Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-08-15
Financial Measures introduced in the
Senate by Different Members.
TO SUSPEND THE TAX ON STATE BANKS.
Mr.. Voorhees, National Bank Meas
ure Favorably Reported.
SILVER TALK IN THE HOUSE.
THE SENATE.

Inere was marked Ialllng on IN the
number Of silver petitions presented this
morning. not more than half q dozen being
sent up for reference to the finance COM
mittee.
A bill to repeal SO much Of the Sherman
law as directs the purchase of silver bull
lion was introduced by Mr.. Mcpherson and
referred to the finance committee.
Mr.. Gordon Of Georgia introduced bill,
and, before its title was read, went on to
explain and advocate it. 1t was not, he
said, a panacea for all our ills, but he be-
heved soiemniy that If 1t We're enacted INTO
law it would end the panic In fifteen days.
That was statement to which the Senate
would agree when it knew what the bill
was. 1t was BILL not to repeal the 10 per
cent tax on the state banks, but to suspend
Its operation for six months.
The effect of it would be this: The cotton
crop was to be moved. Only yesterday u
telegram was sent from the cotton centers
with q request that something be done in
the treasury to have bills of ladlny anthem
ticated, exchangeable for money, or to have
some course provided to move the cotton.
The bill would enable the banks of Savan-
nah, for instance, to issue for the timc be-
nah banks would indorse the bills of each.
The Vice President asked whouhe: there
was objection to the present consideration
Of the bill.
Mr.. CockreIl Objects.
Mr.. Cockrell (Mo.l-There is objection.
because there are a number of Senators
who desire to be heard on this proposition
and who will have amendments to offer.
To give to the masses of the people the
same rights as are conferrd on the ma
tional banks, and to put a stop to favorit-
ism and proscriptive legislation. We have
just as much money in the country as we
ever had. This bill cannot be considered
in the morning hour, and even If it coEld
be bill containing such principles should
not be passed in the morning hour.
shall never give my vote to any bill that
tends to recognize the rights Of national
banks to issue and control the paper money
OF the country.
Mr.. Gordon continued to advocate the
passage of this bill. which he felt conti-
dent would relieve the panic in the south
within ten days.
Mr.. voorhees' National Bank Bill.
Mr.. Voorhees, reported back from the
finance committee the national bank bill,
introduced by him yesterday. The bill. he
said. had not only the Endorsement of the
committee on finance, and the Secretary
Of the Treasury. but a similar measure had
passed the Senate unanimously last session.
He did not by any manner Of means pro-
claim the measure one Of entire relief,
but he looked upon It as measure Of re-
pie. 1t would authorize an increase of Sl9.-
900, 900 on the bonds already deposited, and
there was not a doubt that it would result
In an increase Of from $500 COO to $4,000
0oo-an increase of currency that would be
at this time a so,ace and Comfort to the
people in every quarter of the United States.
the passage Of a like bill, those reasons
were magnified now a hundred fold. He
sincerely hoped that practically without
discussion the Senate would DO today IN
ton what 1t had done heretofore for an in
crease of the circulating medium. The ma
tional banks were no favorites of his He
had not been enamoured Of them. nor they
of him; but that was no reason why they
should not be used to bring about a meas
ure of relief If they were capable OF it. In
this instance he believed that they had
power to do good, and he desired to au-
thorize them to render measure OF relief
to the people.
Mr.. Frye Makes n Point.
After the voorhees, bill had gone over on
the objection Of Mr.. Cock-ell tMo.) the lat
ter gentleman asked the Senate to consider
and pass the House Joint resolution for the
payment of mileage to Senators and Repre-
sentatives for the present session. This
gave Mr.. Frye Me.) a chance. which he
awaited himself of. of ridicu,i1g the idea OF
the public duty which would postpone re-
lief for the people and make haste to pro-
vide relief for Senators and members.
Mr.. Frye was asked whether he objected
to the consideration of the joint resolution.
He declined to do so, but Mr.. PETER (kan.)
stepped into the breach with an objection.
and the joint resolution went to the calen-
dar.
Inc Lee MdntIe case, lHNOlNtuS tEe queS-
ton Of the right of governors Of states to
appoint Senators fander certain circum-
stances) was then then taken up and Mr..
Hunton Wa) addressed the Senate In sup
port Of Mr.. Nantes right to a seat.
At the conclusion of this speech Mr..
Lodge of Massachusetts, made a brief ad-
dress, advocating the adoption of the reso-
luton introduced by him providing that a
vote should be taken on the silver Ques-
ton in ten days.
He was followed by Senator Wolcott
of Colorado, who made one of his char
acteristic speeches on the silver question.
Mr.. Hoar of Massachusetts, then obtained
the floor.