The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-09-01
It's Adoption by the Senate Probable Within
Three or Four Weeks. Despite Efforts Of
the Silyeritss to Delay Final Action.
Our Daniels Double Financial Record
Exposed by Mr.. WOlcOtt, of Colorado.
Committees on Coinage. Weights and Meas
ures, and Bsnking and Currency Given
Unusual Powers by the House.
Special to the Indianapolis Journal.

the slver-repeal bill within three or four
weeks. or all signs will fail. An effort will
be made by the extreme silver Senators to
secure an organization of their force with
q view TO talking the repeal bill to death
and preventing final vote. If they fail
IN this they will practically give MP their
fight. They acknowledge that they are in
the minority now In the Senate by q margin
of eight or ten. and that their number 10
constantly decreasing by the proselyting
influences of the administration and the
pressure from the country. If they could
oil get together aud resolve to stand firm,
or do all that lies in their power to defeat
vote. they might win; but without that
organization defeat is certain. and within
the next three or four weeks. 1t is hardly
likely that an organization can be effected.
as nearly every one of the Democratic
Senators have given notice to Sem
ators Teller. Stewart Jones of Me-
vads. Dubois and other free-coinage
leaders that they will do nothing
to delay final action The outlook of the
free-coinege fight is discouraglng for It's
friends. The Populists, feeling that the
repeal OF the present silver law VIII aug.
ment their ranks. are reported TO be anx-
q
against the bill they believe that re-
peal will be the cause of many Repu blic-
ans and Democrats leaving the old parties
and joining the Populist party. Thus the
Populists In the Senate refuse to stand ont
against final vote on repeal.
SENATOR woLCoTT's SPEECH.
The speech of Mr.. Wolcott against the
repeal bill was delivered in the Senate to-
day in the presence of almost all the Senas
tors and of large audience In the gall
leries. The most telling parts of it and
those that amused and interested it's hear.
ers most were some humorous and sarcastic
touches. in which he depicted che conver.
sion of Democratic statesmen from their
belief in silver and their devotion to BIZ
metallism TO the good monometallism faith
of the President
In the conrse of his speech Mr.. Wolcott
sarcastic cRlly referred to the great mum beI
of Senators who, protesting TO be bimet-
allists. held that an international agree
nent was necessary, and pointed out that
thereby they accepted the single gold
policy OF England. He said that the
friends of silver were not carried away by
such utterences as those OF Senator Hill
the other day. Who was not for them was
against them. and his speech would have
been as logical If made against silver
and in favor OF unconditional repeal. The
Senator knew tnat free coinage by sep
arate oct was impossible during this adj
ministretioD, and that any assistance he
desired to render must come now or not az
all Silver had been compelled TO bear
every body's burdens for many months.
and it seemed now to be involved In some
fashion with the Democratic factlonal dif-
ferences in New York.
Senator Wolcott next paid his resprects
to Mr. Voorhees,. and said that MS change
of front was one of the most remarkable
and ominous occurrences He attacked the
80 naf lll nd N ny al
banks, and said that all his past utter
ances, as was shown by the record. were
words writ in water" He quoted from
the Senator'S article last year In the North
American Review TO show his lack OF oon-
sistency, and asserted that now for the
first time he Voorhees, supposed TO repre-
cent the masses. and Sherman, supposed TO
represent the classes, were In complete ac-
cord in financial matters The wolf was
dwelling with the lamb and the leopard
was lying down with the kid. This har-
mony, he feared, would not continue long,
and when they arose they would be fewer
in number There could be but one
chairman Of the finance committee.
anc, without undertaking the abili-
ties of the Senator from Indiana. he looked
forward to the resumption of the control OF
the committee by the Senator from Ohio.
and recalled Pharaoh's dream of the lean
kline. He adjured the Senator to remember
Solomon's admonition that 1T Is better
that thou shouldst not vow than that thou
shouldst VOW and not pay" This was IN
reference to his advocacy of silver. Nc
man. Mr.. Wolcott said, could be a blmetals
list in the sense that he believed In the
further coinage of gold and silver by the
United States and advocate this bill. The
President would undoubtedly veto any,
independent measure for the tree coinage
of silver and there was lot n Senator IN the
body who did not believe this to be true.
Any man VINO youched for Mr.. Cleveland
as q bimetallist would vouch for the man
In the moon. Why not act now on the
whole financial question.
Mr. Wolcott went on to controvert the
arguments that there was overproduc-
tion of silver IN the world: that it was
cheaply produced. at q cost much less than
its present market price as q commodity.
and that upon a return TO free coinage. at
a ratio of 16 to l. the present product would
be largely increased. he held that not one
of these statements was true. and that the
feIsity of each of them could be readily
demonstrated. In this connection he cited
q number of figures and taking up particu-
larry the case of Leadville. cited the re-
suits of q careful inquiry made by q com.
mittee of leading citizens into the cost OF
silver production there. His summary
showed that Leadville had produced IN
fourteen years net sl04. .5l5, SOB. at n cost Of
S12l, ,521, ,5S3. showing a loss In silver mining.
changed into a fair profit by sue value or
the by-products.
The next speech was on the opposite side
of the question, aud was made by Mr.
Caffery, the successor of MIR. Gibson. OF
Louisiana. It was his first appearance IN
the Senate as speech maker. bnt the
spereh was remarkable as q pronounced
declaration In fayar of unconditional re-
peal of the Sherman law, although he adj
mitted that the position 90 taken by him
might not meet the approval OF his state.
and might put bar TO his future political
career.
VOORHEES, WILL BROOK NO DELAY.
motion having been made by Mr..
PETER TO taks up the resolution heretofore
offered By him as TO national banks refus-
ing to pay depositors checks in currency.
Mr.. Voorhees, said that il Senators were
not prepared to 20 on with the discussion
of the repeal bill he had no objection TO
other minor matters being taken mp. pro-
yiding that the repeal bill was not re-
placed. He gave notice. however. that II
he found at any time that discussion on
the repeal bill was exhausted he should
ask for n vote.
Mr.. Cullom said that he should be glad
20 aid the Senator from Indiana In secnr-
ing vote at any time. whether he had
made a speech on the bill or not.
Mr.. Voorhees, SAID he was aware that 10
was the intention of Senators TO indulge in
good deal more debate. hs trusted that
there would be liberal allowance tor full
debate. Tor full. intelligent disonssion. ana
sa q that after &c was manifest the discus
sion was exhausted, and that 10 was only