The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1893-09-12
1t Will Come When Those Who
Called 1t On Care to
Call 1t OFF,
The Reply Senator Teller Got From
a Gentleman Of Wide
Reputation.
Tho Banks OF New York Brought In On,
Not tho Silver Purchase Clause
of Sherman's Law.

WARRINGTON, pspt. H.-ThsYe seems TO
be little prospect Of an early close to the
debate in ths senate on the repeal bill. It
10 stated that tAiYty-thres senators have ar
ranged to speak. and ten or doxen others
mHy decide to take hand before the con-
olusion Of the debate. Should this prove
true. It is more than probable ths snow Will
fly before the matter 10 settled. George. OF
Misstssippi. expects TO speak two days. as
do Jones, Of Nevada. and Daniel. of Vir-
Rinia; Mo'gan, of Alsbams, and Stewart of
Nevada. each one day. Even II . compro-
misc 10 ultimately agreed spoD. the hnnl
vote will not be taken earlier than the frst
week In October. The silver senator's still
insist that vote cannot be reached At all
without a cloture rulc. Under tho rules of
the senate there is no provision whatever
for sh uttinR Oft debate. and II IL not pTobA-
Bile that suoh rules will be adort,d now.
To-day Stewart submitted . resolution
for committee of i've to report whether
any senators are interested as stockholders
or Otherwise in any national bank. Hill
objected TO II on the ground of reflection
on Senator's and II went over till to NOR
row. The repeal bill was then taken up
to IL.
PuRh said if the Sherman law is repealed
TO restore confidence among money lenders.
the lion of discomfort among toilinQ mil
lions will be awakened and his roar will
shake the continent. 1t was tho unAltera-
BILE purpose OF ths opponents Of repeal TO
atand upon their convictions of public duty
and fidelity to their pledges 10 the people
they represented. and who had honorsd
them with confidence. ON this vital ques-
tion until their physical strength is ex-
hausted.
Teller followed Pugh, reaumine his
speech begun Saturday against repea'. He
continued the argument to show that the
panic is not due 10 the Sherman law. He
reputation when the panic would be over.
he gentleman replied: when the mon
who called il on oall 1t off. The bankers of
New York called u on; when they get
ready TO call u of. IL will come off, he
said he would at some other time give the
recent distressed condition. In his opinion
il was due TO legislative misconduct.
Teller next directed himself to stock
operations. A New York paper had pub
lished daily for somo time the depreciation
i'll value Of stocks, or destruction of values
paper said. The paper had finally got the
amount up 10 800. 100000 In his opinion
Il great many stocks were selling on the
market to-day for moro than they are
worth. Ho Cited Northern Pacific, which
he said had fallen from 70 to II. 1t was
said all The great owners connected with 10
unoadsd when it was 70. That COM
panv had $3.50, 600, 900 of indebtedness, $75,-
600. 900 held in Germany. great amount
is owned in Holland and England.
Don't you think" asked the Colorado
senator, that whom g;eat corporation
like that oollapses and Is left with debt so
great that its most enthusiastic friends
cannot hope 1t oan eve' pay, that the
finances in this country might be disturbed
as we'll AZ in Euro. e?"
Teller then spoke of the Erie and said he
didn't suppose anybody pretended that the
Erie would over paw out. He also spoke of
the RsadinR. and again asked If any intslli-
gent man believed that either of the three
great concerns he had named were SOL
vent. his distu bancs did nos come
from the Sherman law; 1t came from
| the misconduct of officials. The good stocks
of tho country maintain themselves. with
rare exceptions, almost at par. and many Of
them above par. even during the crisis. IL
behooved congress. when 1t oame 10 lugis-
late upon this subject, to hnd the cause Of
this evil. and if within it's power remove the
evil. He did not claim that congress could
| tonoh She condition Of dealing in stocks;
that WAS one OF the evils that had to be al
lowed to e1iat.