable feature and then
passed.
Mcpherson. from the Finance Commit
lee, argued against the Allen amendment
as calculated to defeat the whole measure,
and Manderson opposed his colleagues
and favored the immediate
passage of the BILL He totally disagreed
with his colleague in the assertion that
nine-tenths of the people of Nebraska
were opposed to the national banking sys-
tenn.
Pugh saw no reason why the Govern
.nent should not resume its proper consti- |
power and issue all the currency
which the people needed in their business.
Wolcctt inquired what authority there |
in, 10 fnr tho iestsa of al