The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1893-08-30
A SUBSTITUTE REPORTED.
Senator VOORHEES, Reports Back
the House Bill Amended.
THE BILL GOES OVER A DAY
A Very Warm Debate Occurs Over
Stewards Resolution.
enator Teller Makes a Ringing Speech
in Favor of White Metallic Protests
Against Calamity HowIers-His Ad-
dress Not Concluded.


WASHINGTON, Aug. 29.-In the Senate
Mr.. Voorhees,, chairman of the finance
committee, reported back the House bill
repeating part of the Sherman act with
an amendment in the nature of a substi-
tute He asked that the bill be placed on
the calandar and gave notice that he
should ask the Senate to take it up and
consider it Immediately after morning
business from this time on until final
action be taken. The substitute he said,
was exactly the bill heretofore reported
from the finance committee.
On objection of Mr.. Teller it went over
till tomorrow. Mr.. Harris, member OF
the finance committee said the substitute
just reported, was the majority report,
in which the minority committee did not
concur.
The resolution offered yesterday by Mr..
Stewart was then laid before the Senate.
II directed the secretary of the treasury to
inform the Senate whether there is
danger of deficiency in the revenues OF
the government during the current year
aud if so what is the probable amount OF
such deficiency and whether legislation
is necessary TO supply such deficiency.
This resolution gave rise to a long dis
cussion. Senators Sherman, VOORHEES,,
Mills, Mcpherson and Harris opposed
the resolution as calling for profile
NAUTICAL statement, as calculated to create
needless alarm, or as rejecting on the
secretary of the treasury. a motion to
refer the resolution to the finance COM
mittee was made by Mr.. VOORHEES, and
that motion was opposed by Mr.. Hill and
by Mr.. Stewart.
Mr.. Hill declared that he could see no
danger 80 the country from the adoption
of the resolution.
Mr.. Stewart who also defended it de-
clared that there was rumor that there
was deficiency in the revenue; that
the treasury had difficulty in paying cur
rent expenses and the gold reserve was
being paid thereof.
After some further debate the resolu-
ton was finally referred to a committee
by 40 to 10. The senator's voting nay
were:
Allen, Call, Dubois, Hansbrough, Hill,
1rby, Jones of Nevada, Lindsay. Pfeffer,
Power, Shoup, Stewart, Teller, White
Of California, and Walcott.
Mr.. Dolph introduced bill which was
referred to the committee on foreign rela-
tions appropriating $500, 900 to enable the
secretary of the treasury to enforce the
Chinese exclusion act, and said he would
seek opportunity of addressing the Senate
on the subject.
Mr. Gordon addressed the Senate in IA
vor of the unconditional repeal Of the
purchasing clause of the Sherman act
and against the substitute. In the con-
GLIDING portion of his speech he adyo-
Gated the repeal ofthe 10 per cent. tax on
state banks.
Mr.. Teller addressed the Senate in an
argument TO prove that the Sherman law
was not responsible for the financial
trouble of the country. ''Almost
without exception - be said, s'every-
one who has addressed the Senate
had spoken as If there was some great
calamity impending over the people of
the United States. lie wanted to enter
his protest against the calamity howl
ers.'' There was q disturbed financial
condition of an unusual character and it
seemed to him the first thing to do would
be to inquire what brought it about and
vet during three weeks session he had
not heard anybody suggest an intelligent
reason for the present financial condI-
ton. Nobody had analized the question
as to whether the cause was or was not
the Sherman act. He challenged any
senator &c sell and to tell the American
people that he believed the people had
brought about this panic because they
were afraid of their money.
ssThere has been taken from the banks
since the first blast of spring, at least
$3.50. 0O0, 600. by men who were dissatis-
fed with the present condition of things. |
They had taken out their money and had
put away, but they had not demanded !
gold. They took whatever currency they |
could get. He haf ecu in the city of
Denver when foV Aat oral banks there, |
all solvent, hac osed. He had gone on |
the street VIII. 70 crowds gathered and |
asked tie peol what the trouble was
and he was to d.: we do not know |
what the trouble is. We have been
told that there Is IL be great fnanci al |
disturbance in the country. We do not |
know whether the banks Will be able to |
pay us our money when we want it, and |
we think it is safest to get it now.'
s'Those representations of coming |
evils,' he said, ''had emaneted from |
the New York banks and newspapers |
The cry OF the metropolitan papers was
followed by all the small papers of the |
country. None of them had been able to |
tell what was going to happen. These |
Misrepresentation and false statements j
brought about a state of things which /
could be brought about in any country |
and at any time by such means and |
agencies
Mr.. Teller then went on at great length |
to discuss the course taken by New
York's banks in refusing to pay the de-
positors' checks in currency, and in try /
ing to work up public opinion in favor |
OF the repeal of the Sherman act. He /
noted the reported interviews witi-d e
President and Secretary Carlisle, q |
criticized the views attributed to Ai
President land which he said had n, Ter
been denied), "that the people of he |
United States needed an object lesson n I'd |
ing his remarks, Mr.. Teller yielded for a
motion to proceed to executive business
and afterwards the Senate adjourned.
THE VOORHEES, Fill.