The Indiana State sentinel., 1893-07-05

TO keep himself forewarned through the
press dispatches of the slightest APP
proach to panic in the money market.
prepared at any moment TO take the
course which he has now adopted If IL
seemed to him that his so-doing would in
any way tend TO allay alarm and restore
public confidence. When, today, he
found kilograms on his table not only
from the eastern and middle states, but
also from the South and even from some
OF the silver states urging that congress
be called together at the earliest day
possible to end the uncertainty. he de-
termined 10 delay no longer. But, even
In taking this action, the president took
steps as far as he could 10 prevent it's
being known before the stock exchange
closed so as to avoid any appearance of
exercising any undue influence on the
stock market
Messrs. Bynum and Brown Talk.
1T is a good thing" said Mr. Bynum
of Indiana. "and 1 believe it will result
in the repeal of the Sherman law. at the
door Of which most. If not all, the pres
ent financial trouble can be laid The
earlier congress repeaIs the Sherman act,
the better it will be. believe it can be
repealed and fail to see any great diff
ficulty in wipping from the statute
books law which everybody condemns
peal"
Il voted against the Sherman act be-
fore and will vote for it's repeal now"
said Mr.. Brown of Indiana. Mr.. Sher-
mans law has been terribly expensive
TO the country at large. The Sherman
act, it is claimed, was passed to prevent
the enactment of a free coinage bill 1t
would be nearer the truth to say that
it was passed to keep Mr.. Harrison from
Vetoing a free coinage bill and appear
ing before the country as an opponent
of SILVER"
The presidents proclamation, its ef-
ects and the probable result on the ac
ton of the coming congress was the
leading topic Of conversation in the
| hotel lobbies tonight where politicians
are accustomed to gather. There was
| a noticeable increase in the number of
members Of the next house, the report
| having drawn them to the news CEN
ters where they discussed the matter
| from every point Of view. The action
| of the president, it is apparent, meets
/ with the commendation and approval Of
| most of the members and politicians
now in the city, and the opinion IS al
/ most general that the Sherman act will
be repealed. This proposition is not re-
| futed probably for the reason that the
/ free silver men who will conduct the
| fight against the repeal have few mem
/ bers now in the city. The free silver
/ men, however, will oppose any attempt
/ 10 repeal the Sherman law with all their
| strength. The fact that the great mines
/ in the west have been closed viii be util-
/ lied as a weapon with which TO force
/ any Wavering members in their ranks
| back into the fold.
Senator Voorhees, Expresses Himself.
The effect of the announcement upon
| senators and representatives in the city
was very marked. Senator Voorhees,,
/ chairman Of the finance cOmmitte first
| knew Of the presidents act when in
| formed by an Associated Press represent
| tative. He was not surprised.
THAT being the case" said the sena-
tor. lit will not be long before we are
again At work Inasmuch as congress
has to deal with this subject Of finance
it is well that we get about it, and the
sooner the better. l do not know that
congress can or will bring re-
lief TO the country. but it is ou1
| duty to make the effort and the con-
dition of the country certainly demands
to my mind, very prompt and decisive
| action, especially in view OF that fact
that everybody seems to be depending
| on congress for a solution of our finan-
| cial troubles. I think the president has
| acted wisely and I have no doubt that
/ as soon as congress gets TO work II viii
| repeal the Sherman act. / voted against
| the bill when it came up on a yea and
| nay vote when il passed, and told the
| silver men who supported IL that il was
| not the legislation needed for silver and
| they would live to regret the day they
! supported it, The day has come. |, fol
| one shall vote for its repeal. 1t must
! not be understood. however, that I abate
sir 10 if+ or Of m a. hn Z
| the coinage and use Of silver as money
under proper regulations for its parity
| with gold"
Senator Harris, president pro tenn. OF
| the senate. could not be seen personally
but from one to whom he had spoken rel
| ative to the calling of an extra session
it is learned that he expressed the be-
| lief that the sooner il was done the bet
| ter il would be for the country.
| Representative Dockery of Missouri
| declined to discuss the probable action
of congress when it came to do with the
| money question.
Il can express no view upon the sub
| ject" said Mr.. Dockery, "for the reason
| that L have not talked with enough mem
| bers TO know whether the Sherman law
| can be repealed or not. Unless l knew
what a canvass would show, il would
| be foolish for me to make prediction
So far as the action of the president is
| concerned. think it is eminently proper
under the circumstances"
| WASHINGTON, July 1.-The opinion
held by a number of congressman is
that the extraordinary session called
| yesterday by the president will not be
a lengthy one and that financial matters
| alone will engage its attention. Promi-
! nent among this class is Gen. Wheeler
| of Alabama. Il see no reason" said
| Mr. Wheeler, talking upon this matter
| why the country should be burdened
| by a long and tiresome session of con-
| gress with its attendant debates and
set speeches. The president has called
| them together by reason of the gravity
| of the money question and that alone
| The people have tested the virtue OF
| the silver purchasing act and now they
| should be given an opportunity to OBJ
serve the working of its result. There
| are numerous members of congress who
| believe it would be wise for congress, as
soon as it organizes. to pass a resolu-
tion giving the president authority tc
suspend the purchase act or deal with
it as he may deem best. Congress
could then adjourn at once. the relief
demand by the people having beer
granted. Then when congress convened
| in regular session in December the
financial question could be dealt with
intelligently and with deliberation and
in the light of the result OF four months
work under the policy the president
might. under the resolution inaugurate.'
on the other hand Representative Nc
| Millen of Tennessee, who is regarded as
one of the democratic leaders of the ap
preaching session, holds to the view thai
the session should begin at once the
work which must come before the next